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HDFC Life Endowment Gain Plan

HDFC Endowment Gain Plan is a Traditional Participating Endowment Plan. Thus, it is a non-linked Insurance Plan with Bonus facility.

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Death Benefit
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Maturity Benefit
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Rider Benefit
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Key Features

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This is a Traditional Endowment Plan with Bonus facility
Bonus

This plan has Simple Reversionary Bonus compounded annually

Maturity Benefit

On Policy Maturity, the basic Sum Assured + the Reversionary Bonus would be paid to the Life Insured as Maturity Benefit

Death Benefit

On unfortunate Death of the Life Insured within the Policy Tenure, the basic Sum Assured + the accrued Reversionary Bonus would be paid to the nominee as Death Benefit

Rider Benefit

There are 2 additional riders available with this plan:

    • Critical Illness Benefit rider
    • Accidental Death Benefit rider

Benefits

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Death Benefit

If the Life Insured dies within the Policy Tenure, the basic Sum Assured + the accrued Reversionary Bonus would be paid to the nominee as Death Benefit and the policy would be terminated.

Maturity Benefit

On maturity, the basic Sum Assured + the Reversionary Bonus would be paid to the Life Insured as Maturity Benefit and the policy would be terminated. Terminal Bonus may also be paid at the end of the Policy Tenure.

Income Tax Benefit

Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Benefit is tax fee under section 10(10)D subject to fulfilment of terms and conditions.

How it works

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In this plan, premium needs to be paid till the end of the policy tenure as selected.
This policy accrues Simple Reversionary Bonus compounded annually. When the policy matures, the basic Sum Assured + the Reversionary Bonus would be paid to the Life Insured as Maturity Benefit. Terminal Bonus may also be paid at the end of the Policy Tenure.
However, if the Life Insured meets with an unfortunate death within the Policy Tenure, the basic Sum Assured + the accrued Reversionary Bonus would be paid to the nominee as Death Benefit and the policy would be terminated.
There are 2 additional rider benefits along with this plan.
Sample illustration of premium of HDFC Endowment Gain Plan:
Age of Life Insured = 20, 30 and 40 years respectively
Policy Term = 20 years
Sum Assured= Rs.2,00,000
HDFC Life Endowment Gain Insurance Plan Sample Premims

Eligibility

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Minimum
Maximum
Policy Term (in years)
10
30
Premium Payment Term (in years)
Equal to Policy Tenure
Entry Age of Life Insured without riders (in years)
18
60
Entry Age of Life Insured with riders (in years)
18
55
Age at Maturity without rider (in years)
-
75
Age at Maturity with rider (in years)
-
70 for CI
65 for ADB
Annual Premium (in Rs)
5000
No Limit
Payment modes
Yearly, Half-Yearly, Quarterly and Monthly

FAQs

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angle down iconWhat happens if you stop paying the premium?

The policy will lapse if the premium stops. However, it can be revived within 3 years from the date of first unpaid premium.

angle down iconWhat happens if you want to surrender the policy?
If premiums for 3 years have been paid up, then surrender of policy is allowed.
Minimum Guaranteed Surrender Value= 50% of all Premiums paid – 1st Year’s Premium
angle down iconWhat happens if you want a loan against your policy?

There is no Loan available under this plan.