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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

 4.0 / 5.0   by 1272 users
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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 taken the MONEY BACK policy with HDFC LIFE and using from last one year. The policy coverage is for self added on that the policy maturity period is fir self, i have got no cash backs so far with this policy. Premium paying for yearly once.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 16, 2019
  • HDFC Life
    HDFC Life Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    TERM plan that i am using with the HDFC LIFE since from last 2 months. It gives the coverage of the critical illness and also accidental death coverage and permanent disability also there is no need of paying for these coverage. The coverage for self, premium paying for yearly once of 11500 rupees approximately.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 12, 2019
  • HDFC Life Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I am using the ULIP plan with the HDFC LIFE since 6 months, the reason for taking the policy is my friend recommended because features are good. The premium paying for 50K for yearly once through online. The documentation process was done through online and the medical test taken at home. The maturity period is for 15 years, lock in period 5 years.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 12, 2019
  • HDFC Life Life Insurance
    "BETTER"
    0.5 3.0/5 "Satisfactory"
    I am using the policy of HDFC LIFE since from last 7 years, the name of the policy is children plan. It gives the coverage for self and children. The premium paying for yearly once with this policy also the maturity period is for 15 years with this policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jun 08, 2019
  • HDFC Life Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in HDFC LIFE. The policy is for 10 years. Now I am paying premium in the annual package. While getting a policy my agent has given an information about the policy details and provided hard copy documents as well. I use to do payment through an online.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 07, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 3.0/5 "Satisfactory"
    I have taken the ACCIDENTAL POLICY with the HDFC LIFE where the policy i am using it since from last 2 years. The premium paid for first year was 5400 rupees and second year it was 6800 rupees and the coverage is 3L and above. The listed hospital is far away from my place.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jun 04, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in HDFC LIFE. The policy is for ten years. Now I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details and provided hard copy documents as well. I use to do payments through an online.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 30, 2019
  • HDFC Life Life Insurance
    "Good for family member protection"
    0.5 5.0/5 "Blown Away!"
    I pay Rs. 14,000 premium to HDFC life for the term plan. I selected the sum assured of Rs. 1 crore. I added one nominee even their claim settlement ratio and grievance resolved is good, at the time of taking policy they explained all. I make the payment through online payment they have critical illness and premium terminal on disabilities.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 30, 2019
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been holding my life insurance with HDFC Life, their service is good they have charged premium on monthly basis, i use to pay premium amount through on line and their customer service is good they explained me about all policy it cover in this life insurance.Their overall service is good.
    Was this review helpful? 0
    , chandigarh
    Reviewed on May 29, 2019
  • HDFC Life Life Insurance
    "Good insurance policy"
    0.5 4.0/5 "Great!"
    I have purchased my life insurance policy from HDFC LIFE and i have chosen the policy name called Classic Assure. For the future purpose i have purchased this policy. I like the features and benefits of the policy. The policy coverage is better
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 29, 2019
  • HDFC Life Life Insurance
    "Worth Policy"
    0.5 4.0/5 "Great!"
    Purchased my term insurance policy from HDFC LIFE. The coverage was far better than any other company. This covers for partial disability and critical illness. I have chosen because of the benefits. I pay the premium amount of Rs. 20000 yearly basis and the coverage is very much convenient for me.
    Was this review helpful? 0
    , vadodara
    Reviewed on May 28, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have taken the life insurance policy with the HDFC LIFE and paid for 5 years latter i have discontinued with this policy because the agent has given wrong info regarding the policy so i got very lesser returns with this policy. The policy is a good policy if continued till end.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 27, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in HDFC LIFE 8 months before. The policy is for 10 years. Now I am paying premium in the yearly package. I came to know an information about the policy details and received a documents as well. The amount will get detect from credit card for the payment.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 27, 2019
  • HDFC Life Life Insurance
    "Good Service"
    0.5 3.5/5 "Pretty good"
    I have taken Life insurance through HDFC Life .The agent gave all the required information.The agent gave all the details about the policy .There was no issues faced so far .I am satisfied with the service .The policy documents received on time .I am comfortable with the service so far.
    Was this review helpful? 0
    , chennai
    Reviewed on May 24, 2019
  • HDFC Life Life Insurance
    "Not so Good Policy"
    0.5 1.0/5 "Really Bad"
    In 2004, i have chosen the life insurance policy from HDFC Life. Since i have a savings account with them, the manager has referred me to take the policy from HDFC LIFE. But the policy is expired. After i taken the policy i went to the branch to make the payment but they said my policy got collapsed because of late payment. They said i need to make the payment every year with the amount of Rs. 10,500 which they have not informed earlier and i don't receive any updates regarding this.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 24, 2019
  • HDFC Life Life Insurance
    "Its Fine"
    0.5 5.0/5 "Blown Away!"
    I have ULIP plan in HDFC Life, if I close the plan within five year take liquidity charges many people not aware of it. Finally they take huge amount. Its a nice plan for life cover, tax saving and other benefits. However if I miss my premium plan wont lapse but charges are higher.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 24, 2019
  • HDFC Life Life Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    I have invested in money back in HDFC. They are very perfect in all the things hence i have chosen the HDFC life. 6 months back, i got this policy. I pay this premium amount of Rs. 10000 every year. Total tenure period of the policy is 5 year with a coverage amount of Rs. 3 lakhs.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 22, 2019
  • HDFC Life Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in HDFC LIFE. The policy is for 50 years. Now I am paying premium in the yearly package for the amount of 15 thousands. While getting a policy my agent has given an information about the policy details. I use to do payment through an online.
    Was this review helpful? 0
    , thane
    Reviewed on May 21, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have purchased the SUPER MONTHLY INCOME PLAN where using it since from last few years. The policy coverage is for self and the premium applying for monthly once with this policy. It has the risk coverage but the policy is comfortable to use.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 14, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have purchased the YOUNGSTAR plan with the HDFC LIFE and using it since from last 4-5 years. and it is based on the shares and mutual fund if the share market is high so the returns are higher. I get the intimation regarding the premium paid receipt so i can take the copy of the premium paid bill.
    Was this review helpful? 0
    , thane
    Reviewed on May 11, 2019
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