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Investment Plans 1985 views April 15, 2020
A content life is one in which you have achieved all the planned and important milestones of life, like child education, marriage, the financial security of a family in your absence, vacation, etc. These milestones are a few of the many important ones that you want to achieve in your life. However, life is uncertain, unplanned or unexpected roadblocks can create hindrance in your and your family’s happiness. Buying HDFC Life Sampoorn Samridhi Plus Plan is your best option to be prepared for the future and fulfil family’s dreams by securing them financially. HDFC Life Sampoorn Samridhi Plus plan is a whole life insurance plan that offers lifetime life coverage. With this plan, you can create long-term savings that can be utilized to secure the future of your loved ones in your absence. With HDFC Life Sampoorn Samridhi Plus plan, the policyholder receives double benefit i.e. they can receive the lump sum benefit at the end of policy term along with life coverage.
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Features of HDFC Life Sampoorn Samridhi Plus Plan:
HDFC Life Sampoorn Samridhi Plus is a plan for the entire family. The plan is designed to secure the financial needs arising in the later stage of life. The plan offers life insurance coverage with an option to extend the life coverage up to 100 years of age. The plan offers many unique features that make the HDFC Life Sampoorn Samriddhi Plus special. The unique features of the plan are as under:
- The plan offers the feature of limited premium endowment plan with an option to extend the life coverage to whole life i.e. up to 100 years
- The plan offers the option of limited premium payment term equivalent to the policy term minus 5 years
- The policyholder can choose the policy tenure anywhere between 15 and 40 years
- The plan offers guaranteed additions up to 5% per annum of Maturity Sum Assured up to 5 policy years
- The plan offers an additional sum assured in the event of accidental death of the policyholder during the policy term
- The policyholder has the flexibility to choose the premium payment frequency as per their convenience
- A Tax benefit is available as per the Income Tax Act, 1961
- Additional protection can be availed with the help of the rider facility.
Eligibility Criteria of HDFC Life Sampoorn Samridhi Plus Plan:
| Particulars | Eligibility criteria |
|---|---|
| Age at Entry | Minimum 30 days Maximum 60 Years |
| Age at Maturity | Minimum 18 Years Maximum 75 Years |
| Policy Term | Minimum 15 Years Maximum 40 Years |
| Premium Paying Term | Yearly, Half Yearly, Quarterly, Monthly |
| Sample Premium Amount | Yearly: Rs 12000 Half Yearly: Rs 6000 Quarterly: Rs 3000 Monthly: Rs 1000 Maximum Premium Amount: No Limit; Subject to underwriting conditions |
| Sum Assured | Minimum Rs 65643 |
| Guaranteed Addition | 3% per annum for policy term equivalent to 15 to 19 years 4% per annum for policy term equivalent to 20 to 24 years 5% per annum for policy term equivalent to 25 years or more |
| High Sum Assured Rebate | Rs 4.5 per 1000 Sum Assured on Maturity amount between Rs 1.50 Lakhs to Rs 3.00 Lakhs Rs 6 per 1000 Sum Assured on Maturity amount between Rs 3.00 Lakhs to Rs 5.00 Lakhs Rs 4.5 per 1000 Sum Assured on Maturity amount of Rs 5.00 Lakhs or more |
Benefits of HDFC Life Sampoorn Samridhi Plus Plan
Sampoorn Samridhi Plus Plan is one of the most preferred life insurance product as it offers a wide range of benefits to the policyholders. The benefits available under the plan are listed under:
Plan Option:
The policyholder can choose any one amongst the two variants available under the plan. the two plan options are:
- Endowment Plan Option: Under this option, lump-sum amount i.e. benefit is payable at the end of the policy tenure
- Endowment with Whole Life option: Under this option, the lump sum amount is payable at the end of the policy tenure. An additional sum assured is received at the time of policy maturity that is payable in the event of survival till the age of 100 years or death, whichever is earlier
Maturity Benefit:
Maturity Benefit differs as per the plan option. The maturity benefit received is as under:
- Under endowment plan option, the maturity benefit is equivalent to Sum Assured+ Accrued Guaranteed Additions + Accrued Reversionary Bonuses + Interim Bonus (if any) + Terminal Bonus (if any)
- Under Endowment with Whole Life plan, the maturity benefit received shall be equivalent to Sum Assured+ Accrued Guaranteed Additions + Accrued Reversionary Bonuses + Interim Bonus (if any) + Terminal Bonus (if any) + maturity sum assured in the event of survival of the policyholder till the age of 100 years or in the event of death, whichever is earlier
Death Benefit:
The death benefit is payable in the event of the death of the policyholder. The death benefit received by the nominee is the highest of the following:
- Sum Assured+ Accrued Guaranteed Additions + Accrued Reversionary Bonuses + Interim Bonus (if any) + Terminal Bonus (if any)
- 105% of the total premiums paid (excluding any extra premium, rider premium, and taxes)
Accidental Death Benefit:
In the event of the death due to accident of the policyholder during the policy term, an additional sum equivalent to the sum assured on death benefit is paid provided the age of the life assured is more than 18 years on the date of death.
Free Look Period:
If the policyholder is unhappy or not convinced with the terms and conditions of the policy, he/she can cancel the policy within 15 days from the date of inception of the policy. This 15-day duration is called the Free Look Period.
Loan Facility:
In the case of a financial emergency, the insurance policy offers loan facility
Buying a life insurance plan is the need of the hour as it safeguards you and your family’s future to the fullest. Choosing the HDFC Life Sampoorn Samridhi Plus plan will offer long-term savings option along with life coverage. The HDFC Life Sampoorn Samridhi Plus Plan offers excellent features and benefits to the policyholder and proves to be the best life cover option for people from all walks of life. The policyholder can choose any one plan option as per their financial goals and convenience.