All About HDFC Life Sanchay Plan
Published On Nov 10, 2021 10:00 AM By InsuranceDekho
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As you advance through life's stages, you have hopes and ambitions for yourself and your family. You must also manage day-to-day responsibilities such as running the household, paying for health care, and paying for your children's school tuition, among other things. With rising life uncertainties, it's more important than ever to create a source of income to pay these costs, especially after retirement or in the case of early death. A life insurance policy protects you financially in the event of such unanticipated disasters. To help you achieve your goals, we recommend "HDFC Life Sanchay Par Advantage," a life insurance solution that allows you to live a life free of sacrifice while still ensuring your family's future and leaving a legacy for them.
Features of HDFC Life Sanchay
Let's have a look at what HDFC Life Sanchay has to offer.
- Flexibility: The insured under the HDFC Life Sanchay can choose to receive the promised benefit as a periodic income or a lump sum payment.
- Long-term Income Option: This plan includes a long-term income option, which provides guaranteed income for a period of 25 to 30 years.
- Guaranteed Returns: The insured receives guaranteed returns while being protected from market risks with this plan.
- Rider Options: You may expand the HDFC Life Sanchay coverage and pick rider options by paying an extra premium.
HDFC Life Sanchay Policy Benefits
The HDFC Life Sanchay Policy provides the following benefits to its investors:
1. Death Benefit
The nominee receives the whole sum promised, plus 105 percent of the premiums paid, or 10 times the yearly premium and added bonus, in the event of the policyholder's death. The policy expires when the death payment is paid, and there are no more benefits to pay.
2. The Advantages of Maturity
The remaining sum insured of the policy, plus any earned bonus, is paid as a maturity benefit to the policyholder who survives the maturity date of this benefit. The policy will then be terminated, and no further benefits will be paid.
3. Tax Advantages
HDFC Life Sanchay Policy also offers you with a tax benefit in addition to other advantages. You may be qualified for tax benefits under this insurance, depending on the tax regulations.
4. Guaranteed Addition
For each completed plan year during the duration, this insurance delivers guaranteed additions as a percentage of the Sum Assured on Maturity at a fairly straightforward rate. These extras are due upon maturity or death, whichever comes first.
Individuals seeking a savings plan with a life protection might choose the HDFC Life Sanchay plan. The plan's borrowing facility is one of the distinctive aspects that helps it stand out among its counterparts. The plan's versatility in terms of policy terms, which range from 5 to 20 years for Single Pay and 10, 12, and 15 years to 40 years for Limited Pay, makes it a good investment option for a wide range of investors. In order to achieve key life milestones, proper financial preparation is essential. Additional fees and duties are typically associated with these anniversaries. As a result, ensuring appropriate financial stability is crucial in order to achieve one's short- and long-term life goals. The HDFC Life Sanchay Plan is ideal for those who want to benefit from both regular returns and insurance coverage.
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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.