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Guaranteed Additions in HDFC Life Sanchay Plus Plan - UIN 101N134V09

Value of Guaranteed Additions in HDFC Life Sanchay Plus Plan. Understand how this works and how to arrive at the value of Guaranteed Additions in this plan.

By: Sachin Telawane | 
Read Time: 2 minutes, 23 seconds | 
Last Updated: 25-02-2022
Guaranteed Additions in HDFC Life Sanchay Plus Plan - UIN 101N134V09

Guaranteed Additions in HDFC Life Sanchay Plus Plan

How does the Guaranteed Additions work in this plan?

HDFC Life Sanchay Plus Plan has 4 options to choose from. They are as follows:
  • Guaranteed Maturity - Maturity amount paid as lumpsum at the end of the policy term.
  • Guaranteed income - Maturity benefit paid as a guaranteed income for a fixed period after the policy term ends.
  • Life Long income - Maturity benefit paid as a guaranteed income till the age of 99 years after the policy term ends.
  • Long Term Income -  Maturity benefit paid as a guaranteed income for a fixed period after the policy term ends. The fixed income payout is for a longer period compared to the “Guaranteed Income” option.
To understand in detail the workings of this plan refer to HDFC Life Sanchay Plus Review.

Now in the Guaranteed Maturity Option, the Maturity Benefit is defined as follows:

Maturity Benefits = “Guaranteed Sum Assured on Maturity” + “Guaranteed Additions” which have accrued.

While the Guaranteed Sum Assured on Maturity is simple to understand and clearly mentioned in the review, the Guaranteed Additions are based on a table as shown below. 

The Guaranteed Additions will accrue as follows:
  • For PPT of 5 years - accrues every year from the end of 6th year
  • For PPT of 6 years - accrues every year from the end of 7th year
  • For PPT of 10 years - accrues every year from the end of 8th year
End of policy year Guaranteed Addition per 1000 Guaranteed Sum Assured on Maturity
                     Premium Payment Term (PPT) = 5 years
Age <= 45 Age 46 to 50 Age 51 to 55 Age 56 to 60
6 63.8 58.9 54 49.1
7 63.8 58.9 54 49.1
8 63.8 58.9 54 49.1
9 63.8 58.9 54 49.1


Example:

Entry Age of Policyholder = 47
Sum Assured on Maturity = 10 lakhs

Then the Guaranteed Additions in each year will be calculated as follows:
58.9 x 10,00,000 / 1,000 = Rs. 58,900 

 

End of policy year Guaranteed Addition per 1000 Guaranteed Sum Assured on Maturity
               Premium Payment Term (PPT) = 5 years
Age <= 45 Age 46 to 50 Age 51 to 55 Age 56 to 60
7 77.1 72.2 67.8 63
8 77.1 72.2 67.8 63
9 77.1 72.2 67.8 63
10 77.1 72.2 67.8 63
11 77.1 72.2 67.8 63
12 87.1 82.2 77.8 73
 
Example:

Entry Age of Policyholder = 47
Sum Assured on Maturity = 10 lakhs

Then the Guaranteed Additions will be calculated as follows:
72.2 x 10,00,000 / 1,000 = Rs. 72,200
 
Ènd of policy year Gauranteed Additions
7 Rs. 72,200
8 Rs. 72,200
9 Rs. 72,200
10 Rs. 72,200
11 Rs. 72,200
12 Rs. 87,100
 
End of policy year Guaranteed Addition per 1000 Guaranteed Sum Assured on Maturity
                  Premium Payment Term (PPT) = 5 years
Age <=45 Age 46 to 50 Age 51 to 55 Age 56 to 60  
8 65.1 63.2 60.8 57.9
9 65.1 63.2 60.8 57.9
10 75.1 73.2 70.8 67.9
11 75.1 73.2 70.8 67.9
12 85.1 83.2 80.8 77.9
13 85.1 83.2 80.8 77.9
14 95.1 93.2 80.8 87.9
15 95.1 93.2 80.8 87.9
16 105.1 103.2 100.8 97.9
17 105.1 103.2 100.8 97.9
18 115.1 113.2 110.8 107.9
19 115.1 113.2 110.8 107.9
20 125.1 123.2 120.8 117.9
 
Example:

Entry Age of Policyholder = 47
Sum Assured on Maturity = 10 lakhs

Then the Guaranteed Additions in the 8th year will be calculated as follows:
63.2 x 10,00,000 / 1,000 = Rs. 63,200

End of Policy Year Gauranted Additions
8 Rs. 63,200
9 Rs. 63,200
10 Rs. 73,200
11 Rs. 73,200
12 Rs. 83,200
13 Rs. 83,200
14 Rs. 93,200
15 Rs. 93,200
16 Rs. 103,200
17 Rs. 103,200
18 Rs. 113,200
19 Rs. 113,200
20 Rs. 123,200

Hope this helps in clearly understanding how the Guaranteed Additions work in the HDFC Life Sanchay Plus Plan.

Sachin Telawane
Sachin Telawane is a Content Manager and writes on various aspects of the Insurance industry. His enlightening insights on the insurance industry has guided the readers to make informed decisions in the course of purchasing insurance plans.

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