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HDFC Life launches guaranteed income insurance plan 

HDFC Life recently launched a guaranteed income insurance plan offering life cover, tax savings, and lump sum amount on maturity.

The policy offers a regular income for the balance period till the end of the policy.

Policyholders can choose between 8-15 years for the premium payment term and 16-40 years for the policy term.

The income pay-out rate varies with the premium payment term and premium amount chosen.

Policyholders receive a lump sum equal to the sum assured at the culmination of the policy along with the last income pay-out.

In the event of untimely death, the nominee receives a lump sum amount higher of ten times the annualised premium, sum assured, and 105% of the total premium paid.

Policyholders are entitled to receive tax benefits on premiums paid under section 80C of the Income Tax Act, 1961.

Additional riders like HDFC Life Term Rider and HDFC Life Critical Illness Rider offer lump sum benefits in case of death or critical illness.

There is also a third rider wherein policyholders get an additional lump sum amount in case of accidental death, disability or dismemberment.

Click here to know more about 
guaranteed income insurance plan. 

Check here for more personal finance related stories. 

HDFC Life launches guaranteed income insurance plan

The guaranteed income insurance policy enables policyholders to receive a lump sum equal to sum assured. This is given along with the last income pay-out.

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HDFC Life launches guaranteed income insurance plan. Details here

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HDFC Life launches guaranteed income insurance plan

The guaranteed income insurance policy enables policyholders to receive a lump sum equal to sum assured. This is given along with the last income pay-out.

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