HDFC Life Sampoorn Nivesh Plus Plan

What is HDFC Life Sampoorn Nivesh Plus?

HDFC Life Sampoorn Nivesh Plus is a non-participating, Unit-Linked Insurance Plan (ULIP). It grows your money through investments and provides life cover. You can choose from multiple funds and premium options. It helps you protect your family and achieve financial goals.

Features of HDFC Sampoorn Nivesh Plus Plan

The key highlights included in the HDFC Life Sampoorn Nivesh Plus Plan are as follows:

• The plan offers flexible terms, premium options, and multiple payout choices.
• You can choose from 13 funds, including equity, debt, and dynamic allocation options.
• You get 4 free switches or premium redirections every year to adjust your investments.
• Partial withdrawals are allowed after 5 years, up to 300% of the annualised premium.
• The plan supports STP for rupee cost averaging and SWP for regular income.
• On maturity or death, benefits can be received in installments for up to 5 years.
• Top-up premiums are allowed and treated as single premiums for extra sum assured.

Eligibility Criteria for HDFC Sampoorn Nivesh Plus Plan

Benefits of HDFC Life Sampoorn Nivesh Plus Plan

1. Fund Switching

   You can move your accumulated fund value from one fund to another at any time. You can also change from one portfolio strategy to another based on your investment needs.

2. Premium Redirection

   You can redirect your future premium payments into different funds or split them between two different strategies, as per your preference.

3. Partial Withdrawal

   You can make lump-sum partial withdrawals after completing 5 policy years to meet financial needs, provided the life assured is at least 18 years old. In child policies, withdrawals are allowed only after the minor life insured attains majority (18 years).

4. Systematic Transfer Plan (STP)

   Under the Systematic Transfer Plan, you can invest all or part of your money in a source fund and transfer a fixed amount or percentage (minimum ₹5,000) every month to one chosen destination fund, where units are redeemed from the source fund and allocated to the destination fund at the applicable unit values; the transfers continue without any extra charges until you request discontinuation, and the STP will not operate if the source fund value falls below the selected transfer amount.

5. Loyalty Additions

   Loyalty additions are credited as a percentage of the average fund value: for limited and regular premium policies, they are added every alternate year starting from the end of the 11th policy year, while for single premium policies, a loyalty addition of 1.50% of the average fund value is added at the end of each policy year from year 10 to 14.

   

6. Top-Up Premiums

   Any voluntary additional payment made over and above the regular premium is treated as a top-up premium and considered a single premium for providing insurance cover.

7. Systematic Withdrawal Plan (SWP)

   The Systematic Withdrawal Plan allows you to withdraw a pre-decided fixed amount or a percentage of the fund value from your fund at regular intervals.

8. Return of Mortality Charges (ROMC)

   Under the Classic Waiver Plus option, a percentage of the total mortality charges deducted during the policy term (excluding underwriting extra premiums and taxes) is paid along with the fund value at maturity.

Rider Benefits of HDFC Life Sampoorn Nivesh Plus Plan

This investment plan offers the following rider benefits: 

1. HDFC Life Income Benefit on Accidental Disability Rider

   This life rider pays 1% of the rider's sum assured per month for 10 years in case of accidental total permanent disability, with no maturity benefit.

2. HDFC Life Protect Plus Rider

   This health rider pays a proportion of the rider sum assured in case of accidental death, partial or total disability due to accident, or cancer diagnosis, based on the selected option, with no maturity benefit.

3. HDFC Life Health Plus Rider

   This rider provides a lump sum equal to the rider's sum assured on diagnosis of any of the 60 covered critical illnesses, or a proportionate benefit for early-stage or major cancer, depending on the chosen plan option.

4. HDFC Life Waiver of Premium Rider

   The rider waives future base policy and rider premiums in case of death, disability, or diagnosis of listed critical illnesses of the rider's life assured, while continuing all policy benefits.

Policy Details of HDFC Life Sampoorn Nivesh Plus Plan

• Policy Loan: This product does not offer a policy loan option.
• Cancellation in the Free-Look Period: Within 30 days of receiving the policy.
• Policy Discontinuance Due to Non-Payment of Premium: If you fail to pay your premiums, the policy will remain in effect for 15 days for the monthly mode and 30 days for all other modes. During this time, you will still be covered for any risks.
• Settlement Option – On Maturity: You can choose to get the maturity fund value in regular payments throughout a settlement period of up to 5 years.
• Settlement Option – On Death: If the policyholder passes away while the policy is still in effect, the beneficiary can obtain the death benefit in installments over a period of up to five years.

Suicide Exclusion Criteria of HDFC Sampoorn Nivesh Plus Plan

If someone dies by suicide within 12 months of the policy's start or revival date, the nominee will get the fund value on the day of death notification. Any charges incurred after the day of death (except for fund management charges) will be added back to the fund value.