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HDFC Term Assurance Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

HDFC Term Assurance Plan

HDFC Life Term Assurance is a pure term plan where the sum assured is paid to the nominee on death of the life insured and nothing is payable on maturity. There are certain attractive benefits which makes this plan attractive.

 

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Key Features of HDFC Term Assurance Plan

  • It is a pure Term Insurance Policy with Death Benefit only
  • Provides a large sum assured discount for sum assured more than Rs 25 lakhs.
  • Unique feature of covering joint life

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    Benefits you get from HDFC Term Assurance Plan

    • Death Benefit – being a pure term plan, the sum assured is paid to the nominee if the life insured dies during the policy tenure.
    • Maturity Benefit – There are no maturity benefits under this plan.
    • 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

     

    Eligibility conditions and other restrictions in HDFC Term Assurance Plan

     

     

    Minimum

    Maximum

    Sum Assured (in Rs.)

    8,00,000

    No Limit

    Policy Term (in years)

    10 for Regular

    2 for Single

    30 for Regular

    15 for Single

    Premium Payment Term (in years)

    Single

    Equal to policy term

    Entry Age of Policyholder

    18

    55

    Age at Maturity

    -

    65

    Single premium

     

     

    Payment modes

    Yearly, Half-yearly, quarterly and single


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    Sample illustration of premium amount in HDFC Term Assurance Plan

     The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 50 lakhs and Policy Term = 20 years

    HDFC Life Term Assurance Plan Premium Rates

     

    Additional Features and Benefits of HDFC Term Assurance Plan

    Riders – There are 3 riders available in this plan

    1.     Critical Illness Benefit

    2.     Accidental Death Benefit

    3.     Accelerated Sum Assured Benefit

     

    What happens if?

    • You stop paying the premium – the policy would lapse and all benefits would stop once the premium is not paid.
    • You want to surrender the policy – There are no surrender benefits under this term plan.
    • You want a loan against your policy – Loan facility is not available under this policy.




     

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