Investment Plans

Savings Plan

Our Savings Plans are life insurance plans that offer you multiple avenues to save and to grow your money. These online investment plans help in systematic and disciplined investment ensuring that you and your family achieve your financial goals.

Click here to view the Specimen Policy Document of this plan.

Savings Plans are essentially life insurance plans that offer you an opportunity to save and build a corpus to meet your future needs. These are designed to help policy holders develop a regular savings habit, as well as give significant returns when you need them. In addition, savings plans offer insurance coverage, which means your family's financial needs are met even if you are not around to support them. Read More

Savings plans usually give a fixed amount of maturity benefit when the policy term ends. Some savings plans also ensure a regular income throughout the duration of the policy or as a part of maturity proceeds. Savings plans essentially help you in reaching your life goals, protect your family in case of any unforeseen circumstances and help create a corpus to pay liabilities in the future. Choosing the right savings plan that offers flexible features and caters to your specific requirement, can be one of the best investment decisions you make.

Savings plans are basically traditional life insurance products which can be clubbed with riders that can provide additional benefits in case of unforeseen emergencies. These optional riders include death benefit, critical illness rider, among others. Savings plans can be a great tool to help begin your savings journey with low risk plans that also give insurance cover.  Read Less

Savings Plan help you save regularly and be adequately prepared to meet family’s financial needs in the future.

These online investment plans offer various features that help meet your specific financial needs with investments made according to your appetite to take risks.

Our Savings Plan help you save ample amounts with the help of regular investments after taking into account your specific financial situation and future needs.

They also provide protection to your family and ensure all expenses are covered even in your absence.

Why you should buy Savings Plan?

The importance of life insurance has grown manifold in recent times with uncertainties around health, environment and professions. Unforeseen events like accidents, illness or death cannot just rob you of life, but your dependents can be left without an income and continued financial support for meeting emergencies, paying off liabilities or planning future goals.

Savings plans have a built in death benefit which ensures that the beneficiaries of your policy are financially secure even after you are no more. This becomes more crucial if you are the sole breadwinner and the family is dependent on your income. A savings plan will make them financially secure for their regular needs and help them pay off liabilities, even in the event of your untimely demise.

Savings plans help build a disciplined savings habit, thanks to the regular premium that need to be paid, ensuring that you put aside a regular sum at determined intervals. They help you budget your current expenses while ensuring that you have enough saved for the future. Savings plans also offer a fixed amount of maturity when the policy term ends, helping you to plan life goals like the purchase of a dream home. Long term financial goals like a child's education or marriage can also be met with the help of a prudent savings plan. Some plans also offer regular stream of income through the term of the plan, thus helping to supplement your income and helping you to lead a better lifestyle.

During your lifetime, savings plans help you meet your goals effectively, while helping you save taxes at the same time. Since savings plans have flexible features, they allow you to choose the right one depending on your risk appetite and your future financial requirements. Regardless of the life stage you are at, savings plans are an important tool to build your wealth while ensuring financial security for your family.

Savings Plan Buying Guide

Savings plans come in a wide variety of products and many savings plans can be bought online. First, you need to assess your financial requirements, and sort out your long term and short term goals. You should also determine your investment horizon and evaluate your risk appetite.

Factors such as the savings plan’s unique features, the flexibility it offers and additional benefits such as add-on riders should also be considered before buying online savings plans.

Financial goals

Goals change with each life stage and hence it is important to understand your short-term and long-term goals and the time that you estimate it would take to achieve them. Set an amount against each goal and then reverse plan to decide how much you need to put into a savings plan that will get you those funds in the future.

Riders, features and flexibility

Assess the benefits and features of the savings plan you choose to understand if it fits your requirements and risk taking appetite. Know the rider options that come with different plans to be able to choose the one that is right for you. Read the fine print in order to understand the eligibility criteria, various inclusions and exclusions and the documents you will need to buy the plan, so that you can make an informed choice.

Investment horizon

Decide your investment horizon in accordance with your long-term goals and financial needs. It will also help to decide whether the cover you have opted for is available to you need it.

Who should buy Savings Plan?

