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HDFC Life Group Unit Linked Future Secure Plan
HDFC Life Group Unit Linked Future Secure Plan
UIN: 101L185V02Enable corpus creation and manage liabilities for the different scheme benefits.
Choice of extra allocation for 1st policy year contributions
Large fund additions for contributions greater than or equal to Rs. 1 Crore
Control over the investments by the policyholder by unlimited switches
Unique features offered under HDFC Life Group Unit Linked Future Secure Plan:
A Non-Participating Group Unit Linked Life Insurance Plan
Flexibility of paying contributions/premiums by the master policyholders into the scheme.
Choice of extra allocation for the contributions in the 1st policy year.
Market linked investment with capital guarantee return1.
In built Sum Assured of Rs. 10,0002.
Flexibility of paying contributions/premiums by the master policyholders into the scheme.
Choice of extra allocation for the contributions in the 1st policy year.
Market linked investment with capital guarantee return1.
In built Sum Assured of Rs. 10,0002.
Benefits under this Plan:
The benefits offered to the scheme members vary according to the investment plan option.
- Option A – Market Linked
- Option B – Market Linked with Guaranteed Benefits
Option A – Market Linked
Death Benefit
-
For Defined Benefit Schemes, on the death of a scheme member, an amount calculated as per the scheme rules will be paid by cancellation of units at the prevailing NAV. This benefit will be subject to a maximum of the funds in the policy available at the day the benefit is payable.
-
For Defined Contribution Schemes, member fund value shall be payable.
In addition to the above, a one-time sum assured of Rs. 10,000 will be paid for Non Superannuation Schemes like Gratuity Schemes, Leave Encashment Schemes, PRMS and other Benefit Schemes such as Benevolence Schemes. No sum assured will be paid for Superannuation Schemes.
Maturity Benefit
-
There will be no benefit payable on maturity.
Benefits on Scheme Member’s exit from the employer’s service due to retirement/resignation or termination
-
For Defined Benefit Schemes, an amount calculated as per the scheme rules will be paid by cancellation of units at the prevailing NAV. This benefit will be subject to a maximum of the funds in the policy available at the day the benefit is payable.
For Defined Contribution Schemes, member fund value shall be payable.
-
Benefits in Accordance with the Scheme Rules
The below benefits are applicable on occurrence of events (covered under scheme rules) where a benefit payment other than the ones mentioned above is required:
-
For Defined Benefit Schemes, an amount calculated as per the scheme rules will be paid by cancellation of units at the prevailing NAV. This benefit will be subject to a maximum of the funds in the policy available at the day the benefit is payable.
-
For Defined Contribution Schemes, member fund value shall be payable.
Survival Benefit
-
There will be no benefit payable on the survival of the scheme member.
Check your eligibility
Before buying HDFC life Group Unit Linked Future Secure Plan.
ELIGIBILITY CRITERIA
Parameters | Minimum | Maximum | |
|---|---|---|---|
Age at Entry (last birthday) | 18 years | 75 years | |
Policy Term | 1 year (Annually renewable) | Policy to continue indefinitely on an annually renewable basis until either the master policyholder wishes to surrender the policy or the membership term of existing members has expired and there are no new members | |
Premium Payment Term | Single Pay | There is no contractual regular premium commitment since premiums payment will be based on the funding requirements of the scheme. Additional premium in the form of Top-up premium(s) can be paid, subject to the funding requirement. | |
Premium | Defined Benefit Schemes: Rs. 1,00,000 per policy Defined Contribution Schemes: Rs. 500 per member and Rs. 1,00,000 per policy | No Limit | |
Minimum Sum Assured/Annuity p.a. per Scheme Member | Non Superannuation Schemes | Rs. 10,000 | |
Superannuation Schemes | NIL | ||
Maximum Sum Assured/Annuity p.a. per Scheme Member | Non Superannuation Schemes | Rs. 10,000 | |
Superannuation Schemes | NIL | ||
Maturity Age (last birthday) | 19 years | 85 years | |
All ages are calculated as at last birthday. Risk cover starts from date of commencement of policy for all lives.
HDFC Life Group Unit Linked Future Secure Plan (UIN: 101L185V02) is a Non-Participating Group Unit Linked Insurance Plan. Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. HDFC Life Insurance Company Limited is only the name of the Insurance Company, HDFC Life is only the name of the brand and HDFC Life Group Unit Linked Future Secure Plan (UIN: 101L185V02) is only the name of the unit linked life insurance contract. The name of the company, name of the brand and name of the contract does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.
T&C
- This is optional on contributions made net of benefit payments subject to a waiting period of 2 years.
- In addition to the death benefit in the investment option selected for Non Superannuation Schemes.
ARN - PP/10/24/16117
