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HDFC Life Sampoorn Nivesh

Overview

We all know that savings is a key component to a financially secure future. But protecting those savings and investments are just as integral to a financial plan. is an insurance plan that allows you to save up for your future and your long term goals by investing your funds while providing you and your family the security of . This plan offers 3 benefit options that you can choose from to customize the plan to your requirements.

Eligibility of HDFC Sampoorn Nivesh

Criteria

Minimum

Maximum

Age of entry for Classic Benefit life option

30 days or 0 years

54 years for a 5 year pay term and 60 years otherwise

Age of entry for Benefit extra life option

18 years as at last birthday

53 years for a 5 year pay term and 58 years otherwise

Age of entry for classic plus benefit

30 days

48 years for a 5 year pay term and 50 years otherwise

Age of entry for classic waiver benefit

18 years as at last birthday

47 years for a 5 year pay term and 50 years otherwise

Age of Maturity for Classic Benefit life option

18 years as at last birthday

64 years for a 5 year pay term and 70 years otherwise

Age of Maturity for Benefit extra life option

28 years as at last birthday

63 years for a 5 year pay term and 68 years otherwise

Age of Maturity for classic plus benefit

18 years as at last birthday

58 years for a 5 year pay term and 60 years otherwise

Age of Maturity for classic waiver benefit

28 years as at last birthday

57 years for a 5 year pay term and 60 years otherwise

Sum assured for Single Premium with less than 45 years age of entry

Both minimum and maximum values are 125% of the Single premium value

 

Sum assured for Single Premium with more than 45 years age of entry

Both minimum and maximum values are 125% of the Single premium value

 

Sum assured for regular Premium with less than 45 years age of entry

Both minimum and maximum values are 10 times the value of the annualised premium

 

Sum assured for Regular Premium with less than 45 years age of entry

Minimum is 7 times the value of the annualised premium and maximum is 10 times the value of annualised premium

 

Policy Term

10 years, or 15 to 25 years.

 

Premiums

No maximum limit but RS 24,000 for Single and Annual, RS 12000, quarterly is RS 6000 and monthly is RS 2000

 

Premium Payment term

Single or limited which is 5 or 7 or 10 years and regular which is 10 or 15 to 25 years

 

Key Features of HDFC Sampoorn Nivesh

  1. The plan is a unit linked insurance plan
  2. The plan is of an Individual basis
  3. The plan offers a convenient mode of premium payment.
  4. The plan offers 4 options to choose from that enable you to customize the policy as per your requirements
  5. The plan offers 8 different investment funds with varying risk exposure that helps you maximise the growth of your corpus.
  6. Tax benefits are applicable on investments made as premiums and the returns from the policy for life insurance
  7. HDFC Sampoorn Nivesh allows for partial withdrawal of funds along with other added benefits such as loyalty additions and non negative claw back additions
  8. Nomination and assignment is available under the policy.
  9. Free look period is 15 days and 30 days if policy is acquired through distance marketing.

How the Plan Works

While purchasing the policy, the policyholder would be required to select the sum assured, the term of the policy. They would have to select among the 4 benefit options offered, choose a premium payment term and pay premiums accordingly and also select the investment fund they would like to utilize. The premiums paid are deducted of all applicable charges and are invested in the funds of the policyholder's choice. When the policy reaches maturity the policyholder receives the accumulated value of the funds minus any applicable charge.

Benefits and Advantages of HDFC Sampoorn Nivesh

The plan from HDFC life aims to maximize your savings by investing it in a range of funds that you can choose from. The policy also offers 4 options for you to customize your plan. The advantages and the benefits of the plan are given below

  1. Maturity option: Upon the policy reaching the date of maturity the policyholder will receive the total value of funds. They can take this as a lump sum or in periodical instalments. The life cover of the policy ceases upon date of maturity

