All HDFC Life Sanchay Par Advantage Plan
Table of Contents
HDFC Life Sanchay Par Advantage is a participating insurance plan that provides life cover and option to generate regular income that will help the life assured achieve financial goals at different stages of life, while providing financial security to the life assured family in case of an unfortunate event.
This plan has two variants namely Immediate Income or Deferred Income from which one can choose from according to their requirements. This plan provides survival benefit payout from the date of 1 policy anniversary. This plan also offers maturity benefits.
Key Features of HDFC Life Sanchay Par Advantage
Following are the key features of HDFC Life Sanchay Par Advantage plan:
- Availability of life coverage upto 100 years of age.
- Availability of two plan variants namely Immediate Income and Deferred Income.
- Offers flexibility to choose the survival benefit payout date.
- Offers tax benefits.
Benefits of Purchasing HDFC Life Sanchay Par Advantage
Following are the benefits of purchasing HDFC LIFE Sanchay Par Advantage:
| Benefits | Immediate Income | Deferred Income |
| Death Benefit | In case of unforeseen demise of the life assured during the policy term, the death benefit will be equal to sum assured, cash bonuses (if any), interim survival benefit (if any) and terminal bonuses if declared. | In case of unforeseen demise of the life assured during the policy term, the death benefit will be equal to sum assured, guaranteed income, cash bonuses (if any), interim survival benefit (if any) and terminal bonuses if declared. |
| Maturity Benefit | Maturity benefit consists of sum assured, cash bonuses (if any), interim survival benefit (if any) and terminal bonuses if declared. | Maturity benefit consists of sum assured, guaranteed income, cash bonuses (if any), interim survival benefit (if any) and terminal bonuses if declared. |
| Survival Benefit | Under immediate income option, the life assured would be eligible for cash bonuses (if any) at date of each policy anniversary and will be payable from the first policy anniversary till the end of policy term or demise of the life assured, whichever occurs earlier. | Under the Deferred Income option, the life assured shall receive guaranteed income with cash bonuses (if any), one year after the premium payment term ends. |
Eligibility Criteria for HDFC Life Sanchay Par Advantage
Following is the eligibility criteria for HDFC Life Sanchay Par Advantage plan:
| Parameters | Immediate Income | Deferred Income |
| Minimum Entry Age | 30 days | 30 days |
| Maximum Entry Age | 65 years |
55 years (in case of 8 years of PPT) 60 years (in case of 10/12 years of PPT) |
| Minimum Sum Assured | INR 3 Lakhs | INR 3 Lakhs |
| Maximum Sum Assured | No Limit | No Limit |
| Policy Term | 100 minus Entry Age | 100 minus Entry Age |
| Premium Payment Term | 6,8,10,12 years | 8,10,12 years |
| Maximum Maturity Age | 100 years |
100 years |
Also Read: Are Money Back Plans Worth Investing In?
Eligibility Criteria to Buy Money Back Insurance Plans
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.
