Disclosure - HDFC SL ProGrowth Flexi

Tue, 26 Nov 2024

1 min

Disclaimer 

• Terms and Conditions

  In unit linked policies, the investment risk in the investment portfolio is borne by the policyholder. The Unit Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender/withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of fifth year.
  
  Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. The name of the company, name of the brand and name of the contract does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges, from your insurance agent or the intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.For Single premium, the special addition is 1% of the Single premium at inception only.
  
  1. Opt for Settlement Option to receive maturity benefit in periodical installments.
  
  2. Partial withdrawals can be made from your funds after completion of 5 policy years, provided the Life Assured is atleast 18 years of age.
  
  3. As per Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.
  
  4. Additional Sum Assured on accidental death is paid under Extra Life Option.
  
  5. In your policy documents we give the Critical Illness benefit the unique name of Extra Health Benefit, Accidental Death Benefit is called Extra Life Benefit and Accidental Total & Permanent Disability Benefit is called Extra Disability Benefit.
  
  6. Death Benefit under the product - Sum Assured less all withdrawals made during the two year period immediately preceding the death of the Life Assured. Unit Fund Value based on the number of units and the Unit Price of the fund is also payable. The Minimum death benefit will be at least 105% of the total premiums paid.
  
  7. 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.
  
  8. Assured maturity benefit will be paid only on policy maturity provided all due premiums have been paid and will not apply on death or surrender.
  
  9. Individual death claim settlement ratio by number of policies as per audited annual statistics for FY 2022-23.
  
  10. Source - Crisil.com.
  
  11. For Single premium, the special addition is 1% of the Single premium at inception only
  
  12. Available under Level Cover with Capital Guarantee and Decreasing Cover with Capital Guarantee plan options
  
  13. Save 46,800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are a Regular Individual, Fall under 30% income tax slab having taxable income less than Rs.50 lakh and Opt for Old tax regime
  
  14. In ULIP Plan, the investment risks in the investment portfolio is borne by the policyholder. @17.29% p.a. rate of return. Rate of return shown is fund performance of Diversified Equity Fund (for last 5 years). Please note that past fund performance is not indicative of future performance fund. Life Insurance is available in this plan. T&C Apply