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Knowledge Base Life Insurance Guaranteed Plan HDFC Sampoorn Samridhi Insurance Plan Review
Monday, 31 October 2011 15:09

HDFC Sampoorn Samridhi Insurance Plan Review

Written by  Yashish Dahiya
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HDFC Sampoorn Samridhi Insurance Plan Review 


Plan Name: Sampoorn Samridhi

Insurer: HDFC Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment


Major USP of HDFC Sampoorn Samridhi Plan 


Enhanced Cover Option available

Minimum Guaranteed bonus interest rate

Large Sum Assured Rebate


Eligibility of HDFC Sampoorn Samridhi Plan 


Minimum Entry Age: 18 Years

Maximum Entry Age: 60 Years

Maximum Age at Maturity: 75 Years

Policy Term: 5Years - 40 Years

Premium Payment Mode: Yearly, Half Yearly, Quarterly or Monthly


What benefits does HDFC Sampoorn Samridhi Plan offer? 


Death benefit:

In case of unfortunate death of the life insured, Sum Assured with bonus additions will be paid. In case of accidental death, additional Sum Assured is paid.

 

Maturity Benefit:

At the end of policy term, Sum Assured along bonuses will be paid.

If chosen for Enhanced Cover Option, additional Sum Assured is payable on death of life insured till 99 years of age.


Bonuses:

The bonus is guaranteed to be at least 3% till the end of financial year of 2021. This bonus will be regularly added to the policy after the policy acquires guaranteed surrender value. Other bonuses may also be added.


Discount:

If opted for Sum Assured equal and above INR 5 lacs, 5% rebate on basic premium will be made.

 

Are there any tax benefits?


Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.

Under Section 10(10D) death claim is completely tax free.


What else should I know about?


Surrender Value: The policy will acquire guaranteed surrender value after 3 annual premiums have been paid. The guaranteed surrender value will be equivalent to 50% of all premiums paid barring the first year premium.

 

Free Look Period: Sampoorn Samridhi can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

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