What is your take on the HDFC Life ProGrowth Plus plan?

Compared to other investment options, HDFC Life ProGrowth Plus is one of the most sought-after. Why? The reasons are ample. The main objective of the plan is to save now, so that you can secure your future. This plan helps you to enjoy the pros of a life cover and make an investment strategy for you if you have a higher risk appetite and need for higher returns.

A ULIP plan is most lucrative these days, and given the fact that HDFC Life ProGrowth Plus is a ULIP plan that allows the investor to channelize their savings so as to make the most of equities. If you know about the performance of the plan in the last few years, you will know whether you would want to invest in it.

Performance of HDFC Life ProGrowth Plus in last few years

You should know that India is under insured. According to statistical records, the impact of life insurance plan was 3.1% in 2013-2014, in contrast to 11.7% and 8.8% of Hong kong and UK, respectively. However, over the years, Indians learned that the problem is persistent and can turn out costly if common investor does not know the difference between investing and insurance. HDFC did a great job of minimizing the hassles of insurance and investment by introducing HDFC Life ProGrowth Plus.

Therefore, it can be said that the plan is beneficial in all circumspect. Many people are of the notion that they can save a lot of money by replacing assets. However, with insurance all hopes seem to crash if an unforeseen event happens. In that way a HDFC Life Insurance serves you excellently.

The Plan has positive factors, they are:

The plan gives you the freedom to choose from a range of funds like balanced fund, income fund, opportunities fund and clue chip fund. The plan also gives you the freedom to choose the sum assured. Also, with this plan EMI is available for Bank credit card holders.

In my opinion, you should choose HDFC Life ProGrowth Plus because:

·         The plan gives you the best and highest New Asset Value Guaranteed return.

·         The plan comes with partial withdrawal benefits that are able to meet financial contingencies.

·         The best part of HDFC Life ProGrowth Plan is that you can choose between Extra and Life options.

·     The plan entails sum assured with additional benefits on the death of the insured if it happens by accident. This option comes under Extra Life option.

·      You can create you desired investment plan as per your risk tolerance capability and expectations of returns.

·         You also get to enjoy tax benefits under Section 10(10D) and 80C under the Income Tax Act 1961.

·         It is true that there was a time when ULIPs suffered a major downfall. People were turned to selecting other long term investments for their life cover and financial investment. However, recently there were many revolutionary changes that have helped decrease acquisition and maintenance cost. So far, HDFC Life ProGrowth Plan is one of the best ULIP plans as the perks are higher as you stay invested for longer time. This saving plus investment plan brings bilateral benefit to the investor and the insuree.

·         Also, with the plan, you get a simplified investment option that offers you coverage for insurance and also brings amazing investment returns. In addition, it gives you loyalty on the 10^th year of the plan.

Buy HDFC Life ProGrowth Plan since to me it is one of the best ULIPs that can fetch you return over a long period and provides security to your family without any financial burden.