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(A Non-Linked, Participating, Life Insurance Plan)

UIN: 101N136V01

As you approach different stages in life, there are dreams and aspirations that you set out for yourself and your family. You have to take care of day to day responsibilities. With rising life uncertainties, it is important to secure a source of income to that takes care of these expenses, more so after your retirement or in case of unfortunate demise. A Life Insurance plan offers financial protection against such unforeseen events.

To help you achieve your life’s milestones, we present to you “HDFC Life Sanchay Par Advantage”, a life insurance solution which allows you to live an uncompromised life, whilst securing the future of your family and, ensuring you leave behind a legacy for them.

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key attractions

Survival Benefit Payouts from as early as 1st Policy year

Survival benefit in form of cash bonus (if any) payouts from as early as 1st policy year.
Applicable for Immediate Income option only

Deferred Income option with guaranteed benefits

Guaranteed Income is payable for a fixed period and starts after Premium Payment Term + 1 year, provided all due premiums have been paid and the policy is in force

Tax Benefits

Tax benefits as per Income Tax, 1961. Tax benefits are subject to changes in tax laws

Eligibility

  • Entry Age:

    • Min: 0 years (30 days^)

    • Max:

      • Immediate Income - 65 years

      • Deferred Income - 55 years (for PPT 8 years) and 60 years (for PPT 10, 12 years)

  • Maturity Age: 100 years (Maximum)

  • Policy Term: 100 minus Age at Entry or A fixed policy term in the range of 30-40 years can be chosen

^Risk commences from the first policy anniversary where age at entry is less than 1 year. For all other ages, risk commences from the date of inception of the contract.
All ages mentioned above are age last birthday
.

Benefits

Survival Benefit:

Immediate Income option-

The policyholder would be eligible to receive Cash Bonus (if declared) at the end of each Policy Year and payable from the 1st policy year until death or end of policy term, whichever is earlier.

Cash Bonus payable = Cash Bonus Rate x Annualized Premium1.

Please refer Product Brochure for details on Cash Bonus Rate.

1Annualized Premium is 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.

Deferred Income option-

The policyholder will start receiving Guaranteed Income plus discretionary Cash Bonuses (if declared) in arrears one year after the end of Premium Payment Term.

Cash Bonus payable = Cash Bonus Rate x Annualized Premium

Guaranteed Income is expressed as Guaranteed Income Rate x Annualized Premium

Guaranteed Income Rate will be known to you at inception. Guaranteed Income would be payable for 25 years or Policy Term minus (Premium Payment Term + 1) years, whichever is lower, subject to your survival during this period.

Please refer Product Brochure for details on Guaranteed Income Rate and Cash Bonus Rate.

 

Maturity Benefit:

Immediate Income option-

The maturity benefit is equal to Sum Assured on Maturity plus accrued Cash Bonuses (if not paid earlier), plus interim Survival Benefit (if any), plus Terminal Bonus (if declared)

Where, Sum Assured on Maturity is total Annualized Premium payable under the policy during the premium payment term.

Please refer Product Brochure for details on Cash Bonus & Interim Survival Benefit

Deferred Income option-

The maturity benefit is equal to Sum Assured on Maturity plus accrued Guaranteed Income and Cash Bonuses (if not paid earlier), plus interim Survival Benefit (if any), plus Terminal Bonus (if declared)

Where, Sum Assured on Maturity is total Annualized Premium payable under the policy during the premium payment term.

Please refer Product Brochure for details on Cash Bonus & Interim Survival Benefit.

 

Death Benefit:

Immediate Income option-

In case of death of Life Assured during the policy term, the death benefit shall be equal to Sum Assured on Death plus Accrued Cash Bonuses (if not paid earlier), plus Interim Survival Benefit (if any), plus Terminal Bonus (if declared).

The minimum Death Benefit shall be 105% of Total Premiums Paid* as on date of death.

Sum Assured on Death is the highest of:

  • 10 times the Annualized Premium, or

  • Sum Assured on Maturity, or

  • Death Multiple x Annualized Premium

For details on Death Multiple, please refer Product Brochure.

*Total Premiums Paid is the total of all the premiums received, excluding any extra premium, any rider premium and taxes.

Deferred Income option-

In case of death of Life Assured during the policy term, the death benefit shall be equal to Sum Assured on Death plus Accrued Cash Bonuses and Guaranteed Income (if not paid earlier), plus Interim Survival Benefit (if any), plus Terminal Bonus (if declared).

The minimum Death Benefit shall be 105% of Total Premiums Paid as on date of death

Sum Assured on Death is the highest of:

  • 10 times the Annualized Premium , or

  • Sum Assured on Maturity, or

  • Death Multiple x Annualized Premium

For details on Death Multiple, please refer Product Brochure.

Under both options, upon the payment of the death benefit, the policy terminates and no further benefits are payable

 

Riders:

  • HDFC Life Income Benefit on Accidental Disability Rider (UIN - 101B013V03): A benefit equal to 1% of Rider Sum Assured per month for the next 10 years, in case of an Accidental Total Permanent Disability. There is no maturity benefit available under this rider.

  • HDFC Life Critical Illness Plus Rider (UIN - 101B014V02): A lump sum benefit equal to the Rider Sum Assured shall be payable in case you are diagnosed with any of the 19 Critical Illnesses and survive for a period of 30 days following the diagnosis. There is no maturity benefit available under this rider.

Please refer to the respective Rider Brochures on www.hdfclife.com for more details on Riders.

Payment Options

Premium Payment Terms:

  • Immediate Inc&nbome - 6, 8, 10, 12 years

  • Deferred Income - 8, 10, 12 years

Premium Payment Frequency:

You can choose your premium as per your needs. You can choose to pay your premiums either annually, half yearly, quarterly or monthly. The Premium limits are as specified below:

Frequency

Minimum Premium per Installment

Annual

25,000

Half-Yearly

12,750

Quarterly

6,500

Monthly

2,188

How Does It Work?

HDFC Life Sanchay Par Advantage – Immediate Income Option

Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy offers guaranteed benefits then these will be clearly marked “guaranteed” in the illustration table on this page. If your policy offers variable benefits then the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment performance

HDFC Life Sanchay Par Advantage – Deferred Income Option

Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy offers guaranteed benefits then these will be clearly marked “guaranteed” in the illustration table on this page. If your policy offers variable benefits then the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment performance.

Disclaimer

HDFC Life Insurance Company Limited (Formerly HDFC Standard 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.

Email: service@hdfclife.com, Tel. No: 1860 267 9999 (Mon-Sat 10 am to 7 pm) Local charges apply. Do NOT prefix any country code. e.g. +91 or 00. Website: www.hdfclife.com

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 Sanchay Par Advantage UIN: 101N136V01 is a Non-Linked Participating Life Insurance Plan. For more details on risk factors, associated terms and conditions and exclusions, please read the sales brochure carefully before concluding a sale.

es Bank is the Corporate Agent (IRDAI Reg. No. CA0125) of HDFC Life. Life Insurance policies are underwritten by HDFC Life. Purchase of life insurance policy is voluntary. ARN: BA/12/20/21865

BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/FRADULENT OFFERS

IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums.

Public receiving such phone calls are requested to lodge a police complaint.

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  • HDFC Life Sanchay Par Advantage - Leaflet
  • HDFC Life Sanchay Par Advantage - Brochure
  • Commission Disclosure
  • HDFC Life Sanchay Par Advantage - Standard Disclaimer