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HDFC Life Super Income Plan in Hindi >
HDFC Life Super Income Plan is an endowment plan with bonus facility. In this plan, premium needs to be paid for tenure of 8, 10 or 12 years. The Regular Income is paid for a period of 8, 10, 12 or 15 years after the completion of the Premium Paying Term. The Guaranteed Regular Income is 8 to 12.5% of Sum Assured on Maturity payable each year. Thus, the total Guaranteed Base Income would be 100% to 120% of the Sum Assured + Bonus payable on maturity.
§ Limited Payment Endowment Plan
§ Guaranteed Regular Income for a period of 8, 10, 12 or 15 years
§ Total Guaranteed Base Income would be 100% to 120% of the Sum Assured + Bonus payable on maturity
§ No medical tests necessary for this plan
COMPARE THIS PLAN WITH OTHER MONEY BACK PLANS
Death Benefit – In case of death of the Life Insured within the Policy Tenure, the nominee getsthe higher of:
· Sum Assured on Death + Accrued Reversionary Bonus + Interim Bonus (if any)
· 105% of the premiums paid till date
as Death Benefit and the policy would be terminated.
Sum Assured on Death= Higher of:
· Sum Assured on Maturity
· 10 times the Annualized Premium for entry age upto 50 years and 7 times the Annualized Premium for entry age more than 50 years
Plan Options – There are 6 Plan Options available in this policy
|
Option |
Premium Paying Term |
Payout Period |
Total Policy Tenure |
|
Option 1 |
8 |
8 |
16 |
|
Option 2 |
8 |
10 |
18 |
|
Option 3 |
10 |
10 |
20 |
|
Option 4 |
10 |
12 |
22 |
|
Option 5 |
12 |
12 |
24 |
|
Option 6 |
12 |
15 |
27 |
Guaranteed Regular Income Benefit – is expressed as a percentage of Sum Assured on Maturity
|
Option |
Guaranteed Base Income as % of Sum Assured on Maturity |
|
|
Annual Guaranteed Base Income |
Total Guaranteed Base Income |
|
|
Option 1 |
12.5% |
100% |
|
Option 2 |
10% |
100% |
|
Option 3 |
12% |
120% |
|
Option 4 |
10% |
120% |
|
Option 5 |
10% |
120% |
|
Option 6 |
8% |
150% |
Maturity Benefit–On survival till the end of the policy tenure, the policyholder gets last Guaranteed Base Income Payout + Accrued Reversionary Bonus + Interim Bonus (if any) + Terminal Bonus (if any) as Maturity Benefit and the policy terminates.
Guaranteed Additions: There is Guaranteed Additions for each completed policy year:
Thus, the total Maturity Benefit is as mentioned
|
Policy Term |
Maturity Benefit as % of Sum Assured |
|
15 years |
220% |
|
16 years |
228% |
|
17 years |
236% |
|
18 years |
244% |
|
19 years |
252% |
|
20 years |
280% |
|
21 years |
289% |
|
22 years |
298% |
|
23 years |
307% |
|
24 years |
316% |
|
25 years |
325% |
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 Proceeds are tax free under section 10(10)D subject to fulfilment of terms and conditions.
|
|
Minimum |
Maximum |
|
Premium (in Rs.) |
24,000 |
No Limit |
|
Policy Term (in years) |
16 |
27 |
|
Premium Payment Term (in years) |
8, 10 and 12 |
|
|
Payout Period(in years) |
8, 10, 12 and 15 |
|
|
Entry Age of Life Insured (in years) |
2 years for Policy of 16 years and 30 days for Policy of 18 to 27 years |
59 (for policy term 16 years) |
|
Age at Maturity(in years) |
18 |
75 |
|
Payment modes |
Annual, Semi-Annual, Quarterly and Monthly(ECS) |
|
Riders – There are no additional riders in this plan
You stop paying the premium - If the policy holder stops paying the premium, the policy lapses and the policy converts it to a reduced paid up and continues with reduced benefits. The policy can be revived within 2 years from the due date of the first unpaid premium.
You want to surrender the policy–There are Guaranteed Surrender Benefits in this plan after
· The first 2 years’ premiums have been paid for premium paying term of 8 years
· The first 3 years’ premiums have been paid for premium paying term of 10and 12 years
The minimum GSV is the sum of Total Premiums Paid + % of Accrued Bonuses. There is Special Surrender Value in this plan as well.
You want a loan against your policy – Loan facility is available after the policy acquires Surrender Value.
