The ProGrowth Plans by HDFC Life are basically savings-cum-insurance plans that enable you to provide the best to your family today and tomorrow; even you would not be around. There are three kinds of ProGrowth Plans offered by HDFC which have discrete advantages. Given below are those three plan with their advantages:
HDFC Life ProGrowth Plus
HDFC Life ProGrowth Plus, a basic savings-cum-insurance policy that enables you, as a policyholder, to enjoy the benefits of a life cover and enjoy the comfort of making your investment plans by the means of it. This unit linked insurance plan helps you in making the most out of equities by the means of channelizing the saved funds effectively.
Advantages
- Flexibility to select amongst the 2 plan options as follows:
- Life Option which offers Death Benefit
- Extra Life Option that offers Death Benefit along with Accidental Death Benefit
- Flexibility to plan your investments according to your risk appetite and return expectation
- Flexibility to partially withdraw the funds from HDFC Life ProGrowth Plus Plan in order to meet various unplanned expenses
- Under section 80C and section 10(10D) of the Income Tax Act, tax benefits of the HDFC ProGrowth Plus Plan are also remarkable. However, these benefits are subject to certain provisions contained in it
- Paying premiums under the HDFC ProGrowth Plus Plan is very convenient as it offers various payment modes, such as internet banking, credit card, auto debit facility, or cheque
HDFC SL ProGrowth Super II
HDFC SL ProGrowth Super II is an enhanced savings-cum-insurance ULIP that helps you, as a policyholder, in planning the best for your family, with you and after you. This Unit Linked Insurance Plan is designed to support you in achieving long term savings for you and your family’s future.
Advantages
- This savings plan allows you to choose amongst the following eight plan options:
- Life Option with Death Benefit
- Extra Life Option with Death Benefit in addition to Accidental Death Benefit
- Life and Health Option that offers Death Benefit along with Critical Illness Benefit
- Extra Life and Health Option that offers Death Benefit along with Critical Illness Benefit and Accidental Death Benefit
- Life and Disability Option that offers Death Benefit in addition to Accidental Total and Permanent Disability Benefit
- Extra Life and Disability Option with Death Benefit in addition to Accidental Death Benefit and Accidental Total and Permanent Disability Benefit
- Life and Health and Disability Option which offers Death Benefit addition to Critical Illness along with Accidental Total and Permanent Disability Benefit
- Extra Life and Health & Disability Option that allows Death Benefit Plus Accidental Death Benefit, Critical Illness, and Accidental Total and Permanent Disability Benefit
- HDFC SL ProGrowth Super II Plan ensures your family’s protection when you would not be around. In the unfortunate event of your demise during the term of the policy, the insurer will pay the Sum Assured along with the total fund value to the beneficiary or the nominee.
- To avail this policy, you just need to fill up a short medical questionnaire, that might not necessitate you to undergo medical checkups
- You can manage your investment funds either by switching funds from one fund to another or by redirecting future premiums into other funds
- Then plan also offers some considerable tax benefits as per section 80C and section 10(10D) of the Income Tax Act.
- The plan also offers convenient payment of premiums through multiple modes, such as – internet banking, auto debit facility, or credit cards
HDFC SL ProGrowth Flexi
It is wise to be prepared in advance so as to accomplish all the goals of your life in a way that safeguards your funds. To help you do the same, HDFC has designed SL ProGrowth Flexi Plan which is a savings-cum-insurance ULIP. This plan ensures financial security of your family in you absence by insuring you against unforeseen eventualities of life and helping you save for your future needs.
Advantages
- This investment plan provides valuable safeguard to your loved ones. In the unfortunate event of your untimely demise during the term of the policy, the beneficiary will be entitled to the greater amongst the Sum Assured of the plan or the total fund value of the insured life
- When the policy matures, you can either receive the total Fund Value at existing unit prices j the form of a lump sum or go for the for settlement option
- The plan allows you to channelize your corpus from one to another fund option at any time or forward the future premiums of the plan towards a different range of funds
- The plan also offers tax benefits under the section 80C and section 10(10D) of Income Tax Act.
Premium payment under this plan I also very convenient through its various modes, like internet, credit card, auto debit facility, or cheque
