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HDFC SL Crest is a unit linked insurance plan that helps attain your investment goals in a short period of 10 years. You only need to pay premiums for the first 5 years and avail market linked returns for the entire policy term. This plan also provides life insurance protection that secures happiness of your family, even in your absence.
Get QuotesThis policy offers 4 investment funds and you have the option to invest in any one or combination of fund options.
In the event of death of the life assured while the policy is in-force, the nominee will receive the higher of Sum Assured (less partial withdrawals#) or the Total Fund Value.
The minimum Death Benefit is at least 105% of all the total premiums paid.
#Before age 60 years of the life assured, the Sum Assured is reduced to the extent of Partial Withdrawals made during the last two years prior the date of death. Upon or after attaining 60 years of age, the Sum Assured is reduced to the extent of all Partial Withdrawals made after attaining 58 years of age.
On survival of the life insured till the end of the policy term, the Total Fund Value as prevailing on the date of maturity is payable. You can receive this benefit as a lump sum or in installments by opting ‘Settlement Option’.
On maturity, you can opt to receive your money in installments over a maximum period of 5 years, after the date of maturity. It provides you an option to remain invested in the funds beyond maturity of the policy. You also have the option to completely withdraw the fund value at any time during the settlement period. No life cover is applicable during this settlement period. Partial withdrawals and switches are not allowed during the settlement period. Only fund management charge is levied during the settlement period.
Non-Negative Claw Back Additions to the fund before payment of benefits to ensure compliance with the reduction in yield as per Regulation 37(d) of IRDA (Linked Insurance Products) Regulations, 2013.
Switching can be done among 4 available fund options to suit your changing investment needs and it can be exercised anytime during the policy term.
Premium Re-direction facility is available to alter future premium allocation and it will apply to your subsequent premiums.
Partial Withdrawal is allowed from 6th policy year onwards and in case of minor lives, the life assured attains 18 years. The minimum partial withdrawal amount allowed is Rs 10,000. The minimum Fund Value required after each such withdrawal should not fall below 150% of the original regular premium. The maximum withdrawals that can be done through the entire policy term is 300% of the original regular premium.
This plan is not eligible for the bonuses.
No loan benefit can be availed under this plan.
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.
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.
| Factor | Minimum | Maximum |
| Age (as on last birthday) | 14 Years | 55 Years |
| Age at Maturity | - | 65 Years |
| Policy Tenure | 10 Years | - |
| Premium Paying Term (PPT) | 5 Years | - |
| Premium Paying Mode | Annually Only | - |
| Premium Amount | Rs 50,000 | No Limit |
| Sum Assured | Age At Entry Less Than 45 Years- 10 Times The Annualized Premium Age At Entry 45 Years & Above- 7 Times The Annualized Premium | 20 Times The Annualized Premium |
| Freelook Period | 15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy | - |
| Grace Period | 30 Days | - |
| Plan Type | Online | - |
No rider can be opted under this plan.
Premium Allocation Charges: The premium allocation charge as 4%/3%/2% for 1st & 2nd policy year/3rd policy year/4th & 5th policy year, respectively.
Policy Administration Charge: The policy administration charge as 0.31% per month of the annual premium is deducted monthly. It increases @5% on every policy anniversary, with a cap of Rs 500 per month.
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.
Discontinuance Charge: This charge is levied, in case the policy is discontinued during the first 4 policy years. This charge is levied as applicable under the policy terms & conditions. For more details, please refer the policy brochure.
Switching Charge: A fund switch request is levied with Rs 250 or Rs 25 when executed through the company’s portal.
Premium Re-direction: A premium re-direction request is levied with Rs 250 or Rs 25 when executed through the company’s portal.
Partial Withdrawal Charge: A partial withdrawal request is levied with Rs 250 or Rs 25 when executed through the company’s portal.
Miscellaneous Charges: Any policy alteration request request attracts a charge of Rs 250 per request. Any administrative servicing would be chargeable, subject to approval from IRDAI.
Tax benefits can be availed under section 80C & 10 (10D) under the Income Tax Act, subject to change in tax laws.
Mr. Ajay aged 36 years, opts for HDFC SL Crest with the policy term of 10 years, premium payment term of 5 years, annual premium of Rs 1,00,000 and sum assured of Rs 10,00,000.
Scenario A- Maturity Benefit: In case of his survival till maturity of the policy, the Total Fund Value as prevailing on the date of maturity is payable. You can receive this benefit as a lump sum or in installments by opting ‘Settlement Option’.
Scenario B- Death Benefit: In the event of his death during the policy term, the nominee will receive the higher of Sum Assured (less partial withdrawals) or the Total Fund Value.
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