HDFC SL Sampoorn Samridhi Plus Plan is an Endowment Plan with whole life cover. The plan offers life coverage up to 100 years or till the policyholder’s death. Thus this endowment plan provides long-term savings as well as complete insurance coverage for a financially secure future of your family.
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
30 days |
60 years |
|
Maturity Age (Last Birthday) |
18 years |
70 years |
|
Policy Term (PT) in years |
15 |
40 or 100- age |
|
Premium Paying Term (PPT) in years |
Term - 5 |
|
|
Premium Paying Frequency |
Annual, half-yearly, quarterly, monthly |
|
|
Yearly Premium |
12,000 |
No limit |
|
Sum Assured |
65,463 |
No limit |
Annual premium in Rupees for a SA of 1 lakh
|
Age / Term (years) |
Endowment Option |
Endowment with Whole Life Option |
||
|
15 |
20 |
15 |
20 |
|
|
30 |
13,241 |
8978 |
14,811 |
10,023 |
|
40 |
13,363 |
9071 |
15,418 |
10,407 |
|
50 |
13,796 |
9361 |
16,526 |
11,104 |
Grace Period- The policy will lapse if the insured is unable to pay his premiums within the given time frame of 15 days (grace period).
Policy Termination or Surrender Benefit- The insurance holder is allowed to surrender the policy after 2 years’ full premium payment. The Surrender benefit will be higher of either the Special Surrender Value or the Guaranteed Surrender Value.
Free Look Period- If you are not pleased with the conditions set by the insurer, you are free to cancel their policy, provided your policy is still within the free look period (first 15 days of the policy) and you have not filed any claim yet.
Additional Features or Riders
High sum assured rebates for coverage of 1.5 lakhs and above.
Inclusions
Loan is available against the plan after it has acquired a Surrender Value.
Exclusions
If the insured takes his own life within 12 months from the commencement of the policy, the beneficiary gets back 80% of the premium paid. If, within 12 months of policy renewal, the insured commits suicide, then either the acquired surrender value or 80% of premium paid (whichever is higher) is given to the nominee. The accidental death benefit excludes accidental death due to self-inflicted injury, alcohol abuse, taking part in hazardous activities, war, aviation and criminal acts.
While submitting the application form, the buyers are required to provide their accurate medical history, KYC documents and address proof. Based on certain factors like age of the person and the sum assured chosen, a medical examination may be required as well.
You may also like to read: HDFC Life Investment Plan
Frequently Asked Questions
1. How many days of free look period can I avail under the policy?
If you are not pleased with the conditions set by the insurer, you are free to cancel their policy, provided your policy is still within the free look period (first 15 days of the policy) and you have not filed any claim yet.
2. What documents should I submit along with the application from while buying the policy?
While you are applying for the policy, documents like your accurate medical history, KYC documents and address proof are required to submit along with the filled up application form. Based on some factors like age of the person and the sum assured chosen, medical examinations may be required.
3. What are included and excluded in coverage of the policy?
The inclusion and exclusion of the policy are as follows:
Inclusions
Loan is available against the plan after it has acquired a Surrender Value
Exclusions
If the insured takes his own life within 12 months of the policy inception date, the beneficiary of the policy receives the 80% of the premium paid. Within 12 months of policy renewal, if the insured commits suicide, then either the acquired surrender value or 80% of premium paid (whichever is higher) is provided to the nominee. Moreover, accidental death benefit rider excludes self-inflicted injury causing death, alcohol abuse, taking part is hazardous activities, war, and aviation and criminal acts etc.
4. How many days of grace period can I avail under the plan?
If the insured is unable to pay premiums at the given time frame, then under grace period of 15 days, he can clear all his due premiums. In case of failure of premium payment during this time, the policy will lapse.
5. What is the termination period of the policy and what surrender benefits are provided on policy termination?
The insurance holder is allowed to surrender the policy after 2 full years of premium payment. The Surrender benefit will be higher of either the Special Surrender Value or the Guaranteed Surrender Value.
