Someone has rightly said, “Uncertainty is the essence of life.” Life is full of uncertainties, ups and downs, highs and lows! And that’s why it makes sense to plan well ahead in time to take care of all adversaries that future may have in store for us. This is where life insurance products provide you an optimal solution. Life insurance not only helps you ensure huge savings, it also helps you make arrangements to take care of your loved ones, even when you are not around. HDFC Life Insurance Company is one that seems to understand the uncertainties of life pretty well. Quite expectedly, they offer a wide range of life insurance products to help their consumers get comprehensive life cover, complete financial protection and total peace of mind. When talking about life insurance products from HDFC Life Insurance Company, it is difficult not to talk about HDFC Life ProGrowth Plus Plan. It is one of the bestselling plans launched by HDFC Life Insurance Company and consistently ranks alongside some of the best life insurance products in the Indian Insurance market. HDFC Life ProGrowth Plus– An Introduction HDFC Life Pro Growth Plus Plan is one of the bestselling Unit Linked Insurance Plans (ULIP) available in the Indian insurance market, today. It’s a non-traditional insurance plan that doesn’t offer any vested bonuses. This amazing plan from HDFC Life Insurance Company makes it easy for you to create your own investment strategies and enjoy a comprehensive life cover. This plan provides its policy holders with the flexibility to choose from different fund options and opt for their own Sum Assured as per their requirements. HDFC Life ProGrowth Plus – Key Features
HDFC Life ProGrowth Plus– Key Benefits This amazing plan from HDFC Life Insurance Company offers a wide range of benefits to the policy holders. Some of the most prominent benefits are listed below:
With so much on offer for policy holders, this amazing life insurance plan from HDFC Life Insurance Company makes for a great investment for anyone. The flexibility to opt for 5 different fund options makes it easy for policy holders to make strategic investment of their funds depending upon their risk appetite. The generous death benefits, choice to choose between two different versions of the same plan and the rewarding maturity proceeds make this plan a must buy for anyone looking to invest money in a savings cum insurance plan.
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Nowadays it has become very necessary to save money in different types of methods in order to protect future emergencies. No one knows when medical necessities appear or when the death does take place. So it becomes quite important to safeguard the income you have in every possible way.
In current scenario LIC endowment plan is gaining a huge popularity. Service class people are looking forward to buy this policy on the advice of the agents and the experts online. Before you proceed and buy the policy without grabbing it’s know how it is essential to know what is an endowment plan and how it works? An endowment plan is a type of a policy in which life insurance contract is designed to pay a whole sum after a specific term known as maturity or after the death. The minimum tenure for maturity period is 10 years and maximum is 25 years. In case of critical illness, some lic life insurance plans are paid to the insured person. There are two types of lic endowment plans-
The reason behind availing the lic endowment plan is to get the cash benefits early. In this case the holder receives the surrender amount which was considered by the insurance firm, depending upon the policy period duration. The new lic endowment plan This is a participating non linked policy in which the holder will be offered with a lucrative combination of saving feature and the protection. The family members of the deceased will get the financial support before the maturity time is lapsed and a good assured sum will be payable at the time of maturity if the policy holder survives. However, lic endowment plan is known for taking care of the liquidity or cash needs by giving loan facility to the holder. What are the advantages? LIC life insurance offers the endowment plan in which the person will receive various advantages; some of them are listed below- 1.Death benefit All the sum assured on death, final additional bonus and simple reversionary bonus will be payable in case the death of the policy holder occurs before the maturity of the policy period and the condition is that all premium installments should be paid or must be paid to enjoy the above stated benefit. At the time of death premium is calculated for the sum assured payment. In the documents it is written that basic sum assured or 10 times annual premium will be given to the nominee after death. However, premiums exclude the extra premium, rider premium and service tax if any of them applied. 2. Maturity benefits Basic sum assured including the simple diversionary bonuses and final additional bonus will be payable on the survival of the policy holder when the policy gets matured. Only the amount said in the documents for the death assured sum is not given at the time of the maturity to the survived policy holder. 3. Optional benefits There is an advantage called as LIC accidental death and disability benefit rider- it is available as an option for the policyholder in which additional premium is paid as an optional rider. In case the policy holder meets an accident and leads to death then the accident benefit sum assured will be paid as a whole sum along with the demise benefits under the stated basic lic endowment plan. 4. Tax redemption In every LIC life insurance plan you will find the best tax redemption option. You can get the income tax rebate on the purchase of the lic endowment plan. The premium which you have paid each year will not be included in the income tax slab as well as the sum assured and the maturity benefit amount will not be considered under the tax. |
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