Life Insurance

The product has a waiting period of 45 days from the commencement date of risk. In case of revival of the policy, the waiting period shall not be applicable.

HDFC Life Saral Jeevan ensures that your family is nancially protected in your absence by paying them Sum Assured on

• Death dened as higher of:
  • (a) X times the annualized premiums@; or
  • (b) 105% of the Total Premiums Paid till the date of death
• (2) The multiple of ‘X’ times is dened as follows::
  • (a) X = 10 Where age at entry is less than 45 years
  • (b) X = 7 or 10 Where age at entry is 45 years or more

Yes, you have an option to alter the premium payment frequency during the premium payment term.

• Entry age for 10-year term – 8 years to 55 years
• Entry age for 15-year term – 3 years to 60 years
• Entry age for 20-year term – 30 days to 55 years
• Maximum age at maturity for the 10-year term is 65 years and for other terms is 75 years

Simple Reversionary Bonus is guaranteed to be a minimum of 3% p.a. as a percentage of the Sum Assured during the premium payment term. After the premium payment term, the policy will continue to earn reversionary bonuses as declared by the company from time to time.

With HDFC Life Classic Assure Plus, pay premiums for 7 years for policy terms of 10 and 15 years or pay premiums for 10 years for a policy term of 15 and 20 years.

On survival till the maturity date and on full payment of premiums due throughout the premium paying term, you will receive the Sum Assured on Maturity plus accrued bonuses.

The premiums can be paid annually, half-yearly, quarterly and monthly

The plan can be applied for by filling in the Short Medical Questionnaire (SMQ), which may not require you to go for medicals.

The policyholder can avail a loan under the policy, provided the policy has acquired a surrender value and subject to terms and conditions as the company may specify from time to time.

The plan will acquire a Guaranteed Surrender Value provided

• 2 full years' premium has been paid for a premium paying term of 7 years
• 3 full years' premium has been paid for a premium paying term of 10 years

On death of the life assured, provided all due premiums are paid, we would pay the highest of the following

• Sum Assured on Death
• 10 times annualised premium¹
• 105% of the total premiums²paid

plus accrued bonuses if declared, to the nominee.

We will terminate the policy on payment of the maturity or death benefit.

Where, Sum Assured on Death is the absolute amount of benefit which is guaranteed to become payable on death of the life insured, in accordance with the terms and conditions specified in the policy.

¹Annualised premium shall be the premium amount payable in a year chosen by you, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

²Total premiums paid means total of all premiums received, excluding any extra premium, any rider premium and taxes

In case of death due to suicide, within 12 months from the date of inception of the policy, the nominee of the policyholder shall be entitled to 80% of the premiums paid provided the policy is in-force or from the date of revival of the policy, the nominee of the policyholder shall be entitled to the amount which is higher of 80% of the premiums paid till the date of death or the surrender value as available on the date of death.

The policyholder can avail Loan under the policy provided the policy has acquired a surrender value and subject to terms and conditions as the Company may specify from time to time.

Policy Term is the period at the end of which the maturity benefit will be paid. One can choose a policy term of 15 to 40 years. In case of the “Endowment” Option, the life insurance cover will cease after the policy term.

In case of “Endowment with Whole Life”, the life insurance cover shall continue even after the policy term, till the age of 100 years

The policy will acquire a Guaranteed Surrender Value (GSV) provided 2 full years’ premium has been paid :-

The GSV shall be an aggregate of

• Percentage of total premiums paid
• Percentage of accrued bonuses and accrued guaranteed additions

Please refer to the sales brochure to know the percentage factors for GSV excludes any underwriting extra premiums and any taxes paid

The plan options available under HDFC Life Sampoorn Samridhi Plus are.

• Endowment – policy terminates after the maturity payout
• Endowment with Whole Life – life cover continues after the maturity payout till 100 years of age

Limited premium payment term equal to policy term less 5 years

The plan provides you with additional boosters in the form of guaranteed additions, provided the policy is in force. The Guaranteed Additions are payable at maturity or death, whichever is earlier. The rate of Guaranteed Additions will depend upon the policy term and will accrue during the first 5 years of the policy:

On death of the life assured during the policy term, provided all due premiums have been paid; we would pay the nominee highest of the following.

• 1. Sum Assured on Death + Accrued Guaranteed Additions + Accrued Reversionary Bonuses (if declared) + Interim bonus (if declared) + Terminal bonus (if declared)
• 2. 105% of total premiums paid till date Where Sum Assured on Death, shall be the highest of:
• 3. SA on maturity, which is absolute amt of benefit guaranteed to be payable at the maturity of the policy in accordance with the T&C of the policy
• 4. An absolute amount assured to be paid on death, which in this case is equal to the Sum Assured on Maturity
• 5. 10 times Annualized Premium for entry age up to 50 years and 7 times Annualized Premium for entry age greater than 50 years

Risk cover starts from date of commencement of policy for all lives including minors

At the end of the policy term, provided all due premiums have been paid; you will receive the aggregate of:

• Sum Assured on Maturity
• Accrued Guaranteed Additions
• Accrued Reversionary bonuses (if declared)
• Interim bonus (if declared)
• Terminal bonus (if declared)

If you have chosen Endowment Option you policy will terminate post payment of Maturity benefit. If you have chosen Endowment with Whole Life Option, whole life benefit will be payable upon the death of the life assured after the policy maturity or upon the life assured surviving to 100 years of age, whichever is earlier.

At the end of the policy term, provided all due premiums have been paid, you will receive the aggregate of:

• Sum Assured on Maturity
• Accrued Guaranteed Additions
• Accrued Reversionary Bonuses
• Interim Bonus (if any)
• Terminal Bonus (if any)

HDFC SL Crest – ULIP, lets you enjoy market linked returns along with valuable financial protection for your family when needed the most, so that when you reap the returns of life, they are on crests not on lows.

