HDFC Life Pragati Plan

Death Benefit

The death benefit is payable if the policyholder dies an unfortunate death during the policy term,the  death benefit is payable to the nominee provided the policy is premium paying.Death sum assured is higher of:

• Sum Assured on Death + Accrued Reversionary Bonus (if any) + Interim Bonus (if any) + Terminal Bonus (if any)
• 105% of Total Premiums paid

Auto Cover Continuance

Under this feature, for a lapsed/Paid-up policy, the full death benefit shall apply for two years or outstanding Policy Term, whichever is lower from the date of Paid-up/lapse.

Maturity Benefit

Maturity benefit is payable on  the survival of the Life Assured till the completion of the policy term. Provided all due premiums have been paid, the policyholder will receive the higher of :

• Sum Assured on Maturity + Accrued Reversionary bonus (if any) + Interim bonus (if any) + Terminal bonus (if any)
• 100 % of Total Premiums paid.

Bonus

The plan is eligible for the bonuses declared by the company.Interim bonus is payable wherever applicable.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.

No additional rider is available with this plan.