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The comparison study of ULIP plan between HDFC SL And LIC

HDFC SL CREST
Plan Name: Crest

LIC ENDOWMENT PLUS


Plan Name: Endowment Plus

Insurer: HDFC SL Insurance Company Insurer: Life Insurance Corporation of India limited Category: Unit Linked Insurance Plan Category: Unit Linked Insurance Plan Objective: Financial protection of family and

Objective: Financial protection of family and good return on investment good return on investment

HDFC SL Crest is a unit-linked insurance LIC Endowment Plus is a unit linked policy (ULIP) where the insurance company insurance plan (ULIP), where the risk of does not carry the risk associated with the investment is borne by the policyholder. If investment of premiums paid by the policy the Life Insured dies within the policy tenure, holder. Since the premiums are invested in the nominee would receive the Sum Assured the markets the investment risk is borne by or the Fund Value, whichever is higher. the policy holder Key Features Key Features Benefit of Highest NAV recorded during the entire policy term Guaranteed benefit of minimum NAV of Rs 15 at maturity Policy term is 10 years but the policy holder has to pay premium for only 5 years Unit linked insurance plan with choice of 4 investment funds Higher of Sum Assured or Fund Value will be paid as Death Benefit Choice of two riders is Accidental Death Benefit and Critical Illness Benefit cover Option to decrease the Sum Assured during the policy tenure Benefits Death Benefit In case of death of the Benefits policy holder, the nominee gets the Sum Assured (minus partial withdrawals) or Fund Death Benefit - In case of death of the Life Value, whichever is higher. Death benefit Insured, the nominee would get Sum Assured shall exclude any rider premiums and deduct or Fund Value, whichever is higher.

any previous partial withdrawals. Maturity Benefit - On maturity, the policy Maturity Benefit - If the policy holder fund value is paid to the policyholder. survives the policy term, then he/she gets the Fund Value. There are two types of Income Tax Benefit - Life Insurance

investment fund options in this policy. So if premiums paid up to Rs. 1,00,000 are the policy holder chooses Highest NAV allowed as a deduction from the taxable Guaranteed Fund then he/she will get a income each year under section 80C guaranteed return as per the highest NAV attained during the period subject to a minimum guaranteed NAV of Rs.15 Eligibility:

Income

Insurance Minimum Age at entry: 7 premiums paid up to Rs. 1,00,000 are Maximum Age at entry: 60 years allowed as a deduction from the taxable Minimum Maturity Age: 18 years income each year under section 80C. The Maximum Maturity Age: 70 years Policy Term: 10 to 20 years maturity amounts you receive from this plan Risk cover upto 30 times of your annual are exempt from tax under section 10(10D) premium Eligibility: 4 fund options available

Tax

Benefit

- Life

Minimum Entry Age: 14 Years Maximum Entry Age: 55 Years Policy Term: 10 Years Premium Paying Term: 5 Years Minimum Premium: Rs 50,000 Annual Mode Lock in period: 5 Years Minimum Maturity Age: NA Maximum Maturity Age: 65 Years Regular payment: minimum Rs.50000

Unlimited switches (First 4 free per year) Loan on policy Partial withdrawal allowed Accident Benefit and Critical illness rider available for extra premium

Other Details: Fund option : You have the option to choose any of the 4 funds below: Bond Fund Secured Fund Balanced Fund Growth Fund

Single Premium: NA Payment Modes: Yearly Top Up Premium: NA Other Details: Investment Fund Options Under this plan the policy holder gets the following 2 investment options: Highest NAV Guarantee Fund Free asset Allocation: There are 5 funds under this option Short Term Fund Income Fund Balanced Fund Blue Chip Fund Opportunities Fund Switching: The option of switching within the funds is available any number of times during the duration of policy. The first 4 switches every year are free of charge and a charge of Rs.100 is levied thereafter per switch. Riders: The riders pay additional amount on occurrence of an eventuality. You can opt for Accidental death benefit Critical illness rider with the plan.