HDFC SL CREST OFFERS

• Benefit of paying Premium(s) for a limited term.
• Benefit of financial protection for your loved ones.
• Benefit of choice of investment options

In this plan, your premiums (net of Charges) will be invested in the fund(s) as per the investment option of your choice. On maturity of the plan, you will receive the fund value as per the investment option selected by you

In case of the Life Assured's unfortunate demise, we will pay to the Nominee.

• Sum Assured less all withdrawals made during the two-year period immediately preceding the death of the Life Assured,
• Unit Fund Value

Subject to Minimum Death Benefit payable will be of 105% of the total premium(s) paid.

This plan is available with a Short Medical Questionnaire (SMQ) based Underwriting #.

Please speak to our Financial Consultant to know more details

Minimum premium is Rs. 50,000 with annual* premium payment frequency option.

^*Annualized Premium means the premium amount payable in a year excluding the taxes, Rider Premium(s) and Underwriting extra premium on riders, if any

There is only Annual* premium payment frequency option available in this policy.

*Annualized Premium means the premium amount payable in a year excluding the taxes, Rider Premium(s) and Underwriting extra premium on riders, if any.

Tax Benefits* under Section 80C and Sec 10(10D) of Income Tax Act 1961.

* Subject to provisions as per Income Tax Act, 1961. Tax Laws are subject to change.

There are 3 Plan Options available under HDFC Life SampoornNivesh as mentioned below.

• 1. Classic Benefit
• 2. Classic Plus Benefit
• 3. Classic Waiver Benefit

You can choose any one of the above options on inception based on your requirements. Please refer to the product brochure for more details

In case of death due to suicide within 12 months from the date of inception of the policy or from the date of the revival of the policy, the nominee or beneficiary of the policyholder shall be entitled to the fund value, as available on the date of death. Any charges recovered subsequent to the date of death shall be paid back to the nominee or beneficiary along with the death benefit. In case, the Policyholder has opted Extra Life Option under the Plan, the Accidental Death Benefit will be payable subject to terms and conditions. For detailed exclusions please refer to product brochure carefully and/or consult Relationship Manager.

Premium Redirection: There are 4 free premium redirections in each policy year. Subsequent premium redirections, if any, will attract a charge of 250 per request or a reduced charge of `25 per request if executed through the company's web portal.

Switching charges: There are 4 free switches in each policy year. Subsequent switches, if any, will attract a charge of `250 per request or a reduced charge of `25 per request if executed through the company's web portal. This charge will be levied on switching of monies from one fund to another available fund within the product. The charge per each switch will be levied at the time of effecting the switch

Loyalty Additions (as percentage of the average fund value) will be added to the fund value every alternate year starting from the end of 11th policy year for limited and regular premium payment policies.

You will 10 Fund options to choose upon.

Minimum premium amounts for various premium payment frequencies are as follows:

Single: `12,000

Annual: `12,000

Half-yearly:6,000

Quarterly:`3,000

Monthly: `1,000

Excluding tax*

Beneficiaries will receive benefits based on the plan chosen.

Classic: Higher of Sum Assured, Fund Value or 105% of the total premium(s) paid

Classic Plus: Higher of Sum Assured + Fund Value or 105% of the total premium(s) paid

Classic Waiver: Higher of Sum Assured or 105% of the total premium(s) paid

Get an accidental death benefit when you choose the Classic Extra Life plan

There is no limit on maximum amount that you can invest under this plan, subject to underwriting.

The premium payment frequencies under this plan are Annual, Half yearly, Quarterly and Monthly or Single.

You can make lump sum partial withdrawals from your funds after 5 years of your policy provided:

• The Life Assured is at least 18 years of age.
• The minimum partial withdrawal amount is ` 10,000. This is subject to change from time to time.
• The fund value after the partial withdrawal and any applicable charges (including applicable taxes and statutory levies, if any) is not less than 150% of annualized premium for limited premium payment policies.
• For limited and regular premium payment policies, the maximum amount that can be withdrawn from the basic fund value throughout the policy term is 300% of the annualized premium.
• For single premium payment policies, maximum amount that can be withdrawn from the basic fund value throughout the policy term is 50% of single premium.

The partial withdrawals shall not be allowed which would result in termination of Policy

On death of the life assured, we would pay to the nominee the Assured Death Benefit of total premiums paid1 to date accumulated at a guaranteed rate of 6% per annum compounded annually. The minimum level of death benefit at all times will be 105% of the premiums paid. Your nominee has an option to utilise the death benefits, fully or partly, for purchasing an immediate annuity from us. However, the nominee or beneficiary shall be given an option to purchase annuity from any other insurer at the then prevailing annuity rate to the extent of percentage, stipulated by the Authority, currently 50%, of the proceeds of the policy net of commutation. Alternatively, your nominee can withdraw the entire death benefit as a lump sum

Please note the guaranteed rate of 6% p.a. on the premiums paid to date is applicable only for the purpose of calculating death benefit and not for vesting benefit.

¹ Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes

On survival till the vesting date and on full payment of premiums due throughout the premium paying term, you will receive sum of.

- Sum Assured on vesting

- Guaranteed Additions

- Vesting Addition

Regulation mandates how this Vesting Benefit will be payable to you. Please refer to 'Product Brochure' for more details.

Yes, Tax Benefits may be available as per prevailing tax laws. You are requested to consult your tax advisor.

HDFC SL ProGrowth Flexi, a savings-cum-insurance unit-linked plan (ULIP) that enables you to provide financial security to your loved ones.

The HDFC SL ProGrowth Flexi gives

• Valuable financial protection to your family in case you are not around.
• Flexible additional benefit options.
• Opportunity to invest in a choice of Funds.

In this plan you can choose your premium and the investment fund(s). We will then invest your premium, net of premium allocation Charges in your chosen fund(s) in the proportion you specify. At the end of the policy term, you will receive the accumulated value of your fund(s)

In case of your unfortunate death during the policy term, your Nominee will receive the greater of Sum Assured (less withdrawals) or fund value¹

For the complete details regarding Death Benefit, please read the product brochure

In case of your unfortunate death during the policy term, your Nominee will receive the highest of the following:

• Sum Assured (less all withdrawals made during the two year period immediately preceding the death of Life Assured)
• Unit Fund Value.
• The minimum Death Benefit of 105% of the total Premium(s) paid

The policy will terminate thereafter and no more benefit will be payable.

There are 10 fund options to choose from in this plan.

• Income Fund
• Balanced Fund
• BlueChip Fund
• Opportunities Fund
• Equity Plus Fund
• Bond Fund
• Diversified Equity Fund
• Conservative Fund
• Discovery Fund
• Equity Advantage Fund

Minimum premium amounts for various premium payment frequencies are as follows.

Annual: ₹ 24,000

Half Yearly: ₹ 10,000

Monthly: ₹ 2,500

Annual, Half-yearly and Monthly.

*It is mandatory for policies with monthly frequency to be taken with ECS/SI & to pay first 3 months Premium(s) in advance

What is the Min/Max age at Entry/Maturity:

For a policy where all due premiums have been paid, the maturity benefit will be the aggregate of:

1. Last Survival Benefit payout,

2. Accrued Reversionary Bonuses,

3. Interim Bonus, if any

4. Terminal bonus, if any

On payment of the Maturity Benefit, the policy will terminate and no more benefits will be payable. In cases where Life Assured is minor, the policy will automatically vest on him or her on attaining age 18 years.

Yes the plan provides the option to the policyholder to receive the future payouts monthly instead of yearly. In such cases, the monthly payout shall be 8% of the annual payout.

The policyholder can avail Loan under the policy provided the policy has acquired a surrender value and subject to terms and conditions as the Company may specify from time to time.

Choose to pay premiums for limited periods between 8, 10 or 12 years.

In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary of the policyholder shall be entitled to at least 80% of the total premiums paid till the date of death or the surrender value available as on the date of death whichever is higher, provided the policy is in force

The policy will acquire a Guaranteed Surrender Value (GSV) provided 2 full years’ premium has been paid for premium payment term of 8 years and 3 full years’ premium have been paid for premium payment term of 10 and 12 years.

On death of the life assured during the term of the policy, provided all due premiums are paid; we would pay to the nominee the higher of the following:

• Sum Assured on Death + Accrued Reversionary Bonuses + Interim Bonus (if any) + Terminal Bonus (if any)
• 105% of total premiums paid^ till date Where, the Sum Assured on Death shall be the higher of
• Sum Assured on Maturity:
• 10 times Annualised Premium /Single Premium for entry age up to 50 # years and 7 times Annualised Premium for entry age greater than 50 years

On death of the life assured during the payout period, the Death Benefit payable shall not be reduced by the survival benefits already paid

# Annualised premium shall be the premium amount payable in a year excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any

^ Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

On payment of the Death Benefit during the policy term, the policy will terminate and no future payouts will be payable

Survival Benefit is expressed as percentage of the Sum Assured on Maturity. This guaranteed amount is known to you at the inception and payable at the end of each year during the payout period as per your chosen plan option.

The percentages are as follows:

HDFC Life Capital Shield is a non-par Unit Linked Plan. It is an investment-cum-insurance plan that offers the potential of better returns, by investing a part of your money in equity and the balance in debt, while also providing you with life cover. The allocation of your money to debt fund shall systematically increase over time to protect your capital.

Capital Shield provides a Policy Term of 10 years

- Protect your investment from market risks with an Assured Maturity Benefit of 101% of the Total Premiums paid

- Pay premiums only once or for a limited period of 5 years

- Get increasing Loyalty Additions from the end of the 6th policy year onwards to boost the Fund Value

- Stay protected during the entire policy term with life insurance cover

The age limits for this plan include:

In case of the Life Assured’s unfortunate demise during the Policy term, provided all due premiums have been paid, we will pay to the nominee the “Sum Assured on Death” The “Sum Assured on Death” shall be the highest of:

- Sum Assured less an amount# for Partial withdrawals made, if any (as detailed below)

- Fund value

- 105% of total premiums paid till the date of death^*

#The partial withdrawals to be deducted from the Sum Assured shall be:

All partial withdrawals made during the two year period immediately preceding the date of death of the Life Assured. Upon the payment of the death benefit the policy shall terminate & no other benefits shall be paid.

*Guaranteed death Benefit.

Loyalty additions (as percentage of the average fund value) will be added to the fund value in the form of additional units from the end of 6th policy year onwards, provided all due premiums have been paid. The Loyalty Additions will be added for both Single Pay and Limited Pay policies. Percentage of loyalty additions will vary with the Policy Year and have been outlined below:

The average fund value shall be calculated based on the fund values at the end of the policy month, for the immediately preceding 12 policy months. 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.

Your policy matures at the end of the policy term and all your risk cover ceases. On maturity of the policy, provided all due premiums have been paid, the Life Assured will receive higher of:

- Fund Value

- Assured Maturity Benefit (as defined below)

Assured Maturity Benefit = (101% ^* “Total Premiums” paid till date) less the Total Partial

Withdrawals made till date (if any) Where “Total Premiums” shall be:

- For Single Pay policies : Single Premium

- For Limited Pay policies : 5 times the Annualised Premium

Please note that the Assured Maturity Benefit will be paid only on policy maturity provided all due premiums have been paid and will not apply on death or surrender. Upon payment of the maturity benefit, the Policy shall terminate and no further benefits are payable.

In case of death due to suicide within 12 months from the date of inception of the policy or from the date of the revival of the policy, the nominee or beneficiary of the policyholder shall be entitled to the fund value, as available on the date of death. Any charges recovered subsequent to the date of death shall be paid back to the nominee or beneficiary along with the death benefit.

There are 2 Fund option to choose:- Capital Growth Fund & Capital Secure Fund.

HDFC Life Assured Pension Plan can help you achieve your retirement goals by planning well in advance. You can choose either a single pay or premium paying term of 8, 10 or 15 yrs, and stay invested for a policy term of your choice to enjoy complete benefits of the regular income post retirement.

Annual Rs 24,000

Half Yearly Rs 12,000

Quarterly Rs 6,000

Monthly Rs 2,000

There is no absolute maximum premium amount. However, the acceptance of any case is subject to our Board Approved Underwriting Policy.

1% of the average fund value at the end of the policy month, for immediately preceding 24 months. This will be added to the fund value every alternate year starting from the end of 11th year for the policies where all due premiums have been paid.

The premiums paid by you are eligible for tax benefits under Section 80CCC of the Income Tax Act, 1961.

Up to 1/3rd of the policy proceeds can be taken as tax-free commuted value, as prescribed under Sec 10 (10A) of the Income Tax Act, 1961.

There isn’t any provision of top-up premiums in this plan.

Death Benefit will be payable to the Nominee.

On a valid death claim, the death benefit shall be the higher of:

• Assured Death Benefit i.e.105% of total premiums paid till date
• The Unit Fund Value.

Upon payment of this benefit, the Policy terminates and no further benefits are payable.

The annuitisation provisions for death benefits are set out below:

The following options shall be available:

• To utilize the death benefits, fully or partly, for purchasing an immediate annuity from us at the then prevailing annuity rate offered; or
• To withdraw the entire death benefit

Click 2 Protect Health provides both Protection and Health benefits under one plan. It protects you and your loved ones from financial losses due to death or health incidents.

A Combo Plan is one where two or more products of the same company are sold together as a solution. A Combi Plan is one which is a combination of a life plan and a health plan from two different insurers

A customer will get 5% discount (offline) on annual premiums paid towards both Life & Health. At any time during the validity of the policy, the Customer decides to opt out of the insurance coverage of one of the Insurer, the discount, if any, being offered to such Customer under Click 2 Protect Health shall not be available to the Customer going forward

Yes, the health part of the Click 2 Protect Health allows any health policy from another insurer to be ported, subject to waiting periods.

Protection- Premiums 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, 1961, the benefits received from this policy are exempt from tax, subject to the conditions specified therein. Please note that the above mentioned benefits are as per the current tax rules. Your tax benefits may change if the tax rules are changed. You are requested to consult your tax advisor.

Health- The premium amount paid under this policy qualifies for deduction under Section 80D of the Income Tax Act.

The maximum number of members included in a family floater if 4. The available combinations are Adults, 2 Adults +1 child, 2 Adults +2 Children, 1 Adult +1 Child, 1 Adult +2 Children, 1 Adult + 3 Children.

HDFC Life brings to you HDFC Life Cardiac Care, a comprehensive cardiac care plan that provides financial protection for 18 cardiac conditions of three degrees of severity – mild, moderate and high. In addition, the plan also offers unique features like:

• Waiver of premium for outstanding term in case of Claim for a mild/moderate severity condition
• Option to choose hospitalization benefit which provides Lump Sum benefit in case of hospitalization
• Multiple claims for the same or different condition subject to exhaustion of applicable sum assured

Cardiac ailments are on the rise and can affect anyone, anytime. In addition to the lengthy course of treatment, cardiac ailments can also impact one’s finances. In order to ensure that you protect not only yourself, but also your family, HDFC Life brings to you HDFC Life Cardiac Care; a specialized plan that aims at taking care of any cardiac related financial emergencies and ensure that instead of worrying about your family or finances, you can concentrate on getting better:

Cardiac Care is a fixed benefit plan that offers a Base Benefit under which you receive Lump Sum benefit for any of the covered conditions. The benefit amount payable varies depending on the severity of the condition. In addition the plan offers the following optional benefits:

• Hospitalization Benefit – lump sum benefit payable in case of hospitalization due to covered condition
• Indexation Benefit – 10% increase in Sum Assured for every Claim free year after first Policy Year
• Income Benefit – 1% of sum assured paid as monthly income for 5 years in case of claim for condition of high severity.

The customer may opt for a single option or multiple options in any possible combination under this plan. The optional benefits need to be selected at inception of the policy. All benefits payable under the optional benefits are over and above the base benefit and will not impact the base sum assured.

Please refer policy brochure.

The following benefit is payable for Claim under the following category:

• High Category – 100% of Sum Insured
• Moderate Category – 50% of Sum Insured
• Mild Category – 25% of Sum Insured

The benefit will be payable till exhaustion of the applicable sum insured under the policy.

Indexation benefit continues till the original increased Sum Assured reaches 200% of original sum assured or Claim occurs whichever is earlier.

Yes. The ICU & Non-ICU benefits payable under the hospitalization benefit are independent of each other and will be subject to their respective limits. In case limit for one room type is exhausted, the limit under the second room type will continue. e.g. If the benefit for ICU benefit is exhausted, the benefit for Non ICU room will continue

Waiting Period.

On inception:

A waiting period of 180 days shall apply from the date of risk commencement.

On revival:

If the policy is revived within 60 days of premium due date, only the remaining part of waiting period, if any will apply.

If the policy is revived after 60 days of premium due date, full 180 days waiting period will apply afresh Survival Period

A survival period of 30 days from the date of occurrence of covered condition is applicable for this plan.

Please refer policy brochure

HDFC Life Cardiac Care plan aims to aid the expenses incurred due to any cardiac condition/procedure. Hence its benefits are linked to diagnosis and treatment of disease and no Death Benefit is payable.

No, there is no Maturity benefit available under this plan.

Surrender Benefit is payable only in case of single pay option under this plan. In case of surrender, the Surrender Value payable will be

60% x (Single Premium – U/W cost) x (1 – M/P).

where,

UW cost: Rs. 2,750 for medically underwritten life

M: policy month of surrender

P: Policy Term in months

Tax Benefits under Section 80D of Income Tax Act, 1961 are applicable for Premium(s) paid towards this plan.

Please note tax benefits are subject to change in tax laws.

Step 1: Choose the purchase price that you wish to pay to buy annuity or choose the annuity amount you wish to receive

Step 2: Choose your annuity option

Step 3: Choose your annuity payout frequency– monthly, quarterly, half-yearly, or yearly

Step 4: Receive your annuity payouts through direct credit to your bank account

You can choose any of the following annuity options at inception. Plan option once selected cannot be changed.

• Immediate Life Annuity
• Immediate Life Annuity with Return of Purchase Price
• Deferred Life Annuity with Return of Purchase Price

The product is available on a single life as well as joint life basis for all options. The Primary Annuitant will be the primary person entitled to receive the payouts, while the Secondary Annuitant will be entitled to receive the annuities, if so opted, in the event of death of the Primary Annuitant, if applicable.

In a Joint Life annuity, the secondary annuitant can be the spouse/child/parent/parent-in-law or sibling of the primary annuitant. Other relationships maybe considered as long as there is an insurable interest3 between the annuitants.

³Annuitants are said to have an ‘insurable interest’ in the other when they stand 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.

A single premium is payable in advance at the start of a contract. Your annuity (for annual frequency) will be calculated as follows:

• Annuity Payout = Applicable Annuity Rate ^* Purchase Price

The Death Benefit will vary depending on the annuity option selected by the policy holder. The table below sets out the Death Benefits for different annuity options:

The purchase price referred above excludes applicable taxes and other statutory levies, if applicable.

Surrender benefit available under different plan options is as follows:

a. Immediate Life Annuity Option (Single and Joint life option): Surrender not allowed.

b. Immediate and Deferred Life Annuity with Return of Purchase Price (Single and Joint life option):

Surrender Value shall be equal to the Present Value (PV) of expected future benefits discounted at the then prevailing interest + 2%.

Notwithstanding anything stated under this document, the following terms & conditions shall apply to QROPS policyholders:

• Cancellation in the Free-Look Period - If this product is purchased as QROPS through transfer of UK tax relieved assets, the proceeds from cancellation in the free-look period shall only be transferred back to the fund house from where the money was received.
• Non-Forfeiture Benefits – If this product is purchased as QROPS through transfer of UK tax relieved assets, access to benefits from policy proceeds would be restricted till the policyholder attains 55 years of age.
• Overseas transfer charge - In the event of applicable tax charge arising as a result of an overseas transfer (Her Majesty Revenue & Customs (HMRC) - policy paper – The overseas transfer charge – guidance, published 8th March 2017) for which the Scheme Manager i.e. HDFC Standard Life Insurance Company may become liable, we shall deduct an amount only to the extent of the applicable tax charge from the policy value and remit the same to HMRC.

There is no maturity benefit in this plan.

Indirect Taxes

Taxes and Levies as applicable will be charged and payable by you by any method including by levy

of an additional monetary amount in addition to premium and/or charges.

Direct Taxes

Tax will be deducted at the applicable rate from the payments made under the policy, as per the provisions of the Income Tax Act, 1961.

HDFC Life brings to you a comprehensive Cancer Care plan that provides financial protection for both early and major stage of cancer.

This is a plan that not only gives pay outs but also a waiver on premium for the next 3 policy years on diagnosis of early stage of cancer.

There is an increased benefit where the Sum insured under the policy increases every year under the Gold and Platinum option. Also, offers an income benefit under the Platinum option.

With the rising incidence of Cancer in our country, it is necessary to protect your loved against it. To ensure that you and your family are financially protected against this giant disease, Cancer, HDFC Life brings for you HDFC Life Cancer Care ones which will take care of emergencies and help you to continue achieving your life goals without any speed breaker. The various features of the plan are as follows:

• Comprehensive cancer plan that provides financial protection to you and your family against early or major stages of cancer
• Lump Sum payout is provided on diagnosis of early or major stages of cancer
• Future Premium(s) for next 3 policy years will be waived off on receiving a valid Claim of early stage cancer
• Offers Income benefit for next 5 years on diagnosis of Major Stage Cancer, under Platinum option
• Under Gold and Platinum option, the Sum Insured will be increased by 10% every year. This will continue till the increased Sum Insured becomes 200% of the Initial Sum Insured or if any claim is done whichever is earlier.
• All benefits and payouts are independent of any other health insurance plan
• Provides tax benefits on premiums paid up to ₹ 55,000 under Sec 80D of the Income Tax Act, 1961.2

^2. The above mentioned tax benefits are as per the current tax law. Your tax benefit may change if the tax law changes. Consult your tax advisor for your personal tax liabilities under the Income-tax law.

There are 3 plan options available in this product namely Silver, Gold and Platinum. The base benefit is applicable on all the 3 options. The Increased benefit is applicable on Gold and Platinum options where as income benefit is applicable only on the Platinum option.

