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Death Benefits
Greater of the following: Sum Assured (less all withdrawals as defined in the policy document) OR The total fund value. The policy will terminate thereafter and no more benefit will be payable. Please refer to the policy document for details. As per section 10(10D) of the Income Tax Act, 1961, any sum received under a life insurance policy (other than sum received under section 80DD (3) or section 80DDA (3) or under a Keyman Insurance Policy) will be exempt provided the annual premium payable under any of the years during the term of the policy does not exceed 10% of the actual capital sum assured. Death benefits under section 10(10D) will be tax-free. Premium paid towards life insurance policies will be eligible for deduction in computation of total income under Section 80C of the Income Tax Act,1961 subject to limit of ` 1,00,000/The overall limit prescribed for section 80C, 80CCC and 80CCD is ` 1,00,000/-
Tax Benefit
Please note The above mentioned tax benefits are subject to changes in the tax laws. The tax benefits described above reflect our understanding of the current legislations. It is advisable to re-confirm the same with your tax consultant at your end.
Other Benefits Recipient of Benefits Premium Allocation Charge (% of annual premium) Policy Administration Charge Fund Management Charge Miscellaneous Charge
Partial Withdrawal after 5 years subject to certain conditions mentioned in the policy document. Death Benefits are payable to the Nominee. Years 1 and 2 Year 3 Years 4 and 5 4% 3% 2% 0.31 % per month of the annual premium will be deducted monthly. The Policy Administration Charge will increase @ 5% p.a. on every policy anniversary subject to a maximum charge of ` 500 per month. 1.35% p.a. of the funds value, charged daily. If the Highest NAV Guarantee Fund Option is selected then an Investment Guarantee Charge of 0.5% p.a. of the funds value, towards the cost of the investment guarantee will be charged daily. Additional Servicing Charge of ` 250 may be charged on each servicing request(s). Death benefit will not be paid if death occurs by Suicide within a year of date of commencement or the date of issue or date of revival of the policy, whichever is later. However, in such circumstances, the value of the units held on the date of intimation of death will be paid out and the policy will terminate. Allowed subject to conditions. Alteration of premiums, sum assured or term is not allowed. Switching between Investment Options i.e. between Highest NAV Guarantee Fund Option and Free Asset Allocation Option is not allowed. 30 days from the date of receipt of the original policy document. This plan has a grace period of 30 days. You are expected to pay your original regular premium through-out the policy term. If you have not paid
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your premium by the expiry of the grace period, we will send you a revival letter within 15 days from the end of the grace period. You have an option to either Revive the policy within 30 days of receipt of the Revival letter or Discontinue the policy without any cover If you Revive your policy, your fund will continue to be invested and risk cover will continue. Charges may be levied; please refer to the policy document. If you do not revive the policy within 30 days of the receipt of Revival letter, the policy will be automatically Discontinued.
Surrender
If the policy is Discontinued after completion of the 5th policy year You can surrender your policy anytime. However, Surrender recommended as it will adversely impact the returns of your policy. On Surrender before policy anniversary 5th
Fund value (as on the date of discontinuance) less any applicable Discontinuance Charges will be moved to the Discontinued Policy Fund and will earn a minimum guaranteed return as specified by IRDA. The current minimum rate of interest defined by IRDA is the interest rate on savings bank accounts of State Bank of India. The interest rate applicable will be the interest rate given on standard savings bank accounts. A Fund Management Charge of 0.50% p.a. will be levied on the Discontinued Policy Fund. Your fund value as held in the Discontinued Policy Fund will be payable at the end of the 5th year. Fund value will be paid out.
is
not
Fund value as held in the Discontinued Policy Funds (as mentioned above) will be payable to you at the end of the 5th policy year. th Surrender after 5 policy Life cover will cease and policy will terminate. anniversary The Fund value will be paid out. You have an option to revive your discontinued policy within 2 years from date of discontinuance or till the expiry of IRDA mandated lock in period of 5 years from policy inception, whichever is earlier. A Revival Charge may be applied. Upon revival, the Discontinuance Charges levied on discontinuance are reversed and we will reallocate the amount in your policys Discontinuance Policy Fund including any interest earned during the period your funds were in Discontinuance Policy Fund at the prevailing unit prices on the date of revival. Please refer to the policy document for details.
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Please Note: The funds mentioned in this document have been allotted a Segregated Fund Identification Number (SFIN). This number is available in our sales literature and also on our website for verification. Annexure A: Constant Proportion Portfolio Insurance (CPPI) is an investment strategy that allows constant rebalancing of the asset allocation (between risk free assets like debt and risk assets like equity) thus empowering the fund to have equity exposure whilst at the same time ensuring that a minimum level of NAV will be achieved at the maturity date of the policy. Highest NAV Guarantee Fund in Crest uses CPPI methodology as the fund management strategy to meet the objective of the fund. In the Highest NAV Guarantee fund, the NAV at the end of the investment horizon is at least equal to the higher of ` 15 or the highest NAV achieved during the stipulated reference period. The Reference period during which the Highest NAV will be observed, is from 1 -Sep-2010 to 31-Aug-2017 including both the dates. The highest NAV during this Reference period, or ` 15.00, whichever is higher, will be the minimum guaranteed NAV at the maturity of your policy. The final NAV at maturity could be higher as well.
For any further query or clarification, kindly contact us as below: Call us on our help line number 18602679999 (local charges apply). DO NOT prefix any country code e.g. +91 or 00. Send us a call back request- SMS SERVICE to 5676727 Email us at service@hdfclife.com or visit our website www.hdfclife.com We request you to also read your policy document. It will familiarise you with the benefits, other charges and significant details of the product.
Insurance is the subject matter of the solicitation. HDFC Standard Life Insurance Company Limited. In partnership with Standard Life. Regn no. 101 Regd Off: Ramon House, H.T. Parekh Marg, 169, Backbay Reclamation, Churchgate, Mumbai-400020, India ARN NO: CS/03/2013/3309 For more details on risk factors, terms, conditions and exclusions, please read the product brochure before conclusion of sale. In case of any inconsistency in this document and the policy bond, the policy bond will prevail.
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