Insurance

What is HDFC Life Super Income Insurance Policy?What are The Key Features Of Super Income Insurance Plan?

adminComments(2,593)

HDFC Life Super Income Plan is a participating plan that offers guaranteed income for a period of 8 to 15 years. It also offers an opportunity to participate in the profits of participating fund of the company by way of bonuses. The plan is ideal for individuals who need regular income at their disposal so that they don’t have to worry about future expenses and fulfil their financial goals uninterrupted.Enjoy regular income for period of 8 to 15 years after premium payment term under limited pay option 2. Enjoy regular income from 2nd policy year onwards till the end of Policy Term under single pay option 3. Survival Benefits varying from 3.84% to 12.5% of Sum Assured on Maturity payable each year during payout period.

“Boost your regular income at maturity with reversionary bonuses and terminal bonus*, if any. 5. Range of premium payment and policy term options to meet your income goals. Insurance coverage throughout the policy term This plan is available with a Short Medical Questionnaire (SMQ) based underwriting.”

For Limited Premium Policies:

How much do you get ? Your Total Survival Benefit payouts will be 100% or 120% of Sum Assured on maturity. in addition get bonuses at maturity . Survival Benefit payouts of 6.67 % to 12.5% of Sum Assured on Maturity payable each year . Accrued reversionary bonuses attached to your policy every year + Terminal bonus, if any, paid on maturity

For Single Premium Policies:

How much do you get ? Your Total Survival Benefit payouts will be 100% of Sum Assured on maturity. In addition get bonuses at maturity . Survival Benefit payouts of 100 % of Sum Assured on Maturity divided by Payout period shall be payable each year. Accrued reversionary bonuses attached to your policy every year + Terminal bonus, if any, paid on maturity.

a) Survival Benefit: It will be expressed as percentage of the Sum Assured on Maturity. This guaranteed amount is known to you at the inception and payable at the end of each year during the payout period as per your chosen plan option, provided the policy is in force

The policyholder has an option to receive the future payouts monthly instead of yearly. In such cases, the monthly payout shall be 8% of the annual payout.

b) Maturity Benefit: For a policy where all due premiums have been paid, the maturity benefit will be the aggregate of: 1. Last Survival Benefit payout, 2. Accrued Reversionary Bonuses, 3. Interim Bonus, if any 4. Terminal bonus, if any On payment of the Maturity Benefit, the policy will terminate and no more benefits will be payable. In cases where Life Assured is minor, the policy will automatically vest on him or her on attaining age 18 years.

c) Bonuses: I. Reversionary Bonus: A simple Reversionary Bonus would be declared at the end of each financial year. Same will be expressed as percentage of the Sum Assured on Maturity. Once added to the policy, the bonus is guaranteed to be payable on maturity, provided all due premiums are paid. The Reversionary Bonus is not a guaranteed benefit and would depend on the actual experience with respect to the investment return, expenses, mortality, tax etc and would be declared keeping in mind a long term view of expected future experience. In case of death or surrender during the inter-valuation period the policy will be eligible to receive the interim bonus based on the bonus rates declared by the company. II. Terminal Bonus : A Terminal Bonus may be added to a policy and enables the company to pay a fair share of the surplus provided all due premiums are paid, based on the actual experience over the policy term and allowing for the reversionary bonuses already attached. As the Terminal bonus depends on the actual future experience it is not a guaranteed benefit.

d) Death Benefit: On death of the life assured during the term of the policy, provided all due premiums are paid; we would pay to the nominee the higher of the following: • Sum Assured on Death + Accrued Reversionary Bonuses + Interim Bonus (if any) + Terminal Bonus (if any) • 105% of total premiumspaid^ till date Where, the Sum Assured on Death shall be the higher of: • Sum Assured on Maturity # • 10 times Annualised Premium /Single Premium for entry age up to 50 # years and 7 times Annualised Premium for entry age greater than 50 years On death of the life assured during the payout period, the Death Benefit payable shall not be reduced by the survival benefits already paid. # Annualised premium shall be the premium amount payable in a year excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. ^ Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes. On payment of the Death Benefit during the policy term, the policy will terminate and no future payouts will be payable.

admin

Related Articles
Insurance

The government aims to plan country’s insurance industry to reach its highest by 2027

admin

Insurance one of the most commonly requirement of an every individual, India’s life insurance industry is expected to grow at a compound annual growth rate (CAGR) of 10.9% through 2026, driven by growing awareness and positive regulatory landscape and in terms of gross written premiums. In 2022, many financial analysts stated that ages between 18 […]
Insurance

For insurance policy holders and borrowers,Online instant loan application platform PSB Loans eyes increases half of per cent in disbursements to more than billion

admin

Digital lending platform Online PSB Loans (OPL), which gives instant loan approval scheme, is expected to reach Rs 1,00,000 crore loan disbursements by the end of current financial year 2022-23, an increase of 50 percent in the next eight months, its Managing Director and CEO Jinand Shah told to a financial organization. According to the […]
Insurance

City Union Bank partners with Aditya Birla Health Insurance, Royal Sundaram General Insurance to distribute widely health insurance plans to more extent

admin

City Union Bank (CUB) and Aditya Birla Health Insurance have announced in front of a media to collaborate for distribution of health insurance products through the bank’s network. While this is the 14th agreement by Aditya Birla Health Insurance with a bank for the with a worthy partnership, City Union Bank has already entered into […]

2,593 thoughts on “What is HDFC Life Super Income Insurance Policy?What are The Key Features Of Super Income Insurance Plan?”

