- Webpages
- Documents
- HDFC Life ClassicAssure PlusInvestment
- HDFC Life ClassicAssure PlusInvestment
- HDFC Life ClassicAssure PlusInvestment
For NRI Customers
(To Buy a Policy)
-
![Contact Image]()
Call (All Days, Local charges apply)
-
![Contact Image]()
Email ID
-
![Contact Image]()
Whatsapp
(If you're our existing customer)
-
![Contact Image]()
Call (Mon-Sat, 10am-9pm IST, Local Charges Apply)
-
![Contact Image]()
Email ID
For Online Policy Purchase
(New and Ongoing Applications)
-
![Contact Image]()
Call (All Days & Toll free)
-
![Contact Image]()
Schedule a call
-
![Contact Image]()
Whatsapp
-
![Contact Image]()
Give missed call to buy a policy
-
![Contact Image]()
Email
Branch Locator
-
![Contact Image]()
Locate a branch
For Existing Customers
(Issued Policy)
-
![Contact Image]()
Whatsapp
-
![Contact Image]()
Call (Mon to Sat, from 10 am to 7 pm, Call charges apply)
-
![Contact Image]()
Email
Fund Performance Check
-
![Contact Image]()
Call (Missed Call)
Why to Buy Term Insurance under the MWP Act
But what if we tell you buying a term insurance plan is only half the work done and that if it's not done right your family might not get benefitted by it.
Let me explain, should anything happen to you, your life insurance should not become the legal property of your creditors (unless you wish that to happen) and the money should actually reach to your family.
For the above to happen you need to take the leverage of a legal safeguard called the Married Women Property Act 1874 (MWP).
Under the Married Women Property (MWP) Act 1874 a woman's property is protected from relatives, creditors, and other miscreants who might take advantage of her situation.
The said Act also covers Insurance plans under Section 6 which ensures that every policy availed under the MWP Act by her husband may not be attached by courts for repayment of his debts.
The biggest reason for this Act is because a lot of times, after the death of a loved one, there is a dispute between family members and creditors about the money left behind by him or her.
Buying a term insurance protection plans under the MWP Act thus makes sure that the money you intended your family is used by them and them alone and that other person can have access to that money.
To ensure this there is a simple yet very important step that you need to ensure when you buy Term Insurance - Select 'Yes' when asked a question on whether you want to buy it under the MWP act.
Then proceed to add the details of your nominees as trustees and by the plan.
Unfortunately, you cannot convert an already existing term insurance policy plan to be covered under this Act and thus have no other choice other than opting for a new term insurance policy taken under the MWP Act.
Just so you know there is no extra charge for buying a term insurance under the MWP Act and that it is totally free and should be taken advantage of.
In case you are planning to buy Term Insurance, please click here and make sure that you select 'Yes' when asked if this policy should be covered under MWP Act 1874. Please check the other details by clicking the mentioned link: https://www.hdfclife.com.
Related Articles
Term Plan Articles
Investment Articles
Savings Articles
Life Insurance Articles
Tax Articles
Retirement Articles
ULIP Articles
Subscribe to get the latest articles directly in your inbox
Health Plans Articles
Child Plans Articles
Popular Calculators
Francis Rodrigues
Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.
Written By:
Vishal Subharwal
Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.
Reviewed By:
Here's all you should know about life insurance.
We help you to make informed insurance decisions for a lifetime.
HDFC Life
Reviewed by Life Insurance Experts
HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER
We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.
Popular Searches
- Term Insurance Calculator
- Investment Plans
- Investment Calculator
- Investment for Beginners
- Best Short Term Investments
- Best Long Term Investments
- 5 year Investment Plan
- savings plan
- ulip plan
- retirement plans
- health plans
- child insurance plans
- group insurance plans
- income tax calculator
- bmi calculator
- compound interest calculator
- income tax slab
- Income Tax Return
- what is term insurance
- Ulip vs SIP
- tax planning for salaried employees
- HRA Calculator
- Annuity From NPS
- Retirement Calculator
- Pension Calculator
- nps vs ppf
- short term investment plans
- safest investment options
- one time investment plans
- types of investments
- best investment options
- best investment options in India
- Term Insurance for Housewife
- Money Back Policy
- 1 Crore Term Insurance
- life Insurance policy
- NPS Calculator
- Savings Calculator
- life Insurance
- Gratuity Calculator
- Zero Cost Term Insurance
- critical illness insurance
- itc claim
- deductions under 80C
- section 80d
- Whole Life Insurance
- benefits of term insurance
- types of life insurance
- types of term insurance
- Benefits of Life Insurance
- Endowment Policy
- Term Insurance for NRI
- Term Insurance for Women
- Term Insurance for Self Employed
- Benefits of Health Insurance
- Health Insurance for Senior Citizens
- Health Insurance for NRI
- Best Term Insurance Plan for 1 Crore
- personal accident insurance
- Annuity Calculator