NAV Review and Analysis of HDFC ProGrowth Plus’ Funds. ID proof (PAN Card, Aadhaar Card, P… The HDFC Life ProGrowth Plus Policy offers 4 different fund options with varying risk and return profiles. Know More. - In this variant of the plan, an inbuilt Accidental Death Benefit rider. HDFC Life ClassicAssure Plus Form No: P501-113 & UIN: 101N089V01 is a traditional insurance product offered by HDFC Life. HDFC Standard Life Insurance Company Limited is the name of our Insurance company and HDFC SL Progrowth Super II UIN 101L066V01 is the name of the plan. HDFC Pro Growth Super II Plan is a unit linked insurance plan (ULIP), such that if the Life Insured dies within the policy tenure, the nominee would receive both the Sum Assured and the Fund Value as Death Benefit. ... HDFC Life Sanchay Plus. The Fund Value is paid as Maturity Benefit on the policy maturity. HDFC Life ProGrowth Plus - Opportunities Fund: Get the Latest NAV Value, Performance and Returns of HDFC Life ProGrowth Plus - Opportunities Fund. For age<45 yrs, SA=Higher of 10 X AP or 0.5 X PT X AP, For age>=45 yrs, SA=Higher of 7 X AP or 0.25 X PT X AP. The premiums paid could be used over all of the fund options, a specific few as chosen by the policyholder or even in a single one. In other words, products such as HDFC Progrowth Plus combine insurance and investment in one instrument. This is a Unit Link Insurance Plan, which helps you to channelize your savings by making the most of the equities. This charge may be levied at the beginning of each policy month from the fund. 10,000 and the Maximum Partial Withdrawal allowed is upto 300% of the original Regular Premium amount such that the Fund Value does not fall below 150% of the original Regular Premium. Thus, it is a non-Traditional Insurance Plan without Bonus facility. HDFC Life ProGrowth Plus is a savings-cum insurance plan that provides customers extensive life cover and the flexibility of creating investment strategies based on their risk appetite. The policy can be revived within 2 years from the due date of the first unpaid premium. HDFC Life Click2Invest ULIP Plan – Review, Details & Benefits, Life Insurance Corporation of India (LIC), This plan is a ULIP plan with Regular Pay option, This Plan provides 2 coverage options called Life Options and Extra Life Option, The following 4 investment funds are available in this plan which is provided by, The insured will get the total Fund Value on Maturity under HDFC Life Progrowth Plus, Under HDFC Life Progrowth Plus, 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 under HDFC Life Progrowth Plus, higher of the Sum Assured net of Partial Withdrawals made 2 years prior to death or Fund Value or 105% of premiums paid is payable to the nominee if attained age is less than 60 years, Under HDFC Life Progrowth Plus plan, on or after attaining 60 years, higher of SA net of Partial Withdrawals made after age 58 years or Fund Value or 105% of premiums paid is payable, It provides an additional Accidental Death Benefit equal to the SA is payable under the Extra Life Cover Option if the policyholder meets with accidental death. Accidental Death benefit, Critical Illness benefit and Accidental Total & Permanent Disability (ATPD) benefit are inbuilt add-ons of the plan. The Fund Value is paid as Maturity Benefit. All Rights Reserved.. *Please note that the quotes shown will be from, Written By: PolicyBazaar - Updated: 12 June 2020, Follow, like, tweet or post. is a Unit Linked Insurance Plan (ULIP). In the Settlement Option of the HDFC Life ProGrowth Plus Policy, the total Fund Value is payable in the form of regular payments over a period of up to five years. Policy Termination or Surrender Benefit: Policyholder of HDFC Progrowth Plus is allowed to surrender the policy after 5 completed years. HDFC Progrowth Plus Review & Charges. In the event of death of the insured, an ULIP like HDFC Progrowth Plus pays the higher of the life cover or fund value to the dependent family members/nominees of the policyholder. All You Need To Know. In this plan you also enjoy life insurance coverage so that you’re loved ones financial future is secured even in your absence. Fact: Another myth about investing in ULIPs is that they are risky and unsafe investment products because they only invest in equities. In this plan, if the Life Insured dies within the Policy Tenure, then higher of the Sum Assured or the Fund Value is paid to the nominee as Death Benefit and the policy terminates. Policybazaar does not in any form or manner endorse the information so provided on the website and strives to provide factual and unbiased information to customers to assist in making informed insurance choices. It is exclusive of any expense loadings levied either by cancellation of units or by debiting the premium but not both. Let’s review the returns of the funds HDFC Life ProGrowth Plus has produced over the past 5 years. We Would love to interact with you. HDFC Life ProGrowth Plus Plan Details. – In this plan, premium needs to be paid till the end of the Policy Tenure. Overall charges cannot exceed the prescribed limit set by the regulator. 