HDFC Life Invest Wise Plan

Recommendations :No

Name of the policy :
HDFC Life Invest Wise Plan

A brief desciption :

HDFC Life Invest Wise Plan is a Single Premium ULIP providing Fund Value at maturity and higher of Sum Assured and Fund Value as death Benefit. However the cover provided under this plan is highly inadequate and the price paid to acquire such cover is also enormous so it is better to go for an inexpensive term plan and invest the extra money elsewhere.

Started date :

Type of policy :
Insurance cum Investment

Category :

Insurance :
1.1 X Single Premium

Returns expected :
8%-10% (The performance would be less than a performing equity diversified mutual fund)

Entry age :
45-70 Years

Surrender :
If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.

Minimum amount :
Min-25,000 Max- No limit

Mortality Charges :
The amount is not clearly specified, it depends upon the age of the policy holder and cover taken.

surrender changes :

Unique features :
It is a single premium ULIP providing a choice of 5 investment funds.

Fund Management Charge :1.35% p.a. of the fund value charged daily

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