Benefits of HDFC Sanchay Plus
Benefits of HDFC Sanchay Plus:- As HDFC Life Sanchay Plus offers four different plan options, let us have a look at the benefits offered by it.
- Guaranteed Maturity Option
- guaranteed income option
- lifetime income option
- long term income option
- Guaranteed Maturity Option
Maturity Benefit– The Maturity Benefit offered by the policy is equal to the Guaranteed Sum Assured on maturity plus the accumulated Guaranteed Additions. Maturity Benefit offered by the policy in the form of Guaranteed Sum Assured is the total annual premium paid under the policy during the premium paying term.
Death Benefit– In case of death of the Life Assured during the term of the policy, a death benefit equal to the Sum Assured is paid to the beneficiary of the policy. The highest sum assured paid to the nominee is:
10 times the annual premium or
105% of the total premiums paid or the
total sum assured to be paid on death.
guaranteed income option
Maturity Benefit– If the Life Assured survives the entire term of the policy, Maturity Benefit is paid as Guaranteed Income for a fixed tenure of 10 years-12 years, provided all the premiums of the policy have been paid till date Ho. Guaranteed Sum Assured on Maturity should be the present value of future payments, closed at 9% p.a.
Death Benefit– In case of death of the Life Assured during the term of the policy, a death benefit equal to the Sum Assured is paid to the beneficiary of the policy. The highest Sum Assured paid to the nominee is:
10 times the annual premium or
105% of the total premium paid or
the accumulated premium paid compounded annually at an interest of 5% p.a.
The total sum assured to be paid on death.
lifetime income option
Maturity Benefit– If the Life Assured survives the entire term of the policy and all premiums of the policy are reduced, the Maturity Benefit is paid as Guaranteed Income to the Life Assured till the age of 99 years and total The premium is refunded and is paid at the end of the policy’s payment term.
It is important to note that in case of death of the Life Assured during the payout term, the beneficiary of the policy will continue to receive the guaranteed income as per the benefit option chosen and the income payout frequency. Guaranteed Sum Assured on Maturity should be the present value of future payments, closed at 9% p.a.
Death Benefit– In the event of an uncertain death of the Life Assured during the term of the policy, the death benefit is paid to the beneficiary of the policy. The highest death benefit paid is:
10 times the annual premium or
105% of the total premiums paid or
the accumulated premiums paid at an interest of 5% p.a. compounded annually.
The total sum assured to be paid on death.
Sum Assured payable on death will be equal to Death Benefit multiple times the annual premium.
Long term income option
Maturity Benefit– If the Life Assured survives the entire term of the policy and all premiums of the policy are reduced, Maturity Benefit will be paid to the Life Assured in the form of Guaranteed Income for a fixed period of 25-30 years and the consideration is paid. The total premium is paid at the end of the policy’s payment term.
It is important to note that, in case of death of the Life Assured during the payout term, the beneficiary will continue to receive the guaranteed income as per the benefit option chosen till the end of the payout term and income payout frequency. Guaranteed Sum Assured on Maturity should be the present value of future payments, closed at 9% p.a.
Death Benefit– In the event of an uncertain death of the Life Assured during the term of the policy, the death benefit is paid to the beneficiary of the policy. The highest death benefit paid is:
10 times the annual premium or
105% of the total premiums paid or
the accumulated premiums paid at an interest of 5% p.a. compounded annually.
The total sum assured to be paid on death.
Tax Benefits
HDFC Life Sanchay Plus provides the benefit of tax exemption to the insured. The maturity proceeds and premiums paid for the policy are eligible for tax exemption under sections 10(10D) and 80C of the Income Tax Act 1961, up to a maximum limit of Rs 1.5 lakh.
How to buy HDFC Life Sanchay Plus
First of all, while buying a term plan online, first calculate the premium according to your desired sum insured and term on the online term insurance calculator, then you can take the plan by contacting an agent of the company.
Conclusion:
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