HDFC Life Sampoorn Nivesh
Product Info
UIN
101L103V01
Status
Active
Launch Date
02/03/2015
Withdrawn Date
Product Overview
HDFC Life Sampoorn Nivesh a unique insurance cum investment plan designed specifically with multiple fund options in order to help the customer to optimize their investment. Further more, it also provides the customer with varied benefit options to meet their protection needs.
Product Description
- Flexibility to choose your investment term from 10 to 25 years.
- Customize your premium payment options – Single, Limited or Regular
- Choice of 3 Benefit Options to suit your financial requirements.
- Loyalty Additions to enhance your fund value after 10 years.
- Reduced premium allocation charge on investing higher premium amount.
COMPARE & BUY SIMILAR PLANS
Unique Features
- Unit linked endowment plan with single, limited and regular premium paying option.
- There are 3 benefit options to choose from viz sum assured and/or fund value and sum assured with accidental rider.
- The plan provides loyalty additions which depends on the premium paying term and premium frequency, the same is calculated as a percentage of the average fund value.
- The policy also gets added with an additional loyalty reward on maturity which is a percentage of the annualised premium.
Eligibility Criteria
| Eligibility Criteria | ||||||
|---|---|---|---|---|---|---|
| Entry Age | ||||||
| Benefit Options | Minimum | Maximum | ||||
| 5 pay | Other Than 5 pay | |||||
| Classic Benefit (Life Option) | 0 years (30 days) | 54 years | 60 years | |||
| Classic Benefit (Extra Life Option) | 18 years | 53 years | 58 years | |||
| Classic Plus Benefit | 0 years (30 days) | 48 years | 50 years | |||
| Classic Waiver Benefit | 18 years | 47 years | 50 years | |||
| Notes: For non-annual modes the applicable maximum entry age limit shall be less than 2 years of the corresponding age limits for annual mode as mentioned above |
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| Age of Maturity | ||||||
| Benefit Options | Minimum | Maximum | ||||
| 5 pay | Other Than 5 pay | |||||
| Classic Benefit (Life Option) | 18 years | 64 years | 70 years | |||
| Classic Benefit (Extra Life Option) | 28 years | 63 years | 68 years | |||
| Classic Plus Benefit | 18 years | 58 years | 60 years | |||
| Classic Waiver Benefit | 28 years | 57 years | 60 years | |||
| Notes: For non-annual modes the applicable maximum entry age limit shall be less than 2 years of the corresponding age limits for annual mode as mentioned above |
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| Premium payment term | Premium Payment Frequency | |||||
| Annual mode | Non Annual mode | |||||
| 5 years | 1.8% | 1.6% | ||||
| 7 years | 1.20% | 1.0% | ||||
| 10 years | 1.2% | 1.0% | ||||
| Regular | 1.2% | 1.0% | ||||
| Parameters | Minimum | Maximum | ||||
| Premiums | 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 |
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| Entry Age equal to 45 years and above | 110% of Single Premium |
110% of Single Premium |
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| Sum Assured – Regular & Limited Premium |
Entry Age less than 45 years | Higher of 10 x annualized premium or 0.5 x policy term x annualized premium | Higher of 10 x 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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OneInsure App Benefits
Store Digitally | Get Premium Reminders | Service and Claim assistances | Empower Nominee
Product Benefit
| Benefit | Description | |||||
|---|---|---|---|---|---|---|
| MATURITY | Your policy matures at the end of the policy term you have chosen and all your risk cover ceases.You may redeem your balance units at the then prevailing unit price and take the fund value. You can also take your fund value at maturity in periodical instalments | |||||
| DEATH | ||||||
| Classic Benefit | 105% of the premiums paid | 105% of the premiums paid | Fund Value | |||
| The partial withdrawals to be deducted from the death benefit shall be : - | ||||||
| For death before attainment of age 60 - all partial withdrawals made during the two year period immediately preceding the date of death of the Life Assured | ||||||
| For death on or after attainment of age 60 - all partial withdrawals made after attainment of age 58 |
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| For are duced paid-up policy, the Death Benefit shall be the highest of : - | ||||||
| Paid up Sum Assured | Fund value | 105%of total premiums paid | ||||
| Accidental Death Benefit | ||||||
| This benefit is only available under Classic Benefit Extra Life Option | ||||||
