HDFC SL New Money Back Plan

In Money back plan, a portion of the sum assured will be returned in certain intervals.  HDFC SL New Money Back Plan is a traditional money back plan by the dearest Indian private insurance company. Choice of policy term is the attraction of this pan. If one cannot wait for a long time, he can choose the policy term of 12 years. Long term investors can select the policy term of 24 years.

It is a model traditional money back plans by HDFC Life. Both long term and short term financial goals can be achieved by this plan. Minimum age at entry is 14 years. Maximum age at entry is 53 years. Maximum age at maturity is 63 years. Simple revisionary bonuses are another attraction of this plan. Simple revisionary bonuses will be added annually. There will be discount on annual premium if the sum assured is above Rs 5 Lakhs. Premium can be paid annually, half yearly or quarterly according to the convenience of the customer. Sum assured plus attached bonuses will be the death benefit.

If it is a 12 year plan, 25% of the sum assured will be returned in the 4th and 8th policy years. 50% of sum assured plus attached bonuses will be returned at the end of the 12th policy year. If the policy term, is 16 years, 25% of the sum assured will be returned in the 4th, 8th and 12th policy years. 25% of sum assured plus attached bonuses will be returned at the 16th policy year. If it is 20 year term, the sum assured will be backed like this; 20% in the 4th year, 20% in the 8th year, 20% in the 12th year, 20% in the 16th year and the rest of 20% plus attached bonuses in the 20th year. If the policy term is 24 years, 15% of the sum assured will be returned in the 4th year, 15% in the 8th year, 15% in the 12th year, 15% in the 16th year, 15% in the 20th year and the 20% plus attached bonuses in the 24th year.

Let us take an example. A 20 year man should pay an amount of Rs 13484 for a 24 year policy term with a sum assured of Rs 200000/.  15% of the sum assured that means, Rs 30000 will be returned in the fourth policy year. The same amount will be returned in each four year up to 20th year. 25% of the sum assured that will be Rs 50000 plus attached bonuses will be returned at the 24th year.

2 Responses to HDFC SL New Money Back Plan

  1. chadalada .hiskiya says:

    I would like to know about this policy

  2. hiskiya says:

    i would like know about the policy .my age is 42 year old

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