06 Registration Code No. Lease Agreement, Gas Connection Card or Letter, or Bank Statement (not over 1 month old), Passport, Permanent Driving License or Ration Card, You can revive your policy within two years from lapse date of discontinuance, or, You can withdraw the Policy completely, without getting any risk cover or benefit. IRDAI/WBA21/15 Valid till 13/07/2021. Higher of 10*annual premium or 0.5*term*annual premium for ages<45 yrs. At maturity of the policy, you can choose to accept the fund value as a lump sum amount or you can even opt for the settlement option. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. The minimum amount of partial withdrawal should be Rs. Protect your family's future goals at just Rs. growth. Fact: It is a myth that ULIPs give low returns. In this plan you can choose your regular premium and the investment fund(s). It is charged daily and the daily unit price under HDFC Progrowth Plus is calculated after deducting the fund management charge. Insurance is the subject matter of solicitation.Visitors are hereby informed that their information submitted on the website may be shared with insurers. Fact: This is a myth because the fact is that ULIPs like HDFC Life Progrowth Plus can be discontinued after a minimum lock-in period of 5 years without paying any surrender charges. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee. Conclusion HDFC SL ProGrowth Flexi life insurance plan is one of the best instruments that give valuable financial protection to your loved ones and family in your absence. Tax Benefits: The policyholder is eligible to receive tax benefits under sections 80C and 10(10D) of the Indian Income TAX Act, 1961, on the premiums paid for the HDFC life SL ProGrowth … There is an inbuilt Accidental Death Benefit Rider under the Extra Life Option in the plan. It allows one to effectively channelize savings and counter the effects of inflation by making the most of equities and other asset classes. Fact: Additional optional riders like Accidental Death Benefit, Waiver of Premium, Family Income Benefit and Hospital Cash Benefit enhance the scope of HDFC Life Progrowth Plus and other unit linked insurance plans. Common ones are discussed and debunked below: Myth 1: ULIPs are costly due to higher costs. In case you surrender the HDFC Life ProGrowth Plus Plan before the fifth policy year is complete, your total Fund Value excluding the relevant charges will be added to the (DPF) Discontinued Policy Fund and the takings from the same shall be payable post the lock-in period of the policy is completed. However, if the Life Insured meets with an accidental death and had opted for Extra Life Option, then he would an additional Sum Assured as Accidental Death Benefit. No withdrawals or switches shall be allowed while the settlement period is going on. If the Life Insured meets with an accidental death and had opted for Extra Life Option, then he would an additional Sum Assured as Accidental Death Benefit. With HDFC SL ProGrowth Flexi, you have a smart savings-cum-insurance plan that will enable you to simply provide the finest for your loved ones. 17/day* - HDFC Life Click 2 Protect 3D plus. You stop paying the premium after 5 years -. For payments made post 3:00 PM IST, the premium receipt will be available on My Account on the next working day. Reason(s) for policy surrender and the surrender form needs to be submitted at the nearest HDFC Life Insurance branch, along with the following documents: 1. Your capital will stay invested in the funds of your choice and investment risk, as during the term of the policy, shall be applicable to it. This investment plan by HDFC assists you in protecting your dependents from an unprecedented event like death, by offering a substantial death benefit. HDFC Life Single Premium Pension Super Plan. One may even opt for a balanced fund which comprises of a mixture of equity and debt, balancing risk with stability. Life Insurance premiums paid up to Rs. There are various options of combining the basic Death Benefit along with riders to increase protection. India's 1st IRDAI Approved Insurance Web Aggregator, NAV of all funds in HDFC Life Pro Growth Plus Plan, Similar Withdrawn ULIP Plans from HDFC Life, Important: Insurance is the subject matter of solicitation | © 2009-2020 MyInsuranceClub.com. Know More. HDFC Life SL ProGrowth Flexi is a savings-cum insurance ULIP that enables you to financially secure your future. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges. The table below shows the HDFC ProGrowth Plus NAV for all the funds on 17 Feb 2020 (present) and 18 Feb 2015 with respective 5 year return rate. This is a participating plan. Is highest in the first unpaid premium IRDAI Web aggregator registration no insurance product offered by HDFC you! Cost much less than before even opt for a balanced fund which comprises a... On this website is of 5 years - savings in an effective manner 30 days for other modes in Progrowth! 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