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HDFC Life Sanchay par Advantage Plan - Should You Buy

HDFC Life Sanchay Par Advantage Plan [Review]: Should You Buy?

by Holistic 214 Comments | Filed Under: Insurance

Listen to this article



HDFC Life Sanchay par Advantage Plan is a non-linked, participating Life Insurance Plan. The unique feature of this plan is that you will receive the advantages of this policy until you reach 100 years of age!!

The company claims it to be a Sanchay (means save and grow) Plan with advantage. In this article, we will do a detailed analysis of its ‘Sanchay’ aspect and we will have a look at any disadvantage on their claimed ‘advantage’!

Let’s read on and figure out what this plan has for you in its basket!!

Table of Contents

  • HDFC Life Sanchay Par Advantage: Key Features
  • HDFC Sanchay Par Advantage: Immediate Income option
  • HDFC Sanchay Par Advantage: Deferred Income option
  • HDFC Life Sanchay Par Advantage: Analysis and Review
  • The disadvantage of HDFC Life Sanchay Par Advantage
  • HDFC Life Sanchay Par Advantage: How to cancel this plan?
  • Final Verdict

HDFC Life Sanchay Par Advantage: Key Features

Below are the key features and Basic Eligibility Criteria of this plan:

    • This policy comes under 2 options:
      • (i) Immediate Income Option; and
      • (ii) Deferred Income Option
    • Life cover with protection till the age of 100 years,
    • Basic eligibility criteria are shown in the below table:

Eligibility Criteria

Minimum

Maximum

Age at Entry (years) 0 years(30 days)ꜛ
  • Immediate income – 65 years
  • Deferred income:
  • 55years (for PPT 8 years)
  • 60years (for PPT 10, 12 years)
Age at Maturity(years) 100 years Maximum
Premium Payment Term Years
  • Immediate income – 6,8,10,12 years
  • Deffered income -8,10,12 years
Policy Term(years)
  • 100 minus Age at Entry or
  • A Fixed Policy term in the rage of 30-40 years can be chosen
Minimum Sum Assuread on Maturity(₹) ₹3,00,000
Maximum Sum Assuread on Maturity(₹) No limit,subject to Board Approved Underwriting Policy (BAUP)
  • The policy term will be 100 minus the age of entry. Let us say, you are 30 years old, then your policy term will be 100-30=70 years!
  • The Minimum Death Benefit shall be 105% of Total Premiums Paid as on date of death.
  • The minimum premium per instalment is Rs.25,000; you can choose to pay it annually, half-yearly, quarterly, or monthly as shown below.
Frequncy

Minimum Premium Per Instalment

Annual ₹ 25,000
Half-Yearly ₹ 12,750
Quarterly  ₹ 6,500
Monthly ₹ 2,188

Let’s have a look at this brief video description reviewing all the major aspects of the HDFC Life Sanchay par advantage plan. For details continue reading this article.

Now, let us discuss the 2 options provided by this policy. We will start with an Immediate Income option.

HDFC Sanchay Par Advantage: Immediate Income Option

Let us say you are 30 years old, choose to pay an annualized premium of Rs. 1 Lac for the premium payment term (PPT) of 8 years.

As the policy option name suggests, HDFC Sanchay Par Advantage will start paying cash bonuses immediately on completion of a year of the first premium payment. And it will continue to pay the cash bonuses on completion of each policy year.

Policy Term will be 70 years. That is, you will receive the Cash Bonuses throughout the policy term of 70 years. The amount of cash bonuses varies based on the company’s performance in the given year.

You can get the Cash Bonus at a different rate of returns, as shown below:

Assumed Rate of Return Cash Bonus
8% Rs. 13,000
4% Rs. 14,500

Please note that the Cash Bonuses are NOT the guaranteed bonuses!
Below image shows the description (Image Source: Product Brochure)
hdfc income policy termAs you can notice from the above description in the image:

  • The assured sum will be Rs. 8 Lacs.
  • And, there will be a terminal bonus of
  • Rs. 10,31,000 at 4% assumed rate of return, or
  • Rs. 1,59,34,000 at 8% assumed rate of return.

Note that terminal bonuses are not guaranteed as well.

But if we take the best-case scenario of an 8% assumed rate of return, you will receive

  • Rs. 30,000 per annum throughout the policy term, and
  • The non-guaranteed terminal bonus of Rs. 1,59,34,000 at maturity.

We will do the detailed illustration and analysis of this best-case scenario to see what all advantages this policy can provide!!

Before we get into illustration, let’s have a look at the other option of this plan, which is a deferred income option.

HDFC Sanchay par Advantage: Deferred Income Option

Let us take the same example as given in the previous option.

Let us say you are 30 years old, choose to pay an annualized premium of Rs. 1 Lac for the premium payment term (PPT) of 8 years.

In this option, you will receive a guaranteed income along with Cash Bonuses, once you finish your premium paying term.

You have to pay your premium payments for the 8th year, then you will start receiving the guaranteed income from next year onwards till 25 years along with non-guaranteed bonuses, as described below:

For 25 Years, you will receive:

  • the guaranteed income of Rs. 28,400.
  • Cash Bonus of Rs. 42,600 p.a. (assumed at 8% returns), or Cash bonus of Rs. 1,100 p.a. (assumed at 4% returns). [Cash bonuses are not guaranteed.]

After the 25 years duration,

You will only receive non-guaranteed Cash Bonuses as shown in this table:

Assumed Rate of Return Cash Bonus
8% Rs. 71,000
4% Rs. 2,500

If declared, then you may receive this bonus amount all throughout the policy term of 70 years.
hdfc cash bonus policy termApart from guaranteed income and non-guaranteed bonuses, this option will also provide the non-guaranteed terminal bonuses, at maturity as shown in this table:

Assumed Rate of Return Cash Bonus
8% Rs. 53,60,000
4% Rs. 15,22,000

Calculation of Guaranteed Income:

There is a process of declaring the amount of Guaranteed Income. You are getting the guaranteed income of Rs.28,400 for 25 years because your premium payment term is 8 years and you are 30 years old. For different entry age and for different Premium Payment Term, Guaranteed Income is calculated as shown in the table below:

Guaranteed Income Rate (As a % of Annualized premium)
Age at Entry Premium Payment Term (PPT)
8 10 12
Up to 25 years  28% 40% 50.8%
26 to 35 years 28% 40% 50%
36 to 40 years 28% 40% 50%
41 to 45 years 28% 40% 50%
46 to 50 years 28% 40% 50%
51 to 55 years 27.6% 40% 50%
56 years and above NA 40% 50%

Now, we will calculate the average returns provided by both options of this policy. We will consider the same examples with the best-case scenario… that is at an assumed rate of return of 8%.

The Assured Death Benefits in the above example for both options will be Rs.12,50,000 in both options. For more details on death benefits, you can refer to the HDFC Life Sanchay Par Advantage Product Brochure.

Our core objective in this post is to make you aware of the investment aspect of this plan. Whether you should invest or avoid this plan!

Let’s do the real analysis of both options in the next section.

HDFC Life Sanchay Par Advantage: Analysis and Review

From the above description, it may seem like that this policy has truly covered the lifetime until you become 100 years old; by providing regular income throughout 70 years. But if you notice it closely you will find that:
1. In the deferred income option,
For calculating IRR, we are taking the best case scenario at 8% assumed rate of returns, as shown in this table:

Policy Duration Garunteed Incom Cash Bonuses

(non-gauranteed)

During 25 years Rs 28,400 Rs 42,600
After 25 years until Maturity Nil 71,000

Using the above data, we will get the IRR to be around 4.8%!!

Please note, this IRR is for the best-case scenario of an 8% assumed rate of returns. It is better not to consider the worst-case or even the average case scenario for this option!!

Even saving bank accounts can give you better returns at this amount.

