HDFC ProGrowth Plus
  • Flexibility to Invest in Funds
  • Regular Premiums
  • Sample Premium Rates
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Customized Investment Plan for you.

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HDFC ProGrowth Plus

HDFC Life ProGrowth Plus is a unit-linked insurance and regular premium plan where the premium is invested in the market, thus providing good returns along with various benefits. This plan offers the flexibility to choose investment funds and regular premiums. The company invests your regular premium and tidal amount of premium allocation charges in the selected fund in the proper proportion as per the policyholder’s specifications. At the end of the policy term, an accumulated amount of funds will be received. In case of an unfortunate death event of the life assured during the policy period, the nominee will be eligible to receive the fund amount or greater sum assured.

In simple words, HDFC Life ProGrowth Plus is a savings-cum-insurance plan that allows the policyholders to create their own investment strategies as well as provide a life cover.

HDFC Life ProGrowth plan comes with a variety of features and benefits, which are designed to provide financial protection to the assured family members when he/she is no longer around. Continue reading to explore more about the plan

HDFC Life ProGrowth Plus Plan offers you a range of benefits including:

why-choose
  • Choice of plan option
  • Switching
  • Redirection of Premium
  • Tax Benefits
  • Smooth and convenient premium paying process
  • Flexibility to plan your investment strategy

Eligibility Criteria for HDFC ProGrowth Plus

Your Occupation

Entry age

Minimum Age - 14 years Maximum Age - 65 years

Mukhyamantri Amrutam Yojana

Maturity age

Maximum Maturity Age - 75 years

Your Gender

Policy tenure

10 to 30 years

Maternity Benefit Rider

Premium payment term

10 to 30 years

Dr YSR Aarogyasri Trust

Premium payment frequency

Annual, half-yearly, quarterly & monthly

Maternity Benefit Rider

Sum assured

Higher of 10 x annualized premium or 0.5 x policy term x annualized premium

How Does the HDFC Life ProGrowth Plan Work?

Let's understand how the HDFC Life ProGrowth Plan works with a simple premium illustration.

Why Buy Term Insurance Online?

Problem

Mr. Verma is looking for a ULIP plan that helps him create a lump sum amount to fulfill his financial needs.

Solution

His financial advisor advised him to buy the HDFC Life ProGrowth Plan. He visited PolicyX.com

Let's understand how the HDFC Life ProGrowth Plan works for him with a premium illustration table.

Age of policyholder Annual Premium Policy tenure Premium Payment Tenure Maturity Benefits
25 years Rs 25,000 20 years 20 years Rs 5,90,539

Key Takeaways: At the end of the policy tenure the maturity benefits of Rs 5,90,539 are paid to the policyholder.

Features of HDFC ProGrowth Plus

Here are some features of HDFC ProGrowth Plus:

HDFC ULIP Plans

HDFC ProGrowth Plus

HDFC ProGrowth Plus

HDFC Life ProGrowth Plus is a unit-linked insurance and regular premium plan where the premium is invested in the market, thus providing good returns ...

Unique Features

  • Flexibility to Invest in Funds
  • Regular Premiums
  • Sample Premium Rates

HDFC ProGrowth Plus (Pros)

HDFC ProGrowth Plus
  • Partial withdrawals
  • Redirection of Premium
  • Switching

HDFC ProGrowth Plus (Cons)

HDFC ProGrowth Plus
  • No pre-existing condition
  • Suicidal exclusion
  • No auto-cover continuance

HDFC ProGrowth Plus (Other Benefits)

HDFC ProGrowth Plus
  • Flexibility to Invest in Funds
  • Regular Premiums
  • Sample Premium Rates

HDFC ProGrowth Plus (Eligibility Criteria)

HDFC ProGrowth Plus
  • Minimum entry age- 14 years
  • Maximum entry age- 65 years
  • Minimum sum assured- Rs 1
  • 00
  • 000
  • Maximum sum assured- Higher of 10 x annualized premium
  • Maximum policy term- 30 years
Tired of Pushy Sales? Get Insurance, Your Way Tired of Pushy Sales? Get Insurance, Your Way

Benefits of the HDFC ProGrowth Plus Plan

There are various benefits to buying the HDFC ProGrowth Plus Plan Plan. Let’s understand each of them in detail:

  • Choice of Plan Options: Flexibility to choose from Life and extra life options.
  • Convenient Premium Payment Option: Smooth and convenient premium paying process with access to multiple payment modes such as cheque, credit card, auto-debit, and net banking.
  • Choice of investment strategy: Based on your risk and return needs, a plan offers the flexibility to plan your investment strategy
  • Death Benefits : In case of any unfortunate event like the death of a life assured within the policy term, the nominee is provided with a higher sum assured or fund value in the form of the death benefit.

