HDFC Life Progrowth Plan is a Unity Linked Insurance plan that offers the dual benefit of life insurance coverage along with an option to invest in different funds like equity, debt, share, etc. The plan does not inculcate any bonus facility as it is a non-traditional insurance plan. Under this plan the insured needs to pay the premium till the end of the policy tenure.
The insured can chose from the 5 fund option offered by the policy for investment. HDFC Pro-growth plus is known as one of the most sought after investment options as the plan offers you great saving option in order to secure your future. HDFC Life Progrowth Plus is offered in two variants
HDFC progrowth Plus is not a fixed deposit plan. To help you know more about the plan, here we have discussed the features and benefits offered by the plan. Some of the Salient Features of the Policy are:-
Benefits offered by HDFC Life Progrowth Plus Death Benefit- In case of unfortunate death of the policy holder the beneficiary of the policy receives death benefit as higher of sum assured or fund value and the tenure of the policy comes to an end. Maturity Benefit- If the insured survives the entire tenure of the policy then the fund value is paid as maturity benefit to the policy holder. Income Tax Benefit- Under section 80C of Income Tax Act the premium paid up to Rs1,00,000 are allowed for tax deduction and the maturity proceeds are tax free under section 10D of Income Tax act. Add-on Benefit- However the plan does not offer any add on benefit as rider but the extra life option has inbuilt accidental death benefit rider. HDFC Porgrowth plus offers a free loom period of 15 days under which the insured can cancel the policy if he/she is not satisfied with the terms and conditions of the plan. Moreover, the plan also provides a grace period of 30 days under which the insured can pay the due premium if he or she fails to pay premium on time. If you want to make investment along with saving, then HDFC Progrowth plan is the most beneficial plan that you can opt for.
0 Comments
Leave a Reply. |
Archives
December 2016
Categories |