4% return rate in 70 long years!! Don’t you think that there are better options available for you, if only you care to explore a bit further?

We will discuss alternative options in the later section. Now, let’s have a look at the immediate income option.

2. In the immediate income option, the best-case scenario is that you are receiving the cash bonus of Rs. 30,000 per annum (at 8% rate of interest) until you are 100 years old!

The below table (shortened version) shows the overall duration of 70 years, from the year 2020 till 2090, here we will calculate the average returns of your investment in this policy.

Year Premium Payment  Cash Bonus(at 8% assumed rate)
2020 -1,04,501
2021 -1,02,251 30,000
2022 -1,02,251 30,000
2023 -1,02,251 30,000
2024 -1,02,251 30,000
2025 -1,02,251 30,000
2026 -1,02,251 30,000
2027 -1,02,251 30,000
2028 30,000
2029 30,000
2030 30,000
2040 30,000
2050 30,000
2060 30,000
2070 30,000
2080 30,000
2090 1,59,34,000(on maturity
IRR 5%

Immediate income option is providing you with the IRR of 5% as their best cash bonuses assumed at 8%. Along with all your premium payments you have to pay the GST charges.

Do you think it is a great deal for your financial future?

With both of these variants, you are getting the returns in the range of approximately 5%!

So what you should do, if you want greater returns for a long term of 60-70 years?

Well, if you are looking for long term investment then you must consider investing in Equity Mutual Funds. There you will get the long term returns in the range of 12% to 15% and you will experience the power of compounding in your invested capital. Let’s take an example,

You choose to invest Rs. 8 Lacs as a Lumpsum payment into equity Mutual Fund, within 25 years the future value of your investment will be Rs. 1,58,30,773, at the assumed rate of return of 12%! Have you noticed it? Just Rs.8 Lacs can make you 1.5 crores within the 25-year duration.

You can keep invested for any number of years and your principal amount will get compounded. You can also choose to invest through SIPs if you don’t want to pay the lump-sum payment.
Mutual fund returns

You can use this Online Mutual Fund Calculator to find the future value of your desired investment value and investment duration, take the returns in the range of 12% to 15%.

If you are risk-averse then, instead of investing in this policy, you can deposit Rs.1,00,000 per annum for any number of years you want into the PPF account or FD Scheme. Here, you will get the assured returns in the range of 7% to 8%. That will make you Rs.1.3 crores in 35 years with Rs.8 Lacs invested capital!

‘Disadvantage’ of HDFC Life Sanchay Par Advantage

In the Immediate income option, you are getting a nominal amount of Rs. 14,500 per annum. In the Deferred Income option, you are receiving merely Rs. 2,500 per annum for 70 years long term!

It is like, your friend asks you for Rs.8 Lacs and promises to pay back any random small amount every single year till you attain the age of 100 years!! Will you lend money to your friend with such a vague promise?

Of course NOT!

In the best-case scenario, this policy promises you to pay Rs. 1.5 crores at maturity. That is, if you start investing from the year 2020, you will get Rs.1.5 crores (non-guaranteed) in the year 2090!! Still, the average return rate will be merely 5%, which can’t even beat the rate of inflation, which is growing rapidly!

Talking about the maturity bonus of Rs.1.5 crores, which you may get from this policy in 70 long years!! But as you have seen the analysis discussed in the previous section:

  • With Mutual funds, you will generate Rs.1.5 crores within 25 years of investment duration.
  • PPF will generate Rs.1.5 crores in 37 years, and these are guaranteed returns!

I hope now you have understood that though they claim it to be an “Advantage” Plan, actually it is a “Disadvantage” Plan.

Have you ever thought as to why your Financial Advisor is still trying to sell you this product?

If your Financial Advisor recommends or convinces you to buy it, BEWARE! it’s because they may get a commission of 30-40%. If your premium is 90,000, your advisor may get around 27,000 to 36,000 as commission out of your premium. So it is for the commission they are selling you and not for your interest or because it meets your financial goals.

So always check about the product, its review, returns, if it beats inflation, and especially if it meets your financial needs. If not, then do not opt for it just because your advisor tells you to do so.

If your Bank Relationship Manager also tries selling you this product, NOT TO WONDER, the bank also gets a commission. Relationship managers have pressure to sell these kinds of products and also have targets, hence there is a lot of misselling happening.

They missell telling that there is around 8 to 9% returns from these products. (Nowadays the complaints on bank misselling have increased) Hence before you buy a product verify the truth on the HDFC Life website as to what the actual returns are.

There is a lot of marketing and advertisements to attract customers but if you are not an ignorant customer, you wouldn’t fall prey for these kinds of products.

Many are behind complicated products thinking that it must be good, but it is not so. PPF, Mutual Funds, Term Insurance though are old and boring, have no marketing gimmicks in them.

They are simple and easy to understand and also fulfills its purpose. Complexity kills transparency. Less transparency makes it easier to mis-sell.

One more place where it becomes easier to missell is when the investors have no much knowledge of these products, they often tend to believe whatever is said to them. So never be an ignorant investor. Buy a product only if you can understand it. Avoid complicated investment products like HDFC Life Sanchay Par Advantage.

How much is really guaranteed in HDFC Life Sanchay Par Advantage?

Returns are guaranteed only if you complete the payment: If you miss to pay the premium or surrender the policy, the policy benefits will reduce.

They portray the guaranteed part, but how much is guaranteed?

Check your final returns, it’s only 4 to 5%.

GST: You will also have to pay the GST on the premium, after that the returns will become even lower.

Liquidity: Investment will be locked until the income period starts.

If you are looking for wealth creation, then this is not the right product: PPF would give higher returns.

How will this plan even benefit you?

Do you still think this is a good plan?

YES, If you feel that 4% is enough to meet your financial goals, and if it beats inflation.

YES, If you feel that no other investment can give you 4% returns or more.

If your answer was NO, then don’t opt for it. If you have already purchased it, here is a way to cancel it.

HDFC Life Sanchay Par Advantage: How to cancel this plan?

If you have signed up this policy without understanding the complete details of this policy or you signed up because your bank relationship manager pushed it to you, there is a way out. You can come out of this policy.

There will be a free look period of 15 and 30 days as defined below

If you have taken this plan directly from the company then you have the option to return the policy by stating the reason within 15 days from the date of receipt of the policy.

Whereas, if you have taken this policy through some other medium such as online, telephone, which does not involve face to face interaction, then you will have a free look-in period of 30 days.

On receipt of your letter along with the original policy document, you will get the refund of your paid premium, but it will be subject to deduction of the proportionate risk premium for the period on cover, the expenses incurred by the company for stamp duty and medical examination if any.

In case, if you want to cancel this policy during your policy term, then the deductions will be as shown in the below table:

Policy Year Premium Paying Term
6 years  8 years 10 years 12 years
0 0% 0% 0% 0%
1 0% 0% 0% 0%
2 30% 30% 30% 30%
3 35% 35% 35% 35%
4 50% 50% 50% 50%
5 50% 50% 50% 50%
6 60% 50% 50% 50%
7 65% 50% 50% 50%
8 75% 60% 65% 58%
9 80% 65% 70% 65%
10 80% 75% 75% 73%
11 80% 80% 80% 80%
12+ 90% 90% 90% 90%

Based on your Premium Paying Term and Policy year when you want to cancel, the surrender value factors as a percentage of your premium paid will be, as shown in the table.

For example, if you want to cancel your policy in the 4th policy year, & your PPT is 8 years; then you will receive 50% of the premium that you paid to the company.

For more details, you can visit hdfclife.com

Also, you can call their Toll free number (from 9 am till 9 pm, all days): 1800-266-7227

Final Verdict

In short, you should AVOID investing in HDFC Life Sanchay Par Advantage.

Though they claim it to be a “Sanchay” Policy with “Advantage”; but actually it is a “Vyaya” policy with “disadvantage”, as you might have noticed in the analysis and illustration given above!!

