HDFCLife Pro Growth Plus Policy

HDFC pro growth plus

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The HDFC pro growth plus is a unit linked insurance plan in which the premium collected is invested in capital market and high returns are earned. Also all the benefits of insurance are there. It is a way by which a person can financially protect his family after him. There are great investment opportunity providing 4 different types of fund to invest in. the main benefit of this plan is that a person can partially withdraw the money to meet any financial emergencies.

The main feature and benefit of this plan are-

  1. Life- Entry age from 14 to 65 years and maximum age at maturity is 75 years
  2. Extra life- Entry age from 18 to 55 years and maximum age at maturity is 70 years
  3. Policy term- it is of 10 to 30 years
  4. Regular premiums- the minimum value of regular premium is Rs 24000 for a year, Rs 10000 for half year and 2500 for a month.
  5. Maturity benefit- a person will get the fund value at the time of maturity
  6. Death benefit- it is applicable to the person who has invested large amount of money or fund value or to the person who have paid 105% of total premium till the date.
  7. If the assurer has chosen the option of afterlife then the sum assured is paid if the death happens by accident.

The documents required for HDFC life pro growth plus are-

The documentation is very simple and a person is required to submit all of them in self attested format. The documents are-

  1. Age proof- a person is required to submit any one of birth certificate, passport, driving license, school certificate
  2. Address proof- ration card, Aadhar card. Driving licence, telephone bill, phone bill or gas connection card.
  3. Income proof- form 16 or the salary slip not older than 3 months.
  4. Identity proof- pan card, voter Id, driving licence, ration card or passport.
  5. Payment- the payment at HDFC is done through demand draft or cheque drawn in favour of ‘HDFCSLIC’ payable at par
  6. One passport size photograph.

If a person is having all these documents then he will face no difficulty in taking this plan for himself.

 

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The key features of the HDFC life pro growth plus are-

Blue chip fund- the chance of risk and return in this fund is very high as the money is skewed up in equity assert allocation by 80% to 100%. Only 0% to 20% is left which is then allocated in cash, deposits, money market instruments and liquid mutual funds. So the fund investment in this is basically in equity and related instruments.

Opportunity fund- the funds which are involved in HDFC pro growth plus mainly comprises of mid-cap equities and equity related instruments. The percentage in which they divide is that 0% to 20% is allocated in money market instruments, cash, deposits and liquid mutual funds and rest 80% to 100% in equity. Hence the probability of risk and returns is very high in this case.

Income fund- this fund is having moderate risk and returns as the fund composition is 80% to 100% in government securities, fixed income instrument and bonds while only 20% to 0% is invested in money market instrument, cash deposit and liquid mutual fund.

Balanced fund- it is the fund which is allocated in order to balance out the different assert classes resulting in moderate to high risk. The investment in the equity is from 40% to 80% which enhance the return while debt allocation helps in reducing the volatility of returns. The rest 0% to 60% of funds are allocated in the government securities, fixed income instruments and bonds and also some of the investment that is from 0% to 20% is invested in money market instrument, deposits, cash and liquid mutual funds.

HSFC SL pro growth Super II- it is a unit linked saving as well as insurance plan having lot of features and benefits.

Features-

  1. Level of protection
  2. Regular premiums
  3. Age limit
  4. Choice of funds

Plan options-

Plan Option Cover
Life Option Death Benefit
Extra Life Option Death Benefit + Accidental Death Benefit
Life & Health Option Death Benefit + Critical Illness Benefit
Extra Life & Health Option Death Benefit + Critical Illness Benefit + Accidental Death Benefit
Life & Disability Option Death Benefit + Accidental Total & Permanent Disability Benefit
Extra Life & Disability Option Death Benefit + Accidental Death Benefit + Accidental Total & Permanent Disability Benefit
Life & Health & Disability Option Death Benefit + Critical Illness Benefit + Accidental Total & Permanent Disability Benefit
Extra Life & Health & Disability Option Death Benefit + Accidental Death Benefit + Critical Illness + Accidental Total & Permanent Disability Benefit

 

Extra benefits-

  1. Benefits on the unfortunate incident of death
  2. No medical tests required.

 

 

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