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What is Single Premium Whole of Life Insurance?
Can I buy a Flexible Bond?
How does the Flexible Bond work?
What are the risk factors?
How do I Pay A Single Premium?
What should I do next?
Prohibition of rebates
Apply Online
What is Single Premium Whole of Life Insurance?
- A Flexible Bond : This Bond is an investment contract that gives you the security of investment in our With Profits fund. You pay a single premium. The policy pays a lump sum when you want it.
- A sound investment : Your money will be invested in our With Profits fund. This fund aims to provide long-term secure and stable growth.
- You choose the term : Even after you have bought your policy you can choose when to take your money. For 4 weeks after any one of the 10th, 15th, 20th and subsequent five-yearly anniversaries you can choose to receive the sum assured plus any attaching bonuses in full. Once the money has been taken, the policy will cease.
- Surrender : You can terminate your policy at any other time after it has been in force for 6 months and receive a surrender value.
- On Death : Your family gets the sum assured secured by your premium plus any attaching bonuses.
- And more, tax benefits as well : A premium on this policy can qualify for a tax rebate.
- No medical requirements : We do not need to ask you to undergo any medical test.
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Can I buy a Flexible Bond?
It's easy; only the following rules apply:
| Minimum age at entry |
18 years |
| Maximum age at entry |
70 years |
| Minimum sum assured |
Rs 25,000 |
| Maximum sum assured |
Rs 5,000,000 |
You can buy the product on a single life basis.
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How does the Flexible Bond work?
Normally we will declare a compound reversionary bonus for your policy every year and this will be added to your policy on its anniversary.
In addition, on death, surrender or on the guaranteed dates a terminal bonus might be payable.
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What are the risk factors?
Any surrender value payable is at our discretion. It will reflect our performance over the term of your policy. It may go up or down. Future bonuses are not guaranteed. They are dependent on our future experience.
If any of the information which you provide is incorrect, we reserve the right to vary the benefits which may be payable and, further if there has been non-disclosure of a material fact then we may treat your policy as void.
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How do I Pay A Single Premium?
A single premium can only be paid by cheque.
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What should I do next?
If you are interested and want to know more about these plans, please fill up the registration form and we will get in touch with you.
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Prohibition of rebates
Section 41 of the Insurance Act, 1938 states:-
No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.
Any person making default in complying with the provisions of this section shall be punishable with fine which may extend to five hundred rupees.
Regd. Office: HDFC Standard Life Insurance Company Ltd, Ramon House, 169 Backbay Reclamation, Mumbai - 400 020.
This document has no monetary value at any time and is not a proof of any contract with HDFC Standard Life Insurance Company Ltd.
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Apply Online
If you are interested in the single premium assurance plan from HDFC Standard Life, please register here. Our consultants will get in touch with you as soon as we receive your contact details.
Address
Personalfn Insurance Services India Ltd.,
404, Damji Shamji Business Center,
Vidhyavihar (W),
Mumbai - 400 086, India.
Phone: 91-22-5599 1234 / 5599 7536
Email: insurance@personalfn.com
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