HDFC Life Sampoorn Nivesh Plan Review (2024): Good or Bad?

We all have Financial Dreams we want to achieve within a certain Time Frame.

But do we have appropriate investments to achieve them?

HDFC Life offers an Insurance cum Investment plan with multiple fund options to optimize your investment.The brochure of HDFC Life Sampoorn Nivesh Plan promises a lot of things, but only a comprehensive and systematic review will give insight into the good and bad aspects of this plan.

In this article let us find out whether the HDFC Life Sampoorn Nivesh Plan will meet your expectation in maximizing your Investment & protects your family financially in your unfortunate absence.

Table of Contents:

1.)What is HDFC Life Sampoorn Nivesh Plan?
2.)Features of the HDFC Life Sampoorn Nivesh Plan
3.)Benefit Options of the HDFC Life Sampoorn Nivesh Plan
4.)Review of Eligibility Criteria – HDFC Life Sampoorn Nivesh Plan
5.)Review of Benefits – HDFC Life Sampoorn Nivesh Plan

• Maturity Benefit
• Death Benefit
• Partial Withdrawals

6.)Review of Fund Options – HDFC Life Sampoorn Nivesh Plan
7.)Review of Charges levied – HDFC Life Sampoorn Nivesh Plan
8.)The Grace Period, Discontinuance & Revival of the HDFC Life Sampoorn Nivesh Plan – Good or Bad?
9.)Free Look Period – HDFC Life Sampoorn Nivesh Plan
10.)Surrendering the HDFC Life Sampoorn Nivesh Plan – Analysis
11.)Advantages of the HDFC Life Sampoorn Nivesh Plan – Analysis
12.)Disadvantages of the HDFC Life Sampoorn Nivesh Plan – Analysis
13.) Research Methodology
14.) IRR(Internal Rate of Return) Analysis of the HDFC Life Sampoorn Nivesh Plan. Good or Bad?
15.)HDFC Life Sampoorn Nivesh Plan Vs Other Investment Plans- Review

• HDFC Life Sampoorn Nivesh Plan Vs. Pure Term Insurance + PPF / ELSS
• HDFC Life Sampoorn Nivesh Plan Vs. HDFC Life Super Income Plan Review
• HDFC Life Sampoorn Nivesh Plan Vs. HDFC Life Sanchay Plus
• HDFC Life Sampoorn Nivesh Plan Vs. HDFC Life Smart Protect Plan

16.)HDFC Life Sampoorn Nivesh Plan Good or Bad Compared to Other Investment Plans? Review Conclusion
17.)Final Verdict on the HDFC Life Sampoorn Nivesh Plan – Good or Bad Investment Option?

What is HDFC Life Sampoorn Nivesh Plan?

It is a Unit Linked, Non-Participating, Life Insurance Plan.

There are three plan options where the death benefit differs based on the plan chosen by the policyholder.

It also offers flexibility in choosing the Premium Payment Term at your convenience.

Features of the HDFC Life Sampoorn Nivesh Plan – Analysis

• Premium payment can be customized as – Single, Limited, or Regular.
• Flexibility to choose your Investment Term from 10 to 35 years for Single Pay and 85 minus Age at Entry for Limited/ Regular Pay options.
• Choice of 3 Benefit Options to suit your requirement & also there is an Optional Accidental Benefit available.
• Loyalty Additions to enhance your fund value after 10 years.
• Choose from a range of 10 fund options.
• Reduced premium allocation charge for the higher premium amount.

Review of Benefit Options – HDFC Life Sampoorn Nivesh Plan

You can opt for any of the 3 Benefit Options available in the HDFC Life Sampoorn Nivesh Plan. The benefit is paid to the nominee in case of the unfortunate death of Life Assured during the policy term. This option has to be chosen at the inception only.

Benefit option	Death benefit
Classic Benefit Option (Life option)	Higher of Sum Assured OR Fund Value
1.1 Classic Benefit (Extra Life Option)	Higher of (Sum Assured OR Fund Value) PLUS Accidental Death Benefit
2.Classic Plus Benefit	Sum Assured AND Fund Value
3.Classic Waiver Benefit	Sum Assured PLUS Waiver of an amount equal to the modal premium

Review of Eligibility Criteria – HDFC Life Sampoorn Nivesh Plan

Let us look at some of the basic requirements to enter this plan at a glance below;

