Savings Solutions

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HDFC Life sANCHAY pAR aDVANTAGE

HDFC Life Sanchay Par Advantage is a participating life insurance scheme offering coverage for the entirety of life (up to age 100). This plan offers a comprehensive solution to generate regular income, build savings, and secure your family’s future without compromise.

KEY BENEFITS

  • Lifelong protection coverage up to age 100
  • Option to select Immediate or Deferred Income based on individual requirements
  • Flexibility in receiving survival benefit payouts.

PLAN OPTIONS

INSTANT INCOME

A choice offering consistent cash bonuses (if announced) from the first policy year, alongside a lump sum payout at maturity, ensuring a legacy for your family. 

DEFERRED INCOME

A selection ensuring Guaranteed Income for a specified guarantee period, accompanied by regular cash bonuses (if declared) throughout the policy duration. This option also includes a lump sum payout at maturity, securing a legacy for your loved ones.

BENEFITS FOR INSTANT INCOME

Survival Benefit: Policyholders are entitled to receive Cash Bonuses (if declared) annually, starting from the first policy year until death or the end of the policy term, whichever occurs first. The Cash Bonus payable is calculated as the Cash Bonus Rate multiplied by the Annualized Premium.

Maturity Benefit: At the end of the policy term, for policies with all due premiums paid, the Maturity Benefit includes the Sum Assured on Maturity, accrued Cash Bonuses (if not previously paid), Interim Survival Benefit (if applicable), and Terminal Bonus (if declared). The policy terminates upon payment of the Maturity Benefit.

Death Benefit: In the event of the life assured’s death during the policy term with all due premiums paid, the Death Benefit payable to the nominee is a lump sum consisting of the Sum Assured on Death, accrued Cash Bonuses (if not previously paid), Interim Survival Benefit (if any), and Terminal Bonus (if declared). The minimum Death Benefit is 105% of Total Premiums Paid. The policy terminates upon payment of the Death Benefit.

BENEFITS FOR DEFERRED INCOME

Survival Benefit: Policyholders start receiving Guaranteed Income plus discretionary Cash Bonuses (if declared) one year after the Premium Payment Term ends. The Cash Bonus is calculated as the Cash Bonus Rate multiplied by the Annualized Premium, while Guaranteed Income is determined by the Guaranteed Income Rate based on Age and Premium Payment Term.

Maturity Benefit: For policies with all due premiums paid, the Maturity Benefit includes the Sum Assured on Maturity, accrued Cash Bonuses (if not previously paid), Interim Survival Benefit (if applicable), and Terminal Bonus (if declared). The policy terminates upon payment of the Maturity Benefit.

Death Benefit: In the event of the life assured’s death during the policy term with all due premiums paid, the Death Benefit payable to the nominee is a lump sum consisting of the Sum Assured on Death, accrued Cash Bonuses (if not previously paid), Interim Survival Benefit (if any), and Terminal Bonus (if declared). The minimum Death Benefit is 105% of Total Premiums Paid. The policy terminates upon payment of the Death Benefit.

HDFC Life GUARANTEED WEALTH PLUS

‘HDFC Life Guaranteed Wealth Plus’ is a life insurance plan offering Guaranteed Death Benefit throughout the policy term. It comes in two variants: Lump sum and Income, chosen at policy inception. Depending on the variant selected, the plan may offer Guaranteed Survival Benefit during the policy term, along with Maturity Benefit at the end of the term.

KEY BENEFITS

Death Benefit: HDFC Life Guaranteed Wealth Plus ensures your family’s financial security by providing the Sum Assured on Death as a lump sum in the event of the life assured’s demise during the policy term. The Sum Assured on Death is determined as the higher of:

  • X times the annualized premiums for limited pay, or 1.25 times the single premium for the Single Premium Payment option for the base policy; or
  • 105% of the Total Premiums Paid up to the date of death.

Maturity Benefit: For Variant 1 – Lump Sum Variant, a fixed percentage of either the single premium or the total Annualized Premiums paid under the policy is payable as a lump sum maturity benefit at the end of the policy term. For Variant 2 – Income Variant, a lump sum equal to 100% of the total premiums paid during the policy term is received at the end of the policy term.

Survival Benefit: Under the Lump Sum Variant, no survival benefit is applicable. However, with the Income Variant, the policyholder receives Guaranteed Income in arrears from the 7th to the 14th policy year, depending on the chosen payout frequency. These percentages are based on the life assured’s age, annualized premium band, and death benefit multiple chosen at policy inception.

ADDITIONAL BENEFITS

HDFC Life Guaranteed Wealth Plus also offers additional benefits through riders such as

  • HDFC Life Income Benefit on Accidental Disability Rider
  • HDFC Life Critical Illness Plus Rider.
  • HDFC Life Protect Plus Rider.

Save Today, Enjoy Tomorrow

Savings Solutions

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