HDFC Savings Assurance Plan
Despite your best efforts, you do not end up saving regularly for your family's and your future. Unexpected expenses, unplanned purchases and often, sheer lack of time defeat your efforts. Don't you wish that someone would take on the responsibility of regularly saving your money for you? HDFC Savings Assurance Plan is a 'With Profits' savings plan which helps you conveniently build your long-term savings and ensure that your family is protected even if you are not around.
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This product is available for sale through our Bancassurance Partners (HDFC Ltd., HDFC Bank, Saraswat Bank and Indian Bank For more details on risk factors, terms and conditions, please read the Product Brochure carefully and/or consult Financial Consultant before taking a decision.
- The chosen amount is automatically invested from your bank account into the plan
This plan is a 'With Profits' savings policy, which offers the following features
- The policy receives simple reversionary bonuses, which are usually added annually
- At maturity, the policy pays out the basic Sum Assured plus Reversionary Bonuses declared during the policy term. Interim or Terminal Bonus may also be payable, if declared
- On death during the first year, a sum equal to 80% of premiums received is payable. On death after the first year and during the policy term, all premiums paid to date will be returned with compound interest calculated at 6% per annum, subject to a maximum of the Sum Assured plus Reversionary Bonuses declared till date
- Tax benefit under Section 80C and 10(10D) of Income Tax Act 1961, subject to provisions contained therein