PARAMETERS		MINIMUM	MAXIMUM
Premiums		Single: 12,000	No limit
		Annual: 12,000
		Half-yearly: 6,000
		Quarterly: 3,000
		Monthly: 1,000
Sum Assured – Single Premium	Entry Age less than 45 years	1.25 times the Single Premium	4 times the Single Premium
	Entry Age equal to 45 years and above	1.25 times the Single Premium	4 times the Single Premium
Sum Assured –Regular & Limited Premium	Entry Age less than 45 years	Higher of 10 x annualized premium or 0.5 x policy term x annualized premium	Higher of 40 x annualized premium or 0.5 x policy term x annualized premium
	Entry Age equal to 45 years and above	Higher of 7 x annualized premium or 0.25 x policy term x annualized premium	40 x annualized premium
Policy Term		10, 15 to 35 years for Single Pay
		85 minus Age at Entry for Limited/ Regular Pay
Premium Payment Term		Single
		Limited: 5 to 10, 12, 15, and 20 years
		Regular

BENEFIT OPTION	MINIMUM AGE AT ENTRY	MAXIMUM AGE AT ENTRY		MINIMUM AGE AT MATURITY	MAXIMUM AGE AT MATURITY
		5 pay option	Other than 5 pay option		5 pay option	Other than 5 pay option
Classic Benefit Option (Life option)	0 years (30 days)	56 years	65 years	18 years	85 years	85 years
Classic Bene (Extra Life Option)	18 years	53 years	58 years	28 years	63 years	68 years
Classic Plus Benefit	0 years (30 days)	48 years	50 years	18 years	58 years	60 years
Classic Waiver Benefit	18 years	49 years	52 years	28 years	69 years	85 years

Review of Benefits – HDFC Life Sampoorn Nivesh Plan

Maturity Benefit:

The policy matures at the end of the chosen policy term and all your risk cover ceases. You may redeem your balance amount at the then prevailing price of the unit and take the fund value. You can also take your fund value at maturity in periodical installments.

Death Benefit:

1. Classic Benefit:

In case of Life Assured’s unfortunate demise, the nominee will receive the highest of the following:

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

Classic Benefit (Extra Life Option)

Along with the Death benefit, as stated in the classic benefit, an additional Accidental death benefit equal to the sum assured is payable (provided death by or due to a bodily injury caused by an Accident).

2. Classic Plus Benefit:

In case of Life Assured’s unfortunate demise, we will pay the nominee the higher of the following:

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

3. Classic Waiver Benefit:

In case of Life Assured’s unfortunate demise, we will pay the nominee the higher of the following:

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

In addition, on each future premium due date(s) a percentage of the original modal premium shall be credited to the policyholder’s Fund Value after the deduction of applicable charges. The policy will continue with no risk cover and the fund value will be payable on maturity.

Partial Withdrawals:

Lump sum partial withdrawals from your funds are allowed after the completion of the 5 policy years.

Review of Fund Options – HDFC Life Sampoorn Nivesh Plan

Are the different options good or bad?

You have an option of 10 different funds to invest money so that you can manage your funds actively as per your requirement. Each fund has its asset allocation structure.

Equity-based funds invest in stock markets while debt-based funds invest in safe and liquid instruments like bonds and government securities to get secured income.

You can decide your allocation ratio between these funds and also switch between funds using the fund switch option at any time according to the Fund Performance during the policy term.

FUND OPTION	ASSET ALLOCATION			RISK
	Money Market, cash & deposits	Govt Sec, Fixed Income, Bonds	Equity
Equity Plus Fund	0-20%	0-20%	80-100%	Very High
Diversified Equity Fund	0-40%	0-40%	60-100%	Very High
Blue Chip Fund	0-20%	–	80-100%	Very High
Opportunities Fund	0-20%	–	80-100%	Very High
Balanced Fund	0-20%	0-60%	40-80%	Moderate to High
Income Fund	0-20%	80-100%	–	Moderate to High
Bond Fund	0-60%	40-100%	–	Moderate
Conservative Fund	0-60%	40-100%	–	Low
Discovery Fund	0-10%	0-10%	90-100%	Very High
Equity Advantage Fund	0-20%	0-20%	80-100%	Very High

The risk level of different fund options is calculated in the above illustration. The equity advantage fund seems to be of very high risk according to the above calculation.

Review of Charges levied – HDFC Life Sampoorn Nivesh Plan

Premium Allocation Charge:

It depends on the premium amount & mode of payment. In the initial years, the percentage of premium allocation charges will be higher. From the 6^th year onwards, the percentage is constant throughout the policy term. It ranges between 1% & 9%.

