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HDFC Life Invest Wise Plan

HDFC Life Invest Wise Plan is a Single Premium Unit Linked Insurance Plan (ULIP). Thus, it is a non-Traditional Insurance Plan without Bonus facility.

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Maturity Benefit
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Death Benefit
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Investment Options
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Key Features

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It is a simple Unit Linked Insurance Policy without Bonus Facility
This is a Single Premium Plan
Death Benefit

Higher of Sum Assured or Fund Value is paid to the nominee as Death Benefit

Maturity Benefit

The Fund Value is paid as Maturity Benefit

Investments Options

There are 5 funds for investment purpose:

  1. Short Term Fund
  2. Income Fund
  3. Balanced Fund
  4. Blue Chip Fund
  5. Opportunities Fund
Flexibility

There are no requirement for any medicals in this plan

    • Upto 65 years, for a Sum Assured of less than or equal to Rs 20 lakhs
    • For 66 years and above, for a Sum Assured of less than or equal to Rs 1 lakh

Benefits

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Death Benefit

In case of death of the Life Insured within the Policy Tenure, the nominee gets higher of Sum Assured or Fund Value as Death Benefit and the policy terminates.

Maturity Benefit

The Fund Value is paid as Maturity Benefit on the policy maturity

Income Tax Benefit

Life Insurance premiums paid up to Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Proceeds are tax free 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 in a lump sum, whereas the policy continues till the end of the Policy Tenure. This is a policy for investment purpose for people above 45 years of age.
There are 5 funds for investment purpose where the policyholder can choose his portfolio depending upon his risk appetite.
In this plan, if the Life Insured dies within the Policy Tenure, then higher of the Sum Assured or the Fund Value is paid to the nominee as Death Benefit and the policy terminates. On maturity, the Fund Value is paid to the policyholder as Maturity Benefit.

Eligibility

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Minimum
Maximum
Sum Assured (in Rs.)
1.1 X Single Premium
Policy Term (in years)
15
Premium Payment Term (in years)
Single Premium Payment
Entry Age of Life Insured (in years)
45
70
Age at Maturity (in years)
-
85
Single Premium (in Rs.)
25,000
No Limit
Payment modes
Only Single

FAQs

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angle down iconIs rider available in this plan?

There are No Additional Riders available in this policy.

angle down iconIs Top up applicable in this plan?

Not applicable

angle down iconIs switching allowed in this plan?

Free switching is allowed at anytime.

angle down iconIs withdrawal allowed in this plan?

You are allowed to make partial withdrawals in this policy after 5 complete policy years. The minimum amount of partial withdrawal should be Rs. 10,000 and the Maximum Partial Withdrawal allowed is upto 50% of the Single Premium Paid.

angle down iconWhat happens if you stop paying the premium before 5 years?

If the policy holder stops paying the premium, the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate as per the guidelines of the IRDA and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee. The policy can be revived within 2 years from the due date of the first unpaid premium.

angle down iconWhat happens if you stop paying the premium after 5 years?

If the policy holder stops paying the premium after 5 years, then the accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will terminate immediately.

angle down iconWhat happens if you want to surrender the policy?
If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate as per the guidelines of the IRDA and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.
If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.
angle down iconWhat happens if you want a loan against your policy?

There is no loan available under this plan.