Business Desk – HDFC Life Guaranteed Income Insurance Plan offers tax-free benefits and guaranteed death benefits. It helps the customers to build a financial corpus that would support them through regular and guaranteed income.
It is a non-linked non-participating individual life insurance savings plan which offers tax-free benefits. Also, customers can get premium payment terms and guaranteed death benefits after the completion of the entire policy term.
According to HDFC, the plan is a savings-oriented product that helps people to secure themselves financially.
Key Things You Should Know:
- The age for the plan ranges from 0 – 65 years.
- It offers guaranteed income of 11% to 13% annually.
- It is a non-participating life insurance plan which is savings-oriented product.
- Customers can get a discount on first-year premiums for online purchases; a discount of 12% for 8 and 10 years of premium payment term and a discount of 15% for 12 and 15 years.
- Customers can choose the income period of 8, 10, 12, 15, 20, 25, or 30 years.
- Customers can avail of guaranteed death benefits either in a lump sum or in monthly installments.