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Salient Features

  • Non-linked, non-participating savings and life insurance plan.

  • Offers guaranteed returns along with life insurance protection.

  • Choose between receiving your benefits as a lump sum or regular income, depending on the selected plan option.

  • Four benefit options are available:

  • Guaranteed Maturity

  • Guaranteed Income

  • Life Long Income

  • Long Term Income

  • Receive guaranteed income for a fixed period or throughout your lifetime (up to 99 years of age), depending on the chosen variant.

  • Selected plan options offer a return of total premiums paid at the end of the payout period.

  • Provides a death benefit along with applicable Guaranteed Additions, subject to the policy terms.

  • Flexible policy terms and premium payment options to suit different financial goals.

  • Enhance your protection by adding optional riders on payment of an additional premium.

  • Tax benefits may be available on premiums paid and benefits received under the applicable provisions of the Income Tax Act, 1961, subject to the prevailing tax laws.

T&C Apply.

Know More About HDFC Life Sanchay Plus

About HDFC Life Sanchay Plus

HDFC Life Sanchay Plus is an individual, non-linked, non-participating savings and life insurance plan designed to help you achieve your long-term financial goals. The plan combines guaranteed returns with life insurance protection, helping you build a financial cushion for future milestones while securing your loved ones against unforeseen events. It also offers the flexibility to choose a payout option that best suits your financial needs.

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Plan Benefits

HDFC Life Sanchay Plus offers four benefit options, allowing you to choose a plan that aligns with your financial goals and income requirements.

  • Guaranteed Maturity Option: Receive a lump sum maturity benefit at the end of the policy term. The payout includes the Sum Assured on Maturity along with the applicable Guaranteed Additions, subject to the policy terms.

  • Guaranteed Income Option: Receive a guaranteed regular income for 10 or 12 years, starting one year after the policy term ends.

  • Life Long Income Option: Receive guaranteed regular income beginning one year after the policy term, with payouts continuing until the life assured attains 99 years of age.

  • Long Term Income Option: Receive guaranteed regular income for a fixed period of 25 or 30 years. At the end of the payout period, the plan also returns the total premiums paid, subject to the policy terms.

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Additional Benefits

  • Optional Riders: Enhance your protection by adding optional riders on payment of an additional premium. Available rider options include:

    • HDFC Life Income Benefit on Accidental Disability Rider

    • HDFC Life Protect Plus Rider

    • HDFC Life Health Plus Rider

  • Tax Benefits: Tax benefits on the premiums paid and benefits received may be available under the applicable provisions of the Income Tax Act, 1961, subject to the prevailing tax laws.

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Eligibility & Plan Details

The eligibility criteria for HDFC Life Sanchay Plus vary depending on the benefit option selected, namely Guaranteed Income, Guaranteed Maturity, Life Long Income, or Long Term Income.

Plan Details

Parameter

Details

Entry Age

Guaranteed Income & Guaranteed Maturity: 30 days to 65 years

Life Long Income: 50 to 60 years

Long Term Income: 31 to 60 years

Maturity Age

Minimum: 18 years (55 years for the Life Long Income option)
Maximum: 85 years for most options; 75 years for the Long Term Income option

Policy Term

Ranges from 5 to 20 years, depending on the selected benefit option and Premium Payment Term (PPT).

Premium Payment Frequency

Single Pay, Annual, Half-yearly, Quarterly, or Monthly

Minimum Premium

Single Pay: ₹30,000
Annual: ₹30,000
Half-yearly: ₹15,000
Quarterly: ₹7,500
Monthly: ₹2,500

Maximum Premium

No upper limit, subject to the Board Approved Underwriting Policy (BAUP).

Premium Payment Term (PPT)

You can choose between Single Pay and Limited Pay options.

Under the Limited Pay option, the available Premium Payment Terms are:

  • Guaranteed Income, Life Long Income, and Long Term Income: 5, 6, 7, 8, 9, 10, 11, or 12 years.

  • Guaranteed Maturity: 5, 6, 7, 8, 9, 10, 11, 12, 15, or 20 years.

Sum Assured on Death

In the unfortunate event of the Life Assured's demise during the policy term, the Sum Assured on Death will be the highest of the following:

  • 10 times the Annualised Premium, or 1.25 times the Single Premium, as applicable.

  • 105% of the total premiums paid.

  • Total premiums paid accumulated at an interest rate of 5% per annum, compounded annually.

  • Sum Assured on Maturity.

  • The absolute amount assured on death, calculated using the applicable Death Benefit Multiple, as specified under the policy terms.

