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HDFC Life Capital Shield Plan

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HDFC Life Capital Shield Plan Review

HDFC Life Capital Shield Plan is an investment-cum-insurance plan that offers the potential of higher returns, by investing a part of your money in equity and the balance in debt, while also providing you with life cover. The allocation of your money to debt fund shall systematically increase over time to protect your capital.
 


Key Features of HDFC Life Capital Shield Plan

  • Protect your investment from market risks with an Assured Maturity Benefit of 101% of Total Premiums paid.
  • Pay premiums only once or for a limited period of 5 years.
  • Get increasing Loyalty Additions from the end of the 6th policy year onwards to boost the Fund Value.
  • Stay protected during the entire policy term with life insurance cover.
 

Eligibility Conditions and other restrictions in HDFC Life Capital Shield Plan:

 
Parameters Minimum Maximum
Premiums Single pay Single: Rs. 48,000 No Limit
Limited Pay (5 years) Annual: Rs. 48,000
Healf-Yearly: Rs. 24,000
Quarterly: Rs. 12,000
Monthly: Rs. 4,000
Sum Assured - Single Premium Entry Age less than 45 years 125% of Single Premium        
Entry Age equal to 45 years and above 110% of Single Premium     
Sum Assured - Limited Premium Entry Age less than 45 years 10 times Annualised Premium
 
Entry Age between to 45-54 years 7 times Annualised Premium 10 times Annualised Premium
Entry Age equal to 55 years and above 7 times Annualised Premium
Policy Term 10 years
Premium Paying Term Single
Limited: 5 Years
 


Benefits of HDFC Life Capital Shield Plan


Maturity Benefit :
Your policy matures at the end of the policy term and all your risk cover ceases. On maturity of the policy, provided all due premiums have been paid, the Life Assured will receive higher of:
  1. Fund Value
  2. Assured Maturity Benefit (as defined below)
Assured Maturity Benefit = (101% * “Total Premiums” paid till date) less the Total Partial Withdrawals made till date (if any).

Death Benefit :
In case of the Life Assured’s unfortunate demise during the Policy term, provided all due premiums have been paid, we will pay to the nominee the “Sum Assured on Death” The “Sum Assured on Death” shall be the highest of :
  1. Sum Assured less Partial withdrawals made(if any)
  2. Fund value
  3. 105% of total premiums paid till the date of death

Loyalty Additions :
Loyalty additions (as percentage of the average fund value) will be added to the fund value in the form of additional units from the end of 6th policy year onwards, provided all due premiums have been paid. The Loyalty Additions will be added for both Single Pay and Limited Pay policies. Percentage of loyalty additions will vary with the Policy Year and have been outlined below :

 

Other Benefits of HDFC Life Capital Shield Plan:


Surrender Value:
  • If you surrender before completion of the 5 years from commencement of the policy Your fund value less discontinued charges will be moved to the ‘Discontinued Policy Fund.
  1. The fund value corresponding to the ‘Discontinued Policy Fund’ will be paid out on the completion of the lock-in period.
  2. In case of death of the Life Assured before the payment of the surrender benefit, the amount in the ‘Discontinued Policy Fund’ will be paid out.
  • If you surrender after completion of the 5 years from commencement of the policy Your fund value will be paid out.
Upon payment of this benefit the policy terminates and no further benefits are payable.
 
Loans Facility:
No policy loans are available for this product.

Tax Benefit:
  • Tax benefits under section 80C of the Income-tax Act, 1961, may  available to an individual or HUF for the premiums paid subject to the conditions/ limits specified therein.
  • Benefits received under a life insurance policy may be exempt under section 10 (10D) of the Income-tax Act, 1961, subject to the conditions specified therein.
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