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HDFC Life Sampoorn Nivesh

Established as a joint venture between Housing Development Finance Corporation Ltd. (HDFC) and Standard Life Aberdeen, HDFC Life is a global investment company and one of the leading life insurance providers, offering individual and group insurance. HDFC Life has about 414 branches and presence in 980+ cities and towns in India. The company has also established a liaison office in Dubai.

HDFC Life Sampoorn Nivesh is a Unit Linked Insurance Product which offers insurance and investment under the same plan with multiple fund options, so as to help you optimize your investment. Under this plan, you have the flexibility to choose your investment term from 10 to 25 years along with the option to customize your premium payment - Single, Regular and Limited.

Note: All information has been sourced from the official website of the company

Features of HDFC Life Sampoorn Nivesh Plan

The key features of this plan are:

  • Flexibility to choose your investment term
  • Option to customize your premium payment options - Single, Limited or Regular
  • Choice of 3 Benefit Options
  • Option of Accidental Death Benefit through Extra Life Option
  • Loyalty Additions to enhance your fund value
  • Reduced premium allocation charge on investing higher premium amount
  • Choose from a range of 8 fund options

Benefits of HDFC Life Sampoorn Nivesh Plan

The key benefits of this plan are:

Maturity Benefit

The maturity benefit payable will be your fund value. The policyholder can receive the fund value in periodic installments.

Death Benefit

Classic Benefit - Under this option, the benefit amount will be the highest of:

  • Sum Assured less all partial withdrawals
  • Fund Value
  • 105% of the premium(s) paid

Classic Plus Benefit - In case of the Life Assured's unfortunate demise, the company will pay the nominee the higher of the following:

  • Sum Assured plus Fund value
  • 105% of the premium(s) paid

Classic Waiver Benefit - In case of the Life Assured's unfortunate demise, the company will pay to the nominee the higher of the following:

  • Sum Assured
  • 105% of the premium(s) paid

In addition, on each future premium due date(s), an amount equal to the modal premium shall be credited to the Policyholder's Fund Value after deduction of applicable charges.

Accidental Death Benefit

In case of death due to accident during the term of the policy, an Additional Benefit equal to Sum Assured is paid to the nominee in addition to the Death Benefit payable under the Death Benefit of the plan option.

Eligibility Details

Benefit OptionMinimum Age at Entry
Classic Benefit (Life Option)0 years (30 days)
Classic Benefit (Extra Life Option)18 years
Classic Plus Benefit0 years (30 days)
Classic Waiver Benefit18 years
Benefit OptionMaximum Age at EntryMaximum Age at Entry
5 PayOther than 5 Pay
Classic Benefit (Life Option54 years60 years
Classic Benefit (Extra Life Option)53 years58 years
Classic Plus Benefit48 years58 years
47 years58 years
Benefit OptionMinimum Age at Maturity
Classic Benefit (Life Option)18 years
Classic Benefit (Life Option)28 years
Classic Plus Benefit18 years
Classic Waiver Benefit28 years
Benefit OptionMaximum Age at MaturityMaximum Age at Maturity
5 PayOther than 5 Pay
Classic Benefit (Life Option)64 years70 years
Classic Benefit (Extra Life Option)63 years68 years
Classic Plus Benefit58 years60 years
Classic Waiver Benefit57 years60 years

Policy Details

ParametersMinimumMaximum

Single: Rs. 24,000 Annual: Rs. 24,000 Half-yearly: Rs. 12,000
Quarterly: Rs. 6,000
Monthly: Rs. 2,000
No limit
Sum Assured Single PremiumEntry Age less than 45 years125% of Single Premium125% of Single Premium
Entry Age equal to 45 years and above110% of Single Premium110% of Single Premium
Sum Assured Entry Age less than Higher of 10 x Higher of 10 x
Regular & Limited Premium45 yearsannualized premium or 0.5 x policy term x annualized premium annualized premium or 0.5 x policy term x annualized premium
Entry Age equal to 45 years and aboveHigher of 7 x annualized premium or 0.25 x policy term x annualized premium10 x annualized premium
Policy Term 10, 15 to 25 years
Premium Payment Term
Single
Limited: 5, 7 and 10 years
Regular: 10, 15 to 25 years

Other Benefits of HDFC Life Sampoorn Nivesh

Loyalty Additions - Loyalty Additions (as a percentage of the average fund value) will be added to the fund value every alternate year, starting from the end of 11th policy year for limited and regular premium payment policies.

Tax Benefit under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

Documents Required to buy HDFC Life Sampoorn Nivesh

  • Application/Proposal Form
  • KYC - Proof of ID and Address
  • Income Proof - Bank Account Statement
  • Medical Check-up/Report if required.
  • Bank Transaction Mandate Form

Exclusions

  • Suicide - In case of death due to suicide within 12 months from the date of inception of the policy or from the date of the revival of the policy, the nominee or beneficiary of the policyholder shall be entitled to the fund value, as available on the date of death.
  • Intentionally self-inflicted injury or suicide, irrespective of mental condition.
  • Alcohol or solvent abuse, or the taking of drugs except under the direction of a registered medical practitioner.
  • Taking part or practicing in any hazardous hobby or pursuit or race. War, invasion, hostilities (whether war is declared or not), civil war, rebellion, revolution or taking part in a riot or civil commotion.
  • Taking part in any flying activity, other than as a passenger in a commercially licensed aircraft.
  • Taking part in any act of a criminal nature with criminal intent.

FAQs on Hdfc Life Sampoorn Nivesh

How do I make a claim?

In order to make a claim, visit the official website of HDFC Life at lifeeasy.hdfclife.com/claims/submit. Submit the policy number, DOB and registered mobile number. Next, submit the life assured and nominee’s details. Post submission, an executive will call back and handle all the documentation and details. You can also visit the branch or email HDFC Life at contact.hdfclife@paramounttpa.com.

What if I am not satisfied with the terms and conditions of the HDFC Life Sampoorn Nivesh plan?

If you are not satisfied with the terms and conditions of the HDFC Life Sampoorn Nivesh plan, you can simply return the plan to the insurer within the Free-Look period. This plan has a Free-look period of 15 days from the date of receipt of the policy and 30 days for policy purchased through distance marketing.

Can I avail a loan against the HDFC Life Sampoorn Nivesh plan?

No, this plan does not a loan facility.

Is service tax applicable to the HDFC Life Sampoorn Nivesh plan?

Yes, GST is applicable on premiums paid for HDFC Life Sampoorn Nivesh Plan.

What is the charge for partial withdrawal?

There are 4 free partial withdrawals in each policy year. Subsequent partial withdrawals, if any, will attract a charge of Rs. 250 per request or a reduced charge of Rs. 25 per request, if executed.

What is the charge associated with a switch?

There are 4 free switches in each policy year. Subsequent switches, if any, will attract a charge of Rs. 250 per request or a reduced charge of Rs. 25 per request if executed through the company's web portal.

What is the charge for a premium redirection?

There are 4 free premium redirections in each policy year. Subsequent switches, if any, will attract a charge of Rs. 250 per request or a reduced charge of Rs. 25 per request, if executed through the company's web portal.

Are there any miscellaneous charges to be aware of?

Any policy alteration request initiated by the policyholder will attract a charge of Rs. 250 per request.

Is there a charge for amounts in the Discontinued Policy Fund?

This charge depends on year of discontinuance and your annualised premium for limited and regular premium policies. There is no charge from the 5th policy year.