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Disclaimer

  • The guaranteed benefits under the plan are available only if all due premiums have been paid and the policy is active and in force, subject to the policy terms and conditions.

  • The minimum premium amounts mentioned are exclusive of applicable taxes, levies, and other statutory charges, which will be charged as per the prevailing laws.

  • All age-related criteria referred to under the plan are based on the age last birthday of the life assured.

  • The life insurance cover under the policy commences from the policy commencement date for all lives, including minors, subject to the terms and conditions of the policy.

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Frequently Asked Questions

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.

The policy will acquire a Guaranteed Surrender Value (GSV) upon the payment of at least first two years’ Premium(s).

No, Plan option once chosen at inception cannot be changed throughout the policy term.

You can choose to receive the Guaranteed Income on Annual, Semi-Annual, Quarterly or Monthly frequency. Please refer brochure for more details.

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.

​​​​​​​Yes, we also offer additional Maturity benefit / Income Benefit for the policies with Annual Premium more than ₹1.5 lakhs.

At any point of time during the Payout Period, you shall have an option to receive the future income as a Lump Sum, which shall be the present value of future payouts, discounted at a rate which is computed using the prevailing interest rates.

In case of death of Life Assured during the policy term, the Death Benefit equal to Sum Assured on Death shall be payable to the Nominee.

Sum Assured on Death is the highest of:

  • 10 times the Annualized Premium1, or
  • 105% of Total Premium(s) paid2, or
  • Premiums paid accumulated at an interest of 5% p.a. compounded annually, or
  • Guaranteed Sum Assured on Maturity, or
  • an absolute amount assured to be paid on death, which is equal to the Sum Assured Sum Assured will be determined based on your entry age and the Annualized Premium you commit to pay in a Policy Year.

Guaranteed Sum assured on Maturity shall be present value of future payouts discounted at a rate of 9% p.a.
Upon the payment of the death benefit, the policy terminates and no further benefits are payable.
1 Annualized Premium shall be the premium amount payable in a year chosen by the Policyholder, excluding the taxes, Rider premiums, Underwriting extra premiums and loadings for modal premiums, if any.
2 Total Premiums paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

On death of the Life Assured during the Payout Period, the Nominee shall continue receiving Guaranteed Income as per Income Payout Frequency & benefit option chosen till the end of Payout Period.

There are four plan options available under HDFC Life Sanchay Plus

  • Guaranteed Maturity: This option offers a guaranteed Maturity benefit payable as Lump Sum at the end of policy term.
  • Guaranteed Income: This option offers a guaranteed regular income for a fixed term of 10 or 12 years.
  • Life Long Income: This option offers guaranteed regular income up to age 99 years plus return of premium at the end of Payout Period.
  • Long Term Income: This option offers guaranteed regular income for a long term of 25 or 30 years plus return of premium at the end of payout period. .

In case of death of Life Assured during the policy term, the Death Benefit equal to Sum Assured on Death plus Accrued Guaranteed Additions shall be payable to the Nominee.

Sum Assured on Death is the highest of:

  • 10 times the Annualized Premium1, or
  • 105% of Total Premium(s) paid2, or
  • Guaranteed Sum Assured on Maturity, or
  • an absolute amount assured to be paid on death, which is equal to the Sum Assured.
  • Sum Assured will be determined based on your entry age and the Annualized Premium you commit to pay in a Policy Year.
  • Upon the payment of the death benefit, the policy terminates and no further benefits are payable.
  • Annualized Premium shall be the premium amount payable in a year chosen by the Policyholder, excluding the taxes, Rider premiums, Underwriting extra premiums and loadings for modal premiums, if any.
  • Total Premiums paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

The Premium(s) can be paid annually, half-yearly, quarterly and monthly.

Yes, Life Long Income option offers you a Guaranteed Income up to age 99 years.

The plan can be applied by filing in the Short Medical Questionnaire (SMQ), which may not require you to go for medicals.

Yes, changes in income payout frequency and premium payment frequency are allowed.

The Maturity benefit is equal to Guaranteed Sum Assured on Maturity plus accrued Guaranteed Additions.
Where, Guaranteed Sum Assured on Maturity is total Annualized Premium1 payable under the policy during the premium payment term.

Please refer brochure for details on Guaranteed Additions.
1. Annualized Premium shall be the premium amount payable in a year chosen by the Policyholder, excluding the taxes, Rider Premium(s), Underwriting extra premiums and loadings for modal premiums, if any.