HDFC Life Capital Shield Plan

• Enjoy single or limited of 5 years premium payment
• Protect your investments from market risk
• Get Loyalty additions to enhance fund value
• Stay protected with life cover
• Avail Tax Benefits under the income tax rules

The plan works as per Capital Shield Management Strategy where 2 funds are available:

1. Capital Growth Fund: Equity oriented fund
2. Capital Secure Fund: Debt oriented fund

As a part of the strategy,a  portion of your money is invested in both the funds. The allocation percent will depend upon the age at which the policy is purchased and the chosen sum assured.

Death Benefit

In the event of death of the life assured while the policy is in-force, the nominee will receive the higher of Sum Assured, Fund Value or 105% of all the premiums paid. The policy terminates, after payment of Death Benefit.

Maturity Benefit

On survival of the life insured till the end of the policy term, the higher of fund value or Assured maturity benefit(101% * “Total Premiums” paid till date) less the Total Partial Withdrawals made till date (if any) is payable on the maturity date.

Loyalty Additions

Additional units will be added to the fund value from the end of 6th policy year in the following manner:

End of 6^th policy year: Loyalty Additions = 0.5% of average fund value

End of 7^th policy year: Loyalty Additions = 0.5% of average fund value

End of 8^th policy year: Loyalty Additions = 0.75% of average fund value

End of 9^th policy year: Loyalty Additions = 0.75% of average fund value

End of 10^th policy year: Loyalty Additions = 1.50% of average fund value

Switching

No switching is applicable under this plan.

Premium Re-direction

No Premium redirection is applicable.

Partial Withdrawal

Partial Withdrawal is allowed from 6^th policy year onwards wen the policy holder attains 18 years.Minimum Partial Withdrawal amount is Rs 10,000.

Bonus

This plan is not eligible for the bonuses.

Loan Benefit

No loan benefit can be availed under this plan.

Revival

You have an option to revive a discontinued policy within 2 consecutive years from the date of discontinuance of the policy. For the policy revival, you need to pay all due and unpaid premiums, as per underwriting policy.

Surrender Value

Upon surrendering the policy with-in the lock-in period of 5 years, the Fund Value less applicable discontinuance charges is credited to the ‘Discontinued Policy Fund’ and it is refunded upon completion of the lock-in period. The applicable fund management charge of the Discontinued Policy Fund is levied. The proceeds after addition of minimum guaranteed interest rate as stipulated by IRDAI is payable after the end of the lock-in period.

Upon surrendering the policy after the lock-in period of 5 years, the Fund Value as on the date of surrender is payable immediately and the policy then terminates.

No rider can be opted under this plan.

Premium Allocation Charges: For single pay policies, it is 3% of a single premium amount.For limited pay (Annual Mode policies) it is 9% (1^st year),7%(2^nd & 3^rd year) and 6% (4^th & 5^th year). For limited pay (Non-Annual Mode policies) it is 7% (1^st year),6%(2^nd & 3^rd year) and 5% (4^th & 5^th year).

Policy Administration Charge: For single pay policies it is  0.12% of single premium (1^st to 5^th policy year), 0.07% increasing at 5% per annum (6^th policy year onwards).For Limited pay plans, it is 0.39% per month of the annualized premium increasing at 5% per annum.

Investment Guarantee Charge: 0.50% of the fund value charged daily.

Mortality Charges: Mortality charge depends on age and level of cover. This charge is applicable for providing you with the risk cover.

Fund Management Charges: Fund management charge levied is a percentage of the Fund Value. It is 1.35% p.a. for all funds. This charge is subject to a maximum amount as allowed by IRDAI.

Partial Withdrawal Charge: 4 free partial withdrawals are allowed during a policy year. The subsequent partial withdrawal in the same policy year is charged with Rs 250 or Rs 25 when executed through the company’s portal.

All the charges mentioned above expect mortality charge may be revised, upon prior approval from IRDAI.

Tax benefits can be availed under section 80C & 10 (10D) under the Income Tax Act, subject to change in tax laws.