Established as a joint venture between Housing Development Finance Corporation Ltd. (HDFC) and Standard Life Aberdeen, HDFC Life is a global investment company and one of the leading life insurance providers ,offering individual and group insurance. HDFC Life has about 414 branches and presence in 980+ cities and towns in India. The company has also established a liaison office in Dubai.
HDFC Life Sampoorn Nivesh is a Unit Linked Insurance Product which offers insurance and investment under the same plan with multiple fund options, so as to help you optimize your investment. Under this plan, you have the flexibility to choose your investment term from 10 to 25 years along with the option to customize your premium payment - Single, Regular and Limited.
Note: All information has been sourced from the official website of the company
The key features of this plan are:
The key benefits of this plan are:
The maturity benefit payable will be your fund value. The policyholder can receive the fund value in periodic installments.
Classic Benefit - Under this option, the benefit amount will be the highest of:
Classic Plus Benefit - In case of the Life Assured's unfortunate demise, the company will pay the nominee the higher of the following:
Classic Waiver Benefit - In case of the Life Assured's unfortunate demise, the company will pay to the nominee the higher of the following:
In addition, on each future premium due date(s), an amount equal to the modal premium shall be credited to the Policyholder's Fund Value after deduction of applicable charges.
In case of death due to accident during the term of the policy, an Additional Benefit equal to Sum Assured is paid to the nominee in addition to the Death Benefit payable under the Death Benefit of the plan option.
| Benefit Option | Minimum Age at Entry |
|---|---|
| Classic Benefit (Life Option) | 0 years (30 days) |
| Classic Benefit (Extra Life Option) | 18 years |
| Classic Plus Benefit | 0 years (30 days) |
| Classic Waiver Benefit | 18 years |
| Benefit Option | Maximum Age at Entry | Maximum Age at Entry |
|---|---|---|
| 5 Pay | Other than 5 Pay | |
| Classic Benefit (Life Option | 54 years | 60 years |
| Classic Benefit (Extra Life Option) | 53 years | 58 years |
| Classic Plus Benefit | 48 years | 58 years |
| 47 years | 58 years |
| Benefit Option | Minimum Age at Maturity |
|---|---|
| Classic Benefit (Life Option) | 18 years |
| Classic Benefit (Life Option) | 28 years |
| Classic Plus Benefit | 18 years |
| Classic Waiver Benefit | 28 years |
| Benefit Option | Maximum Age at Maturity | Maximum Age at Maturity |
|---|---|---|
| 5 Pay | Other than 5 Pay | |
| Classic Benefit (Life Option) | 64 years | 70 years |
| Classic Benefit (Extra Life Option) | 63 years | 68 years |
| Classic Plus Benefit | 58 years | 60 years |
| Classic Waiver Benefit | 57 years | 60 years |
| Parameters | Minimum | Maximum | |
|---|---|---|---|
Single: Rs. 24,000 Annual: Rs. 24,000 Half-yearly: Rs. 12,000 Quarterly: Rs. 6,000 Monthly: Rs. 2,000 |
No limit | ||
| Sum Assured Single Premium | Entry Age less than 45 years | 125% of Single Premium | 125% of Single Premium |
| Entry Age equal to 45 years and above | 110% of Single Premium | 110% of Single Premium | |
| Sum Assured | Entry Age less than | Higher of 10 x | Higher of 10 x |
| Regular & Limited Premium | 45 years | annualized premium or 0.5 x policy term x annualized premium | annualized premium or 0.5 x policy term x annualized premium |
| Entry Age equal to 45 years and above | Higher of 7 x annualized premium or 0.25 x policy term x annualized premium | 10 x annualized premium | |
| Policy Term | 10, 15 to 25 years | ||
| Premium Payment Term | Single Limited: 5, 7 and 10 years Regular: 10, 15 to 25 years |
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Loyalty Additions - Loyalty Additions (as a percentage of the average fund value) will be added to the fund value every alternate year, starting from the end of 11th policy year for limited and regular premium payment policies.
Tax Benefit under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
How do I make a claim?
In order to make a claim, visit the official website of HDFC Life at lifeeasy.hdfclife.com/claims/submit. Submit the policy number, DOB and registered mobile number. Next, submit the life assured and nominee’s details. Post submission, an executive will call back and handle all the documentation and details. You can also visit the branch or email HDFC Life at contact.hdfclife@paramounttpa.com.
What if I am not satisfied with the terms and conditions of the HDFC Life Sampoorn Nivesh plan?
If you are not satisfied with the terms and conditions of the HDFC Life Sampoorn Nivesh plan, you can simply return the plan to the insurer within the Free-Look period. This plan has a Free-look period of 15 days from the date of receipt of the policy and 30 days for policy purchased through distance marketing.
Can I avail a loan against the HDFC Life Sampoorn Nivesh plan?
No, this plan does not a loan facility.
Is service tax applicable to the HDFC Life Sampoorn Nivesh plan?
Yes, GST is applicable on premiums paid for HDFC Life Sampoorn Nivesh Plan.
What is the charge for partial withdrawal?
There are 4 free partial withdrawals in each policy year. Subsequent partial withdrawals, if any, will attract a charge of Rs. 250 per request or a reduced charge of Rs. 25 per request, if executed.
What is the charge associated with a switch?
There are 4 free switches in each policy year. Subsequent switches, if any, will attract a charge of Rs. 250 per request or a reduced charge of Rs. 25 per request if executed through the company's web portal.
What is the charge for a premium redirection?
There are 4 free premium redirections in each policy year. Subsequent switches, if any, will attract a charge of Rs. 250 per request or a reduced charge of Rs. 25 per request, if executed through the company's web portal.
Are there any miscellaneous charges to be aware of?
Any policy alteration request initiated by the policyholder will attract a charge of Rs. 250 per request.
Is there a charge for amounts in the Discontinued Policy Fund?
This charge depends on year of discontinuance and your annualised premium for limited and regular premium policies. There is no charge from the 5th policy year.
