HDFC ULIP Plans

Types Of ULIPs Offered By HDFC Life
Conclusion

Unit Linked Insurance Plans or ULIPs are insurance plans that provide mutual benefits of insurance coverage and market-linked investment. ULIPs provide flexibility to the individuals to invest in equity or debt funds or in a balanced mix of both as per their risk appetite and interests. They earn returns for the policyholder according to the fund performance in the market. Along with providing insurance cover, ULIPs also help with capital appreciation over a long period of time.

Types Of ULIPs Offered By HDFC Life

Here are a few types of ULIPs offered by HDFC Life -

1. HDFC Life Click 2 Wealth

It is Unit-Linked, Non-Participating, Life Insurance Plan which offers market linked returns to the investor along with providing financial protection to secure the future for yourself and your family.

Features

Minimal Charges: There are only fund management charges towards the management of your funds and mortality charge towards your life insurance coverage.
Special Addition: 101% of premium is allocated to the policy holder's funds for the 1st five years.
Return of Mortality Charges on Maturity: Mortality charges pertaining to the life assured would be refunded, in case of the Premium Waiver option.
Premium Waiver Benefit: This feature protects the future of your family and loved ones even in your absence.
Free Switching: This plan offers 10 fund options for the investor to invest with unlimited free switching.

2. HDFC Life Click 2 Invest ULIP (Online Unit Linked Insurance Plan)

HDFC Life 2 Invest- ULIP is an online Unit Linked Insurance Plan that provides market linked returns at minimal charges and secures the future of your family. This plan best meets your investment needs.

Features

This plan offers 11 fund options to choose according to your investment style
The premium payment options include Single; limited: 5, 7, 10 years; and regular: same as the policy term.
The policyholder is flexible to choose the Policy term from 5 to 20 years.
Tax Benefits under Section 80C and Section 10(10D) of Income Tax Act,1961 prevail to this plan. However, the tax laws are subject to change.
On the maturity of the policy, the life assured may choose to withdraw the lump sum at existing unit prices or can opt for Settlement Option.

HDFC SL ProGrowth Flexi

The HDFC SL ProGrowth Flexi is a savings cum insurance ULIP which enables you to provide financial protection to your loved ones along with paving an investment path for you in the capital market.

Features

This plan provides two benefits and the policyholder is flexible to choose between them. They are:
i. Life Option = Death Benefit
ii. Extra Life Option = Death Benefit+Extra Death Benefit.
The policyholder is flexible to choose from 10 varieties of funds to invest.
There is also a flexibility to choose any sum assured 10 to 10 times of the annual premium.
Tax Benefits are applicable according to Section 80C of the Income Tax Act,1961.
Settlement Option which may extend the tenure to a maximum period of years, is available for the policyholders.

Conclusion

The ULIPs by HDFC Life are amazing offers to provide protection to your family. Choosing a Policy is the personal decision of the individual and depends on his/her risk appetite, income, circumstances, financial requirements and long term goals. The longer the investment, the larger the returns. Therefore ULIPs are the best choice if you have a long term goal to be fulfilled.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.