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There are 4 plan options which determine how you can receive the benefits from this policy.

We will understand this plan better with the help of examples.

Plan Name | HDFC Life Sanchay Plus |
---|---|

Policy Type | Investment - Guaranteed Benefit |

UIN | 101N134V09 |

How does HDFC Life Sanchay Plus Policy Work?

**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.

We will understand each option better with the help of examples.

COMPARE THIS PLAN WITH OTHER ENDOWMENT PLANS

Let us look at one option at a time.

You can opt for this option in the following 3 ways:

- Policy Term (PT) of 10 years, where you pay premiums (PPT) for 5 years
- Policy Term (PT) of 12 years, where you pay premiums (PPT) for 6 years
- Policy Term (PT) of 20 years, where you pay premiums (PPT) for 10 years

Policy Term | Premium Payment Term (PPT) |
Payout Benefit |
---|---|---|

10 years | 5 years | Lumpsum benefit at the end of 10 years |

12 years | 6 years | Lumpsum benefit at the end of 12 years |

20 years | 10 years | Lumpsum benefit at the end of 20 years |

So if you have selected Policy Term of 20 years and Premium Payment Term (PPT) of 10 years, you will have to pay premiums for 10 years and then get a lumpsum amount at the end of 20 years. Now let us understand the quantum of benefits that you will get.

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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

Click to know the workings of Guaranteed Additions Rates for Sanchay Plus Plan.

Let us understand this option better with the help of an example. Suppose Rakesh who is healthy and

His life cover of Sum Assured (

Now, Sum of Annualised Premium = 1 lakh x 10 years = 10 lakhs

Guaranteed Additions (

End of Year | GA Rate per 1,000 SA | GA Amount |
---|---|---|

8 | 65.1 | Rs. 65,100 |

9 | 65.1 | Rs. 65,100 |

10 | 75.1 | Rs. 75,100 |

11 | 75.1 | Rs. 75,100 |

12 | 85.1 | Rs. 85,100 |

13 | 85.1 | Rs. 85,100 |

14 | 95.1 | Rs. 95,100 |

15 | 95.1 | Rs. 95,100 |

16 | 105.1 | Rs. 1,05,100 |

17 | 105.1 | Rs. 1,05,100 |

18 | 115.1 | Rs. 1,15,100 |

19 | 115.1 | Rs. 1,15,100 |

20 | 125.1 | Rs. 1,25,100 |

Total |
Rs. 12,06,300 |

So the

This is a Guaranteed Amount which will be paid to the customer.

- 10 times the Annualised Premium
- 105% of Total Premiums paid
- Guaranteed Sum Assured on Maturity
- Sum Assured

You can opt for this option in the following 2 ways:

Policy Term (

Policy Term (

Based on the above, the maturity benefit payable will be as follows:

Policy Term | Premium Payment Term (PPT) |
Payout Benefit |
---|---|---|

11 years | 10 years | Guaranteed Income paid from 12th year to 21st year |

13 years | 12 years | Guaranteed Income paid from 14th year to 25th year |

Based on the above, the Guaranteed Income payable is as follows:

PPT | Guaranteed Income Payable each year | |
---|---|---|

Entry Age: 5 to 50 years | Entry Age: 51 to 60 years | |

10 years | 188% of Annualised Premium | 179% of Annualised Premium |

12 years | 209% of Annualised Premium | 194% of Annualised Premium |

- On maturity you will still have the option of converting the income payments into a lumpsum payment. All future income will be discounted at a rate approved by IRDAI to arrive at this lumpsum amount.
- At any point during the income payout period, you will have the option of converting the balance income payments into a lumpsum payment. All future income will be discounted at a rate approved by IRDAI to arrive at this lumpsum amount.
- In case of death of the policyholder during the income payout period, the nominee will continue to receive the balance income payouts. The nominee too can convert the balance payments to lumpsum as mentioned above.

Let us understand this option better with the help of an example. Suppose Rakesh who is healthy and

His life cover of Sum Assured (

Year | Annual Income |
---|---|

14 | Rs. 2,09,000 |

15 | Rs. 2,09,000 |

16 | Rs. 2,09,000 |

17 | Rs. 2,09,000 |

18 | Rs. 2,09,000 |

19 | Rs. 2,09,000 |

20 | Rs. 2,09,000 |

21 | Rs. 2,09,000 |

22 | Rs. 2,09,000 |

23 | Rs. 2,09,000 |

24 | Rs. 2,09,000 |

25 | Rs. 2,09,000 |

Total |
Rs. 25,08,000 |

So the

This is a Guaranteed Amount which will be paid to the customer.

- 10 times the Annualised Premium
- 105% of Total Premiums paid
- Premiums paid till date at an interest of 5% p.a. compounded annually
- Guaranteed Sum Assured on Maturity
- Sum Assured

You can opt for this option in the following 4 ways:

- Policy Term (
**PT**) of 6 years, where you pay premiums (**PPT**) for 5 years - Policy Term (
**PT**) of 7 years, where you pay premiums (**PPT**) for 6 years - Policy Term (
**PT**) of 10 years, where you pay premiums (**PPT**) for 11 years - Policy Term (
**PT**) of 12 years, where you pay premiums (**PPT**) for 13 years

Based on the above, the guaranteed income payable will be as follows:

Policy Term | Premium Payment Term (PPT) |
Payout Benefit |
---|---|---|

6 years | 5 years | Guaranteed Income from 7th year to age of 99 |

7 years | 6 years | Guaranteed Income from 8th year to age of 99 |

11 years | 10 years | Guaranteed Income from 12th year to age of 99 |

13 years | 12 years | Guaranteed Income from 14th year to age of 99 |

Based on the above, the Guaranteed Income payable is as follows:

PPT | Guaranteed Income Payable each year |
---|---|

5 years | 31.75% of Annualised Premium |

6 years | 41% of Annualised Premium |

7 years | 91% of Annualised Premium |

7 years | 121% of Annualised Premium |

- On maturity you will still have the option of converting the income payments into a lumpsum payment. All future income will be discounted at a rate approved by IRDAI to arrive at this lumpsum amount.
- At any point during the income payout period, you will have the option of converting the balance income payments into a lumpsum payment. All future income will be discounted at a rate approved by IRDAI to arrive at this lumpsum amount.
- In case of death of the policyholder during the income payout period, the nominee will continue to receive the balance income payouts. The nominee too can convert the balance payments to lumpsum as mentioned above.

Let us understand this option better with the help of an example. Suppose Rakesh who is healthy and

His life cover of Sum Assured (

From the 12th year till the age of 99 years (38 years in total) an annual income of Rs. 91,000 will be payable.

So the

This is a Guaranteed Amount which will be paid to the customer.

- 10 times the Annualised Premium
- 105% of Total Premiums paid
- Premiums paid till date at an interest of 5% p.a. compounded annually
- Guaranteed Sum Assured on Maturity
- Sum Assured

You can opt for this option in the following 4 ways:

- Policy Term (
**PT**) of 6 years, where you pay premiums (PPT) for 5 years - Policy Term (
**PT**) of 7 years, where you pay premiums (PPT) for 6 years - Policy Term (
**PT**) of 10 years, where you pay premiums (PPT) for 11 years - Policy Term (
**PT**) of 12 years, where you pay premiums (PPT) for 13 years

Based on the above, the guaranteed income payable will be as follows:

Policy Term | Premium Payment Term (PPT) |
Payout Benefit |
---|---|---|

6 years | 5 years | Guaranteed Income from 7th to 36th year (25 years) |

7 years | 6 years | Guaranteed Income from 8th to 37th year (30 years) |

11 years | 10 years | Guaranteed Income from 12th to 36th year (25 years) |

13 years | 12 years | Guaranteed Income from 14th to 38th year (25 years) |

Based on the above, the Guaranteed Income payable is as follows:

PPT | Guaranteed Income Payable each year |
---|---|

5 years | 33.75% of Annualised Premium |

6 years | 43.5% of Annualised Premium |

10 years | 97.75% of Annualised Premium |

12 years | 129.75% of Annualised Premium |

- On maturity you will still have the option of converting the income payments into a lumpsum payment. All future income will be discounted at a rate approved by IRDAI to arrive at this lumpsum amount.
- At any point during the income payout period, you will have the option of converting the balance income payments into a lumpsum payment. All future income will be discounted at a rate approved by IRDAI to arrive at this lumpsum amount.
- In case of death of the policyholder during the income payout period, the nominee will continue to receive the balance income payouts. The nominee too can convert the balance payments to lumpsum as mentioned above.

Let us understand this option better with the help of an example. Suppose Rakesh who is healthy and

His life cover of Sum Assured (

From the 12th year to the 36th year (25 years in total) an annual income of Rs. 97,750 will be payable.

So the

This is a Guaranteed Amount which will be paid to the customer.

- 10 times the Annualised Premium
- 105% of Total Premiums paid
- Premiums paid till date at an interest of 5% p.a. compounded annually
- Guaranteed Sum Assured on Maturity
- Sum Assured

The Sum Assured in this plan is arrived at the Death Benefit Multiple with the Annualised Premium. The Sum Assured will depend on the Age of Entry and the Annualised Premium you pay every year. The Multiples are as shown here

Eligibility Criteria for HDFC Life Sanchay Plus Plan

Plan Option | Criteria | Minimum | Maximum |
---|---|---|---|

Guaranteed Maturity |
Entry Age | 5 | 55 |

Guaranteed Income |
5 | 54 | |

Lifelong Income |
50 | 59 | |

Long Term Income |
5 | 59 | |

Guaranteed Maturity |
Maturity Age | 18 | 65 |

Guaranteed Income |
18 | ||

Lifelong Income |
56 | ||

Long Term Income |
18 | ||

All Options |
Premium | Annual - Rs. 30,000Half Yearly - 15,000Quarterly - 7,500Monthly - Rs. 2,500 |

- Monthly premium mode - 15 days
- Quarterly, Half yearly & Annual - 30 days

That pretty much wraps up the understanding of HDFC Life Sanchay Plus Plan. We hope you find this useful.

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