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A Non-Participating, Individual Life Unit Linked Insurance Plan
Choose from 4 Plan Options as per your needs
Boost your fund value with 4 kinds of Loyalty Additions (Return of 2X to 3X Mortality Charge, Return of 2X Premium Allocation Charge, Return of Fund Management Charge, Return of 2X of Investment Guarantee Charge)
Get a Minimum Assured Benefit1 in the form of capital guarantee in spite of market fluctuations
Choose from 5 funds2 to optimize your investment returns
Flexibility to choose the premium payment option- Regular or Limited (5 to 12 years)
Reduce your Death Benefit Cover after a chosen period under Decreasing Cover and Decreasing Cover with Capital Guarantee plan options
Choose from 4 Plan Options as per your needs
Boost your fund value with 4 kinds of Loyalty Additions (Return of 2X to 3X Mortality Charge, Return of 2X Premium Allocation Charge, Return of Fund Management Charge, Return of 2X of Investment Guarantee Charge)
Get a Minimum Assured Benefit1 in the form of capital guarantee in spite of market fluctuations
Choose from 5 funds2 to optimize your investment returns
Flexibility to choose the premium payment option- Regular or Limited (5 to 12 years)
Reduce your Death Benefit Cover after a chosen period under Decreasing Cover and Decreasing Cover with Capital Guarantee plan options
1- Available under Level Cover with Capital Guarantee and Decreasing Cover with Capital Guarantee plan options
2- With unlimited free switching. Available under Level Cover and Decreasing Cover
1- Available under Level Cover with Capital Guarantee and Decreasing Cover with Capital Guarantee plan options
2- With unlimited free switching. Available under Level Cover and Decreasing Cover
You have the flexibility to choose your plan options.
This plan option provides a level cover throughout the policy term
Death Benefit:
“Death Benefit” is payable as a lump sum if life assured dies during the policy term.
Subject to Policy being in force and all due premiums have been paid, the Death Benefit payable to the Policyholder/ Assignee/ Nominee shall be the highest of the following:
(i) Total Sum Assured less partial withdrawals1 made, if any (as detailed below), where Total Sum Assured is Basic Sum Assured plus any additional Sum Assured in respect of Top-ups; or
(ii) Fund value, or
(iii) 105% of Total Premiums Paid
For a reduced paid-up Policy, the Death Benefit payable to the Policyholder/ Assignee/ Nominee and shall be the highest of the following:
(i) Paid up Sum Assured plus any additional Sum Assured in respect of Top-ups less partial withdrawals1 made, if any (as detailed below); or
(ii) Fund value; or
(iii) 105% of Total Premiums Paid
1 The partial withdrawals to be deducted from the Total Sum Assured shall be all partial withdrawals (except from the top-up fund value) made during the two-year period immediately preceding the date of death.
Upon this payment, the policy shall terminate and no further benefit shall be payable.
Where,
a) Annualized Premium means the premium amount payable in a year excluding the taxes, rider premiums and underwriting extra premium on riders, if any.
b) Basic Sum Assured is the amount of cover chosen by the policyholder at inception of the policy in accordance with terms and conditions of the Policy.
c) Fund Value is the value obtained by multiplying the number of Units allocated to your Policy by the corresponding price of the Units.
d) Total Premiums Paid are the total of all the premiums received, excluding any rider premium and taxes.
e) Paid-Up Sum Assured, is the original sum assured multiplied by the total number of premiums paid to the original number of premiums payable as per the terms and conditions of the policy. (Paid Up Sum Assured = Original Sum Assured x Total No. of Premiums Paid / Original No. of Premiums Payable).
f) Minimum Basic Sum Assured, is 10 times the Annualized Premium
g) Assured Benefit is the Total Premiums Paid less Total Partial Withdrawals made (if any)
Maturity Benefit:
On survival of the Life Assured till the Maturity Date, subject to Policy being in-force on the Maturity Date, the risk cover shall cease and Fund Value at Maturity plus Loyalty Additions payable at Maturity shall be payable to the Policyholder as the maturity benefit.
Upon this payment, the policy shall terminate and no further benefits will be payable.
You can also take your fund value at maturity in periodical installments under settlement option. Please refer Settlement Option section below for more details.
Before buying HDFC Life Smart Protect Plan
Parameters |
Minimum |
Maximum |
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Age1 at Entry |
Life Assured: 0 years (30 days)
|
Life Assured: 60 years
|
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Age1 at Maturity |
25 years |
100 years |
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Premium Payment Term |
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Policy Term2 |
25 years |
40 years |
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Instalment Premium |
Top-Up Premium: Rs. 5,000 per Top-Up3 |
As per Board Approved Underwriting Policy (BAUP) |
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Sum Assured |
Basic Sum Assured
For Top-Up Premium: 1.25 times the Top Up premium |
As per Board Approved Underwriting Policy (BAUP) |
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Premium Payment Frequency |
Annual, Half-Yearly, Quarterly, Monthly |
1-All ages are expressed as on last birthday.
2-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. In all cases, the relationship between the proposer and life assured shall be granted to the extent of insurable interest only.
3- Total top-up premiums paid, at any point of time during the policy term shall not exceed the sum total of the premiums paid at that point of time.
UIN: 101B013V03
Get additional income benefits over and above your Sum Assured in the event of total permanent disability due to an accident.
DOWNLOADUIN: 101B014V02
We pay a lump sum amount equal to the Sum Assured upfront if diagnosed with of any of the specified critical illnesses
DOWNLOADUIN: 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
DOWNLOADNot sure which insurance to buy?
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We’ll tell you everything you need to know about HDFC Life Smart Protect Plan
HDFC Life Smart Protect Plan addresses your long-term savings needs and also provides you protection in the form of a life cover.
Annual, half-yearly, quarterly and monthly frequencies are available under this product.
No, you cannot reduce the policy term and the premium payment term. However, you can increase the policy term and the premium payment term subject to boundary conditions.
Yes, as the Policyholder, You can alter the Premium frequency during the Premium Payment Term.
To know detailed information related to exclusions, read Product Brochure.
Yes, you can opt for any of the following riders:
Premium(s) paid by an individual or HUF under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961, subject to the conditions/ limits specified therein. Under Section 10 (10D) of the Income Tax Act, 19611, the benefits received from this policy are exempt from tax, subject to the conditions specified therein.
ARN - PP/05/23/1799