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RESUME APPLICATION PAY PREMIUM

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Why choose HDFC Life Sanchay Fixed Maturity Plan?

A Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan that ensures you and your loved ones are financially protected.

Why choose HDFC Life Sanchay Fixed Maturity Plan?

  • Single/ Joint Life Cover - Option to choose cover on Single Life or Joint Life basis

  • Guaranteed1 Savings – Stay assured of the returns

  • Flexibility of Premiums –Option of single premium/limited pay/regular pay premium payment option

  • Choice of Policy Terms – Option to choose from a range of Policy Terms upto 40 years

  • No medical examinations– Under the POS variant of the product

  • Enhanced benefit– Enhanced maturity benefit for higher premiums

  • Optional Riders – Enhance your protection coverage with rider options on payment of additional premium

  • Single/ Joint Life Cover - Option to choose cover on Single Life or Joint Life basis

  • Guaranteed1 Savings – Stay assured of the returns

  • Flexibility of Premiums –Option of single premium/limited pay/regular pay premium payment option

  • Choice of Policy Terms – Option to choose from a range of Policy Terms upto 40 years

  • No medical examinations– Under the POS variant of the product

  • Enhanced benefit– Enhanced maturity benefit for higher premiums

  • Optional Riders – Enhance your protection coverage with rider options on payment of additional premium

Why choose HDFC Life Sanchay Fixed Maturity Plan?
  1. Guaranteed benefits shall be payable provided all due premiums have been paid and the policy is in force.
  1. Guaranteed benefits shall be payable provided all due premiums have been paid and the policy is in force.

We guarantee you these Benefits

When you make the right choices with your insurance plan

Know the key benefits before buying your plan

  • Maturity Benefit
  • Death Benefit Multiple
  • Death Bene­fit

Maturity Benefit

(Guranteed Maturity benefit)

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Maturity Benefit

  • This plan offers a guaranteed maturity benefit payable as a lump sum at the end of policy. The maturity benefit is equal to Sum Assured on Maturity. Where, Sum Assured on Maturity is equal to (Annualized Premium or Single Premium) x Guaranteed Maturity Multiple (GMM). The GMM varies by age and premium payment term.

  • Once Maturity Benefit is paid, the policy terminates and no further benefits are payable.

Calculate Premium Talk to an Advisor

Checkout our Eligibility Criteria

Before buying HDFC Life Sanchay Fixed Maturity Plan

ELIGIBILITY CRITERIA

Eligibility Criteria

Minimum

Maximum

Single Life

Joint Life

Single Life

Joint Life2

Age at Entry

90 days

90 days1

Single Premium

Single Premium:
60 years

 

Death Benefit Multiple (DBM)
1.25-1.5

70 years

Death Benefit Multiple (DBM)
10

50 years

Regular/Limited Pay:
65 years

Regular/Limited Pay: NA

Age at Maturity

18 years

Single Premium

Single Premium:
80 years

Death Benefit Multiple (DBM)
1.25-1.5

90 years

Death Benefit Multiple (DBM)
10

70 years

Regular/Limited Pay:
85 years

Regular/Limited Pay: NA



Eligibility Criteria

Premium Payment Term
(in years)

Policy Term
(in years)

Premium Payment Term (PPT)
and
Policy Term (PT)

Single Premium

5 to 40 years

5, 6 ,7 ,8 , 10, 12, 15 , 20

PPT to 40 years



Eligibility Criteria

Minimum

Maximum

Premium
(Per Instalment)3

Single Premium: ₹ 10,000

Annual: ₹ 10,000

Half yearly: ₹ 5,100

Quarterly: ₹ 2,600

Monthly: ₹ 875

No maximum limit, subject to Board Approved Underwriting Policy

Sum Assured on Death

Single Premium : ₹ 12,500

Regular/Limited Pay : ₹ 70,000

No maximum limit, subject to Board Approved Underwriting Policy

For Non POS Variant


1. Subject to the other life being at least 18 years

2. Applicable to both the lives

3. Premium amounts are exclusive of taxes and levies as applicable


All ages mentioned above are age last birthday. Risk cover starts from date of commencement of policy for all lives including minors. In case of a minor life, the policy will vest on the Life Assured on attainment of age 18 years. Also, in case of minor life, the relationship between the proposer and life assured shall be specified and the cover shall be granted to the extent of insurable interest only. If the life assured(s) is major, the policyholder(s) and the life assured(s) shall be the same person/people.

Get to know Savings plans better!

Tune in to this video to know about our Savings Plans.


Riders are must have additions to your savings plan

Riders in insurance have an important part in contingency planning. Top up your Savings Plan with them.
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    HDFC Life Income Benefit on Accidental Disability Rider- Non Linked

    UIN: 101B041V01

    Get additional income benefits over and above your Sum Assured in the event of total permanent disability due to an accident.

    DOWNLOAD BROCHURE
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    HDFC Life Protect Plus Rider – Non Linked

    UIN: 101B040V01

    Get protected with a proportion of Rider Sum Assured in case of accidental death or partial/total disability due to accident or diagnosed with Cancer.

    DOWNLOAD BROCHURE
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    HDFC Life Waiver of Premium Rider – Non Linked

    UIN: 101B032V02

    Get Waiver of Premium for the base policy premium and premiums of any other additional riders, in case of death, disability or diagnosis of any listed critical illnesses of the Rider Life Assured. Enjoy continued policy benefits even in case of life's eventualities.

