Understanding ULIPs In HDFC

Updated On Nov 16, 2021

Understanding ULIPs In HDFC
Conclusion

HDFC Life's Unit Linked Insurance Plans (ULIPs) combine investing and insurance benefits for a single, low payment. When a person purchases a ULIP, a portion of the payment is used to provide insurance coverage for the person covered, while the remainder is invested in stocks. Applicants can select programs based on their financial objectives and risk tolerance.

Unit-Linked Insurance Plans from HDFC Life have a lot of advantages:

HDFC Life's Unit Linked Insurance Plans combined life insurance and investment incentives for policyholders.
A wide range of investment and protection solutions are offered to meet the demands of a diverse group of investors.
HDFC Life has a variety of payment options, including monthly, quarterly, yearly, half-yearly, and single payment options.
The funds will be repaid to the person who purchased the policy when it reaches its maturity date.
As long as a little cost is paid, you have the option to vary the premium payment cycle.

Understanding ULIPs In HDFC

Below are a few ULIPs in HDFC:

1. HDFC Life Click2Invest

Click2Invest is an online-based ULIP that predominantly invests in B-fund alternatives and gives market-related returns. This plan is designed to provide financial security to the policyholder and their family while also serving as a suitable investment choice.

HDFC Life Click2Invest plan features and benefits include:

There are a total of 8 funds available in the plan, each with a distinct risk and return rating.
The duration of a policy might range from 5 to 20 years.
Customers have three premium payment options to choose from: single, regular, and limited (5, 7, and 10 years).
Section 80C and Section 10 (10D) of the Income Tax Act provide tax benefits.

2. HDFC Life SL Crest

The Life SL Crest is a short-term unit-linked plan that lets people reach their financial goals in ten years while also protecting them from unanticipated events.

The HDFC Life SL Crest plan has the following features and benefits:

This plan gives you the option of paying a premium for a limited time.
Income, Balanced, Blue Chip and Opportunities Fund are the four types of funds available under the plan.
A payout of up to 20 times the annual premium paid by the policyholder is possible.

3. HDFC Life Pension Super Plus

The Pension Super Plus is a plan that focuses on building a pension corpus for individuals, as the name implies. This plan assists people in saving enough money to live a financially stable life after they retire.

HDFC Life Pension Super Plus plan features and benefits:

The Pension Super Plus plan provides the benefit of planned savings to assist individuals to become financially secure after retirement.
To meet the various needs of the working class, this plan offers three distinct insurance terms and four different premium payment choices.
All premiums will be put in a fund with risk and return rating of medium.
The proceeds can be given to the nominee as an annuity or a lump payment in the event of the policyholder's death.

4. HDFC SL Youngstar Super Premium

The Young Star Super Premium is a unit-linked insurance product (ULIP) that allows parents to set aside money for their children's future.

HDFC SL Youngstar Super Premium plan features and advantages include:

The plan offers two separate benefit options: Save and Save-and-Gain.
Buyers have four options from which to pick in order to meet their financial objectives.
Prospective policyholders have the option of selecting the sum assured as well as the premium amount they wish to pay.
There are three tenure options available: 5 years, 10 years, and 15 years.
In the event that a parent dies unexpectedly, the Save Benefit provides a monetary payout to the kid.

Conclusion

A unit-linked insurance plan (ULIP) is a type of life insurance that combines risk coverage with investment opportunities. Capital market changes have a direct impact on the performance of ULIPs.