HDFC SL Sanchay Plan

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

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  • 4.8++ Rated
  • 10.5 Crore Registered Consumer
  • 51 Partners Insurance Partners
  • 5.3 Crore Policies Sold

Investment Plans

  • Plan starting from ₹1,000/month
  • Save upto ₹46,800 in Tax under section 80C^
  • Zero LTCG Tax
  • In built life cover
Top performing plans˜ with High Returns**
Invest ₹10K/Month & Get ₹1 Crore# Tax-Free*
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We are rated++
rating
10.5 Crore
Registered Consumer
51
Insurance Partners
5.3 Crore
Policies Sold
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

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

Information About
Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund
Guaranteed Return Plans, Fixed Deposits &
Debt Mutual Fund
Guaranteed Return Plans
Returns Before Tax
7.1% (TAX-FREE)
Returns After Tax
7.1%
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
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*For annual premium upto ₹5 Lacs

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

People also read: HDFC Life NIFTY 200 Alpha 30 Fund NFO

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

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

People Also Read: HDFC Life Flexi Cap Fund NFO

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.

You May like to Read: hdfc life sanchay plus plan

˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 1286 Reviews)

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