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HDFC Sanchay Plus
Achieving personal milestones is crucial for securing your future. These milestones often come with added responsibilities, expenses, and the financia...
Unique Features
- Guaranteed Benefits
- Death Benefits
- Sample Premium Rates
HDFC Investment Plans
HDFC Guaranteed Income Plan
HDFC Life Guaranteed Income Insurance Plan is a non-linked, non-partic ...Read More
🛡️ IRDAI Approved
⭐ 4.6/5 · 922 reviews
📊 80 years solvency ratio
✅ Minimum Age - 5 year% claim settlement ratio
🌐 Annual, half-yearly,+ pan-India
About HDFC Guaranteed Income Plan
A quick read on what this HDFC Investment Plans term plan covers and why it might be a fit for you.
HDFC Life Guaranteed Income Insurance Plan is a non-linked, non-participating life insurance saving plan. It offers a regular income payout for 16 to 20 years and ensures financial protection for your loved ones in case of your unfortunate demise.
HDFC Life Guaranteed Income Insurance Plan offers a range of benefits, including:
- Guaranteed income of 11% to 13% per annum
- Tax Benefits
- Guaranteed regular income
- Guaranteed lump sum on maturity
- Flexibility
- Rider protection
Eligibility Criteria for HDFC Guaranteed Income Plan
Entry age
Minimum Age - 18 years Maximum Age - 49 years
Maturity age
Maximum Maturity Age - 65 years
Policy tenure
16 to 20 years
Premium payment term
8 to 10 years
Premium payment frequency
Annual, Semi-Annual, Monthly, Single
Sum assured
Minimum - Depends on Monthly Premiums Maximum - No Limit
Pros & cons
A quick honest summary — the strengths and the trade-offs.
Pros
- Limited premium payment
- Maturity Benefit
- Bonuses
Cons
- No coverage for pre-existing conditions
- Suicidal exclusion applies
- No automatic cover continuance
Who can buy this plan
Eligibility criteria pulled straight from the policy wording.
Minimum entry age: 3 years
Maximum entry age: 65 years
Minimum sum assured: Depends on monthly premiums
Maximum sum assured: No Limit
Maximum policy term: 15 years
How Does the HDFC Life Guaranteed Income Plan Work?
Let's understand how the HDFC Life Guaranteed Income Plan works with a simple premium illustration.
Problem
Anubhav, a 40-year-old professional doctor is looking for an investment plan to create long-term wealth for his child's education abroad.
Solution
His financial advisor advised him to buy the HDFC Life Guaranteed Income Plan. He visited PolicyX.com
Let's understand how the HDFC Life Guaranteed Income Plan works for him with a premium illustration table.
| Age of policyholder | Annual Premiums | Policy tenure | Sum Assured | Maturity Benefits |
| 49 years | Rs 50,000 | 20 years | Rs 10,00,000 | Rs 4,17,401 |
Key Takeaways: At the end of the policy tenure the maturity benefits of Rs 4,17,401 are paid to the policyholder.
Benefits of HDFC Guaranteed Income Plan
There are various benefits to buying the HDFC Life Guaranteed Income Plan . Let’s understand each of them in detail:
- Survival benefit or Regular Guaranteed Income (GI): The survival benefit, or regular guaranteed income (GI), is the income you will receive regularly, such as monthly or yearly, for the remaining policy term.
- Maturity benefit: Upon the completion of the policy term, HDFC Life Guaranteed Plus will pay the sum assured as per the plan.
- Guaranteed death benefit (GDB): The guaranteed death benefit is the amount your nominee will receive upon your unfortunate demise. The payment of Guaranteed death benefits to GDB will be as follows:
- Income tax benefit: All the premiums paid during the same financial year can be used as Tax rebates under section 80C of income tax in 1961.
Features of HDFC Guaranteed Income Plan
Key features that make HDFC Guaranteed Income Plan stand out.
Free-look period
This plan offers a free-look period of 15 days to check if the policy aligns with your financial goals.
Surrender value
In case you wish to surrender your policy before the due date you can do so and avail the surrender value with applicable bonuses.
Grace period
There are instances when you can miss your premium payments and your insurer may charge you a huge penalty. The grace period allows you to pay your missed premiums without any charges.
Additional Riders
You can improve your protection by adding a suitable rider to this plan. Below is the list of riders available in HDFC Life Guaranteed Income Plan
Documents Required for HDFC Guaranteed Income Plan
Keep these documents handy when applying for HDFC Guaranteed Income Plan.
Photo ID Proof
Any one of the following: Passport, Aadhaar card, PAN card, Driving license.
Age Proof
Any one of the following: Passport, Aadhaar card, PAN card, Driving license.
Address Proof
Any one of the following: Utility bill, passport, voter ID, ration card.
Medical Records
Medical records of the policyholder, if requested.
Income Proof
Any one of the following: Bank statement, last three months' salary slips (if salaried).
Buying from their branch office
You can buy the HDFC Life Guaranteed Income Insurance Plan offline by visiting one of their nearest branch offices. One of their representatives will help you buy the plan.
Other Features of HDFC Guaranteed Income Plan
Here are the key features of the HDFC Guaranteed Income Plan.
Conclusion
If you are looking for an investment plan that offers guaranteed returns for you and your family, you must opt for the HDFC Life Guaranteed Income Plan. This plan provides guaranteed benefits.
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FAQs: HDFC Life Guaranteed Income Plan
The 5 most-asked questions about HDFC Guaranteed Income Plan, answered.
The minimum age to purchase an HDFC life-guaranteed income insurance plan is 18 years
There are various different premium payment frequencies including monthly, quarterly, half-yearly, and annually
You can opt for tax benefits under sections 80C and 80D.& 1010D.
You can expect an average return between 11 to 15 % under this plan.
Yes, a policy loan available under this plan.
Written and reviewed by
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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