There would be discount in the form of lower premium rates for incremental Sum Insured over & above. ₹ 10,00,000.

The premium paying frequency available for this plan is Annual, Half-Yearly, Quarterly & Monthly.

Yes, the Sum Insured limit will increase from the subsequent year but this increased benefit is applicable in case of the policyholders who have chosen the Gold and Platinum plan. Under this benefit, the Sum Insured will increase at a rate of 10% of the Initial Sum Insured per annum starting from the first Policy Anniversary.

This increase will continue till the earlier of:

1. Increased Sum Insured becoming 200% of initial Sum Insured and

2. Any Claim event.

Once the claim is made, all future claims shall be based on the Increased Sum Insured at the time of first claim. Further increases to the increased Sum Insured shall not be applicable.

Payout will be depending upon the plan Option chosen.

In case of Silver Option the Lump Sum benefit is payable

In addition to the above on a valid Claim of Early Stage Cancer or Carcinoma-in-situ (CIS) diagnosis, Premium(s) will be waived for a period of 3 policy years. In case the outstanding term is less than 3 years then premiums for the outstanding term would be waived

Gold Option: Under this option the Policyholder receives the benefits described under the Silver option plus an increased benefit.

Under Increased benefit, the Sum Insured increases by 10% of initial Sum Insured each year starting from the first Policy Anniversary. This will continue till the earlier of:

1. Increased Sum Insured becoming 200% of the Initial Sum Insured or

2. Any claim event

Once the claim is made, all future claims shall be based on the Increased Sum Insured at the time of first claim and further increases to the Increased Sum Insured shall not be applicable

Platinum

Under this option the policyholder receives the benefits described under the Gold option benefit plus regular Income Benefit.

Under Income benefit option a monthly income equivalent to 1% of applicable Sum Insured would be paid out to you on diagnosis of the listed major cancers for a fixed period of next 5 policy years.

The minimum cover for the policy is ₹ 10 lakhs whereas the maximum cover for the policy is ₹ 50 lakhs.

Unlike a health insurance, a cancer insurance doesn’t cover Hospitalisation expenses. The policy pays out a Lump Sum to the insured upon diagnosis of the types of cancer listed in the plan. It provides financial protection to your family and can cover expenses like out of pocket medical expenses, out of network specialist, experimental cancer treatment, travel and lodging etc. You are free to seek any type of treatment at a hospital of your choice, including those outside the network.

The Sum Assured is paid to the Policyholder upon diagnosis with cancer. Cancer plans aim to help offset the expenses that incur while battling the critical disease like cancer. Therefore, the payout is linked to diagnosis of disease and no death benefits is payable.

As cancer plan doesn’t pay for Hospitalisation expenses, you don’t have to submit any bills to proceed a Claim. The Policyholder will get a Lump Sum upon diagnosis of cancer and needs to produce medical records of the same to receive the payout.

HDFC Life Easy Health is a fixed benefit health insurance plan, that provides coverage against Critical Illness, specified Surgeries and also provide Daily Hospital Cash Benefit in case of hospitalization. The cover provided by HDFC Life Easy Health is cashless, covers medical expensesmediclaim and the policy will be available for a period of 5 years.

There are 3 separate benefits available in this plan namely:

Surgical Benefit: Avail up to 100% ^* Sum Insured in case of 138 surgeries

Critical Illness Benefit: Get 100% of Sum Insured if diagnosed with any one of 18 Critical Illnesses

Daily Hospital Cash Benefit: Avail Daily Hospital Cash of 1% of Sum Insured per day (Non ICU rooms) and 2% of Sum Insured per day (ICU)

You can select 1, 2 or all the 3 plan benefits at the time of policy purchase.

You can select one or a combination of 2 or 3 benefits available under this health insurance plan. There are 7 plan options that you can select from. They are as follows.

The payout will depend upon the plan benefit(s) chosen.

Daily Hospital Cash Benefit (DHCB)

In case of hospitalization, due to any Injury, sickness or disease, you will receive 1% of Sum Insured as DHCB if admitted in Non ICU room and 2% of Sum Insured if admitted in ICU room

The benefit will be payable as a Lump Sum amount after the completion of each continuous hospitalization for more than 24 hours as a result of injury, sickness or disease. The benefit amount payable will be calculated as mentioned below:

Daily Hospital Cash Benefit * (Number of Days admitted - 1)

• Daily Hospital Cash Benefit will be payable for a maximum of 20 days per year in case the Life Assured is admitted in Non ICU room and Twice the Daily Hospital Cash Benefit will be payable for a maximum of 10 days per year if admitted in ICU room
• Daily Hospital Cash Benefit will be payable subject to a maximum of 60 and 30 days if admitted in Non ICU and ICU rooms, respectively during the entire policy term
• The ICU and non ICU benefits will be independent and subject to their respective limits
• There is a waiting period of 60 days from the date of commencement or reinstatement of the cover, Waiting period will not be applicable for accidental injury

Surgical Benefit (SB)

Surgical Benefit will be payable if the Life Assured has undergone any of the 138 surgeries mentioned in Annexure 2 of the Sales Brochure, provided the surgery is done:

• by a qualified surgeon for a surgical operation and
• performed at a hospital due to injury or
• sickness for covered surgical procedures advised by an independent Medical Practitioner and the policy is inforce during the policy term

In case the Life Assured has to undergo a surgery during the policy term, the benefit payable shall be ascertained on the basis of the Category of the Surgery as shown below:

