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A Non-Linked, Participating, Life Insurance Plan that customizes your savings plan to match your expenses and financial needs
Whole life cover + life long cover1 option
Immediate income option for your various needs
Enjoy enhanced benefits for policies with Annual Premium of ₹ 1 lakh and above2
Accumulate survival benefits
Choose payout period based on your various milestones and financial goals.
Whole life cover + life long cover1 option
Immediate income option for your various needs
Enjoy enhanced benefits for policies with Annual Premium of ₹ 1 lakh and above2
Accumulate survival benefits
Choose payout period based on your various milestones and financial goals.
(Payouts at various intervals)
Survival Benefit: Get cash bonus1 (if declared) at the end of each Policy Year and payable from the 1st policy year until death or end of policy term, whichever is earlier.
Maturity Benefit: Get sum assured on maturity2 + accrued cash bonus (if not paid earlier) + Interim Survival Benefit (if any)3 + Terminal Bonus (if declared). On payment of the Maturity Benefit, the policy will terminate and no more benefits will be payable.
Death Benefit: Get sum assured on death4 + accrued cash bonus (if not paid earlier) +Interim Survival Benefit (if any)3 + Terminal Bonus (if declared). On payment of Death Benefit during the policy term, the policy will terminate and no future payouts will be payable.
Minimum death benefit is 105% of total premiums paid as on date of death. Upon the payment of the death benefit, the policy terminates and no further benefits are payable.
Disclaimer:
Please refer Product Brochure for details on Guaranteed Income Rate , Cash Bonus Rate, Cash Bonus & Interim Survival Benefit
Before buying HDFC Life Sanchay Par Advantage
Eligibility Criteria |
Plan Option |
Mininum |
Maximum |
---|---|---|---|
ENTRY AGE |
Immediate Income |
0 years* |
50 years (For PPT 5 years) 65 years (For PPT 6, 7, 8, 9, 10, 12 years) |
Deferred Income |
55 years (for PPT 7, 8 years) 60 years (for PPT 9, 10, 12 years) |
||
MATURITY AGE
|
100 years (maximum) |
||
PREMIUM PAYMENT TERM |
Immediate Income – 5/6/ 7/ 8/ 9/ 10/ 12 years |
||
POLICY TERM |
Whole of Life – Till age 100 years Additionally, the policyholder can choose a fixed policy term in the range of 20-40 years. |
||
MINIMUM PREMIUM |
|
||
SUM ASSURED ON MATURITY |
₹ 3,00,000 |
No Limit, subject to Broad approved underwriting policy (BAUP) |
*Risk commences from the first policy anniversary where age at entry is less than 1 year. For all other ages, risk commences from the date of inception of the contract.
To understand benefits under this plan
Plan Option | Sum Assured on Maturity | Survival Benefit payout | Maturity Benefit** | ||||
---|---|---|---|---|---|---|---|
Cash Bonus^ | Guaranteed Income# | ||||||
Immediate Income | ₹ 8,00,000 | At assumed rate of 8% p.a. | ₹ 30,000 | NA | Assumed Investment Return | At assumed rate of 8% p.a. | ₹ 1,67,34,000 |
At assumed rate of 4% p.a. | ₹ 14,500 | NA | At assumed rate of 4% p.a. | ₹ 18,31,000 | |||
Deferred Income~ | ₹ 8,00,000 | At assumed rate of 8% p.a. | ₹ 42,600* | ₹ 28,400 | At assumed rate of 8% p.a. | ₹ 61,60,000 | |
At assumed rate of 4% p.a. | ₹ 1,100* | At assumed rate of 4% p.a. | ₹ 23,22,000 |
^Cash Bonus (if declared) is payable for the entirety of the policy term.
# Guaranteed Income under Deferred Income option is payable for 25 years.
~ Cash Bonus and Guaranteed Income payouts under Deferred Income option start one year after the end of Premium Payment Term
* Please refer to the Benefit Illustration for year wise Death Benefit.
** Maturity Benefit comprises Sum Assured on Maturity (₹ 8,00,000) and Terminal Bonus.
A. The premiums are excluding applicable taxes & levies. B. This snapshot of illustration is only for HDFC Life Sanchay Par Advantage for a healthy male life. C. The values shown are for illustrative purpose only. D. Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy offers guaranteed benefits then these will be clearly marked “guaranteed” in the illustration table on this page. If your policy offers variable benefits then the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment performance.
For detailed illustration, please speak to our Financial Consultant/Broker. Please refer to the product brochure for details on benefits and conditions. For policies bought online, the benefits payable under both the plan options will be increased to 103% of those illustrated in the sample illustration.
Tune in to this video to know about our Savings Plans.
UIN: 101B013V03
Get additional income benefits over and above your Sum Assured in the event of total permanent disability due to an accident.
DOWNLOADUIN: 101B014V02
We pay a lump sum amount equal to Rider Sum Assured upfront if diagnosed with of any of the specified critical illnesses
DOWNLOADUIN: 101B016V01
Proportional benefit of Rider Sum Assured is paid in the event of accidental death or partial/total disability due to an accident or if you are diagnosed with cancer, as per the plan option chosen by you
DOWNLOADUIN: 101B032V01
Get Waiver of Premium for the base policy premium and premiums of any other additional riders, in case of death, disability or diagnosis of any listed critical illnesses of the Rider Life Assured. Enjoy continued policy benefits even in case of life's eventualities.
