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ULIP plans are the most preferred financial products that can offer the benefit of both the worlds –investment and insurance. With the reformed ULIP products in the market, low-cost ULIP products have garnered more limelight. With the online availability and structural changes in the product, cost-efficient ULIP plans are now advised by many financial planners and advisers as a good investment product. HDFC being the leading private insurer with high claim settlement ratio, has introduced many low-cost ULIP products with attractive features. Let’s take a look at some of the low-cost HDFC ULIP Plans.
HDFC Life Click 2 Retire Plan
It’s a retirement plan offered on digital platform. The policy can be purchased by any person aged between 18-65 years. Age at maturity ranges from 45-75 years. This plan is available in limited pay, single pay and regular pay option. Rs.24000 is the minimum limit on annual premium. There is no upper limit on premium. Policy term can vary from 10 to 35 years.
HDFC SL ProGrowth Maximiser Plan
It’s a plan that gives both capital appreciation as well as life protection. The policy can be purchased by a person aged between 14-65 years. Maximum age at maturity is 75 years. This plan is available only in single pay option with minimum premium of Rs. 50000. There is no upper limit on premium. 10 years is the policy term. 10 times of single premium paid can be the maximum sum assured in the plan. It also allows top-ups.
HDFC SL Crest Plan
The plan comes with limited pay option of premium payment for only 5 years. The policy can be purchased by a person aged between 14-65 years. Maximum age at maturity is 65 years. Plan can start with an annual premium of INR.50000 with no upper limit. 10 years is the policy term. Sum assured can be up to maximum of 20 times of annualised premium.
Click 2 Invest HDFC Life Plan
An online plan that provides dual benefit of life cover and wealth creation. The policy can be purchased by a person aged between 0-65 years. Age at maturity ranges from 18-75 years. Policy term can vary from 5-20 years. Plan can be purchased with annual premium of Rs.12000 with no upper limit.
Is it worth to buy a life insurance cover from HDFC life?
HDFC Life is one of the leading private insurance companies in India. The company offers diverse range of life insurance products such as protection plans, savings, retirement plans, child plans and women specific plans. Here are few good reasons to buy life insurance cover from HDFC life.
What is the claim settlement ratio of HDFC life?
Claim settlement ratio is expressed in percentages (number of claims settled/total number of claims reported) for the financial year. As declared by IRDAI (Insurance Regulatory and Development Authority of India), HDFC life’s claim settlement ratio for the FY 2016-17 is 97.62%. The company has consistently maintained a trend of high claim settlement ratio over the past few years.
Why should I prefer HDFC ULIP plans?
Post the introduction of new ULIP guidelines, ULIPs have emerged as low-cost investment options. Specifically, HDFC ULIP plans have greater features and benefits along with cost advantage. Here are some simple reasons that makes HDFC ULIP plans a preferred choice.
ULIP is an insurance cum investment product. As it is market-linked plan, it allows you to invest in various funds depending on your risk appetite along with an option to switch. ULIP is also a long-term tax-saving investment plan that comes with five year lock in period. Hence, there are multiple types of charges involved to provide the benefit of both insurance and investment. Premium allocation, mortality, administration charges, fund management charges, switching charges and discontinuation charges etc. are some of the major charges involved in ULIP.
What are the various ULIP charges that are levied by an insurance company?
Below are the major ULIP charges levied by an insurance company.
What are some of the top low-cost HDFC ULIP plans that are worth buying?
Here are some of the top low-cost HDFC ULIP Plans that are also tax-efficient in every which way.
What are the features and benefits of HDFC SL Crest Plan?
Some of the best features and benefits of HDFC SL Crest plan are:
Income fund that invests majorly into liquid mutual funds to provide moderate return
Flexibility to choose the sum assured- it can vary from 10 to 20 times of annualised premium.
What are the features and benefits of Click 2 Invest HDFC Life Plan?
Some of the best features and benefits of Click 2 Invest HDFC Life Plan are:
What are the features and benefits of HDFC Life Click 2 Retire Plan?
Some of the best features and benefits of HDFC Life Click 2 Retire Plan are:
What are the features and benefits of HDFC SL ProGrowth Maximiser Plan?
Some of the best features and benefits of HDFC SL ProGrowth Maximiser Plan are: