HDFC Life Sanchay Par Advantage
Secure lifelong regular income with built-in whole life coverage and receive a minimum maturity sum assured of ₹3 Lakh
UIN: 101N136V03
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Save Tax up to ₹46,8004
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99.39% Claim settlement ratio5
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Life Coverage up to age 100
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Cash Bonus from 1st policy year6
Safeguard your family’s future with our Insurance Plans
Why choose HDFC Life Sanchay Par Advantage?
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Whole life cover + life long cover1 option Immediate income option for your various needs
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Enjoy enhanced benefits for policies with Annual Premium of ₹ 1lakh and above
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Accumulate survival benefits
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Choose Payout Period based on your various milestones and financial goals.
Not sure which insurance suits your needs?
Talk to us! Let us help you.
Mail us: outreach.insurance@incredwealth.com
Call us: 8044633460
Frequently Asked Questions
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You can buy this plan through InCred Wealth's partnership with HDFC Life, either online or offline. On our website, you have the option to view and compare the plan's features and benefits before entering your details. We will have a Relationship Manager reach out to you soon.
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Under HDFC Life Sanchay Par Advantage, there are two plan options to choose from:
Immediate Income: This option provides a regular income through cash bonuses (if declared) starting from the first policy year, along with a lump sum payout at maturity.
Deferred Income: This option guarantees an income for a specific period and also includes regular income through cash bonuses (if declared) throughout the policy term.
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Cash Bonus is declared and paid out every financial year based on the frequency chosen (annual, half-yearly, quarterly, or monthly). It serves as a reliable source of regular income and is not dependent on claims.
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Guaranteed Income is determined by multiplying the Guaranteed Income Rate with the Annualized Premium. The Guaranteed Income Rate is based on your age and premium payment term. This assured amount is known right from the start and will be paid for either 25 years or the policy term minus (premium payment term + 1) years, whichever is lower. The condition is that you survive during this period. Guaranteed Income starts after the premium payment term plus one year, provided all due premiums have been paid and the policy is active.
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The Guarantee Period is the duration that is the lesser of 25 years or the policy term minus (premium payment term + 1) year. It commences after the premium payment term plus one year. The Guarantee Period is applicable only for the Deferred Income Option.
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- You can choose to pay the premiums annually, half-yearly, quarterly, or monthly.
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- Survival Benefits can be received on an annual, half-yearly, quarterly, or monthly basis.
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- T&;C*
- 1. Applicable on choosing a policy term as (100 - age at entry) years.
- 2. Guaranteed Income is payable for a fixed period and starts after Premium Payment Term + 1 years, provided all due premiums have been paid and the policy is in force.
- 3. As per Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.
- 4. Save Tax up to ₹46,800: Save ₹46,800 on taxes if the insurance premium amount is ₹1.5 lakh per annum and you are a Regular Individual, fall under the 30% income tax slab, have taxable income less than ₹50 lakh, and opt for the Old tax regime. As per the Income Tax Act, 1961, tax benefits are subject to change in tax laws.
- 5. 99.39% Claim settlement ratio: Individual death claim settlement ratio by the number of policies as per audited annual statistics for FY 2022-23.
- 6. Cash Bonus from 1st policy year: Get cash bonus (if declared). Applicable on the immediate income option.
- 7. Lifelong regular income + Inbuilt whole life cover: Applicable on choosing a policy term as (100 - age at entry) years.
- 8. Premium starts from ₹2,188/month: Illustration is for an 18-year-old male, policy term 20 years, premium paying term 12 years, premium frequency monthly (excluding tax).
- ^Regular yearly income will be paid as a Cash Bonus (if declared), for the entirety of the policy term.
- * Please refer to the Benefit Illustration for year wise Death Benefit.
- ** Maturity Benefit comprises Sum Assured on Maturity (₹ 8,00,000) and Terminal bonus.
- ~ARR: These assumed rates of returns are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of the policy is dependent on a number of factors including future investment performance. 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 illustration 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 value of your policy is dependent on a number of factors including future investment performance.
- # As per Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.
- A. The Premium(s) are excluding applicable taxes & levies.
- B. This snapshot of illustration is only for HDFC Life Sanchay Par Advantage for a healthy male life.
