HDFC Life Sanchay Plan Review

HDFC Life Sanchay Plan is a guaranteed savings insurance plan, like many other typical insurance cum savings policies.

As per the plan, one can earn guaranteed return of around 8% to 9% after maturity of this policy. This is an endowment plan from HDFC life. At the end of policy term insurer will not get any bonus, but some guaranteed additional amount.

HDFC life has done a very good job with their click 2 protect term insurance plan. In this article we will review HDFC life Sanchay plan and also compare & find out whether there are any different between typical LIC endowment plans and this plan.

HDFC Life Sanchay Plan Key Features

  • Limited premium paying terms of 5, 8 and 10 years
  • Minimum age of entry is 30 days and max is 45 years
  • No maximum investment limit
  • One can pay premium Annual, Semi-Annual, Quarterly and Monthly (ECS)
  • Choose policy term from 15-20 years according to your need
  • Guaranteed addition of 8% to 9% at the end of maturity.
  • Total guaranteed benefit will be 220% to 325% of sum assured
  • EMI facility available for HDFC credit card holder
  • No medical test require for this plan
  • You can buy HDFC Life Sanchay Online.

HDFC Life Sanchay Plan Benefits

Death Benefit: In case of death nominee will get any of the highest value of 10 times annual premium paid, 105% of total premium paid + accrued guaranteed addition as death benefit

Maturity Value: At the end of the policy term policy holder will get sum assured + guaranteed addition as maturity benefit. This can be varied from 220% to 325% of sum assured which looks very impressive.

Income Tax Exemption: Get income tax benefit for the premium paid under section 80C and under 10(10D) for the maturity benefit

Riders: There is no rider facility in this HDFC Life Sanchay Plan

Policy Revival: You can revive the policy within 2 years of last premium paid, in case of stopped premium

Surrender Rules: To surrender HDFC Life Sanchay Plan you have to pay at-least 2 year premium for policy premium paying term 5-8 years. And 3 year for premium paying term more than 10 years.

Loan Facility: You can avail loan after your policy is eligible for Surrender

HDFC Life Sanchay Plan Premium & Return Calculation

We will consider the example explained in HDFC life brochure with beautiful graphical presentation. Let’s assume the below details of the insurer

Age: 35 years

Premium : 1,23,125.00

Premium Paying Term: 5 year

Policy term : 15 years

Sum assured: 5,00,000

Now as per HDFC life Sanchay plan he will get Rs 11,00,000 after 15 years on maturity. Now lets check in detail further.

Amount spend from you in 5 year = 1,23,125 X 5 = 6,15,625.00. This figure is excluding the service tax which insurer has to bear as per new IRDA law.

You can visit to HDFC life website and use their HDFC Life Sanchay Calculator to check your desired premium amount.

Should I Buy HDFC Life Sanchay Plan

So, in 5 years you are investing more than 6 lacks and after 15 years you will get 11 lakh. This looks good for people who don’t want to take much risk investment and happy to get a decent return over the period of time. But how this return will fight with inflation in coming years?

But if you want to invest smartly, you can avail much more benefit from this investment and find out many alternatives of such endowment policies.

Let’s say, if you a enough life insurance with any online term plan and then invest rest of the amount via mutual fund way then you will get more benefit for next 15 years period. Do a thorough calculation and read the HDFC Life Sanchay Brochure carefully before buying this policy.

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  1. ***Do not take any policy from the agents who are calling you every day..Go to the bank or post office directly and take the policy***

  2. Hi,

    These people are fraud and they have done same thing with me..They told me the benefits with medical insurance and 50% commission also petro card which was not given and they are not picking up the phone..S.B. Insurance Brokers Pvt. Ltd. , Address : D 2 Sector 3 Noida Noida Uttar Pradesh,
    Code : 00634272, License No : 230
    There is 1 agent Arun Aggarwal .: 9711926287 who is fraud need to put him in jail for the fraud which he is doing with the people…

  3. Hi,
    HDFC running strategy like they are advertising policies with extra benefits by their registered Agents.
    One of the Agent is:
    S.B. Insurance Brokers Pvt. Ltd. , Address : D 2 Sector 3 Noida Noida Uttar Pradesh,
    Code : 00634272, License No : 230
    These guys explain the policy with Extra Benefits.
    • 40% cashback,
    • Mediclaim of 3 lack for 15 years.
    • Amount can be withdrawn in 6th year after investing a fixed amount for 5 years.
    I have purchased a HDFC Life Sanchay Plan from these creepy people and got nothing as benefit.,
    When I contacted HDFC for the same, and explained the issue, they denied to provide any help regarding this. This is the reply I have received.
    This is with reference to your concern raised towards the aforesaid policy.

    We have done a detailed investigation of the facts presented by you and wish to share the following:
    • We would like to inform you that the policy was issued post the documents and consent received from the policy holder to issue the policy.
    • As we have not received your cancellation request within the free-look period, we wish to inform you that we are unable to process a refund of premiums paid towards this policy. The provision is also mentioned under ‘Option to Return/withdraw’/’Cancellation in the Free Look Period’ section of your policy document.
    Based on the above facts and findings, we are unable to treat this as missale.

