logo


Knowledge Base Life Insurance Guaranteed Plan HDFC SL ClassicAssure Insurance Review
Tuesday, 11 October 2011 18:37

HDFC SL ClassicAssure Insurance Review

Written by  Yashish Dahiya
Rate this item
Rating 3.5 (6 Votes)

HDFC SL ClassicAssure Insurance Review


Plan Name: ClassicAssure

Insurer: HDFC Life Insurance Company Limited

Category: Traditional Plan

Objective: Financial protection of family and returns on investment


Major USP of HDFC SL ClassicAssure


Bonuses

Limited premium Pay term


Eligibility of HDFC SL ClassicAssure


Minimum Entry Age: 12 Years

Maximum Entry Age: 60 Years

Maximum Age at Maturity: 75 Years

Policy Term:  10, 15 or 20 Years

Premium Term: 7 Years

Minimum Premium: Rs 12,000 per annum

Premium Payment Mode: Yearly, Half Yearly, Quarterly or Monthly


What benefits does HDFC SL ClassicAssure offer?


Death benefit:

In case of unfortunate death of the life insured, Sum Assured along with bonuses will be paid.


Maturity Benefit:

At the end of policy term, Sum Assured along bonuses will be paid.


Discounts:

If opted for Sum Assured of INR 5 lacs or more, 5% discounts on premium will be made.


Are there any tax benefits?


Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.

Under Section 10(10D) death claim is completely tax free.


What else should I know about?


Surrender Value: The policy acquires guaranteed surrender value after 3rd policy year. The guaranteed surrender value will be equivalent to 50% of all premiums paid less the first years’ premium.


Free Look Period: ClassicAssure plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.


How can I buy HDFC SL ClassicAssure?


Policybazaar representatives will assist you in buying ClassicAssure.

 

Compare Returns in Guaranteed Plans!!

How much will you get?

get_quote

 

 

 

 

 

2 comments
  • Comment Link brojo Monday, 11 June 2012 19:03 posted by brojo

    HDFC SL ClassicAssure Insurance Plan.......Is dis plan worthy .....bank officials are saying it will be giving 12%......is this right?

  • Comment Link Administrator Wednesday, 13 June 2012 18:19 posted by Administrator

    Hi Brojo
    12% returns is not true. On maturity, you will get Sum Assured and bonuses.

Leave a comment