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 HDFC Life Sanchay Plus

A savings plan that takes you closer to your dreams and secures your familys future

ARN: ED/09/21/25571


 About
 HDFC LIFE
HDFC Life is one of India's leading life insurance company offering a range of individual and group insurance solutions that meet your various needs such as Protection, Pension, Savings & Investment, Health and more

 Superbrand for the 8th time in a row
 Superbrand 2021-22
 SUM ASSURED

 7.2 lakh crore
New Business
 BRANCHES

 372
Across in India
 ASSETS UNDER MANAGEMENT

 2,04,170 Crs
In FY 21-22
 NUMBER OF LIVES INSURED

 5.4 crore
In FY 21-22
# As per HDFC Life Integrated Annual Report FY 2021 - 2022


 We have honoured 98.66 % Individual claims!*
*Individual death claim settlement ratio by number of policies as per audited annual statistics for FY 2021-22. Check last 5 years claims trend

1 Day Claim Settlement. Know More
 Claim Settlement Ratio
( Percentage and average claim settlement time )
Average Claim settlement time: 3.3 days
Average Claim settlement time: 5 days
Average Claim settlement time: 4 days
Average Claim settlement time: 4 days
Average Claim settlement time: 5 days
![ HDFC Life Claims
content/dam/hdfclifeinsurancecompany/images/home-images/claim-secure.png)
 One Day Claim Settlement

is available for the following
- Cumulative claim amount on all policies up to 2 crores
- 1 day claim settlement is exclusively available for policies bought online
- Claim does not require field investigation
- All requisite documents
#submitted by the nominee before 3 PM on a working day at HDFC Life branches. Intimations beyond 3 PM will be taken up the next business day
- HDFC Life will pay an interest on your death claim amount for every day of delay beyond one working day
**T&C Apply**
1. For all claims fulfilling above mentioned conditions, provided we receive all the required documents, the claim will be processed within one working day and decision will be communicated accordingly

2. Investigation / Open title / Rival / Court involved Claims are excluded

3. Policy duration at the time of event is at least >=3 years

4. Saturday, Sunday, public festivals and non-NAV days (for ULIP) are excluded (not treated as a working day) ^Interest rate would be at 6.25%per annum

Documentation Details**
Claim form, Nominee photograph, Pan card copy, Identity and Address proof of nominee. (If nominee is minor, documents of appointee to be submitted). Death certificate issued by competent authority for death registrations. Medical cause of death certificate. Cancelled cheque/copy with the name of nominee/appointee mentioned on it as per the passbook of the nominee/appointee. Past & current complete medical records including discharge/death summary, indoor case papers, investigation reports, consultation notes. In case of an accidental death, additional documents will be required. Post Mortem Report, Panchnama, Police Inquest report, First/Final Information report, Viscera/Chemical Analysis report

**What is life insurance? **
Life insurance is a contract signed between a person and an insurance company. In exchange for premium paid at regular intervals, the insurance company promises to pay a lump sum known as a death benefit to the beneficiaries of the policyholder after the death of the policyholder. The intention of the life insurance is to provide a financial benefit to the dependents of the person buying the life insurance, to guard them against financial pitfalls in the event of the premature death of the insured person

The death benefit that accrues to the beneficiaries upon the death of the insured person replaces the income that was earned regularly by the policyholder. This amount can be used by the dependents to pay off debts, meet living expenses and fund education and other long-term goals


You can buy different types of life insurance plans, including term insurance, endowment plans, retirement insurance plans and Unit Linked Insurance Plans (ULIPs). You can buy life insurance online as well, in simple steps. Buying life insurance online is a simple way to make sure your loved ones will continue to be financially secure in your absence

Buying life insurance does not just help provide financial support in the event of the insured person's untimely death, but it can also be a sound long term investment by helping you meet your life goals such as children's education, your retirement corpus or buying a second home

## FAQ's about Life Insurance
##
1
**What are the benefits of life insurance
The biggest benefit of life insurance is that no matter your income level, life insurance ensures that your loved ones can make ends meet if you were to pass away

Buying a life insurance policy at any stage in life gives you peace of mind. It offers a life cover that keeps you and your family protected in case of your unfortunate demise. The life insurance claim in the event of your death will help your family have a secure financial future, by paying for children's education, paying off debts and helping towards household expenses. The money you invest in life insurance is safe, and your family stands to gain from the benefits of insurance payouts in case of unforeseen circumstances

Life insurance premiums are eligible for rebate for salaried persons to reduce their tax liability. Life insurance also gives you the benefit of taking a loan against the policy in certain cases. A life insurance policy will help you to plan your life goals, including your children's education, their marriages and your retirement corpus

The riders available with your life insurance policy help you customise your plan and get maximum benefit

There are different types of life insurance which help you reap the benefits of a secure future for yourself and your family

