HDFC Life Super Income Plan

• Regular income for 8 to 15 years after premium pay period
• Guaranteed Base Income payable each year during payout period
• Boost regular income at maturity
• Life insurance coverage
• Flexibility to choose premium payment term and policy term
• Rebate on opting sum assured of Rs 4 lacs & above
• Loan facility against the policy
• Hassle-free issuance of the policy
• Avail tax benefits

Death Benefit

In the event of death of the life insured, the Death Benefit payable is higher of Sum Assured on Death + Accrued Reversionary Bonuses + Interim Bonus + Terminal Bonus or 105% of premiums paid (till the date of death).

Here Sum Assured on Death is higher of Sum Assured on Maturity or multiple of annualized premium. Multiple of annualized premium is 10 times for entry age up to 50 years and it is 7 times for entry age more than 50 years.

In case of death of the life insured during the payout period, the Death Benefit is not reduced by the survival benefits already paid. The policy terminates after payment of the death benefit and no future payouts is then payable.

Maturity Benefit

On survival of the life Insured till the end of the policy term, the Maturity Benefit payable is the aggregate of Last Guaranteed Base Income payout, Accrued Reversionary Bonuses, Interim Bonus, and Terminal bonus.

After payment of the maturity benefit, the policy gets terminated and no future payouts is then payable.

Guaranteed Base Income

Guaranteed Base Income (GBI) is a percentage of the Sum Assured on Maturity and it is payable at the end of each year during the payout period. Annual GBI is 12.5%/10%/12%/10%/10%/8% and the total GBI for the entire payout period is 100%/100%/120%/120%/120%/120% for option 1/ option 2/option 3/option 4/option 5/option 6, respectively.

You can also receive this payout as monthly payout, which is 8% of the annual payout.

Bonus

Simple Reversionary Bonus is a percentage of the Sum Assured on Maturity and it is declared at the end of each financial year. When added to the policy, it is payable as guaranteed benefit to be payable on maturity. Reversionary bonus is not a guaranteed benefit and it depends on the actual experience with respect to the investment return, mortality, expenses, etc.

In the event of surrender or death during the inter-valuation period, the interim bonus is payable depending on the bonus rates as declared by the company.

Terminal bonus is payable at the end of the policy term. It is a non-guaranteed benefit and it depends on the actual future experience.

Loan Benefit

You can avail loan amount up to a maximum of 80% of the acquired Surrender Value.

Surrender Value

The policy can acquire a Guaranteed Surrender Value after payment of all due premiums for the at least 2 full policy years, for premium payment term of 8 years. The Guaranteed Surrender Value can be acquired after payment of all due premiums for the at least 3 full policy years, for premium payment term of 10 & 12 years.

Tax Benefit

This policy provides tax benefits for premiums paid under section 80C & the benefits received is eligible for tax benefits under section 10 (10D) of the Income Tax Act, 1961.

Following riders can be opted, on payment of additional rider premium:

• HDFC Life Income Benefit on Accidental Disability Rider
• HDFC Life Critical Illness Plus Rider

Raman at 30 years, wants to buy HDFC Life Super Income Plan to get regular money backs along with life protection. He opts the plan with the policy term of 16 years, premium paying term of 8 years, Sum Assured on Maturity is Rs 1,50,000.

Scenario A: Raman Survives the Policy Term

If Mr. Raman survives till the maturity of the policy term, he receives the aggregate of Last Guaranteed Base Income payout, Accrued Reversionary Bonuses, Interim Bonus, and Terminal bonus.

Scenario B: Raman dies during the Term of the Policy

In the event of demise of Mr. Raman during any policy year, the nominee will receive higher of Sum Assured on Death + Accrued Reversionary Bonuses + Interim Bonus + Terminal Bonus or 105% of premiums paid.

Benefit Illustration: