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A non-linked, non-participating, individual, savings, life insurance plan

With every life stage, there are diff­erent dreams and set of milestones that you would like to achieve for yourself and your family. While the milestones are quantifiable, life itself is uncertain. You can’t avoid uncertainties but can definitely plan to manage them better. To help you achieve the same, we at HDFC Life bring you “HDFC Life Sanchay Fixed Maturity Plan”, a life insurance plan that safeguards your loved ones’ future in case of unforeseen events and provides guaranteed* returns in the form of a lump sum benefit to help you attain your milestones.

All you need to know

BENEFITS

  • Annualised Premium or Single Premium: The premium amount payable in a year chosen by the policyholder for a Regular/Limited pay policy or paid by the policyholder at the outset in case of Single Pay policy, excluding taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.
  • Annual Premium: The premium amount payable in a year chosen by the policyholder for a Regular/Limited pay policy, excluding taxes and rider premiums, but including underwriting extra premiums and loadings for modal premiums, if any.
  • Total Premiums Paid: Total of all the premiums received, excluding any extra premium, any rider premium and taxes.
  • Sum Assured on Death: The absolute amount of benefit which is guaranteed* to become payable on death of the life assured in accordance with the terms and conditions of the policy. It’s defined as 7 times Annualized premium for a Regular/Limited pay policy and 1.25 times Single Premium for a Single Pay policy.
  • Sum Assured on Maturity: The amount which is guaranteed* to become payable on maturity of the policy, in accordance with the terms and conditions of the policy.

View Commission-related information

FAQs

Assured Returns – The plan offers assured returns on maturity

Frequency of Premium Payments- Another feature that makes this plan a good option to invest in is flexibility to choose the type of premium payment options.

Tenure – This plan offers a wide range of Policy Term of upto 40 years.

Joint Life cover- Another factor that makes this plan attractive is the option of joint life cover.

Tax- Tax benefits shall be available as per applicable tax laws

A fixed maturity plan is best suited for people who want to get assured returns at maturity. This plan can be used for various life stage needs such as child’s education, marriage, retirement corpus as well as financially securing loved ones.

​​​​​​​Yes, Policy loans will be available during the Policy Term subject to such terms and conditions specified by HDFC Life. For more detail, please refer the product brochure.

While it is advisable to continue the policy to enjoy the maximum benefit offered under this plan, we understand that certain circumstances may arise that you may want to Surrender your policy. Surrender is allowed under the plan. A policy shall acquire a Guaranteed* Surrender Value immediately on the payment of Single Premium and on payment of at least first two years’ premium in case of a Regular/ Limited Pay policy. For more details, please refer the product brochure.

HDFC Life Sanchay Fixed Maturity Plan scheme comes with a variety of premium frequency options. You can choose to opt for premium payment frequency as single, annual, half - yearly, quarterly, and monthly.

Yes, Change of Premium Payment Frequency is allowed. Premium payment frequency available under the plan are Yearly, Half Yearly, Quarterly and Monthly.

Grace Period is not applicable for Single Premium. For Regular/ Limited Premium payment term you get a grace period of 15 days for monthly Frequency of Premium Payment and 30 days for other frequencies to pay the premium

No, Policy Term and premium payment term chosen at inception shall remain the same for the duration of your policy.

Yes, you can avail Tax Benefits as per prevailing tax laws. You are requested to consult your tax advisor.

Disclaimer

  • *Provided all the due premiums are paid and the policy is in force. Tax benefits are subject to changes in tax laws. Please consult your Tax consultant to know the Tax Benefits available to you. HDFC Life Insurance Company Limited (“HDFC Life”). CIN: L65110MH2000PLC128245. IRDAI Registration No. 101. Registered Office: 13th Floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai - 400 011. The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. HDFC Life Insurance Company Limited. Insurance is subject to matter of solicitation. For more details on risk factors, terms and conditions and exclusions please read the product brochure before conclusion of sale. HDFC Life Sanchay Fixed Maturity Plan (UIN:101N142V01) is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan. Life Insurance Coverage is available in this product. HDFC Bank Limited is the Corporate Agent (IRDAI Reg. No. CA0010) of HDFC Life. Insurance policy is underwritten by HDFC Life. Purchase of Insurance policy is voluntary. 
  • ​​​​​​​“As per recent changes in section 10(10D) of Income Tax Act, where the amount of aggregate annual premium payable in the financial year in case of Traditional plans (all non-unit linked plans except Annuity, Pension and Pure Risk Plans) issued on or after 1st April 2023 exceeding INR 5,00,000 the benefits of the policy/policies shall not be eligible for exemption under section 10(10D) except in case of death”. The customer is requested to seek advice of a tax advisor with respect to his/her personal tax liabilities under the Indian Income-tax law."