##
2
** Who needs life insurance the most
Anyone who has dependents to support and is an income earner for the household needs Life Insurance. Your loved ones who depend on your income would be negatively impacted by your untimely passing and the subsequent loss of income. A life insurance policy makes sure their financial future is protected through the payouts by the insurer in case of the insured person's death

If you own a business, it helps to have life cover so that the business is not negatively impacted by your passing. It can help to sustain it by covering expenses and paying debts till your successor finds their feet in the business

If you have taken loans during your lifetime, having a life cover will help your family to pay off your debts with the help of the payouts received against the insurance claim

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3
**What are the types of life insurance plans

In India, we have a variety of insurance plans to suit every need

The simplest plans are
Other life insurance plans in India include Endowment Insurance plans, Unit Linked Insurance Plans (ULIPs), Moneyback Insurance plans, Whole life insurance plans, Group life insurance, Child Insurance Plans and Retirement Insurance Plans

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4
**Factors that affect life insurance premium**
The main factor influencing the life insurance premiums of a policyholder is their age. Younger persons are generally considered healthy and unlikely to contract illnesses or pass away suddenly; hence younger people attract lower insurance premiums

Gender is another factor that determines the premium amount as proven scientific and statistical evidence points to women likely to live an average of 5 years more than men. Consequently, since women are perceived to avail of policies for a longer tenure, they can avail of lower premiums

Medical records play a crucial factor in deciding the premium as well, since life insurance policies typically come with an underwriting process that includes a thorough medical exam of the policyholder. Any red flags concerning physical health and potential illnesses can have an impact on the amount of premium to be paid

Family history is important as certain hereditary diseases could be passed on to the policyholder. The family's medical history plays a part in revealing these patterns and can influence the amount of premium

Smoking and drinking, which are considered harmful to health and can impact your longevity, also influence the amount of premium to be paid. Professions and lifestyles can also impact the life insurance premium. Persons working in professions considered dangerous like mining, oil and gas and fisheries, and indulging in risk taking activities like mountaineering can attract higher premiums

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5
**How do I file a life insurance claim
Life insurance claims can be made either on death of the policyholder, on maturity of the policy or as a Rider claim. In case of death claim, the beneficiary who is the nominee of the policy should intimate about the claim to the insurer at the earliest by filling the intimation form which can be obtained from the nearest branch of the insurance company or can be downloaded from the website of the insurance company. Relevant documents like death certificate of the insured person, birth certificate of the insured person (for proof of age), the original policy document, and any other documents requested by the insurer should be provided

The insurer is obliged to settle claims, once filed, within 30 days of receipt of all documents. In case further investigation is needed, the insurer gets six months to complete its procedures from the date of receiving written intimation of the claim

If you are making a maturity claim, the insurer reaches out to the policyholder in advance with a bank discharge form, which the policy holder has to fill in and submit to the insurer along with the relevant documents requested

In the case of rider claims, which are additional benefits accruing to policy holders for paying extra premium, duly filled claim forms and policy copies are to be submitted to the insurer. Different riders like Waiver of Premium and Critical Illness are settled through different means

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6
**What types of death are not covered by life insurance
While deaths due to accidents are covered by life insurance, there are certain exceptions. Accidental death if the insured is involved in any criminal activity or if death occurs due to intoxication or drugs are not covered by term life insurance plans. Accidental deaths while the insured was engaged in adventure sports like sky diving and bungee jumping are also not covered by such plans

Death benefits for suicide are generally made at the discretion of insurance companies. Usually, beneficiaries are entitled to 80 per cent of amount accumulated from premiums paid in case of a non-linked plan, and 100 per cent in the case of a linked plan, if the insured dies by suicide within the initial 12 months

Term insurance plans do not cover death occurring from self-inflicted injuries, or due to illnesses like sexually transmitted diseases like HIV/AIDS

Death due to alcohol or drug abuse is also not covered by term plans, nor is homicide where the policy holder is murdered by the nominee for money. Death due to an existing illness that has not been disclosed at the time of purchasing the plan is also not covered by term life insurance plans. Death caused by natural disasters like tsunami, earthquake, floods etc is not covered by term insurance, unless the policy holder has opted for riders for that purpose

**Learn more about Life Insurance Products **
##
1
**What are the 3 benefits of term insurance
The premiums are reasonable, your family will be financially secure in the event of your death and you may even add coverage for critical illnesses and accidental deaths

##
2
**Is it good to have a term insurance plan
It is possible for a family to achieve their financial goals as well as meet their day-to-day expenses by purchasing a term insurance policy. The dependants of the insured do not suffer financially if a term insurance is in place

##
3
**Is accidental death covered in term insurance

Accidental death is covered by a term insurance policy. The sum assured on a term insurance policy will pay out no matter what the cause of death is, whether it is a result of a health issue or an accident

