HDFC ULIP Benefits and Reviews:
HDFC is one of the largest companies in India which provide insurance services. It takes the 4th position in regard with the market share which is a decent 4.7 % (2015 – 16 financial year). HDFC was formed in the year 2000. HDFC Life is an insurance policyand plan provider which offers a large number of insurance plans to choose from in the sectors of life, travel, health, child plans,retirement, etc. HDFC Life is HDFC Standard Life Insurance Company Limited which is a joint venture between one of India’s largest investment companies – Standard Life Aberdeen plc and one of India’s leading housing finance institutions – Housing Development Finance Corporation Limit. The company offers the public with lots of banking and financial services and products to take up and benefit from.
ULIP – Unit Linked Insurance Plan
A ULIP is an insurance plan that an individual can take up and it also provides the person with an investment opportunity by investing the premiums paid by them into carious securities and money markets and funds so that the capital is appreciated and the insured gets a return on their investments. It is a plan which provides double benefits for the price of one.
HDFC ULIP Plans
- HDFC SL Crest
The HDFC SL Crest is a limited premiums paying unit linked insurance. There are 4 fund options under the HDFC SL Crest to choose from. The tenure of the SL Crest plan is 10 years and the maturity age in the HDFC SL Crest insurance policy is 65 years of age. In the case of the death of the policy bearer, the sum assured is paid to the family of the insured. There are two cases of death that this policy considers before giving the benefits: In case the insured dies before the completion of 60 years of age, then the higher amount of either the fund value or the sum assured net of partial withdrawals made 2 years before the death will be paid. But, in case the insured dies any time after finishing their 60th birthday, then the higher amount of either the fund value which is 105 % of the entire premium or the sum assured net of partial withdrawals made after age 58 years is paid to the nominees as the death benefit. Certain tax exemptions are allowed under Section 10 (10 D) and Section 80 C of the Income Tax Act. The premium paying tenure of the HDFC SL Crest insurance plan is 5 years. To be able to enter into this plan, the potential insured has to be a minimum of 14 years and cannot be more than 55 years of age. The sum assured will be the sum amount of the value of 10 / 7 times the annual premium or 20 times the annual premium.
- HDFC Life Pension Super Plus
The life pension super plus plan by HDFC is a pension or retirement Plan. On the death of the insured, the nominees are given a death benefit which is valued at a rate of 105 % of all the premiums that the insurance holder has paid or the sum of 6 % of the premiums paid per annum, whichever of these amounts holds a higher value is considered to be the death benefit that is to be paid to the nominee or the family of the insurance plan bearer. The tenure of this policy can range any number of years between 10 years to 20 years.The minimum age for the vesting this plan is 55 years and it cannot be vested after the age of 75 years. After 10 years in the tenure of the policy have ended, a sum amounting to 102.5 % is allocated to the value of the fund.To become the policy holder of this plan, the potential insured has to be a minimum of 35 years and cannot be more than the age of 65 years. When the insurance policy is vested, the insurance company will pay an amount of 101 % of the paid premiums by the insured or the fund value, whichever amount holds a higher value in monetary terms.
- HDFC Life Click 2 Invest
The HDFC Life Click 2 Invest is a savings and investments plan offered by HDFC to invest into. In the event of the unfortunate death of the policy bearer, this insurance policy will give a death benefit to the nominees or the family of the insured. The amount that is to be given as the benefit of death is either one of the two following values, whoever is a higher amount: the fund of the insurance up until the death of the insured or it is a percentage of 105 % of the entire amount of the premiums that were paid till the death of the insured by them. There are 8 types of this fund available to choose from. The tax benefits are great too. Certain tax exemptions are allowed under Section 80 C and Section 10 (10 D) of the Income Tax Act, India. The term of the plan can range any number of years between 5 years to 20 years. The sum assured of this HDFC ULIP policy is the value of 1.25 times the Single Premium or 10 / 7 times the premium per annum. The minimum maturity age of the insurance plan is 18 years and the maximum maturity age is 75 years. If you want to enter into the click 2 Invest plan, you have to be a minimum of 30 days old and cannot be more than the age of 65 years.
You can see that the HDFC ULIP plans have a lot of benefits to offer to the investors or the policy holders. Invest into any one of them and get good return on investments as well as an insurance policy cover. Above are few of the best HDFC ULIP plans that are offered by the company which you can choose from according to your likes.