HDFC Life Sampoorn Samridhi Plus Plan 2023 Benefits Features Details Reviews

HDFC Life Sampoorn Samridhi Plus Plan – HDFC Standard Life Insurance Company Limited has created this illustration to help you comprehend the advantages of your HDFC Life Sampoorn Samridhi Insurance Plan. The sales literature that explains the product’s features must be read alongside these illustrations. The values presented are only for illustration’s sake. The actual amount you receive will be contingent on the circumstances surrounding your policy’s future use. The assumed rate of return on investments is especially significant. The illustration depicts the potential return based on two assumed investment return rates.

If you’re looking for an effective and affordable life insurance plan, you’ll want to check out the HDFC Life Sampoorn Samridhi Plus Plan 2023. This plan offers a variety of benefits that are sure to meet your needs, including death coverage, accidental death coverage, and a health insurance policy. Plus, the plan is easily affordable and can be customized to fit your specific needs. Give it a try today and see for yourself how great this life insurance policy can be!

HDFC Life Sampoorn Samridhi Plus Plan 2023

Benefits can be fixed or variable, with returns based on how your life insurance company performs in the future. In the illustration table on this page, if your policy offers guaranteed returns, they will be clearly marked “guaranteed. “The illustrations on this page will depict two distinct rates of assumed investment returns if your policy offers variable returns. Because the value of your policy is dependent on a number of factors, including the performance of future investments, these assumed rates of return are not guaranteed, and they are neither upper nor lower limits on what you might get back.
Future bonus rates are not the assumed investment returns of 6% and 10% per year. The actual returns on investments and a variety of other factors, including but not limited to the effects of taxes, persistence, mortality experience, and so on, influence future bonus rates.
HDFC Life Sampoorn Samridhi Plus Plan 2023

HDFC Life Sampoorn Samridhi Plus Plan 2023 Details

Name Of Article HDFC Life Sampoorn Samridhi Plus Plan 2023
HDFC Life Sampoorn Samridhi Plus Plan 2023 Click Here
Category Insurance
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About HDFC Life Sampoorn Samridhi Plus

The HDFC Life Sampoorn Samridhi Plus plan is a conventional profit plan that also provides coverage for life insurance. It is an endowment policy with a low premium that lets policyholders extend their life insurance coverage for up to 100 years. This endowment policy provides comprehensive insurance coverage and long-term savings for a secure financial future.

Features of HDFC Life Sampoorn Samridhi Plus Plan

  • The HDFC Sampoorn Samridhi Plus plan is a protection and savings plan with bonuses and guaranteed additions for the first five years.
  • offers two different choices: the endowment plan, which pays out a lump sum at the end of the policy’s term.
  • Endowment with a whole life plan: If the policyholder lives to 100 or dies, whichever comes first, they will receive a lump sum at the end of the policy’s term and a sum assured at maturity.
  • It is a participating plan that gives policyholders only a limited amount of time to pay their premiums.
  • In the first five policy years, the policy provides guaranteed additions equal to 3 to 5 percent of the amount insured.
  • The strategy has an in-assembled unplanned advantage rider offering extra advantages in the event of coincidental demise.
  • The policy provides a straightforward Reversionary Bonus, an Interim Bonus, and a Terminal Bonus that are paid in addition to the sum assured.

Benefits of HDFC Life Sampoorn Samridhi Plus Plan

Benefits of maturity: If all premiums are paid in full under the endowment option, the policyholder receives the following at the end of the term:

  • Sum Assured at Maturity
  • Accrued Reversionary Bonus
  • Accrued Guaranteed Additions
  • Interim Bonus, if applicable
  • Terminal Bonus, if applicable

In the event that the life insured has selected the endowment plan with the whole life option, in addition to the Benefit that is payable under the Endowment Option and the Sum Assured on Maturity, they will also get paid if they live to be 100 years old or die, whichever comes first.

Death benefit

The nominee is eligible to receive the highest amount of the following options in the event of the life insured’s death during the policy term:

  • Sum assured on death, accrued guaranteed additions, accrued reversionary bonus, interim bonus (if applicable), terminal bonus (if applicable),
  • 105 percent of all premiums paid up to that point In the preceding scenario, the highest sum assured payable on death
  • a specific amount guaranteed to be paid out in the event of death, which in this instance is the same as the Sum Assured on Maturity.
  • 10 times the annualized premium (up to 50 years old) and 7 times the premium (up to 50 years old).

Accidental death benefit:

The nominee receives the sum assured payable on death in the event of the policyholder’s death during the policy term. Only if the life insured was over the age of 18 when they died will the benefit be paid out. definite additions: During the first five years of the plan, the policy guarantees additions.

Bonuses:

This plan also gives the policyholder a Reversionary Bonus or a Terminal Bonus. Bonus Reversionary: A simple reversionary bonus is a percentage of the sum assured payable that is announced at the end of the year. Bonus for Terminals: The policyholder can get a share of the surplus at the end of the policy term through a terminal bonus. It is based on the insurance policy’s future performance and is paid out in one lump sum. This bonus is not a promise of a benefit.

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Eligibility Criteria

In order for a customer to purchase the HDFC Life Sampoorn Samridhi Plus Plan, certain eligibility requirements must be satisfied.