Also, they claim to pay Cash Bonuses for 70 long years but all these bonuses are not guaranteed!

In the best-case scenario, this policy offers returns in the range of 4%-5%, which can’t even beat the rate of inflation. Even the returns provided by your Saving Banks are better than this policy, as they are assured!

Therefore, as an alternative, you must invest in equity Mutual Funds, as you are planning to invest for the long term. For better clarity on Mutual Fund investment, you must read this Comprehensive and Complete Guide to Mutual Funds.

You can also check out the review of HDFC Life Sanchay plus.


If you have any comments or questions, write them in the comment box below.

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Comments

  1. sanjot kurane says

    July 25, 2022 at 11:22 am

    Respected Sir,
    Very nice and easy to understand illustrations. Sir I have already invested 1st premium ₹ 1.5L , II don’t want to continue and stop paying further premiums. How much amount I will get after stopping now

    Reply
    • Holistic says

      September 9, 2022 at 12:59 pm

      Please check the Guaranteed Surrender Value in the article.

      Reply
  2. Karthikeyan Subramaniam says

    June 9, 2022 at 8:36 pm

    Thanks for the Post. I thought of investing. However I made lot of research in the internet and found your blog. Absolutely good post with clear explanation.

    Really appreciate.

    Reply
  3. Quinee says

    March 10, 2022 at 12:47 pm

    Hi.Sanjay par advantage insurance how to terminate this poly for second year because the insurance fully cheated so many fake promises 10.03.2021.this time will I did not received my insurance policy original bond

    Reply
    • Holistic says

      September 9, 2022 at 1:00 pm

      We have posted a detailed video on how to surrender your HDFC life insurance plans. You can watch it here.
      https://youtu.be/K8rFZLwHjcc

      Reply
  4. Raghavendra says

    September 8, 2021 at 6:46 pm

    Hi,
    In the immediate income plan, my understanding as below
    I pay a premium of Rs 2 Lakhs/ year for 8 years
    I get Rs 64K starting from the 2nd year
    After completion of the last premium, i.e. in the 9th year, i would get
    Rs 16 Lakhs(sum assured) + 2% of sum assured for every year i.e. 32K * 8 = 2.56 lakhs
    My final pay out in the 9th year is 16 lakhs + 2.56 = 18.56 lakhs
    this, assuming the bonus i am getting is only 2%, if it is more than that then the final pay out can increase significantly
    I dont have to stay invested for 70 years as you have mentioned above
    Could you please help me understand if i am right?

    Reply
    • Holistic says

      September 9, 2022 at 1:01 pm

      If you have surrendered your policy on the 9th policy term, then you will receive all the benefits you have mentioned. However, the cash bonus rates, if any, will be declared at the end of the valuation period.

      Reply
  5. GD says

    July 23, 2021 at 5:01 pm

    Hi,
    My Bank Manager asking me to pay 1lack per year for 10 years and i will get 37K per year guaranteed cash bonus for 30 years and the final amount at end of policy will approx 15Lack.
    Kindly suggest on this🙏🏻

    Reply
    • Holistic says

      September 9, 2022 at 1:02 pm

      It is advisable to work out the outcome and proceed with the better option.

      You can consult a financial planner to choose the better option.
      Or
      You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
      Get your appointment here: https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  6. Rishi says

    July 3, 2021 at 11:52 pm

    Hi , thank you for this post. However, I have already made the mistake of taking it as I believed the insurance agent (entirely my fault) and thought what he was saying was the truth. I have already paid 52250 one year premium with tax.

    Now they are calling me 5 times a day to pay the 2nd year premium. If I dont pay, I lose all of my investment. The lock in period is 2 years, after that if I surrender, I will get assured 30000 only(from my 1 Lakh investment).

    So my question is should I stop paying now and consider 50 thousands to be the payment for my foolishness or should I continue?

    Reply
    • Holistic says

      August 12, 2021 at 10:14 am

      Since you have already taken this insurance plan, then you have two options.
      Option: 1 You can surrender and encash the policy. And reinvest the surrender value and future premium money with better investment plans like PPF or MF.
      Option: 2 You can continue with the insurance plan until the policy matures.
      It is advisable to work out the outcome of both the options and proceed with the better option.
      80% of the time, option 1 is better.

      You can consult a financial planner to choose the better option.
      Or
      You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
      Get your appointment here: https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
    • Archana says

      November 20, 2021 at 8:03 pm

      hi.
      thank u for the analysis. Actually when i calculated the IRR it came to around 5-6% again and as I was told it is tax free it considered a 8-9% net return decent.

      But my Qs is this
      – I was told that my PPT is 6 years with deferred income option, so if i withdraw in 8th year i will get 100% premium paid + cash bonus incurred every year * 5% (interest every year)
      Do you think it’s a lie ?

      Reply
      • Holistic says

        September 9, 2022 at 1:00 pm

        Hi
        To answer your 1st question, PPF returns are also tax-free. The post-tax returns from Mutual Fund ELSS will be higher.

        To answer your 2nd question, please check your PPT. The minimum PPT starts at 7 years. And yes you will receive the same but the 5% is not a guaranteed return.

        Reply
  7. Jyoti says

    June 24, 2021 at 10:38 am

    Considering the insurance aspect which no mutual fund gives, par advantage is worthy on the aspect of diversification. Considering one pays 50k for year 1 and dies next year, which can’t be judged by IRR

    Reply
    • Holistic says

      August 12, 2021 at 10:28 am

      Jyoti, That’s why we always suggest a combination of Term Insurance + PPF or ELSS. In this combo, you get the insurance cover and the investment value.

      Reply
  8. Sarthak says

    June 20, 2021 at 11:57 am

    Hi, they told me that 7.1% return is guaranteed. Apart from that they will give cash bonus of 80,000 every year( when I will invest 2L per annum, if 1L per annum then 40,000 per year).
    Did he completely lied to me?

    Reply
    • Holistic says

      August 12, 2021 at 10:31 am

      Hi,
      There are two types of options available in this policy.
      Option:1 Immediate Income Option. In this option, you will receive a cash bonus (non-guaranteed) from your 2nd PPT onwards. And you will receive a terminal bonus at the end of maturity.
      Option: 2 Deferred Income Option. In this option, once your PPT end, you will get a sum of guaranteed return for 25 years plus a non-guaranteed cash bonus. After that, you will receive only a cash bonus. And you will get the terminal bonus when the policy matures.
      From your description, I think it is a Deferred Income Option.
      However, 7.1% which was told to you is on the higher side. Please ask them to share the workings and check.

      Reply
  9. Madhu Bhargava says

    June 8, 2021 at 12:12 am

    Thanks for this in-depth analysis! I was intrigued by the promises and could not believe them.

    Reply
    • Holistic says

      August 12, 2021 at 10:31 am

      Glad to know that we can help you by providing some useful information.

      Reply
  10. VIKAS AGARWAL says

    June 2, 2021 at 10:07 pm

    I already purchased this policy last year
    Now I want to know if I continue paying the premium for 6 years or I cancel the policy, if I pay the premium for 6 years can I surrender after 6 years how much amount I get

    Reply
    • Holistic says

      August 12, 2021 at 10:34 am

      Since you have already taken this insurance plan, then you have two options.

      It is advisable to work out the outcome of both the options and proceed with the better option.
      80% of the time, option 1 is better.

      Also, if you have decided to surrender the policy after 6 years, then you will get 60% of the premium you have paid.

      You can consult a financial planner to choose the better option.
      Or
      You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
      Get your appointment here: https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  11. Raj says

    May 23, 2021 at 7:56 pm

    Hello, thank you for this post. However, I have already made the mistake of taking it as I believed the insurance agent (entirely my fault) and thought what he was saying was the truth. I have already paid 1 year premium on 1Lakh + 4500 tax.

