HDFC Loan Cover Term Assurance Plan
This plan aims to protect your family from your loan liabilities in case of your
unfortunate demise within the policy term. It provides the beneficiary with a lump
sum amount, which is a decreasing percentage of the initial Sum Assured. This means
that as the outstanding loan decreases as per the loan schedule, the cover under
the policy also decreases as per the policy schedule.
Features
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Advantages
- Flexibility to choose the Sum Assured.
- Decreasing Sum Assurance as the outstanding loan decreases ensures that you do not
pay for the protection you don’t need.
- Additional Optional Benefit is available at a nominal cost.
- Option of paying single premium or regular premium.
- Tax benefits are offered under section 80C, 80 D and 10(10D) of the Income Tax Act,
1961.
For more details on risk factors, terms and conditions, please read the Product
Brochure carefully and/or consult Financial Consultant before taking a decision.