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HDFC Life
Sanchay Plus
HDFC Life Sanchay Plus
UIN: 101N134V09Saving Plan that safeguards
your family’s future
Guaranteed1 benefits
as a lump sum
or as regular income
Life Long Income option available2
4 Plan Variants.
Why HDFC Life Sanchay Plus?
A Non-Participating, Non-Linked Savings Insurance Plan that offers secure future of family and shape up a legacy for them
Life cover to protect the family's future
Steady retirement income with Life Long Income Option.2
Guaranteed1 Benefit Payouts.
Guaranteed Income for a fixed term of 10, 12, 25, 30 years or lifelong.
Tax benefits as per prevailing tax laws.3
Return of total premiums paid at the end of payout period.4
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- Provided all due premiums have been paid and the policy is in force.
- This plan option is available if you are between the ages of 50 to 60 years.
- Tax benefits are subject to provisions as per Income Tax Act, 1961. Tax laws are subject to changes.
- Applicable for life long and long term income option.
Your Plan. Your Benefits
Flexibility to choose your policy and premium payment terms.
Select your core objective for buying an insurance cover
- Maturity Benefit
- Death Benefit
Maturity Benefit
Guaranteed Maturity Option
-
Equal to Guaranteed Sum Assured on Maturity plus accrued Guaranteed1 Additions.
-
Disclaimer:
- Guaranteed Sum Assured on Maturity is total Annualized Premium payable under the policy during the premium payment term.
Guaranteed Income Option
- Guaranteed Income for fixed term of 10 or 12 years upon payment of all due premiums and life assured surviving the policy term.
Life Long Income Option
-
Guaranteed income up to age 99 years and a return of total premiums paid at the end of payout period upon payment of all due premiums and life assured surviving the policy term.
Long Term Income Option
-
Guaranteed income for fixed term of 25 or 30 years and a return of premium at the end of the payout period upon payment of all due premiums and life assured surviving the policy term.
Check Eligibility Criteria
Before buying HDFC Life Sanchay Plus
ELIGIBILITY CRITERIA
Eligibility Criteria |
Plan Option |
Minimum |
Maximum |
|||
|---|---|---|---|---|---|---|
AGE AT ENTRY (years) |
Guaranteed Income |
51 |
60 |
|||
Guaranteed Maturity |
51 |
|||||
Life Long Income |
50 |
|||||
Long Term Income |
51 |
|||||
AGE AT MATURITY (years) |
Guaranteed Income |
18 |
73 |
|||
Guaranteed Maturity |
18 |
80 |
||||
Life Long Income |
56 |
73 |
||||
Long Term Income |
18 |
73 |
||||
Minimum Installment Premium |
All Options |
Annual: ₹30,000 |
||||
Maximum Installment Premium |
All Options |
No limit, subject to Board Approved Underwriting Policy (BAUP) |
||||
For non POS Variant.
- Risk cover starts from date of commencement of policy for all lives including minors. In case of a minor life, the policy will vest on the Life Assured on attainment of age 18 years.
All ages mentioned above are age last birthday.
The minimum premium amounts are exclusive of taxes and other statutory levies as applicable.
For more details on risk factors, terms and conditions, please read the Product Brochure carefully and/or consult Financial Consultant before taking a decision.
Sample Illustration
Before buying HDFC Life Sanchay Plus
SAMPLE ILLUSTRATION
Illustration of benefits for healthy male aged 30 years (50 years for Lifelong Income Option), who pays ₹ 1 Lac + Taxes per annum throughout the premium paying term and survives the policy term.
Plan option |
Sum Assured |
Death Benefit at Inception2 |
Policy Term (years) |
Premium Paying Term (years) |
Maturity Benefit (₹) |
|---|---|---|---|---|---|
Guaranteed Maturity |
₹ 1,287,500 |
₹ 1,287,500 |
20 |
10 |
₹ 2,272,489 paid as a lump sum at Maturity |
Guaranteed Income |
₹ 1,287,500 |
₹ 1,541,484 |
13 |
12 |
Guaranteed Income1 of ₹ 2,15,270 p.a. from 14th year to 25th year (payout period of 12 years) |
Long Term Income |
₹ 1,287,500 |
₹ 1,287,500 |
11 |
10 |
Guaranteed Income1 of ₹ 1,00,682 p.a. from 12th year to 36th year (payout period of 25 years) + ₹ 10,30,000 at the end of payout period(36th year) |
Life Long Income |
₹ 1,081,500 |
₹ 1,081,500 |
11 |
10 |
Guaranteed Income1 of ₹ 93,730 p.a. from 12th year till age 99 years (38 years) + ₹ 10,30,000 at the end of payout period. |
- Guaranteed Income Amount payable in arrears on annual frequency during the payout period (After the policy term).
