Saving & Investment Plan
- HDFC SL ProGrowth Super II
- HDFC Life Progrowth Plus
- HDFC Life ClassicAssure Plus
- HDFC Life Super Savings Plan
- HDFC SL Progrowth Flexi
- HDFC Life Smart Woman Plan
- HDFC Life Invest Wise Plan
- HDFC SL Crest
- HDFC Life Super Income Plan
- HDFC Life Sanchay
- HDFC Life Pension Super Plus
- HDFC Life Personal Pension Plus
- HDFC Life Guaranteed Pension Plan
- HDFC Life New Immediate Annuity Plan
- HDFC Life Single Premium Pension Super Plan
HDFC Life Sanchay
Put your financial life on autopilot with Guaranteed Benefits
- Limited premium paying term of 5, 8 or 10 years with flexibility to choose policy term between 15 to 25 years.
- Financial Protection against untimely demise throughout the policy term.
- Guaranteed maturity benefit of 220% to 325% of the Sum Assured depending upon the policy term.
- Option to go for Short Medical Questionnaire eliminating tedious medical tests.
* For more details, please refer the product brochure
- Guaranteed Maturity Benefit provided all due premiums have been paid.
- Limited premium paying term of 5, 8 or 10 years.
- Flexibility to choose the policy term of 15 to 25 years.
- The flexibility to choose premium payment frequency i.e. monthly/quarterly/half-yearly/annually.
Features and Benefits of HDFC Life Sanchay Plan
Life is full of responsibilities and as a responsible individual you aspire to build a financially secure life for your loved ones. Guarantee on Returns helps you to fulfill your responsibility with ease.
HDFC Life Sanchay is a 'non-participating' limited premium paying endowment plan that offers guaranteed benefits along with flexibility to choose your investment horizon.
Our HDFC Life Sanchay Plan gives you:
- Guaranteed Additions: The plan offers guaranteed additions of 8% or 9% of sum assured accrued for each completed policy year payable at maturity
- Maturity Benefit: On your survival, at end of the policy term, you will receive lump sum benefit as aggregate of:
a. Sum Assured
b. Accrued Guaranteed Additions
Your aggregate Maturity benefit, that is guaranteed, will vary by policy term in a range of 220% to 325% of the Sum Assured
- No Medicals: You can take this plan without any medicals if you fulfill the short questionnaire eligibility. See product brochure to know more.
- Entry Age and Policy Term: The minimum age at entry is 30 days and maximum age at entry is 45 years. The minimum maturity age is 18 years and maximum is 70 years. The minimum policy term is 15 years and maximum policy term of the plan is 25 years.
- Fulfill your long term financial goals by saving for a limited period to enjoy guaranteed lump sum (sum assured plus accrued guaranteed additions) on maturity
- Provides protection to your family by way of lump sum payment in case of unfortunate demise during the policy term.
- You can choose to pay your premium as either Annually, Half-Yearly, Quarterly or Monthly depending on your convenience. You also have a range of convenient auto premium payment options.
- You can now avail loan on this plan. See Product brochure for details.
What are the tax benefits of the HDFC Life Sanchay Plan?
When you invest in the HDFC Life Sanchay, you can avail tax benefits under sections 80C and 10(10D) of Income Tax Act, 1961.
- Under Section 80C, You can save tax each year as premiums up to Rs. 1,00,000 are allowed as a deduction from your taxable income
- Under Section 10 (10D), the benefits you receive from this policy are completely tax-free subject to the exclusions.
The above mentioned tax benefits are subject to changes in the tax laws.
Commission for Life Insurance
As per RBI circular: RBI/2009-10/225 dated November 16, 2009, following are the details of the comparative commission earned by HDFC Bank from Insurance (Life), whose products are being distributed:
Commission, Brokerage and trail from Life Insurance
|Category||First Year Commission||2nd year Renewal commission|
|Savings & Investment||1%||35%||0%||3%|
Note: The commission varies depending upon the Product in each category, tenure, amount of premium and premium paying term
*For Group Products commission payable is 2% of the premium with a ceiling on the maximum payout as defined by Insurance Regulatory And Development Authority (IRDA) from time to time.
* Guaranteed amount depends on the policy term chosen & subject to policy being in force.
HDFC Standard Life Insurance Company Limited, Lodha Excelus, 13th Floor, Apollo Millls Compound, N.M.Joshi Marg, Mahalaxmi, Mumbai-400 011: - The policy holder may avail of benefits are as provided under the tax laws. The premium would be subject to Service tax & education cess as per applicable tax rates. Tax laws are subject to change basis the amendments made from time to time.
HDFC Standard Life Insurance Company Limited. In Partnership with Standard Life Plc Insurance is the subject matter of the solicitation. For more details on risk factors, terms and conditions and exclusions please read the product brochure before conclusion of sale. HDFC Life Sanchay (Form No: P501-118 & UIN: 101N097V01) is a traditional insurance product offered by HDFC Life. This is a non participating plan. The name of the company, name of the brand and the name of the product does not indicate the quality of the plan. HDFC Standard Life Insurance Co. Ltd. - IRDA Reg.No.101
HDFC Bank Limited ("HDFC Bank") is a corporate insurance agent of HDFC Standard Life Insurance Company Limited ("HDFC Life") under Corporate Agent's IRDA license no.933982 and does not underwrite the risk or acts as an insurer. The insurance is underwritten by HDFC Life. This policy is issued to you by HDFC Life and is subject to the terms and conditions governing such policy. The contract of insurance is between HDFC Life and the insured only, and not between HDFC Bank and the insured .HDFC Bank is acting merely as the corporate agent of HDFC Life and there is no direct or indirect linkage between the provisions of the banking services offered by HDFC Bank. Your participation in this product is purely on a voluntary basis. HDFC Bank is not responsible or liable for performance of any obligations under the contract of insurance.
What is the Death-Benefit under the plan?
On death during the policy term, provided the policy is in force, we will pay to the nominee higher of the following:
- Sum Assured
- 10 times the Annualized Premium*
- 105% of the premiums* paid till date
In addition to the above, accrued guaranteed additions would be payable on death.
*The Premium amount excludes any underwriting extra premiums and any taxes paid. On payment of the Death Benefit, the policy will terminate and no more benefits will be payable.
What is the Maturity Benefit under the plan?
The plan offers guaranteed additions (GA) as a percentage of sum assured accrued for each completed policy year payable at maturity.
|Policy term (Yrs)||GA as % of Sum Assured|
|15 to 19 years||8%|
|20 to 25 years||9%|
On your survival, at end of the policy term, you will receive a lump sum benefit as the aggregate of:
- Sum Assured
- Accrued Guaranteed Additions
Your Aggregate Maturity benefit as percentage of Sum Assured as per term chosen is as follows:
|Maturity benefit as percentage of Sum Assured||220%||228%||236%||244%||252%||280%||289%||298%||307%||316%||325%|
What is the minimum/maximum age at entry/maturity?
|Age at Entry Age (years)||30 days *||45|
|Age at Maturity (years)||18||70|
All ages mentioned above are age last birthday. * The minimum age at maturity should be 18 years.
What is the minimum/maximum Policy term/Premium payment term?
|Premium Paying Term (years)||5, 8 and 10|
|Policy Term (years)||15||25|
|Sum Assured (Rs)||Will depend upon premium, premium payment term and policy term|
What is the premium frequency available under policy?
The premiums can be paid annually, half-yearly, quarterly and annually.