    Now they are calling me 5 times a day to pay the 2nd year premium. If I dont pay, I lose all of my investment. The lock in period is 2 years, after that if I surrender, I will get assured 60,000 only(from my 2 Lakh investment).

    So my question is should I stop paying now and consider 1 Lakh to be the payment for my foolishness or should I continue?

    Reply
    • Holistic says

      July 3, 2021 at 9:46 am

      Hi Raj,

      It is advisable to work out the outcome of both the options and proceed with the better option.

      If you want, you can consult a financial planner to choose the better option.
      Or
      You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
      Get your appointment here: https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
    • suren says

      August 3, 2021 at 12:15 pm

      you should be continue as i have invested in mutual fund and i thought in the same way which describe in this article but my money is now 0. At least you will get some amount in worst scenario.

      Reply
      • Holistic says

        September 9, 2022 at 1:01 pm

        Sorry to hear this. Mutual Fund will need time to get a better return. You will not get a 12% assumed rate of return in a short period. And, compared to the worst-case scenario, you can get a better return in your savings bank, Bank Fds, RBI Bonds, PPF, and other government schemes, if you don’t want to take any investment risk.

        Reply
  12. R Ray says

    May 20, 2021 at 7:34 pm

    Thanks for such details. I was looking it as bank personnel suggested me this policy. But whenever I asked them IRR they bypass me. I was about to calculate that but find that in your post. Thank you.

    Reply
    • Jyoti says

      June 24, 2021 at 10:40 am

      Insurance is there that’s why 5% irr is overlooked

      Reply
      • Holistic says

        September 9, 2022 at 1:02 pm

        Hi!
        We have taken the same investment contribution and split it between investment and insurance to see which performs better.
        So, the Insurance cover and returns are not overlooked.

        Reply
    • Holistic says

      July 14, 2021 at 1:26 pm

      You are welcome.

      Reply
  13. Ashok Singh says

    May 16, 2021 at 5:08 pm

    You said that one cam gey better return in FD and PPF. Do you think that interest rate would by 7-8% after 50 yrs from now. Because internet rates are falling continuously.

    Reply
    • Holistic says

      July 3, 2021 at 9:54 am

      “Hi Ashok Singh,

      As you said there is no guarantee that FD and PPF interest rate be the same after 50 yrs.

      But Mutual Fund investment can give you better return for long-term investment. It is better to compare various investment schemes before investing.”

      Reply
  14. Vishwas says

    April 17, 2021 at 5:42 pm

    This is so so helpful. Thanks a lot for illustrating this. My RM just tried to sell this, I am so glad I read this. Going to bash this guy now for selling lies

    Reply
  15. Muzammill says

    April 17, 2021 at 1:44 pm

    Hello sir, My advisor saying If u take policy of 30k per year, the next year onwards itself you will get 11,400/- not after 8yrs as you said. Please clarify

    Reply
    • Holistic says

      July 3, 2021 at 9:56 am

      “Hi Muzammill,

      Thank you for notifying us. Actually there are two options available in HDFC Life Sanchay Par Advantage.

      Option: 1 Immediate Income Option and
      Option: 2 Deferred Income Option

      In option-1, you can get cash bonus from the 1st premium term onwards. But on the other hand, in option-2,you can get cash bonus once you finish your premium paying terms.

      So, please clarify the options from your advisor before making a decision. “

      Reply
  16. lalithambal says

    April 8, 2021 at 10:07 pm

    Hello

    Hats off, You are a libra. Your in depth analysis has helped many people. Its a worth reading. Thank you

    Reply
    • Holistic says

      July 14, 2021 at 1:29 pm

      You are welcome.

      Reply
  17. DINESH says

    April 1, 2021 at 7:12 pm

    What if I exit this plan on 13th year, as their of 1L/ year illustration and 4.8L as money back every year and 8% of guaranteed bonus + Terminal Bonus. 17L altogether?

    Reply
    • Holistic says

      July 17, 2021 at 5:41 pm

      Hi Dinesh,

      If you are completed your PPT, then you will receive 90% of the premium you have paid once you surrender the policy.

      Reply
  18. Anil says

    March 18, 2021 at 3:26 pm

    Thank you for detailed analysis. Can you please suggest any good similar plans with higher returns other than MF/SIP. I am inclined to buy one such policy. Please advice.

    Reply
    • Holistic says

      July 17, 2021 at 5:42 pm

      “Hi,

      For personalized advice, you can schedule a free financial plan consultation with our Certified Financial Planners.

      Please click link and register for our 30-minute Complimentary Financial Plan Consultation to get your appointment.

      https://www.holisticinvestment.in/complimentary-financial-plan-consultation/“

      Reply
      • Sapna Pillai says

        July 19, 2021 at 12:49 am

        HDFC LIFE Sanchay Par Advantage is a mistake. Please do not take it based on the advice of an agent, especially your Bank manager or relationship manager. In my case, they did not send the policy kit like for other insurance policies. They claim they send an ecopy of the proposal form which I never received. So I could not revoke during the freelook period. Their service is hopeless. Please be careful.

        Reply
        • Holistic says

          August 12, 2021 at 10:08 am

          Thank you for sharing your Experience, Sapna Pillai. Please be cautious before choosing investment plans.
          In your case, you can also escalate to the insurance ombudsman for a resolution.

          Reply
  19. Nisha Waikar says

    March 9, 2021 at 1:07 pm

    i just got a call from my RM to convince on the same. I have kept on the hold saying will get back to you on this. good did not fall for it.

    Reply
    • Holistic says

      July 27, 2021 at 11:36 am

      Good to know

      Reply
  20. Harshada says

    March 6, 2021 at 8:55 pm

    Hi I am really confused and regretting now. Today itself I have got this plan but what they are saying is completely different. They asked me to pay one lac for each year and do not have to pay for 7th and 8th year. Also I can withdraw my money / surrender my policy anytime I want but they did not mention that they will deduct some amount. ??? Could you please guide me. what will be the final amount if I term the plan lets say in 3rd or 4th year and after let say 8 years? what will be the exact amount that I will be getting?

    Reply
    • Holistic says

      July 17, 2021 at 5:45 pm

      Hi,

      Once you purchase a premium plan, either you can continue or surrender your insurance plan.

      Based on your Premium Paying Term and Policy year when you want to cancel, the surrender value factors as a percentage of your premium paid will be change.

      If you want to surrender your plan in the 3rd or 4th year, then you will get 35% to 50% of the premium you have paid.

      After 8 years, you will get 60% to 80%

      For more details, you can visit hdfclife.com

      Reply
  21. Mohan Vamsi says

    March 6, 2021 at 8:36 pm

    Hai sir, last year I took this policy…. the manager told me to pay 1 lakh rupees every year for 10 years and from the 12th year, he told that I would get around 80000 rupees per month and I took the policy and paid the first year premium and now I am thinking to stop this policy due to less monetary benefit!! Plz guide me whether to continue or stop this policy!!!!

    Reply
    • Holistic says

      August 12, 2021 at 10:35 am

      Hi,
      You can submit your cancellation or complaint request in an Online or Offline Format. A written request or an email with the registered email id is mandatory. You can send your e-mail to service@hdfclife.com.
      For more details, you should read this current official document of HDFC Life Sanchay Par Advantage.
      All grievances (Service and sales) received by the Company will be responded to within the prescribed regulatory Turn Around Time (TAT) of 14 days.

      Reply
  22. shivaji says

    March 6, 2021 at 1:47 pm

    How to cancel this policy , I just purchased two days back

    Reply
    • Holistic says

      July 17, 2021 at 5:47 pm

      There is a free look period of 15 and 30 days to cancel the policy.

      If you have taken this plan directly from the company then you have the option to return the policy by stating the reason within 15 days from the date of receipt of the policy.

      Whereas, if you have taken this policy through some other medium such as online, telephone, which does not involve face to face interaction, then you will have a free look-in period of 30 days.

