HDFC Life Health Assure Plan

HDFC Life Health Assure Plan

Features:

• Health Plan with unique benefit of 3 years premium guarantee i.e no change despite claims in any given year.
• Life long renew-ability without fresh medical declaration at each renewal if no policy alternation.
• Multiplier benefit where cover increases by 50% in year if there is no claim. Doubles the cover in 2 years!
• Provides option to restore 100% of your Sum Insured in case the benefit is exhausted in a policy year.
• Offers more flexibility while selecting room, as there is no sub-limit on room rent.

Benefits:

• Covers parents and parents-in-law in family floater.
• Cashless Claim Service at specified network hospitals across India.
• Comprehensive Mediclaim plan including Hospital Cash*, Wellness* and Maternity Benefit - all in one plan!
• Wellness Benefit for Gold Plan option - get Health Check up vouchers in 2nd policy year of every 3 year term.
• Simplified underwriting with short medical questionnaire.

Features and Benefits of HDFC Life Health Assure Plan:

Choice of plan option 

• You can select either Silver Plan Option or Gold Plan Option. Your sum insured will be as per the plan option.

Choice of plan type 

• You can choose either Individual or Family Floater.

Family Floater 

• You may cover your spouse, children, both parents and parents-in-law.
• Premium Guarantee for 3 years even if you make a claim.

Guaranteed Lifetime Renewability 

• If you pay the premiums in time and the policy continues without any break in cover, then the plan offers guaranteed renew-ability for lifetime. See the product brochure for details.

Benefits include the following as per the plan option selected

• In-patient hospitalization benefit
• Day care benefit
• Pre and post hospitalization benefit
• Emergency ambulance benefit
• Donor expense benefit
• Maternity benefit
• Hospital cash benefit

Optional Benefit:

• Restore Benefit
• Room Rent Enhancement

The plan provide you an option to choose from our 2 more optional benefit:

Restore Benefit:

Restores the original sum Insured if the due to claims made benefits (sum Insured & multiplier benefit if any) are exhausted in a policy year. This is an optional benefit and can be opted at inception by paying extra premiums. See the product brochure for details.

Room Rent Enhancement:

Option to eliminate the sub-limits of 1% on room rent as long as standard private room is selected and provides you with more flexibility to choose room. This is an optional benefit and can be opted at inception by paying extra premiums. See the product brochure for details.

• Cashless Claim Service at specified network hospitals across India
• Hassle free Claim Reimbursement Process

Wellness benefit for Gold Plan Option - get health check up vouchers

Multiplier Benefit:

• Annual limit increases by 50% of sum insured after one claim free year and 100% after 2 consecutive claim free years
• No extra premium for increased cover due to multiplier benefit

Premium Guarantee:

• Premium guaranteed for 3 years policy term, during which no change in premium due to increase in age of live insured and even in case of claims
• Premium reviewed at the end of policy term and new premium based on the attained age of lives insured and the then prevailing premium rate table

Renewability for Lifetime:

• Assurance that the cover will not stop in old age
• No need of fresh medical underwriting at each renewal if policy is continued without break

Coverage for all your loved ones:

• Cover your spouse, children, both parents and parents-in-law with family floater plan type

Comprehensive Coverage:

• Inpatient hospitalization benefit
• Day care benefit
• Pre and post hospitalization benefit
• Donor expense benefit
• Emergency ambulance benefit
• Hospital cash benefit (Gold Plan Only)
• Wellness benefit (Gold Plan Only)
• Maternity benefit (Family Floater Gold Plan Only)

Notes: There is no benefit on maturity. This product does not offer any benefit on death. Subject to continuity of policy with no break in cover, at the then prevailing premium rates and the then prevailing product terms and conditions.

