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HDFC Life Sanchay Plus Plan: Your Guide to Guaranteed Returns and Tax Benefits

HDFC Life Sanchay Plus Plan: Your Guide to Guaranteed Returns and Tax Benefits
December 07, 2023


Life may be full of uncertainties, but your finances need not be so unpredictable. With the best savings plan in your portfolio, you can secure the future of your family and ensure that you meet your long-term financial milestones easily. One such savings plan is the HDFC Life Sanchay Plus policy.

HDFC Life Sanchay Plus: An Overview

If you are looking for an investment option that carries little to no risk and also offers you various benefits, the HDFC Life Sanchay Plus is one of the best savings plans available. It is a traditional endowment policy that gives a life cover as well as guaranteed financial benefits.

The life cover is valid over the policy term. In case something untoward happens to you during this period, the death benefits guaranteed under the policy are paid out to your nominee(s). However, if you survive the policy term, you will receive the financial benefits guaranteed at maturity. What’s more, if you need income tax-saving options to reduce your overall tax burden, this savings plan helps you achieve that goal too.

HDFC Life Sanchay Plus: Plan Options

You can choose from four different plan options at the time of purchasing the HDFC Life Sanchay Plus policy. They include the following:

  • Option 1: Guaranteed Maturity

    Under this policy option, you receive a guaranteed lump sum benefit at maturity. This option may be suitable for you if you require a lump sum amount to meet specific long-term life goals or expenses when the policy attains maturity — like debt foreclosure, home renovation or growing your retirement fund.
  • Option 2: Guaranteed Income1

    At maturity, this plan option gives you guaranteed regular income payouts for a fixed term of 10 or 12 years, starting from the year after the end of the policy term. This option may be suitable if you are looking for ways to supplement or replace your primary income to fund your children's education or manage any unpaid loans.
  • Option 3: Long-Term Income

    Under this option, you receive guaranteed regular income over the long term, for 25 or 30 years. This option also offers the return of premium benefits at the end of the payout period. You can choose this variant if you wish to secure an alternate or additional source of income to cover your regular expenses and support your post-retirement lifestyle.
  • Option 4: Life-Long Income

    As the name indicates, you get guaranteed regular income up to age 99 years under this plan option. It is suitable for you if you wish to enjoy guaranteed financial support throughout your life, meet your everyday expenses and maintain your standard of living after you retire.

5+ Reasons to Choose the HDFC Life Sanchay Plus Plan

If you are looking for the best savings plan to protect your family and secure your long-term goals, the Sanchay Plus policy from HDFC Life may be an ideal choice. Here’s why.

1. Long-Term Life Cover

With policy terms extended up to 20 years, this savings plan from HDFC Life gives your loved ones long-term financial protection. You can rest assured that even in your absence, the death benefit payouts from the policy will help them meet their everyday needs and life goals easily.

2. Guaranteed Benefits2

The guaranteed maturity benefits from the HDFC Life Sanchay Plus plan  allow you to take care of your long-term life goals. You can repay or foreclose your debts, pay for your children’s education, renovate your home or even fund your business venture. The maturity benefits from this savings plan also add to your retirement corpus and/or income.

3. Flexible Policy Features

Various aspects of the policy are flexible and customisable. For instance, you can choose the policy term based on the number of years over which you need financial protection for your loved ones. You also have the option to select from single premium, limited premium and regular premium options.

4. Choice of Plan Options

The HDFC Life Sanchay Plus Policy is one of the best savings plans in India because you can choose from four different plan options, as outlined above. This makes the plan suitable for you — whether you require lump sum payouts or regular income over the long term. You can opt for the plan variant that best fulfils your specific financial requirements at policy maturity.

5. Tax Benefits

The HDFC Life Sanchay Plus Policy also offers tax benefits under different sections of the Income Tax Act4.    

6. Additional Protection with Riders

In addition to the life cover and financial benefits offered by the base policy, you can also opt for enhanced protection via add-on riders3. By paying the additional rider premium at the time of purchasing the policy, you can choose from the following rider options from HDFC Life:

  • Income Benefit on Accidental Disability Rider
  • Critical Illness Plus Rider

Wrapping It Up

Now that you know how the HDFC Life Sanchay Plus plan works and the benefits it offers, you can make an informed decision about buying this policy. If you decide to purchase it, keep in mind that the life cover is only valid as long as you pay the premiums due on time.

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ARN - ED/11/23/6369  

Francis Rodrigues 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.

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Author Profile Written By:
Vishal Subharwal 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.

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Reviewed By Reviewed By:
HDFC life
HDFC life


Reviewed by Life Insurance Experts


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.

1. An additional income is payable in case of higher premium amount, please refer to the Enhanced Benefit for High Premium Policies.

2. Guaranteed Benefit is paid on survival during policy term provided all due premiums are paid during the premium payment term

3. For all details on Riders, kindly refer to the Rider Brochures available on our website.

4. Tax benefits are subject to conditions under Sections 80C, 80D, Section 10(10D) and other provisions of the Income Tax Act, 1961.


HDFC Life Sanchay Plus (UIN:101N134V19) is a non-participating, non-linked savings insurance plan.

HDFC Life Income Benefit on Accidental Disability Rider (UIN: 101B013V03, Form No.: R501-21-01) is a Non-Linked, Non-Participating Rider.

HDFC Life Critical Illness Plus Rider (UIN: 101B014V02, Form No: R501-23-01) is a non-linked, non-participating rider.