This plan provides a lump sum on death of the life assured during the term of the plan. The lump sum will be a decreasing percentage of the initial sum assured. As the outstanding loan decreases as per the loan schedule, the cover under the policy decreases as per the policy schedule. Since this is a pure risk cover plan, no benefits are payable on survival to the end of the term of the policy.

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Why should you buy this product?

If you are taking a loan to buy a house for your family, this plan can help you ensure that life's uncertainties do not affect their shelter. It is an affordable plan that has been designed to help your family repay the outstanding loan in case of your unfortunate death.

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What optional benefit are available with this plan?

You can add the following optional benefit to customise your policy to suit your needs:

1. Accelerated Sum Assured (ASA) Benefit Accelerated Sum Assured (ASA) Benefit provides, on diagnosis of any one of the 6 common critical illnesses(1), an amount equal to the amount payable on death. As soon as we accept your claim:
   - we pay out the sum assured, and
   - your basic policy immediately terminates without value.

   This benefit accelerates or advances the date on which the benefit would be payable. It becomes payable on death or critical illness, whicheveroccurs earlier. Once a claim has been met, either on death or critical illness, no further benefit is payable on your policy.

   This optional benefit must be selected at the outset of your plan.

   (1) Cancer, coronary artery bypass graft surgery, heart attack, kidney / renal failure, major organ transplant (as recipient) and stroke.
   
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   Does Loan Cover Term Assurance offer you Tax Benefits?

   Tax benefits described in Section 88 and Section 10 (10D) of the Income Tax Act are applicable.
   
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   Are you eligible?

   The eligibility ages are as follows:

   	Basic Policy	Policy with optional benefit
   Minimum age at entry	18	18
   Maximum age at entry	55*	55
   Maximum age at expiry	65	65

   *60 yrs. for a single premium policy.
   
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   What are the payment options?

   You have the choice of paying your premium either in yearly, half-yearly or quarterly modes, or of paying a single one-time premium, depending on your convenience.
   
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   Indicative Premium* for the basic policy

   The age and term limits for taking out a Loan Cover Term Assurance are:

   	Annual Premium** (Rs.)		Single Premium (Rs.)
   	Term of loan (in yrs.)		Term of loan (in yrs.)
   Age of Life Assured	10	15	10	15
   30	1,592	1,634	5,781	7,993
   35	1,757	1,799	6,324	9,152
   40	2,114	2,163	8,515	12,991
   45	2,782	2,915	10,636	16,663
   50	3,955	4,175	15,921	25,038

   * The premium quoted above may vary as a result of underwriting. The above rates are for a male life assured for an initial sum assured of Rs. 3.5 lakh.
   ** In case of annual premium payment, the premium is to be paid for only the first 2/3rd of the term while the cover continues for the full term
   
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   Who are we?

   HDFC Standard Life Insurance Co. Ltd. is a joint venture between HDFC, India's largest housing finance institution and Standard Life Assurance Company, Europe's largest mutual life company. HDFC manages Rs. 18,000 crore in assets and Standard Life manages US $ 119 billion in assets. Both the promoters are well-known for their ethical dealings, their financial strength and their commitment to be a long term player in the life insurance industry - all important factors to consider when choosing your insurer.
   
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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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   EXCLUSIONS

   The following exclusion applies :
   

   Loan Cover Term Assurance Plan
   We shall not be liable to pay the benefit amount indicated in your policy schedule if the death of the life assured or the death of the first to die of the lives assured is caused directly or indirectly by suicide within one year of the date of commencement, or the date of issue of the policy, if later.

   Accelerated Sum Assured Benefit
   We will not pay Accelerated Sum Assured Benefit if it is caused directly or indirectly by any of the following:

   1. Intentionally self-inflicted injury or attempted suicide, irrespective of mental condition.
   2. Alcohol or solvent abuse, or the taking of drugs except under the direction of a registered medical practitioner.
   3. War, invasion, hostilities (whether war is declared or not), civil war, rebellion, revolution or taking part in a riot or civil commotion.
   4. Taking part in any flying activity, other than as a passenger in a commercially licensed aircraft.
   5. Taking part in any act of a criminal nature.
   6. Pregnancy or childbirth or complications arising therefrom.
   7. A condition for which the life assured had previously received treatment or of which he was aware at the time of issue of the policy, if the claim arises within 2 years of the latest of date of commencement, date of reinstatement and date of issue of the policy.
   
   
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   Prohibition of rebates

   Section 41 of the Insurance Act, 1938 states:-

   1. 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.
   2. Any person making default in complying with the provisions of this section shall be punishable with fine which may extend to five hundred rupees.
   
   
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   Apply Online:
   
   If you are interested in the Personal Pension 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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