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Overview
HDFC Life ProGrowth Plus is a unit-linked, regular premium insurance plan where the premium is invested in the market, providing good returns along with various benefits. This plan offers the flexibility to choose investment funds and regular premiums. The company invests your regular premium and a portion of the premium allocation charges in the selected fund, in the proper proportion as per the policyholder’s specifications. At the end of the policy term, an accumulated amount of funds will be received. In case of the unfortunate death of the life assured during the policy period, the nominee will be eligible to receive the fund amount or the greater sum assured.
In simple words, HDFC Life ProGrowth Plus is a savings-cum-insurance plan that allows policyholders to create their own investment strategies and provides a life cover.
The HDFC Life ProGrowth plan comes with a variety of features and benefits, designed to provide financial protection to the family members of the assured when they are no longer around. Continue reading to explore more about the plan.
Benefits of HDFC Life ProGrowth Plus Plan
HDFC Life ProGrowth Plus Plan offers a range of benefits including:
- Choice of plan option
- Switching
- Redirection of Premium
- Tax Benefits
- Smooth and convenient premium paying process
- Flexibility to plan your investment strategy
How to Buy HDFC Life ProGrowth Plus Plan Online via PolicyX.com
- Visit the official website of PolicyX.com.
- Hover on the ‘Life Insurance’ tab.
- Choose the ULIP plan you want to buy.
- Fill out the form at the top of the page with the necessary details.
- Select your income and city. Click on 'Proceed'.
- Update your education and occupation details.
- Choose your preferred plan and click on 'Buy this plan'.
- Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Benefits of the HDFC ProGrowth Plus Plan
There are various benefits to buying the HDFC ProGrowth Plus Plan. Let’s understand each of them in detail:
- Choice of Plan Options: Flexibility to choose from Life and Extra Life options.
- Convenient Premium Payment Option: Smooth and convenient premium paying process with access to multiple payment modes such as cheque, credit card, auto-debit, and net banking.
- Choice of Investment Strategy: Based on your risk and return needs, the plan offers the flexibility to plan your investment strategy.
- Death Benefits: In case of any unfortunate event such as the death of the life assured within the policy term, the nominee is provided with the higher of the sum assured or fund value as a death benefit.
Free Look Period
The plan comes with a free look period of 15 days. During this period, policyholders can cancel the plan in case of dissatisfaction with the terms and conditions of the policy.
Grace Period
If an insured fails to renew the policy on time, they will be offered a grace period during which the plan can be renewed. The grace period for this plan is 15 days for monthly frequency and 30 days for quarterly.
Partial Withdrawals
The plan allows partial withdrawals to meet unplanned expenses.
Surrender Benefit
Policyholders can surrender the policy any time during the policy term. However, once the policy is surrendered, there will be no option to revive it.
How to Buy HDFC Life ProGrowth Plus Plan Online via HDFC Life Insurance
- Visit the official website of HDFC Life Insurance.
- Hover over the 'Investment Plans' from the top menu.
- Click on 'ULIP Plans' and choose the HDFC Life ProGrowth Plan.
- Click on ‘Buy Now’ and you will be redirected to a new page.
- Enter your name and contact information. One of their representatives will reach out to you to discuss the quotes.
- Once discussed, you can make the premium payment and get the policy documents.
Exclusions
- In case the policyholder commits suicide within 12 months of policy purchase, no death benefits are offered to their family members. Either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, is paid.
Documents Required to Buy HDFC ProGrowth Plus Plan
Here is the list of documents required to buy the HDFC ProGrowth Plus Plan:
- Photo ID Proof: Any one of the following: Passport, Aadhaar card, PAN card, Driving license.
- Age Proof: Any one of the following: Passport, Aadhaar card, PAN card, Driving license.
- Address Proof: Any one of the following: Utility bill, passport, voter ID, ration card.
- Medical Records: Medical records of the policyholder, if requested.
- Income Proof: Any one of the following: Bank statement, last three months' salary slips (if salaried).
Plan At a Glance
| What’s Good Here | What’s Missing |
|---|---|
| Choice of plan option | Premium Offset |
| Partial withdrawals | Premium continuance |
| Maturity Benefit | Auto cover continuance |
| Switching | Top-up premium |
In a Nutshell
If you are looking for a ULIP plan that offers you the flexibility to manage your policy with your own strategy and choice of funds, then you must choose HDFC Life ProGrowth Plus.
For more information related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.