  2. Death benefit under Classic Benefit (Life Option): In this policy option, in the unfortunate event of the policyholder's death the nominee will receive higher of either the sum assured or the funds value or 105% of the premiums paid.
  3. Death benefit under Classic Benefit (Extra Life Option): This policy option offers cover for accidental death wherein if the policyholder dies due to an accident, the nominee will receive an additional death benefit equal to the sum assured along with the actual death benefit. This option can be chosen only at the time of purchasing the policy and the benefit will be paid out in a period of 180 days from date at which policyholder expires.
  4. Death benefit under Classic Plus Benefit: In this policy option, if the policyholder dies the nominee will receive the higher of the sum assured plus the fund value or 105% of the total premiums paid.
  5. Death benefit under Classic waiver Benefit: In this policy option, if the policyholder dies the nominee receives the higher of either the value of the sum assured or 105% of the premiums paid to date. In addition to this, at the date of any future premiums to be paid, a value equal to the value of the modal premium minus any applicable charges will be credited to the account of the policyholder. The policy then continues with no life cover till date of maturity wherein the fund value will also be paid out to the nominee.
  6. Partial withdrawal: This plan allows for partial withdrawal of the funds and is possible if the policyholder is above 18 years of age and the minimum withdrawal amount is RS 10,000.
  7. Loyalty additions are offered on this policy and is credited starting from the end f the 11th policy year for regular pay option and starting from the 10th year to the 14th year for single premium payment policies. For single premium policies the loyalty additions are calculated at 1.50% of the average fund value.

Investments

This plan offers a selection of 8 investment funds with varying degree of risk exposure. They are mentioned below

Name of fund

Assets

Composition

Risks and Returns

Equity Plus Fund

Cash and money market instruments

0% to 20%

Very High

 

Government securities and fixed income bonds

0% to 20%

 
 

Equity

80% to 100%

 

Diversified Equity Fund

Cash and money market instruments

0% to 40%

Very High

 

Government securities and fixed income bonds

0% to 40%

 
 

Equity

60% to 100%

 

Balanced Fund

Cash and money market instruments

0% to 20%

Moderate to high

 

Government securities and fixed income bonds

0% to 60%

 
 

Equity

40% to 80%

 

Blue Chip Fund

Cash and money market instruments

0% to 20%

Very High

 

Equity

80% to 100%

 

Opportunities Fund

Cash and money market instruments

0% to 20%

Very High

 

Equity

80% to 100%

 

Income Fund

Cash and money market instruments

0% to 20%

Moderate

 

Government securities and fixed income bonds

80% to 100%

 

Bond Fund

Cash and money market instruments

0% to 60%

Moderate

 

Government securities and fixed income bonds

40% to 100%

 

Conservative Fund

Cash and money market instruments

0% to 60%

Low

 

Government securities and fixed income bonds

40% to 100%

 

Charges

The Sampoorn Nivesh plan allows you to choose from 8 different funds to invest in. These services that allow you to maximise your savings and help you build your corpus come with certain applicable charges that are mentioned below

Premium Allocation charge is a charge deducted from every premium prior to investing. It is applicable on every premium throughout duration of policy. The following table shows the premium allocation charges for both single and regular pay. If the policy is a single pay policy and if the premium is less than RS 10 lakhs, charge s 3%. If premium is between RS 10 lakh to RS 24,99,999 , charge is 1.5% and if the premium is greater than RS 25 lakhs the charge is 1%.

For regular pay policy refer to table below.

Amount of Premium

Modes of payment

1st Year

Years 2 to 3

Years 4 to 5

6th Year and above

Above RS 10 lakhs

All Modes

4.00%

4.00%

4.00%

3.00%

RS 5 lakh to RS 9,99,999

All Modes

5.00%

5.00%

5.00%

3.00%

RS 1 Lakh to RS 4,99,999

Annual

6.00%

6.00%

6.00%

3.00%

 

Non Annual

6.00%

6.00%

5.00%

3.00%

Below RS 1 lakh

Annual

9.00%

7.00%

6.00%

5.00%

 

Non Annual

7.00%

6.00%

5.00%

5.00%

Fund Management charge is a daily charge that is calculated and has a maximum limit subject to the IRDA. The daily charge would be 1.35 % p.a of the fund value.

Policy administration charge is a monthly charge that is deducted from the value of the funds and is a percentage of the annualised or single premium and is subject to a maximum of RS 500 per month. For a single premium payment, for the years 1 to 5 in the term the policy administration charge is 0.12% of the single premium amount per month. From the 6th year and above the charge is 0.07% with an increase of 5% every policy anniversary. For a regular premium payment policy years 1 to 5 have no charge but year 6 onwards it is 0.39% of the annualised premium per month and increases by 5% p.a every policy anniversary.

Mortality charge and risk benefit charge is a monthly charge deducted from the funds value and is based on your age and extent of risk cover in the policy.

Miscellaneous charge is charged when policyholder requests for any change in the policy and is RS 250 per request.