      On receipt of your letter along with the original policy document, you will get the refund of your paid premium, but it will be subject to deduction of the proportionate risk premium for the period on cover, the expenses incurred by the company for stamp duty and medical examination if any.

      Reply
  23. vikas says

    March 6, 2021 at 3:08 am

    i bought this policy on 25th march 2020 and want to surrender now on 6march 2021. is it good to surrender or i shall continue.

    Reply
    • Holistic says

      July 17, 2021 at 5:52 pm

      Hi,

      It is better to work out the outcome of both the options and proceed with the better option.

      If you want, you can consult a financial planner to choose the better option.
      Or
      You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
      Get your appointment here: https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  24. Praful Dusane says

    February 18, 2021 at 3:44 pm

    But what about life coverage i.e. Death benifit?

    Reply
    • Holistic says

      July 17, 2021 at 5:53 pm

      Yes, this plan also covering life coverage. For more details on death benefits, you can refer to the HDFC Life Sanchay Par Advantage Product Brochure.

      https://www.holisticinvestment.in/hdfc-life-super-income-plan-review-should-you-buy-or-not/

      Reply
  25. Abdul says

    February 15, 2021 at 2:17 pm

    Immediate Income Option – as per your illustration cash bonus is paid out after the premium payment term of 8 years, but when I enquired in the bank, they are saying the cash bonus is paid out right after the year of inception i.e. if I pay premium this year 2021, I will get the bonus in 2022 and so on. can you please clarify this?

    Reply
    • Holistic says

      July 17, 2021 at 5:53 pm

      Hi,

      In the Immediate Income Plan, you will receive the cash bonus from your 2nd premium payment term onwards. So, yes what the bank officials said is true.

      Reply
  26. Prashant says

    February 12, 2021 at 10:58 pm

    I came across this policy name, but the scheme provided to me is different.
    I need to pay premium of 1L pa for 6 years and I start getting 1840/- (monthly) from the 2nd month of investment [5578/- (quarterly) 11270/- (half year) or 23000/- (yearly)] continuously for 6 years (same amount). AND if I double the annual premium, the monthly amount too doubles with some interest added (3760/- monthly). THEN “on survival upto Maturity at the age of 100 years” ::
    Sum Assured 6 lacs || Accrued terminal bonus 8329000|| Total Benefit Received 8929000.

    Do you think is this some variation of above plan or a different plan altogether and it is beneficial?

    This plan was advised to me via bluechipindia.co.in || are you aware of this company and can perhaps tell us if they are legit.

    Reply
    • Holistic says

      September 9, 2022 at 1:04 pm

      Hi!
      The cash bonus rate is declared at the end of every financial year. So, the cash bonus may change… it is better to check the plan brochure.

      Reply
  27. Abdul says

    February 11, 2021 at 8:59 pm

    can you give more clarity on the Immediate Income Option. Your illustration shows the cash bonus receipts only after the PPT of 8 years, but the bank manager says we will get the bonus right after from next year i.e. if I paid the premium this year 2021, I will get the cash bonus in 2022 for Rs.30,000. Can you clarify if this is the case?

    Reply
    • Holistic says

      July 17, 2021 at 5:54 pm

      Thank you for notifying us Abdul. As your Bank Manager said, you will get your cash bonus from the next year onwards.

      Reply
  28. Ishita Gupta says

    February 10, 2021 at 9:22 pm

    Hi
    I took this policy with a yearly premium of 1 Lac and for 6 years, opted for immediate income. Now after reading this i have realized i have made a big mistake.
    My 1year will be completing in this Feb’21.
    Shall I discontinue with this policy.

    Reply
    • Holistic says

      July 17, 2021 at 5:55 pm

      Hi Ishita Gupta,

      It is advisable to work out the outcome before you decide. Because if you decided to surrender your insurance plan, then you might need to some amount will be deducted from the premium you have paid.

      If you want, you can consult a financial planner to choose the better option.
      Or
      You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
      Get your appointment here: https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  29. Sebastian Varghese says

    February 10, 2021 at 1:44 pm

    I have opted for 1 lakh per year for 6 year option and I was asked to make the first premium of 1 lakh. Subsequently, they have agreed to make it in 4 quarter i.e. 25000 x 4 + GST and they have issued the policy. I was not satisfied with the policy details. I have approached offices of HDFC Life Insurance as a customer looking for this policy and none of them could give any proper explanation about the quantum of returns and the surrender value. Their illustration shows 23500 cash bonus per annum. I was assured that besides the annual income, on 7th year I will get back the invested amount of Rs. 6 lakh but at one branch I was told that I will be getting only Rs.4.87 lakhs or so. It seems neither the brokers nor the company people are in a position to give any concrete explanation. The illustration shows cash bonus at 8% is non guaranteed and none of them could give any satisfactory explanation. Now I am planning to cancel the policy within 15 days. Your analytical approach seems to convincing. Thanks.

    Reply
    • Holistic says

      July 17, 2021 at 5:55 pm

      Glad to know that we can help you by providing some information.

      Reply
    • Holistic says

      July 27, 2021 at 11:38 am

      You are welcome.

      Reply
    • Holistic says

      July 27, 2021 at 11:42 am

      You are welcome

      Reply
  30. Santanu says

    February 10, 2021 at 11:55 am

    Yesterday I was fully convinced after meeting the bank guy…thank god i read you review today, A big NO to them.

    Thanks a lot for the detailed explanation, i became more aware now.

    Reply
    • Holistic says

      July 14, 2021 at 1:32 pm

      Good to hear

      Reply
  31. r g says

    February 9, 2021 at 1:01 pm

    i invested in this policy in december 2020 considering my RM suggestions and then realised that i have fallen prey. Is there any way i can save myself now?

    Reply
    • Holistic says

      July 17, 2021 at 5:56 pm

      Since you have already taken this insurance plan, then you have two options.
      Option: 1 You can surrender and encash the policy. And reinvest the surrender value and future premium money with better investment plans like PPF or MF.
      Option: 2 You can continue with the insurance plan until the policy matures.
      It is advisable to work out the outcome of both the options and proceed with the better option.
      80% of the times, option 1 is better.

      You can consult a financial planner to choose the better option.
      Or
      You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
      Get your appointment here!
      https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  32. Kumar says

    February 7, 2021 at 10:35 pm

    Hi,
    My Father’s age is 65 and if he takes the policy, will it be advantages to take the hdfc life sanchay par advantage plan

    Reply
    • Holistic says

      September 9, 2022 at 1:04 pm

      The income received will be fixed and not inflation adjusted. It is advisable to work out the outcome and proceed with the better option.
      You can consult a financial planner to choose the better option.
      Or
      You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
      Get your appointment here: https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  33. Ashwinee Rathore says

    January 27, 2021 at 2:01 pm

    Hello,
    I have been misguided by banker and now its already 6 months since i have purchased this policy.
    Can i do something to stop this policy?
    Will i get refund of premium that i have already paid?

    Reply
    • Holistic says

      July 17, 2021 at 5:59 pm

      You can cancel the policy during the free look period of 15 and 30 days.

      On receipt of your letter along with the original policy document, you will get the refund of your paid premium, but it will be subject to deduction of the proportionate risk premium for the period on cover, the expenses incurred by the company for stamp duty and medical examination if any.

      Reply
  34. Visha says

    January 25, 2021 at 8:28 pm

    Thank you for the review. Quite helpful. It might be a vague query but can you give some idea about what possibly can be the best Investment options seeing Market conditions today.

    Reply
    • Holistic says

      July 17, 2021 at 6:00 pm

      Hi,

      For personalized advice, you can schedule a free financial plan consultation with our Certified Financial Planners.