Partial Withdrawal: Partial withdrawal allowed after 5 years. Settlement Option:

Riders There are no riders in this policy.

Switching

- No

option

to

switch

the

Instead of lump sum amount on maturity, you can choose to receive the amount in Either Highest NAV Guarantee Fund or Free installments over the next few years. Asset Allocation option needs to be selected investment option is available in this plan. right at inception.

Partial Withdrawal - You are allowed to make partial withdrawals in this policy after 5 complete policy years or when the life insured is at least 18 years of age, whichever is later. The minimum amount of partial withdrawal should be Rs. 10,000. The

maximum partial withdrawal that can be done throughout the policy term is 300% of the original regular premium.

Conclusion :
7years.

Minimum age of entry in HDFC is 14 years were as in LIC this is

Fund option is available in both the plans and rider option is available only in LIC No switching option is available in HDFC Plan whereas Unlimited switches in LIC Plan (First 4 free per year)

The comparison study of ULIP plan between HDFC SL And ICICI


HDFC SL CREST Plan Name: Crest ICICI Pru Pinnacle Super Plan Name: Pinnacle Super

Insurer: HDFC SL Insurance Company Insurer: ICICI PRU Life Insurance Company limited Category: Unit Linked Insurance Plan limited Category: Unit Linked Insurance Plan

Objective: Financial protection of family and Objective: Financial protection of family and good return on investment good return on investment

HDFC SL Crest is a unit-linked insurance ICICI Prudential Pinnacle Super Plan is a policy (ULIP) where the insurance company unit linked insurance plan (ULIP) with does not carry the risk associated with the highest NAV guarantee. In this plan, you can investment of premiums paid by the policy choose the guarantee option according to holder. Since the premiums are invested in your risk appetite. If the Life Insured dies the markets the investment risk is borne by within the policy tenure, the nominee would the policy holder receive the Sum Assured or the Fund Value, whichever is higher as Death Benefit for 1Key Features Benefit of Highest NAV recorded during the entire policy term Guaranteed benefit of minimum NAV of Rs 15 at maturity Policy term is 10 years but the policy holder has to pay premium for only 5 years Pay Option and both Sum Assured + Fund Value as Death Benefit for 5-Pay Option. The Maturity Benefit is the Fund Value according to the fund option selected.

Key Features: There is an option of choosing Dynamic where Asset the aim Allocation Fund Fund your

professional to increase

Benefits Death Benefit In case of death of the policy holder, the nominee gets the Sum Assured (minus partial withdrawals) or Fund

Managers portfolio

Loyalty Addition of 2% of the fund value is provided at maturity There are 3 options for Highest NAV

Value, whichever is higher. Death benefit shall exclude any rider premiums and deduct any previous partial withdrawals.

Guarantee Fund, which needs to be selected at inception


o

Maturity Benefit - If the policy holder survives the policy term, then he/she gets the Fund Value. There are two types of investment fund options in this policy. So if the policy holder chooses Highest NAV Guaranteed Fund then he/she will get a guaranteed return as per the highest NAV attained during the period subject to a minimum guaranteed NAV of Rs.15
o o

Highest NAV Fund AGuarantees the highest recorded NAV within the first 7 years subject to a minimum of Rs 10 Highest NAV Fund BGuarantees 110% of the highest recorded NAV within the first 7 years subject to a minimum of Rs 11 Highest NAV Fund CGuarantees the highest recorded NAV within the first 7 years subject to a minimum of Rs 15

Income

Tax

Benefit

- Life

Insurance The Sum Assured can be increased and decreased at any policy anniversary Benefits : Death Benefit In case of death of the Life Insured, the nominee would get Sum Assured or the Fund Value, whichever is higher for 1Pay Option and both Sum Assured + Fund Value for 5-Pay Option.

premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C. The maturity amounts you receive from this plan are exempt from tax under section 10(10D) Eligibility: Minimum Entry Age: 14 Years Maximum Entry Age: 55 Years Policy Term: 10 Years Premium Paying Term: 5 Years Minimum Premium: Rs 50,000 Annual Mode Lock in period: 5 Years Minimum Maturity Age: NA Maximum Maturity Age: 65 Years

Maturity Benefit On maturity, the Fund Value is paid to the policyholder according to the investment option chosen.