| The accidental death benefit shall be payable provided the death happens within 180 days of occurrence of the accident | ||||||
| Classic Plus Benefit | In case of the Life Assured's unfortunate demise, we will pay Following to nominee | |||||
| Sum Assured + Fund value | 105% of the premiums paid | |||||
| For a reduced paid-up policy, the Death Benefit shall be the higher of :- | ||||||
| Paid up Sum Assured + fund value | 105%of total premiums paid | |||||
| Notes : The policy will terminate thereafter and no more benefits will be payable. | ||||||
| Classic Waiver Benefit | In case of the Life Assured's unfortunate demise, we will pay Following to nominee | |||||
| Sum Assured | 105% of the premiums paid | |||||
| For a reduced paid-up policy, the death benefit shall be the higher of :- | ||||||
| Paid up Sum Assured | 105% of total premiums paid | |||||
Other Policy Features
| Feature | Description | |||||
|---|---|---|---|---|---|---|
| Benefit Option | Death Benefit | |||||
| Classic Benefit (Life Option) | Higher of Sum Assured OR Fund Value | |||||
| Classic Benefit (Extra Life Option) | Higher of (Sum Assured OR Fund Value) PLUS Accidental Death Benefit |
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| Classic Plus Benefit | Sum Assured AND Fund Value | |||||
| Classic Waiver Benefit | Sum Assured PLUS Waiver of amount equal to the modal premiums | |||||
| Notes: - Refers to modal premium of the policy had it been a premium paying policy | ||||||
| Fund | Asset Class | |||||
| Money Market Instruments Cash & Liquid Mutual Fund |
Government Securities, Fixed Income Instruments Securities, Bonds |
Equity | RISK & RETURN RATING |
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| FUND COMPOSITION | ||||||
| Equity Plus Fund | 0% to 20% | 0% to 20% | -- | Very High | ||
| Diversified Equity Fund | 0% to 40% | 0% to 40% | 80% to 100% | Very High | ||
| Blue Chip Fund | 0% to 20% | - | 60% to 100% | Very High | ||
| Opportunities Fund | 0% to 20% | - | 80% to 100% | Very High | ||
| Balanced Fund | 0% to 20% | 0% to 60% | 40% to 80% | Moderate to High | ||
| Income Fund | 0% to 20% | 80% to 100% | - | Moderate | ||
| Bond Fund | 0% to 60% | 40% to 100% | - | Moderate | ||
| Conservative Fund | 0% to 60% | 40% to 100% | - | Low | ||
| Fund Management | fund management charge of only 1.35% per annum charged daily,of the fund's value. | |||||
| PARTIAL WITHDRAWAL | The Life Assured is at least 18 years of age | The minimum partial withdrawal amount is Rs. 10,000. This is subject to change from time to time. | ||||
| For single premium payment policies, maximum amount that can be withdrawn from the basic fund value throughout the policy term is 50% of single premium. | ||||||
| The fund value after the partial withdrawal and any applicable charges is not less than 150% of your annualised premium for limited and regular premium payment policies |
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| For limited and regular premium payment policies, the maximum amount that can be withdrawn from the basic fund value throughout the policy term is 300% of the A.P | ||||||
| ON DISCONTINUANCE | Discontinuance before completion of 5 years from commencement of the policy :- | |||||
| The following provisions are applicable for policies other than single premium payment policies | ||||||
| To revive the policy within a period of 2 years from the date of discontinuance | ||||||
| To completely withdraw from the policy without any risk cover | ||||||
| Discontinuance after completion of the 5 years from commencement of the policy | ||||||
| The following provisions are applicable for policies other than Single and Limited premium payment of 5 years | ||||||
| To revive the policy within a period of 2 years from the date of discontinuance | ||||||
| To completely withdraw from the policy without any risk cover | ||||||
| REVIVAL OF DISCONTINUED POLICY | If your policy is discontinued before completion of 5 years then at the time of revival: | |||||
| All due premiums which have not been paid shall be payable without charging any interest | ||||||
| Policy administration charge and premium allocation charge as applicable during the discontinuance period shall be levied | ||||||
| ON SURRENDER | If you surrender before completion of the 5 years from commencement of the policy :- | |||||
| The fund value corresponding to the 'Discontinued Policy Fund' will be paid out on the completion of the lock-in period | ||||||
| In case of the death of the Life Assured before the payment of the surrender benefit, the amount in the 'Discontinued Policy Fund' will be paid out | ||||||
