HDFC Life Smart Term Pro
- Enhanced Protection Through Riders
- Return Of Premium
- Surrender And Maturity Benefit
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HDFC Life Smart Term Pro is a versatile term insurance plan designed to provide comprehensive life insurance coverage and financial security. This is a non-linked and no-participating plan that offers multiple key features, including flexible premium payment options for 5,8,10,12 years. In case of the unfortunate demise of the insured, the beneficiary receives a death benefit based on the chosen payout option. Moreover, on policy maturity, the plan guarantees the return of the total premium paid. With enhanced protection available through the rider, HDFC Life Smart Term Pro ensures that your loved ones are financially secure.
Let us explore the Smart Term Pro plan in this article.
HDFC Life Smart Term Pro Plan offers you a range of benefits including:
Minimum Age - 18 years Maximum Age - 60 years
Maximum Maturity Age - 80 years
Minimum term - 15 years Maximum term - 40 years
Basic Sum Assured Rs. 50,000
The policy loan is not available under HDFC Life Smart Term Pro Plan.
Annual, half-yearly, & monthly
Let's understand how the HDFC Life Smart Term Pro Plan works with a simple premium illustration.
Mr. Sanjay is a 30-year-old non-smoker earning 10 lacs or above annually. He is looking for a term plan that provides a return of premium options.
His financial advisor advised him to buy the HDFC Life Smart Term Pro Work. He visited PolicyX.com.
Let's understand how the HDFC Life Smart Term Pro Plan works for him with a premium illustration table.
| Age of policyholder | Monthly Premiums | Annual Premiums | Policy tenure | Total premiums paid | Sum assured |
| 30 years | ₹1,356/month | ₹16,272/year | 30 years | ₹9,76,320 | Rs 1 Crore |
Key Takeaways: If Mr. Sanjay dies during the policy tenure, his family will receive ₹1 Crore as a death benefit from the insurer. If Mr. Sanjay outlives the policy term, he'll get back the total premium paid towards the plan.
Here are the benefits associated with the HDFC Life Smart Term Pro
If the life insured passes away during the policy terms, the plan pays the sum assured on Death, which is more than 7 times the annualized premium, the basic sum assured, or 105% of the total premium paid.
If you terminate the policy before its maturity date, the policy will provide a surrender benefit. After at least two years of premium payment, a Guaranteed Surrender Value(GSV) is provided.
If you are unable to pay the premium on time, the company offers a grace period of 15 days.
If you are not satisfied with the plan, you can return the plan within 15 days of buying the plan.
If the policy lapses the company offers a time period of 5 years, in which you can review the policy by paying the due premium.
The plan offers multiple payout options to help your family receive financial assistance in a structured way: lump sum, lump sum with family income payout, and family income payout.
HDFC Term Insurance Plans
HDFC Term Insurance
You can add the following riders to your HDFC Life Smart Term Pro term plan:
The HDFC Life Accidental Death, Disability, and Dismemberment Rider provides financial security to your family in the event of an accident that results in disability, dismemberment, or death.
A lump sum amount is offered in case the policyholder is diagnosed with any of the 19 critical illnesses.
Here is the list of exclusions associated with the plan:
PNB MetLife Mera Term Plan Plus is a family protection plan that allows you to stay protected with a life cover up to the age of 99 years. It protects against death, disability, or disease and offers additional options, such as spouse coverage and return of premium option. If you want to know more about the plan or compare different plans, you can easily contact us through the website policyx.com or call us at 1800-4200-269.
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Bindiya is a seasoned content writer specializing in keeping readers acquainted with the insurance industry, term insurance developments, and life insurance sector shifts. With an experience of 3 years in insurance, Bindiya ensures that her readers stay well informed with the insurance developments and factually correct information.
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