• You are entitled to make multiple claims and avail benefits up to maximum of 100% of Sum Insured during the policy term
• The Policyholder shall not be allowed to Claim for the same surgery more than once. However, multiple claims from the same category can be made.
• In case 100% of the Sum Insured has been used up, the cover for Surgical Benefit will cease for the Life Assured for the remaining policy term. However, other benefits (such as Daily Hospital Cash Benefit and Critical Illness Benefit, if applicable) will continue to be in force.
• There is a waiting period of 60 days from the date of commencement / reinstatement of the cover. Waiting period will not be applicable in case of accidental injury

Critical Illness Benefit (CI)

• Lump sum benefit equal to the 100% of the Sum Insured shall be payable in case the Life Assured is diagnosed with any of the 18 Critical Illness specified in the Sales Brochure
• In respect of the Critical Illness Benefit, a 30 day survival period is applicable. This refers to the period from the diagnosis of the Critical Illness that the Life Assured must survive for the Critical Illness Benefit to be payable
• Critical Illness Benefit will be payable only once during the entire policy term
• Once the Critical Illness Benefit is paid, the benefit will cease for the Life Assured for the remaining policy term. However, other benefits (such as Daily Hospital Cash Benefit and Surgical Benefit) will continue to be in force
• There is a waiting period of 90 days for Critical Illness Benefit from the date of commencement/ reinstatement of the cover, except in cases where the Critical Illness occurs as a result of an Accident (e.g., Major Head Trauma)

There is a fixed Policy Term of 5 years. Further, you shall only pay Premium(s) for the benefit(s) as long as the complete payout for the that benefit has not happened. The mediclaim Policyholder shall have the option to choose one of the above plan options at the time of policy inception, only

You can choose to pay your Premium(s) either annually (Regular Premium) or one time (Single Premium).

• Annuity plans are pension products, If you want to invest your hard-earned money to meet long-term retirement needs, then an annuity product may be the answer.
• In an annuity plan, a person pays either a Lump Sum amount or regular installments in the given period to get regular payments or payouts as long as he/she lives or for a pre-specified fixed period.
• The insurance companies invest your money and pay back the income generated as payouts when you retire. The annuity plan covers your financial risk by helping you get a regular payment in your sunset years for a comfortable living.

If you want the Annuity payments to start immediately, you can opt for ‘immediate annuity plan’. But, if you need your regular pension payments to start after a specified period (usually after retirement), you can choose a ‘deferred annuity plan’ but you can buy an annuity plan as early as the age of 45 or 50 years but the generally age for starting an income annuity is 60 and above, which allows for the maximum payout.

The rate of return on annuities differs depending on the Annuity plan you choose to invest in. One of the popular options is ‘life annuity with return of Purchase Price’ that works like an FD where the investor will earn an income for life, and the Nominee gets the benefit paid on his/her death. The annual payout on this variant turns out to 5.7-6.4% of the purchase price for someone who is 60 years old. You can also opt for the lifetime annuity, without the return of the initial investment. The interest rate is 7.6-8.1% per annum which is the highest among all variants as the investor does not need to return the Funds to an appointed nominee.

There is no limit on the amount that you need to invest in an Annuity. Whether you choose a deferred or immediate annuity, there are few things you need to consider.

• Your actual financial needs
• Your long-term financial goals
• Your current savings/investment portfolio
• The impact of inflation.
• The alternatives available to you

HDFC Life Pension Guaranteed Plan is a Single Premium Annuity product which provides a regular guaranteed income for lifetime

• Wide range of Annuity options to cater to your needs
• Option to take the plan on a Single or Joint Life basis
• Option to receive immediate or deferred annuity
• Option to receive annuity monthly, quarterly, half-yearly or yearly
• Option of Return of Purchase Price on death
• Options for banks/financial institutions to purchase immediate annuities in respect of annuity payments for their commitments to the homeowners under the reverse mortgage schemes.
• Choice of increasing your Annuity Payouts through Top Up option

Step 1: Choose the Purchase Price that you wish to pay to buy Annuity or choose the annuity amount you wish to receive

Step 2: Choose your annuity option

Step 3: Choose your annuity payout frequency– monthly, quarterly, half-yearly, or yearly

Step 4: Receive your annuity payouts through direct credit to your bank account

• In the case of Joint life annuities the age limits apply to both lives. Annuitant(s) below this age will only be accepted where the proceeds are from a contract issued or administered by the Company where compulsory purchase of an annuity is required. If this product is purchased as QROPS through transfer of UK tax relieved assets, the minimum entry age for payment of annuity will be governed by the rules defined by HMRC from time to time. Higher ages at entry may be allowed for Life Annuity with Return of Purchase Price Option and Joint Life Annuity with Return of Purchase Price options to cater to the needs of NPS subscribers as per extant PFRDA guidelines. In the case of Joint life annuities the age limits apply to both lives
• Amounts below this value will only be offered where the proceeds are from a contract issued or administered by the Company where compulsory purchase of an annuity is required and to the subscribers of the National Pension System regulated by the Pension Fund Regulatory and Development Authority (PFRDA)

The minimum annuity payouts shall be in accordance with IRDAI (Minimum limits for Annuities and other Benefits) Regulations, 2015.

The minimum purchase price that will produce the minimum annuity mentioned above will depend on the minimum annuity rates, as applicable

All ages are calculated as at last birthday. Risk cover starts from date of commencement of policy for all lives including minors. In all individual cases, the relationship between the Proposer and Life Assured shall be specified.

You can choose any of the following Annuity options at inception. Plan option once selected cannot be changed.:

• Immediate Life Annuity
• Immediate Life Annuity with Return of Purchase Price
• Deferred Life Annuity with Return of Purchase Price

The product is available on a single life as well as joint life basis for all options. The Primary Annuitant will be the primary person entitled to receive the payouts, while the Secondary Annuitant will be entitled to receive the annuities, if so opted, in the event of death of the Primary Annuitant, if applicable..

