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ProGrowth Maximiser Plan
Introduction/Overview HDFC SL ProGrowth Maximiser is a Unit Linked Insurance plan providing the dual benefit of capital appreciation through market participation and life insurance coverage. The plan is a single pay plan where premium once paid accumulates market returns. Key Features It is a unit linked plan with Single Pay option of premium payment Plan can be bought by filling a Simple Medical Questionnaire (SMQ) thereby removing the requirement of medical tests The following 4 funds are available for investment Blue chip Fund Opportunities Fund Balanced Fund Income Fund
Product Specification
Policy Details Grace Period: no application of grace period in single pay plans Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim. Inclusions Partial withdrawals are allowed every year with a minimum value of Rs.10,000 Switches are allowed every year for switching between funds Top-ups can be done through single premiums of a minimum of 10,000 The top-up will increase the Sum Assured where the top-up SA will be equal to the same minimum multiples as applied in calculation of basic SA Exclusions The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as on that date.
Benefits
The insured will get the total Fund Value on Maturity Maturity Proceeds can be availed in equal instalments post maturity over a period of 5 years through the Settlement Option On death of the policyholder, higher of the Sum Assured net of partial withdrawals made 2 years prior to death or total Fund Value or 105% of premiums paid is payable to the nominee if age attained was less than 60 years If age attained was equal to or more than 60 years, higher of Sum Assured net of partial withdrawals made after age 58 years or total Fund Value or 105% of premiums paid is payable Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.
ProGrowth Maximiser Plan
Introduction/Overview HDFC SL ProGrowth Maximiser is a Unit Linked Insurance plan providing the dual benefit of capital appreciation through market participation and life insurance coverage. The plan is a single pay plan where premium once paid accumulates market returns. Key Features It is a unit linked plan with Single Pay option of premium payment Plan can be bought by filling a Simple Medical Questionnaire (SMQ) thereby removing the requirement of medical tests The following 4 funds are available for investment Blue chip Fund Opportunities Fund Balanced Fund Income Fund
Product Specification
Policy Details Grace Period: no application of grace period in single pay plans Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim. Inclusions Partial withdrawals are allowed every year with a minimum value of Rs.10,000 Switches are allowed every year for switching between funds Top-ups can be done through single premiums of a minimum of 10,000 The top-up will increase the Sum Assured where the top-up SA will be equal to the same minimum multiples as applied in calculation of basic SA Exclusions The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as on that date.
Benefits
The insured will get the total Fund Value on Maturity Maturity Proceeds can be availed in equal instalments post maturity over a period of 5 years through the Settlement Option On death of the policyholder, higher of the Sum Assured net of partial withdrawals made 2 years prior to death or total Fund Value or 105% of premiums paid is payable to the nominee if age attained was less than 60 years If age attained was equal to or more than 60 years, higher of Sum Assured net of partial withdrawals made after age 58 years or total Fund Value or 105% of premiums paid is payable Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.