HDFC Life Sanchay Par Advantage

The premiums can be paid annually, half-yearly, quarterly and monthly.

The Survival Benefit can be paid out on an annual, half-yearly, quarterly or monthly basis.

The policyholder would be eligible to receive Cash Bonus (if declared) at the end of each Policy Year and payable from the 1st policy year until death or end of policy term, whichever is earlier.

Cash Bonus payable = Cash Bonus Rate x Annualized Premium¹

Please refer Product Brochure for details on Cash Bonus Rate.

1. Annualized Premium is the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

The policyholder will start receiving Guaranteed Income plus discretionary Cash Bonuses (if declared) in arrears one year after the end of Premium Payment Term.

Cash Bonus payable = Cash Bonus Rate x Annualized Premium

Guaranteed Income is expressed as Guaranteed Income Rate x Annualized Premium

Guaranteed Income Rate will be known to you at inception. Guaranteed Income would be payable for 25 years or Policy Term minus (Premium Payment Term + 1) years, whichever is lower, subject to your survival during this period.

Please refer Product Brochure for details on Guaranteed Income Rate and Cash Bonus Rate.

Yes, the Survival Benefit payouts can be deferred. The accrued Survival Benefit payouts will be accumulated monthly at a Reverse Repo rate and this rate will be reviewed at the beginning of every month.

Yes, the accrued Survival Benefit can be withdrawn partly/ fully at any point during the Policy Term.

The option to defer Survival Benefit payouts can be chosen any number of times.

The maturity benefit is equal to Sum Assured on Maturity plus accrued Cash Bonuses (if not paid earlier), plus interim Survival Benefit (if any), plus Terminal Bonus (if declared).

Where, Sum Assured on Maturity is total Annualized Premium payable under the policy during the premium payment term.

Please refer Product Brochure for details on Cash Bonus & Interim Survival Benefit.

The maturity benefit is equal to Sum Assured on Maturity plus accrued Guaranteed Income and Cash Bonuses (if not paid earlier), plus interim Survival Benefit (if any), plus Terminal Bonus (if declared).

Where, Sum Assured on Maturity is total Annualized Premium payable under the policy during the premium payment term.

Please refer Product Brochure for details on Cash Bonus & Interim Survival Benefit.

In case of death of Life Assured during the policy term, the death benefit shall be equal to Sum Assured on Death plus Accrued Cash Bonuses (if not paid earlier), plus Interim Survival Benefit (if any), plus Terminal Bonus (if declared).

The minimum Death Benefit shall be 105% of Total Premiums Paid² as on date of death.

Sum Assured on Death is the highest of:

• 10 times the Annualized Premium, or

• Sum Assured on Maturity, or

• Death Multiple x Annualized Premium

For details on Death Multiple, please refer Product Brochure.

² Total Premiums Paid is the total of all the premiums received, excluding any extra premium, any rider premium and taxes.

Upon the payment of the death benefit, the policy terminates and no further benefits are payable.

In case of death of Life Assured during the policy term, the death benefit shall be equal to Sum Assured on Death plus Accrued Cash Bonuses and Guaranteed Income (if not paid earlier), plus Interim Survival Benefit (if any), plus Terminal Bonus (if declared).

The minimum Death Benefit shall be 105% of Total Premiums Paid as on date of death.

Sum Assured on Death is the highest of:

• 10 times the Annualized Premium, or

• Sum Assured on Maturity, or

• Death Multiple x Annualized Premium

For details on Death Multiple, please refer Product Brochure.

Upon the payment of the death benefit, the policy terminates and no further benefits are payable.

Yes, we also offer additional benefits for the policies with Annual Premium more than or equal to ₹ 1.0 lakh. This is applicable only for Deferred Income Option. For more details, please refer “Additional Benefit for High Premium Policies” section in the Product brochure.

No, Plan option once chosen at inception cannot be changed throughout the policy term.

The plan can be applied by filing in the Short Medical Questionnaire (SMQ), which may not require you to go for medicals.

The policy will acquire a Guaranteed Surrender Value (GSV) provided at least first 2 years’ premiums have been paid.

The policyholder can avail Loan under the policy provided the policy has acquired a surrender value and subject to terms and conditions as the Company may specify from time to time.

You may be eligible for tax benefits as per prevailing tax laws under Income Tax Act, 1961.

Please note tax benefits are subject to change in tax laws.