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Term insurance is a kind of financial future plan which means in case of the unfortunate demise of the person insured, the family members will receive the sum assured as a payout. A lump sum amount is paid to the nominee, the policyholder can choose from various payout options either monthly or annual, a combination of lump sum .This will help take care of financial needs and household expenses after the death of the breadwinner. Talking about the term insurance, HDFC has launched an all-inclusive plan named as HDFC Life Saral Jeevan Bima Plan. Let us have a glimpse of the plan.
HDFC Life Saral Jeevan Bima is a simple and no-frills, pure-risk term insurance plan. This plan dispenses the nominee with a fixed amount after the death of the insured during the policy term. It is also a non-linked, non-participating, plan with simple features and standard terms & conditions. Saral Jeevan has two accidental death rider options so it is a term plan that provides you comprehensive protection at an affordable price and good coverage.
Min: 18 years(Age at entry (last birthday)
Max: 65 years(Maximum Age at Entry)
70 years (Maximum Age at Maturity)
Min: 25 lakh
Max: No Limit
Min: 23
Max:75
Monthly, Quarterly, Half-yearly, Annually & Single
Single Pay
Regular Pay - Same as policy term
Limited Pay - 5 & 10 pay
Premium Payment Mode
Single Pay, Regular Pay
5 Pay
10 Pay
Minimum: 5,6,11 Years
Maximum: 40 Years
HDFC Life Saral Jeevan Bima stabilizes your family's financial independence even in your absence. It is a great plan to secure your financial worries, stay protected for your whole life, or coverage terms you choose for. With many more key features, HDFC Life Saral Jeevan Bima plan is a good option.
There are multiple benefits offered by HDFC Life Saral Jeevan Bima plan that are mentioned below:
For Regular Premiums (monthly, quarterly, half yearly and yearly), it is HIGHER of:
For Single Premium, it is HIGHER of:
The annualized premium would be the premium sum that is payable in the year excluding the rider premiums, taxes, loadings for the modal premiums and underwriting extra premiums in case of any.
HDFC Income Benefit on Accidental Disability Rider - Get additional income benefits over and above your sum assured in the event of total permanent disability due to an accident.
HDFC Life Protect Plus Rider - Proportional benefit of rider sum assured is paid in the event of Accidental Death or partial/total disability due to an accident or if you are diagnosed with cancer, as per the plan option chosen by you.
Policy Term | Single Pay | Monthly Pay | Yearly | Half-yearly |
Single Pay | 18,079 | 4,049 | 2,065 | |
5 Pay | 354 | 2,841 | 2,841 | |
Regular Pay | 249 | 2,454 | 1,252 |
To secure your family's needs, HDFC Life Term Insurance offers three term insurance plans, from which you can choose well-suited plan for yourself:
HDFC Click 2 protect life is a comprehensive plan, offering 3 different variants and an unlimited life cover.
Unique Features
A comprehensive term insurance plan that offers protection against Death, Disease & Disability. 3 different plan options to choose from – 75 lacs, 1cr, 1.25cr.
Unique Features
HDFC Life Saral Jeevan Bima, a term insurance plan providing flexible premium payment terms and additional rider options to customize your plan.
Unique Features
The grace period for HDFC Life Saral Jeevan Bima plan's monthly frequency is 15 days from the premium due date.
The free look period for HDFC Life Saral Jeevan Bima plan is 15 days from the date of buying the plan.
The waiting period for HDFC Life Saral Jeevan Bima plan is 45 days.
In case if the policy lapses, he/she can revive the policy within 5 years from the last unpaid due date, only the condition is the policy term has not expired. You will have to pay all unpaid premiums without any interest.
The minimum sum insured for HDFC Life Saral Jeevan Bima plan is Rs 5 lakh and there is no limit for maximum sum insured.
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See More Term Insurance Articles
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