HDFC Life Sanchay Review
The HDFC Life Sanchay Plus plan offers a Tax-free income and guaranteed maturity benefit. However, there are some drawbacks of this plan, including inflexibility and the requirement to make large premium payments for years and wait for extended returns. However, for investors looking for a minimum income stream, this plan might be an excellent choice. Its renowned HDFC brand lends credence to the longevity and credibility of its guarantee.
Tax-free income offered by HDFC Life Sanchay Plus plan
The tax-free income offered by the HDFC Life Sanchay Plus plan is one of the benefits of this plan. It provides a regular return of 5.4% to 5.7% per annum. The income is tax-free as the plan qualifies as an insurance scheme. This plan is an excellent option for people looking for a stable income stream.
The HDFC Life Sanchay Plus plan offers guaranteed income for a specified period of time. The payout period of this plan is between twenty-five and thirty-five years. There are a few rider options available, which increase the benefits. You can check the brochures on the official website of HDFC to learn more about these plans.
Tax-free income is the highest benefit of this plan, but it comes with a few drawbacks. The premiums are high, but the returns are lower than a PPF. You may not receive as much income as you expect if you choose to withdraw from HDFC Life Sanchay Plus before the income period starts. In addition, the investment is locked until the income period begins. So, if you’re planning on withdrawing money early, make sure you don’t withdraw more money than you can afford to lose.
If you’re looking for a tax-free income stream, a HDFC Sanchay Plus plan could be the right choice for you. While this plan provides a tax-free income stream, its investment terms don’t protect you from inflation, which can decrease the value of your money over time.
Guaranteed maturity benefit
The HDFC Life Sanchay Plus policy offers guaranteed income at the maturity of the policy. The maximum policy term is 20 years with a minimum premium payment period of 10 years. The guaranteed maturity benefit amounts to the sum of the Guaranteed Sum Assured and the Guaranteed Addition, which differs from age to age.
Unlike other savings plans, the payout from HDFC Life Sanchay Plus is tax-free. This is unlike the interest you receive on Government bonds, which are taxed at marginal rates. Furthermore, the HDFC Life Sanchay Plus pays a fixed, committed interest rate for the policy’s tenure. If you’re concerned about your current situation, you could invest your money in a Government bond, which offers a guaranteed interest rate for a long period. However, the interest you earn on the bond will be taxed at marginal rates.
HDFC Life Sanchay Plus plan is a good option for those who want a guaranteed income plan. It offers an income stream for a period of 25-30 years, and even goes up to 99 years of age. It also provides tax benefits on premiums paid. Another benefit is that you can take out a loan against your HDFC Life Sanchay plan if you need to.
If you are under the age of 70 and want to purchase a plan with a guaranteed maturity benefit, you should make sure that you have paid your premiums. Otherwise, you’ll lose your money, and you’ll end up having to pay a large amount of interest, which is not something you want to happen.
Cash o0nus rates offered by plan
The cash bonus rates offered by HDFC Life Sanchay Par Advantage Plan are based on the Premium Payment Term. You can invest in this plan for a term up to eight years and you will receive regular income in the form of cash bonuses. In addition, at maturity, you will receive a lump sum. The Cash Bonus rates vary depending on your Age and Premium Payment Term.