HDFC SL Crest Plan 2024 Benefits Features Details Reviews

HDFC SL Crest Plan – Welcome to the HDFC SL Crest Plan 2024! In this document, you’ll find key insights and information about the HDFC SL Crest Plan, which is our flagship retirement plan. You’ll also find out about our investment options and how to access our products. We hope that you find this document useful and that it helps you make the most of your retirement savings. Thank you for choosing HDFC!

You can withdraw your fund’s value over a period of up to five years in regular installments. The NAV, or net asset value, of the installments due on the specified date is subject to investment risk, meaning that it may rise or fall in proportion to the performance of the funds you select. Your cash will remain put resources into the assets picked by you and is dependent upon a similar venture gambles as during the strategy term. Risk cover will end, we will continue to deduct Fund Management Charge, and no other fees will be assessed during the Settlement period. Switches and partial withdrawals are not permitted during this time. During this time, it is possible to withdraw completely without incurring any costs.

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HDFC SL Crest Plan 2024

The HDFC Life SL Crest is a short-term Unit Linked Insurance Plan that offers market-linked returns to the insured within a short period of ten years. The insured’s family is also protected financially by the plan. The policyholder is expected to make payments on the policy for five years, and they can get returns for ten years. The policyholder has the option to invest in any of the four fund options provided by the plan. In addition, the insured can select a sum assured multiple between ten and twenty times the annualized premium. There is no maximum amount that can be paid for premiums under the policy. If necessary, HDFC Bank credit card holders can obtain the plan by paying EMIs. Credit card, check, internet banking, and an auto debit facility are all options for paying premiums.

Are you looking to invest in a property that will provide long-term stability and growth? If so, you should consider investing in HDFC SL Crest Plan 2024. This plan provides investors with access to high-quality properties in a variety of locations across the country. Plus, the plan offers attractive interest rates and generous break-even points, so you can be sure that you’re getting your money’s worth. So what are you waiting for? Get started today and see how HDFC SL Crest Plan 2024 can benefit you!

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HDFC SL Crest Plan

HDFC SL Crest Plan 2024 Details

Name Of ArticleHDFC SL Crest Plan 2024
HDFC SL Crest Plan 2024Click Here
CategoryInsurance
Official WebsiteClick Also

What is the Plan all About?

HDFC SL Crest is a unit-linked insurance plan that gives you 10 years to reach your investment goals. Only the first five years’ worth of premiums are required, and you can take advantage of market-linked returns for the entire policy term. Additionally, this plan offers life insurance protection, guaranteeing your family’s happiness even in your absence.

Eligibility – Who is the HDFC Life SL Crest Plan for?

If a customer meets certain age and protection requirements, they are eligible to purchase the HDFC Life SL Crest Plan. The following are the requirements for eligibility:

Minimum Entry Age14 years
Maximum Entry Age55 years
Maturity Age65 years
Policy Term10 years

Sum Assured and Premium Range – What you Get and What it Costs?

Sum Assured:

The sum assured varies as shown below:

Minimum Sum AssuredWhen entry age is below 45 years, 10 times the annualized premium When entry age is above 45 years, 7 times the annualized premium
Maximum Sum Assured20 times the annualized premium

For the first five years of the contract, there is no liquidity provided by the linked insurance products. The policyholder will not be able to withdraw any or all of the money they have invested in the linked insurance products during this time.

Premium:

The policyholder has the option of selecting the premium from the following table:

Minimum PremiumRs.50,000
Maximum PremiumNo limit
Premium Payment FrequencyAnnual
Premium Payment Term5 years

Plan Coverage  What the HDFC Life SL Crest Covers?

You can reap the advantages of investing in funds with a shorter horizon with the HDFC Life SL Crest Unit Linked Plan. The following are included in the HDFC Life SL Crest plan’s coverage:

Maturity Benefit 

At the end of the policy term, your policy will become vested, and the fund value on maturity day will be paid out. The following options for settlement are available to you:

  • Settlement option – You can decide to take your asset esteem over a time of 5 years in occasional portions. There are investment risks associated with the value of the installment paid on the specified date. The risk cover will end during the Settlement period. Nevertheless, the Fund Management Charge will continue to be deducted, and there will be no additional fees assessed. Switches and partial withdrawals will not be possible during this time. However, complete withdrawals are possible during this time period. The insurer will pay you the fund value and redeem the remaining units after five years at the current rates.
  • Death Benefit- The following is the definition of the death benefit that will be paid to the nominee in the event that the Life Assured passes away:

The greater amount from the following will be paid:

  • Sum Assured minus all withdrawals made within the two immediate years preceding the insured’s
  • death Total fund value The policy expires when the death benefit is paid out and no further benefits are due.

