Investment Plans 1826 views January 1, 2021

If your search has brought you down to the HDFC Life Sanchay Par Advantage and HDFC Life Sanchay Plus, you should start comparing their features and benefits. As it is the most convenient way to find out which is the most suitable for your needs. You must know that both HDFC Life Sanchay Plus Vs HDFC Life Sanchay Par Advantage are savings insurance plans that aim to provide higher returns at the end of the policy term with a cover during the policy period. So let’s read this page further and compare HDFC Life Sanchay Plus Vs HDFC Life Sanchay Par Advantage plans.

HDFC Life Sanchay PlusHDFC Life Sanchay Par Advantage
Guaranteed Benefit Payouts

Life cover

Steady retirement income with Life Long Income Option

Tax Benefits
Survival Benefit Payouts from the 1st Policy year

Life cover

Tax Benefits

What Do You Need From Insurance? 

The first question is what are you looking for because we have enlisted the features of both HDFC Life Sanchay Plus and HDFC Life Sanchay Par Advantage in the below table. So have a look at them and check whether they meet your requirements or not.

Compare HDFC Life Sanchay Plus Vs HDFC Life Sanchay Par Advantage Benefits

After knowing the key features, have a look at the benefits of both the policies in the table below:-

ParticularsHDFC Life Sanchay PlusHDFC Life Sanchay Par Advantage
Maturity BenefitGuaranteed Sum Assured + Accrued Guaranteed AdditionsSum Assured on Maturity + Accrued Cash Bonuses + Interim Survival Benefit + Terminal Bonus
Death BenefitSum Assured on Death + Accrued Guaranteed AdditionsSum Assured on Death + Accrued Cash Bonuses + Interim Survival Benefit + Terminal Bonus
Survival Benefit-Get the option of Immediate and Deferred Income
Surrender BenefitGuaranteed Surrender Value (GSV) upon the payment of at least the first two years’ premiums.Guaranteed Surrender Value (GSV) upon the payment of at least the first two years’ premiums.
Tax BenefitAs per the Income Tax Act, 1961As per the Income Tax Act, 1961

Eligibility of HDFC Life Sanchay vs HDFC Life Sanchay Par Advantage

You should know whether you are eligible for the chosen life insurance or not because it will be bad for you when your insurance request is rejected. So to take care of that, we have presented the eligibility criteria of both the insurance policies in the table below. Let’s compare HDFC Life Sanchay Plus Vs HDFC Life Sanchay Par Advantage in terms of eligibility.

ParticularsHDFC Life Sanchay PlusHDFC Life Sanchay Par Advantage
Age at Entry5-60 years0-65 years
Age at Maturity18-80 years100 years
Premium Payment Term5, 6 and 10 yearsImmediate Income - 6 years, 8 years, 10 years, 12 years
Deferred Income - 8 years, 10 years, 12 years
Policy Term10-20 years30-40 years
Minimum PremiumAnnual: INR 30,000
Half Yearly: INR 15,000
Quarterly: INR 7,500
Monthly: INR 2,500
INR 6,500
Minimum Sum Assured AmountINR 1,287,500INR 3,00,000

Free Look Period

HDFC Life Insurance provides you a 15-day free look period where you can review the policy terms and conditions. And in case you are not agreeable to any of the policy terms and conditions, you can return the policy stating the reasons for it. The free look period will start from the date of receipt of the policy. If you have purchased the policy through Distance Marketing, the free look will be 30 days. 

On cancellation of policy during the free look period, the company pays a refund on receipt of your letter along with the original policy document. The refund will be arranged as the paid premiums minus the proportionate risk premium for the period on cover, stamp duty and medical examination expenses, if any.

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