HDFC Life - Guaranteed Savings Plan with sum assured up to Rs. 10 lakh starting from Rs. 430*/month

Key features and benefits of this policy

  • Guaranteed maturity benefits

    Guaranteed maturity benefits

    Know the exact amount you will receive at maturity while buying the policy, provided you pay all the due premiums.

  • Sum assured on maturity or death

    Sum assured on maturity or death

    Get at least 10 times the annualised/single premium as sum assured on death.

  • Flexible premium payment options

    Flexible premium payment options

    Pay the premiums for a period of 5 or 7 years at your preferred frequency (monthly or annually) or just pay once (single pay).

  • No medical examination required to buy

    No medical examination required to buy

    The insured individual does not need to undergo a medical examination for this policy.

  • Option to get a loan against policy

    Option to get a loan against policy

    Avail of a loan up to 80% of the surrender value under this policy, subject to the terms and conditions specified.

Eligibility criteria and documents required

Anyone can apply for HDFC Life Guaranteed Savings Plan as long as you meet these basic criteria mentioned below. If you meet all the eligibility criteria, we will need a set of documents from you to complete your application process.

Eligibility criteria

  • Nationality: Indian
  • Age (Single Pay): 8 years to 45 years
  • Age (Limited Pay): 8 years to 55 years (limited pay)

Documents required

  • Photograph of the proposer
  • Age proof, such as PAN card, passport, voter’s ID, birth certificate.
  • Address proof, such as telephone bill, electricity bill, aadhar card, etc.
  • Identity proof such as aadhar card, passport, PAN card, etc.
  • Income proof such as Form-16, salary slips, employment certificate, etc.

Step-by-step guide to buy the policy

  • Step 1

    Step 1

    Click on ‘Get Quote’ to open our online application form.

  • Step 2

    Step 2

    Enter the required details – amount you want to invest, name, date of birth, and contact number.

  • Step 3

    Step 3

    Choose your preferred plan from the list of products shown by clicking ‘Buy Now’.

  • Step 4

    Step 4

    Our representative will call you back and explain the products available for you to take an informed decision.

Policy details

Here’s a quick look at the policy details of HFDC Life Guaranteed Savings Plan:

Policy details Description
Policy type Individual
Minimum premium (in Rs.) 430*/month
Minimum maturity sum assured (in Rs.) 5,572 for single premium pay option | 30,359 for limited premium pay option
Maximum maturity sum assured (in Rs.) 2,63,435 for single premium pay option | 9,98,769 for limited premium pay option
Maximum sum assured on death (in Rs.) 10 lakh
Premium paying term (minimum) Single pay | Limited pay: 5 years
Premium paying term (maximum) Single pay | Limited pay: 7 years
Policy term Single pay: 10 and 15 years | Limited pay: 10 and 15 years

Key inclusions and exclusions

Here’s a quick look at the inclusions and exclusions under HDFC Life Guaranteed Savings Plan:

  • Key inclusions
  • Key exclusions
Key inclusions Description
Loan against policy Get a loan up to 80% of the surrender value under this policy
Maturity benefits Guaranteed sum assured as a lump sum depending on the premium payment terms and amount
Death coverage Lump sum amount is paid to the nominee in the event of death
Key exclusions Description
Suicide 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 premiums 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
During waiting period of 90 days from the date of inception In case of death due to causes other than accident during the Waiting Period, total premiums paid shall be refunded, except for certain conditions. Please refer to the policy wording for more information

How to raise a claim

Follow these steps to raise claim requests for HDFC Life Guaranteed Savings Plan.

  • Register your claim request

    Step 1 - Register your claim request

    Register the claim request with the insurer through their website, e-mail or by calling their claim assistance contact number.
    1. Contact No.: 1860 267 9999
    2. Email at:

  • Submit the required documents

    Step 2 - Submit the required documents

    Submit the necessary documents along with the duly filled claim form online or to the nearest branch of the insurer.

  • Claim settlement

    Step 3 - Claim settlement

    The claim request will be assessed, and the status will be informed to the claim initiator via e-mail and SMS. It can also be checked online on the insurer’s website.

Documents required for raising a death claim request

Here is the list of documents you need to raise a claim for HDFC Life Guaranteed Savings Plan.

  • Original policy documents
  • Attested copy of death certificate issued by local municipal authority
  • Death claim intimation form
  • NEFT mandate form attested by bank authorities or copy of cancelled cheque or bank account passbook
  • Nominee's photo identity and address proof such as copy of passport, voter identity card, aadhar (UID) card, etc.
  • FIR copy or post-mortem report in case of an accidental/unnatural death

Frequently asked questions

What is the maturity benefit of this policy?

On survival until the end of the Policy Term, provided all due Premium(s) have been paid, you shall receive ‘Sum Assured on Maturity’ as a Lump Sum which is based on the Premium Payment Term, Premium frequency and Premium amount.

What is the death benefit of this policy?

In case of the insured’s death during the policy term, the nominee is entitled to receive the death benefit.
The death benefit is 100% of the total premium(s) paid in case of deaths due to causes other than an accident during the waiting period of 90 days.
For death after the expiry of the waiting period, the sum assured on death will be the highest of the:
1. 10 times the single premium/annualised premium, for single pay/limited pay respectively
2. 105% of total premiums paid
3. Sum assured on maturity
4. Any absolute amount assured to be paid on death, which is equal to the sum assured on maturity

Upon payment of the Death Benefit, the policy shall terminate, and no further benefits shall be payable.

What are non-participating plans?

Under non-participating plans, you don’t share the profits or losses faced by the company during your policy term. Your returns are primarily governed by the investment strategy of the insurer.

Is there any loan facility available under this policy?

Yes. This policy provides a loan facility* once it acquires a surrender value.

*Subject to such terms and conditions as the company may specify from time to time.

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"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 Company Limited, ACKO General Insurance Limited, Niva Bupa Health Insurance Company Limited , Aditya Birla Health Insurance Company Limited and ManipalCigna Health Insurance Company Limited under the IRDAI composite CA 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 an independent due diligence on the suitability, viability of any insurance product. Any decision to purchase 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 insurance coverage under HDFC Life Guaranteed Savings Plan (UIN: 101N131V02). Please refer 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 which are subject to change in future. Pls consult your tax advisor for more details. Visitors are hereby informed that by providing their personal or any information on our website they agree and understand that the information submitted by them may be shared with insurers.

Note – While we have made all efforts and taken utmost care in gathering precise information about the products, features, benefits, etc. However, BFL cannot be held liable for any direct or indirect damage/loss. We request our customers to conduct their research about these products and refer to the respective product’s sales brochures before concluding their sale."