Hdfc Life My Assured Income Plan vs Sbi Smart Bachat Life Insurance Plan 2026 | PolicyX
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‘A combination of income and family protection plan’. HDFC Life My Assured Income Plan is a perfect blend of a guaranteed income plan and a family protection plan. This plan offers guaranteed incomes at specific durations along with a life cover to protect your family financially even after your untimely demise. You have to make premium payments for a limited term while you enjoy income benefits for a longer duration. This plan offers a range of benefits including guaranteed income benefits, terminal benefits, enhanced protection through riders such as critical illness or term rider, death benefits, and sum assured discount on higher premiums.

This plan offers three plan options to choose from: uniform income benefits, enhanced income benefits, and increasing income benefits. In case of the policyholder’s demise during the premium payment tenure, the death benefits are paid to their loved ones, and the policy will lapse with immediate effect.

HDFC Life Assured Income Plan is a non-participating, non-linked savings life insurance plan. This plan will be discussed in detail below for better understanding.

HDFC Life Assured Income Plan offers you a range of benefits including:

  • Critical illness rider
  • Tax Benefits
  • Flexibility
  • 3 Plan options
  • Enhanced income benefit
  • Uniform income benefit
PLAN DETAILS

Hdfc Life My Assured Income Plan

Sbi Smart Bachat
Premium Including GST
Key Features
(Key features of the plan)
  • Guaranteed income benefits
  • Terminal benefits
  • Life coverage
  • Know All About SBI Life Smart Bachat
  • Explore the Key Features and Benefits
  • Understand the Exclusions
Plan Maturity age Maximum Maturity Age - NA Maximum Maturity Age: 65 years
Plan Sum Assured 5 years, 8 years 7/10/15 years
Plan Entry Age Minimum Age - 2 years Maximum Age - 60 years Minimum Age: 3 years, Maximum Age: 50 years
Plan Payment modes Minimum - NA Maximum - NA Rs 2 lakh to No limit
Plan Policy loan Monthly, Half-yearly, and Yearly Annual, half-yearly, quarterly and monthly
Plan Sample Premium - -
Plan Brochure Brochure URL Brochure URL
Policy Term 10 Years, 16 Years Minimum term: 15 years, Maximum term: 30 years
Claim Settlement Ratio (2024-25) Minimum Age - 5 year Minimum Age - 5 year

* The above sample premiums are for a 30-year-old male, nonsmoker with a sum assured of Rs 50 lakhs and a policy tenure of 25 years. You can calculate the premiums for the above life insurance plans using the PolicyX Life Insurance Calculator.

Riders

Benefits of HDFC Life My Assured Income

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

  • Income benefitsYou will get income benefits for a certain duration if you buy this plan. It helps you save money to complete your future financial goals or obligations.
  • Terminal benefits Terminal benefits are guaranteed benefits paid to the policyholder at the end of policy tenure. These benefits depend on your age and the income tenure chosen at the start.
  • Life coverageLife is very uncertain; anything can happen at any point in time. This plan offers you life coverage which provides financial protection to your family in the event of your uncertain demise.
  • Policy loanYou can avail a loan against your policy if premiums have been paid for at least two years. The maximum loan amount is 80% of the surrender value, with an interest rate of 9.5% per annum.

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Reviewed By: Naval Goel

Naval Goel has over a decade of expertise in the insurance sector, having worked with companies like AIG, New York. He is an Associate Member of the Indian Institute of Insurance, Pune, and is authorized by IRDAI to act as Principal Officer of PolicyX.com Insurance Web Aggregator.

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