The ‘HDFC Life Click 2 Invest – ULIP’ is a Unit Linked Non-Participating Life Insurance Plan that offers market-linked returns along with essential protection for your family. In addition to protection, this plan provides investment opportunities with 13 different fund options to choose from.
A. Maturity Benefit:
B. Death Benefit:
C. Partial Withdrawal:
D. Discontinuance of Premiums:
E. Revival of Discontinued Policies:
The HDFC Life Guaranteed Pension Plan is a non-participating deferred pension plan that provides assured benefits upon death or at vesting. This product includes guaranteed additions accrued annually and a lump sum vesting addition payable at vesting. It is ideal for individuals looking to secure their retirement with guaranteed returns on their invested corpus, ensuring a stable post-retirement income.
Guaranteed Additions are set at 3% of the Sum Assured on vesting for each completed policy year.
The Vesting Addition varies according to the policy term.
Upon surviving until the vesting date and fully paying all due premiums, you will receive the following:
Regulations dictate how this Vesting Benefit will be paid. Refer to the ‘Policy Proceeds’ section for more details.
In the event of the life assured’s death, the nominee will receive an Assured Death Benefit, which is the total premiums paid to date, accumulated at a guaranteed rate of 6% per annum, compounded annually. The minimum death benefit will always be at least 105% of the premiums paid.
The nominee can choose to use the death benefits, in full or part, to purchase an immediate annuity from us. Alternatively, the nominee or beneficiary has the option to buy an annuity from any other insurer at the prevailing annuity rate for up to 50% of the policy proceeds net of commutation, as stipulated by the Authority. They can also withdraw the entire death benefit as a lump sum.
Please note that the 6% annual guaranteed rate on premiums paid to date is only for calculating the death benefit and not the vesting benefit.
Total Premiums Paid refers to the sum of all received premiums, excluding any extra premiums, rider premiums, and taxes.
For QROPS policyholders, the following terms and conditions apply:
If this product is purchased as QROPS through the transfer of UK tax-relieved assets, access to policy benefits (both commutation and annuitization) is restricted until the policyholder reaches the age of 55 or the policy acquires Guaranteed Surrender Value (GSV), whichever is later.
If this product is purchased as QROPS through the transfer of UK tax-relieved assets, the proceeds from cancellation during the free-look period will be returned to the fund house from which the money was received.