Savings Assurance Plan
Despite your best efforts, you find it hard to save regularly for you and your family's future. Unexpected expenses, unplanned purchases and often, sheer lack of time defeat your efforts. Don't you wish that someone would take on the responsibility of regularly saving your money for you? HDFC Savings Assurance Plan is a 'With Profits' savings plan, which helps you build your long-term savings conveniently and ensures that your family is protected even if you are not around.
HDFC SAP is a non-underwritten product i.e. it requires no medical tests.
The minimum age for availing this plan is 18 years and the maximum age is 60 years. The maximum age at maturity is 75 years.
In case of death of the holder after the first year and during the policy term, all premiums paid to-date will be returned with compound interest calculated at 6% per annum, subject to a maximum of the Sum Assured plus Reversionary Bonuses declared to date.
- This plan is a 'With Profits' savings policy, which offers the following features:
- The policy receives simple reversionary bonuses, which are usually added annually.
- At maturity, the policy pays out the basic Sum Assured plus Reversionary Bonuses declared during the policy term. Interim; or Terminal Bonus may also be payable, if declared
- In the unfortunate event of death during the first year, a sum equal to 80% of the premiums received is payable. If the death takes place after the first year and during the policy term, all premiums paid to-date will be returned with compound interest calculated at 6% per annum, subject to a maximum of the Sum Assured plus Reversionary Bonuses declared till date
- Tax benefit under Section 80C and 10(10D) of Income Tax Act 1961, subject to provisions contained therein
It just takes a few simple steps to get insured. Apply today and manage your finances easily.