HDFC SL Classic Assure – Investment cum Insurance – Is it worth?

POSTED BY Raghavendra ON December 11, 2013 9:04 pm COMMENTS (8)

Hi,

I’m planning to invest 30,000 per month and recently I came to know about HDFC SL Classic Life Assure plan. What are the things I need to know before I invest in this?

I understood the death benefit in this plan. But I don’t understand the maturity benefits in this plan if I survive the period, more specifically, the reversionary bonus.

Kindly advise.

8 replies on this article “HDFC SL Classic Assure – Investment cum Insurance – Is it worth?”

  1. Raghavendra says:

    Have to endure all the stamp charges, service charges and processing fee during cancellation 🙁 Again, better late than never as you said!

  2. ashalanshu says:

    Dear Raghav, better late than never. 🙂

    Thanks

    Ashal

  3. Raghavendra says:

    Ha ha. 🙂 Okay. I’ve to go and surrender the policy now. Good learning. Bad decision. The problem is I bought Manish’s book 16 financial principles after I paid out for this Classic assure scheme 😀

  4. ashalanshu says:

    Dear Raghavendra, you got it already. The policy is beneficial but not for you or your family. 🙂

    thanks

    Ashal

  5. nlvraghavendra says:

    Okay. I got it. I understand what you are trying to say :). I’m into this forum for quite a while and hence I understand the importance of sercurities in terms of term insurance etc. But my question is different.

    In the policy document they are not mentioning any bonus percentage as stated by the agent. They are mentioning only the sum assured. So how can I trust it? Do I need to get it in writing. Also the sum assured is close to 1,90,000 whereas I myself paying 2,10,000 for the period of 7 years. I believe the difference goes to the commission, stamp charges, service charges etc. So in what it is beneficial? I’m just trying to understand this instrument.

    Thank you 🙂

  6. ashalanshu says:

    Dear Raghavendra, I’m not asking about no claim bonus. I’m asking about return pat. Just like your life insurance polciy should give you someting in return, why are you not getting it from your vehicle insurance policy? In a sense, is your prem. for your vehicle not a waste as no earning for you from it?

    thanks

    Ashal

  7. nlvraghavendra says:

    I believe you are asking about no claim bonus. I own a car and a bike. I do get a no claim bonus in my car insurance. Not sure about my bike insurance. But I have to check my insurance document to tell you the exact amount.

  8. ashalanshu says:

    dear Nlvraghavendra, do you own a vehicle? if your answer is yes, how much money you are getting back from your vehicle insurance policy each year if there is no claim?

    Thanks

    Ashal

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