HDFC Life Sanchay Par Advantage is an individual, non-linked, participating savings life insurance plan that provides an option to choose life cover for a fixed policy term of 20 to 40 years or for whole of life (till the age 100 years). The plan provides a holistic solution for you to generate a regular income and to build a corpus to achieve the planned goals and secure your loved one’s future, without any compromises.
Key Benefits
Life cover with protection up to as high as age 100 years
Choose between Immediate Income or Deferred Income options as per your needs
Flexibility to accrue the survival benefit payouts
Premium(s) paid by an individual or HUF under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961, subject to the conditions/ limits specified therein. Under Section 10 (10D) of the Income Tax Act, 1961, the benefits received from this policy are exempt from tax, subject to the conditions specified therein.
Please note that the above-mentioned benefits are as per the current tax rules. Your tax benefits may change if the tax rules are changed. You are requested to consult your tax advisor.
To know detailed information related to exclusions, kindly read the Product Brochure.
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This plan can be taken only on a single life basis. The eligibility for this plan is as follows:
|
Eligibility Criteria |
Minimum |
Maximum |
|
Age at Entry (Years) |
01 (30 days) |
• Immediate Income - 50 years (For PPT 5 years) - 65 years (For PPT 6, 7, 8, 9, 10, 12 years) • Deferred Income - 55 years (for PPT 7, 8 years) - 60 years (for PPT 9, 10, 12 years) |
|
Age at Maturity (Years) |
100 years (maximum) |
|
|
Premium Payment Term (Years) |
• Immediate Income - 5,6,7,8,9,10,12 years • Deferred Income - 7,8,9,10,12 years |
|
|
Policy Term (Years) |
100 minus Age at Entry or A fixed policy term in the range of 20-40 years can be chosen |
|
|
Minimum Sum Assured on Maturity |
Rs 3,00,000 |
|
|
Maximum Sum Assured on Maturity |
No limit, subject to Board Approved Underwriting Policy (BAUP) |
|
