HDFC Life Protection Plan
Life protection plans are meant to provide protection for the expenses of the family after the earning member's death. They not only insure a secure future free of stress and tension but also create wealth which comes handy in the time of need. Therefore, HDFC has come out with various service protection plans, term life insurance, loan cover plans and home loan protection plans. These will take care of the worries related to the loans, debts and liabilities etc.
HDFC Terms Assurance Plan :
This plan works as per the pre decided lump sum amount decided by the insured. In case of unfortunate incident leading to permanent disability or death, the family is given a lump sum amount which helps in meeting the urgent needs and the future needs of the family. You have the flexibility to choose the sum assured. In case of the regular premium term, the amount of the premium remains the same. Thus a very high protection is provided at a very nominal cost.
HDFC Premium Guarantee Plan :
This plan has the dual advantage of the assured protection and the return of the premiums paid till maturity. Therefore, the financial stability is confirmed in case of sad demise of insured. However the premiums payback is also assured on the survival at maturity. Therefore, your premiums are yours at survival. This also provided you high cover at nominal cost. You have the flexibility to choose the sum assured and you will also get the tax deduction benefits under section 80C.
HDFC Loan Cover Term Assurance Plan :
This plan takes care of the loans and liabilities of the insured in case of sudden death or critical injury. As per this plan the sum assured for the loan keeps decreasing with term as the loan amount also decreases with person's life. You can also opt for the additional benefits at the nominal costs. You have the option of paying either the single premium or regular premiums. Not to forget the Tax benefits that comes along with this plan under section 80C. Therefore, you need not worry about your loan worries now and the additional burden on your family.
HDFC Home Loan Protection Plan :
As discussed earlier you need not worry about your loan liabilities in your life time or after death, this plan has been specially formulated for your home loan. This ensures that your sweet home stays with your family even if they are unable to pay the loan amount. This plan will repay your home loan in case of the sudden death. Sum assured keeps on decreasing with the term of the policy as the loan liability also decreases with time.