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HDFC Life Pragati Insurance Plan

HDFC Life Pragati Insurance Plan - “Grow your Savings, Secure your Future”. Each one of us desires a secure future for ourselves and our loved ones and we strive hard to grow our savings in order to provide for family’s financial security. But often we also worry about various road blocks that can get in the way of achieving the same. HDFC Life understands your desire & concern and has designed a solution - HDFC Life Pragati that meets dual objectives of Savings and Protection so that you can continue providing your family with the quality of life and peace of mind.

HDFC Life Pragati Insurance Plan (Features):

  • Affordable premiums starting as low as Rs 1001 per month
  • Multiple term options to suit your needs
    1. Choose to pay a lump sum single premium and get life coverage for 5 to 20 years
    2. Choose to pay premiums for 5 to 10 years and get life coverage for 10 to 20 years
  • Hassle free issuance based on Declaration Of Good Health (DOGH)2
  • Your policy’s value will increase as we declare bonuses
  • Even if you miss paying your premiums, we will continue to pay full Death Benefit3for 2 years from the date of last unpaid premium
  • Guaranteed return of Premiums on Maturity/Death 

    1 Premium shall exclude any underwriting extra premiums, any loadings for modal premiums and any taxes paid such as service tax and cess as applicable.

    2 Please speak to our Financial Consultant to know more

    3 Please refer product brochure for more detail

HDFC Life Pragati Insurance Plan (Advantages):

  • MATURITY BENEFIT: On survival till the maturity date, provided all due premiums have been paid, you will receive the higher of :
    1. Sum Assured on Maturity + Accrued Reversionary bonus (if any) + Interim bonus (if any) + Terminal bonus (if any)
    2. 100 % of Total Premiums4 paid
  • DEATH BENEFIT: On death of the Life Assured during the Policy Term, provided all due premiums are paid, we will pay the higher of the following:

    • Sum Assured on Death + Accrued Reversionary Bonus (if any) + Interim Bonus (if any) + Terminal Bonus (if any)
    • 105% of Total Premiums4 paid

    The Sum Assured on Death shall be the higher of:

    • Sum Assured on Maturity5
    • 10 times Annualized Premium for entry age less than 45 years and 7 times Annualized Premium for entry age greater than or equal to 45 years for Limited and Regular pay policies OR 2 times Single Premium for Single pay policies

    On payment of the maturity or death benefit, the policy will terminate with no further benefits payable.

    For maturity/death benefit for a reduced Paid-up/lapsed policy, please refer to the Section on Paid-up & Laps below.

  • AUTO COVER CONTINUANCE (ACC): Under this feature, for a lapsed/Paid-up policy, the full death benefit shall apply for:
    1. two years OR
    2. outstanding Policy Term

    Whichever is lower from the date of Paid-up/lapse.

    The death benefit payable during the ACC period shall be the higher of: 

    • Sum Assured on Death + Accrued Reversionary Bonus (if any) + Interim Bonus (if any) + Terminal Bonus (if any)
    • 105% of Total Premiums4 paid

    Reversionary Bonus accrued till date of lapse/Paid-up shall become payable on death and no further Reversionary Bonus shall accrue to the policy.

    4Total Premiums paid shall be (Annualised Premium * number of years (or part thereof) for which premiums have been paid). Annualised Premium shall exclude any underwriting extra premiums, any loadings for modal premiums and any taxes paid such as service tax and cess as applicable.

    5Sum Assured on Maturity is the absolute amount of benefit guaranteed to be payable on maturity of the policy.

HDFC Life Pragati Insurance Plan (Eligibility):

Premium Paying Term
  • Single Pay
  • Limited Pay - 5 Years to 10 Years
  • Regular Pay - 10 Years
Policy Term
  • Single Pay - 5 to 20 years
  • Limited Pay - 10 to 20 years
  • Regular Pay - 10 years (Fixed)
Minimum Entry Age 8 Years
Maximum Entry Age 55 Years
Minimum Maturity Age 18 Years
Maximum Maturity Age 65 Years
Minimum Sum Assured on Maturity Rs. 5,000
Maximum Sum Assured on Maturity
  • Single Pay – Rs 18,697
  • Limited Pay – Rs 64,869
  • Regular Pay – Rs 54,747

All ages mentioned above are age last birthday. Risk cover starts from date of commencement of policy for all lives including minors.

You can choose to pay your premiums either annually, half yearly, quarterly or monthly or as a single lump sum. The Premium limits are as specified below:

Frequency of Premium Payment Minimum Premium6 Maximum Premium
Single Pay Rs.5,000 Rs 15,000
Annual Rs.900 Rs 5,500 (Annualized Premium)
Half-Yearly Rs.450
Quarterly Rs.225
Monthly7 Rs.100

The minimum premium amounts are subject to the Sum Assured at Maturity being at least Rs.5, 000

6The minimum premium amounts shall exclude any underwriting extra premiums, any loadings for modal premiums and any taxes paid such as service tax and cess as applicable.

7For Monthly premium frequency, we may collect 3 months premiums in advance on the date of commencement of policy as a prerequisite to allow monthly mode of premium payment

HDFC Life Insurance Savings and Investment Plans and Policy

Disclaimers:

Starting premiums for this plan are Rs. 24000 per year and the plan is available only on an annual mode

HDFC Life Smart Woman Plan (Form No: P501, UIN: 101L082V02). This is a unit linked non participatory product. For more details on risk factors, terms and conditions and exclusions please read the product brochure or consult financial consultant before conclusion of sale. Unit linked insurance plans are different from traditional plans and are subject to different market risks. The investment risk in the portfolio is borne by the policyholder. (hdfclife.com)

Children's Policy and Plans
HDFC SL YoungStar Super Premium
HDFC Life YoungStar Udaan
Protection Plans Premium Calculators
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HDFC Life Click2Protect Plus
Savings/Investment Policy and Plans
HDFC Life Pragati
HDFC Life Click2Invest - ULIP
HDFC Life Sanchay
HDFC Life Super Income Plan
HDFC Life Capital Shield
HDFC SL Crest
HDFC Life ClassicAssure Plus
HDFC Life Super Savings Plan
HDFC Life ProGrowth Plus
HDFC SL ProGrowth Super II
HDFC SL ProGrowth Flexi
HDFC Life Sampoorn Samridhi Plus
HDFC Life Sampoorn Nivesh
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ULIP Plans by HDFC Life
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Retirement Policy and Plans
HDFC Life Personal Pension Plus
HDFC Life Click 2 Retire - ULIP
HDFC Life Pension Super Plus
HDFC Life Single Premium Pension Super Plan
HDFC Life Assured Pension Plan ULIP
HDFC Life Guaranteed Pension Plan
HDFC Life New Immediate Annuity Plan
Women's Policy and Plans
HDFC Life Smart Woman Plan
HDFC Life YoungStar Udaan
HDFC Life Pension Super Plus
HDFC SL Youngstar Super Premium