Savings Plans
What are saving plans?
A savings plan is a financial product designed to help individuals grow their savings over a set period. These plans provide a combination of wealth creation and financial protection. With flexible premium payment options, individuals can choose a frequency that suits their financial situation. At maturity, policyholders can receive a lump sum payout or periodic payments to meet their financial goals. Savings plans may also offer tax benefits and potential bonuses, further enhancing savings growth. These plans provide individuals with a comprehensive solution to build and protect their wealth effectively.
Explore our Insurance Solutions
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Savings Plans
HDFC Life Sanchay Plus
UIN: 101N134V20
Looking for safe financial instrument which provides alternate source of income.
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Guaranteed1 Income4 for period of 25 or 30 years
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Get Back Premiums as Guaranteed1 Lumpsum Benefit4 on maturity
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Life Cover to protect your family
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Savings Plans
HDFC Life Click 2 Achieve
UIN: 101N186V02
Customize the benefits with this flexible savings plan.
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Guaranteed1 Benefits
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Flexibility in choice of benefits
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Increasing upto 10% p.a18
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Savings Plans
HDFC Life Sanchay Par Advantage
UIN: 101N186V02
Enjoy Lifelong regular income with flexibility of payouts and whole life cover1.
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Whole life cover + Lifelong Income3
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Accumulate survival benefits
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Immediate income option for your various needs
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Savings Plans
HDFC Life Guaranteed Wealth Plus
This plan is suitable for you, if you are looking for long-term guaranteed1 returns to fulfil your dreams while providing financially security to your family.
UIN: 101N165V06
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Pay once or for a limited term, enjoy life insurance cover for full policy term
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Avail guaranteed16 benefit as Lump sum or as Regular Income + Lump sum both
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Guaranteed Income4 for during the payout term + 100% ROP5 at maturity
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Features of Savings Plans
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Policy Tenure and Entry Age
Savings plans can be purchased at a young age, even for children as young as 90 days old. You can choose a policy term based on your specific needs, with options for both long-term and short-term savings.
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Guaranteed Returns
Savings plans offer low-risk investment opportunities that provide steady returns over time. These plans ensure a good maturity benefit and consistent returns, enabling you to make wise financial decisions in the future.
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Riders and Life Cover
When you purchase a savings plan, you also get life insurance coverage. Additionally, you have the option to enhance protection through riders. For instance, an accidental disability rider can offer additional financial security for you and your family. There are also riders available that provide a payout in case of critical illness diagnosis during the policy term.
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Tax Benefits
Savings plans offer tax benefits on premiums and benefits under sections 80C and 10(10D) of the Income Tax Act, making them a smart way to save for the future.
Frequently Asked Questions
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Savings plans are life insurance products that offer the dual benefit of insurance coverage and savings. These plans require regular premium payments for a predetermined term or until maturity. The plans provide a guaranteed sum assured plus a bonus and can help individuals build wealth over time while also securing their financial future.
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InCred Wealth in partnership with HDFC Life offers various savings plans, including endowment plans, money-back plans, guaranteed savings plans, child plans, and retirement plans. These plans cater to different financial goals, including long-term saving, wealth creation, and retirement planning.
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The amount of investment in a savings plan depends on your financial goals, risk appetite, and income level. InCred Wealth offers a range of savings plans with flexible premium payment options that enable individuals to choose a premium amount that suits their budget and financial requirements.
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InCred Wealth website offers the facility to purchase HDFC Life Savings plans through our platform. Customers can enter their details on our website, and our Relationship Manager will reach out to them to complete the purchase process.
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- 1. Provided all due premiums have been paid and the policy is in force.
- 2. Lump sum benefit is available under Guaranteed Maturity option. Regular Income is available under Guaranteed Income, Long Term Income and Life Long Income options.
- 3. Applicable on choosing a policy term as (100 - age at entry) years.
- 4. This applies to Income Variant, whereby guaranteed income is paid on survival of Life Assured during the policy term, provided all due premiums are paid during the premium payment term
- 5. ROP – Return of Premiums. This applies to Income variant, whereby all base premiums are returned to policyholder on survival of Life Assured at maturity, provided all due premiums are paid during the premium payment term.
- 6. This feature is available in select products under the savings category. Please read the product brochure of your selected product to know the details.
- 7. The Guaranteed Additions will accrue at the rate of 3% p.a. of Sum Assured on maturity during the first 5 policy years and are payable at maturity or death, whichever is earlier.
- 8. Premium amount excludes any underwriting extra premiums, any loading for modal premium and taxes and levies as applicable.
- 9. Please refer Auto Cover Continuance section in the brochure.
- 10. Total Premiums Paid is the total of all the premiums received, excluding any extra premium, any rider premium and taxes.
- 11. As per Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.
- 12. Subject to conditions specified u/s 80C of the Income tax Act, 1961.
- 13. Subject to conditions specified u/s 10(10D) of the Income tax Act, 1961.
- 14. This is applicable for first year premium only for premium paying term (PPT) of 12 & 15.
- 15. Guaranteed Income Benefit (GIB) is paid on survival during the income payout term, provided all due premiums are paid during the premium payment term. The last installment of GIB is paid as part of maturity benefit and other installments are paid as part of survival benefits during the policy term
- 16. Quantum of benefits is guaranteed irrespective of the experience.
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17. Save 46,800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are a Regular Individual, Fall under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime.
# The afore stated views are based on the current Income-tax law. Also, the customer is requested to seek tax advice from his Chartered Accountant or personal tax advisor with respect to his personal tax liabilities under the Income-tax law.
- 18. 1 to 10% Simple Interest per annum, depending upon the increasing income percentage chosen. Applicable for Early income and income structure
