Prepare for the future without curtailing your dreams or ambitions and get financial stability on your retirement with HDFC Life Sanchay Par Advantage Plan. The plan is a non-linked, participating life insurance that helps you deal with all the uncertainties life throws at you. This plan offers whole life cover till the age of 100 years and provides a regular income to achieve your planned goals. It also helps you deal with inflated medical costs which often drains out years of savings.
Here are the key features covered under the HDFC Life Sanchay Par Advantage Plan:
The plan provides life cover to the insured person till 100 years of age.
This plan enables the insured person to choose from two plan options including income or deferred income.
The policyholder can opt for the below-mentioned riders by paying an additional premium. The rider names are as follows:
• HDFC Life Income Benefit On Accidental Disability Rider
• HDFC Life Critical Illness Plus Rider
The policyholder can return the policy within 15 days from the date of receipt of the policy, if they are not satisfied with the policy terms and conditions.
The premium paid towards this policy is exempted under section 80C of the Income Tax Act, 1961.
Here’s a look at the details covered under HDFC Life Sanchay Par Advantage Plan:
|HDFC Life Sanchay Par Advantage Plan|
|Insurer name||HDFC Life Insurance Company Limited|
|Policy term (years)||100 minus age at entry or
a fixed policy term in the range of 30-40 years can be chosen
|Policy renewable||Yes (as per the premium paying term)|
|Sum insured||Minimum: Rs. 3 lakh
Maximum: No limit, subject to Board Approved Underwriting Policy (BAUP)
|Premium payment term (years)||Immediate income for 6, 8, 10, 12 years
Deferred income for 8, 10, 12 years
|Minimum sum assured on maturity||Rs. 3 lakh|
|Maximum sum assured on maturity||No limit, subject to BAUP|
There are two plan variants under this insurance policy:
Immediate income - This provides regular income by way of cash bonuses (if declared), from first policy year and provides a lump sum amount at maturity, thereby creating a legacy for your loved ones.
Deferred Income - An option that provides guaranteed income for a guaranteed period and provides regular income by way of cash bonuses (if declared) throughout the policy term. It helps you to create a legacy for your loved ones by providing a lump sum amount at maturity.
The plans are available starting from Rs. 2,188 including all taxes and offers a high coverage amount, subject to BAUP.
The eligibility criteria for the HDFC Life Sanchay Par Advantage Insurance Plan are as follows:
|Age at entry (years) - minimum||0 years (30 days)|
|Age at entry (years)- maximum||Immediate income: 65 years
Deferred income: 55 years (for premium paying term (PPT) of 8 years)
60 years (for PPT of 10, 12 years)
|Age at maturity (years)||100 years (maximum)|
Here are the steps to purchase the policy:
Here’s the list of mandatory documents required to purchase the policy:
Here’s how you can process the claim:
The insured can avail the benefit of cashless treatment at any of the insurer’s network hospitals across the country. Here are the documents required for processing cashless claims:
Here are the documents needed to process reimbursement claim
You will also need to submit self-attested copies of the following documents:
Here’s one of the major policy exclusions:
In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary of the policyholder shall be entitled to at least 80% of the total premium paid till the date of death or the surrender value available as on the date of death, whichever is higher, provided the policy is in force.
For claim/assistance, you can contact us/insurer through one of the following ways:
BFL Helpline Number: 08698010101
HDFC Life Helpline Number: 1800-266-9777
E-mail : firstname.lastname@example.org
Mailing address: Ground Floor, Bajaj Finserv Corporate Office, Off Pune-Ahmednagar Road, Viman Nagar, Pune – 411014
*For claim related issues please refer to your policy document or Certificate of Insurance (COI).
Bajaj Finance Limited (BFL) is a registered corporate agent of third party insurance products of Bajaj Allianz Life Insurance Company Limited, HDFC Life Insurance Company Limited, Future Generali Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, SBI General Insurance Co. Ltd. , ACKO General Insurance Co. Ltd., Niva Bupa Health Insurance Company Limited, Aditya Birla Health Insurance Company Limited and Manipal Cigna Health Insurance Company Limited under the IRDAI composite registration number CA0101.
Please note that BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely on a voluntary basis after your exercise of independent due diligence on the suitability, viability of any insurance product. Any decision to purchase an insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. This product provides life insurance coverage under the product name HDFC Life Sanchay Par Advantage (UIN: 101N136V01). Please refer to the insurer's website for Policy Wordings. For more details on risk factors, terms and conditions and exclusions please read the product sales brochure carefully before concluding a sale. Tax benefits applicable if any will be as per the prevailing tax laws. Tax laws are subject to change. BFL does not provide tax/investment advisory services. Please consult your advisors before proceeding to purchase an insurance product.
HDFC Life Insurance Company Limited (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101. Registered Office: 13th Floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai - 400 011. Email: email@example.com Tel. No: 1860 267 9999 (Mon-Sat 10 am to 7 pm) Local charges apply. Do NOT prefix any country code. e.g. +91 or 00. Website: www.hdfclife.com
The name/letters ‘HDFC’ in the name/logo of the company belongs to Housing Development Finance Corporation Limited (HDFC Limited) and is used by HDFC Life under an agreement entered with HDFC Limited.
HDFC Life Sanchay Par Advantage (UIN: 101N136V01) is a non-linked participating life insurance plan. For more details on risk factors, associated terms and conditions and exclusions please read the sales brochure carefully before concluding a sale.
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