Fund Management Charge (FMC):

Fund management charge of only 1.35 % per annum charged daily, of the fund’s value.

Policy Administration Charge:

The policy administration charge is subject to a cap of Rs. 500 per month.

Year	Single Premium Payment	Regular/Limited Premium Payment
1 to 5	0.12% of a Single Premium per month	Nil
6 and above	0.07% of Single Premium per month increasing to 5% per annum on each Policy Anniversary	0.35% per month of the annualized premium increasing at 5% per annum on each Policy Anniversary

Mortality Charge & other risk-benefit charges:

The mortality charge and other risk-benefit charges are charged for the entire duration of the policy term. The amount of the charge taken each month depends on your age and level of coverage.

Miscellaneous Charge(s):

Charged for any Policy alteration request initiated by the Policyholder will attract a charge of Rs 250 per request.

Discontinuance Charge:

This charge depends on the year of discontinuance and your premium. There is no charge after the 5th policy year.

Partial withdrawal charge:

There are 4 free partial withdrawals in each policy year. Subsequent partial withdrawal will attract a charge of Rs 250 per request. If requested through the company’s portal the Policyholder will be charged Rs 25 per request.

Switching charge:

There are 4 free switches in each policy year. Subsequent fund switch requests will attract a charge of Rs 250 per request. If requested through the company’s portal the Policyholder will be charged Rs 25 per request.

Premium Redirection:

There are 4 free premium redirections in each policy year. Subsequent premium redirection requests will attract a charge of Rs 250 per request. If requested through the company’s portal the Policyholder will be charged Rs 25 per request.

The Grace Period, Discontinuance & Revival of the HDFC Life Sampoorn Nivesh Plan – Good or Bad?

Grace period:

This plan has a grace period of 15 days for monthly mode and 30 days for other modes of payment.

Discontinuance:

Discontinuance of Policy during the lock-in-Period (5 years) –

For other than single premium policies, the fund value after deducting the applicable discontinuance charges shall be credited to the discontinued policy fund, and the risk cover and rider cover, if any, shall cease.

Discontinuance of Policy after the lock-in-Period (5 years) –

The policy shall be converted into a reduced paid-up policy with the paid-up sum assured i.e., the original sum assured multiplied by the total number of premiums paid to the original number of premiums payable as per the terms and conditions of the policy.

Revival:

You have the option to revive a discontinued policy within three consecutive years from the date of the first unpaid premium.

Free Look Period – HDFC Life Sampoorn Nivesh Plan

In case you disagree with any of the terms or conditions of the HDFC Life Sampoorn Nivesh Plan, you have the option of returning the policy to the corporation within 15 days from the date of receipt of the policy. The Free-Look period for policies purchased through distance marketing will be extended up to 30 days.

Surrendering the HDFC Life Sampoorn Nivesh Plan – Analysis

In the case of Single premium policies, the policyholder has the option to surrender at any time during the lock-in period. Upon receipt of the request for surrender, the fund value, after deducting the applicable discontinuance charges, shall be credited to the discontinued policy fund. On completion of the lock-in period (5 years), the fund value as of date shall be payable.

In case of other than single premium policies –

Surrender of the policy before the lock-in period – The policy shall continue to be invested in the discontinued policy fund and the proceeds from the discontinuance fund shall be paid at the end of the lock-in period (5 years)

Surrender of the policy after the lock-in period – The policyholder has the option to surrender the policy at any time after the lock-in period. Upon receipt of the request for surrender, the fund value as of the date of surrender shall be payable.

Advantages of the HDFC Life Sampoorn Nivesh Plan – Analysis

• The Policyholder can avail of the settlement option for maturity benefit with periodical installments over a settlement period which may extend up to a maximum of 5 years.
• Rider options – HDFC Life Income Benefit on Accident Disability Rider, HDFC Life Critical Illness Plus Rider, and HDFC Life Protect Plus Rider can be availed to enhance your base policy cover.
• Partial withdrawal is allowed after the lock-in period of 5 years.
• Under the Classic plus Benefit option, there is an option to receive both the Sum Assured & the fund value in case of death.
• Accidental death benefit which is equal to the sum assured can be added to the Classic benefit option.
• Under the Classic waiver benefit, even after the death of the policyholder, the policy continues without any premium payment. And the fund value is payable on maturity.
• There are 4 free – Partial withdrawals, Premium redirection & switching allowed in a policy year.

