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HDFC Term With Return Of Premium

HDFC Life Term with Return of Premium Plan provides life cover at affo ...Read More

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🛡️ IRDAI Approved
⭐ 4.6/5 · 924 reviews
📊 1.94 solvency ratio
✅ 99.68%% claim settlement ratio
🌐 450++ pan-India

About HDFC Term With Return Of Premium

A quick read on what this HDFC Term Insurance term plan covers and why it might be a fit for you.

HDFC Term with Return of Premium Plan offers comprehensive protection, which helps the insured secure their family with Zero-Cost Term insurance, as the base premium is returned. This non-linked and non-participating saving life insurance plan ensures financial security for your family. The plan includes many features, such as the ability to get insurance coverage without medical tests, a return of the total premium paid upon policy completion, and flexible premium payment options. A person aged between 18 to 50 years can buy the plan and avail of sum assured options from ₹5 Lakh to ₹25 Lakh.

HDFC Term Insurance Plan with Return of Premium offers a range of benefits, including:

  • Life Cover Without Medical Tests
  • Premium Discount for Female
  • Multiple Premium Paying Terms
  • Tax Benefits as per prevailing tax laws
  • Affordable Premiums
  • Return of Premium Benefit

Eligibility Criteria for HDFC Term With Return Of Premium

Entry age
Entry age
Minimum Age - 18 years Maximum Age - 50 years
Maturity age
Maturity age
Maximum Maturity Age - 85 years
Policy term
Policy term
Minimum term - 10 years Maximum term - 30 years
Sum assured
Sum assured
Basic Sum Assured: Rs. 10 Lakhs to 25 Lakhs
Policy loan
Policy loan
The policy loan is not available under HDFC Term With Return Of Premium Plan.
Payment Modes
Payment Modes
Yearly

Pros & cons

A quick honest summary — the strengths and the trade-offs.

Pros

  • Premium Payment Options
  • Guaranteed Sum Assured
  • Tax Benefits on Premiums and Maturity Benefit

Cons

  • No Discount on Limited Pay
  • No Riders Available
  • No Policy Loan

Video reviews

Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.

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Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

Minimum Entry Age: 18 years
Maximum Entry Age: 50 years
Minimum Sum Assured: ₹10 Lakhs
Maximum Maturity Age: 65 years
Premium Payment Term: Limited Pay / Regular Pay

How Does HDFC Term Plan With Return Of Premium Plan Work?

Let's understand how the HDFC Return Of Premium Plan works with a simple premium illustration.

Problem

Mr. Aman is a 30-year-old non-smoker earning ₹10 Lakhs annually and looking for a simple term plan that provides a return of premium option.

Solution

His financial advisor advised him to buy the HDFC Term Plan With Return Of Premium Plan. He visited PolicyX.com.

Let's understand how the HDFC Term Plan With Return Of Premium Plan works for him with a premium illustration table.

Age of policyholder: 30 years

Monthly Premiums: ₹684/month

Annual Premiums: ₹8,208/year

Policy Tenure: 30 years

Total premiums paid: ₹2,46,240

Sum assured: ₹25 Lakhs

Key Takeaways:

If Mr. Aman dies during the policy tenure, his family will receive ₹25 Lakhs as a death benefit from the insurer. If he outlives the policy tenure, he'll get back the premium paid towards the policy at maturity.

Riders Associated with HDFC Term with Return of Premium Plan

You can add the following riders to your HDFC Term with Return of Premium Plan:

Accidental Death Benefit Rider

Get an extra payout on top of the base cover on accidental death.

Accidental Total & Permanent Disability Benefit Rider

Get an extra payout on top of the base cover on total and permanent disability due to an accident.

Critical Illness Benefit Rider

Get additional coverage if you are diagnosed with a pre-specified critical illness.

Waiver of Premium Rider

In this rider, your future premium will be waived if you become disabled or seriously ill and are unable to work.

Features of HDFC Term With Return Of Premium

Key features that make HDFC Term With Return Of Premium stand out.

Policy Term Options

HDFC Term Life Insurance With Return Of Premium assures the policyholder that the premiums paid will be returned upon policy completion.

Premium Payment Mode

Premiums are paid on an annual basis. This means that the individual only has to manage their premium payments annually, allowing ample time to save.

Reduced Paid-Up Benefit

After paying premiums for 2 full years, if subsequent premiums are not paid and the policy is not surrendered, it becomes a reduced paid-up policy.

Benefits of HDFC Term With Return Of Premium

Here are the key benefits of the HDFC Term With Return Of Premium.

No Medical Test Required

This plan offers insurance coverage without requiring you to undergo medical tests, making it accessible and convenient.

Return of Total Premiums Paid

At the end of the policy term, 100% of the total premiums are returned to the policyholder, providing a saving factor to the plan.

Tax Benefit

HDFC Return of Premium Term Plan offers a tax benefit of up to ₹1.5 Lakh, under section 80C of the Income Tax Act 1961, for the premium paid under the same financial year.

Flexible-Premium Payment Options

The insured has the flexibility to choose between two premium payment options: Limited Premium, where you pay for 5 years, or Regular Premium, where you pay for the entire policy term.

Sum Assured On Death

The plan provides a death benefit that is higher than various options, including the absolute amount assured, 105% of the total premiums paid, 'X' times the annualized premium, or the sum assured on maturity.

Large Sum Assured Discount

Get an additional discount on premium for a high sum assured.

Exclusions of HDFC Return of Premium Plan

Here is the list of exclusions associated with the plan:

  • Death due to a pandemic is not covered.
  • Death caused by adventure sports.
  • Death due to consumption of drugs and alcohol.
  • Death due to any pre-existing disease not declared at policy inception.
  • If the policyholder commits suicide within the first 12 months of purchasing the policy, no death benefits are paid to the nominee.

Conclusion

Term plan with return of premium HDFC is an affordable insurance option providing both protection and return of premium paid upon policy completion. It offers flexibility in premium payments and is suitable for individuals aged 18 to 50 years. If you have doubts or queries regarding the HDFC Life term plan with return of premium, you can contact us through the website policyx.com or at 1800-4200-269.

Conclusion

Term plan with return of premium HDFC is an affordable insurance option providing both protection an

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HDFC Term With Return Of Premium: FAQs

The 3 most-asked questions about HDFC Term With Return Of Premium, answered.

Yes, you cannot get the plan without undergoing medical tests.
No, this plan does not provide any rider benefit.
Yes, the plan provides a guaranteed surrender benefit.

Written and reviewed by

PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.

Written by Naval Goel — Founder & CEO, PolicyX.com Reviewed by Manoj Kumar — IRDAI-certified Health Insurance Specialist
Last updated: 19 Sep 2023 · Originally published: 8 Oct 2024

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