Every person who has a regular income should invest in savings plans in order to safeguard their dependents' interests and to ensure that future expenses are met without worrying about unforeseen events. Savings plans can be bought at any age and stage of life. They are a sound vehicle for encouraging the saving habit along with building wealth that the policy holders can use to meet long term goals. The insurance cover provided enables the policy holder to lead an active life without worrying about life's uncertainties.

Young persons who have just started earning can invest in savings plans so that they build up a disciplined savings habit and plan for their long term goals - like buying a home or starting a family. The regular amount that needs to be put aside into savings plans makes sure young people budget their expenses accordingly and build a corpus for their future at the same time.

Married persons with children should opt for savings plans as they can protect their family financially in case of death, illness or accident. Even if the breadwinner's income stops for any of these reasons, the benefits that accrue from the savings plans ensure that the family's financial needs will continue to be met. Savings plans also help to plan for long term goals like a child's higher education overseas or a lavish wedding that can eat significantly into the family's savings.

Self-employed and business persons running their own ventures can also opt for savings plans as these offer an umbrella of security for the dependents in case the business income dries up after death. Some savings plans also offer options where a regular stream of income is available to policy holders during the term of the plan.

Those who are in middle age or close to retirement can also go in for savings plans as a means of retirement planning. You can reap the benefits of systematic savings till the time you retire and then avail the maturity benefit and achieve your retirement goals of buying a second home, taking holidays or simply indulging in a new hobby without worrying about the loss of a regular salary.

If you have a home loan or any liability, it makes sense to invest in a savings plan to protect your dependents from being burdened by payments in case of your death. A prudent savings plan will allow you to save regular amounts which will be available to pay off any liabilities even if you are no longer around.

For those who are averse to risk and want to save by investing in safe products, a savings plan that combines traditional life insurance with maturity benefits can be the ideal solution.

Those looking to save tax can also opt for savings plans that offer tax benefits on the premium you invest as well as the sum assured received at the time of maturity, under Section 80C and Section 10(10D) as per prevailing Income Tax Laws.

*As per Income Tax Act, 1961. Tax benefits are subject to changes in tax law.

Benefits of Savings Plans

Savings plans can be advantageous in various ways to different people.

Financial protection

Essentially a life insurance product, savings plans make sure your loved ones do not suffer in case of your untimely demise and the consequent loss of regular income. Their financial needs get protected by the payout received as death benefit of the savings plan.

Financial discipline

Investing in a savings plan ensures that you put away a part of your income regularly into the policy, thus regulating your monthly budget and curtailing unnecessary expenditure. This savings habit can stand you in good stead through life.

Long term planning

Savings Plans help you accumulate wealth over time, by growing your corpus through regular premiums. This helps you plan for life goals in a systematic manner, be it the purchase of assets, funds needed for a child's higher education or an important event like a child's marriage. It can also help to plan systematically for your retirement years, when you cease to receive regular pay.

Tax benefits

Savings plans are essentially life insurance plans, so they attract the same tax benefits as other insurance plans. As per section 80 C of the Income Tax Act, you can avail exemption of up to Rs 1.5 lakh towards your premium payments every year.

*As per Income Tax Act, 1961. Tax benefits are subject to changes in tax law.

Flexible options

Savings plans realise that there are different goals and priorities for everyone and hence, offer a wide variety of flexible features that can be customised to suit individual needs. You can choose the right terms, payouts and premium payments according to your capital and risk appetite and select the plan that best meets your requirements.

Types of Savings Plan offered by HDFC Life

HDFC Life Sanchay Plus
HDFC Life Sanchay Plus, a non-participating, non-linked, savings insurance plan that offers guaranteed returns for you and your family. Read More
HDFC Life Sanchay Par Advantage
HDFC Life Sanchay Par Advantage, a life insurance solution which allows you to live an uncompromised life, whilst securing the future of your family and, ensuring you leave behind a legacy for them. Read More
HDFC Life Sanchay
Guaranteed Returns helps you to fulfill your responsibility with ease. Read More
HDFC Life Sampoorn Samridhi Plus
Build wealth and plan your legacy while enjoying lifetime coverage. Read More
HDFC Life ClassicAssure Plus
This plan helps you to achieve your future financial goals. Read More
HDFC Life Super Income Plan
A Regular Income plan with guaranteed benefits plus bonuses Read More
HDFC Life Uday
Benefits like guaranteed additions and bonuses while ensuring that your family receives a lump sum benefit in case of your unfortunate death. Read More
HDFC Life Pragati
“Grow your Savings, Secure your Future”. Each one of us desires a secure future for ourselves and our loved ones Read More
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Confused about what is the right Savings Plan for you ?

