HDFC Life Pragati

On survival till the maturity date, provided all due premiums have been paid, you will receive the higher of:

• Sum Assured on Maturity + Accrued Reversionary bonus (if declared) + Interim bonus (if any) + Terminal bonus (if declared)
• 100% of Total Premiums¹ paid

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 Premiums¹ paid

The Sum Assured on Death shall be the higher of:

• Sum Assured on Maturity²
• 10 times Annualized Premium³ for entry age less than 45 years and 7 times Annualized Premium³ 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.

Continue to receive the full death benefit for a lapsed or paid-up policy for 2 years or 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 declared) + Interim Bonus (if any) + Terminal Bonus (if declared)
• 105% of Total Premiums¹ paid.

Reversionary Bonus (if declared) accrued till date of Lapse/Paid-up shall become payable on death and no further reversionary bonus (if declared) shall accrue to the policy. 

A Simple Reversionary bonus as a percentage of the “Sum Assured on Maturity” would be declared at the end of each financial year depending on the Premium Payment Term and the Policy Term combination chosen, and payable either on death or on maturity, whichever is earlier provided the policy is not lapsed. The Reversionary Bonus is a discretionary benefit declared and would be declared based on actual experience as well as expected future experience. 

In case of death, Surrender or Maturity during the inter-valuation period the policy will be eligible to receive the Interim Bonus based on the bonus rates declared by the company. 

A Terminal Bonus may be added to your policy at death, Surrender or Maturity which enables the company to pay a fair share of the surplus at the end, based on the actual experience over the Policy Term and allowing for the Reversionary Bonuses (if declared) already attached. As the Terminal Bonus depends on the actual experience, it is not a guaranteed benefi­t.