Partial Withdrawal charge: the policy offers 4 free withdrawals each year after which each partial withdrawal will attract a charge of RS 250 and RS 25 if done through the company's web portal

Discontinuance Charge is applicable as follows

Year of discontinuation

Charge for premium below RS 25000

Charge for premium below RS 25000

1st year for regular premium payment option

20% of annual premium but not exceeding RS 3000

6% of annual premium but not exceeding RS 6000

2nd year for regular premium payment option

15% of annual premium but not exceeding RS 2000

4% of annual premium but not exceeding RS 5000

3rd year for regular premium payment option

10% of annual premium but not exceeding RS 1500

3% of annual premium but not exceeding RS 4000

4th year for regular premium payment option

5% of annual premium but not exceeding RS 1000

2% of annual premium but not exceeding RS 2000

5th year for regular premium payment option

No charge

 

1st year for single premium payment option

Lower of 2% of fund value but not exceeding RS 3000

Lower of 1% of fund value but not exceeding RS 6000

2nd year for single premium payment option

Lower of 1.5% of fund value but not exceeding RS 2000

Lower of 0.5% of fund value but not exceeding RS 5000

3rd year for single premium payment option

Lower of 1% of fund value but not exceeding RS 1500

Lower of 0.25% of fund value but not exceeding RS 4000

4th year for single premium payment option

Lower of 0.5% of fund value but not exceeding RS 1000

Lower of 0.1% of fund value but not exceeding RS 2000

5th year for single premium payment option

No charge

 

Switching and premium redirection charge. Both have 4 free switches per policy year and any further switches or redirections would attract a charge of RS 250 per request or RS 25 if done through the company's web page.

Premium Discontinuance

If policyholder decides to discontinue payment of premiums before 5 years of the policy, they can revive the policy within 2 years from the date of the last missed premium or completely surrender their policy wherein the funds will be moved to a discontinued policy fund and acquire an interest rate of 4% p.a. At the end of the lock in period (5 years) they will receive the total value of funds minus any applicable charges. If they discontinue payment of premiums after 5 years of the policy they can either revive the policy within 2 years from the date of the last missed premium or surrender their policy wherein the total value of the funds minus applicable charges will be paid out to the policyholder.

 

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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HDFC Life Sampoorn Nivesh Plan Reviews

