India’s leading private insurer,
HDFC Life, has launched HDFC Life Sanchay Plus Plan. The plan is designed to
eliminate uncertainties from financial planning by providing a guaranteed
income. It comes with multiple benefit options and offers guaranteed payouts. In
this post, let us take a look at HDFC Life Sanchay Plus Plan features and
benefits.
HDFC Life Sanchay Plus Plan
This is a traditional insurance
plan with some different features. The policy is a non-participating and a non-linked
savings insurance plan. That means guaranteed returns for you and your family. This
insurance plan offers a savings component together with the insurance cover for
your total benefit.
Eligibility for this Insurance Pilocy
Here is a snapshot from the
product brochure about the eligibility criteria for this policy.
HDFC Life Sanchay Plus Plan – Features
This insurance plan comes
with multiple benefit options. The key features of this insurance policy include
the following:
1. Guaranteed benefits.
2. Flexibility to choose
guaranteed benefits as a lump-sum benefit or as regular income.
3. With Life Long Income
option, you get guaranteed regular income until 99 years of age.
4. With Long Term Income
option, you get guaranteed regular income for a pre-fixed term of 25 to 30
years.
5. Life Long and Long Term
Income options return the total premiums paid at the end of the payout period.
6. Enhanced benefit for
policies with Annual Premium more than Rs.150,000.
7. You will get tax benefits
as per prevailing tax laws under Sections 80C and 10D of IT Act, 1961.
8. You can enhance your
protection cover with additional riders on payment of additional premium.
HDFC Life Sanchay Plus Plan Variants
This insurance policy comes
in four variants
1. Guaranteed Maturity
In this option, you will get
guaranteed benefit payable as a lump sum at maturity. See the below chart
2. Guaranteed Income
In this option, you will get
maturity benefit in the form of guaranteed income for a fixed term of 10 or 12
years. See the below chart
3. Life Long Income
In this option, you will receive
the maturity benefit in the form of guaranteed income until 99 years of age and
return of premiums paid at the end of the payout period. See the below chart
4. Long Term Income
In this option, you will
receive the maturity benefit in the form of guaranteed income from a term that
ranges from 25 to 30 years and the return of premiums paid at the end of the payout
period. See the below chart
Death Benefit under this Policy
The death benefit is the
same for all the variants and is payable only in case of death of the
policyholder during the policy term.
Sum Assured on death is the
highest of the following:
1. 105% of the total premium paid
2. 10 times the annualized premium
3. The guaranteed sum assured on maturity
4. An absolute sum to be paid on death, which is equal to the sum assured.
1. 105% of the total premium paid
2. 10 times the annualized premium
3. The guaranteed sum assured on maturity
4. An absolute sum to be paid on death, which is equal to the sum assured.
Sample Illustration of Benefits
Illustration of benefits for
a healthy male aged 30 years (50 years for Life Long Income Option), who pays annual
premium Rs 1 lakh + GST per throughout the premium paying term and survives the
policy term.
Why you need HDFC this Insurance Policy?
1. There are guaranteed
benefit payouts under this policy.
2. It provides life cover to
protect your family's future.
3. You will be eligible for
tax benefits.
Premium Paying Term and Policy Term
See the below chart for the premium
paying terms and policy terms respectively.
The Premium Frequency Available under HDFC Life Sanchay Plus Plan
The premiums can be paid
annually, half-yearly, quarterly and monthly.
If you liked this article,
share it with your friends and colleagues through social media. Your opinion
matters, please share your comments.
No comments:
Post a Comment