      Please click the link and register for our 30-minute Complimentary Financial Plan Consultation to get your appointment.

      https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  35. Kishore says

    January 24, 2021 at 10:47 am

    So only you are the genuine one to say invest in mutual fund that you recommend, which will give Gauranteed return of 12% as mentioned in your review.
    And people should believe this .
    Where is the gaurantee in equity investment for 12%
    You are just using this platform to demarket another brand and market your products .

    Reply
    • Holistic says

      July 17, 2021 at 6:00 pm

      Hi Kishore,
      it’s our genuine review. We are not aiming to demarket any brand. It’s upto investors to choose their investment plans. As financial planners, we are just giving them suggestions to ease their work.

      Reply
  36. Cephas says

    January 21, 2021 at 10:08 am

    Thanks alot for the Info, Yesterday my VM called & recommended this, Now I understood the policy thoroughly

    Reply
    • Holistic says

      July 19, 2021 at 11:18 am

      Gald to know that we can help you!

      Reply
  37. Sebastian Varghese says

    January 14, 2021 at 4:21 pm

    Have gone through the reviews and really confused. If I take this policy with 1 lakh premium per year for 6 years, I will be receiving monthly income of Rs. 900 + approximately whereas if it was in my daughter’s name the monthly payouts will be Rs. 1700 + approximately. Suppose if I am taking the policy in my daughter’s name and opt out after 6 years, I will be getting back the 6 + lakhs as the surrender value. Looking into the current FD rate, is it not worth to opt this scheme.

    Reply
    • Holistic says

      September 9, 2022 at 1:04 pm

      Thank you for sharing your point of view.

      Reply
  38. Abhishek says

    January 7, 2021 at 10:50 am

    Then which one I’ll be the best option to invest

    Reply
    • Holistic says

      July 17, 2021 at 6:01 pm

      Hi,

      For personalized advice, you can schedule a free financial plan consultation with our Certified Financial Planners.

      Please click the link and register for our 30-minute Complimentary Financial Plan Consultation to get your appointment.

      https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  39. PRAKASH KEWALE says

    January 4, 2021 at 7:51 pm

    Really an eye opener for all the investors, preventing them losing hard earned money at the hands of there mis sellers. They are really mean even being known faces around you.

    Reply
    • Holistic says

      July 17, 2021 at 6:02 pm

      Glad to know, we can help you.

      Reply
  40. Swaroop says

    January 4, 2021 at 7:02 pm

    When the RM told me about this policy today, I couldn’t understand anything. So, I said I’ve to read the policy details and will get back. I tried to understand this policy, but couldn’t. I somehow landed on your website and tried to go through the policy details and am still lost. Maybe I’m not that investment savvy to understand such intricate things. The only thing I understood from the entire writeup is ‘Don’t Invest’ in this product and that’s enough for me. Thanks for the heads up.

    Reply
    • Holistic says

      July 17, 2021 at 6:02 pm

      Hi, if you need personalized advice to choose the right investment plan, then you can get advice from certified financial planners.
      Or
      You can schedule a free financial plan consultation with our Certified Financial Planners.

      Please click the link and register for our 30-minute Complimentary Financial Plan Consultation to get your appointment.

      https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
    • Holistic says

      July 19, 2021 at 11:17 am

      Hi, if you need personalized advice to choose the right investment plan, then you can get advice from certified financial planners.
      Or
      You can schedule a free financial plan consultation with our Certified Financial Planners.

      Please click link and register for our 30-minute Complimentary Financial Plan Consultation to get your appointment.

      https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
    • Holistic says

      July 27, 2021 at 11:44 am

      You are welcome

      Reply
  41. ARUN J says

    January 4, 2021 at 3:33 pm

    I took this policy about a month back on 4th Nov 2020 , now I want to cancel. May I know the procedure to cancel this. Please help me on this. Thanks in advance.

    Reply
    • Holistic says

      August 12, 2021 at 10:46 am

      There is a free look period of 15 and 30 days to cancel the policy.

      After the free look period, you can submit your cancellation or complaint request in an Online or Offline Format.
      A written request or an email with the registered email id is mandatory.
      You can send your e-mail to service@hdfclife.com.
      For more details, you should read this current official document of HDFC Life Sanchay Par Advantage.
      All grievances (Service and sales) received by the Company will be responded to within the prescribed regulatory Turn Around Time (TAT) of 14 days.

      On receipt of your letter along with the original policy document, you will get the refund of your paid premium, but it will be subject to deduction of the proportionate risk premium for the period on cover, the expenses incurred by the company for stamp duty and medical examination if any.

      Reply
  42. ARUN JAWALE says

    January 4, 2021 at 3:28 pm

    Hi,
    I am 58 years old and wanted to have confirm income after retirement as I am working in private company and will not have enough pension. As you rightly pointed out, HDFC person sold this policy to me. I have applied for this policy on 4th Nov 2020 and paid a premium of Rs 10 lakh with GST Rs 45000/= but now after going through your review, I want to cancel this policy.
    Kindly gudie me how to go about

    Reply
    • Holistic says

      August 12, 2021 at 10:54 am

      Hi,
      You can submit your cancellation or complaint request in an Online or Offline Format. A written request or an email with the registered email id is mandatory.
      You can send your e-mail to service@hdfclife.com.

      For more details, you should read this current official document of HDFC Life Sanchay Par Advantage.

      All grievances (Service and sales) received by the Company will be responded to within the prescribed regulatory Turn Around Time (TAT) of 14 days.

      Reply
  43. Rohit says

    January 3, 2021 at 2:49 pm

    Hi, should I opt this policy for short term say 6 years? As yesterday only I bought this plan.
    Advisor told me to invest for 6 years (Rs 1 lakh per year upto 6 years) and enjoy the return of Rs 24k per year.
    I was looking this for short term only. Will take out the money after completion of 7 years.
    Kindly note- Have invested few amount if MF /Equity already.

    Reply
    • Holistic says

      August 12, 2021 at 11:00 am

      It is best to avoid investing in HDFC Life Sanchay Par Advantage.

      They claim to pay Cash Bonuses for 70 long years but all these bonuses are not guaranteed!

      In the best-case scenario, this policy offers returns in the range of 4%-5%, which can’t even beat the rate of inflation. Even the returns provided by your PPF are better than this policy, as they are assured!

      Reply
  44. Ramakrishna K says

    December 31, 2020 at 11:28 pm

    How you are getting the IRR @ 4.8% in the deferred plan? i am able to see 7.1% IRR till maturity in case if we consider 8% return. is there something i am missing?

    Below details:
    Age of entry:34,
    PPT: 10 years,
    Premium amt: Rs 5 lacs,
    Guaranteed Survival benefit P.a. = Rs 2,06,000 from 12th to 36 years,
    Non guaranteed Cash Bonus p.a. = Rs 3,09,000 from 12th to 36 years and
    = Rs 5,15,000 from 37th to 66 years.
    Guaranteed Maturity amount = Rs 50,00,000
    Total Maturity Incl Terminal Bonus = Rs 1,81,45,000.

    Reply
    • Holistic says

      September 9, 2022 at 1:05 pm

      Hi, since you have already purchased the policy, then you can check the return in HDFC Life website by using your policy number.

      Reply
  45. jit kumar says

    December 31, 2020 at 10:26 pm

    I have already purchased this for 1.5 lakhs for 12 years, and it been 2 months now. I can’t quit as look in period is over (no one told me about the look in period until now). Is there any way i can escape from this?

    Reply
    • Holistic says

      August 12, 2021 at 11:40 am

      Hi,
      You can submit your cancellation or complaint request in an Online or Offline Format. A written request or an email with the registered email id is mandatory.

      You can send your e-mail to service@hdfclife.com.

      For more details, you should read this current official document of HDFC Life Sanchay Par Advantage.

      All grievances (Service and sales) received by the Company will be responded to within the prescribed regulatory Turn Around Time (TAT) of 14 days.

