Investment Plans 388 views April 21, 2020

HDFC Life Sampoorn Nivesh Plan

Our goals and targets progress as per our stages of life; our requirements to vary from one life stage to another. Hence, right and timely investments in various capital instruments that provide security and monetary benefits are crucial to realize most of our targets. It is also necessary to actively manage these investments to ensure suitable returns come your way.

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HDFC Life Plans understand the need to build a financial corpus in addition to securing our family members financially. With HDFC Life Sampoorn Nivesh which is a unique insurance-cum-investment plan specifically designed with several fund options to invest in, to optimize your investment, you are assured to varied benefit options and life protection needs.

Features of HDFC Life Sampoorn Nivesh Plan

  1. HDFC Life Sampoorn Nivesh Plan is a Linked Insurance Product. It does not offer any liquidity within the first five years of the contract, referred to as the lock-in period.
  2. During this period the policyholder cannot surrender the policy or withdraw the amount invested in Linked Insurance Product, neither completely nor partially.
  3. Along with the policy is provided flexibility to choose your investment term. It can be between 10 to 25 years. Moreover, the policyholder can customize their premiums payment frequency from the options specified.
  4. The 8 fund options provided are Equity Plus Fund, Blue Chip Fund, Diversified Equity Fund, Opportunities Fund, Balanced Fund, Income Fund, Bond Fund, and Conservative Fund.
  5. Additionally, there is also a choice between 3 benefit options. Pick the one that best suits your financial requirements. Lastly, there is an accidental death benefit provided, and an opportunity to earn loyalty additions to enhance your chosen fund value after 10 years.
  6. There is a reduction in the premium allocation charges if the policyholder invests a higher premium amount.
  7. HDFC Life Sampoorn Nivesh is available with limited underwriting norms with a Short Medical Questionnaire. This is the case of conditions put forth are met otherwise the plan will only be offered through full underwriting.
  8. A Grace Period of 15 days is provided for monthly mode of payment and 30 days for the rest of the modes; this is provided in case of Discontinuance of the plan.
  9. In case the discontinuance occurs before the lock-in period is over certain provisions as mentioned below are applicable:
    • Revive the policy inside of 2 years from the date of discontinuance.
    • Or completely withdraw from the plan without any risk cover. This option will become the default option if the policyholder does not exercise any options given. The risk cover will remain in force until the discontinuance of the policy and so the policy changes will be periodically deducted.
  10. For reviving your discontinued policy, it should be done inside two consecutive years from the date of discontinuance; and this policy will be subject to payment of all due premiums and unpaid premium and the underwriting of the policy.
  11. At the time of revival for a policy discontinued before the completion of the lock-in period, all due premiums unpaid shall be payable without charging interest and the discontinuance charges deducted upon discontinuance will be reversed and the proceeds reallocated. Additional charges such as the policy administration charge and charges for premium allocation will be applicable.
  12. Before the payment of the Surrender Benefit in case, the Life Assured dies then the amount in ‘Discontinued Policy Fund’ will be paid out. And if the policy is surrendered after the lock-in period then the fund value will be paid out.
  13. There are four free partial withdrawals, switches, and premium redirections each policy year. Subsequent partial withdrawals, switches and premium redirections will be charged with Rs. 250 per request for offline modes. And a reduced charge of Rs. 25 if executed from the company’s web portal.
  14. Partial withdrawal charges will be levied on the unit fund at the time of the withdrawal during the contract period. It is to be noted that Partial Withdrawals can only be done by policyholders above the age of 18 years.
  15. In accordance to Income Tax Act, 1961, tax benefits under Section 80C and 10(10D) can be availed to an individual or HUF for premiums paid subject to conditions and limits specified therein or tax exemptions respectively. It is subject to conditions therein.
  16. No loans can be availed on this insurance product.
  17. HDFC Life Sampoorn Nivesh plan excludes accidental death benefits for death directly or indirectly by the following reasons: self-inflicted injuries, suicide with no account to the Life Assured’s mental condition, drug and alcohol abuse, hazardous hobbies and pursuits, war, invasion, criminal nature and intent etc.