- Please refer to the Benefit Illustration for year wise Death Benefit.
A. The premiums are excluding applicable taxes & levies. B. This snapshot of illustration is only for HDFC Life Sanchay Plus Plan for a healthy male life. C. The values shown are for illustrative purpose only. For detailed illustration, please speak to our Financial Consultant/Broker. Please refer to the product brochure for details on benefits and conditions.
The Benefits shown in the sample illustration are For Policies Bought Online.
Customise your cover these riders
Riders in insurance have an important part in contingency planning. Top up your Saving Plan with them.
-
HDFC Life Income Benefit on Accidental Disability Rider
UIN: 101B013V03
Get additional income benefits over and above your Sum Assured in the event of total permanent disability due to an accident.
DOWNLOAD -
HDFC Life Critical Illness Plus Rider
UIN: 101B014V02
We pay a lump sum amount equal to Rider Sum Assured upfront if diagnosed with of any of the specified critical illnesses.
DOWNLOAD
-
HDFC Life Protect Plus Rider
UIN: 101B016V01
Get protected with a proportion of Rider Sum Assured in case of accidental death or partial/total disability due to accident or diagnosed with Cancer.
DOWNLOAD
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Have a question?
We’ll tell you everything you need to know about HDFC Life Sanchay Plus
1 What are the Plan Options available under HDFC Life Sanchay Plus?
There are four plan options available under HDFC Life Sanchay Plus:
Guaranteed Maturity: This option offers a guaranteed maturity benefit payable as lump sum at the end of policy term.
Guaranteed Income: This option offers a guaranteed regular income for a fixed term of 10 or 12 years.
Life Long Income: This option offers guaranteed regular income up to age 99 years plus return of premium at the end of payout period.
Long Term Income: This option offers guaranteed regular income for a long term of 25 or 30 years plus return of premium at the end of payout period.
5 What is the Death Benefit under Guaranteed Maturity Option?
In case of death of Life Assured during the policy term, the death benefit equal to Sum Assured on Death plus Accrued Guaranteed Additions shall be payable to the nominee.
Sum Assured on Death is the highest of:
10 times the Annualized Premium1, or
105% of Total Premiums paid2, or
Guaranteed Sum Assured on Maturity, or
an absolute amount assured to be paid on death, which is equal to the Sum Assured.
Sum Assured will be determined based on your entry age and the Annualized Premium you commit to pay in a policy year.
Upon the payment of the death benefit, the policy terminates and no further benefits are payable.
1. Annualized Premium shall be the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.
2. Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.
6 What is the Maturity Benefit under Guaranteed Income, Life Long Income and Long Term Income option?
Maturity Benefit is payable in the form of Guaranteed Income for a fixed term upon payment of all due premiums and life assured surviving the policy term.
a. Guaranteed Income: This option pays you a Guaranteed Income for fixed term of 10 or 12 years.
Premium Payment Term |
Guaranteed Income^ payable each year during the payout period |
|
Entry Ages: 5 to 50 years |
Entry Ages: 51 to 60 years |
|
10 years |
188% of Annualized Premium |
179% of Annualized Premium |
12 years |
209% of Annualized Premium |
194% of Annualized Premium |
b. Life Long Income: This option pays you a Guaranteed Income up to age 99 years plus return of premiums paid at the end of payout period.
Guaranteed Income^ payable each year during the payout period |
||
Premium Payment Term |
Policy Term |
Entry Ages: 50 to 60 years |
5 years |
6 years |
31.75% of Annualized Premium |
6 years |
7 years |
41% of Annualized Premium |
10 years |
11 years |
91% of Annualized Premium |
12 years |
13 years |
121% of Annualized Premium |
c. Long Term Income: This option pays you a Guaranteed Income for fixed term of 25 or 30 years plus return of premiums paid at the end of payout period.
Guaranteed Income^ payable each year during the payout period |
||
Premium Payment Term |
Policy Term |
Entry Ages: 50 to 60 years |
5 years |
6 years |
33.75% of Annualized Premium |
6 years |
7 years |
43.5% of Annualized Premium |
10 years |
11 years |
97.75% of Annualized Premium |
12 years |
13 years |
129.75% of Annualized Premium |
The amount of guaranteed income is a Percentage (%) of Annualized Premium1 and shall depend on Premium Payment Term. Please refer brochure for more details.