Page 1 of 50 1 2 3 4 5
  • HDFC Life Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have started life policy in HDFC LIFE 2years ago, am paying premium of 43K per year and the tenure is 15years. I did not remember the policy name. Am getting the statements within 5mins through my email address when I make the payment through online.
    Was this review helpful? 0
    , kochi
    Reviewed on Oct 19, 2019
  • HDFC Life
    HDFC Life Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance on HDFC LIFE on 5 months before only. The policy is for 20 years. I am paying premium on monthly package the amount which is nominal. While getting a policy my agent has given an information about the policy details. My father has taken an insurance for me. Use to do payment through an online. It covers up to myself only.
    Was this review helpful? 0
    , amritsar
    Reviewed on Oct 17, 2019
  • HDFC Life Life Insurance
    "Better Policy"
    0.5 5.0/5 "Blown Away!"
    From my HDFC LIFE, i have taken my life insurance. The executive came to my place and informed me about the policy details and gave me some offer since it was good, i have selected them. I have been paying the premium amount of Rs. 2500 per month. The policy term is 15 years. I am not sure about the sum assured amount.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 10, 2019
  • HDFC Life Life Insurance
    "People more aware of their offerings &its better than others"
    0.5 4.0/5 "Great!"
    Basically I did not have any idea about the policy and it was just referred by a friend so have opted the policy, just for an investment perspective. I have received the insurance paper. Their executive explained me about the benefits. I pay 50K to 55K through online and tenure is 12 years.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Sep 18, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    HDFC LIFE is offering a good benefits and the charges are nominal when compared with other insurer so I took a term plan with them. They have explained me about benefits of the policy. They need some improvement on the customer service. I have paid 24K for a year.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Sep 03, 2019
  • HDFC Life Life Insurance
    "Average Policy"
    0.5 4.0/5 "Great!"
    Bought my money back policy from HDFC LIFE. Taken the policy in the year of 2016. Earlier i had a salary account with HDFC hence the manager is forcefully to take this policy. I am paying the premium amount of Rs. 25000 annually. I need to pay the premium for 5 years after 5 years there is a lockin period. I get the sum assured amount of Rs. 2.50 lakhs.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 27, 2019
  • HDFC Life Life Insurance
    "Quickest way to insure"
    0.5 5.0/5 "Blown Away!"
    Its very to take a policy through online from HDFC. The claim ratio is very nice hence i have chosen the HDFC LIFE. I'm satisfied with the coverage value of Rs. 50 lakhs. I have chosen the annual payments mode. They do have a partial disability cover is included.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 25, 2019
  • HDFC Life Life Insurance
    "Coverage for the premium is good"
    0.5 4.0/5 "Great!"
    Chosen my term insurance from HDFC LIFE. HDFC has better claim ratio thats the reason i opted the policy. I make the premium through online every time. I pay the premium amount of Rs. 6600. They have included with disability cover and accidental cover. The premium is less since i purchase the policy through online.
    Was this review helpful? 1
    , bangalore
    Reviewed on Aug 16, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I took a term insurance with HDFC LIFE, I have compared with online site and found they are having good payment rates. The customer service is good. I am satisfied with the benefits. I am doing monthly premium of Rs.2000 and need to pay till 15 years. The payment mode is online.
    Was this review helpful? 1
    , bangalore
    Reviewed on Aug 06, 2019
  • HDFC Life Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have a term insurance with HDFC LIFE because the benefits are too beneficial. I am paying 9,400 rupees for a year through net banking. The policy covers till the age of 85. The nominee would be getting a benefit of 75L. They have provide insurance documents on time.
    Was this review helpful? 0
    , mumbai
    Reviewed on Aug 06, 2019
  • HDFC Life Life Insurance
    "Satisfied"
    0.5 4.0/5 "Great!"
    Recently I have purchased a super savings policy from HDFC LIFE. I need to pay the premium for 8 years and after that I will get a profit for every year. They will be providing 10K on monthly basis. I have taken a policy premium of 75K per year. The payment mode is cheque.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 02, 2019
  • HDFC Life Life Insurance
    "If you want save tax, purchase this policy"
    0.5 5.0/5 "Blown Away!"
    Bought my life insurance policy from HDFC LIFE. For the tax benefit purpose, i purchase this policy. I am not sure about the plan name. They will double the money in returns at the time maturity and its a long term plan. I pay the premium amount of Rs. 24000 annually.
    Was this review helpful? 0
    , new delhi
    Reviewed on Aug 01, 2019
  • HDFC Life Life Insurance
    "Excellent Plan"
    0.5 5.0/5 "Blown Away!"
    Bought my life insurance from HDFC LIFE. Every year i need to invest the money of Rs. 50000 for first five years. Next 5 years will be a lockin period. After 10 years, i get the money of Rs. 18000 every year for 5 years and at the time of maturity i get a sum assured amount of Rs. 10 lakhs. I bought this policy for daughter's future.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 31, 2019
  • HDFC Life Life Insurance
    "Satisfactory"
    0.5 5.0/5 "Blown Away!"
    Actually I was looking for a investment plan with HDFC BANK and they have provided me a life insurance. I never asked them for a policy but still they provided me an opportunity then I researched and found the benefits are also good. I need to pay the premium of 30K half yearly through online.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jul 31, 2019
  • HDFC Life Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have chosen the life insurance policy from HDFC LIFE and the plan is Super Income. For the future salary purpose, i have selected the policy. In this policy, i need to pay the premium for first 10 years and the next years will be lockin period and after i can get a lumpsum amount or else i can convert into monthly payment. I pay the premium amount of Rs. 25000 per annum. They are providing the sum assured amount of Rs. 1.87 lakhs.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 30, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have taken the CHILDREN PLAN with the HDFC LIFE where the maturity period of the policy is for 15 years with the policy. The coverage is for self with the policy is for self added on that the benefit of the policy is in case of any incident happened will be getting the amount and after the maturity there is a sum assured.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 29, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am using the life insurance policy with HDFC LIFE and the maturity period of the policy is for 7 years but the premium have to pay for 5 years. The documents submitted through the offline. The sum assure value of the policy is for 5L. I got the hard copy too.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jul 27, 2019
  • HDFC Life Life Insurance
    "Need to provide correct details "
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in HDFC LIFE on 2 years before. The policy is for 10 years and other 10 years for maturity. I am paying premium in the yearly package. While getting a policy my agent has not given an information about the policy details at an initial they stated offers later that offers are not listed in the benefits. I use to do payment through an online.
    Was this review helpful? 0
    , pune
    Reviewed on Jul 26, 2019
  • HDFC Life Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    Yearly once I'm paying the premium for my life insurance. My cousin is working in HDFC hence i have taken the policy. I'm satisfied with the sum assured amount. I make the premium through online. I have a HDFC corporate account hence its easy to pay.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 26, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    TERM PLAN using from last few years, the documents submitted through the online as well as the offline process. The premium paying for 6 months, coverage is for self. There is no coverage apart from this. The customer support is good and responsive.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 22, 2019
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