Death Benefit: HDFC Life Guaranteed Wealth Plus ensures your family’s financial security by providing the Sum Assured on Death as a lump sum in the event of the life assured’s demise during the policy term. The Sum Assured on Death is determined as the higher of:
- X times the annualized premiums for limited pay, or 1.25 times the single premium for the Single Premium Payment option for the base policy; or
- 105% of the Total Premiums Paid up to the date of death.
Maturity Benefit: For Variant 1 – Lump Sum Variant, a fixed percentage of either the single premium or the total Annualized Premiums paid under the policy is payable as a lump sum maturity benefit at the end of the policy term. For Variant 2 – Income Variant, a lump sum equal to 100% of the total premiums paid during the policy term is received at the end of the policy term.
Survival Benefit: Under the Lump Sum Variant, no survival benefit is applicable. However, with the Income Variant, the policyholder receives Guaranteed Income in arrears from the 7th to the 14th policy year, depending on the chosen payout frequency. These percentages are based on the life assured’s age, annualized premium band, and death benefit multiple chosen at policy inception.