An income tax calculator is a simple online tool which can help you calculate taxes payable on your income

6 Simple Steps to Buy Savings Plan Online

Savings plans are life insurance products designed to help you make disciplined and periodic savings and cover your family financially in case of your untimely demise.

Today, you can buy a savings plan online without the need for visiting the office of an insurer or agent. All the information about savings plans is available online. You can research for the plans best suited to your requirements, check your eligibility for the same, upload the documents needed and make the payments online. Policies are usually despatched over e-mail and you can get notifications on your mobile phone as well.

Here are some simple steps you need to buy savings plans online

Step 1: Assess your financial goals and requirements. Knowing the approximate amount of funds you could need for a big expenditure in future or the funds required to sustain your dependents after you are not around will help you fix an amount that needs to be assured.

Step 2: Do your research thoroughly. Most insurers detail out their different savings plans on their websites, complete with inclusions and exclusions. Read the fine print about claim settlements and other terms and conditions before you decide on the savings plan you want to buy.

Step 3: Do a due diligence on the insurer you have shortlisted to evaluate the insurer's financial strength, reputation, service quality, reviews and discounts offered.

Step 4: Check the eligibility criteria, including the minimum and maximum ages at which you can opt for the policy, income brackets and the various proofs needed to buy a savings plan online.

Step 5: Submit the online forms, relevant proofs - including that of address, identity, income, and age.

Step 6: Receive the policy documents over email and relevant notifications over your mobile phone. Keep a record of all your investments in a folder so that you can refer to them easily whenever needed in an emergency.

How to choose the right Savings Plan?

Each individual has different financial needs and risk appetites. You have to consider the following factors before you choose the Savings Plan that is right for you.

Evaluate financial goals

Goals change for every person at different stages in life. Assess your short term and long goals, the time you need to achieve them and the funds required to fulfil them. This will enable you to work out how much you need to start putting away in a Savings Plan to accumulate the funds you desire. The goals can range from funding your children's education to building a house, to building a corpus for the retirement years.

Check features,riders and flexibility

Select features that are affordable for you and can meet your future needs. Make sure your plan can give you the flexibility to access your funds in case of an emergency, and whether you can get a loan against the funds. Check for various riders like accident, disability and illness that help you get additional coverage. With the right coverage and flexible options, one can enjoy protection as well as growth through Savings Plans.

Determine investment horizon

Choosing an investment horizon helps to ensure that the cover you have opted for is available when you need it. It also helps you map your long term goals and financial requirements which helps you choose the right plan accordingly.

Assess risk appetite

Savings Plans offer a variety of choices that cater to all risk appetites. Age and personal factors determine the amount of risk people can take while investing in Savings Plans. People who have a higher risk appetite can choose plans that offer lucrative returns and can choose more aggressive plans, while those who are risk averse can opt for conservative Savings Plans that offer more security but give relatively lower returns.

Review and compare

Do not go for the first savings plan that appeals to you. It is better to review and compare different plans, their features and benefits and then choose one that aligns with your future needs. Ideally, use a savings and income calculator to determine the ideal coverage and premium payable towards the savings plan.

Why choose HDFC Life Savings Plans?

HDFC Life Savings plans are life insurance plans that offer you multiple avenues to save and to grow your money. These online investment plans help in systematic and disciplined investment ensuring that you and your family achieve your financial goals, while staying protected financially at all times.

