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Investment Plans 3136 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 Plus | HDFC 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:-
| Particulars | HDFC Life Sanchay Plus | HDFC Life Sanchay Par Advantage |
|---|---|---|
| Maturity Benefit | Guaranteed Sum Assured + Accrued Guaranteed Additions | Sum Assured on Maturity + Accrued Cash Bonuses + Interim Survival Benefit + Terminal Bonus |
| Death Benefit | Sum Assured on Death + Accrued Guaranteed Additions | Sum Assured on Death + Accrued Cash Bonuses + Interim Survival Benefit + Terminal Bonus |
| Survival Benefit | - | Get the option of Immediate and Deferred Income |
| Surrender Benefit | Guaranteed 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 Benefit | As per the Income Tax Act, 1961 | As 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.
| Particulars | HDFC Life Sanchay Plus | HDFC Life Sanchay Par Advantage |
|---|---|---|
| Age at Entry | 5-60 years | 0-65 years |
| Age at Maturity | 18-80 years | 100 years |
| Premium Payment Term | 5, 6 and 10 years | Immediate Income - 6 years, 8 years, 10 years, 12 years Deferred Income - 8 years, 10 years, 12 years |
| Policy Term | 10-20 years | 30-40 years |
| Minimum Premium | Annual: INR 30,000 Half Yearly: INR 15,000 Quarterly: INR 7,500 Monthly: INR 2,500 | INR 6,500 |
| Minimum Sum Assured Amount | INR 1,287,500 | INR 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.