5 Best HDFC Life Insurance Plans in India Year 2018

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In today’s day and age, having a life insurance policy is very essential as it is the simplest and the safest way to secure your family financially against any types of eventuality.  As life insurance policy is must have for every individual, there many insurance providers that offered an exclusive range of life insurance policies to meet the needs of the insurance seekers.

Among the top insurance providers in India, HDFC Life Insurance Company is known as one of the best life insurance providers. The company offers a customer-centric approach and provides one-stop solution for all the insurance needs of the policy buyers. With a wide range of comprehensive insurance plans, the insurance buyers can choose to purchase any plan ranging from protection, investment, retirement, child, etc. according to their own choice and requirement. To help you know more about HDFC standard Life Insurance, here we have briefly discussed 5 best HDFC Life Insurance Plans in India to invest in year 2017-2018.

5 Best HDFC Life Insurance Plans

Plans Entry Age Maturity Age Policy Term Sum Assured
HDFC Life Click 2 Protect  plus Minimum-18 years

Maximum-65 years

75 years 10-40 years Minimum-Rs.25,00,000

Maximum– No upper Limit

HDFC Life Click to Invest-ULIP Minimum-0 years

Maximum-65 years

75 years 5-20 years For entry age below or equal to 55 years = 10Xannula premium

 

For Entry age above or equal to 55 years= 7X annual premium

HDFC Life ProGrowth Plus Minimum-14 years

Maximum-65 years

75 years 10-30 years Less than 45 years- higher of 10Xannula premium  or 0.5X Policy term X annual premium

Above or equal to 45 years- higher of 7Xannula premium or 0.25X policy term X annual premium

Maximum-  

40X annual premium

HDFC Life Click 2 Retire Minimum-18 years

Maximum-65 years

Vesting Age 10,15 and 35 years —-
Minimum-45 years

Maximum-75 years

HDFC Life Smart Women Plan Minimum-18 years

Maximum-45 years

60 years 10-15 years Minimum-10Xannula premium

Maximum-40Xannual premium

HDFC Life Insurance Click 2 Protect Plus

HDFC Life Click 2 Protect Plus is a pure term insurance plan which provides comprehensive life coverage to the family of the insured at a very affordable premium rate. The policyholder can choose from the wide range of cover options offered by policy according to their own requirement and suitability. The plan provides financial security to the family of the insured in case of any eventuality. Let’s take a look at some of the salient features of the HDFC Life insurance Click 2 Protect Plus Plan.

Best Features of HDFC Life Click 2 Protect Plus Plan

  • The plan provides 4 cover options to choose from.
  • Life Option
  • Extra Life Option
  • Income Option
  • Income Plus Option
  • The plan provides three option of premium payment i.e. Regular pay, single pay, and limited pay.
  • Under the option of income plus and income option, the plan provides monthly income to the beneficiary of the plan in the event of the demise of the insured.
  • Under life cover option the plan increases the insurance cover at the major milestones of life.
  • The tenure of the policy ranges from 10-40 years
  • The policyholder can gain tax benefit on the premium amount and claim received under section 80C and 10(10D) of Income Tax Act 1961.
  • The plan provides additional rider benefit as accidental disability and critical illness benefit.
  • The premium of the policy can be paid in yearly, quarterly, half-yearly and monthly mode.

HDFC Life Insurance Click 2 Invest

HDFC Life Click 2 Invest is an online investment plan that comes with zero policy administration charge and allocation charge. As a unit linked insurance plan (ULIP) HDFC Life Click 2 Invest offers the combined benefit of wealth creation and life protection under the same plan. The plan not only helps the insured to create financial corpus but also provide a profitable return on investment. Let’s take a look at the features of HDFC Life Click 2 invest.