HDFC Life Savings plans help you make significant savings and grow your wealth with the help of regular investments after taking into account your specific financial situation and future needs. They also provide protection to your family and ensure all expenses are covered even in your absence. These online investment plans offer various features that help meet your specific financial needs with investments made according to your appetite to take risks.

The different savings plans offered by HDFC Life offer Life Insurance Cover which is a sum assured on death, flexibility of premium payment as well as tax benefits. Some plans also offer guaranteed lump sum at maturity.

In addition, the Tax calculator by HDFC Life, a simple and easy to use tool, helps calculate the amount of tax payable by you and allows you to choose the plan that fits your needs best.

How Long Should Be The Term Of Your Savings Plan?

Savings plans serve a variety of purposes - from insurance cover to long term wealth creation to meeting life goals. Each individual has different financial needs and different risk appetite. The term of investment in a savings plan should be determined after taking into consideration the following factors

  • Long term goals like retirement planning, purchase of house, child's education or marriage
  • Expected duration of employment
  • Targeted wealth creation or the corpus you wish to accumulate in a certain period
  • Since savings plans primarily offer insurance cover, you can opt for maximum coverage so that your productive life is covered

The function of savings plan is to help your family members meet their regular expenses and future needs even in your absence. Therefore, the ideal term of an online savings plan should end at a time when you have met all your life goals and saved enough for retirement.

It is typically difficult for you early in life to determine till when you will have accumulated enough savings to take care of all your needs for the rest of your life. This is the time when you will not need life insurance coverage. Since many of your large expenses such as your child’s higher education and marriage are likely to happen in your 40s and 50s, it makes sense to have your savings plan coverage all the way upto your retirement at the age of 58 or 60.

Of course, there are people who aspire to, and there are some who actually do, retire much earlier, say, in their 40s. The guiding principle remains the same. You keep the life cover as long as you don’t have enough savings to take care of you and your family for the rest of your life.

Why taking the longest tenure, early in life makes sense. A smart approach is to buy the savings plan plan early on in life, opting for the longest possible coverage. This ensures you benefit from the low premium during the long tenure of the savings plan. For instance, at the age of 25 you can take a term of 40 years as it would last till age 65. In this case, you would enjoy the low premium till the end of the term. Of course, as your income increases and lifestyle gets enhanced, besides you taking up loans, to cover all of them, you will need to periodically enhance your savings plan cover.

To sum it up, it is not only important for you to have adequate life insurance coverage but also to ensure that it stays that way till the time your family needs it. It is your responsibility to ensure that your family is financially prepared to face any eventuality.

Factors impacting Savings Plan premium

A number of crucial factors can impact the premium you pay on the plan you choose.


This is the primary factor that decides the premium you pay, although some savings plans are age agnostic as well. At a younger age, a person is less likely to suffer from an age-related disease and pass away prematurely, hence the premiums are lower. You can lock in a good savings plan at lower premium rates when you opt for a savings plan at a younger age. The insurer increases the premium rates as your age goes up, as the chances of a claim (due to death) also increase.

Policy period and sum assured

There's usually a higher premium if you opt for a longer policy period, since the probability of claims is higher.Choosing a term that terminates with your retirement and a policy amount that is enough to protect your family's financial needs is the wise option.

Medical history

A history of diseases that have tendency to run in the family and your own medical records as well as parameters like height and weight can raise flags about potential illness or obesity, and can impact the amount of premium you pay.

Smoking and drinking habits

Since research indicates that people who smoke are likely to contract more illnesses than those who do not and also have a higher mortality rate, insurance premiums for smokers tend to be higher than for non-smokers. The same goes for excessive drinking habits. It is prudent to disclose your smoking and drinking habits to the insurer before purchasing a plan.


Some professions or lines of work carry more risk and hence, insurers might charge a higher premium. It is important to make proper disclosures about your work and income to the insurer before finalising the policy.


Additional riders like critical illness or accidental death cover can attract an additional premium since you are opting for extra benefits by opting for such riders.


Savings Plan FAQ's

How much should I have in savings at 25?

