HDFC Group Pension premium payment mode/s includes Regular Pay and Single Pay. HDFC Life Group Pension Plan Benefits can be availed only after payment of all the premiums is done. Regular payment includes payment of premium at specific intervals. Limited payment includes payment of premium for a specific amount of time say 3 to 5 years whereas Single payment refers to payment of a lump sum amount of money in one go.
HDFC Group Pension premium amount indicates the minimum premium or maximum premium one can pay towards their insurance plan. Premium is the amount of money you have to pay to the life insurance company against your life cover. Some companies impose a limit on minimum and maximum premiums one can pay towards a single policy drawn. Sometimes this limit is fixed irrespective of the amount of sum assured whereas for some plans these values vary according to the type of plan, minimum sum assured, age of the life insured, etc. Details of premium limits for HDFC Life Group Pension Plan are as follows:
Premium payment options for HDFC Life Group Pension Plan are the ways in which premium can be paid by the life insured to HDFC Standard Life Insurance Company Limited. For this plan, options to pay the premium include Regular Pay and Single Pay. Some HDFC Life Group Pension Plan Provisions include riders in which premium payment can be waived off. Within regular pay mode, there five options through which premium can be paid. These options are: Annual payment, Semi-annual payment, quarterly payment, monthly payment and payroll savings program. Not all will be applicable for all the insurance plans.
Top up is a facility which is generally provided in Unit Linked Life Insurance Policies. HDFC Group Pension premium top-up is an additional amount of money that can be paid along with the premium to get returns. Top up premium is allowed for this plan. Top up premium can be used to acquire additional gains in a life insurance policy. It can be paid any time during the policy term at irregular intervals excluding the basic regular premium payment.
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