HDFC Life Sanchay


HDFC Life Sanchay a non-participating life insurance plan offered by HDFC Bank. The plan comes with a lot of flexibilities in terms of choosing your investment options and provides assured benefits. With the help of HDFC Life Sanchay plan, you can ensure a secured financial future to your family members.

Eligibility Conditions for HDFC Life Sanchay

Minimum entry age

30 days.

Maximum entry age

60 years.

Minimum age at maturity

18 years.

Maximum age at maturity

85 years.

Key Features of HDFC Life Sanchay Plan

Listed below the key features of HDFC Life Sanchay Plan:

Plan type

Non-participating traditional life insurance plan with guaranteed benefits.

Plan basis


Premium paying terms

5, 8 and 10 years.

Policy term

15 to 40 years.

Maturity benefits

180% to 460% of sum assured.

Premium payment frequency

Monthly, quarterly, half-yearly and annually

Guaranteed Additions

8% or 9% of sum assured accumulated after each completed policy year. Guaranteed addiction are paid at maturity.

No Medicals

The plan can be taken without any medicals by answering a few questions.

Free-look period

15 days for manually purchased policy

30 days for policies purchased online.

Grace period

15 days for monthly mode polices

30 days for yearly, half-yearly and quarterly mode policies.

Policy revival

The policy can revived within 2 years from the date of 1st premium missed.


The policy allows alteration of premium paying frequency.


Nomination is accepted under this policy.

Sum Assured

Minimum: Rs. 112, 953.

Maximum: There is no limit.

Policy coverage

Death benefits and maturity benefits.

Benefits/Advantages of HDFC Life Sanchay Plan

The HDFC Life Sanchay Plan provides you with the following key benefits:

  • HDFC Bank card holders can pay convert their premiums into monthly EMIs.
  • The policy offers surrender value provided it is continued till the end of policy tenure.
  • Guaranteed benefits: A percentage of the sum assured is offered as guaranteed benefits after the end of each policy year. The guaranteed benefits are paid at maturity include:

Policy tem

15 to 19

20 to 25 years

Guaranteed benefits



  • Maturity benefits: The policy pays maturity benefits, provided it is in force till the end of policy tenure. The maturity benefits offered by HDFC Life Sanchay include: the basic sum assured plus accrued guaranteed additions.
  • Loan: Policyholder can avail loan against this policy, provided the policy has acquired surrender value. HDFC Life Sanchay offers loans up to 80% of the surrender value.
  • Death benefits: The nominee will receive all the death benefits offered by the policy, provided all due premiums have been cleared. As death benefits, the nominee will receive one of the followings: higher of sum assured, 10 times of annualized premium paid or 105% of the premiums paid, whichever is higher. Besides, the policy will pay the accrued guaranteed additions on death. The policy will terminate after paying all the benefits.
  • The HDFC Life Sanchay plan can be purchased online.
  • Tax benefits: Get tax benefits on the premiums paid for you HDFC Life Sanchay Policy. Tax benefits are offered under section sections 80C & 10(10D) of the India Income Tax Act, 1961. However, these benefits are subject to change as per changes in tax laws.
  • The plan enables you to save for your future and provides enhanced protection you and your dear ones.
  • The plan comes with a lot of flexibilities such as you can pay your premiums on annual, monthly, half-yearly and quarterly basis as per your convenience.

How the HDFC Life Sanchay Plan Works

If you purchase the HDFC Life Sanchay plan for a term of 15 years, you need to pay premiums for 5 years and your sum assured will keep on adding by 8% after the end of every policy year. At the end of your policy tenure or at maturity, you will receive the sum assured plus the accrued guaranteed additions. Also, you will be able to get tax benefits on the premiums paid for 5 years and take loan against your policy. In case, you die within the policy tenure, the policy will pay death benefits to your designated nomine which include either the sum assured or 10 times of annualized premiums or 105% of the premiums paid.

Premium Payment

The HDFC Life Sanchay plan enables to pay your policy premiums as per your convenience. Listed below are the different amounts you need to pay:


Minimum premium per installment

Maximum premium per instalment


Rs. 2,500

No limit


Rs. 7.500

No limit

Half- yearly


No limit


Rs. 30,000

No limit


There is no add –on covers available under the HDFC Life Sanchay Plan.

The HDFC Life Sanchay Plan is a savings plus insurance plan that comes with guaranteed benefits to provide enhanced financial security to you and your family.

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

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