There’s no magic number of exactly how much you should have in savings by the time you are 25. Assuming you have started working by this age, a good rule of thumb is to put aside 10 % of your salary each month into savings. If you get a raise or a bonus, you can put aside that much more. A smart way to go about this is to make a list of everything you spend money on every month, including the 'must spends' like rent, groceries and fuel to the 'feel good' expenses like eating out and spending on clothes, and then decide how much can be saved. Ideally, the amount you need to save should be put away at the start of each month before other expenses are met.

How much does the average person have in savings?

While Indian millennials do not save as much as their elders used to, expert estimates put the average savings of the Indian middle-class person at around ₹10,000 per month. Some simple thumb rules for savings say you should save 2 times your annual salary by age 35, or simply, save your age. This means that if you are in your 20s, you need to save 20% of your income, 30% if you are in your 30s and so on. In an uncertain world, it is better to save 30% of earnings to be prepared for any contingency.

How much money should I save before investing?

Several experts recommend saving 20% of your income every month. According to this analysis, which is known as the popular 50/30/20 rule, you should reserve 50% of your budget for essentials like rent, food and essentials, 30% for discretionary spending, and at least 20% for savings. Merely saving money allows you to put away part of your earnings regularly, but earns a lower return although with lower risk. On the other hand, investing allows you to earn a higher return, but you take on the risk of loss in order to do so. Experts say you should save an amount equal to six months of expenses before you start investing.  Some experts advise an eight-month emergency fund because that's about how long it takes an average person to find a job if you lose one and this amount can cover your expenses.

How to save tax by using saving insurance plans?

Savings plans can help you save tax while giving you insurance cover as well as growing your wealth. This helps build up your insurance portfolio while giving you tax benefits. Life insurance premiums are deductible, and come with life insurance tax benefit under Section 80C of the Income Tax Act. Premiums you pay towards life insurance in a savings plan are deductible up to a maximum of Rs 1.5 lakh. Also, proceeds received upon the death of the policy holder or upon maturity are tax free under Section 10 10(D).

Who should invest in Savings Plans?

Persons who have a regular income and who know they would require a lump sum amount after some years should invest in a savings plan. Savings plans are also good for working professionals, self-employed persons as well as business persons so that their long-term financial obligations can be fulfilled easily. For individuals who do not want to risk much and would like to grow their wealth through relatively safer mediums, savings plans are a good choice.

How do I get started with a long term Savings Plan?

Long-term investments give superior returns whenever they mature. This kind of investment is good if you are planning financially for the future of your child - education, marriage, and lifestyle. There are several long term investment options available and you must choose one carefully depending on your financial goals. You can choose one that gives you premiums that you can afford easily, and one in which you can stay invested for a certain number of years.  Reading up on information about the various savings plans available with HDFC Life can help you get started on your journey.

How do I check my Fund Value of my policy? (only for Unit-linked policies)

You can check the Fund Value of your policy under Policy Summary Section of My Account. To register for My Account, click here. You may also register for the SMS on the Move facility, where you can check the policy Fund Value via SMS. You can register for this service by typing "REG [space] [policy number]" and send it to 5676727 (charges applicable as per the service provider). To keep you updated about the performance of your policy fund, an Annual Unit Statement is also sent to your mailing address. You may even check the fund value via our IVR service by doing the following: Select Option 1- Policy Information and Press 1. You may also use our Missed Call service by giving a missed call on 08000006609 and wait to receive the Fund value of your policy via an SMS text.

What is Partial Withdrawal?

Most unit linked plans offer you the option of making lump sum withdrawals anytime during the "In force" and “Paid Up” status of the policy subject to the conditions explained in the policy document. Kindly refer to your policy document to know about the eligibility & charges levied for partial withdrawal.

How can I Pay the Investment Plan Premiums?

You can pay your investment plan premiums online via:


Credit card/ Debit card

Debit Card with PIN

SI on card

Whom should I contact for queries?

In case of any queries related to plan or form filling pls call our toll free number 1800 266 9777 or contact us at [email protected]
For submitting documents or any other query after premium payment, you can write us at [email protected] or call us on toll free number 1800 266 0315.
Post policy Issuance you can reach out our customer service desk on 1860 267 9999 (Local call charges apply) or write to us at [email protected]

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