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Your Required life cover to protect your family’s future is
There are two plan options available under HDFC Life Sanchay Par Advantage:
a. Immediate Income: This option provides regular income by way of cash bonuses (if declared), from 1st policy year and provides lump sum at maturity.
b. Deferred Income: This option provides Guaranteed Income for a guarantee period, and also provides regular income by way of cash bonuses (if declared) throughout the policy term.
Cash bonus is declared at the end of every financial year and payable every year basis the frequency chosen (annual, half-yearly, quarterly or monthly) rather than at the time of a claim and hence acts as a source of regular income.
Guaranteed Income is expressed as Guaranteed Income Rate x Annualized Premium. Guaranteed Income Rate will depend on Age and Premium Payment Term. This guaranteed amount will be known to you at inception and would be payable for 25 years or Policy Term minus (Premium Payment Term + 1) years, whichever is lower, subject to your survival during this period.Guaranteed Income starts after Premium Payment Term + 1 year, provided all due premiums have been paid and the policy is in force.
This is applicable only for Deferred Income Option.
Guarantee period is a period which is lower of [25 years, Policy Term less (Premium Payment Term + 1 year)] starting after Premium Payment Term + 1 years.
This is applicable only for Deferred Income Option.
The premiums can be paid annually, half-yearly, quarterly and monthly.
The Survival Benefit can be paid out on an annual, half-yearly, quarterly or monthly basis.
The policyholder would be eligible to receive Cash Bonus (if declared) at the end of each Policy Year and payable from the 1st policy year until death or end of policy term, whichever is earlier.
Cash Bonus payable = Cash Bonus Rate x Annualized Premium1
Please refer Product Brochure for details on Cash Bonus Rate.
The policyholder will start receiving Guaranteed Income plus discretionary Cash Bonuses (if declared) in arrears one year after the end of Premium Payment Term.
Cash Bonus payable = Cash Bonus Rate x Annualized Premium
Guaranteed Income is expressed as Guaranteed Income Rate x Annualized Premium
Guaranteed Income Rate will be known to you at inception. Guaranteed Income would be payable for 25 years or Policy Term minus (Premium Payment Term + 1) years, whichever is lower, subject to your survival during this period.
Please refer Product Brochure for details on Guaranteed Income Rate and Cash Bonus Rate.
Yes, the Survival Benefit payouts can be deferred. The accrued Survival Benefit payouts will be accumulated monthly at a Reverse Repo rate and this rate will be reviewed at the beginning of every month.
Yes, the accrued Survival Benefit can be withdrawn partly/ fully at any point during the Policy Term.
The option to defer Survival Benefit payouts can be chosen any number of times.
The maturity benefit is equal to Sum Assured on Maturity plus accrued Cash Bonuses (if not paid earlier), plus interim Survival Benefit (if any), plus Terminal Bonus (if declared).
Where, Sum Assured on Maturity is total Annualized Premium payable under the policy during the premium payment term.
Please refer Product Brochure for details on Cash Bonus & Interim Survival Benefit.
The maturity benefit is equal to Sum Assured on Maturity plus accrued Guaranteed Income and Cash Bonuses (if not paid earlier), plus interim Survival Benefit (if any), plus Terminal Bonus (if declared).
Where, Sum Assured on Maturity is total Annualized Premium payable under the policy during the premium payment term.
Please refer Product Brochure for details on Cash Bonus & Interim Survival Benefit.
In case of death of Life Assured during the policy term, the death benefit shall be equal to Sum Assured on Death plus Accrued Cash Bonuses (if not paid earlier), plus Interim Survival Benefit (if any), plus Terminal Bonus (if declared).
The minimum Death Benefit shall be 105% of Total Premiums Paid2 as on date of death.
Sum Assured on Death is the highest of:
10 times the Annualized Premium, or
Sum Assured on Maturity, or
Death Multiple x Annualized Premium
For details on Death Multiple, please refer Product Brochure.
2 Total Premiums Paid is the total of all the premiums received, excluding any extra premium, any rider premium and taxes.
Upon the payment of the death benefit, the policy terminates and no further benefits are payable.
In case of death of Life Assured during the policy term, the death benefit shall be equal to Sum Assured on Death plus Accrued Cash Bonuses and Guaranteed Income (if not paid earlier), plus Interim Survival Benefit (if any), plus Terminal Bonus (if declared).
The minimum Death Benefit shall be 105% of Total Premiums Paid as on date of death.
Sum Assured on Death is the highest of:
10 times the Annualized Premium, or
Sum Assured on Maturity, or
Death Multiple x Annualized Premium
For details on Death Multiple, please refer Product Brochure.
Upon the payment of the death benefit, the policy terminates and no further benefits are payable.
Yes, we also offer additional benefits for the policies with Annual Premium more than or equal to ₹ 1.0 lakh. This is applicable only for Deferred Income Option. For more details, please refer “Additional Benefit for High Premium Policies” section in the Product brochure.
No, Plan option once chosen at inception cannot be changed throughout the policy term.
The plan can be applied by filing in the Short Medical Questionnaire (SMQ), which may not require you to go for medicals.
The policy will acquire a Guaranteed Surrender Value (GSV) provided at least first 2 years’ premiums have been paid.
The policyholder can avail Loan under the policy provided the policy has acquired a surrender value and subject to terms and conditions as the Company may specify from time to time.
You may be eligible for tax benefits as per prevailing tax laws under Income Tax Act, 1961.
Please note tax benefits are subject to change in tax laws.
ARN: PP/02/24/8580