Savings Plan through HDFC Life Sanchay Plus :
HDFC Life Sanchay Plus is designed as a savings plan to take care of the employee’s financial goals while protecting the family from any unforeseen loss. Thus, the employee can have the mental peace of saving for retirement and fund his/her life goals, safeguarding the family’s future. Below are the key advantages of this policy.
The death benefit is available in the event of the unfortunate demise of the employee within the policy term, which is the highest of a) 10 times the annual premium. b) 105% of the total premiums paid and c) pre-defined sum assured. This can be availed under options: Guaranteed maturity, Guaranteed Income, Life Long Income and Long Term Income.
Maturity benefit is the guaranteed sum assured on maturity along with accumulated bonus if any.
There’s flexibility to receive the guaranteed maturity benefits as a lump sum or regular income.
The assured income is free from any market volatility.
One can opt for a guaranteed income stream for a fixed period of 25-30 years.
The life-long income feature allows opting for guaranteed income till 99 years of age.
Different riders can be chosen for extra coverage towards accidental death and disability or critical and terminal illness.
A free look period of 15 days is available from the day of issuance of the policy where it can be cancelled free of cost if it doesn’t suit the requirements.
Tax benefits are available under sections 80C and 10(10D) of the Income-tax payment towards premium payments and benefits.
