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RESUME APPLICATION PAY PREMIUM

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Why HDFC Life Classic One?

A Unit Linked Non Participating Life Insurance Plan with an option that offers life coverage for two individuals

  • Choose from 11 funds to maximize your investment.

  • Unlimited free switches between fund options as per your needs.

  • Choose between Single Life and Joint Life coverage variants1.

  • Enjoy Loyalty Additions from end of the 10th policy year2.

  • Get the benefit of rupee cost averaging with Systematic Transfer Plan (STP).

  • Choose from 11 funds to maximize your investment.

  • Unlimited free switches between fund options as per your needs.

  • Choose between Single Life and Joint Life coverage variants1.

  • Enjoy Loyalty Additions from end of the 10th policy year2.

  • Get the benefit of rupee cost averaging with Systematic Transfer Plan (STP).

  1. Life coverage for two individuals wherein a lump sum is paid on the second death of the two lives assured. 
  2. Provided no Partial Withdrawals have been exercised.Loyalty Additions will be allocated as extra units at the end of the 10th Policy year.
  1. Life coverage for two individuals wherein a lump sum is paid on the second death of the two lives assured. 
  2. Provided no Partial Withdrawals have been exercised.Loyalty Additions will be allocated as extra units at the end of the 10th Policy year.

Single & Joint Options

Enjoy the flexibility to choose your life coverage options

Select your policy variant and view the offered benefits

  • Single Life Variant
  • Joint Life Coverage Variant

Single Life Variant

(Complete coverage for one individual)

Heart-Icon Maturity Benefit:

  • On survival until maturity, the Fund Value will be paid.

    • calculated by multiplying balance units in your fund(s) by the then prevailing unit price(s).

  • Your policy matures at the end of Policy Term and all risk cover ceases.You can take your Fund value at maturity in periodical instalments under Systematic Withdrawal Plan.

  • Disclaimer:

    For complete details, please read the Product brochure.

Heart-Icon Death Benefit:

  • Sum Assured on death is payable as a lump sum on death of the life assured during the Policy Term.

  • Sum Assured on death is the highest of:

    • Total Sum Assured less Partial withdrawals made, if any1
    • Total Fund value where Total Fund value includes Single Premium Fund Value plus Top-up Premium Fund value
    • 105% of Total premiums paid (including Top-up premiums, if any)

  • Upon payment of Death Bene­fit, the policy shall terminate and no further bene­fits shall be payable.

  • Disclaimer:

    1. Total Sum Assured is Basic Sum Assured plus any additional Sum Assured in respect of Top-ups.

    For complete details, please read the Product brochure

Heart-Icon Loyalty Additions:

  • Loyalty Additions will be allocated as extra units at the end of the 10th Policy year provided the policy is in force and no Partial Withdrawals have been made.

  • Loyalty additions1 will be higher of:

    • Total Premium allocation charge and Policy Administration charge deducted on your policy till date 
    • 5% of Single Premium

  • Loyalty Additions will be allocated between the funds in the same proportion as the value of total units held in each fund at the time of allocation.

  • Loyalty additions once added to the fund are irreversible. The policyholder is eligible to make Partial Withdrawals in subsequent years and the already allocated loyalty additions would be a part of the fund value, which would be paid at maturity.

  • Disclaimer:

    1. The charges considered for Loyalty Additions shall exclude taxes and levies, if any

    For complete details, please read the Product brochure

Heart-Icon Partial Withdrawal:

  • You can make partial withdrawals after the first 5 policy years provided the Life Assured is at least 18 years of age and partial withdrawal amount is at least
    ₹ 10,000.

     

     

  • Disclaimer:

    For complete details, please read the Product brochure.

Talk to an Advisor

Check Eligibility Criteria

Before buying HDFC Life Classic One

ELIGIBILITY CRITERIA

 

Eligibility Criteria

For Single Life

For Joint Life

Minimum

Maximum

Minimum

Maximum

AGE AT ENTRY

(LAST BIRTHDAY)

0 years1

40 years 

18 years 

80 years2

AGE AT MATURITY

(LAST BIRTHDAY)

18 years

50 years

28 years

90 years3

SINGLE PREMIUM (SP)

₹ 25,0004

No Limit, subject to Board Approved Underwriting Policy (BAUP)5

₹ 25,0004

No Limit, subject to Board Approved Underwriting Policy (BAUP)5

POLICY TERM

10 years

50 minus Age at
Entry

10 years

90 minus Age at
Entry3

SUM  ASSURED

1.25 x
Single Premium

10 x
Single Premium

10 x Single Premium6

ELIGIBILITY FOR JOINT LIFE

The relationship between the two policyholders can be the spouse/child/parent/grandparent/co-borrower. Other relationships such as that under partnership firms may also be considered as long as there is an insurable interest7 between the two individuals. For all the mentioned relationships, the cover will be granted up to the extent of insurable interest only. Insurable interest will be established at the time of issuing policy and cover shall be issued only where need for insurance is satisfied as per underwriting norms of our Board Approved Underwriting Policy (BAUP).

