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Higher insurance cover along with market-linked returns
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Most charges returned as Loyalty Additions
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Choose a plan option as per your needs
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Higher insurance cover along with market-linked returns
-
Most charges returned as Loyalty Additions
-
Choose a plan option as per your needs
HDFC Life Smart Protect Plan
HDFC Life Smart Protect Plan, a Unit Linked Life Insurance Plan, that addresses your long-term savings needs and also provides you protection in the form of a life cover.
FEATURES
Option to choose a cover which fits your needs and maximises your benefits with 4 options
Option to reduce your death benefit after a chosen period under Decreasing Cover and Decreasing Cover with Capital Guarantee plan options
Get minimum assured benefit on maturity under Level Cover with Capital Guarantee and Decreasing Cover with Capital Guarantee plan options
Choice of 6 fund options with unlimited free switching
Return of 2X to 3X Mortality Charge from 11th policy year
Return of 2X Premium Allocation Charge from policy year 10 to 13 years
Return of Fund Management Charge (FMC) on Maturity
Return of 2X of Investment Guarantee Charge on Maturity
Systematic Transfer Plan strategy for advantage of Rupee Cost Averaging
Premium payment options of Limited pay and Regular Pay
PLAN OPTIONS/VARIANTS
- Option A: Level Cover
- This plan option provides a level cover throughout the policy term.
- Death Benefit is payable as a lump sum if life assured dies during the policy term.
- Death benefit shall be highest of :
- Total Sum Assured less partial withdrawals* made, if any (as detailed below), where Total Sum Assured is Basic Sum Assured plus any additional Sum Assured in respect of Top-ups; or
- Fund value, or
- 105% of Total Premiums Paid
- Maturity Benefit : On survival of the Life Assured till the Maturity Date, subject to Policy being in-force on the Maturity Date, the risk cover shall cease and Fund Value at Maturity plus Loyalty Additions payable at Maturity shall be payable to the policyholder as the maturity benefit.
- Option B: Level Cover with Capital Guarantee
- This plan option provides a level cover throughout the policy term. The policyholder gets a Capital Guarantee in the form of minimum assured benefit on maturity.
- Death Benefit is payable as a lump sum if life assured dies during the policy term.
- Death Benefit shall be the highest of the following:
- Total Sum Assured less partial withdrawals* made, if any (as detailed below), where Total Sum Assured is Basic Sum Assured plus any additional Sum Assured in respect of Top-ups; or
- Fund value, or
- 105% of Total Premiums Paid
- Maturity Benefit: On survival of the Life Assured till the Maturity Date, subject to Policy being in-force on the Maturity Date, the risk cover shall cease and plus Loyalty Additions payable at Maturity Benefit shall be payable to the policyholder
- Option C: Decreasing Cover
- Under this plan option, the cover would decrease every policy year, subject to the ‘Level Cover Period’, chosen by the policyholder at policy inception.
- Death Benefit is payable as a lump sum if life assured dies during the policy term.
- Death Benefit shall be the highest of the following:
- Total Sum Assured less partial withdrawals* made, if any (as detailed below), where Total Sum Assured is Sum Assured applicable in the year of death plus any additional Sum Assured in respect of Top-ups; or
- Fund value, or
- 105% of total Premiums paid
- Maturity Benefit: On survival of the Life Assured till the Maturity Date, subject to Policy being in-force on the Maturity Date, the risk cover shall cease and Fund Value at Maturity plus Loyalty Additions payable at Maturity, shall be payable to the policyholder, as the maturity benefit.
- Option D: Decreasing Cover with Capital Guarantee
- Under this plan option, the cover would decrease every policy year, subject to the ‘Level Cover Period’, chosen by the policyholder at policy inception. This option also provides Capital Guarantee in the form of minimum Assured Benefit on maturity
- Death Benefit is payable as a lump sum if life assured dies during the policy term.
- Death Benefit shall be the highest of the following:
- Total Sum Assured less partial withdrawals* made, if any (as detailed below), where Total Sum Assured is Sum Assured applicable in the year of death plus any additional Sum Assured in respect of Top-ups; or
- Fund value, or
- 105% of total Premiums paid
- Maturity Benefit: On survival of the Life Assured till the Maturity Date, subject to Policy being in-force on the Maturity Date, the risk cover shall cease and Maturity Benefit shall be payable to the policy holder.
Policy Option:
Policy Documents
ELIGIBILITY
Disclaimer
HDFC Life Smart Protect Plan (UIN: 101L175V01) is a unit linked, non-partcipating individual life insurance product. 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. HDFC Life Insurance Company Limited is only the name of the Insurance Company, HDFC Life is only the name of the brand and HDFC Life Smart Protect Plan (UIN: 101L175V01) is only the name of the unit linked life insurance contract
FREQUENTLY ASKED QUESTIONS
Why HDFC Life Smart Protect Plan?
HDFC Life Smart Protect Plan addresses your long-term savings needs and also provides you protection in the form of a life cover.
What are the premium paying frequencies available for this plan?
Annual, half-yearly, quarterly and monthly frequencies are available under this product.
Can I decrease the policy term and the premium payment term after the policy has been issued?
No, you cannot reduce the Policy Term and the premium payment term. However, you can increase the policy term and the premium payment term subject to boundary conditions.
Can I change my premium frequency after the policy has been issued?
Yes, as the Policyholder, You can alter the Premium frequency during the Premium Payment Term.
Can Riders be opted along with the plan?
Yes, you can opt for any of the following riders:
- HDFC Life Income Benefit on Accidental Disability Rider
- HDFC Life Critical Illness Plus Rider
- HDFC Life Protect Plus Rider
Does this plan offer tax benefits?
Premium(s) paid by an individual or HUF under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961, subject to the conditions/ limits specified therein. Under Section 10 (10D) of the Income Tax Act, 19611, the benefits received from this policy are exempt from tax, subject to the conditions specified therein.