      Reply
  46. vijay devarasetti says

    December 30, 2020 at 8:18 pm

    I can surrender the term at any point of time after PPT. Let’s say my term is 8 and paying around 60K and surrendering after 10 years. As said I will be getting cash bonus of 18K every year and surrender amount is around 5.3L so total is 7.1L. It is still good right. Or am I wrong ?

    Reply
    • Holistic says

      September 9, 2022 at 1:05 pm

      If you are paying 60k per annum for 8 years, then you will get 75% of your overall premium paid as a Guaranteed Surrender Value. And, the Cash Bonus is not a guaranteed one.

      Reply
  47. Alhad Jamkhindikar says

    December 29, 2020 at 10:42 am

    When can the policy be surrendered earliest after having paid all premia

    Reply
    • Holistic says

      September 9, 2022 at 1:05 pm

      Since you have already taken this insurance plan, then you have two options.
      Option: 1 You can surrender and encash the policy. And reinvest the surrender value and future premium money with better investment plans like PPF or MF.
      Option: 2 You can continue with the insurance plan until the policy matures.
      It is advisable to work out the outcome of both options and proceed with the better option.
      80% of the times, option 1 is better.

      You can consult a financial planner to choose the better option.
      Or
      You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
      Get your appointment here: https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  48. Raja says

    December 24, 2020 at 1:21 pm

    Hi,

    A seller suggested this product for my son who is 18 yrs.

    His explanation was as follows:

    I pay annual premium of Rs.1 lac for 12 yrs.
    From the second year I get annual bonus of Rs. 40500 till my son turns 100 yrs.
    Is it true?
    They say bonus @ 8% is 40500. They never explained 8% of what is 40500.

    Can you advise me pl.

    Regards
    Raja

    Reply
    • Holistic says

      September 9, 2022 at 1:06 pm

      Yes it is true. As per the cash bonus, 8% is not a guaranteed one. It is the assumed rate of return. 8% of your annualized premium.

      Reply
  49. K S Balu says

    December 19, 2020 at 10:35 am

    I want to surrender my HDFC Life Sanchay Par ADvantage Policy I have paid 1 premium of Rs.16000/-

    Reply
    • Holistic says

      August 12, 2021 at 12:00 pm

      There is a free look period of 15 and 30 days to cancel the policy.

      If you have taken this plan directly from the company then you have the option to return the policy by stating the reason within 15 days from the date of receipt of the policy.

      Whereas, if you have taken this policy through some other medium such as online, telephone, which does not involve face to face interaction, then you will have a free look-in period of 30 days.

      After free look period, you can submit your cancellation or complaint request in an Online or Offline Format.
      A written request or an email with the registered email id is mandatory.
      You can send your e-mail to service@hdfclife.com.
      For more details, you should read this current official document of HDFC Life Sanchay Par Advantage.
      All grievances (Service and sales) received by the Company will be responded to within the prescribed regulatory Turn Around Time (TAT) of 14 days.

      On receipt of your letter along with the original policy document, you will get the refund of your paid premium, but it will be subject to deduction of the proportionate risk premium for the period on cover, the expenses incurred by the company for stamp duty and medical examination if any.

      In your case, you can surrender your plan without deduction within 2 years.

      Reply
  50. Bharathi says

    December 19, 2020 at 12:17 am

    Yesterday I took this policy, now I want to cancel. May I know the procedure to cancel this. Please help me on this. Thanks in advance.

    Reply
    • Holistic says

      December 21, 2020 at 6:24 pm

      Hi Bharathi,

      Good that you realised it early. You have 15 days free looking period for the policy. Within that 15 days, you can surrender the policy without any charges.

      Please go ahead and surrender asap.

      Reply
      • Rohit says

        December 26, 2020 at 12:44 pm

        Its usefull if your annual interest earning is greater than 40-50 k in FD or 1L in mutual fund on yearly basis as the payout which comes from life insurance policies are exempted under section 10(10) D of Income tax law of EEE ( exempt at inception ( Section 80 C , exempted at regular payout as benefit ( Guaranteed / non guaranteed both ) under section 10(10) D and the maturity as well under section 80C .

        Its a different segment of saving as every individual is having different perspective of saving and investment for his or her short term / mid term / long term financial planning .

        Reply
        • Holistic says

          August 12, 2021 at 11:57 am

          The returns from PPF is also tax-free.

          THe post-tax returns of ELSS are better than the returns of this policy.

          When better returns can be earned from similar investment options, I am not seeing a point in investing in this policy.

          Reply
  51. Sharma says

    December 16, 2020 at 12:01 pm

    Thank you. I reverted back after reading your review and discussing with the manager. Not really beneficial.

    Reply
    • Holistic says

      December 23, 2020 at 9:45 am

      We are glad that our article help you take a better financial decision. Thanks for sharing your experience.

      Reply
      • Ritu says

        January 25, 2021 at 3:59 pm

        I think this best plan to invest

        Reply
        • Holistic says

          September 9, 2022 at 1:04 pm

          Thank you for sharing your opinion. But, it is advisable to work out the outcome (less life cover and less returns) and proceed with the better option.
          You can consult a financial planner to choose the better option.
          Or
          You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
          Get your appointment here: https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

          Reply
  52. Easwari says

    December 15, 2020 at 11:29 pm

    I didn’t understand one thing, they say 28%pa, 40%pa as guaranteed income, but why we calculate using 8%pa and 4%pa

    Reply
    • Holistic says

      December 23, 2020 at 9:46 am

      Instead of relying on what they say. We can rely on the benefit illustration generated from their website.

      Reply
      • Easwari says

        January 7, 2021 at 6:54 pm

        thank you for response. But in the illustration table only they have mentioned 22%, so still I am not able to understand your points. Can you please clarify more.

        Reply
        • Holistic says

          September 9, 2022 at 1:05 pm

          It will be clearer if you read the brochure. 22% is the Guaranteed Income you receive from the policy. 22% of your annualized premium.

          Reply
  53. Ismail Ahmad says

    December 15, 2020 at 6:12 am

    By mistake I have taken this policy,
    Now How many years I have to pay to To get my money With minimum loss

    Reply
    • Holistic says

      August 12, 2021 at 12:05 pm

      Since you have already taken this insurance plan, then you have two options.
      Option: 1 You can surrender and encash the policy. And reinvest the surrender value and future premium money with better investment plans like PPF or MF.
      Option: 2 You can continue with the insurance plan until the policy matures.
      It is advisable to work out the outcome of both the options and proceed with the better option.
      80% of the times, option 1 is better.

      You can consult a financial planner to choose the better option.
      Or
      You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
      Get your appointment here: https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  54. Ramesh says

    December 8, 2020 at 1:57 pm

    I was about to invest in this. Good that I read your review before investing. Now i don’t invest in this. Thanks a lot for your in depth analysis.

    Reply
    • Holistic says

      December 11, 2020 at 6:05 pm

      Thanks for your feedback.
      Glad that it helped you!

      Reply
    • Narendra Kumar dubey says

      February 4, 2021 at 12:08 am

      I have received the policy document today and after reading your article I have decided to cancel it ,will I get back my full premium without any deduction my premium amount is 150000

      Reply
      • Holistic says

        July 17, 2021 at 5:57 pm

        There is a free look period of 15 and 30 days to cancel the policy.

        On receipt of your letter along with the original policy document, you will get the refund of your paid premium, but it will be subject to deduction of the proportionate risk premium for the period on cover, the expenses incurred by the company for stamp duty and medical examination if any.

        Reply
  55. Keeryhi says

    November 30, 2020 at 5:01 pm

    Your IRR calculation is wrong. And the policy Premium paying term can be chosen by customer. Two options# Limited(30 to 40 yrs) and life time
    And now FD/RD rate is very low.ie, 4.9 percent only. Instead of putting in FD , we can invest in Sanchay Par.

