HDFC Life Endowment Assurance Plan
HDFC Endowment Assurance Plan is a Traditional Participating Endowment Plan. Thus, it is a non-linked Insurance Plan with Bonus facility.
Compare this plan with other Investment Plans
HDFC Life Endowment Assurance Plan - Key Features
This plan has Simple Reversionary Bonus compounded annually
On Policy Maturity, the basic Sum Assured + the Reversionary Bonus would be paid to the Life Insured as Maturity 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 nomi
There are 3 additional riders available with this plan
HDFC Life Endowment Assurance Plan - Benefits
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 Ben
On maturity, the basic Sum Assured + the Reversionary Bonus would be paid to the Life Insured as Maturity Benefit and the policy would be terminate
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 Ben
There are 3 Additional Riders available with this policy:
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How HDFC Life Endowment Assurance Plan Works?
In this plan, premium needs to be paid till the end of the policy tenure, i.e. for the entire period of 10 years.
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 3 additional rider benefits along with this plan.
Sample Premiums in HDFC Endowment Assurance Plan:
Sum Assured = Rs. 5 lakhs
Term of Policy = 20 years
Eligibility conditions and other restrictions in HDFC Endowment Assurance Plan
| 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 for CI and ADB 50 for WOP |
| Age at Maturity without rider (in years) | - | 75 |
| Age at Maturity with rider (in years) | - | 70 for CI 65 for ADB 60 for WOP |
| Payment modes | Yearly, Half-Yearly, Quarterly and Monthly | |
HDFC Life Endowment Assurance Plan - FAQs
The policy will lapse if the premium stops. However, it can be revived within 3 years from the date of first unpaid premium.
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
There is no Loan available under this plan.
