RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
  • Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

Rate this Product

Email Icon

What are the unique features offered under HDFC Life Group Traditional Secure Plan:

A Single Premium, Traditional, Non Participating Group Plan

Why HDFC Life Sanchay Legacy?

  • Interest crediting at end of each financial year.

  • Withdrawals from the policy under defined circumstances in a financial year

  • Multi-year guarantee feature which offers returns over a specified period5

  • Assured benefit3 applicable on death and maturity for Superannuation Schemes

  • Interest crediting at end of each financial year.

  • Withdrawals from the policy under defined circumstances in a financial year

  • Multi-year guarantee feature which offers returns over a specified period5

  • Assured benefit3 applicable on death and maturity for Superannuation Schemes

Why HDFC Life Sanchay Legacy?

Benefits under this Plan:

 

  • Death Benefit
  • Benefits on Maturity
  • Benefits on Surrender

Death Benefit

Heart-Icon

Death Benefit

  • For Non Superannuation Schemes –
    A sum of Rs. 10,000 will be paid by the company to the trustees/ beneficiary from the policy account value2 subject to a maximum of 10% of the policy account value2 at the start of the financial year.

  • For Superannuation schemes –
    Benefit is in accordance with scheme rules of the employer payable from the policy account value2 subject to a maximum of 10% of the same at the start of the Financial Year or the assured benefit3.

  • On payment of death benefit, all benefit in respect of the member will cease.

Talk to an Advisor

Check your eligibility

ELIGIBILITY CRITERIA

To join this Plan, the scheme members need to fulfill the following conditions:

Parameters

Minimum

Maximum

Age at Entry

18 years

75 years

Policy Term

1 year

Annually renewable. Policy to continue indefinitely until its surrender, or expiry of membership term of existing members and there are no new members

Premium Payment Term

Single Pay

Maturity

19 years

85 years

Contribution from MPH

1 Crore per tranche4

No Limit

All ages are calculated as at last birthday. Risk cover starts from date of commencement of policy for all lives.
Minimum group size is 10 members and new members can join at any well defined date as per scheme rules.

FAQs

1 Will Individual member level account be maintained by the Insurer?

No Individual member level account will be maintained by the Insurer.

2 What is the minimum group size in this plan?

The minimum group size in this plan is 10.

3 What will be the interest rate credited to each tranche?

The interest rate credited to each tranche4 shall be in accordance with the Board approved policy of the insurer.

4 Will there be a separate Master Policy for Superannuation and Gratuity Schemes?

Yes, there has to be a separate Master Policy for Superannuation and Gratuity Schemes.

5 What will be the amount realized at maturity/vesting?

The maturity/vesting amount shall be equal to the maximum of policy account value2 at the end of the specified period5 or the assured benefit3.

6 In which circumstances can withdrawals from the policy account be permitted?

Withdrawals from the policy account would be permitted in the following circumstances:

  • to meet death claims
  • to meet normal retirement claims
  • to meet other valid benefit payments as per the scheme rules

7 What are the provisions regarding annuitisation of benefits?

The provisions relating to the annuitisation of benefits wherever applicable will be as per scheme rules of the Master Policyholders. Where the group policyholder maintains superannuation funds with more than one insurer, the group policyholder shall have the option to choose the insurer to purchase an annuity.

8 Is there a mortality charge under this plan?

A mortality charge of Re 1 per 1000 of sum assured will be levied only on Non Superannuation Schemes like Gratuity Schemes. There are no Mortality charges for Superannuation schemes.

9 What is the minimum specified period?

The minimum specified period shall be one year.

10 Is grace period applicable in this plan?

This is a single premium policy hence grace period is not applicable.

VIEW MORE
Talk to Advisor

Not sure which insurance to buy?

Talk to an
Advisor right away

Talk to Advisor

We help you to choose best insurance plan based on your needs

Disclaimer

  1. Applicable until surrender, or expiry of membership.
  2. Policy Account Value represents account value of a tranche.
  3. Applicable for a Superannuation tranche in the form of 1% p.a. guaranteed return on the Policy Account Value at the start of the Policy Year.
  4. Tranche is each one of the multiple contributions which the Master Policyholder can choose to contribute at various times. For Superannuation Schemes, in the first financial year of every new tranche, no benefits will be payable from the policy account value of that tranche.
  5. The period for which the declared interest rate is applicable for a given tranche

ARN - PP/10/24/17470