Disadvantages of the HDFC Life Sampoorn Nivesh Plan – Analysis

• There is a lock-in period of 5 years for surrendering & partial withdrawal.
• There is no loan facility in this policy.
• The premium is routed to investment after the deduction of various charges. Some of the charges like discontinuance charges, Miscellaneous charges, etc. are exclusive to ULIP products. This will affect the yield in the long run.
• There is no bonus addition to the fund value. Loyalty addition starts only after the completion of 10 policy years.

For further details, you can read the HDFC Life Sampoorn Nivesh Policy Brochure.

Research Methodology

ULIP involves the active management of funds. So, actively managed investment should yield better returns than fixed-income instruments.

The Internal rate of return is the best way to find out the profitability of the investment. Using the premium calculator in the HDFC portal, let us try to work out the IRR for the HDFC Life Sampoorn Nivesh Plan.

IRR(Internal Rate of Return) Analysis of the HDFC Life Sampoorn Nivesh Plan. Good or Bad?

Male	35 years
Policy term	15 years
Premium Paying term	15 years
Sum Assured	15,00,000
Annualized premium	1,50,000

There are various plan options under HDFC Life Sampoorn Nivesh Plan, so let us keep the above metrics common for all the options.

The following table shows the maturity value at the end of 15 years & IRR for each scenario.

	Classic Benefit Option (Life option)		Classic Bene (Extra Life Option)		Classic Plus Benefit		Classic Waiver Benefit
	4%	8%	4%	8%	4%	8%	4%	8%
Maturity Value	26,03,923	36,20,267	25,78,963	35,86,317	25,27,617	35,23,870	24,68,689	34,46,252
IRR	1.80%	5.74%	1.69%	5.63%	1.44%	5.43%	1.15%	5.16%

The maturity value and IRR are calculated in the above illustration.

If each year an annual premium of Rs. 1.5 lakh is paid for 15 years, you get a maturity value under the Classic Benefit Option which is Rs 26.03 lakhs at the rate of 4% in the worst-case scenario or Rs.36.20 lakhs at the rate of 8% in the best-case scenario. Similarly, all benefit options can be read.

The rates of 4% & 8% are assumed rates of returns & are not guaranteed. They are not the upper or lower limits of what you might get back, as the value of the policy is dependent on several factors including your future investment performance.

The IRR(Internal Rate of Return) under various scenarios hovers around 1.1% & 5.7%.

These rates are equal to the fixed income rate of returns. HDFC Life Sampoorn Nivesh involves active management of investment but the return is similar to any fixed instrument return which does not compensate for the risk the policyholder has taken by investing in this ULIP.

HDFC Life Sampoorn Nivesh Plan Vs Other Investment Plans- Review

Any investor whether a newbie or a seasoned investor will never stop in their quest for better-yielding returns. Comparing the return of HDFC Life Sampoorn Nivesh Plan with other investment options will give us a clear picture of which is a better alternative.

The same values as in the benefit illustration are assumed below to be invested in a Pure Term Insurance Policy for life cover & separate investment for corpus accumulation.

• HDFC Life Sampoorn Nivesh Plan Vs. Pure Term Insurance + PPF / ELSS – Review

Pure Term Insurance for a life cover of Rs. 15 lakhs for a premium paying term of 15 years will cost Rs.7100 of the annual premium. Out of the total amount of Rs 1.5 lakhs, the balance amount of Rs. 1,42,900 is invested in PPF / ELSS.

You can pick an investment choice based on your risk profile & time horizon of your financial goals. Here both high-risk investment (ELSS) & low-risk option (PPF) are considered for a better understanding of your choices.

		Term Insurance + PPF		Term insurance + ELSS
Age	Year	Term Insurance premium + PPF	Death benefit	Term Insurance premium + ELSS	Death benefit
35	1	-1,50,000	15,00,000	-1,50,000	15,00,000
36	2	-1,50,000	15,00,000	-1,50,000	15,00,000
37	3	-1,50,000	15,00,000	-1,50,000	15,00,000
38	4	-1,50,000	15,00,000	-1,50,000	15,00,000
39	5	-1,50,000	15,00,000	-1,50,000	15,00,000
40	6	-1,50,000	15,00,000	-1,50,000	15,00,000
41	7	-1,50,000	15,00,000	-1,50,000	15,00,000
42	8	-1,50,000	15,00,000	-1,50,000	15,00,000
43	9	-1,50,000	15,00,000	-1,50,000	15,00,000
44	10	-1,50,000	15,00,000	-1,50,000	15,00,000
45	11	-1,50,000	15,00,000	-1,50,000	15,00,000
46	12	-1,50,000	15,00,000	-1,50,000	15,00,000
47	13	-1,50,000	15,00,000	-1,50,000	15,00,000
48	14	-1,50,000	15,00,000	-1,50,000	15,00,000
49	15	-1,50,000	15,00,000	-1,50,000	15,00,000
50	16	38,75,647	15,00,000	55,94,239	15,00,000
	IRR	6.54%		10.73%

