• Investment
  • Term Life

HDFC ULIP ProGrowth Flexi Plan

HDFC ULIP Pro Growth Flexi Plan is a Unit Linked Insurance Plan offered by HDFC Life. HDFC Life is India’s leading insurance solutions provider.

Note: All information has been sourced from the official website of HDFC Life.

HDFC SL ProGrowth Flexi Plan

This is an online unit linked, savings oriented insurance plan which offers life insurance coverage so that your loved ones’ financial future is secured, even in your absence.

Features of HDFC SL ProGrowth Flexi Plan

The features of this plan are:

  • Flexibility to choose from two Benefit Options
    • Life Option = Death Benefit
    • Extra Life Option = Death Benefit + Accidental Death Benefit.
  • Option to select a range of funds - Income Fund, Balanced Fund, Bluechip Fund, Opportunities Fund, Equity Plus Fund, Bond Fund, Diversified Equity Fund, and Conservative Fund.
  • Option to select sum assured in multiples from 10 to 40 of the annual premium.

Benefits of HDFC SL ProGrowth Flexi Plan

The benefits of this plan are:

Death Benefit

DeathSummary of Death Benefit
Before attainment of age 60 years
Highest of the following
Sum Assured (less all withdrawals made during the two-year period immediately preceding the date of death) OR the total fund value OR Minimum death benefit of 105% of the premiums paid.
On or after attainment of age 60 years
Highest of the following
Sum Assured (less all withdrawals made after attainment of age 58) OR the total fund value OR Minimum death benefit of 105% of the premiums paid

Accidental Death Benefit - Under this option, an additional Sum Assured will be paid to your family in case of death of the policyholder.

Maturity/Settlement Option

Under this option, you can take your fund value in periodical instalments over a period which may extend up to 5 years. You can choose to receive the payments in the form of annual, half-yearly, quarterly or monthly installments spread over a period of upto 5 years from the date of maturity.

Partial Withdrawal

You can make lump sum partial withdrawals from your funds after 5 years.


You can move your accumulated funds from one fund to another anytime.

Premium Redirection

You can pay your future premiums into a different selection of funds, as per your need. Tax benefits under Sections 80C and 10(10D) of the Income Tax Act 1961 are applicable.

Eligibility Criteria

The eligibility criteria for this plan is:

Benefit OptionsAge at EntryAge at EntryMaximum Age at Maturity
Life Option146575
Extra Life Option185570

Product Specification

Sum AssuredPolicy Term
Sum AssuredPolicy Term (Years) Premium Payment Term (Years)
Age less than 45 yearAge equal to 45 years and above
Higher of 10 x annualised premium or 0.5 x policy term x annualised premiumHigher of 7x annualised premium or 0.25 x policy term x annualised premium1010
Max: 40 x annualised premiumMax: 40 x annualised premium3030

Premium Details

MinAnnualHalf - YearlyMonthly
MaxNo limit

Why you should buy SL ProGrowth Flexi Plan from HDFC Life?

HDFC Life SL ProGrowth Flexi Plan is an excellent investment option. It is advisable to stay prepared against the uncertainties of life andlife insurancesolutions enable you to build your savings and enjoy life cover. With HDFC SL ProGrowth Flexi Plan, you have a smart savings-cum-insurance plan that will enable you to simply provide the finest for your loved ones.

Documents Required to buy SL ProGrowth Flexi Plan from HDFC Life?

The documents required for this plan are:

  • Application/Proposal form
  • KYC Details - Proof of ID and Address
  • Proof of Age
  • Proof of Income - Bank Account Statement
  • SIP/Auto Debit/SI Mandate Form
  • Medical check-up/report if required


Suicide - In case of death due to suicide within 12 months from the date of inception of the policy or from the date of the revival of the policy, the nominee or beneficiary of the policyholder shall be entitled to the fund value, as available on the date of death. Accidental Death Benefit will not be paid in case of the following:

  • Intentionally self-inflicted injury or suicide, irrespective of mental conditions
  • Alcohol or solvent abuse, or the taking of drugs except under the direction of a registered medical practitioner
  • War, invasion, hostilities (whether war is declared or not), civil war, rebellion, revolution or taking part in a riot or civil commotion
  • Taking part in any flying activity, other than as a passenger in a commercially licensed aircraft
  • Taking part in any act of a criminal nature

FAQs on HDFC Life SL Progrowth Flexi

Can charges under the HDFC Life SL ProGrowth Flexi plan be altered?

No, the Fund Management Charge & Discontinuance Charge will be subject to the maximum cap as allowed by IRDAI and the Policy Administration Charge and Mortality Charge Rates are guaranteed for the entire duration of the policy term.

Is Service Tax applicable for the policy?

Yes, GST is applicable on the premium of the policy.

Can I avail loans on the policy?

No, loans are not allowed on the policy.

I have identified a premium that I can comfortably pay during the initial days of the premium payment term. Can this amount be altered later on?

No, increase or decrease of policy term, sum assured and premiums are not allowed.

Can I assign the policy to another individual?

Yes, this policy may be transferred/assigned, wholly or in part, with or without consideration.

What can be done if my request for policy assignment has been rejected by the insurance company?

You can check the reason for rejection and reapply for the same after rectifying the error.

What are non-negative claw-back additions?

Insurance companies have to add equivalent number of units to policyholder’s fund value to bring down the calculated reduction in yield to 3% or less in that year. This addition of unit to maintain the reduction in yield up to a definite level is called Non-negative claw-back Additions.