Assured Returns – The plan offers assured returns on maturity.

Frequency of Premium Payments- Another feature that makes this plan a good option to invest in is flexibility to choose the type of premium payment options.

Tenure – This plan offers a wide range of Policy Term of upto 40 years.

Joint Life cover- Another factor that makes this plan attractive is the option of joint life cover.

Tax- Tax benefits shall be available as per applicable tax laws.

Maturity benefit –

· This plan offers a guaranteed maturity benefit payable as a Lump Sum at the end of policy. The maturity benefit is equal to Sum Assured on Maturity.
Where, Sum Assured on Maturity is equal to (Annualized Premium or Single Premium) x Guaranteed Maturity Multiple (GMM). The GMM varies by age and premium payment term.

· Once Maturity Benefit is paid, the policy terminates and no further benefits are payable.

Death Benefit MULTIPLE –

· Under the Single Premium variant of this product, the Policyholder can choose the Death Benefit Multiple (DBM) in any one of the following two ways:

· Death benefit multiple for Single Premium varies by age as specified in the brochure.

· The DBM for Single Pay has to be chosen at the outset of the contract and can’t be changed later during the policy tenure. The DBM will be multiplied to the Single Premium.

· For Regular/Limited pay variant, the DBM will be fixed at 10 which will be multiplied to the Annual Premium.

DEATH BENEFIT - 

Single Life Coverage

1) In case of death of Life/Lives Assured during the policy term, the following death benefit shall be payable. The death benefit payable to the Nominee under a Single Life policy shall be highest of the following:

· Sum Assured on Death

· Death Benefit Multiple (as chosen by the policyholder)times Single Premium (plus any Underwriting extra premium) for a Single Pay policy OR 10 times Annual Premiumfor a Regular/Limited Pay policy

· 105% of Total Premium(s) Paid till the date of death

· Surrender value applicable as on the date of death

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

Joint Life Coverage

1) In case of death of Life/Lives Assured during the policy term, the following death benefit shall be payable:

First death: The death benefit payable on first death of any of the lives assured shall be the higher of

· Sum Assured on Death

· 105% of Total Premiums paid till the date of death

Upon the payment of this benefit on first death, the policy continues for the surviving life assured.

Second death: The death benefit payable on the second death shall be highest of the following:

· Sum Assured on Death

· Death Benefit Multiple (as chosen by the policyholder) times Single Premium (plus any underwriting extra premium)

· 105% of Total Premiums paid till the date of death

· Surrender Value applicable as on the date of death

Simultaneous death of both lives:

· In case of simultaneous death of both the lives, the death benefit as mentioned above for first and second death shall be payable.

· The death benefit for the elder life shall be paid in accordance with the death benefit under ‘First death’ above and the death benefit for younger life shall be paid in accordance with the death benefit under ‘Second death’ above.

2) Upon the payment of this benefit on the second death, the policy terminates and no further benefits are payable.

A fixed maturity plan is best suited for people who want to get assured returns at maturity. This plan can be used for various life stage needs such as child’s education, marriage, retirement corpus as well as financially securing loved ones.

HDFC Life Sanchay Fixed Maturity Plan scheme comes with a variety of premium frequency options. You can choose to opt for premium payment frequency as single, annual, half - yearly, quarterly, and monthly.

Grace Period is not applicable for Single Premium. For Regular/ Limited Premium payment term you get a grace period of 15 days for monthly Frequency of Premium Payment and 30 days for other frequencies to pay the premium.

While it is advisable to continue the policy to enjoy the maximum benefit offered under this plan, we understand that certain circumstances may arise that you may want to Surrender your policy. Surrender is allowed under the plan. A policy shall acquire a Guaranteed Surrender Value immediately on the payment of Single Premium and on payment of at least first two year's premium in case of a Regular/ Limited Pay policy. For more details, please refer the product brochure.

Yes, you can avail Tax Benefits as per prevailing tax laws. You are requested to consult your tax advisor.

No, Policy Term and premium payment term chosen at inception shall remain the same for the duration of your policy.

Yes, Change of Premium Payment Frequency is allowed. Premium payment frequency available under the plan are Yearly, Half Yearly, Quarterly and Monthly.

Yes, Policy loans will be available during the Policy Term subject to such terms and conditions specified by HDFC Life. For more detail, please refer the product brochure.