Most of us are on pins and needles when we think of tomorrow. Parents especially breathe a sigh of relief in almost every step of their child’s crawl. It is a difficult journey for them, from squeezing their eyes shut when their toddlers receive myriad vaccines to thinking about securing their future. It is almost as if these parents grow along with their kids. One of their biggest learning curves along this journey is to secure a financially stable future for their kids while ensuring that their loved ones are protected against all odds. From thinking about how to fund their higher education to planning about their D-day, parents want to ensure that their children will not ideally have to worry about counting the pennies while chasing their dreams. They don’t want their children to lag or face any financial hardships that would otherwise stop them from excelling in their careers and their life.
Investing in HDFC Life Sanchay Plus can be your perfect mantra to this. An insurance-cum-investment plan, the policy guarantees an upfront return on investment. Depending on factors such as age, premium, and the premium payment term one selects, the policy promises a guaranteed payback at the end of the term. Key features of this policy include guaranteed benefits as either a lump sum or a regular income and assuring that your loved ones are covered and secure under any circumstance. To get started with this policy, one needs to follow these basic steps:
Plan Option - Guaranteed Income.
The amount of guaranteed income depends upon the premium paying term. For complete details refer to the HDFC Life Sanchay Plus product brochure.
1. Check The Eligibility Criteria
The policy offers this payback in four variants. These options include Guaranteed Maturity, Guaranteed Income, Life Long Income, and Long-Term Income. The amount of guaranteed income depends upon the premium paying term. Under all options, there is a range of minimum and maximum age for maturity and signing up for the policy. Their eligibility criteria also include a minimum and a maximum installment premium for all of the above options. For complete details refer to the HDFC Life Sanchay Plus product brochure.
2. Know The Key Benefits Of Different Policies
Each policy comes with a set of maturity benefits, death benefits, and guaranteed additions. These benefits will vary depending upon the policy that one has selected. Thus, one should read through these carefully, analyze their needs and invest in a given plan accordingly.
3. Make Contingency Plans To Top Your Savings Plan
In insurance, riders are an important part of contingency planning and are must-have additions to the savings plan. Under HDFC Life Sanchay Plus one can select three other riders. These include HDFC Life Income Benefit on Accidental Disability Rider, HDFC Life Critical Illness Plus Rider, HDFC Life Protect Plus Rider.
4. Customise Your Policy Plan
One can now customize their policy based on their understanding of which policy accurately meets their financial needs while securing the financial future of their loved ones. The first plan (Guaranteed Maturity) pays a lump sum at the end of the policy term. The second plan (Guaranteed Income) pays an annual income after the term for a certain number of years. The third option (Life Long Income) gives one an annual income for life (till the policyholder is 99 years). The last option (Long Term Income) offers annual payments for longer tenures of 25-30 years.
5. Still Uncertain? Speak To An Advisor
If you are still confused or uncertain about the right course? Be rest assured that an HDFC Life advisor is just a message away from helping you to make the right choices.
Securing your child’s future starts by taking those baby steps and researching prudent financial investment choices today.
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