About HDFC Life Investment Plans - An Overview

HDFC Life Insurance company was founded in the year 2000 with a partnership between HDFC Limited & Standard Life Aberdeen PLC. The company offers several investment products to its customers including protection, pension, savings, investments, health, etc.

HDFC Life Savings Plan is designed to help policyholders build savings habits and get good amounts of returns back when in need. They usually provide a fixed maturity benefit amount at the end of the policy term.

Types of HDFC Life Investment Plans

HDFC Life Insurance Company offers 8 investment plans that offer you multiple benefits to save and grow your money.

In the section below, we will discuss all 8 plans in detail.

1. HDFC Life Sanchay Plus

   HDFC Life Sanchay Plus is a non-participating and non-linked savings plan made to financially protect you and your family. It helps you achieve personal milestones that come with added expenses and responsibilities.

   Key Features:

   • Guaranteed Maturity benefit ensures you get a lump sum amount upon plan maturity.
   • Offers you flexibility in the form of a lump sum or regular income.
   • The life-long Income option offers you guaranteed income till the age of 99 years.
   • Get the tax benefits on premiums paid as per Income Tax Act, 1961.

   Eligibility

   Eligibility Criteria	Plan Options	Minimum	Maximum
   Entry Age (in years)	Guaranteed Income	5	60
   	Guaranteed Maturity	5
   	Life-Long Income	50
   	Long Term Income	5
   Maturity Age (in years)	Guaranteed Income	18	73
   	Guaranteed Maturity	18	80
   	Life-Long Income	56	73
   	Long Term Income	18	73
   Premium Instalment (Minimum)	All Options Covered	Annual : Rs. 30,000 Half Yearly: Rs. 15,000 Quarterly: Rs. 7,500 Monthly: Rs. 2,500
   Premium Instalment (Maximum)	All Options Covered	No limit
   Riders	All Options Covered	HDFC Life Income benefit- Accidental Benefit Rider Critical Illness Plus Rider

   Sample Illustration

   The table illustrates the benefits of healthy males of age 30 years, who pay Rs. 1 lakh with taxes p.a. throughout the premium paying term and policy term.

   Plan Option	Sum Assured	Death Benefit at Inception	Policy Term	Premium Paying Term
   Guaranteed Maturity	1,250,000	1,250,000	20	10
   Guaranteed Income	1,250,000	1,496,586	13	12
   Long Term Income	1,250,000	1,250,000	11	10
   Life-Long Income	1,050,000	1,050,000	11	10

2. HDFC Life Sanchay Par Advantage

   If you want to avail a cover for a lifetime (up to 100 years of age) and generate a regular income, it is a participating life insurance plan that helps you to achieve your future goals.

   Key Features:

   • Provides protection of live cover up to the age of 100 years.
   • Choose between Immediate income options or Deferred income options as per your requirements.
   • Immediate Income Option gives regular income in the form of cash bonuses, if declared, from the first policy year until the death or end of the policy. It also provides a lump sum at the time of maturity.
   • Deferred Income Option provides guaranteed income for a specific period of time along with regular income in the form of cash bonuses, if declared, throughout the term of your policy. It also provides a lump sum at the time of maturity. The death benefit, along with the rest, will include Guaranteed Income if it was not paid earlier.
   • Offers you the flexibility to choose the payout date for survival benefits.
   • Get the tax benefits on premiums paid as per Income Tax Act, 1961.

   Eligibility:

   Parameters	Minimum	Maximum
   Entry Age	30 days	Immediate Income: 65 years Deferred income: 55 years (for PPT 8 years) 60 years (for PPT 10, 12 years)
   Maturity Age	Maximum - 100 years
   Term of premium payment	Immediate Income: 6, 8, 10, 12 years Deferred Income: 8, 10, 12 years
   Policy Term	Below 100 years - Entry Age 30-40 years - A fixed policy Term
   Sum Assured on Maturity (Minimum)	Rs 3,00,000
   Sum Assured on Maturity (Maximum)	No limit

3. HDFC Life Sanchay

   It is a non-participating insurance plan that provides complete freedom to select the most viable investment option. The plan offers guaranteed benefits as well.

   Key Features:

   • Offers guaranteed benefit on maturity (provided all due premiums have been paid).
   • Guaranteed benefits vary by the policy term (140% to 460% of the Sum Assured on maturity).
   • It allows you to pay premiums in installments (only applicable for HDFC credit cardholders).
   • Flexibility to choose policy terms:
   • 5 to 20 years for single pay
   • 10, 12, 15, and 40 years for Limited pay
   • Availability of Short Medical Questionnaire (SMQ) based underwriting.

   Eligibility:

   Entry Age (Minimum)	Limited Pay - 30 days Single pay - 5 years
   Entry Age (Maximum)	Limited Pay - 65 Years Single pay - 50 years
   Maturity Age (Minimum)	18 years
   Maturity Age (Maximum)	85 years
   Sum Assured (Minimum)	Rs 2,510
   Sum Assured (Maximum)	No limit
   Policy Terms	Single Pay - 5 years (Minimum) and 20 years (Maximum)

4. HDFC Life Sampoorna Samridhi Plus

   It is an endowment plan which provides protection to your loved ones.

