HDFC Life Sampoorn Samridhi Insurance Plan
Product Info
UIN
Status
Launch Date
Withdrawn Date
Product Overview
HDFC Life Sampoorn Samridhi Insurance Plan traditional “with profits” endowment plan helps the policyholder build savings. This plan offers a wide choice of a whole life coverage or enhanced terminal bonus on the maturity.
Product Description
- This plan offers a choice of whole Life Coverage.
- Enhanced Terminal bonus on the maturity.
- This plan is a traditional “with profits” endowment plan which helps the policyholder to build savings.
COMPARE & BUY SIMILAR PLANS
Unique Features
- HDFC Life Sampoorn Samridhi Insurance plan is a simple traditional plan which offers 2 unique options at the maturity.
- Accidental Death Benefit is in-built.
- Maturity options of Enhanced Cash Option and Enhanced Cover Option.
- Guaranteed reversionary bonus of 3% up to 31-Mar-2021. Beyond this, it would depend on insurance company performance.
Eligibility Criteria
| Eligibility Criteria | ||||||
|---|---|---|---|---|---|---|
| Age Of Entry | - | |||||
| Max age of Maturity | 75 Years | |||||
| Premiums | ||||||
| Policy Term | Anuual | Half Yearly | Quarterly | Monthly | ||
| Less than 10 Years | Rs.24,000 | Rs.12,000 | Rs.6,000 | Rs.2,000 | ||
| Greater than or equal to 10 Years | Rs.12,000 | Rs.6,000 | Rs.3,000 | Rs.1,000 | ||
| Maximum | No Limit* | |||||
| Notes: Premiums are to be paid throughout the policy term. | ||||||
| Sum Assured | Depends on age, policy term and premium frequency | |||||
| Minimum | Maximum | |||||
| Policy Term (Years) | 5 | 40 | ||||
| Premium Payment Term(Years) | Policy term less 5 years | |||||
OneInsure App Benefits
Product Benefit
- Maturity :
- Enhanced Cover Option: Sum Assured + accrued reversionary bonus + any interim + any terminal bonus will be paid on maturity date + whole of life cover i.e. additional sum assured on death up to 99 years
- Cover or Enhanced Cash within 30 to 180 days before maturity date
- Death :
- Sum Assured + accrued reversionary bonus + any interim + any terminal bonuses
- The policy will terminate and no further benefits will be paid.
- Accidental Death Benefit :
- In case of death due to accident during the term of the policy, an additional Sum equal to Sum Assured on Death is payable
- Accidental Death must be caused within 90 days of any bodily injury
Other Policy Features
| Feature | Description | |||||
|---|---|---|---|---|---|---|
| Bonuses | A Simple Reversionary Bonus as % of Sum Assured on Vesting, Declared at the end of financial year | |||||
| The Reversionary Bonus is guaranteed to be at least equal to 3% p.a. for all bonuses declared up until 31st March, 2021 | ||||||
| Once added to the Policy, the bonus is Guaranteed to be payable on vesting | ||||||
| Interim and terminal bonus if declared will be also added | ||||||
| Policy Loans | Can be availed against the policy, subject to terms and conditions as mentioned in the policy document. | |||||
| Paid-Up | No more bonuses will be attached and the sum assured will reduce to paid-up sum assured | |||||
| No more bonuses will be attached and the sum assured will reduce to paid-up sum assured | ||||||
| Maturity benefit for Paid-Up policy will be Paid-Up Sum assured + attached bonus | ||||||
| Revival | will need to pay all the outstanding Premium & interest on the outstanding Premium& Application taxes | |||||
| A Charge of Rs.250 shall be levied for processing the revival | ||||||
| Surrender | Policy will Acquire a Guaranteed Surrender Value provide 3 full Years | |||||
| The Guaranteed Surrender Value including the value of any attached bonus would be 50% of all premiums paid excluding the first year’s premium and any extra premium | ||||||
| Lapse | In the event the premiums are not paid before the expiry of the grace period during the initial 3 years | |||||
| The policy will terminate and no benefits will be payable. | ||||||
| Grace period | 15 days | |||||
| Conditions where Death benefit will not be payable | No death benefit will be paid if the death has occurred directly or indirectly as a result of suicide within one year of the date of commencement or date of issue or date of revival of the policy | |||||
Add-ons
Not Available
Exclusions
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of reinstatement of the Policy, the Policy shall be void and the Company will only be liable to pay the higher of 80% of premiums paid or the surrender value.
Tax Benefits
Tax benefits will be as per Section 80C & Section 10(10D) of the Income Tax Act, 1961
Claim Process
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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