HDFC Life’s Sampoorn Samridhi Insurance Plan is innovative but avoidable Moneylife Digital Team
HDFC Life has launched Sampoorn Samridhi Insurance Plan, a ‘with-profit’ traditional product. The key highlight of the product is that a customer can opt for any of the maturity benefit options—enhanced cash option (enhanced maturity amount at the end of the policy term) or enhanced cover option (additional sum assured, payable on death). The indicative premium (for a 30–year insured person, and a policy term of 10 years for sum assured of Rs2.5 lakh) is Rs30,653.
The ‘reversionary bonus’ is guaranteed to be at least equal to Rs30 per Rs1,000 of the sum assured, for all bonuses declared up to 31 March 2021. The other bonus (interim or terminal) is non-guaranteed. The Plan provides the flexibility in premium paying frequency—monthly, quarterly, half-yearly and annual as well as the option for deciding the term of the policy from 5 to 40 years. Customers whose sum assured is Rs5 lakh and above can avail a discount of 5% on the basic premium.
.jpg "MoneyLife")
