HDFC Life Sanchay Plus Plan: Guaranteed Returns | PolicyX
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HDFC Sanchay Plus

HDFC Life Sanchay Plus is an investment plan by HDFC Life that offers ...Read More

🛡️ IRDAI Approved
⭐ 4.6/5 · 920 reviews
📊 80 years solvency ratio
✅ Minimum Age - 5 year% claim settlement ratio
🌐 Annual, half-yearly,+ pan-India

About HDFC Sanchay Plus

A quick read on what this HDFC Investment Plans term plan covers and why it might be a fit for you.

Achieving personal milestones is crucial for securing your future. These milestones often come with added responsibilities, expenses, and the financial burden of unforeseen events. It is essential to have proper financial security to achieve your long and short-term goals. HDFC Life Sanchay Plus offers guaranteed returns for you and your family.

HDFC Life Sanchay Plus is a non-participating, non-linked savings life insurance plan. Let's explore the plan in detail for better clarity and understanding.

HDFC Life Sanchay Plus Plan offers a range of benefits, including:

  • Guaranteed Benefits
  • Tax Benefits
  • Flexibility
  • Life-long income option
  • Long-term income option
  • Additional riders

Eligibility Criteria for HDFC Sanchay Plus

Entry age
Entry age
Minimum Age: 5 years, Maximum Age: 60 years
Maturity age
Maturity age
Maximum Maturity Age - 80 years
Policy term
Policy term
Minimum term: 6 years, Maximum term: 20 years
Sum assured
Sum assured
5 to 12 years
Policy loan
Policy loan
Annual, half-yearly, quarterly & monthly
Payment Modes
Payment Modes
105% of the Total Premium Paid

Pros & cons

A quick honest summary — the strengths and the trade-offs.

Pros

  • Options of Income Payout
  • Guaranteed Benefits
  • Flexibility

Cons

  • Suicidal exclusion
  • No auto-cover continuance

Video reviews

Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.

HDFC Life Sanchay Plus Guaranteed Income Plan

HDFC Life Sanchay Plus Guaranteed Income Plan

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Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

Minimum entry age: 5 years
Maximum entry age: 60 years
Minimum sum assured: 105% of premiums
Maximum sum assured: No limit
Maximum policy term: 25 years

How Does the HDFC Life Sanchay Plus Plan Work?

Let's understand how the HDFC Life Sanchay Plus Plan works with a simple premium illustration.

Problem

Mr. Verma 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 Sanchay Plus. He visited PolicyX.com

Let's understand how the HDFC Life Sanchay Plus Plus Plan works for him with a premium illustration table.

Age of policyholder Annual Premiums Policy tenure Sum Assured Maturity Benefits
30 years Rs 1 lakhs 20 years Rs 12,87,500 Rs 22,72,489

Key Takeaways: At the end of the policy tenure the maturity benefits of Rs 22,72,489 are paid to the policyholder.

Benefits of HDFC Sanchay Plus

There are various benefits to buying the HDFC Life Sanchay Plus Plan. Let’s understand each of them in detail:

  • Death benefits:Under Guaranteed Maturity, Guaranteed Income, Life-Long Income, and Long Term Income, in case of the death of the insured during the policy tenure, the accumulated death benefits are provided to the nominee under HDFC LIFE Sanchay Plus Policy.
  • Options of Income Payout: The plan offers the flexibility to choose to receive the annual income under the guaranteed, Life long, and long-term income.
  • Lapse, Paid-up, and Surrender:According to the terms of the HDFC Life Sanchay Plus policy, the surrender value must be met on at least two years of policy premium payment.
  • Enhanced Benefit For High Premium:If the annual premium paid by the insured is more than 1.5 lakhs then he is open to special benefits termed as enhanced benefits.

Features of HDFC Sanchay Plus

Key features that make HDFC Sanchay Plus stand out.

Policy Loan

The insured can avail loan facility under the HDFC Life Sanchay Plus plan. This can be done after the insured has acquired the surrender value limit and the insured can get a loan up to 80% of the surrender value.

Revival

The revival period for a lapsed/ paid-up HDFC Life Sanchay Plus policy is for 5 years. In case of a lapsed policy, the insured needs to pay all the pending premiums along with interest levied.

Grace Period

Under this benefit, the insured gets 15 days for the monthly frequency of premium payment and 30 days for other frequencies to pay the premium without any penalty.

Alterations

The insured is permitted to change the premium payment frequency and income payout frequency. A plan chosen at the time of buying the policy can not be changed.

Documents Required for HDFC Sanchay Plus

Keep these documents handy when applying for HDFC Sanchay Plus.

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).

Exclusions of HDFC Life Sanchay Plus Plan

  • If the policyholder commits suicide within 12 months of policy purchase, no death benefits are offered to their family members. In such cases, either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, is paid.

Other Features of HDFC Sanchay Plus

Here are the key features of the HDFC Sanchay Plus.

Plan At a Glance

What’s Good Here What’s Missing
Guaranteed Benefits Premium Offset
Additional Riders High sum assured rebate
Flexibility Auto cover continuance
Tax benefits Top-up premium

In a nutshell

If you are looking for an investment plan that offers guaranteed returns for you and your family, you must opt for HDFC Life Sanchay Plus, which offers guaranteed benefits.

For more information related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.

Life Insurance Articles

FAQs: HDFC Life Sanchay Plus

The 5 most-asked questions about HDFC Sanchay Plus, answered.

You can pay the premium of HDFC Sanchay Plus monthly, quarterly, half-yearly, or annually.
No, once the plan option has been chosen, it cannot be changed throughout the policy term.
Yes, you can change the income payout frequency and premium payment frequency under the HDFC Sanchay plus plan.
Yes, you can choose the Life Long Income option that can provide you a guaranteed income up to the age of 99 years.
The HDFC Sanchay Plus has no limit on maximum installment premium and is subject to the Board Approved Underwriting Policy (BAUP).

Written and reviewed by

PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.

Written by Himanshu Kumar — Term & Life Insurance Reviewed by Raj Kumar — Health Insurance
Last updated: 7 Aug 2023 · Originally published: 20 Dec 2024

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