  1. Risk cover starts from date of commencement of policy for all lives including minors. In case of a minor life, the policy will vest on the Life Assured on attainment of age 18 years. 
  2. Applicable for both the lives for Joint Life Coverage Variant. 
  3. Higher of two ages in case of Joint Life Coverage Variant. 
  4. The minimum Single Premium is ₹ 1,00,000 where the proceeds are from a contract issued or administered by the Company. 
  5. There is no absolute maximum single premium amount. However, premium amount shall be accepted subject to both medical and financial underwriting as per our Board Approved Underwriting Policy. 
  6. Sum assured applies to both lives in case of joint cover and is paid only on the death of both the lives. 
  7. One individual is said to have an ‘insurable interest’ in the other when one stands to gain or benefit from the continued existence and well-being of the other, and would suffer a financial loss if there is a damage to the other.

 

Customise your cover with these riders

Rider in insurance has an important part in contingency planning. A ULIP is incomplete without them.
  • icon

    HDFC Life Income Benefit on Accidental Disability Rider

    UIN: 101B013V03

    Get additional income benefits over and above your Sum Assured in the event of total permanent disability due to an accident.

    DOWNLOAD
  • icon

    HDFC Life Protect Plus Rider

    UIN: 101B016V01

    Get protected with a proportion of Rider Sum Assured in case of accidental death or partial/total disability due to accident or diagnosed with Cancer

    DOWNLOAD
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The values shown here are only for illustration. The results are generated based on the information provided. It is not intended to be and must not alone be taken as the basis for an investment decision.

Frequently Asked Questions

We’ll tell you everything you need to know about HDFC Life Classic One

1 What is HDFC Life Classic One?

HDFC Life Classic One is a Unit Linked Single Premium Life Insurance Plan that comes with a unique option of Joint Life coverage on second death basis that offers life coverage for two individuals wherein a Sum Assured of 10 times the single premium is offered on the second death of the two lives assured.

2 What is the eligibility for Joint Life coverage?

The relationship between the two policyholders can be the spouse/child/parent/grandparent or co-borrower. Other relationships such as that under partnership firms may also be considered as long as there is an insurable interest between the two individuals. For all the mentioned relationships, the cover will be granted up to the extent of insurable interest only. Insurable interest will be established at the time of issuing policy and cover shall be issued only where need for insurance is satisfied as per underwriting norms of our Board Approved Underwriting Policy (BAUP).

3 Where is the premium amount invested?

HDFC Life Classic One gives you option of 11 different funds to invest your money. Each fund has its own Investment policy, based on asset allocation between equity, debt and money market instruments. You can invest in a combination of funds by allocating your fund between different fund options. Also, you can switch between funds using fund switch option at any time without any charge.

4 Is there option for STP?

You can choose to avail Systematic Transfer Plan (STP) which gives you the benefits of rupee cost averaging. The transfer will be done in 12 equal instalments. The transfer date can be either 1st or 15th of every month as chosen by you.

5 What is the Settlement Option?

The policyholder has the option to take the maturity benefit in periodical instalments over a period, which may extend to 5 years, first instalment payable on the maturity date. 

6 Do I get any benefit on Survival?

On survival of the life/lives assured till the end of the Policy Term (maturity) you will receive your Fund Value as a lump sum

7 How is Fund Value calculated?

Fund Value will be calculated by multiplying balance units in your fund(s) by the then prevailing unit price(s).

8 What is the benefit provided to the second life on death of first life in Joint Life Coverage variant?

On first death, the fund value will be set to be higher of 125% of Single premium or balance in the unit fund. The surviving life can fully withdraw this amount and continue the policy with the coverage as per the policy provisions or not withdraw any amount and continue the policy with the coverage as per the policy provisions

9 What is the death benefit?

For Single Life Coverage Variant, Sum Assured on death is payable as a lump sum on death of the life assured during the Policy Term. For Joint life Coverage Variant, Sum Assured on death is payable as a lump sum on the second death of the two lives assured during the Policy Term.

10 Is there an option for partial withdrawal in case I am in need of funds?

The Policyholder has the option of making partial withdrawals. The Life Assured should be at least 18 years of age. The minimum Partial Withdrawal amount is ₹ 10,000 and shall not be allowed within first five policy years. The fund value after any partial withdrawal and any applicable charges (including applicable taxes and other statutory levies, if any) is not less than the 25% of the single premium and the maximum amount of partial withdrawals that can be done throughout the policy term from the basic fund value is 50% of the single premium.

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Disclaimers

In this policy, the investment risk in the investment portfolio is borne by the policyholder. The Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of fifth year.

Life Insurance Coverage is available in this product. For more details on risk factors, associated terms and conditions and exclusions please read sales brochure carefully before concluding a sale. HDFC Life Classic One (UIN:101L132V03) is a Unit Linked Non Participating Life Insurance Plan. Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. HDFC Life Insurance Company Limited is only the name of the Insurance Company, HDFC Life is only the name of the brand and HDFC Life Classic One (UIN: 101L132V03) is the name of the Unit linked product. The name of the company, name of the brand and name of the contract does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.

T&C*

  1. Subject to the company's underwriting guidelines basis the declaration in proposal form.
  2. Subject to minimum of 5% of Single Premium. Loyalty Additions will be allocated as extra units at the end of 10th Policy year to boost your Fund Value provided no Partial Withdrawals have been exercised. 

ARN: EU/07/21/24448