  73. Pingback: bahis siteleri
  91. Pingback: 1unrelated

  416. After going over a handful of the blog articles on your web site, I seriously like
    your way of writing a blog. I book-marked it to my
    bookmark site list and will be checking back soon. Please
    visit my website too and tell me how you feel.

    Reply

  417. Oh my goodness! Impressive article dude! Thanks, However I am experiencing problems with your RSS.
    I don’t understand why I can’t subscribe to it.
    Is there anyone else getting identical RSS problems?
    Anyone who knows the solution will you kindly respond?
    Thanx!!

    Reply

  426. Thanks , I’ve recently been searching for info about this subject for ages and yours is the
    greatest I have came upon till now. But, what about the bottom line?

    Are you certain concerning the supply?

    Reply

  427. Link exchange is nothing else but it is only placing the other person’s webpage link on your page at proper place and other person will also
    do similar in favor of you.

    Reply

  436. Greetings from Los angeles! I’m bored to tears at work
    so I decided to check out your blog on my iphone during lunch break.
    I really like the knowledge you provide here and can’t wait to
    take a look when I get home. I’m surprised at how
    fast your blog loaded on my cell phone .. I’m not even using
    WIFI, just 3G .. Anyhow, amazing site!

    Reply

  445. Hello, I think your blog might be having browser compatibility issues.
    When I look at your website in Opera, it looks fine but
    when opening in Internet Explorer, it has some overlapping.
    I just wanted to give you a quick heads up! Other then that, terrific blog!

    Reply

  455. Terrific article! That is the type of information that are supposed to be shared across the web.

    Shame on the search engines for no longer positioning this
    submit upper! Come on over and discuss with my site .
    Thank you =)

    Reply

  458. I’ll immediately grab your rss as I can’t in finding your email subscription link or newsletter service.
    Do you have any? Please permit me understand so that I may subscribe.
    Thanks.

    Reply

  459. Greetings! I know this is kind of off topic but I was wondering if you knew where I could get a captcha plugin for my
    comment form? I’m using the same blog platform as yours
    and I’m having problems finding one? Thanks a lot!

    Reply

  470. Pretty nice post. I just stumbled upon your weblog and
    wanted to say that I have truly enjoyed surfing around your
    blog posts. After all I’ll be subscribing to your
    rss feed and I hope you write again soon!

    Reply

  475. I like the valuable information you supply to your articles.
    I’ll bookmark your weblog and test once more here regularly.

    I am reasonably certain I will be told many new stuff proper here!
    Best of luck for the following!

    Reply

  483. We are a gaggle of volunteers and starting a new scheme in our community.

    Your website provided us with valuable information to work on. You have done a
    formidable process and our whole community might be thankful
    to you.

    Reply

  485. Wonderful work! This is the kind of info that are meant to be shared around the internet.
    Disgrace on the search engines for no longer positioning this submit higher!
    Come on over and discuss with my site . Thanks =)

    Reply

  489. Hi there, i read your blog occasionally and i own a similar one and i was just curious if you get a lot of spam comments?
    If so how do you prevent it, any plugin or anything
    you can recommend? I get so much lately it’s driving me
    crazy so any support is very much appreciated.

    Reply

  493. I’m curious to find out what blog system you have been working with?
    I’m having some small security issues with my latest website
    and I’d like to find something more risk-free. Do you have any recommendations?

    Reply

  496. hey there and thank you for your info – I have certainly picked up something new
    from right here. I did however expertise a few technical points using this site,
    as I experienced to reload the website many times previous to I could
    get it to load correctly. I had been wondering if your web hosting is OK?
    Not that I’m complaining, but slow loading instances times
    will very frequently affect your placement in google and could
    damage your quality score if ads and marketing with Adwords.
    Well I am adding this RSS to my email and can look out for much more of your respective exciting
    content. Make sure you update this again very soon.

    Reply

  499. Hiya very cool website!! Man .. Excellent .. Wonderful ..
    I will bookmark your site and take the feeds
    additionally? I am happy to search out a lot of helpful
    info right here within the put up, we’d like work out more techniques
    on this regard, thanks for sharing. . . . . .

    Reply

  516. Hi there! Do you know if they make any plugins to
    assist with SEO? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good results.

    If you know of any please share. Appreciate it!

    Reply

  525. Today, I went to the beachfront with my kids. I found a sea shell
    and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She put the shell to her ear and screamed.
    There was a hermit crab inside and it pinched her ear.

    She never wants to go back! LoL I know this is totally off topic but
    I had to tell someone!

    Reply

  530. After checking out a few of the articles on your web
    page, I truly appreciate your way of writing a blog.
    I book-marked it to my bookmark site list and will be checking back soon. Take a
    look at my website as well and tell me your opinion.

    Reply

  535. Hey! This is kind of off topic but I need some guidance from an established blog.

    Is it difficult to set up your own blog? I’m not very techincal
    but I can figure things out pretty fast. I’m thinking about making my own but I’m not sure where to start.
    Do you have any points or suggestions? Appreciate
    it

    Reply