Best Features of HDFC Life Click 2 Invest

  • This is a ULIP plan that comes with the option of single pay, limited pay and regular pay.
  • The plan offers the option of 8 funds to choose from.
  • Equity Plus Fund
  • Blue Chip Fund
  • Diversified Equity Fund
  • Balanced Fund
  • Bond Fund
  • Opportunities Fund
  • Income Fund
  • Conservative Fund
  • On policy maturity, the insured receives the total fund value of the policy.
  • The policyholder is eligible for tax exemption on the premium paid under section 80C and claim made under section 10(10D) of Income Tax Act 1961.
  • Through the settlement option, the policyholder can avail the maturity proceeds in equal installments on the maturity of the policy over the period of 5 years.

HDFC Life Insurance ProGrowth Plus

HDFC Life ProGrowth Plus is yet another investment plan offered by HDFC Standard Life Insurance Company. This is a unit linked insurance plan (ULIP) that provides a market-linked return by investing half of the premium in market funds like debt, equity, and equity-related securities. Moreover, along with the investment option, the other half of the premium is used to provide insurance coverage to the family of the insured.  Let’s take a look at some of the key features of HDFC Life ProGrowth Plus.

Best Features of HDFC Life ProGrowth Plus

As a unit-linked insurance plan, the plan provides the option of regular premium payment.

  • The plan provides the policyholder to choose from the option of 2 coverage i.e. extra life option and life option.
  • The policyholder has the benefit to choose from 4 fund options offered by the policy.
  • Opportunities fund
  • Blue Chip fund
  • Income Fund
  • Balanced Fun
  • Under HDFC Life ProGrowth plus, the policyholder will receive the total fund value in case of maturity of the policy.
  • Under extra life cover option, the plan provides additional rider benefit as an accidental death benefit.
  • The policyholder can avail tax exemption on the maturity claim and premium paid under section 10(10D) and 80 C of Income Tax Act 1961.
  • Through the settlement option, the policyholder can avail the maturity proceeds in equal installments on the maturity of the policy over the period of 5 years.

HDFC Life Click 2 Retire

HDFC Life Click 2 Retire plan is a unit linked insurance plan that can be bought online. The plan offers profitable investment return in a long run and helps the policyholder to create a financial cushion so that they can live the golden days of retirement in a stress-free way. Let’s take a look at the key features of HDFC Life Click 2 Retire.

Best Features of HDFC Life Click 2 Retire

  • This is an online pension plan
  • One can purchase the plan as early as 18 years
  • The policy offers a lower maturity/vesting age of 45 years
  • The policy provides the option of single, regular and limited premium payment.
  • The policy secures the retirement age of the policyholder by providing guaranteed vesting benefit and gains from the market return.
  • The policyholder is eligible to gain tax benefit under section 10(10D) and 80C of Income Tax Act.
  • The policy offers regular income to the insured after their retirement.

HDFC Life Smart Women Plan

HDFC Life Smart Women Plan is specifically designed to fulfill the aspiration and dreams of women. As a unit-linked insurance plan, the HDFC Life Smart Women plan not only helps to create wealth for the future but also provides them life coverage against complications related to pregnancy and other problems related to it. Let’s take a look at the key features of HDFC Life Smart Women Plan.

Best Features of HDFC Life Smart Women Plan

The plan is specifically designed for women.
The plan offers the policyholder to choose from 4 different fund options i.e.

(i)Balanced Fund
(ii) Income Fund
(iii)Opportunities Fund
(iv)Blue Chip Fund

The minimum sum assured offered by the policy is 10 time the annual premium and the maximum sum assured offered by the policy is 40 times the annual premium.

  • The Tenure of the policy ranges from 10-15 years.
  • The plan offered the flexibility to choose from the 3 different benefit options.
  • In case of demise of a spouse
  • In case of diagnosis of malignant cancer particularly for female organs.
  • In case of any complication related to pregnancy or any genetic disorder due to childbirth.

Conclusion

So, these are the best Life Insurance plans of HDFC to invest in the year 2017-2018. However, before zeroing in on any plan it is very important to compare the plans online and choose the plan that best suits your requirements.

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