Parameters of Eligibility for HDFC Life Sampoorn Nivesh Plan

Eligibility ParametersMinimum Maximum
Premiums Paying Frequency
Monthly- Rs.2,000
Quarterly- Rs.6,000
Half-yearly- Rs.12,000
Annual- Rs.24,000
Single- Rs.24,000
No Limit
Sum Assured Regular & Limited PremiumEntry Age equal to 45 years and aboveHigher of 7 x annualized premium or 0.25 x policy term x annualized premium10 x annualized premium
Entry Age less than 45 yearsHigher of 10 x annualized premium or 0.5 x policy term x annualized premiumHigher of 10 x annualized premium or 0.5 x policy term x annualized premium
Sum Assured Single PremiumEntry Age equal to 45 years and above110% of Single Premium110% of Single Premium
Entry Age less than 45 years125% of Single Premium125% of Single Premium
Policy Term10, 15 to 25 years
Premium Payment TermRegular 10, 15 to 25 years
Limited 5, 7 and 10 years
SingleOne-time payment
Premium payment termAnnual modeNon Annual mode
Regular1.2%1.0%
10 years1.2%1.0%
7 years1.2%1.0%
5 years1.8%1.6%
Benefit OptionDeath Benefit Entry Age or Maturity Age MinimumMaximum
5 pay Other than 5 pay
Classic Benefit (Life Option)Fund value or the Higher of Sum AssuredEntry Age0 years (30 days)54 years 60 years
Maturity Age18 years 64 years 70 years
Classic Benefit (Extra Life Option)In addition to Fund Value and Higher of Sum Assured plus Accidental Death Benefit Entry Age18 years53 years58 years
Maturity Age 28 years63 years68 years
Classic Waiver BenefitSum Assured and Waiver of Amount equal to the modal premiums
Entry Age18 years47 years50 year
Maturity Age28 years57 years60 years
Classic Plus BenefitSum Assured including the Fund ValueEntry Age0 years (30 days)48 years50 years
Maturity Age18 years58 years60 years

Benefits promised with HDFC Life Sampoorn Nivesh Plan

Maturity Benefit

  1. At the end of the chosen policy term, the Maturity Benefit is provided after which all risk cover ceases.
  2. The policyholder can redeem the balance units at then prevailing unit price and take the fund value.
  3. With HDFC Life Sampoorn Nivesh Plan, periodical instalments of the fund value can be taken out at maturity. This will be at the discretion of the company and the policy’s terms and conditions.

Death Benefit

The death benefit is provided in case of the unfortunate demise of the Life Assured; it is provided to the nominee following which the policy terminates. The varied types of death benefit provided are as follows:

Classic Benefit-

Highest of the following is paid in case of Classic Death Benefit:

  1. Sum Assured less all Partial Withdrawals
  2. Fund Value
  3. 105% of the Paid Premiums

The Partial Withdrawals deducted from the Death Benefit shall be

  1. For Death, before 60 years all partial withdrawals made during two years prior to the date of death of the Life Assured
  2. For Death on or after 60 years, all partial withdrawals made after turning 58 years is deducted.

For a Reduced Paid-up Policy the Death Benefit will be highest of:

  1. Paid-up Sum Assured
  2. Fund Value
  3. 105% of the premiums paid

Classic Plus Benefit-

The nominee will be paid the highest of:

  1. Sum Assured and Fund Value
  2. 105% of the Paid Premiums

For a Reduced Paid-up policy, highest of:

  1. Paid-Up Sum Assured and Fund Value
  2. 105% of the Total Premiums Paid

Classic Waiver Benefit-

Death Benefit will be the highest of:

  1. Assured Sum
  2. 105% of the Paid Premiums

In addition, on each future premium due date or dates, an amount equal to the modal premium will be credited to the Policyholder’s Fund Value after deduction of applicable charges.

For a reduced paid-up policy:

  1. Paid-Up Sum Assured
  2. 105% of the Total Premiums Paid

Additionally, on each future premium due date or dates a percentage of the original 7 modal premium will be credited to the policyholder’s Fund Value. The percentage will be the ratio of premiums paid to premiums payable under the policy.

Accidental Death Benefit

  1. This benefit is provided under the Classic Benefit Extra Life Option.
  2. It covers for death due to accident within the policy term, under this benefit an additional benefit equal to the assured sum will be payable along with the standard Death Benefit.
  3. For a Reduced Paid-up policy, this benefit amount shall be equal to the Pais-up Sum Assured in addition to the Death Benefit for a Reduced Paid-up policy.
  4. This benefit will be payable if Life Assured dies within 180 days of the occurrence of the accident.

To secure your financial future and your family’s HDFC Life Sampoorn Nivesh Plan by HDFC Life is designed with 8 fund options to optimize your investment along with varied benefits of a life cover. The charges levied under the policy are done to provide for the cost of benefits and the administration of the policy. These charges are well structured to provide the policyholder with better returns and value for money over the long term.

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