HDFC Life Pro Growth Flexi Plan
HDFC Life Pro Growth Flexi Plan is a Unit Linked Insurance Plan (ULIP). Thus, it is a non-Traditional Insurance
Plan without Bonus facility.
How it works – In this plan, premium needs to be paid till the end of the Policy Tenure. However, there is an
option of Limited Premium Payment facility provided the first 5 years premiums have been paid.
Minimum Premium Paying Term
15 years +
There are 5 funds for investment purpose where the policyholder can choose his portfolio depending upon his
In this Plan, there are 2 variants:
- Life Option- This is the Basic version of the Plan without additional features
- Extra Life Option- In this variant of the plan, an inbuilt Accidental Death Benefit rider. Thus, if this
variant is selected and the Life Insured suffers from an Accidental Death, then an additional Sum
Assured is paid to the nominee as Accidental Death Benefit.
In this plan, if the Life Insured dies within the Policy Tenure, then higher of the Sum Assured or the Fund Value
is paid to the nominee as Death Benefit and the policy terminates. However, if the Life Insured meets with an
accidental death and had opted for Extra Life Option, then he would an additional Sum Assured as Accidental
On maturity, the Fund Value is paid to the policyholder as Maturity Benefit.
Why you need this Plan ?
PLAN BIG FOR YOUR LOVED ONES AT LOWEST COSTS
It is a simple Unit Linked Insurance Policy without Bonus Facility
There are 2 variants of this plan
- Life Option- Only Death Benefit
- Extra Life Option- Death Benefit + Accidental Death Benefit
Higher of Sum Assured or Fund Value is paid to the nominee as Death Benefit
If the Life Insured meets with an accidental death and had opted for Extra Life Option, then he would
an additional Sum Assured as Accidental Death Benefit.
There are 5 funds for investment purpose
The Fund Value is paid as Maturity Benefit
There is an option of Limited Premium Payment provided at least 5 years premium has been paid
Death Benefit – In case of death of the Life Insured within the Policy Tenure, the nominee gets higher
of Sum Assured or Fund Value as Death Benefit and the policy terminates.
Maturity Benefit – The Fund Value is paid as Maturity Benefit on the policy maturity
Income Tax Benefit – Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction
from the taxable income each year under section 80C and the Maturity Proceeds are tax free under
section 10(10)D subject to fulfilment of terms and conditions.