1Annualized Premiums excludes taxes and other statutory levies, extra premium on account of underwriting or payment frequency and rider premiums, if any
^ An additional income is payable in case of higher premium amount.
7 What is the Death Benefit under Guaranteed Income, Life Long Income and Long Term Income option?
In case of death of Life Assured during the policy term, the death benefit equal to Sum Assured on Death shall be payable to the nominee.
Sum Assured on Death is the highest of:
10 times the Annualized Premium1, or
105% of Total Premiums paid2, or
Premiums paid accumulated at an interest of 5% p.a. compounded annually, or
Guaranteed Sum Assured on Maturity, or
an absolute amount assured to be paid on death, which is equal to the Sum Assured
Sum Assured will be determined based on your entry age and the Annualized Premium you commit to pay in a policy year.
Guaranteed Sum assured on Maturity shall be present value of future payouts discounted at a rate of 9% p.a.
Upon the payment of the death benefit, the policy terminates and no further benefits are payable.
1 Annualized Premium shall be the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.
2 Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.
8 What if the death occurs during the payout period?
On death of the Life Assured during the Payout Period, the nominee shall continue receiving Guaranteed Income as per Income Payout Frequency & benefit option chosen till the end of Payout Period.
9 Can I receive lump sum under Guaranteed Income, Life Long Income and Long Term Income option during the Payout Period?
At any point of time during the Payout Period, you shall have an option to receive the future income as a lump sum, which shall be the present value of future payouts, discounted at a rate which is computed using the prevailing interest rates.
10 Is there any option where I can receive income for whole life?
Yes, Life Long Income option offers you a Guaranteed Income up to age 99 years.
11 Is there any benefit for High Premium Policies?
Yes, we also offer additional Maturity Benefit / Income Benefit for the policies with Annual Premium more than Rs. 1.5 lakhs.
| Annual Premium size | Additional Maturity Benefit (% of Total Maturity Benefit Payable) | Annual Additional Income (% of Annualised Premium) | ||||||||||||||
| Guaranteed Maturity Option | Life Long Income/ Long Term Income | Guaranteed Income | ||||||||||||||
| 5 pay | 6 pay | 10 pay | 5 pay | 6 pay | 10 pay | 12 pay | 10 pay | 12 pay | ||||||||
₹ 0 - ₹ 1,50,000 |
Nil | Nil | Nil | Nil | Nil | |||||||||||
₹ 1,50,001 - ₹ 2,99,999 |
0.5% | 0.6% | 0.75% | 0.75% | 0.80% | 0.75% | 1.25% | 1.00% | 1.25% | |||||||
₹ 3,00,000 - ₹ 4,99,999 |
1% | 1.1% | 1.5% | 1.25% | 1.40% | 1.5% | 2.50% | 2.00% | 2.50% | |||||||
| ₹ 5,00,000 and above | 2% | 2.1% | 2.25% | 1.50% | 1.70% | 2.25% | 3.00% | 2.50% | 3.00% | |||||||
12 What is the frequency of Guaranteed Income payable under plan options Guaranteed Income, Life Long Income and Long Term Income?
You can choose to receive the Guaranteed Income on Annual, Semi-Annual, Quarterly or Monthly frequency. Please refer brochure for more details.
13 Can I change the Plan Option once chosen?
No, Plan option once chosen at inception cannot be changed throughout the policy term.
14 Can income payout frequency and premium payment frequency be changed?
Yes, changes in income payout frequency and premium payment frequency are allowed.
15 Can the plan be offered under limited underwriting?
The plan can be applied by filing in the Short Medical Questionnaire (SMQ), which may not require you to go for medicals.
16 When does the plan acquire Guaranteed Surrender value?
The policy will acquire a Guaranteed Surrender Value (GSV) upon the payment of at least first two years’ premiums.
17 Do I have option to avail loan under the policy?
The policyholder can avail Loan under the policy provided the policy has acquired a surrender value and subject to terms and conditions as the Company may specify from time to time.
18 Is there any tax benefit available under this plan?
You may be eligible for tax benefits as per prevailing tax laws under Income Tax Act, 1961. Please note tax benefits are subject to change in tax laws.
- Provided all due premiums have been paid and the policy is in force.
- This option is available for entry ages 50 to 60 years.
ARN: EU/07/21/24429