HDFC Life Group Unit Linked Future Secure Plan

For Defined Benefit Schemes, on the death of a scheme member, an amount calculated as per the scheme rules will be paid by cancellation of units at the prevailing NAV. This benefit will be subject to a maximum of the funds in the policy available at the day the benefit is payable.

For Defined Contribution Schemes, member fund value shall be payable.

In addition to the above, a one-time sum assured of Rs. 5,000 will be paid for Non Superannuation Schemes like Gratuity Schemes, Leave Encashment Schemes, PRMS and other Benefit Schemes such as Benevolence Schemes. No sum assured will be paid for Superannuation Schemes.

There will be no benefit payable on maturity.

Benefits on Scheme Member’s exit from the employer’s service due to retirement/resignation or termination

For Defined Benefit Schemes, an amount calculated as per the scheme rules will be paid by cancellation of units at the prevailing NAV. This benefit will be subject to a maximum of the funds in the policy available at the day the benefit is payable.

For Defined Contribution Schemes, member fund value shall be payable.

Benefits in Accordance with the Scheme Rules

The below benefits are applicable on occurrence of events (covered under scheme rules) where a benefit payment other than the ones mentioned above is required:

For Defined Benefit Schemes, an amount calculated as per the scheme rules will be paid by cancellation of units at the prevailing NAV. This benefit will be subject to a maximum of the funds in the policy available at the day the benefit is payable.

For Defined Contribution Schemes, member fund value shall be payable.

There will be no benefit payable on the survival of the scheme member.

For Defined Benefit Schemes, on the death of a scheme member, an amount calculated as per the scheme rules will be paid by cancellation of units at the prevailing NAV. This benefit will be subject to a maximum of the funds in the policy available at the day the benefit is payable and subject to the applicable guaranteed benefit at the time of benefit payment.

For Defined Contribution Schemes, death benefit will be higher of:

A. Member Fund Value OR

B. Applicable Guaranteed Benefit at the time of benefit payment

In addition to the above, a one-time sum assured of Rs. 5,000 will be paid for Non Superannuation Schemes like Gratuity Schemes, Leave Encashment Schemes, PRMS and other Benefit Schemes such as Benevolence Schemes. No sum assured will be paid for Superannuation Schemes.

There will be no benefit on maturity.

Benefits on Scheme Member’s exit from the employer’s service due to retirement/resignation or termination

For Defined Benefit Schemes, an amount calculated as per the scheme rules will be paid by cancellation of units at the prevailing NAV. This Benefit will be subject to a maximum of the funds in the policy available at the day the Benefit is payable and subject to the applicable guaranteed benefit at the time of benefit payment.

For Defined Contribution Schemes, it will be higher of:

A. Member Fund Value OR

B. Applicable Guaranteed Benefit at the time of benefit payment

Benefits in Accordance with the Scheme Rules

The below Benefits are applicable on occurrence of events (covered under scheme rules) where a benefit payment other than the ones mentioned above is required:

For Defined Benefit Schemes, an amount calculated as per the scheme rules will be paid by cancellation of units at the prevailing NAV. This Benefit will be subject to a maximum of the funds in the policy available at the day the Benefit is payable and subject to the applicable guaranteed benefit at the time of benefit payment

For Defined Contribution Schemes, it will be higher of:

A. Member Fund Value OR

B. Applicable Guaranteed Benefit at the time of Benefit payment

There will be no benefit on the survival of the scheme member.