HDFC Life Pragati

HDFC Life Pragati

“Grow your Savings, Secure your Future”. Each one of us desires a secure future for ourselves and our loved ones and we strive hard to grow our savings in order to provide for family’s financial security. But often we also worry about various road blocks that can get in the way of achieving the same. HDFC Life understands your desire & concern and has designed a solution - HDFC Life Pragati that meets dual objectives of Savings and Protection so that you can continue providing your family with the quality of life and peace of mind.

  • Affordable premiums starting as low as Rs 1001 per month
    1. Multiple term options to suit your needs
      1. Choose to pay a lump sum single premium and get life coverage for 5 to 20 years
      2. Choose to pay premiums for 5 to 10 years and get life coverage for 10 to 20 years
    2. Hassle free issuance based on Declaration Of Good Health (DOGH)2
      1. Your policy’s value will increase as we declare bonuses
        1. Even if you miss paying your premiums, we will continue to pay full Death Benefit3 for 2 years from the date of last unpaid premium
          1. Guaranteed return of Premiums on Maturity/Death

            1 Premium shall exclude any underwriting extra premiums, any loadings for modal premiums and any taxes paid such as service tax and cess as applicable.

            2 Please speak to our Financial Consultant to know more

            3 Please refer product brochure for more details

            • MATURITY BENEFIT: On survival till the maturity date, provided all due premiums have been paid, you will receive the higher of :
              1. Sum Assured on Maturity + Accrued Reversionary bonus (if any) + Interim bonus (if any) + Terminal bonus (if any)
              2. 100 % of Total Premiums4 paid
            • DEATH BENEFIT: On death of the Life Assured during the Policy Term, provided all due premiums are paid, we will pay the higher of the following:

              • Sum Assured on Death + Accrued Reversionary Bonus (if any) + Interim Bonus (if any) + Terminal Bonus (if any)
              • 105% of Total Premiums4 paid

              The Sum Assured on Death shall be the higher of:

              • Sum Assured on Maturity5
              • 10 times Annualized Premium for entry age less than 45 years and 7 times Annualized Premium for entry age greater than or equal to 45 years for Limited and Regular pay policies OR 2 times Single Premium for Single pay policies

              On payment of the maturity or death benefit, the policy will terminate with no further benefits payable.

              For maturity/death benefit for a reduced Paid-up/lapsed policy, please refer to the Section on Paid-up & Laps below.

              1. AUTO COVER CONTINUANCE (ACC): Under this feature, for a lapsed/Paid-up policy, the full death benefit shall apply for:
                1. two years OR
                2. outstanding Policy Term

                Whichever is lower from the date of Paid-up/lapse.

                The death benefit payable during the ACC period shall be the higher of:

                • Sum Assured on Death + Accrued Reversionary Bonus (if any) + Interim Bonus (if any) + Terminal Bonus (if any)
                • 105% of Total Premiums4 paid

                Reversionary Bonus accrued till date of lapse/Paid-up shall become payable on death and no further Reversionary Bonus shall accrue to the policy.


                4Total Premiums paid shall be (Annualised Premium * number of years (or part thereof) for which premiums have been paid). Annualised Premium shall exclude any underwriting extra premiums, any loadings for modal premiums and any taxes paid such as service tax and cess as applicable.

                5Sum Assured on Maturity is the absolute amount of benefit guaranteed to be payable on maturity of the policy.

                Premium Paying Term
                • Single Pay
                • Limited Pay - 5 Years to 10 Years
                • Regular Pay - 10 Years
                Policy Term
                • Single Pay - 5 to 20 years
                • Limited Pay - 10 to 20 years
                • Regular Pay - 10 years (Fixed)
                Minimum Entry Age 8 Years
                Maximum Entry Age 55 Years
                Minimum Maturity Age 18 Years
                Maximum Maturity Age 65 Years
                Minimum Sum Assured on Maturity Rs. 5,000
                Maximum Sum Assured on Maturity
                • Single Pay – Rs 18,697
                • Limited Pay – Rs 64,869
                • Regular Pay – Rs 54,747

                 

                All ages mentioned above are age last birthday. Risk cover starts from date of commencement of policy for all lives including minors.

                You can choose to pay your premiums either annually, half yearly, quarterly or monthly or as a single lump sum. The Premium limits are as specified below:

                 

                Frequency of Premium PaymentMinimum Premium6Maximum Premium
                Single Pay Rs.5,000 Rs 15,000
                Annual Rs.900 Rs 5,500 (Annualized Premium)
                Half-Yearly Rs.450
                Quarterly Rs.225
                Monthly7 Rs.100

                 

                The minimum premium amounts are subject to the Sum Assured at Maturity being at least Rs.5, 000

                 

                6The minimum premium amounts shall exclude any underwriting extra premiums, any loadings for modal premiums and any taxes paid such as service tax and cess as applicable.

                7For Monthly premium frequency, we may collect 3 months premiums in advance on the date of commencement of policy as a prerequisite to allow monthly mode of premium payment

                Product Brochure Download

                Premium Rates Download