Big plans get even bigger with minimal charges

Big Plans Get Even Bigger With Minimal Charges-Free PDF

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Planning for future is one of the most important aspects of your life May it be planning for your child s future financially securing your. post retirement years or simply accumulating corpus for a rainy day You seek an opportunity that ensures your money works for you and. at the same time helps you safeguard the wealth created so that your desired goals are met in case you are not around A Life Insurance. plan offers financial protection against such unforeseen events. We understand this and therefore are glad to offer HDFC Life Click 2 Wealth a Unit Linked Life Insurance Plan that offers market linked. returns and provides life protection for you and your family. KEY FEATURES OF HDFC LIFE CLICK 2 WEALTH, n Charges Only Fund Management charge towards managing your funds and Mortality charge towards your life cover. n Special Addition Get 1 of Annualised premium as special additions to your Fund Value for first 5 years1. n Return of Mortality Charges ROMC on Maturity In case of Premium Waiver option Mortality charges pertaining to only the Life. Assured would be refunded ROMC will not be available for the policies where the Waiver of premium benefit is triggered due to the. death of the Proposer,n Three plan options to maximize the benefits. Invest Plus Option for Insurance cum Investment, Premium Waiver Option to protect milestones for dependents. Golden Years Benefit Option for retirement planning with whole life cover. n Premium waiver benefit that protects the future of your loved one in your absence. n Choice of 10 fund options with unlimited free switching. n Systematic Transfer plan strategy for advantage of Rupee Cost Averaging. n Premium payment options of Single Pay Limited pay and Regular Pay. HOW WILL THIS PLAN WORK, A Check your Eligibility and Choose your Premium amount Premium Paying Term and Policy Term. Parameters Invest Plus Premium Waiver Option Golden Years Benefit Option. Age at Entry Life Assured 0 years 30 days Life Assured. Life Assured,0 years 30 days to 60 years 0 years 30 days.
to 60 years Proposer 18 years to 65 years to 60 years. Age at Maturity 18 years to 75 years 18 years to 75 years 99 years. Single 24 000,Annual 12 000,Minimum Premiums Half yearly 6 000. Quarterly 3 000,Monthly 1 000, Maximum Premiums No Limit subject to Board Approved Underwriting Policy BAUP. Policy Term 10 to 40 years 99 minus Age at Entry,Single Pay. Limited 5 7 and 10 years Limited Pay 10 to 70 minus. Premium Payment Term Limited 5 7 and 10 years,Regular 10 to 40 years Age at Entry. Regular 10 to 40 years, If the policyholder opts for the monthly premium frequency we may collect three months premiums in advance on the date of.
commencement of policy as a prerequisite to allow monthly mode of premium payment. 1 For Single premium the special addition is 1 of the Single premium at inception only. B Choose your Sum Assured,Boundary Conditions,Parameters. Minimum Maximum,Single Pay2 1 25 x Single Premium,Maximum Sum Assured shall. Sum Assured Regular Limited Pay 10 x Annualized Premium be as per Board Approved. Underwriting Policy BAUP,Top up 1 25 x Top up Premium. All ages are of last birthday, Risk cover shall start from date of commencement of the 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 Under Waiver of Premium option on death of the Proposer the policy will vest on the Life. Maximum entry age and Sum Assured combination shall be such that the maturity benefit calculated at 4 interest rate is at least 90. of the Total Premiums paid, 2 Not Applicable for Premium Waiver option and Golden Years Benefit option.
C Choose your Plan Option, This plan offers 3 Plan options that you can choose from depending on your Protection and Investment needs. 1 Invest Plus Option An option that provides life cover and takes care of your Investment needs by providing accumulated Fund. Value at Maturity, 2 Premium Waiver Option An option that takes care of all your financial responsibilities in your absence In case of your Proposer s. unfortunate death all future premiums shall be waived to make sure that your fund does not stop growing Thus we make sure that. we continue to build the corpus on your behalf for the dreams you have for your loved ones The Policy continues with risk cover for. Life Assured and the accumulated Fund Value is paid on Maturity On death of the Policyholder the Life Assured will become the. Policyholder In case the Life assured is a minor then on attaining age 18 years the Life assured automatically becomes the. Policyholder and the erstwhile Policyholder Proposer continues to be the premium Payor under the Policy. 3 Golden Years Benefit Option The right blend of Retirement planning for you is to not only build a corpus for your golden years but. also make sure you leave a legacy behind for your loved ones This plan option offers you the solution to build your fund value while. also having life cover for whole of life till 99 years of age You can opt for systematic withdrawal facility to generate recurring post. retirement income from your accumulated fund, Option once chosen cannot be altered throughout the policy term Charges will vary as per the Plan option chosen. Choose how you want to manage your Investment Portfolio. You have a choice of 10 different funds that helps you manage your money as per your risk appetite You can also opt for Systematic. Transfer Plan STP which gives you the benefits of rupee cost averaging. For more details please refer to the Investment Strategy section. Sample Illustration, Plan Option Invest Plus Premium Waiver Golden Years. Age at Entry in years 35 35 Life Assured 40 Proposer 35. Annual Premium INR 50 000 50 000 50 000,Sum Assured INR 5 00 000 5 00 000 8 75 000.
Policy Term years 20 20 64,Premium Payment Term years 20 20 35. Maturity value at an Assumed, Investment return 8 p a 21 90 010 21 23 700 5 18 47 753. Maturity value at an Assumed,13 88 581 13 43 799 73 84 712. Investment return 4 p a, These assumed rates of returns are not guaranteed and they are not the upper or lower limits of what you might get back as the value of the policy is dependent on a number. of factors including future investment performance. A This snapshot of illustration is only for HDFC Life Click 2 Wealth for a healthy male life with 100 of premium invested in the Liquid Plus Segregated Fund. B The values shown are for illustrative purpose only C Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your. insurer carrying on life insurance business If your policy offers guaranteed benefits then these will be clearly marked Guaranteed in the illustration table If your policy. offers variable benefits then the illustrations page will show two different rates of assumed future investment returns These assumed rates of returns are not guaranteed and. they are not the upper or lower limits of what you might get back as the value of the policy is dependent on a number of factors including future investment performance. Request you to refer the Benefit Illustration separately to understand the benefits applicable. UNDERSTANDING YOUR BENEFITS, A Maturity Benefit Benefits payable at the end of your policy term.
