A Non-Linked, Participating,
Life Insurance Plan

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Flexibility to accrue Survival Benefit Payout
Whole life cover + Lifelong income
Deferred Income option with guaranteed benefits
Tax Benefits

Flexibility to accrue Survival Benefit Payout
Whole life cover + Lifelong income
Deferred Income option with guaranteed benefits
Tax Benefits

Overview
Plan Option
Eligibility
Disclaimer
FAQs

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HDFC Life Sanchay Par Advantage

HDFC Life Sanchay Par Advantage is a participating life insurance plan that provides an option to avail cover for whole of life (till the age 100 years). The plan provides a holistic solution for you to generate a regular income and to build a corpus to achieve the planned goals and secure your loved one’s future, without any compromises.Read More

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FEATURES

Life cover with protection up to as high as age 100 years

Choose between Immediate Income or Deferred Income options as per your needs

Flexibility to accrue the survival benefit payouts

PLAN OPTIONS/VARIANTS

Immediate Income:

An option that provides regular income by way of cash bonuses (if declared), from 1st policy year and provides lump sum at maturity thereby creating a legacy for your loved one

Deferred Income

An option that provides Guaranteed Income for a guarantee period1 , and also provides regular income by way of cash bonuses (if declared) throughout the policy term. It helps create a legacy for your loved ones by providing a lump sum at maturity

Policy Documents

ELIGIBILITY

Eligibility

Click on Know More for Eligibility

Know More

Documentation

ID Proof
Age Proof

Bajaj Allianz life guaranteed pension goal

Disclaimer

HDFC Life Sanchay Par Advantage (UIN 101N136V03) is a Non-Linked Participating Life Insurance Plan. Life insurance coverage is available in this product. This document has no monetary value at any time and is not proof of any contact with HDFC Life Insurance Company Limited. This version of product brochure invalidates all previous printed version for this particular plan. This product brochure is indicative of the terms, warranties, conditions and exclusions contained in the insurance policy.Read More

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FREQUENTLY ASKED QUESTIONS

1. What are the Plan Options available under HDFC Life Sanchay Par Advantage?

There are two plan options available under HDFC Life Sanchay Par Advantage:

Immediate Income: This option provides regular income by way of cash bonuses (if declared), from 1st policy year and provides lump sum at maturity.

Deferred Income: This option provides Guaranteed Income for a guarantee period, and also provides regular income by way of cash bonuses (if declared) throughout the policy term.

2. How does Cash Bonus work?

Cash bonus is declared at the end of every financial year and payable every year basis the frequency chosen (annual, half-yearly, quarterly or monthly) rather than at the time of a claim and hence acts as a source of regular income.

3. What is Guaranteed Income?

Guaranteed Income is expressed as Guaranteed Income Rate x Annualized Premium. Guaranteed Income Rate will depend on Age and Premium Payment Term. This guaranteed amount will be known to you at inception and would be payable for 25 years or Policy Term minus (Premium Payment Term + 1) years, whichever is lower, subject to your survival during this period.Guaranteed Income starts after Premium Payment Term + 1 year, provided all due premiums have been paid and the policy is in force.

This is applicable only for Deferred Income Option

4. What is Guarantee Period?

Guarantee period is a period which is lower of [25 years, Policy Term less (Premium Payment Term + 1 year)] starting after Premium Payment Term + 1 years.

This is applicable only for Deferred Income Option.

The premiums can be paid annually, half-yearly, quarterly and monthly.

The Survival Benefit can be paid out on an annual, half-yearly, quarterly or monthly basis.

The policyholder would be eligible to receive Cash Bonus (if declared) at the end of each Policy Year and payable from the 1st policy year until death or end of policy term, whichever is earlier.

Cash Bonus payable = Cash Bonus Rate x Annualized Premium

Annualized Premium is 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

The policyholder will start receiving Guaranteed Income plus discretionary Cash Bonuses (if declared) in arrears one year after the end of Premium Payment Term.

Cash Bonus payable = Cash Bonus Rate x Annualized Premium

Guaranteed Income is expressed as Guaranteed Income Rate x Annualized Premium

Guaranteed Income Rate will be known to you at inception. Guaranteed Income would be payable for 25 years or Policy Term minus (Premium Payment Term + 1) years, whichever is lower, subject to your survival during this period.

Yes, the Survival Benefit payouts can be deferred. The accrued Survival Benefit payouts will be accumulated monthly at a Reverse Repo rate and this rate will be reviewed at the beginning of every month.

Yes, the accrued Survival Benefit can be withdrawn partly/ fully at any point during the Policy Term.

The option to defer Survival Benefit payouts can be chosen any number of times.

The maturity benefit is equal to Sum Assured on Maturity plus accrued Cash Bonuses (if not paid earlier), plus interim Survival Benefit (if any), plus Terminal Bonus (if declared).

Where, Sum Assured on Maturity is total Annualized Premium payable under the policy during the premium payment term.

More FAQs

HDFC Life Sanchay Par Advantage

FEATURES

Life cover with protection up to as high as age 100 years

Choose between Immediate Income or Deferred Income options as per your needs

Flexibility to accrue the survival benefit payouts

PLAN OPTIONS/VARIANTS

Policy Documents

Product Brochure

See More

See Less

ELIGIBILITY

Disclaimer

FREQUENTLY ASKED QUESTIONS

1. What are the Plan Options available under HDFC Life Sanchay Par Advantage?

2. How does Cash Bonus work?

3. What is Guaranteed Income?

4. What is Guarantee Period?

5. What is the premium frequency available under policy?

6. What is the Survival Benefit payout frequency available under policy?

7. What is the Survival Benefit under Immediate Income option?

8. What is the Survival Benefit under Deferred Income option?

9. Can the Survival Benefit be deferred?

10. Can the accrued Survival Benefit be withdrawn?

11. How many times can the Survival Benefit be deferred?

12. What is the Maturity Benefit under Immediate Income option?

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