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HDFC Life Sampoorn Nivesh

 4.0 / 5.0   by 1181 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

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. HDFC Sampoorn Nivesh 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 life cover. 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 HDFC Life 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

HDFC Life Sampoorn Nivesh Plan Reviews

Page 1 of 50 1 2 3 4 5
  • HDFC Life Life Insurance
    "Very Good Service"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy almost five years back and i had been paying the premium on an annual basis. The premium amount was not too high and the payment method has been easy as well. There has not been any issues faced with the services of them so far.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Jan 13, 2019
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have applied my life insurance with HDFC LIFE , there agent was good, they have explained me clearly about the policy benefit, and there coverage, and the premium amount they have charged me was nominal,like i pay premium up to 6000 rupees for two years, it was on yearly basis , and it use to get auto debited from my account.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Jan 08, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my life insurance with HDFC LIFE, there service is good, the agent had explain me about the policy coverage,and about plan benefits clearly, and the premium amount they have charged me on yearly basis, and they have charged me up to 14,000 it is nominal , and i use to pay the premium amount through on line.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 08, 2019
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have taken my life insurance policy with HDFC life,there service is good, there premium they have charged me was nominal, i pay premium on monthly basis, and there agent had properly explain about the plan benefits and policy ,overall service is good.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 07, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have applied my life insurance with HDFC life, there agent was good, they have explained me clearly about the policy benefit, and there coverage, and the premium amount they have charged me was nominal, it was on yearly basis , and i use to pay premium through on line.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 07, 2019
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my life insurance with HDFC life insurance, there service is good, there agent had explained me clearly about the policy coverage and benefits,and the premium amount i use to pay in yearly basis, and the premium amount is nominal,and overall service is good.
    Was this review helpful? 0
    , jaipur
    Reviewed on Jan 06, 2019
  • HDFC Life Life Insurance
    "Don't go with HDFC LIFE for Insurance"
    0.5 2.0/5 "Expected more"
    I have invested Rs. 80000 in HDFC LIFE. They have deducted the money from my account but they have not able to generate a bill. Due to the uncertanity, i have not continued with this policy. They charged me twice for single premium. I closed the policy but they have taken long time to return the money anyway it took a long process. I spoke with the call centre regarding this issue but they were not helpful.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 02, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 4.5/5 "Excellent!"
    I have been using the HDFC Life Insurance policy for long time. they charge nominal premium for this policy it also offers accidental benefits and I make payment through online. so in terms of features and their service it has been a good experience with them. HDFC Life is a recommendable insurance provider.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 02, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have applied my life insurance with Life insurance corporation of India, there agent was good, they have explained me clearly about the policy benefit, and there coverage, and the premium amount they have charged me was nominal, it was on yearly basis , and i use to pay premium through on line.
    Was this review helpful? 0
    , new delhi
    Reviewed on Dec 24, 2018
  • HDFC Life Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have chosen the investment plan in HDFC. In 2016, i have taken this policy. I pay the premium of Rs. 40000 per annum. Through online, i make the payment. Total tenure period of the policy is 10 years. This is a tax benefitable policy. I don't remember about the sum assured amount.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 22, 2018
  • HDFC Life Life Insurance
    "Good Benefits after tenure"
    0.5 4.0/5 "Great!"
    I am an existing customer I used to pay the premium around Rs. 25,000 per annum for the total tenure of 10 years. Then I get the benefits with the sum assured value and bonus of the premium and they do have life coverage and I am getting the tax benefits too.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 20, 2018
  • HDFC Life Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I hold a life insurance policy with HDFC LIFE from last 7 years and it is a long term policy. I make my premium payments on yearly basis through net banking and i am convenient with the payment options. The returns and benefits are good with this policy and tenure period is 10 years.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 20, 2018
  • HDFC Life Life Insurance
    "GOOD"
    0.5 3.0/5 "Satisfactory"
    I am not satisfied with the service of the HDFC LIFE where i have purchased the life insurance policy with this HDFC LIFE. I have started using it from past few years where the policy is very good. They give the fake promises for this policy....
    Was this review helpful? 2
    , bangalore
    Reviewed on Dec 15, 2018
  • HDFC Life Life Insurance
    "Fine policy for emergency purpose"
    0.5 5.0/5 "Blown Away!"
    Along with my personal loan they have provided me a life insurance policy from HDFC LIFE. I have to pay the premium amount of Rs. 6000 in a year. I used to pay the premium through online. Total tenure period of the policy is 4 years. I'm getting a sum assured amount of Rs. 3 lakhs.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Dec 13, 2018
  • HDFC Life Life Insurance
    "Every salary holder must taken this policy"
    0.5 4.0/5 "Great!"
    I have purchased the HDFC accidental policy nearly 4 years before. I have been paying the premium amount of Rs. 80000. I used to make the premium through my credit card and i covert into EMI basis. This is annual payment mode policy. This policy has coverage value of Rs. 15 lakhs and all my member covered in this policy
    Was this review helpful? 0
    , kolkata
    Reviewed on Dec 13, 2018
  • HDFC Life Life Insurance
    "Yet to experience the policy"
    0.5 4.0/5 "Great!"
    I have purchased a ULIP policy from HDFC Life. 4 months before i have taken this policy. I have been paying the premium amount of Rs. 2000 every month. The sum assured amount is 5 lakhs. This is a tax benefitable policy. Through Internet i have purchased this policy. I make the payment in online by using the debit card.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 11, 2018
  • HDFC Life Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I am having a life insurance policy with HDFC LIFE from last 9 years and it is a long term policy. I make my premium payment through online and on yearly basis. I am convenient with the payment options and tenure period for this policy is 15 years. I am happy with the returns and benefits on this policy.
    Was this review helpful? 0
    , kolkata
    Reviewed on Dec 11, 2018
  • HDFC Life Life Insurance
    "Good policy to take"
    0.5 5.0/5 "Blown Away!"
    Total tenure period of the policy is 10 years. I have to pay the premium amount for 7 years and 3 years will be lockin period. They have done a very good follow up on documentation and explained the policy details very well. They will call on the premium time. The amount will be auto debited from account. In a year, i have to pay the premium amount of Rs. 50000. 1 year back, i took this policy.
    Was this review helpful? 1
    , amravati
    Reviewed on Dec 11, 2018
  • HDFC Life Life Insurance
    "Good insurance policy"
    0.5 5.0/5 "Blown Away!"
    My life insurance policy was taken with HDFC Life. Total tenure period of the policy is 8 years. I pay the premium amount of Rs. 40000 and i have selected the annual payment mode. I make the premium through cheque mode. Overall, I'm satisfied with this policy.
    Was this review helpful? 0
    , vellore
    Reviewed on Dec 04, 2018
  • HDFC Life Life Insurance
    "Recommendable policy"
    0.5 5.0/5 "Blown Away!"
    I have bought the HDFC LIFE insurance policy 3 years before. I'm making the payment amount of Rs. 28000 every year. I have no idea about the sum assured amount and policy benefits. This is a tenure period 10 years. I make the premium amount through cheque.
    Was this review helpful? 0
    , vellore
    Reviewed on Dec 04, 2018
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