From the above illustration, we have calculated the IRR of the Term Insurance premium + PPF at 6.54% and the IRR of the Term Insurance premium + ELSS at 10.73%.

After 15 years the maturity value in PPF is Rs. 38.75 lakhs & in ELSS is Rs. 55.94 lakhs. The IRR for PPF & ELSS is 6.54% & 10.73% respectively.

We have better yield when we split the life insurance cover & Investment option. In HDFC Sampoorn Nivesh Plan, your hands are tied in the initial 5 years & also the potential investment return is below average for actively managed funds.

Expert analysis of aspects like fund value, fund performance, benefits, and calculated returns.

A comprehensive review of the advantages and disadvantages with various illustrations along with voice-over to give you a clear-cut understanding.

HDFC Life Sampoorn Nivesh Plan(एचडीएफसी लाइफ संपूर्ण निवेश) Review (2023): Good or Bad? (हिंदी) Hindi.

• HDFC Life Sampoorn Nivesh Plan Vs. HDFC Life Super Income Plan Review

This HDFC Life Super Income Plan is marketed as a limited-pay money-back insurance plan, is this really true?

HDFC Life Super Income Plan brochure(pdf)

Please check out our review below to know more, our review will help you to compare the returns of both plans.

HDFC Life Super Income Plan Review: Should you buy or not

• HDFC Life Sampoorn Nivesh Plan Vs. HDFC Life Sanchay Plus

HDFC Life Sanchay Plus is not a ULIP plan like HDFC Life Sampoorn Nivesh. But it has four different options to choose from.

HDFC Life Sanchay Plus also provides loyalty additions after 10 years to improve your fund value.

HDFC Life Sanchay Plus brochure(pdf)

Read the complete review below for an overall better perspective of this plan.

HDFC Life Sanchay Plus: Review-Should You Buy It?

• HDFC Life Sampoorn Nivesh Plan Vs. HDFC Life Smart Protect Plan

You can choose between five different fund options according to fund performance in HDFC Life Smart Protect Plan.

HDFC Life Smart Protect Plan brochure(pdf)

Read the complete review of the HDFC Life Smart Protect Plan with IRR analysis, illustrations, and calculations that would help you evaluate this plan better.

HDFC Life Smart Protect Plan Review: Should You Invest?

HDFC Life Sampoorn Nivesh Plan Good or Bad Compared to Other Investment Plans? Review Conclusion

As we have analyzed the alternative investment options for HDFC Life Sampoorn Nivesh Plan, it seems very clear that Term Insurance + PPF or ELSS seem to be far better options.

Isn’t it surprising? But this is the truth with most of the new policies in the bazaar, old wine is marketed in new bottles!

Final Verdict on the HDFC Life Sampoorn Nivesh Plan – Good or Bad Investment Option?

HDFC Life Sampoorn Nivesh offers flexibility in choosing the death benefit with 3 options & fund with a choice of 10 fund options. You can switch your fund according to fund performance.

But after analyzing the IRR (Internal Rate of Return) under various plan options, it shows that the returns are not inflation-beating.

All ULIP policies in the bazaar are advertised promising they will provide benefits of life cover and market-linked returns on investment.

But that’s not the case, here high mortality charges & other investment charges are deducted from your premium & the net premium is only invested. As a result, at the time of redemption, the fund value will be low.t

But why do insurance agents pester you to buy this plan? The answer is quite simple. Because of the high agent commission that they get!

Ultimately any investment should help you see your savings yield rich benefits and help you to accomplish your life’s financial goals.

To accomplish your life goals, analyze the plan/scheme before investing your hard-earned money.

Always keep your Life Insurance and Investment separate to achieve better results. Don’t fall for misleading information on social media platforms like Facebook, Quora, Twitter, etc

You can always consult with your Financial Advisor for guidance and customize your Financial Plan according to your risk appetite and Financial requirements.