HDFC Life Insurance Co. Ltd
HDFC Life Insurance Company Ltd. is a prominent life insurance company in India. It is a joint venture between HDFC Ltd., India's leading housing finance institution and Standard Life, a UK based insurance company.
HDFC Life's offers insurance products both for individual and groups.
HDFC Ltd. holds 72.37% and Standard Life Ltd. holds 26% of equity in the joint venture, while the rest is held by others.
Investment Plan -Assurance Plan
|Minimum Sum Assured||NA|
|Maximum Sum Assured||500000|
|Minimum Entry Age||18|
|Maximum Entry Age||50|
|Maximum Maturity Age||60 Years|
|Paying Term||10 years|
|Payment Frequency||Monthly,Quarterly,Half Yearly,Yearly|
|Exclusions||No benefit amount indicated if the death of the Life Assured is caused directly or indirectly by suicide within one year of the Date of Commencement or the date of issue of the Policy, if later.|
|Surrender Value||The plan can be surrendered for cash value before maturity|
|Tax Implications||As per the provisions of Section 80C and Section 10(10D) of the Income Tax Act, 1961|
|Death Benefit||Sum Assured plus any bonuses additions|
|Survival benefit||Not Applicable|
|Accidental Death Benefit||A lump sum payment in case of unfortunate death within the policy term. The lump sum is the basic Sum Assured plus any bonus additions.|
|Loan Available||Not Applicable|
|Surrender Value get as Loan||Not Applicable|
|Repayment Tenure||Not Applicable|
|Optional Riders||Not Applicable|
|Maturity Benefit||At maturity, the plan pays out the basic Sum Assured plus Reversionary Bonuses declared during the policy term. Interim or Terminal Bonus may also be payable, if declared|