Prepare for the future without curtailing your dreams or ambitions and have a financially stable retirement plans with HDFC Life Sanchay Par Advantage Plan, a non-linked, participating life insurance that helps you deal with all the uncertainties life throws at you. This is the best plan which offers you a whole life cover till the age of 100 years and generates a regular income to achieve your planned goals. It also helps you deal with inflated medical costs which often drains out years of savings.
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|
|Tenure||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 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 6, 8, 10, 12 years
Deferred Income 8, 10, 12 years
|Policy Term (years)||100 minus Age at Entry or fixed policy term in the range of 30-40 years can be chosen|
|Minimum Sum Assured on Maturity||Rs. 3 lakh|
|Maximum Sum Assured on Maturity||No limit, subject to Board Approved Underwriting Policy|
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 a year and provides lump sum at maturity thereby creating a legacy for your loved one.
‘Deferred Income - An option that provides Guaranteed Income for a guarantee period and provides regular income by way of cash bonuses (if declared) throughout the policy term. It helps create a legacy for your loved ones by providing a lump sum at maturity.
The plans are available starting from Rs. 2,188 including all taxes, with maximum coverage subject to Board, Approved Underwriting Policy.’
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 PPT 8 years) 60 years (for PPT 10, 12 years)|
|Age at maturity (years)||100 years (maximum)|
Following are the mandatory documents that will be needed to purchase the policy:
Documents required to process cashless claim:
With HDFC Life Sanchay Par Advantage Plan, you can avail the benefit of cashless treatment with the insurer’s network hospitals anywhere in the country. The procedure to file a claim is as follows:
Documents needed to process reimbursement claim
The major exclusions under this policy are:
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 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, Tata AIG General Insurance Company Limited, Oriental Insurance Company Limited, Max 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 into 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.