ELIGIBILITY MINIMUM MAXIMUM
Entry age 30 days 60 years
Maturity age 18 days 75 years
Policy term 15 years 40 years or up to 100 years of age
Sum assured Rs. 65,463
Premium Monthly: Rs. 1,000
Quarterly: Rs. 3,000
Half-yearly: Rs. 6,000
Yearly: Rs. 12,000
No limit
Subject to underwriting policy of the insurer
Premium paying term Policy term less 5 years Policy term less 5 years

Premium details

Age/term Endowment option Endowment with a whole life option
15 years 20 years 15 years 20 years
30 years Rs. 13,241 Rs. 8978 Rs. 14,811 Rs. 10,023
40 years Rs. 13,363 Rs. 9071 Rs. 15,418 Rs. 10,407
50 years Rs. 13,796 Rs. 9361 Rs. 16,526 Rs. 11,104

Other benefits or features

Grace period:

The grace period is the time during which the plan with risk cover is in effect after the premium payment deadline. For plans with annual, half-yearly, and quarterly frequencies, the HDFC Life Sampoorn Samridhi Plus Plan provides a 30-day grace period. Plans with a monthly payment frequency have a 15-day grace period. During the grace period, the policy remains in effect, and the insurance company will honor any claim.

Policy lapse:

If the due premiums are not paid within the grace period, the plan will end if the guaranteed surrender value has not been reached. Risk coverage ceases upon policy lapse, and the insurance company is not liable for benefits. However, a policy that has expired can be revived.

Policy revival:

A lapsed policy can be revived by the policyholder during the revival period, provided that all terms are followed. All due premiums, taxes, and interest, as well as any applicable fees, must be paid in order to reinstate a policy that has expired. Processing a revival may incur additional costs from the insurance company. From the date of the first unpaid premium, the policy provides revival premium coverage for two years. All contractual benefits are reinstated once the policy is reinstated.

Surrender:

It is best to keep the policy until the end of the term in order to take advantage of all of the plan’s benefits. The policyholder, on the other hand, has the option to surrender the policy, at which point the business will pay the Guaranteed Surrender Value. The sum of the following will determine the value:

  • Percentage of all paid premiums
  • Percentage of accrued bonuses and guaranteed additions

Free-look period:

If the policyholder is dissatisfied with the terms and conditions, they can return them to the insurer with a note explaining why they want to cancel. Within 15 days of receiving the policy, the return must be made. The free-look period is the name given to this period. Policies purchased through distance marketing have a 30-day free-look period. The insurance company will reimburse the premium, if paid, in the event of such cancellation.

Tax benefits:

According to Section 80C of the Income Tax Act of 1961, premiums paid under the HDFC Life Sampoorn Samridhi Plus plan are eligible for tax benefits.

Loan against policy:

Once the HDFC Life Sampoorn Samridhi Plus Plan reaches its surrender value, policyholders are eligible to receive a loan. The surrender value is 80% of the maximum loan amount that can be obtained.

SUM ASSURED ON MATURITY REBATE ON PREMIUM PER RS. 1000 SUM ASSURED
Rs. 1,50,000 to Rs. 3,00,000 4.5
Rs. 3,00,000 to 5,00,000 6
Rs. 5,00,000 and above 7.5

Documents Required for HDFC Life Sampoorn Samridhi Plus

The HDFC Life Sampoorn Samridhi Plus Plan application process is straightforward. The customer must first provide the insurance company with the following documents. Among these documents are:

Age proof: Driving license, Passport

Identity proof: PAN card, Aadhaar card, Birth Certificate

Address proof: Utility bill, Aadhaar card, or bank account statement

The customer is required to fill out the policy application form and provide self-attested copies of the KYC documents in addition to the aforementioned documents.

Exclusions of HDFC Life Sampoorn Samridhi Plus

The nominee is entitled to 80% of the total premiums paid if the policyholder commits suicide within a year of the policy’s start date, provided the policy is still in effect. The nominee is entitled to the greater of the following in the event that the policyholder dies by suicide within a year of the date the policy was revived:

  • 80% of the all paid premiums till the date of death
  • The surrender value of the plan as on the date of death

The policyholder’s accidental death due to alcohol abuse, self-inflicted injury, participation in the war, hazardous activities, aviation, and criminal activities are not covered by the accidental death benefit.

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Reviews of HDFC Life Sampoorn Samridhi Plus

The HDFC Life insurance company has a large nationwide network. The items presented by the organization are generally available to its clients. The HDFC Life Sampoorn Samridhi Plus policy is an endowment plan that also provides policyholders with whole life coverage. The policy provides life insurance for up to 100 years. In order to safeguard your family’s financial future, this endowment plan provides both comprehensive life insurance coverage and long-term savings.

Participating plan HDFC Life Sampoorn Samridhi Plus lets you pay your premiums for a limited time. In addition to guaranteed additions in the first five policy years, the company provides maturity and death benefits. the event of the policyholder’s accidental death, a built-in accidental death benefit rider provides additional benefits to the nominee. In addition, the policy provides an Interim Bonus, a Terminal Bonus, and a Simple Reversionary Bonus to assist you in increasing the value of your corpus.

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