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HDFC Life Sanchay Plan

HDFC Life Sanchay is a traditional Savings Plan which provides guaranteed returns on maturity or death. Limited premiums are payable under the plan thus liberating the policyholder from a long premium commitment. Guaranteed Additions are added to the plan which enhances the benefits payable.

Key features of the plan

  • Guaranteed additions are added to the plan if due premiums are paid.
  • HDFC Life Investment plans can be bought by filling up a Short Medical Questionnaire

How does the plan work?

Step 1 – the policyholder chooses the Sum Assured, the plan term, the premium paying term and frequency. Based on the insured’s age and the above factors, the premiums are calculated.

Step 2 – in case of death, the death benefit would be paid which is the Sum Assured and accrued guaranteed additions.

Step 3 – if the insured survives the plan tenure, the maturity benefit is paid which is the Sum Assured on Maturity and accrued guaranteed additions.


Jignesh, aged 40 years, buys the plan for 15 years. The Sum Assured on Maturity he chooses is Rs.2.5 lakhs and he pays premiums for 10 years.

Option 1 – if Jignesh dies during the plan term, higher of the Sum Assured or 10 times the annual premium is paid subject to a minimum of 105% of premiums paid.

Option 2 – when the plan matures, Rs.2.5 lakhs and accrued guaranteed additions are paid. The accrued guaranteed additions would be Rs.3 Lakhs and the total maturity benefit would be Rs.5.5 lakhs.

Plan benefits

  • Death benefit – if the life insured dies during the term of the plan, and all premiums have been paid, the death benefit is paid. The death benefit is higher of the Sum Assured or 10 times the annual premiums paid or 105% of all premiums paid till death. The accrued guaranteed additions are also paid along with the death benefit.
  • Maturity Benefit – when the chosen tenure of the plan comes to an end, and all premiums have been paid, the Sum Assured on Maturity along with accrued guaranteed additions are paid to the policyholder. The maturity benefit depends on the Sum Assured and is as follows:
  • Term Maturity benefit as a % of Sum Assured on Maturity
    15 years 220%
    16 years 228%
    17 years 236%
    18 years 244%
    19 years 252%
    20 years 280%
    21 years 289%
    22 years 298%
    23 years 307%
    24 years 316%
    25 years 325%
  • Guaranteed Additions– if due premiums are paid during the plan term, guaranteed additions are payable for each completed policy year. Guaranteed Additions are expressed as a percentage of the Sum Assured on Maturity. For a policy term of 15-19 years, the guaranteed addition rate is 8% of Sum Assured on Maturity and for a term of 20-25 years the rate if 9%.
  • Premium discounts – discounts are allowed in premium if the policyholder buys the policy online. The rate of discount is 3%.
  • Loan – up to 80% of the acquired Surrender Value can be availed as loan under the policy.


  Minimum Maximum
Age at entry (in completed years) 30 days 45 years
Age at maturity (in completed years) 18 years 70 years
Term of the plan 15 years 25 years
Premium paying options Limited pay
Premium Paying term 5,8,10 years
Premium amount Yearly – Rs.30,000
Half-yearly – Rs.15,000
Quarterly – Rs.7500
Monthly – Rs.2500
No limit
Sum Assured on Maturity Rs.105,673 No limit

What is not covered in the policy?

  • In case of suicide committed within 12 months of inception, 80% of the premiums paid are refunded.
  • If suicide is committed within 12 months of revival, higher of 80% of the premiums paid or the surrender value under the plan is paid.

Premium Illustration

Below are the sample rates of premium payable by a non-tobacco user male for a combination of different ages, term and Sum Assured. The premiums are excluding taxes and are assumed to be paid annually for 5 years.

HDFC Life Sanchay Plan Premium Illustration