| If you surrender after completion of the 5 years from commencement of the policy :- | ||||||
| Your fund value will be paid out. | policy terminates and no further benefits | |||||
| LOANS | No policy loans are available for this product | |||||
Add-ons
Not Available
Charges
| Charges | ||||||
|---|---|---|---|---|---|---|
| Premium Allocation Charge | ||||||
| Limited Pay / Regular Pay | ||||||
| Premium Bands | Payment Modes | Year 1 | Year 2-3 | Year 4-5 | Year 6 & Above | |
| Less Than 1 Lakh | Annual Mode | 9.00% | 7.00% | 6.00% | 5.00% | |
| Non - Annual Mode | 7.00% | 6.00% | 5.00% | 5.00% | ||
| 1 Lakhs - 4,99,999 | All Modes | 6.00% | 6.00% | 6.00% | 3.00% | |
| Non - Annual Mode | 6.00% | 6.00% | 5.00% | 3.00% | ||
| 5 Lakhs - 9,99,999 | All Modes | 5.00% | 5.00% | 5.00% | 3.00% | |
| 10 Lakhs & Above | All Modes | 4.00% | 4.00% | 4.00% | 3.00% | |
| Single Premium | ||||||
| Premium Bands | Charge | |||||
| Less than 10 | 3.00% | |||||
| 10 Lakh - 24,99,999 | 1.50% | |||||
| 25 Lakh and above | 1.00% | |||||
| Fund Management | fund management charge of only 1.35% per annum charged daily, of the fund's value. | |||||
| Policy Administration Charge |
This charge is a % of the annualised premium/single premium. The charge will be deducted monthly to provide administration for your policy. |
Year | Single Premium Payment | Regular/Limited Premium Payment | ||
| 1 to 5 | 0.12% of Single Premium per month | Nil | ||||
| 6 and above | 0.07% of Single Premium per month increasing at 5% per annum on each Policy Anniversary | 0.39% per month of the annualised premium increasing at 5% per annum on each Policy Anniversary |
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| The policy administration charge is subject to a cap of Rs. 500 per month. The percentage charge each year will be rounded to 2 decimal places. | ||||||
| Mortality & Other Risk Benefit Charge | Every month we levy a charge for providing you with the death cover & other risk benefit in your policy, Monthly charge depend on age. | |||||
| Miscellaneous Charge | Any policy alteration request initiated by the Policyholder will attract a charge of Rs.250 per request | |||||
| Discontinuance during the policy year | Discontinuance Charge ( For Regular Premium Payment) | |||||
| Annual Premium up to Rs.25,000 | Annual Premium Above Rs.25,000 | |||||
| 1 | Lower of 20% x (Annual Premium or Fund Value) but not exceeding Rs.3000 | Lower of 6% x Annual Premium or Fund Value)but not exceding Rs.6000 | ||||
| 2 | Lower of 15% x (Annual Premium or Fund Value) but not exceeding Rs.2000 | Lower of 4% x Annual Premium or Fund Value)but not exceding Rs.5000 | ||||
| 3 | Lower of 10% x (Annual Premium or Fund Value) but not exceeding Rs. 1500 | Lower of 3% x Annual Premium or Fund Value)but not exceding Rs.4000 | ||||
| 4 | Lower of 5% x (Annual Premium or Fund Value) but not exceeding Rs.1000 | Lower of 2% x (Annual Premium or Fund Value)but not exceding Rs.2000 | ||||
| 5 + | NIL | NIL | ||||
| Discontinuance during the policy year | Discontinuance Charge ( Single Premium payment ) | |||||
| Single Premium up to Rs.25,000 | Single Premium above Rs.25,000 | |||||
| 1 | Lower of 2% x (Single Premium or Fund Value) but not exceeding Rs.3000 | Lower of 1% x(Single Premium or Fund Value) but not exceding Rs.6000 | ||||
| 2 | Lower of 1.5% x(Single Premium or Fund Value) but not exceeding Rs.2000 | Lower of 0.5% x(Single Premium or Fund Value) but not exceding Rs.5000 |
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| 3 | Lower of 1% x (Single Premium or Fund Value) but not exceeding Rs.1500 | Lower of 0.25% x (Single Premium or Fund Value) but not exceding Rs.4000 | ||||
| 4 | Lower of 0.5% x (Single Premium or Fund Value) but not exceeding Rs. 1000 | Lower of 0.1% x (Single Premium or Fund Value) but not exceding Rs.2000 | ||||
| 5 + | NIL | NIL | ||||
Exclusions
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of issuance of the Policy, the Policy shall be void and the Company will only be liable to pay the premiums paid till date.
Tax Benefits
Tax benefits will be as per Section 80C & Section 10(10D) of the Income Tax Act, 1961
Claim Process
Know Claim Process of HDFC Life Sampoorn Nivesh
Company Overview
HDFC Life is a joint venture between Housing Development Finance Corporation Limited (HDFC), India's leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom.HDFC Ltd. holds 70.65% and Standard Life (Mauritius Holding) 2006 Ltd. holds 26.00% of the equity in the joint venture while the rest is held by others.
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