Savings Plans
What is saving plans?
A savings plan is a financial tool aimed at helping investors grow their savings over a defined period. It may combine wealth accumulation with financial protection. With flexible premium payment options, investors can choose a suitable payment frequency. During the policy period, policyholders may receive a lump sum, periodic payments, or both, to meet their financial objectives. Additionally, savings plans often provide tax benefits and potential bonuses, subject to prevailing tax laws, further enhancing savings. These plans offer a well-rounded approach to efficiently building and safeguarding wealth.
Features of Savings Plans
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Dual Benefit: Savings + Insurance
Savings plans provide both wealth accumulation and life insurance coverage. This ensures that, in the event of an unfortunate death, the family receives a death benefit, while also allowing for savings growth.
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Guaranteed Returns
Many savings plans offer guaranteed maturity benefits, ensuring a lump sum payout at the end of the policy term, which helps achieve long-term financial goals.
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Riders for Enhanced Protection
Savings plans in life insurance often come with optional riders, such as critical illness, accidental death, or disability riders, to enhance the coverage and provide additional protection.
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Long-Term Financial Planning
Savings plans are designed for long-term savings, making them suitable for individuals aiming for financial goals such as children's education, marriage, or retirement planning.
Explore our Insurance Solutions
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Savings Plans
HDFC Life Sanchay Plus
UIN: 101N134V24
A Non-Linked, Non-Participating Savings Plan Designed to secure your family’s future and build a lasting legacy.
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- Guaranteed1 Income for a fixed term of 10, 12, 25, 30 years or lifelong.
- Tax benefits as per prevailing tax laws3.
- Return of total Premium(s) paid at the end of Payout Period2.
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Savings Plans
HDFC Life Click 2 Achieve
UIN: 101N186V05
A Non-Linked, Non-Participating Individual Savings Life Insurance Plan that allows you to adjust the benefits according to your needs.
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- Customize your plan with options like lump sum payouts, periodic income, or money-back benefits.
- Decide on the income amount that aligns with your requirements.
- Secure your child's future with a premium waiver to safeguard against life's uncertainties.
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Savings Plans
HDFC Life Guaranteed Wealth Plus
UIN: 101N165V10
An Individual Non-Linked, Non-Participating Savings Life Insurance Plan.
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- Choose to pay once or for a limited term and enjoy life insurance coverage throughout the entire policy duration.
- Receive guaranteed6 benefits as a lump sum, or opt for a combination of regular income and a lump sum payout.
- Enjoy guaranteed income4 during the payout term, along with 100% ROP5 at maturity.
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1. Provided all due premiums have been paid and the policy is in force.
2. Applicable for life long and long term income option.
3. Tax benefits are subject to provisions as per Income Tax Act, 1961. Tax laws are subject to changes.
4. This applies to Income Variant, whereby guaranteed income is paid on survival of Life Assured during the policy term, provided all due premiums are paid during the premium payment term.
5. ROP – Return of Premiums. This applies to Income variant, whereby all base premiums are returned to policyholder on survival of Life Assured at maturity, provided all due premiums are paid during the premium payment term.
6. Quantum of benefits is guaranteed irrespective of the experience.
7.Loyalty addition would be added to the fund starting from 10 Policy Anniversary for the other than ‘Single Premium’ policies paying Annualized Premium of ₹ 1,00,000 at least and for all the Single Premium paying policies.
8. As per Income Tax Act, 1961. Tax benefits are subject to changes in tax laws
9. Available under Level Cover with Capital Guarantee and Decreasing Cover with Capital Guarantee plan options.
10. With unlimited free Switching. Available under Level Cover and Decreasing Cover.
Frequently Asked Questions
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A savings plan in insurance is a policy that combines life coverage with a savings component, helping you accumulate funds for future needs, such as retirement or education.
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Creating a savings plan ensures financial stability, helps achieve goals, and provides a cushion for emergencies or unforeseen expenses.
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