    I have received call from 120-330-5000 from Noida and they claimed that they are calling me from Mayur Vihar HDFC bank.
    Two people contacted me to take me in confidence, There name is not real:
    1. Harshita : 9069474517
    2. Arun Aggarwal .: 9711926287
    But, on my insurance documents, Name mentioned is Sonia Nagpal from S.B.Insurance Brokers Pvt.Ltd.

    Guys never take any service from outsiders banks as they are just running lot of scam to steal money from innocent people. Govt. is involved with these market stack holders and cannot help in any way. They are taking the advantage of technology and rolling people with false commitments.

  4. Better to invest nsc or even also kvp gives better return . Simple calulation is if you invest 123000 in kvp in 2016 you will getting double amount in 2025. Like you invest same amount every year you will getting double amount in next 5 years. So as per calculation you will getting approximately 1200000 or more in 15 years.

  5. If you do the simple maths, it means that you will be getting interest at a rate of 5 % Tax free only. Thats it !!
    Eg their policy eg shows that if you pay annually 123120 for 5 yrs, at the end of 15 yrs you will receive Rs. 11,00,000. Thats at 5 %. Even a debt MF will give you safely at 7-8 %, that means about 1.5-2 Lac more
    Not a good plan at all ! Its nothing more than a FD !

    1. You are right. These plans are kind of FD scheme only. Better to go with post office scheme in case not comfortable with mutual fund or stock investments.

  6. The advised what i have received from at the time taking the policy is totally fake.
    making people fool in the name of investment is totally wrong.
    useless policy as their is no benefit as the people has to wait for 15 years for doubling the funds.

      1. thanks for advising,

        But surrendering the policy means you have to paid premium for two years & they will provide you the 30% of the your premium value.

        1. Hello Santanu ji ,

          Sir HDFC Sanchay plan kesa hai
          mujhe hdfc life se call aaya tha ki 32000/- per year investment kijiye five year me 252538/- garnted return and 5 member Medical Card 100000/- annual all hospital cash less ,

          please guide this plan

  7. dear sir,
    i am mathavan.i am in confusion of where should i investment the money or insurance or gold or real estate or ppf.but tax benefit is mandatory.according to my question pls give your answer….

  8. Hi,

    I have recently opted for this plan. Executive had guided me in vague way …this people sucks

    Premium – 50K Yearly
    Term of payment – 5 Years
    Sum assured – 212000
    Guaranteed Return : 448000

    At the maturity i will get only 448000 after investing my money for 15 years. It is not a good option than to go for it.

  9. Sir I have started a HDFC Life sanchay plan in the month of Dec 2014. But presently I want to surrender it what I have to do. And is there any surrender value paid by the HDFC Life.

  10. I have subscribed to HDFC Sanchay and paid one premium of 1 Lac and after reading your post understand that it was not a smart move.( I have other insurance coverage for my self)
    I have till date not received the original documents and just got the message that the doc are on some Karvy vault with giving any user id password etc. technically I have not acknowledged the policy .

    My next premium is due Aug 6, what do you suggest my options are.


  11. I have been a customer with HDFC Bank from past 7 yrs , Been to the branch just to start a recurring deposit a/c . but was misguided by the insurance agent and so called manager , these people don’t have any knowledge about the product they are selling and when I was suppose to give the renewal they said that I will have to continue it for 15 yrs , Cut the crap you dumb f***ing people . when i bought the plan the person said that in 5 yrs you can withdraw the premium amnt and will get the interest value on the basis of the amount i have invested , Cut the crap . You guys suckz to the core . and now one more info as per the banker that if i’ll not continue the premium the first on for 40k will not be refunded . I and now im stuck will have to pay for it .

    1. Thanks for sharing this information about HDFC Life Sanchay Plan. I think this will be helpful for all the readers and people will ask this basic questions and also read the documents carefully before buying this policy.

  12. As per the Agent the plan is as given below for jeevan sanchay:
    Annual premium 30,000
    Insurance: 3,00,000 for 15 years.
    Sum assured: 1,50,000
    Medical benefit: 1,00,000 for only 1 day.
    Amount returned after 5 year: 2,35,538

    Benefits: 1010D and 80C

    The policy term is 15 years and pay term is 5 years. But as per them the amount can be taken back after “5th year and 1 day” [without any surrender charges] and then the medical and insurance will carry on.

    Can you confirm if this is right as after 5 year even FD is not yielding this amount with tax benefit in place.


  13. Sir
    I want to tell you no insurance company endowment plan provide return more than 8 % so please correct your knowledge and don’t misguide the customer

    1. Hi Yogesh,

      I am not here to misguide anyone. These are the words taken from HDFC plan brochure only. I think anyone who has little knowledge of such plans know that how much return in actual is possible.

      Anyway thanks for your comment.:)

  14. Thanks for your valuable review santanu.

    My take on the plan is that its only a savings plan with addition benefit of life insurance and suitable for those who are looking for guaranteed saving option without taking much risk.

    Guaranteed Returns
    Paid-up option
    Limited Premium Payment Term


    1. Hi Chandra,

      You have provided a very simple & short, but effective review of this policy. Thanks for sharing your view HDFC Life Sanchay Plan.

      I believe, our insurance segment is getting populated with these kind of products which neither give enough life cover or not give significant return on investment.

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