The payment will be made for the greater of the following:

  • Sum Assured minus all withdrawals made after 58 Total fund value
  • The policy terminates after the death benefit is paid and no further benefits are payable.
DeathDeath Benefit
Before 60 years of age
At or after 60 years of age

Partial Withdrawal –

After the policy has been in effect for five years, you can take a lump sum or part of your money out. This, however, is subject to:

  • The minimum withdrawal amount is Rs. 10,000.
  • After the withdrawal, the asset doesn’t go beneath the base worth of 150% of your ordinary premium.
  • During the policy’s term, the maximum amount that can be withdrawn is 300 percent of the regular premium.
  • The Life Assured has reached the age of 18 or older.

Also Read-IndiaFirst Life Insurance Premium Calculator Plan

Exclusions – What the HDFC Life SL Crest Plan doesn’t Cover?

The nominee will receive the fund value as of the date of the insured’s death if the insured commits suicide within a year of the policy’s start or of the date of revival. Any charges that are recuperated after the date of death will be payable to the chosen one alongside the passing advantage.

Other Key Features Freelook Period, Surrender Values, Grace Period etc.

Discontinuance:

This fund has an annual minimum guaranteed interest rate of 4%.However, this rate is subject to alteration in the future. The proceeds of a discontinued policy are due at the end of the lock-in period, which typically lasts five years, if it is not revived. The life insured can receive the proceeds either at the end of the revival period or at the end of the lock-in period if the revival period is longer than the lock-in period. The proceeds are distributed at the conclusion of the lock-in period in the event that the policyholder does not exercise any options.

Investment of Funds

With the help of the HDFC SL Crest plan, a policyholder can invest in the following funds:

Fund nameAsset ClassReturn & Risk rating
Money Market Instruments Cash & Liquid Mutual FundGovernment Securities, Fixed Income SecuritiesEquity
Income fund0% -20%80% 100%Moderate
Balanced fund0% -20%0% to 60%40% – 80%Moderate to high
Blue chip fund0% -20%80%- 100%Very high
Opportunities fund0%- 20%80%- 100%Very high

 Revival of Discontinued Policies

Within two years of the policy’s discontinuance, the policyholder has the option to reinstate it. During the revival:
It is recommended that all unpaid premiums be paid without interest.

  • The policy’s discontinuance will result in a refund of the charges for discontinuance.
  • The policyholder will choose one of the segregated funds from the proceeds in the discontinuance fund.
  • During the discontinuance period, premium allocation and policy administration fees will be assessed.

Free-Look Period:

Within 15 days of receiving the insurance policy, the policyholder has the option of returning it to the insurer if they do not agree with the terms and conditions outlined in the policy. Policies purchased through distance marketing have a 30-day free-look period. The insurer will make arrangements to reimburse the policyholder for the value of the units that were assigned to him or her once the insurer receives the returned policy from the policyholder along with all relevant documents. It is important to keep in mind that a returned policy cannot be restored or reinstated again.

Tax Benefits – How you can save with the HDFC Life SL Crest Plan?

Sections 80C and 10(10) of the Income Tax Act of 1961 provide tax benefits for premiums paid toward the HDFC Life SL Crest policy. However, these tax laws are subject to change, so you should check with your tax advisor for up-to-date information.

Other Benefits – How you can save with the HDFC Life SL Crest Plan?

In the financial year 2013-2014, 99.41% of claims were successfully honored thanks to HDFC Life. Additionally, the insurance company has a dedicated claims assistance line that assists customers throughout the process of filing a claim.

Why you should Buy the SL Crest Plan from HDFC Life?

In India, HDFC Life is a market leader in insurance solutions. They have 398 offices and 9,000 points of contact spread out across India. This guarantees that customers will always have access to their products. Additionally, HDFC Life has an excellent financial consulting division that provides customers in India and abroad with financial solutions.

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