Also see HDFC Life Click2Protect Plus Plan

Eligibility:

Plan Type-Individual
Plan Option-Silver sum Insured	3 lacs
Gold sum Insured	5 lacs
Plan Type-Family Floater
Plan Option-Silver sum Insured	3-5 lacs
Gold sum Insured	7-10 lacs

You have Flexibility to customize a plan as per your and your family's needs

Plan Details:

Age and policy term limits for HDFC Life Health Assure Plan Are as Follows:

Minimum entry age for Adults and Policy holder	18 years
Minimum entry age for Dependent Children	91 days
Maximum entry age for both	70 years
Policy Term	Whole Life
Premium frequency	Annual

Age has to be taken as of "last birthday" basis

Commission for Life Insurance:

As per RBI circular: RBI/2009-10/225 dated November 16, 2009, following are the details of the comparative commission earned by HDFC Bank from Insurance (Life), whose products are being distributed:

Commission, Brokerage and trail from Life Insurance:

Category	First Year Commission		2nd year Renewal commission
	Min	Max	Min	Max
Health	2%	25%	0%	7.50%
Pension	2%	7.50%	0%	2%
Protection	2%	35%	0%	0%
Savings & Investment	0%	35%	0%	3%
Group Product*	2%	2%	0%	0%

Note: The commission varies depending upon the Product in each category, tenure, amount of premium and premium paying term.

For Group Products commission payable is 2% of the premium with a ceiling on the maximum payout as defined by Insurance Regulatory and Development Authority of India (IRDAI) from time to time.

Source : insurancboom.com

Jeevan Akshay VI

Jeevan Akshay VI

Introduction:

It is an Immediate Annuity plan, which can be purchased by paying a lump sum amount. The plan provides for annuity payments of a stated amount throughout the life time of the annuitant. Various options are available for the type and mode of payment of annuities.

Also see LIC Jeevan Nidhi Plan

Options Available:

The following options are available under the plan:

Type of Annuity:

• Annuity payable for life at a uniform rate.
• Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.
• Annuity for life with return of purchase price on death of the annuitant.
• Annuity payable for life increasing at a simple rate of 3% p.a.
• Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
• Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
• Annuity for life with a provision of 100% of the annuity payable to spouse during his/ her life time on death of annuitant. The purchase price will be returned on the death of last survivor.

You may choose any one. Once chosen, the option cannot be altered.

Mode:

Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals. You may opt any mode of payment of Annuity.

Salient features:

• Premium is to be paid in a lump sum.
• Minimum purchase price :
• Rs.100,000/- for all distribution channels except online.
• Rs.150,000/- for on line sale.
• No medical examination is required under the plan.
• No maximum limits for purchase price, annuity etc.
• Minimum allowed age at entry is 30 years (completed) and Maximum allowed age at entry is 85 years (completed).
• Age proof necessary.

Annuity Rate:

Amount of annuity payable at yearly intervals which can be purchased for Rs. 1 lakh under different options is as under:

Yearly annuity amount under option:

Age Last birthday	( i )	( ii ) (15 years certain)	( iii )	( iv )	( v )	( vi )	(vii)
30	7190	7160	6890	5250	7080	6970	6860
40	7510	7440	6930	5610	7310	7120	6890
50	8140	7950	7000	6280	7760	7420	6930
60	9350	8790	7110	7530	8640	8030	7010
70	12080	9830	7260	10220	10560	9370	7130
80	17880	10440	7480	15890	14600	12340	7290

If your purchase price is Rs. 2.50 lakh or more, you will receive higher amount of annuity due to available incentives. In addition of this, for policies sold online, a rebate of 1% by way of increase in the annuity rate shall also be available.Incentives for high purchase price:

Service Tax:

Service tax, if any, shall be as per the Service Tax Laws and at the rate of service tax as applicable from time to time.

The amount of service tax as per the prevailing rates shall be payable by the policyholder along with the purchase price.

Also see Surrender Insurance Policy

Paid-up value:

The policy does not acquire any paid-up value.

Surrender Value:

No surrender value will be available under the policy.

Loan:

No loan will be available under the policy.

