What Is HDFC Life Sanchay Plus Plan?

HDFC Life Sanchay Plus Plan

HDFC Life Insurance Company Limited (d/b/a HDFC Life) is a long term life insurance provider headquartered in Mumbai, providing individual and group insurance services and was incorporated on 14 August 2000. The company is a joint venture between Housing Development Finance Corporation Limited (HDFC), one of India’s leading housing finance institutions, and Abrdn, a global investment company.

This company provides many types of investment plans, one of them is HDFC Life Sanchay Plus Plan which provides a good security to the family. In this article, we will tell you about HDFC Life Sanchay Plus Plan in detail.

HDFC Life Sanchay Plus”, a non-participating, non-linked, savings insurance plan that provides guaranteed returns while protecting your family’s future against unforeseen events, enables systematic savings and provides assured regular income. So that you can easily fulfill the dreams and commitments of your family.

You probably know that every stage of your life demands milestones to be achieved. Meeting the milestones with pride is the key to happiness in life. Flawless financial planning helps you to balance the balance of your life when unexpected liabilities, life-standard expenses and unforeseen events can happen. Your life becomes worry-free when the stages in life like marriage, parenthood and retirement are met with adequate preparation and planning.

Why do you need this plan?

  • guaranteed profit payout
  • Life cover to protect the future of the family
  • Stable retirement income with lifetime income option

Tax Benefits

  1. Provided all due premiums have been paid and the policy is in force.
  2. As per Income Tax Act, 1961. Tax benefits are subject to change in tax laws.

Features of HDFC Life Sanchay Plus Plan

Flexibility Flexibility:- There is the flexibility to claim for the guaranteed benefit wherein the Life Assured within HDFC Accumulation Plus can use it as a regular income or a lump sum amount.

Long Term Income Option Long Term Income Option:- This plan offers long term income option in which the insured can get guaranteed income for a fixed period of 25 years to 30 years.

Lifetime Income Option Lifetime Income Option:- The insured is most likely to get guaranteed income till the age of 99 years under HDFC Life Sanchay Plus.

Assured Returns Assured Returns:- With this plan, the insured gets assured returns and remains untouched by any market risks.

Rider Option Rider Option:- You can extend the HDFC Accumulation Plus coverage and choose the rider option on payment of additional premium amount.

Free-look period Free-look period:- The buyer of HDFC Sanchay Plus will get a free-look period of up to 15 days during which one can cancel the policy as per your requirements.

Tax Benefits Tax Benefits:- HDFC Life Sanchay Plus premium paid remains tax free under section 80C. Tax benefit is subject to change in tax laws.

Documents Required for HDFC Life Sanchay Plus

Documents required for HDFC Life Sanchay Plus:- Documents required for the company while buying HDFC Life Sanchay Plus

Natural Death / Calamity / Natural Calamities

  • Death claim form
  • Death certificate issued by Govt. /relevant authority
  • Identity and residence certificate of the claimant
  • Original Policy Documents (In case of DEMAT, original policy documents are not required)
  • NEFT Account Details
  • Medical records at the time of death and previous illnesses
  • Maturity, Money Back and Pension – Annuity Claim Document List
  • Un-Natural Death (Accidental Death / Murder / Suicide)

Death claim form

  • Death certificate issued by Govt. /relevant authority
  • Identity and residence certificate of the claimant
  • Original Policy Documents (In case of DEMAT, original policy documents are not required)
  • NEFT Account Details
  • FIR, Police Inquiry Report and Panchnama
    post mortem report
  • Maturity, Money Back and Pension – Annuity Claim Document List
  • Additional documentation may be requested on a case-to-case basis

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