Best Money Back Policy 2023 – Check Feature, Benefits and Eligibility for Money Back Policy
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HDFC life investment plans offer a wide range of products at competitive rates in the insurance sector. Term plans, Child Plans, Savings Plans are some of the HDFC life investment plans available in the market.
Life Investment plans are also known as Conventional policies under which money is invested according to the insurance act guidelines. Here, the insurance company promises the policyholder a sum assured as death benefit, which is payable if the policyholder dies during the term of the policy. Depending on the particular plan, the policyholder may also receive maturity benefit at maturity along with accrued bonuses.
Here are some features of traditional Investment Plans:
There are several attractive benefits and features offered by HDFC Life Insurance company under its traditional and HDFC investment plans as discussed below:
This is a traditional endowment plan that comes with the following features:
Features
Eligibility Criteria
Features | Minimum | Maximum |
Age of Entry | 30 days | 45 years |
Age of Maturity | 18 years | 70 years |
Term of Policy | 15 years | 25 years |
Assured Sum | INR 112, 953 | No Maximum Limit |
Premium Paid Annually | INR 30,000 | No Maximum Limit |
Term of Premium Payment | 5, 8, 10 years | – |
Frequency of Premium Payment | Yearly, half-yearly, quarterly, monthly | – |
This is a savings plan that comes with a regular income. The features include:
Features
Eligibility Criteria
Features | Minimum | Maximum |
Age of Entry | 30 days | 59 years |
Age of Maturity | 18 years | 75 years |
Term of Policy | 16 years | 27 years |
Assured Sum | INR 128, 337 | No Maximum Limit |
Premium Paid Annually | INR 24,000 | No Maximum Limit |
Term of Premium Payment | 8, 10, 12 years | – |
Frequency of Premium Payment | Yearly, half-yearly, quarterly, monthly | – |
Yet another HDFC investment schemes of endowment plan with features such as:
Features
Eligibility
Features | Minimum | Maximum |
Age of Entry | 30 days | 60 years |
Age of Maturity | 18 years | 75 years |
Term of Policy | 10, 15, 20 years | – |
Assured Sum | INR 49, 447 | No Maximum Limit |
Premium Paid Annually | INR 12,000 | No Maximum Limit |
Term of Premium Payment | 7, 10 years | – |
Frequency of Premium Payment | Yearly, half-yearly, quarterly, monthly | – |
This one-time investment plan of HDFC is a traditional endowment plan offers the below mentioned benefits:
Features
Eligibility
Features | Minimum | Maximum |
Age of Entry | 30 days | 60 years |
Age of Maturity | 18 years | 75 years |
Term of Policy | 15 years | 30 years |
Assured Sum | INR 245, 145 | No Maximum Limit |
Premium Paid Annually | INR 24,000 | No Maximum Limit |
Term of Premium Payment | Equal to policy term | – |
Frequency of Premium Payment | Yearly, half-yearly, quarterly, monthly | – |
This conventional endowment plan is an HDFC guaranteed return plan that can be easily converted to a whole life plan. The features include:
Features
Eligibility
Features | Minimum | Maximum |
Age of Entry | 30 days | 60 years |
Age of Maturity | 18 years | 70 years |
Term of Policy | 15 years | 30 years or up to 100 years of age |
Assured Sum | INR 65, 463 | No Maximum Limit |
Premium Paid Annually | INR 12,000 | No Maximum Limit |
Term of Premium Payment | 5 years | – |
Frequency of Premium Payment | Yearly, half-yearly, quarterly, monthly | – |
This is again a traditional HDFC savings plan with below mentioned features, such as;
Features
Eligibility
Features | Minimum | Maximum |
Age of Entry | 18 years | 55 years |
Age of Maturity | 30 years | 70 years |
Term of Policy | 12 years | 15 years |
Assured Sum | INR 28, 465 | No Maximum Limit |
Premium Paid Annually | INR 5,000 | No Maximum Limit |
Term of Premium Payment | 8, 10 years | – |
Frequency of Premium Payment | Yearly, half-yearly, quarterly, monthly | – |
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You can make payment for your HDFC investment plans via any method such as:
EBPP (Electronic Bill Presentment and Payment) bill pay
Via Drop box
Through Bank debit card
Via Cash/Cheque
NEFT
For online payment, visit the e-portal of the insurer and enter the details of your policy such as policy number and DOB of and policyholder
In the next step, make the payment with your debit/ credit card or through online bank account
Confirm the payment details and get the receipt of the online premium payment
You can check the policy status of HDFC Life investment plans online. For that you have to be a registered user. All you need is to log into the insurer’s website using your client ID and password to check the policy status.
To surrender HDFC Life insurance policy, policyholders have to attach all the relevant papers together with the surrender form, which has to be duly filled. You have to then submit them at a branch nearby. The amount will be refunded within 72 hours in your bank account after deducting the applicable charges, stamp duty etc.
Here are the steps to renew your HDFC Life insurance policy online:
Login to your insurer’s website with your customer ID and password
Choose the policy to be renewed and click on the tab of ‘Pay Renewal Premium Now’
Pay via Credit/Debit Card or NEFT
Confirm the payment details and print receipt
PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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