HDFC Life Sampoorn Nivesh
Key Product Features
Multiple Benefit Options: Choice of 3 Benefit Options to suit your financial requirements
Loyalty Additions: Loyalty Additions to enhance your fund value after 10 years
Reduced premium allocation charge: Reduced premium allocation charge on investing higher premium amount
Flexible Investment Period: Flexibility to choose your investment term from 10 to 35 years for Single Pay, and (85 minus Age at Entry) for Limited/ Regular Pay
Convenient Payment Options: Choose your premium payment options – Single, Limited or Regular
Bonuses
Enjoy Guaranteed Loyalty Additions from the tenth year.
Tax benefit
Get tax benefits under 80C and 10 (10D) of the Income Tax Act, 1961
Maturity benefit
On survival till the end of policy term, you will receive your Fund Value as maturity benefit.
Death Benefit
Beneficiaries will receive benefits based on the plan chosen:
Classic: Higher of Sum Assured, Fund Value or 105% of the total premium(s) paid
Classic Plus: Higher of Sum Assured + Fund Value or 105% of the total premium(s) paid.
Classic Waiver: Higher of Sum Assured or 105% of the total premium(s) paid.
Get an accidental death benefit when you choose the Classic Extra Life plan.
The insurance policy reaches maturity after the policy term as chosen by the policyholder. He may cash his leftover balance units at the prevailing unit price at that point in time and get the Fund Value. He may also receive his Fund Value on maturity in the form of regular instalments. Thereafter, the risk coverage will cease, and the policy shall be terminated.
A lump-sum amount as Death Benefit shall be payable to the nominated person or the beneficiary on an unfortunate case of the policyholder’s demise. This benefit will be only paid if death occurs throughout the policy term and if the HDFC Life Sampoorna Nivesh Plan policy status is active. The lump-sum amount shall be higher, as mentioned below:
- The amount of sum assured less partial withdrawals if any;
- Fund Value, or,
- 105% of all the premiums paid to date
In a case where the insured person dies during the policy term due to an accident, an Additional Benefit equal to the Sum Assured will be paid additionally to the Death Benefit, as per conditions.
HDFC Life Sampoorna Nivesh Plan offers you an option for surrendering the policy. One can surrender the plan only if all the due premiums are paid up to date in full. Upon reimbursement of this benefit amount, the policy shall terminate, and no further benefits will be payable in the future.
All the premiums paid for this insurance plan and the benefits received are eligible for a tax deduction as per Sec10 (10D) & Sec 80 C of the Income Tax Act, 1961.