HDFC Life Sanchay Plan

Best Selling Plan of HDFC Life Insurance
Invest online to get 3% more value on maturity
100% Guaranteed Return Plan.
Get 100% Guaranteed Plans with returns higher than Fixed Deposits.

*Please note that the quotes shown will be from our partners

Introduction/Overview

HDFC SL Sanchay Plan is a traditional Endowment Plan with Guaranteed Benefits thereby enhancing savings and also providing life insurance coverage

Key Features

It is a non-participating plan with limited premium payment option
Guaranteed benefits are expressed as a % of Sum Assured and vary depending on the term chosen

Benefits

Guaranteed Additions @ 8% for term 15-19 years and 9% for term 20-25 years accrues for each completed policy year
On maturity, the basic SA along with the aggregate Guaranteed Additions is paid
On death of the policyholder , higher of the basic SA or 10 times the annual premiums or 105% of premiums paid is payable + accrued Guaranteed Additions
Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	30 days	45 years
Maturity Age (Last Birthday)	18 years	70 years
Policy Term (PT) in years	15	25
Premium Paying Term (PPT) in years	5, 8 or 10
Premium Paying Frequency	Annual, half-yearly, quarterly, monthly
Yearly Premium	30,000	No limit
Sum Assured	112,953	No limit

Details About Premium

Annual premium in Rupees for a term of 15 years

Sum Assured / Age	PPT = 5 years		PPT = 8 years		PPT = 10 years
Sum Assured / Age	35 years	45 years	35 years	45 years	35 years	45 years
100,000	24,625	25,092	16,400	16,679	13,677	13,892
200,000	49,250	50,184	32,800	33,358	27,354	27,784
5,00,000	123,125	125,460	82,000	83,395	68,385	69,460

Policy Details

Grace Period: 15 days’ grace period is allowed for premium payment in monthly modes and 30 days for other modes. If policyholder fails to make payment within the grace period, the policy lapses

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 2 or 3 full years’ premiums has been paid. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.

GSV = GSV Factor * cumulative annual premiums paid including the GSV of Guaranteed Additions

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Additional Features or Riders

Extra premium rates are charged for smokers
The total Maturity Value including Guaranteed Additions can go to as high as 325% of the Sum Assured

Inclusions

Loan is available to the maximum of 80% of the Surrender Value

Exclusions

In case of suicide committed within 12 months of policy inception only 80% of premiums paid are returned to the nominee. In case of suicide within 12 months of revival, higher of 80% of premiums paid or acquired Surrender Value is paid

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.

How helpful was this page?

Average Rating 3 / 5 (106 reviews)

Calculators

*The information provided on this website/page is only for information sake. Policybazaar does not in any form or manner endorse the information so provided on the website and strives to provide factual and unbiased information to customers to assist in making informed insurance choices.

Our Investors :

CIN: U74900HR2014PTC053454 Policybazaar Insurance Web Aggregator Private Limited, Registered Office no. - Plot No.119, Sector - 44, Gurgaon, Haryana - 122001
IRDAI Web aggregator Registration No. 06 Registration Code No. IRDAI/WBA21/15 Valid till 13/07/2021 Insurance is the subject matter of solicitation. Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the Insurer © Copyright 2008-2019 policybazaar.com. All Rights Reserved.