##
4
**What happens at the end of a term life policy
When term life insurance policy plans expire, the policyholder does not have to take any action. A policyholder will be notified that the policy is no longer in effect; no premiums are payable, and no death benefits would be paid out

##
5
**What are the Death Benefits under Term life Insurance
Death Benefits are paid to your dependents in a lump sum payment if youunexpectedly. But few term insurance policies do provide a monthly income along with a lump sum amount to assist with regular expenses

##
6
**What is Term Insurance Premium
This is the sum of money you pay the insurance company in exchange for financial security. A monthly, semi-annual, or annual premium payment can be made


 Here's all you should know about life insurance

We help you to make informed insurance decisions for a lifetime

- ULIP
- Retirement
- Child
##
1
**Is ULIP tax-free
Section 80C provides an income-tax deduction for ULIPs, and Section 10(10D) of the Income Tax Act exempts returns from income tax upon maturity. This policy offers a dual benefit

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2
**How much return does ULIP give
If you invest in a ULIP for at least 10 years, you can expect a return of 10-12% per year

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3
**Who should invest in ULIP
ULIPs are best suited for people who have a long-term financial plan that includes both wealth creation and insurance

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4
** What are the common features of ULIPs
ULIPs share four common features:
Option for Partial Withdrawal
Option for switching funds
Lock-in period required
An alternative long-term investment
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5
**What are the different types of ULIPs
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Medium
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Low to medium
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Equity funds
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High
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High
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Cash funds
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Low
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Low
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Balanced
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High
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**How is ULIP different from traditional plans
ULIPs have a minimum lock-in period of three to five years, whereas traditional insurance plans are locked in until maturity. In addition, when you only want to insure, you must choose a traditional insurance plan. However, with a ULIP, you can get insurance while also increasing your capital

##
1
**Why is a retirement plan important
Retirement planning not only ensures an additional source of income, but also assists in dealing with medical emergencies, fulfilling life goals, and becoming financially independent

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2
**When should I buy a retirement plan
The answer is simple: as soon as possible. Your twenties are a good time to start saving when you complete your education, start working and earn a pay check. This gives your money more time to

##
3
**What is annuity

An annuity is a contract you enter into with an insurance company in which you pay a lump sum or series of payments in exchange for regular payments. The goal is to have a constant source of income, typically during retirement

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4
**What are the types of Pension Plans
Pension plans can be classified into three types: Defined contribution pensions, Defined benefit pensions, or State pensions

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5
**How is a Pension Plan different from a Term Plan
Life insurance that provides financial security to your family in your absence is termed term insurance. A pension plan, on the other hand, can replace lost income after 60 or if you retire early

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6
**What are the tax benefits of Pension Plans
The Income Tax Act, Section 80CCC
#, encourages people to invest in pension plans. Pension investments can then be deducted from gross income, and saving taxes

##
1
**How much life insurance do you need for a child
A good life insurance policy should enable parents to build a solid financial corpus that will help secure their child's financial future, such as their child's education, marriage, goals, and so on, in instalments or all at once, as needed

##
2
**What is the minimum age for life insurance
The age range for policyholders to purchase term insurance is 18 to 65. Life cover up to age 99 is also available for those 65 and older

##
3
**Is it good to invest in a child plan
It is good to invest in a child plan as it helps you to meet your childrens goals of higher education by building up a corpus over the years. A plan that matures after a certain period helps children meet their life goals without any worries. A child plan also serves as a blanket that provides financial protection to children in the event of the parents death

##
4
**What are the types of child plans
A child plan is a customised investment and insurance option designed to meet a child's financial needs. A child plan has two components: insurance to provide financial protection for the child in the event of the parent's death and investment to meet financial milestones by investing in various instruments

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5
**Why is beneficiary or nominee important in a child plan
If a policyholder dies while the policy is in effect, the nominee will be entitled to death benefits. These death benefits can be used to cover the expenses of the child or nominee in the absence of the parent

##
6
**How can a child insurance policy secure your kids future
A child insurance plan not only protects your child's dreams but also provides you with the financial assistance you need to help them achieve their goals. It's a way to save money for your children's future education costs without having to financially burden yourself

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**T&C
- Provided all due premiums have been paid and the policy is in force

- This option is available for entry ages 50 to 60 years

#. The customer is requested to seek tax advice from his Chartered Accountant or personal tax advisor with respect to his personal tax liabilities under the Income-tax law

 Total Premiums Paid are the total of all the premiums received, excluding any extra premium, any rider premium and taxes. In case ROP option has been selected, Total Premiums Paid includes premium paid for base plan option and the additional premium paid for ROP option. This benefit is available under Life and Life Plus option only

*. For more details on other plans, please visit product category page on the website:- www.hdfclife.com
ARN: ED/09/22/28817