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HDFC Life Endowment Gain Plan
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This plan has been withdrawn by the insurance company and is no longer available for sale.
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.
How it works – 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.
Key Features of HDFC Life Endowment Gain Insurance Plan
This is a Traditional Endowment Plan with Bonus facility
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 nominee as Death Benefit
There are 2 additional riders available with this plan:
Critical Illness Benefit rider
Accidental Death Benefit rider
COMPARE THIS PLAN WITH OTHER ENDOWMENT PLANS
Benefits you get from HDFC Life Endowment Gain Insurance Policy
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.
Eligibility conditions & other restrictions in HDFC Endowment Gain Policy
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
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
Additional Features and Benefits of HDFC Endowment Gain Plan
Riders – There are 2Additional Riders available with this policy:
Critical Illness Benefit Rider
Accidental Death Benefit Rider
What 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.
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
You want a loan against your policy - There is no Loan available under this plan.
