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Overview
HDFC Life Sanchay Legacy is a non-linked, non-participating whole life insurance plan from HDFC Life, designed for individuals aged 40 to 75 years who want lifelong life cover along with legacy and estate planning benefits. The plan offers an increasing death benefit, an optional Return of Premium (RoP) at age 85, and accelerated payout on diagnosis of any of 19 critical illnesses.
Unlike a standard term plan, Sanchay Legacy is built for wealth preservation across generations rather than pure, low-cost protection, making it best suited for those in their 40s and beyond who already have basic term cover and are now planning long-term financial security for their family.
Key Features and Benefits
- Affordable Premiums: The plan offers competitive premium rates.
- Increasing Death Benefit: The death benefit increases over time, accumulating to your sum assured.
- Survival Benefit (Early ROP): Receive an amount equal to 100% of the total survival benefit at the end of a milestone year (e.g., age 85 at entry).
- Tax Benefits: Enjoy tax benefits as per prevailing tax laws.
- Coverage against Critical Illnesses (Accelerated Benefit): Accelerate your death benefit against 60 critical illnesses. Upon diagnosis of any of the 19 critical illnesses listed during the policy term, you will receive a part of your sum assured, up to 100%, for further treatment.
- Life Cover with No Medical Test: You can purchase this term insurance plan without a medical examination; a written statement from a certified doctor may suffice.
Riders Associated with HDFC Life Sanchay Legacy Plan
You can add the following riders to your HDFC Life Sanchay Legacy Plan:
HDFC Life Income Benefit on Accidental Disability Rider
Under this rider, upon Accidental Total Permanent Disability, a benefit equal to 1% of the rider sum assured per month will be payable for the next ten years.
HDFC Life Critical Illness Plus Rider
Under this rider, upon the diagnosis of any of the 19 listed critical illnesses, a sum assured equal to the rider sum assured will be payable.
HDFC Life Protect Plus Rider
A benefit equal to the rider sum assured will be payable in case of accidental death or partial/total disability due to an accident.
HDFC Life Health Plus Rider
Under this rider, a lump sum benefit equal to the rider sum assured is payable upon diagnosis of any of the covered 60 critical illnesses, such as Stage Cancer or Major Cancer.
Exclusions
- Suicide during the first 12 months of policy inception will not be covered.
- Death due to a pandemic is not covered under this plan.
- Injuries or illnesses caused due to any type of adventure sports.
- Consumption of drugs or alcohol, except for clinical purposes.
- Any pre-existing disease not declared at the policy's inception.
