HDFC Life Endowment Gain Plan
HDFC Endowment Gain Plan is a Traditional Participating Endowment Plan. Thus, it is a non-linked Insurance Plan with Bonus facility.
Key Features
This plan has Simple Reversionary Bonus compounded annually
On Policy Maturity, the basic Sum Assured + the Reversionary Bonus would be paid to the Life Insured as Maturity Benefit
On unfortunate Death of the Life Insured within the Policy Tenure, the basic Sum Assured + the accrued Reversionary Bonus would be paid to the nominee as Death Benefit
There are 2 additional riders available with this plan:
-
- Critical Illness Benefit rider
- Accidental Death Benefit rider
Benefits
If the Life Insured dies within the Policy Tenure, the basic Sum Assured + the accrued Reversionary Bonus would be paid to the nominee as Death Benefit and the policy would be terminated.
On maturity, the basic Sum Assured + the Reversionary Bonus would be paid to the Life Insured as Maturity Benefit and the policy would be terminated. Terminal Bonus may also be paid at the end of the Policy Tenure.
Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Benefit is tax fee under section 10(10)D subject to fulfilment of terms and conditions.
How it works
Sum Assured= Rs.2,00,000
Eligibility
|
Minimum
|
Maximum
|
|
|
Policy Term (in years)
|
10
|
30
|
|
Premium Payment Term (in years)
|
Equal to Policy Tenure
|
|
|
Entry Age of Life Insured without riders (in years)
|
18
|
60
|
|
Entry Age of Life Insured with riders (in years)
|
18
|
55
|
|
Age at Maturity without rider (in years)
|
-
|
75
|
|
Age at Maturity with rider (in years)
|
-
|
70 for CI
65 for ADB
|
|
Annual Premium (in Rs)
|
5000
|
No Limit
|
|
Payment modes
|
Yearly, Half-Yearly, Quarterly and Monthly
|
|
FAQs
What happens if you stop paying the premium?The policy will lapse if the premium stops. However, it can be revived within 3 years from the date of first unpaid premium.
What happens if you want to surrender the policy?What happens if you want a loan against your policy?There is no Loan available under this plan.
