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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 Wealth Plus
If you are looking for a plan that offers financial protection to your ...Read More
🛡️ IRDAI Approved
⭐ 4.6/5 · 924 reviews
📊 80 years solvency ratio
✅ Minimum Age - 5 year% claim settlement ratio
🌐 Annual, half-yearly,+ pan-India
About HDFC Guaranteed Wealth Plus
A quick read on what this HDFC Investment Plans term plan covers and why it might be a fit for you.
'A plan that helps you save for your future goals.'
The insurance market is filled with several insurance products, each with its unique benefits. If you are looking for a plan that offers financial protection to your family in your absence and guaranteed income benefits on survival, then consider 'HDFC Life Guaranteed Wealth Plus'.
HDFC Life Guaranteed Wealth Plus is a non-participating, non-linked savings life insurance plan. This plan offers a range of benefits, including return of premiums, survival benefits, guaranteed income benefits, guaranteed surrender value, policy loans, and policy revival. It helps you save a lump sum amount to fulfill your future goals and provides a grace period to avoid penalties for missed premium payments. The plan comes in two variants: the Lump Sum variant and the Income variant.
HDFC Guaranteed Wealth Plus Plan offers a range of benefits:
- Guaranteed Income Benefits
- Tax Benefits
- Surrender Value
- Policy loans
- Policy revivals
- Return of premiums
Eligibility Criteria for HDFC Guaranteed Wealth Plus
Entry age
Entry Age: Minimum - 12 years, Maximum - 60 years
Maturity age
Maximum Maturity Age - 103 years
Policy tenure
12 to 43 years
Premium payment term
Premium Payment Options: Single Pay, Limited Pay (5, 6, 7, 8, 10, and 12 years)
Premium payment frequency
Premium Payment Frequency: Monthly, Half-yearly, and Yearly
Sum assured
NA
Pros & cons
A quick honest summary — the strengths and the trade-offs.
Pros
- Dual Benefits
- Guaranteed Income
- Tax Benefits
Cons
- Limitations: No coverage for pre-existing conditions (if applicable)
- Suicidal exclusion
- War and criminal activity exclusions.
Who can buy this plan
Eligibility criteria pulled straight from the policy wording.
Minimum Entry Age: 12 years
Maximum Entry Age: 60 years
Minimum Sum Assured: NA
Maximum Sum Assured: NA
Maximum Policy Term: 43 years
How Does the HDFC Life Guaranteed Wealth Plus Plan Work?
Let's understand how the HDFC Life Guaranteed Wealth Plus Plan works with a simple premium illustration.
Problem
Mr. Digvijay, a 30-year-old individual, is looking for an investment plan to create long-term wealth for his child.
Solution
His financial advisor advised him to buy the HDFC Life Guaranteed Wealth Plus. He visited PolicyX.com.
Here's a premium illustration table:
| Age of policyholder | Annual Premiums | Policy tenure | Sum Assured |
| 30 years | 2,50,000 | 15 years | Rs 32.5 Lakhs |
Key Takeaway: At the end of the policy tenure, maturity benefits of Rs 22,72,489 are paid to the policyholder.
Benefits of HDFC Guaranteed Wealth Plus
There are various benefits to buying the HDFC Life Guaranteed Wealth Plus Plan. Let's understand each of them in detail:
- Death Benefit: In case of a policyholder's unfortunate demise, death benefits are paid to their nominee to protect their financial future. Death benefits are offered in both the Lump Sum and Income variants.
- Survival Benefits: Survival benefits are offered with the Income variant of the HDFC Guaranteed Wealth Plus plan. These benefits are paid as income, payable at the frequency chosen at the time of policy purchase. No survival benefits are paid with the Lump Sum variant.
- Return of Premium Benefits: This benefit applies to Income variant plans, where all base premiums paid are returned to the policyholder at the end of the tenure.
- Maturity Benefits: If the policyholder survives the policy tenure, they will be paid maturity benefits depending on the variant chosen.
Features of HDFC Guaranteed Wealth Plus
Key features that make HDFC Guaranteed Wealth Plus stand out.
Key Policy Features
Free Look Period
You get a free look period of 30 days under this plan to review the terms and conditions of the policy. If you are dissatisfied, you can return the policy to HDFC Life and get your money back after certain deductions.
Grace Period
The grace period helps you avoid penalties and late fees on premium payments. If there is a delay in premium payment, you get a grace period of 15 days for monthly premiums and 30 days for annual premiums.
Policy Revival
If your policy is canceled, lapsed, or expired, it can be revived within five years from the date of the unpaid premium. Revival is subject to approval by HDFC Life.
Surrender Value
If you have paid premiums for two years, your policy can attain a guaranteed surrender value. This surrender value depends on the guaranteed surrender value factor.
Documents Required for HDFC Guaranteed Wealth Plus
Keep these documents handy when applying for HDFC Guaranteed Wealth Plus.
Photo ID Proof
Photo ID Proof (any one): Passport, Aadhaar card, PAN card, Driving license.
Age Proof
Age Proof (any one): Passport, Aadhaar card, PAN card, Driving license.
Address Proof
Address Proof (any one): Utility bill, passport, voter ID, ration card.
Medical Records
Medical Records of the policyholder if requested.
Income Proof
Income Proof (any one): Bank statement, last three months' salary slips (if salaried).
Exclusions of HDFC Life Guaranteed Wealth Plus
- If the policyholder commits suicide within 12 months of policy purchase, no death benefits are offered to their family members. In such a case, either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, will be paid.
Other Features of HDFC Guaranteed Wealth Plus
Here are the key features of the HDFC Guaranteed Wealth Plus.
Conclusion
HDFC Life Guaranteed Wealth Plus combines term and savings benefits, offering financial protection to your loved ones in case of your demise and maturity benefits if you survive the policy term. If you need assistance in choosing the right plan, contact PolicyX.com. As an IRDA-approved insurance comparison portal, we help you compare various plans and our representatives will reach out to you shortly.
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HDFC Life Guaranteed Wealth Plus: FAQs
The 5 most-asked questions about HDFC Guaranteed Wealth Plus, answered.
There are two plan options available under HDFC Guaranteed Wealth Plus: Lump sum and Income benefit.
Yes, the Income option of the HDFC Life Guaranteed Wealth Plus plan offers you a return of premiums paid on maturity.
You can buy an HDFC Life Guaranteed Wealth Plus Plan by visiting the official website of HDFC Life, by visiting their nearest branch, or by PolicyX.com.
You can choose any of the following riders- Accident Disability Rider, Critical Illness Plus Rider, or Protect Plus Rider with this plan.
The minimum age to buy an HDFC Guaranteed Wealth Plus plan is 12 years.
Written and reviewed by
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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