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
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?
In case of unfortunate death of the life insured, Sum Assured along with bonuses will be paid.
At the end of policy term, Sum Assured along bonuses will be paid.
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.
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