   Key Features:

   • It allows you to select a policy plan from 15 to 40 years.
   • Provides the additional benefit in case of death due to an accident.
   • It offers up to 5% per annum of sum assured on maturity worth of additions for the first 5 years.
   • Tax benefits under Section 80(C) & Section 10(10D) of Income Tax Act, 1961.

   Eligibility:

   Eligibility Criteria	Minimum	Maximum
   Entry Age	30 days	60 years
   Maturity Age	18 years	75 years
   Policy Term	15	40
   Sum Assured	Rs 65,463	No limit

5. HDFC Life ClassicAssure Plus

   It is a participating insurance plan that offers flexible options to choose premium paying terms along with a guaranteed reversionary bonus.

   Key Features:

   • Limited Premium Paying terms of 7 or 10 years
   • It allows you to take a loan if you meet certain conditions.
   • Offers insurance coverage throughout the policy tenure
   • You can choose to pay premiums via monthly/quarterly/half-yearly/annual modes.
   • If your policy has a sum assured of 10 lakhs and above, you will get a discount on its basic premium.
   • Availability of Short Medical Questionnaire (SMQ) based underwriting.

   Eligibility:

   Policy Term (in years)	10	15	20
   Premium Paying Term (in years)	7	7 or 10	10
   Entry Age (Minimum)	8 years	3 years	30 days
   Entry Age (Maximum)	55	60	55
   Maturity Age (Maximum)	65	75	75
   Minimum Sum Assured on Maturity (in Rs.)	49,447	48,032	73,516
   Maximum Sum Assured on Maturity (in Rs.)	No limit

6. HDFC Life Super Income Plan

   It is a participating plan that provides guaranteed income for a period of 8 years to 15 years. The plan is suitable for individuals who require a regular income at their disposal so that they don't have to stress about future expenses.

   Key Features:

   • Offers insurance coverage throughout the policy term
   • Availability of a Short Medical Questionnaire (SMQ)
   • At maturity, boost your regular income with terminal and reversionary bonuses
   • Offers a wide range of premium payment and policy term options to meet your savings and income goals
   • Get the survival benefits varying from 3.84% to 12.5% of the sum assured
   • Regular income for a period of 8 to 15 years after the payment of premium
   • Guaranteed Income every year for a period of 8, 10, 12, or 15 years under limited pay options
   • Guaranteed Income from the 2nd policy year onwards till the end of the policy term (under single pay option)

   Eligibility:

   Parameters	Minimum	Maximum
   Entry Age	18 years minus Policy Term (for policy term less than 18 years) 30 days (for policy term greater than or equal to 18 years)	59 (For policy term 15 & 16 years) 57 (For Policy Term of 18 Years) 55 (For Policy Term of 20 Years) 53 (For Policy Term of 22 Years) 51 (For Policy Term of 24 Years) 48 (For Policy Term of 27 Years) 34 (For Policy Term 15 to 27 Years Under Option 9)
   Maturity Age	18 years	75 years
   Sum Assured on Maturity (Minimum)	Limited Pay: Rs. 76,198 Single Pay: Rs. 18,457
   Sum Assured on Maturity (Maximum)	No limit

7. HDFC Life Uday

   This plan is formulated to safeguard your savings along with providing a lump sum amount to your loved ones in case of your untimely demise.

   Key Features:

   • Multiple term options
   • Guaranteed benefits of 3% p.a. during the first 5 policy years
   • Offers accidental death benefit, If the policyholder dies in an accident
   • Easy and convenient issuance process

   Eligibility:

   Policy Term	12 years	15 years
   Premium paying term	8 years	8 years or 10 years
   Entry age (Minimum)	18 years
   Entry age (Maximum)	55 years
   Minimum Maturity Age	30 years
   Maximum Maturity Age	70 years
   Minimum sum assured on maturity	Rs. 28,465
   Maximum sum assured on maturity	No limit

8. HDFC Life Pragati

   This plan is based on two factors- protection and savings.

   Key Features:

   • Death benefit for 2 years since the last unpaid premium's date
   • Quick issuance of the policy
   • Bonuses and tax benefits
   • Guaranteed premium returns on maturity

   Eligibility:

   Policy Term	5-20 years	10-20 years	10 years
   Premium Paying Term	Single pay	LImited Pay: 5/10 years	Regular Pay: 10 years
   Entry Age (Minimum)	8 years
   Entry Age (Maximum)	55 years
   Maturity Age (Minimum)	18 years
   Maturity Age (Maximum)	65 years
   Sum Assured (Minimum)	Rs. 5,000
   Sum Assured (Maximum)	Rs. 20,00,000

Buying Process Of HDFC Investment Plans

There are two ways through which you can invest in HDFC Investment Plans- via PolicyX.com and the official website of the company. Let's discuss the steps further.