In a Joint Life Annuity, the secondary annuitant can be the spouse/child/parent/parent-in-law or sibling of the primary annuitant. Other relationships maybe considered as long as there is an insurable interest1 between the annuitants.

*Annuitants are said to have an ‘insurable interest’ in the other when they stand 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.

1. Immediate Life Annuity Option

This option is available on both single life and joint life basis.

a.Single Life

• The annuity will be payable in arrears as per payment frequency chosen by you, for as long as the annuitant is alive.
• On death of the annuitant, the annuity payments will cease and no further benefits will be payable.

b.Joint Life

• The annuity will be payable in arrears as per payment frequency chosen by you, for as long as either of the primary or the Secondary Annuitant is alive
• On the death of both annuitants, the annuity payments will cease and no further benefits will be payable

2. Immediate Life Annuity with Return of Purchase Price Option.

This option is available on both single life and joint life basis.

a.Single Life

• The annuity will be payable in arrears as per payment frequency chosen by you, for as long as the annuitant is alive
• On death of the annuitant, Death benefit1 is payable as Lump Sum to the Nominee and no further amount will be payable. Upon payment of the Death Benefit, the policy shall terminate and all other benefits shall cease.

b.Joint Life

• The annuity will be payable in arrears as per payment frequency chosen by you, for as long as either of the primary or the secondary annuitant is alive.
• Death benefit is payable as a lumpsum to the nominee, on later of the deaths of the two annuitants.Upon payment of the death benefit, the policy shall terminate and all other benefits shall cease.

3. Deferred Life Annuity with Return of Purchase Price Option

This option is aailable on both single life and joint life basis. Deferment Period may be between 1 to 10 years (Integer values), as chosen by you at inception. The annuity rate shall be as guaranteed at the inception of the Policy.

a.Single Life

• The annuity will be payable in arrears post deferment period as per payment frequency chosen by you, for as long as the annuitant is alive.
• On death of the annuitant, death benefit is payable as lumpsum to the nominee and no further amount will be payable. Upon payment of the death benefit, the policy shall terminate and all other benefits shall cease.

b.Joint Life

The annuity will be payable in arrears post deferment period as per payment frequency chosen by you, for as long as either of the primary or the secondary annuitant is alive. Death benefit is payable as a lumpsum to the nominee, on later of the deaths of the two annuitants. Upon payment of the death benefit, the policy shall terminate and all other benefits shall cease.

Yes, guaranteed additions and vesting addition is a percentage of this sum assured on vesting

Retirement Plans provide you with a steady flow of income post retirement so that you can continue to live a financially independent life.

Retirement Plans refer to insurance plans which aim to offer you income/ pension after retirement when you may not have any other adequate source of income.

The HDFC Immediate Annuity is a contract that uses your capital to provide you with a guaranteed gross income throughout your lifetime or over a period of your choice. This is the perfect way to plan for your expenses after your retirement. This means you can plan your life the way you want it to be, safe in the knowledge that your gross income will not fall during the period you have selected. This is the perfect way to plan for your expenses after your retirement. The HDFC Immediate Annuity plan offers a number of options to meet all your income needs.

The plan can be applied by filing in the Short Medical Questionnaire (SMQ), which may not require you to go for medicals.

When does the plan acquire Guaranteed Surrender value?
The policy will acquire a Guaranteed Surrender Value (GSV) provided 2 full years’ premium has been paid for premium payment term of less than 10 years and 3 full years’ premium have been paid for premium payment term of 10 years or more.

Yes. The policyholder shall have an option to receive the survival benefits (other than the final payout, payable on maturity) in monthly installments. If so opted for, the monthly survival benefit shall be:

• 8.5% of the annual survival payout,
• payable over a period of 12 months,
• with the first installment being paid on the policy anniversary on which annual survival payout falls due

No. On death of the life assured after the commencement of survival benefits under Academia and Career maturity benefit options, the Death Benefit payable shall not be reduced by the survival benefits already paid.

The policyholder can avail Loan under the policy provided the policy has acquired a surrender value and subject to terms and conditions as the Company may specify from time to time.

The premiums can be paid annually, half-yearly, quarterly and annually

The plan provides you with additional boosters in the form of guaranteed additions where the premium payment term is 10 years or more, provided the policy is in force. The Guaranteed Additions are payable at maturity.

The Guaranteed Additions shall accrue at the end of every policy year as specified below:

As a parent, your priority is your child’s future and being able to meet their dreams and aspirations. Providing a good education, establishing a professional career or even a modest wedding is becoming an expensive proposition with each passing year. Costs are increasing fast. Just imagine how much you will need when your young children take these important steps in life in the future. With our Children’s Plans, you can start building regular savings today to help you secure your child’s immediate and future needs even when you are not around.

Consider the inflated costs of a normal educational course or any other requirements that your child might have in the future. This should be your targeted savings amount, which you would want to receive when the policy matures. Ideally, the term you should choose for the plan is when your child is in a position to require the money. Thereafter, you need to sit with your Relationship Manager to work out the amount to be invested and the level of protection required.

You can opt for one of the following two Plan Option:

• Death Benefit - by choosing the Life Option
• Death Benefit + Critical Illness Benefit - by choosing the Life & Health Option

With either of the plan options, you can select any one of the Benefit Payment Preference that is Save Benefit or Save-n-Gain Benefit, which will determine how your beneficiary will get the benefits in case of a claim.

You can change your investment fund choices in two ways:

• Switching:

You can move your accumulated funds from one fund to another available fund anytime.

• Premium Redirection:

You can pay your future premiums into a different selection of available funds, as per your need.

Yes, you will be eligible for tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961, subject to the provisions contained therein (tax benefits are subject to change in the tax laws. Please refer to the Tax Benefits section for more details).