Cooling-off period:

If you are not satisfied with the "Terms and Conditions" of the policy, you may return the policy to us within 15 days from the date of receipt of the Policy Bond. On receipt of the policy we shall cancel the same and the amount of premium deposited by you shall be refunded to you after deducting the charges for stamp duty.

Section 45 Of Insurance Act 1938:

No policy of life insurance shall after the expiry of two years from the date on which it was effected, be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose.

Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life assured was incorrectly stated in the proposal.

Section 41 of Insurance Act 1938:

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: provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taken out by himself on his own life shall not be deemed to be acceptance of a rebate of premium within the meaning of this sub-section if at the time of such acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer.

Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life assured was incorrectly stated in the proposal.

Why do you need Life Insurance?

Life is full of uncertainties & you can’t really presume that your future is devoid of risks, so to be safe one has to get himself insured so that his dependents are offered with financial help in any unforeseen event.
Life Insurance caters to your following requirements :
• Financial Security to your family
• Saving options for Children through Children Insurance Plans
• Investment & saving options
• Protection of your home mortgage
• Saving options for Retirement through Pension plans

HEALTH PROTECTION PLUS

LIC launches a unique Health Insurance Plan “HEALTH PROTECTION PLUS”

Health is a major concern on everybody’s mind these days. With sky rocketing medicalexpenses, the possibility of any illness leading to hospitalisation or surgery is a constant source of anxiety unless the family has actively provided for funds to meet such an eventuality. Financial planning regarding Health is, therefore, very important as any emergency might force one to dip into one’s savings which would have been reserved for other goals. The purpose of health insurance is to help you in any such a situation. Most families rarely provide for health insurance, and even if they do, it is grossly inadequate.

LIC has always been sensitive to the changing needs of the Society and has respondedsuitably by introducing matching products to suit these needs. Its latest offering on Health front is “Health Protection Plus”.

LIC’s Health Protection Plus plan is a unique long term health insurance plan that offers health insurance covers for the entire family (husband, wife and the children) – Hospital Cash Benefit (HCB) and Major Surgical Benefit (MSB) along with a ULIP component (investment in the form of Units) that is specifically designed to meet Domiciliary Treatment Benefit (DTB) / Out Patient Department (OPD) expenses for the insured members.

Hospital Cash Benefit (HCB) is a daily benefit payable in case of hospitalization . It can range from Rs.250/- to Rs.2500/- for the Principal Insured (the person who proposes for insurance). For the Spouse or the children, the maximum amount of HCB is Rs.1500/-. The amount of daily benefit doubles in case of hospitalization in ICU. The IDB (Initial Daily Benefit) is applicable during the first year of risk cover. The amount of daily HCB willincrease @ 5% simple p.a. every year on policy anniversary until it hits a cap of 1.5 times the initial benefit.

Major Surgical Benefit (MSB): In the event of the insured undergoing one of the major surgeries defined in the the policy, a lump sum benefit (regardless of the actual costs incurred) equivalent to the percentage of the sum assured mentioned against that surgery will be payable. The sum assured for major surgical benefits will be 200 times of the HCB you choose.

Domiciliary Treatment Benefit (DTB): The Principal Insured can claim an amount equivalent to the actual expense he or she has incurred in respect of any domiciliary treatment or to meet the medical expenses incurred over and above the hospital cash/major surgical benefits in respect of either oneself or the others insured under the policy.

Both HCB and MSB covers are available subject to a waiting period from thecommencement of the risk cover – in respect of each insured member: No death insurance cover is available under the plan.

All eligible existing family members are to be covered at the beginning (proposal stage) itself. New members can however be added under certain specified conditions.

Modes of Payment allowed are: Yearly, Half-Yearly, & Monthly (ECS Mode only). The premiums allocated to purchase units will be strictly invested in a Health Protection Plus Fund (Income and Growth – Low Risk).

One of the important features of the Plan that makes it doubly attractive is thatthe premiums paid under the policy are eligible for Tax Rebate under Section 80(D)of Income Tax Act, 1961.