HDFC Gramin Bima Mitra Yojana

HDFC Standard life takes the step for providing insurance solution to the rural areas. HDFC Gramin Bima Mitra Yojana is specially designed for the people of rural areas.

A single premium of Rs.500/- covers the individual and no further premiums are required to pay for the insurance. The entry age is 18 years to 50 years.

Benefits-
Maturity Benefit-
On survival of the life assured to the maturity which is 3 years, a guaranteed maturity benefit of Rs.750/- is payable.

Death Benefit-
In the event of death of the life assured before maturity, the death benefit of Rs.5000/- is payable to the nominee.

Surrender Benefit-
On surrender, the guaranteed surrender value is payable which are Rs.500 for 1st  year, Rs.575/- for 2nd  year and Rs.650/- for 3rd  year.

Tax benefit-
Premium paid towards the insurance is eligible for tax benefit under section 80C and benefit received under the plan is exempt from tax under section 10(10D) of the Income Tax Act,1961.