At maturity you will receive your Fund Value Fund Value will be calculated by multiplying balance units in your fund by the then. prevailing unit price Your policy matures at the end of policy term you have chosen All your risk cover ceases at the end of policy. You can also take your fund value at maturity in periodical instalments under settlement option Please refer Terms and Conditions. section for more details, B Death Benefit Benefits payable in case of unfortunate death. On a valid death claim for an in force policy where all due premiums have been paid the death benefit shall be. On Death of Life Assured Highest of, Total Sum Assured less an amount of Partial withdrawals made if any where Total Sum Assured is Basic Sum Assured plus. any additional Sum Assured in respect of Top ups,Fund Value. 105 of Total Premiums paid, 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. Upon payment of the death benefit the Policy shall terminate and no further benefits are payable. On Death of Proposer Applicable for Premium Waiver Option ONLY where Proposer is different from Life Assured. On a valid death claim of the Proposer for a premium paying policy All future premiums are waived On each future premium due. date s an amount equal to the modal premium shall be credited to your Fund Value. The Policy shall continue until maturity with risk benefits continued on the life of the Life Assured Upon maturity the maturity. benefit shall become payable,C Fund Boosters,1 Return of Mortality Charges ROMC.
At maturity date the total amount of mortality charges3 deducted in respect of the insurance cover of Life Assured. throughout the policy including mortality charge deducted on top up Sum Assured as applicable will be added to the fund. For Golden Years Benefit Option which has a whole of life policy term the total cumulative amount of mortality charges. deducted will be added to the fund value at the end of policy year coinciding or immediately following 70th birthday of Life. This benefit will not be applicable in case of a surrendered discontinued or Paid up policy and will be added provided all due. premiums have been paid, ROMC will not be available for the policies where the Waiver of premium benefit is triggered due to death of the Proposer. 2 Special Addition, For Regular and Limited Pay Policies 1 of your Annualised premium shall be added to the Fund Value at the time of allocation. of premium for first 5 policy years, For Single Pay Policies 1 of your Single premium shall be added at the time of allocation of single premium. Special Addition will be available under all the 3 Plan options viz Invest Plus Premium Waiver Option and Golden Years Benefit. 3 Excluding extra mortality charge mortality charge on account of waiver of premium for Proposer taxes levied on mortality charge as applicable. D Top Up Premiums, The Policyholder has the option of paying Top up premiums subject to the following conditions. Top up premiums are not permitted during the last 5 years of the contract. Total Top up Premiums cannot exceed sum total of the regular limited premiums paid till that point of time or initial single. premium paid as applicable, Top Up Premium will carry a Sum Assured of 125 of the amount of Top Up Premium.
NON FORFEITURE BENEFITS, A Discontinuance of Policy due to Non Payment of Premiums. Under this plan you get a grace period from your premium due date to pay your premiums This plan has a grace period of 15 days for. monthly mode and 30 days for other modes During the grace period the policy is considered to be in force with the risk cover. without any interruption, The product shall have a lock in period of five years from the date of inception of the policy. Discontinuance of the policy during lock in period. a For other than single premium policies upon expiry of the grace period in case of discontinuance of policy due to. non payment of premium the fund value after deducting the applicable discontinuance charges shall be credited to the. discontinued policy fund and the risk cover and rider cover if any shall cease. b Such discontinuance charges shall not exceed the charges stipulated in Charges section of this document All such. discontinued policies shall be provided a revival period of three years from date of first unpaid premium On such. discontinuance the company will communicate the status of the policy within three months of the first unpaid premium to. the policyholder and provide the option to revive the policy within the revival period of three years. i In case the policyholder opts to revive but does not revive the policy during the revival period the proceeds of the. discontinued policy fund shall be paid to the policyholder at the end of the revival period or lock in period whichever is later. In respect of revival period ending after lock in period the policy will remain in discontinuance fund till the end of revival. period The Fund management charges of discontinued fund will be applicable during this period and no other charges will. be applied, ii In case the policyholder does not exercise the option as set out above the policy shall continue without any risk cover and. rider cover if any and the policy fund shall remain invested in the discontinuance fund At the end of the lock in period the. proceeds of the discontinuance fund shall be paid to the policyholder and the policy shall terminate. iii However the policyholder has an option to surrender the policy anytime and proceeds of the discontinued policy shall be. payable at the end of lock in period or date of surrender whichever is later. c In case of Single premium policies the policyholder has an option to surrender any time during the lock in period Upon. receipt of request for surrender the fund value after deducting the applicable discontinuance charges shall be credited to. the discontinued policy fund, i Such discontinuance charges shall not exceed the charges stipulated in Charges section of this document. ii The policy shall continue to be invested in the discontinued policy fund and the proceeds from the discontinuance fund shall. n Three plan options to maximize the benefits Invest Plus Option for Insurance cum Investment Premium Waiver Option to protect milestones for dependents Golden Years Benefit Option for retirement planning with whole life cover n Premium waiver benefit that protects the future of your loved one in your absence n Choice of 10 fund options with unlimited free switching n Systematic Transfer plan

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