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HDFC Life ClassicAssure Plus is a participatory saving cum insurance plan that provides guaranteed benefits along with the growth of your money.The plan helps in meeting long term financial goals as well as creating a financial cushion to secure the happiness of your loved ones.
Get QuoteDeath Benefit
The death benefit is payable if the life insured dies during the term of the policy. The benefits payable to the nominee will be sum assured on death plus accrued simple reversionary bonus plus interim bonus plus terminal bonus.Death sum assured is higher of:
Maturity Benefit
Maturity benefit is payable on the survival of the Life Assured till the completion of the policy term. Maturity benefit is payable as a lump sum which is equal to the sum assured plus accrued simple reversionary bonuses plus interim bonus plus terminal bonus, if any.
Bonus
The plan is eligible for the bonuses declared by the company.A simple Reversionary Bonus which is declared at the end of each financial year and is payable either on death or on maturity, whichever event happens first.The plan offers minimum 3% guaranteed reversionary bonus.A Terminal Bonus may be added to a policy which depends on the actual future experience it is not a guaranteed benefit.
Loan Benefit
Loan facility is available under this plan. The policyholder can avail loan up to 80% of the Surrender Value subject to applicable terms and conditions.
Surrender Value
Guaranteed surrender value (GSV) plus the surrender value of the bonuses, which is a percentage of accrued bonuses is payable if at least three full years premiums have been paid. The GSV shall be a percentage of total premiums paid.
Tax Benefit
The plan offers tax benefits under section 80C and section 10 (10D) of the Income Tax Act, 1961.
| Factor | Minimum | Maximum |
| Age (as on last birthday) | 8 Years ( For 10 Year Policy Term) 3 Years ( For 1 | 55 Years ( For 10 Year Policy Term) 60 Years( For |
| Age at Maturity | 18 Years | 75 Years(for 15/20 Year Policy Term) 65 Years(for |
| Policy Tenure | 10/15 Years | 20 Years |
| Premium Paying Term | Limited Pay 7/10 Years | - |
| Premium Paying Mode | Annually,Semi Annually, Quarterly And Monthly | - |
| Premium Amount | Annual : Rs 12,000 Semi Annual: Rs 6,000 Quarterly: Rs 3,000 Monthly: Rs 1,000 | No Limit |
| Sum Assured | 49,447(for 10 Year Policy Term) 48,032 (for 15 Year Policy Term) 73.516 (for 20 Year Policy Term) | No Limit (Subject To Underwriting) |
| Freelook Period | 15 Days/ 30 Days (for Distance Marketing Channel) From The Receipt Of The Policy | - |
| Grace Period | 30 Days & 15 Days (for Monthly Mode) | - |
| Plan Type | Online | - |
Critical illness rider covering 19 critical illnesses is available with this plan.
Let us understand the plan with the case study of Rahul.
Scenario 1: If Rahul survives the policy term
Maturity benefit is payable as a lump sum which is equal to the sum assured of Rs 5 Lacs plus Sum Assured plus accrued simple reversionary bonuses plus interim bonus plus terminal bonus, if any.The policy terminates thereafter.
Scenario 2: If Rahul dies during the policy term
The benefits payable to the nominee (Rahul’s wife) will be sum assured on death (Rs 5 Lacs) plus accrued simple reversionary bonus plus interim bonus plus terminal bonus.
Death sum assured is higher of
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