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Single pay option available now
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Higher deferment period upto 10 years
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Shorter Premium Paying Terms for Income Options
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Enhanced Benefit for High Premium Policies
HDFC Life Sanchay Plus
“HDFC Life Sanchay Plus”, a plan that offers guaranteed returns for you and your family.
FEATURES
Guaranteed benefits
Rest assured of the returns
Tax benefits
You may be eligible for tax bene¬fits as per prevailing tax laws
Flexibility
Guaranteed benefi¬ts as a lump sum or as regular income
Life Long Income option
Guaranteed income till age 99 years
Long Term Income option
Guaranteed Income for a ¬fixed term of 25 to 30 years
Optional Riders
Enhance your protection coverage with rider options on payment of additional premium
PLAN OPTIONS/VARIANTS
- This option offers a guaranteed maturity benefit payable as lump sum at the end of policy term
- The maturity benefit is equal to Guaranteed Sum Assured on Maturity plus accrued Guaranteed Additions
- Sum Assured on Maturity shall be equal to total Annualized Premium payable under the policy
- Death Benefit - 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.
- This option pays you a maturity benefit in the form of Guaranteed Income for fixed term of 10 or 12 years upon payment of all due premiums and life assured surviving the policy term.
- On the maturity date, you shall have an option to receive the Guaranteed Sum Assured on Maturity, which under this option
- 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
- 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.
- Death Benefit - 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.
Guaranteed Maturity
Guaranteed Income
- This option offers a benefit of a guaranteed income up to age 99 years and a return of premium at the end of payout period upon payment of all due premiums and life assured surviving the policy term.
- At the end of the Payout Period, the policy terminates by returning Total Premiums paid.
- On the maturity date, you shall have an option to receive the Guaranteed Sum Assured on Maturity, which under this option, shall be the present value of future payouts
- At any point of time during the Payout Period, you shall have an option to receive the future income as a lump sum
- 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.
- Death Benefit - 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.
- This option offers a benefit of guaranteed income for fixed term of 25 or 30 years and a return of premium at the end of payout period upon payment of all due premiums and life assured surviving the policy term
- At the end of the Payout Period, the policy terminates by returning Total Premiums paid.
- On the maturity date, you shall have an option to receive the Guaranteed Sum Assured on Maturity, which under this option, shall be the present value of future payouts
- 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
- Death Benefit - 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.
- 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.
Life Long Income
Long Term Income
Policy Documents
ELIGIBILITY
Disclaimer
HDFC Life Sanchay Plus (UIN:101N134V19) is a non-participating, non-linked savings insurance plan. This version of the product brochure invalidates all previous printed versions for this particular plan. This Product brochure is indicative of the terms, warranties, conditions and exclusions contained in the insurance policy
FREQUENTLY ASKED QUESTIONS
The Guaranteed Income as stated in Benefit Illustration is fixed or may vary in future during payout period?
The payouts are guaranteed, provided all due premiums have been paid and policy is in force.
What is Guaranteed Sum Assured on Maturity and how is it calculated?
On maturity date (that is at end of the policy term), the policyholder shall have an option to receive Guaranteed Sum Assured on Maturity, which shall be the present value of future payouts, discounted at a rate of 9% p.a. (which is calculated using NPV formula).
Please find attached file where you may calculate present value of future payouts.
Please note - Return of premium amount along with last payout under Life Long Income and Long Term Income Option shall also be considered while calculating present value of future payouts
What happens if life assured dies during the payout period?
On death of the Life Assured during the Payout Period, the nominee shall continue receiving Guaranteed Income (including Return of Total Premiums Paid along with last payout under Life Long Income option and Long Term Income option) as per Income Payout Frequency & benefit option chosen till the end of Payout Period.
What happens if nominee also dies during the payout period?
As per Section 39 of the Insurance Act, 1938 - "If nominee(s) die after the policyholder but before his share of the amount secured under the policy is paid, the share of the expired nominee(s) shall be payable to the heirs or legal representative of the nominee or holder of succession certificate of such nominee(s)."
If Life Assured dies before or after the maturity of the policy, will all the Guaranteed Maturity Benefits continue to be paid to the nominee?
On death of Life Assured during the policy term (that is before maturity of policy), then Death Benefit shall be paid as lumpsum and policy shall terminate. Please refer product brochure for details on Death Benefit.
On death of the Life Assured during the Payout Period (that is after maturity of policy), the nominee shall continue receiving Guaranteed Income (including Return of Total Premiums Paid along with last payout under Life Long Income option and Long Term Income option) as per Income Payout Frequency & benefit option chosen till the end of Payout Period.
