Is HDFC Life ProGrowth plus good or bad?

The gap between Sum Assured of ₹15 lakhs in HDFC Life ProGrowth Plus to the Sum Assured of ₹1 Crore of a term plan is greater than 600\%. The meager Sum Assured compared to a term insurance plan shows that not only HDFC Life ProGrowth Plus but all other ULIPs are a lousy insurance product.

What is the minimum annual premium in ProGrowth plus?

ELIGIBILITY CRITERIA

PARAMETERS	MINIMUM
Premium(s)	Annual	₹ 1,00,000
HalfYearly	₹ 50,000
Monthly	₹ 8,333
Sum Assured	Age less than 45 years	40 x annualized premium, subject to an absolute maximum Sum Assured amount of ₹ 40, 00,000.

What is the benefit of HDFC Life ProGrowth plus?

Benefits of HDFC Life ProGrowth Plus

	Minimum	Maximum
Premium Paying Frequency	Yearly, half-yearly, monthly
Yearly Premium	24,000	100,000
Sum Assured	Higher of 10*annual premium or 0.5*term*annual premium for ages<45 yrs. Or Higher of 7*annual premium or 0.25*term*annual premium	40*annual premium subject to a maximum of 40 lakhs

What is HDFC Life Progrowth Plus plan?

WHAT IS HDFC LIFE PROGROWTH PLUS? HDFC Life ProGrowth Plus is a regular premium unit linked insurance plan. In this plan you can choose your regular premium and the investment fund(s). We will then invest your regular premium, net of premium allocation charges in your chosen fund(s) in the proportion you specify.

What is the plan options of ProGrowth plus?

HDFC Life ProGrowth Plus is a regular premium unit linked insurance plan. In this plan you can choose your regular premium and the investment fund(s). We will then invest your regular premium, net of premium allocation charges in your chosen fund(s) in the proportion you specify.

How is HDFC ProGrowth plus?

Income Fund: This HDFC Progrowth Plus fund has a moderate risk and return rating as the fund composition is between 80\% to 100\% in government securities, fixed income instruments and bonds. Of the remaining 0\% to 20\% are invested in money market instruments, cash, deposits and liquid mutual funds.

Is it possible to surrender HDFC Life Policy?

Surrender Policy Reason(s) for policy surrender and the surrender form needs to be submitted at the nearest HDFC Life Insurance branch, along with the following documents: Original policy documents. Canceled cheque with the policyholder’s name on it.

How can I surrender HDFC Life ProGrowth plus Policy?

In case you surrender the HDFC Life ProGrowth Plus Plan before the fifth policy year is complete, your total Fund Value excluding the relevant charges will be added to the (DPF) Discontinued Policy Fund and the takings from the same shall be payable post the lock-in period of the policy is completed.

What are the benefits of HDFC Life progrowth plus?

Valuable financial protection to your family in case you are not around. Opportunity to invest in a choice of funds. HDFC Life ProGrowth Plus is a regular premium unit linked insurance plan. In this plan you can choose your regular premium and the investment fund (s).

Why should you invest in hdhdfc SL progrowth plus ULIP?

HDFC SL ProGrowth Plus, this ULIP plan will help you to make the most of equities by channelizing your savings effectively. Valuable financial protection to your family in case you are not around. Opportunity to invest in a choice of funds.

What are the policy admin charges for HDFC progrowth plus?

The policy wordings state that the maximum amount that can be charged towards policy admin charges is 500 per month. By capping the premium amount, the company is ensuring that you’ll pay minimum charges of 6\% between the 6 th -10 th year. Here’s the table of charges – If you buy HDFC Progrowth Plus plan with an annual premium of 50,000.

How much should I invest in HDFC Life insurance policy?

For the said policy term, premium and Sum Assured, HDFC Life suggests (not assures) a fund value of ₹7.41 lakhs at maturity with a return rate of 8\% per annum. See the table below. As you can see, the premium amount ₹60,000 is not completely invested in the funds.