Income Tax Benefit

- Life

Insurance

premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

Regular payment: minimum Rs.50000 Single Premium: NA Payment Modes: Yearly Top Up Premium: NA Other Details: Investment Fund Options Under this plan the policy holder gets the following 2 investment options: Highest NAV Guarantee Fund Free asset Allocation: There are 5 funds under this option Short Term Fund Income Fund Balanced Fund Blue Chip Fund Opportunities Fund

Eligibility : Minimum Entry Age: 8 Years Maximum Entry Age: 70 Years Policy Term: 10 Years Premium Paying Term: 1, 5 Years Premium Payment Mode: Annual Minimum Maturity Age: 18 Years Maximum Maturity Age: 80 Years in case of one pay, 75 Years in case of five pay Other Details: Investment Fund Options There are 12 Investment Funds available Opportunities Fund Multi Cap Growth Fund Bluechip Fund Multi Cap Balanced Fund

Riders There are no riders in this policy.

Switching

- No

option

to

switch

the

Income Fund Money Market Fund Return Guarantee Fund Dynamic P/E Fund Maximiser V Fund Highest NAV Fund

investment option is available in this plan. Either Highest NAV Guarantee Fund or Free Asset Allocation option needs to be selected right at inception.

Partial Withdrawal - You are allowed to make partial withdrawals in this policy after 5 complete policy years or when the life insured is at least 18 years of age, whichever is later. The minimum amount of partial withdrawal should be Rs. 10,000. The

Highest NAV Fund B Highest NAV Fund C Rider There is 1 rider available in this policy Waiver of Premium on Critical Illness Rider Switching - Switching is allowed within Fixed Portfolio Strategy. Switching from a

maximum partial withdrawal that can be

done throughout the policy term is 300% of non-guaranteed NAV Option to Guaranteed the original regular premium. NAV Option is not allowed.

Partial Withdrawal - Partial withdrawals are allowed only after completion of 5 policy years or the life insured is at least 18 years old.

Conclusion :
8years.

Minimum age of entry in HDFC is 14 years were as in LIC this is

There are 3 options for Highest NAV Guarantee Fund in ICICI There are 2 fund option is available in HDFC SL and 12 investment options available in ICICI plans Rider option is available only in ICICI i.e., Waiver of Premium on Critical Illness Rider

The comparison study of ULIP plan between HDFC SL And BSLI


HDFC SL CREST
Plan Name: Crest

BSLI Dream Endowment Plan


Plan Name: Dream Endowment

Insurer: HDFC SL Insurance Company Insurer: Birla Sun Life Insurance Category: Unit Linked Insurance Plan limited Category: Unit Linked Insurance Plan Objective: Financial protection of family and good return on investment Policy opening date 28th August 2010 Objective: Financial protection of family and good return on investment

HDFC SL Crest is a unit-linked insurance This is a unit-linked insurance policy (ULIP) policy (ULIP) where the insurance company where the premium amount is invested in the does not carry the risk associated with the markets (debt, equity and cash market investment of premiums paid by the policy instruments). The value of investments may holder. Since the premiums are invested in go up or down, hence the risk in ULIPS is the markets the investment risk is borne by borne by the policy holder and not by the the policy holder insurance company. Key Features Benefit of Highest NAV recorded during the entire policy term Guaranteed benefit of minimum NAV of Rs 15 at maturity Policy term is 10 years but the policy holder has to pay premium for only 5 years

Key Features The policy adds a certain guaranteed amount to your investments from the 10th policy year Option to choose a specific Guaranteed Savings date when the Fund Value would be paid out to the Life Insured Option to increase Sum Assured by opting for Enhanced Sum Assured Benefits;

