To secure the present and future, we set different goals for us and our family members. According to situations, we also make changes in these goals. As teenagers, we don’t think much about our long-term goals, but as we grow older, we become more and more conscious of our tomorrow and hence we start making plans.
To fulfil our dreams, many times, we take loans. However, with rising interest rates and the cost of borrowing, consumers face financial strain, especially those who have multiple running loans.
To avoid this “financial strain”, one good idea is to invest in a flexible and secure plan as soon as possible. Here, life insurance plans help! These policies taken early can provide access to liquidity to offset rising interest rates and improve financial health.
One such plan is HDFC Life’s Sanchay Par Advantage. It provides lifelong regular income and inbuilt whole life cover. The plan not only guarantees a minimum Rs 3 lakh sum assured on maturity but also provides tax savings of up to Rs 46,800 and a cash bonus from 1st policy year. The plan’s claim settlement ratio is 99.39 per cent, and it provides life coverage up to the age of 100! In other words, it secures the future of the policyholder.
Sanchay Par Advantage Plan gives payouts from 1st month. You can invest and get a tax-free cash bonus (if declared) from next month onwards till the policy matures. It also offers superior bonus rates. The policyholder can get a cash bonus (if declared) of up to 39.5% of the annualised premium paid by him/her. This helps to reduce the burden of not only EMIs but also family expenses, and medical emergencies.
Also, the policy offers “payout flexibility.” At any point during the policy term, the policyholder can withdraw the accrued cash bonuses (if declared)/Guaranteed Income partly/fully.
HDFC Life’s Sanchay Par Advantage policy offers a policyholder two options:
a) Immediate Income Option
A choice that gives regular income by way of cash bonuses (if declared), from 1st policy year and provides a lump sum at maturity. Hence, assures a secure future for your loved ones.
b) Deferred Income Option
A choice that provides guaranteed income for a guarantee period and also provides regular income by way of cash bonuses (if declared) throughout the policy term. This assures a secure future for your loved ones by providing a lump sum at maturity.
According to your needs, the person can choose between Immediate Income or Deferred Income options.
Sum assured:
Under the Sanchay Par Advantage plan, the minimum sum assured on maturity is Rs 3,00,000. The maximum sum assured on maturity has no limit. However, it is subject to the Board Approved Underwriting Policy (BAUP).