Documents Required to Buy HDFC ProGrowth Plus Plan

Here is the list of documents required to buy the HDFC ProGrowth Plus Plan:

  • Regular Smoking
    Photo ID Proof
  • Your Occupation
    Age Proof
  • Pre-Existing Diseases
    Address Proof
  • Your Age
    Medical Records
  • Your Gender
    Income Proof
Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy HDFC ProGrowth Plus?

You can buy the HDFC ProGrowth Plus official website or one of their nearest branch offices.

Life Insurance
  • Step 1

    Visit the official website of PolicyX.com.

  • Step 2

    Hover on the ‘Life Insurance’ tab.

  • Step 3

    Choose the ULIP plan you want to buy.

  • Step 4

    Fill out the form at the top of the page with the necessary details.

  • Step 5

    Select your income and city. Click on 'Proceed'.

  • Step 6

    Update your education and occupation details.

  • Step 7

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 8

    Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.

Life Insurance
  • Step 1

    Visit the official website of HDFC Life Insurance.

  • Step 2

    Hover over the 'Investment Plans' from the top of the menu.

  • Step 3

    Click on the 'ULIP Plans' and choose the HDFC Life ProGrowth Plan.

  • Step 4

    Click on ‘Buy Now’ and you will be redirected to a new page.

  • Step 5

    Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.

  • Step 6

    Once discussed you can make the premium payment and get the policy documents.

Buying from their branch office

You can buy the HDFC Life ProGrowth Plus Plan offline by visiting one of their nearest branch offices. One of their representatives will help you buy the plan.

Your Occupation

Exclusions of the HDFC Life ProGrowth Plus Plan

  • In case the policyholder commits suicide within 12 months of policy purchase then no death benefits are offered to their family members. Either 80% of the premiums paid to date or the surrender value acquired to date whichever is higher is paid.

Plan At a Glance

What’s Good Here What’s Missing
Choice of plan option Premium Offset
Partial withdrawals Premium continuance
Maturity Benefit Auto cover continuance
Switching Top-up premium

In a nutshell

If you are looking for a ULIP plan that offers you to manage your policy with your own strategy and choice of funds then you must choose HDFC Life ProGrowth Plus.

For more info related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.

FAQs: HDFC ProGrowth Plus

1. In case of my unfortunate demise, will my family receive anything?

In the event of any such unfortunate event, the highest of the following will be paid to the beneficiary: Sum Assured (less all withdrawals made during the two year period immediately preceding the death of Life Assured) Unit Fund Value Minimum Death Benefit of 105% of the total Premium(s) paid After then, the insurance will be terminated, and no further benefits will be paid. In addition to the Death Benefit, the company will pay the Accidental Death Benefit (if applicable), which is the Sum Assured. After then, your coverage will expire, and no more benefits will be paid.

2. What Charges are levied under HDFC Progrowth Plus?

Premium Allocation Charge Fund Management Charge Policy Administration Charge Mortality Charge Risk Benefit Charge

3. What are the available premium paying frequency available under the plan?

One has the option to pay their plan premium Annually, Half-yearly and Monthly

4. What will happen if I don’t pay the premiums for my HDFC Progrowth Plus Plan even after the grace period?

If the premium for the HDFC Life ProGrowth Plus plan has not been paid even after the grace period, you have the following options: You have two years from the date of discontinuation to renew your policy, or you can cancel it. However, cancelling the policy will cancel all the risk coverage or benefits. You can also make your policy a paid-up policy. However, this option is only accessible if your insurance lapses or is terminated after the 5-year policy term has expired. If the policy is terminated before the completion of 5 years, the Fund Value, minus the relevant costs, will be added to the (DPF) Discontinued Policy Fund. The Discontinued Policy Fund will be paid when the lock-in period is completed. In the event that the insurance is terminated after five years, the following applies: You will receive the whole Fund Value. You can also renew a terminated policy within two years after the policy’s discontinuance date, provided all premiums have been paid in full and the underwriting policy has not been violated.

5. Are there any terms to withdraw my funds partially during the time of financial emergency?

After the completion of 5 years, the policyholder can make lump sum partial withdrawals from the funds, which is subject to: The life assured being at least 18 years of age The minimum amount of withdrawal being Rs.10,000 After withdrawal, the fund value does not go below 150% of the annualised premium The maximum amount withdrawn throughout the policy term being 300% of the annualised premium

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Priya Singh

Written By: Priya Singh

Priya has been in the content writing industry for over 9 years. She has been religiously following the insurance sector since the start of her career which makes her an avid insurance expert. Her forte lies in health, term, and life insurance writing, along with her knowledge of the latest developments in the insurance sector.

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