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Frequently Asked Questions

1 Why Should One Invest in the HDFC Life Sanchay Fixed Maturity Plan?

Assured Returns – The plan offers assured returns on maturity

Frequency of Premium Payments- Another feature that makes this plan a good option to invest in is flexibility to choose the type of premium payment options.

Tenure – This plan offers a wide range of policy term of upto 40 years.

Joint Life cover- Another factor that makes this plan attractive is the option of joint life cover.

Tax- Tax benefits shall be available as per applicable tax laws

2 What are the benefits of investing in HDFC Life Sanchay Fixed Maturity Plan?

MATURITY BENEFIT –
 

  • This plan offers a guaranteed maturity benefit payable as a lump sum at the end of policy. The maturity benefit is equal to Sum Assured on Maturity.
    Where, Sum Assured on Maturity is equal to (Annualized Premium or Single Premium) x Guaranteed Maturity Multiple (GMM). The GMM varies by age and premium payment term.

  • Once Maturity Benefit is paid, the policy terminates and no further benefits are payable.

DEATH BENEFIT MULTIPLE –

  • Under the Single Premium variant of this product, the policyholder can choose the Death Benefit Multiple (DBM) in any one of the following two ways:

S.No.

DBM under Single Life

DBM under Joint Life

1

1.25-1.5x depending on the age of life(s) assured

2

10x

10-15x depending on the age of lives assured

  • Death benefit multiple for Single Premium varies by age as specified in the brochure.

  • The DBM for Single Pay has to be chosen at the outset of the contract and can’t be changed later during the policy tenure. The DBM will be multiplied to the Single Premium.

  • For Regular/Limited pay variant, the DBM will be fixed at 10 which will be multiplied to the Annual Premium.


DEATH BENEFIT - 

Single Life Coverage

1) In case of death of Life/Lives Assured during the policy term, the following death benefit shall be payable. The death benefit payable to the nominee under a Single Life policy shall be highest of the following:

  • Sum Assured on Death

  • Death Benefit Multiple (as chosen by the policyholder)times Single Premium (plus any underwriting extra premium) for a Single Pay policy OR 10 times Annual Premiumfor a Regular/Limited Pay policy

  • 105% of Total Premiums Paid till the date of death

  • Surrender value applicable as on the date of death

2) Upon the payment of the death benefit, the policy terminates and no further benefits are payable.


Joint Life Coverage


1) In case of death of Life/Lives Assured during the policy term, the following death benefit shall be payable:

First death: The death benefit payable on first death of any of the lives assured shall be the higher of

  • Sum Assured on Death

  • 105% of Total Premiums paid till the date of death

Upon the payment of this benefit on first death, the policy continues for the surviving life assured.


Second death: The death benefit payable on the second death shall be highest of the following:

  • Sum Assured on Death

  • Death Benefit Multiple (as chosen by the policyholder) times Single Premium (plus any underwriting extra premium)

  • 105% of Total Premiums paid till the date of death

  • Surrender value applicable as on the date of death


Simultaneous death of both lives:

  • In case of simultaneous death of both the lives, the death benefit as mentioned above for first and second death shall be payable.

  • The death benefit for the elder life shall be paid in accordance with the death benefit under ‘First death’ above and the death benefit for younger life shall be paid in accordance with the death benefit under ‘Second death’ above.

2) Upon the payment of this benefit on the second death, the policy terminates and no further benefits are payable.

3 Who Should Invest in a HDFC Life Sanchay Fixed Maturity Plan?

A fixed maturity plan is best suited for people who want to get assured returns at maturity. This plan can be used for various life stage needs such as child’s education, marriage, retirement corpus as well as financially securing loved ones.

4 What is the premium payment frequency under HDFC Life Sanchay Fixed Maturity Plan?

HDFC Life Sanchay Fixed Maturity Plan scheme comes with a variety of premium frequency options. You can choose to opt for premium payment frequency as single, annual, half - yearly, quarterly, and monthly.

5 What is the grace period for payment of premiums under this plan?

Grace period is not applicable for Single Premium. For Regular/ Limited Premium payment term you get a grace period of 15 days for monthly frequency of premium payment and 30 days for other frequencies to pay the premium

6 Can I surrender the policy in case of emergencies?

While it is advisable to continue the policy to enjoy the maximum benefit offered under this plan, we understand that certain circumstances may arise that you may want to Surrender your policy. Surrender is allowed under the plan. A policy shall acquire a Surrender Value immediately on the payment of Single Premium and on payment of at least first year's premium in case of a Regular/ Limited Pay policy. For more details, please refer the product brochure.

 

7 Will I be eligible for tax benefits under this plan?

Yes, you can avail Tax Benefits as per prevailing tax laws. You are requested to consult your tax advisor.

8 Can I change my policy term and premium payment term?

No, policy term and premium payment term chosen at inception shall remain the same for the duration of your policy.

9 Can I change my premium payment frequency during the policy term?

Yes, Change of Premium Payment Frequency is allowed. Premium payment frequency available under the plan are Yearly, Half Yearly, Quarterly and Monthly.

10 Can I avail a loan against my policy?

Yes, Policy loans will be available during the policy term subject to such terms and conditions specified by HDFC Life. For more detail, please refer the product brochure.

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Disclaimer

For all details on Riders, kindly refer to the Rider Brochures.

T&C*

  1. Guaranteed benefits shall be payable provided all due premiums have been paid and the policy is in force.

ARN : PP/09/24/15745