HDFC Life Sanchay

What are the Key Features?

What are the Plan benefits?

The death benefit is payable if the life insured dies during the term of the policy. The benefits payable to the nominee will be sum assured on death plus accrued guaranteed additions to the nominee.

Death sum assured is higher of

• Sum Assured on Maturity
• An absolute amount assured to be paid on death, which in this case is equal to the Sum Assured on Maturity
• 105% of premiums paid
• 10 times Annualised Premium2

Maturity benefit is payable on the survival of the Life Assured till the completion of the policy term. Maturity benefit is payable as a lump sum which is equal to the sum assured on maturity plus accrued guaranteed additions.

Maturity benefit as a percentage of Sum Assured as per term chosen is as follows:

The plan offers guaranteed additions as a percentage of the sum assured on maturity accrued at a simple rate for every policy year, throughout the policy term. These Guaranteed Additions are payable in the event of Maturity or Death whichever happens first. In case of surrender, the surrender value of Guaranteed Additions will be payable. The benefit is paid subject to all due premiums being paid.

This plan is a non participating plan which is not eligible for bonus.

Loan facility is available under this plan. The policyholder can avail loan up to 80% of the Surrender Value subject to applicable terms and conditions.

Guaranteed surrender value is payable if at least two annualized premiums have been paid for a premium payment term of 5 and 8 years and three annualized premium have been paid for premium payment term of 10 years. The minimum GSV shall be the sum of the GSV of the premiums paid and the Surrender Value of the Guaranteed Additions, already accrued to the policy.

The plan offers tax benefits under section 80C and section 10 (10D) of the Income Tax Act, 1961.

Who can Buy the Plan?

Factor	Minimum	Maximum
Age (as on last birthday)	30 Days	45 Years
Age at Maturity	18 Years	70 Years
Policy Tenure	15 Years	25 Years
Premium Paying Term	5/8 Years	10 Years
Premium Paying Mode	Annually,Semi Annually, Quarterly and Monthly	-
Sum Assured on Maturity	Rs 105,673	No Limit (Subject to underwriting)
Freelook Period	15 days/ 30 days (for distance marketing channel) from the receipt of the policy	-
Grace Period	30 days & 15 days (for monthly mode)	-
Plan Type	Online	-

Is any Rider Available with this Plan?

HDFC Life Critical Illness plus rider, which covers 19 critical illnesses can be taken along with the base plan to enhance policy coverage.

How the Plan Works?

Let us understand the plan with the case study of Ramesh.

Name of Life insured: Ramesh

Age of Life insured: 35 years

Annuaul investment: Rs 1,29,281

Policy term: 15 years

Premium payment term: 5 years

His Sum Assured on Maturity in the plan is 5,00,000. He will receive a guaranteed maturity ` benefit of 11,00,000 at the end of the policy term. ` Below table illustrates his benefits in the plan.

Note: Premium is exclusive of service tax and education cess. Service tax and other levies, as applicable, will be levied as per the extant laws. The values shown are for illustrative purposes only. Please refer the sales illustration for the exact premium.