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HDFC Life Sanchay Par Advantage Plan

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 non-linked, participating life insurance that helps you deal with all the uncertainties that may occur during a lifetime. 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 drainout years of savings.

Key features and benefits

  • Life cover

    The plan provides life cover to the insured person till 100 years of age.

  • Flexibility

    This plan enables the insured person to choose from two options: income or deferred income.

  • Rider benefit

    The policyholder can opt for the riders mentioned below 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

  • Free look period

    The policyholder can return the policy within 15 days from the date of receipt of the policyif they are not satisfied with the policy terms and conditions.

  • Tax benefit

    The premium paid towards this policy is exempted under Section 80C of the Income Tax Act, 1961.

Policy details

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 type Individual
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 (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

Plans available

There are two plan variants under this insurance policy:

Immediate income:This provides regular income through cash bonuses (if declared)from the first policy year and provides a lump sum amount at maturity, thereby creating a legacy for your loved ones.

Deferred income: This option provides guaranteed income for a guaranteed period and regular income through cash bonuses (if declared) throughout the policy term. It helps you 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.

Eligibility criteria

The eligibility criteria for the HDFC Life Sanchay Par Advantage Insurance Plan are as follows:

Eligibility criteria
Minimum age at entry (years) 0 years (30 days)
Maximum age at entry (years) Immediate income: 65 years
Deferred income: 55 years for premium paying term (PPT) of 8 years,
and 60 years for premium paying term (PPT) of 10, 12 years
Age at maturity (years) 100 years (maximum)

How to purchase the policy?

Here are the steps to purchase the policy:

  • To apply for HDFC Life Sanchay Par Advantage Insurance, click on the 'Apply Now' button and fill in your basic and health details. The insurer's representative will get in touch with the insured individual to provide further assistance.
  • Ensure that the information given in the form is complete and accurate.
  • The insured may be required to undergo a pre-policy medical examination at one of the insurer's network diagnostic centres.
  • Policy schedule, policy wordings, cashless cards, and health guide will be sent to the insured's mailing address.

List of documents requiredto buy the policy

The following mandatory documents will be needed to purchase the policy:

  • Photograph of the applicant(s)
  • Age proof, such as birth certificate, voter's ID, PAN card, passport, etc.
  • Identity proof, such as passport, Aadhaar card, PAN card, voter's ID, etc.
  • Income proof, such as Form 16, salary slips, employment certificate, etc.
  • Address proof, such as telephone bill, electricity bill, passport, bank statement, voter's ID, etc.
  • Medical tests that the insurer requires you to undergo

How to process the claim?

Here's how you can process the claim:

Cashless claims

The insured can benefit from cashless treatment at any of the insurer's network hospitals across the country.

  • First, search for an HDFC network hospital in the city where you want to get cashless treatment.
  • Intimate the insurer within 48 hours of hospitalisation (in case of emergency hospitalisation) and 3 days before admission (in case of planned hospitalisation).
  • While visiting the hospital, carry the patient's insurance cashless card or the policy details.
  • Show the health insurance cashless card and valid ID proof at the hospital's insurance desk.
  • Fill in the pre-authorisation request form available at the hospital correctly and submit it to the hospital.
  • For quicker action, fill in the request form on the official website and intimate the insurer. Wait for the decision as your request will be reviewed.
  • The insurer may take up to 2 hours after receiving the request and will inform you about the decision via an e-mail and SMS.
  • You can also check the status on claim will be processed per the terms and conditions of the policy after all the formalities are completed.

Reimbursement claims

  • In case of an emergency admission, you need to notify the insurer within 48 hours and pay the charges to the hospital directly unless the insurer has issued a pre-authorisation.
  • Collect and submit the list of the documents mentioned below within 15 days of discharge from the hospital.
  • After reviewing the documents, the insurer will approve or reject the same per the terms and conditions of the policy.
  • The insurer will send the reimbursement amount via NEFT to your registered bank account if the request is approved.
  • If the request is rejected, the same will be communicated to your registered contact phone number and e-mail address.

Collect the relevant original documents mentioned below from the hospital and submit them to the insurer:

  • Claim form duly filled and signed by you/ life insured
  • Hospitalisation discharge card/ summary
  • Hospital invoice(s) (summary and itemised invoices) and corresponding payment receipts
  • Surgical summary (in case the life assured has undergone a surgery)
  • All supporting diagnostic reports and prescriptions
  • All pharmacy receipts and corresponding prescriptions
  • Ambulance invoice, if applicable
  • Self-attested copies of the following documents:
    • Health card or policy document
    • ID proof (PAN card, Aadhar card, passport, driving licence, voter's ID card, bank passbook/ statement)
    • In case of cashless claims, ID proof should contain the photograph of the ID card holder
  • It would be preferable to provide NEFT details and supporting documents (cancelled cheque/ bank passbook/ statement) at the time of claim registration

Major policy exclusions

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.

Note: Refer to the policy brochure to know more about the exclusions.

Claim/ assistance contact details

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


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: 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:

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.

• IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment in premiums. Public receiving such phone calls are requested to lodge a police complaint.

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