Benefits

Death Benefit In case of death of the Death Benefit In case of death of the policy policy holder, the nominee gets the Sum holder, the nominee gets Basic Sum Assured Assured (minus partial withdrawals) or Fund + Fund Value + Enhanced Sum Assured (if

Value, whichever is higher. Death benefit opted). Death benefit shall never be less than shall exclude any rider premiums and deduct 105% of total basic premiums paid to date any previous partial withdrawals. minus any previous partial withdrawals. Maturity Benefit - If the policy holder Maturity Benefit - If the policy holder survives the policy term, then he/she gets the survives the policy term, then he/she gets the higher of Fund Value + Guaranteed Savings Fund Value. There are two types of Fund at maturity. investment fund options in this policy. So if the policy holder chooses Highest NAV Income Tax Benefit - Life Insurance Guaranteed Fund then he/she will get a premiums paid up to Rs. 1,00,000 are guaranteed return as per the highest NAV allowed as a deduction from the taxable attained during the period subject to a income each year under section 80C. The minimum guaranteed NAV of Rs.15 maturity amounts you receive from this plan are exempt from tax under section 10(10D) Income Tax Benefit - Life Insurance

premiums paid up to Rs. 1,00,000 are Eligibility allowed as a deduction from the taxable income each year under section 80C. The Minimum Entry Age: 1 Year maturity amounts you receive from this plan Maximum Entry Age: 65 Years are exempt from tax under section 10(10D) Eligibility: Minimum Entry Age: 14 Years Maximum Entry Age: 55 Years Policy Term: 10 Years Premium Paying Term: 5 Years Minimum Premium: Rs 50,000 Annual Mode Lock in period: 5 Years Minimum Maturity Age: NA Maximum Maturity Age: 65 Years Minimum Age At Maturity:18 Years Maximum Age at Maturity: 75 Years Minimum Policy Term: 10 Years Maximum Policy Term:30 Years Minimum Premium Paying Term: 5 Years, Lock in period: 5 Years Minimum Premium: Rs 12,000 Annual Mode Premium Payment Frequency: Annual, SemiAnnual, Quarterly, Monthly Other Details: Investment Fund Options Under this plan the policy holder gets the following fund options: Fund Enhancer

Regular payment: minimum Rs.50000 Single Premium: NA Payment Modes: Yearly Top Up Premium: NA Other Details: Investment Fund Options Under this plan the policy holder gets the Critical illness (or dread diseases) benefit following 2 investment options: Highest NAV Guarantee Fund Free asset Allocation: There are 5 funds under this option Short Term Fund Income Fund Balanced Fund Blue Chip Fund Opportunities Fund Switching - Since this policy has only one choice of investment fund, there is no switching facility. Increased death benefit / Term rider Permanent disability benefit Rider ; Accidental death benefit

Waiver of premium benefit

Hospital cash benefit

Riders There are no riders in this policy.

Partial Withdrawal - The policy holder is allowed to make partial withdrawals in this

Switching

- No

option

to

switch

the policy after completing 5 policy years or

investment option is available in this plan. when the Life Insured is 18 years of age, Either Highest NAV Guarantee Fund or Free whichever is later. The minimum amount of Asset Allocation option needs to be selected partial withdrawal should be Rs. 5000. There right at inception. is no maximum limit, but a minimum Fund Value of Rs. 25,000 needs to be maintained. Partial Withdrawal - You are allowed to make partial withdrawals in this policy after 5 complete policy years or when the life insured is at least 18 years of age, whichever . is later. The minimum amount of partial withdrawal should be Rs. 10,000. The

maximum partial withdrawal that can be

done throughout the policy term is 300% of the original regular premium.

Conclusion: Minimum age of entry in HDFC is 14 years were as in BSLI 1years. Rider option is available only in BSLI No switching option will be available

Minimum premium in HDFC SL Rs 50000/- whereas in BSLI Rs 12000/-