    Reply
    • Holistic says

      September 9, 2022 at 1:06 pm

      In the worst-case scenario, the return in HDFC Life Sanchay Par Advantage Plan is lower than bank FDs. The return from the best-case scenario is not a guaranteed one.

      Reply
  56. Krishna says

    November 27, 2020 at 8:42 pm

    Thanks for the detailed anlysis , this really helps

    Reply
    • Holistic says

      August 12, 2021 at 12:40 pm

      Glad to know that Krishna.

      Reply
  57. prama says

    November 23, 2020 at 10:46 pm

    I am paying 2lakh per annum as premium for 10 years and I want to surrender after 10 years only. How much will I receive at the end of 10 years along with the cash bonus?

    Reply
    • Holistic says

      September 9, 2022 at 1:06 pm

      You will get 75% of your overall premium paid and based on your policy option, you will receive 4% – 8% of cash bonus p.a. plus guaranteed return (only in Deferred Income Option).

      Reply
  58. Pratik Shah says

    November 6, 2020 at 4:04 pm

    Well explained to take decision for Investment. Was very helpful. Thanks for sharing same

    Reply
    • Holistic says

      November 9, 2020 at 12:36 pm

      You are welcome Pratik

      Reply
  59. A Guha says

    November 6, 2020 at 11:35 am

    Thanks for your in-depth analysis. Saves me from falling prey to misselling.

    Reply
    • Holistic says

      November 9, 2020 at 10:10 am

      Hi Guha,

      We are happy that, it helped you.

      Reply
      • Shekhar Agrawal says

        February 6, 2021 at 4:28 pm

        Thanks for this article , my HDFC relationship manager is forcing me to take this policy.
        now i will not take this policy , who know what will be return after 5 years , there is no guarantee return mentioned in Policy
        only either 4% or 8 % , its better invest in post office some good scheme is there.

        Reply
        • Holistic says

          July 17, 2021 at 5:57 pm

          Glad to know that we can help you!

          Reply
  60. Dheevar Paralkar says

    October 28, 2020 at 12:24 pm

    As per the HDFC RM the guaranteed income payout of 28% starts immediately after completion of the first year but you have mentioned that it will start after the last premium amount has been paid. Could you please clarify? Also, is there any tax benefit if invested in this scheme? If yes what would that be?

    Reply
    • Holistic says

      August 12, 2021 at 12:47 pm

      Hi!

      Guaranteed income is only available in the Deferred Income Option. And you will receive the Guaranteed income payout only after one year of the completion of all your PPT. Please confirm the policy option with your RM. Because there are two income policies are available under this policy on the premium you pay and its benefits.
      Also, yes there is a tax benefit available under the policy. It is advisable to consult your tax advisor to avail of tax benefits on this policy.

      Reply
  61. Mohan says

    October 27, 2020 at 2:03 pm

    I have paid 1L annually in HDFC life progrowth plus for 3 yrs. I didn’t see any returns till now even after 3 yrs. RM suggesting to continue plan as 5 yrs lock in period. If you surrender now, some % will be deducted after 5 yrs maturity. What can I do now. I have no interest continuing this plan. Now RM is saying to opt sanchay or sanchay par advantage because it is guaranteed. He said immediate returns. I don’t have confident to take. Looking for LIC Jeevan Anand 15yrs premium paying plan. I need it investment wise and also to show in 80C. Your comment on this .

    Reply
    • Holistic says

      August 12, 2021 at 12:55 pm

      Since you have already taken this insurance plan, then you have two options.
      Option: 1 You can surrender and encash the policy. And reinvest the surrender value and future premium money with better investment plans.
      Option: 2 You can continue with the insurance plan until the policy matures.
      It is advisable to work out the outcome of both the options and proceed with the better option.
      80% of the time, option 1 is better.

      You can consult a financial planner to choose the better investment option.
      Or
      You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
      Get your appointment here: https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  62. Jagan says

    October 23, 2020 at 8:18 pm

    Thanks for your explanation! it helps me a lot

    Reply
  63. Latha says

    October 20, 2020 at 9:08 pm

    Very useful reviews the rm was so efficient in convincing.

    Reply
  64. Ravishankar says

    October 19, 2020 at 6:56 pm

    What is your view on Bajaj Allianz Life Income Assure ?

    Reply
    • Holistic says

      August 12, 2021 at 2:37 pm

      Hi,

      We are planning to write more review articles in the future. We will keep this policy on our list.

      Until then if you need personalized advice, you can schedule a free financial plan consultation with our Certified Financial Planners.

      Please click link and register for our 30-minute Complimentary Financial Plan Consultation to get your appointment.

      https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  65. PRAHALADAN says

    October 19, 2020 at 2:35 pm

    Omg. I was about to sign up for this. Got to see your review just now.

    Reply
  66. mani says

    October 17, 2020 at 8:37 am

    Excellent article educating on annuity investment products…. what ends attracting for many is the fact that the money is locked and so you dont end up frittering away… So long one disciplined in savings and investment then this or any life product is not worth.
    Rgds

    Reply
    • Holistic says

      August 12, 2021 at 2:48 pm

      Thank you for sharing your view with us.

      Reply
  67. sachin says

    October 13, 2020 at 9:56 am

    have invested in this policy in jan 2020, 5 lakhs annually , will complete 1 year on 3rd jan 2021. how do i cancel it ? and if i cancel it will I get my paid premium fully or how much deduction will be there.
    took the 6 year plan .

    Reply
    • Holistic says

      August 12, 2021 at 3:03 pm

      Hi,

      There is a free look period of 15 and 30 days to cancel the policy.

      In your case, you can surrender your plan without deduction within 2 years.

      After the free look period, you can submit your cancellation or complaint request in an Online or Offline Format.
      A written request or an email with the registered email id is mandatory.
      You can send your e-mail to service@hdfclife.com.
      For more details, you should read this current official document of HDFC Life Sanchay Par Advantage.
      All grievances (Service and sales) received by the Company will be responded to within the prescribed regulatory Turn Around Time (TAT) of 14 days.

      On receipt of your letter along with the original policy document, you will get the refund of your paid premium, but it will be subject to deduction of the proportionate risk premium for the period on cover, the expenses incurred by the company for stamp duty and medical examination if any.

      Reply
  68. Geethu says

    October 10, 2020 at 1:07 pm

    Thanks much…I was about to check about this plan as my RM suggested. Thank god accidentally check this review.

    Reply
    • Thivakar Tyagaraj says

      December 6, 2020 at 4:40 am

      HDFC LIFE SANCHAY PAR ADVANTAGE

      They are promising an annual payout of 36% for people between the age group of 35 to 45 years for an investment of 1 lakh with a policy term 12 years.

      How the payout is caculated and if this 36% is true , what would be my income from hdfc’s payout for the above scenario.

      Please could you comment and do advise a best investment plan that yields 2.5 % or more as guaranteed monthly income .

      Reply
      • Holistic says

        August 12, 2021 at 12:18 pm

        Hi,

        For personalized advice, you can schedule a free financial plan consultation with our Certified Financial Planners.

        Please click the link and register for our 30-minute Complimentary Financial Plan Consultation to get your appointment.

        https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

        Reply
  69. Dipen says

    October 9, 2020 at 12:38 am

    If my premium is 33,333 p.m then how much fixed amout return benefit per month i get from hdfc life till i surrender policy .

    Reply
    • Holistic says

      September 9, 2022 at 1:06 pm

      Please check the return on HDFC Life Sanchay Par Advantage plan calculator in their website.

      Reply
  70. SYK says

    October 5, 2020 at 11:46 am

    Hi, can you please also suggest on the below plan ADITYA BIRLA SLI Guaratee 360 solution plan. I am not able to see any reviews online… so need some guidance

    Reply
    • Holistic says

      August 12, 2021 at 3:07 pm

      Hi,

      We are planning to write more review articles in the future. We will keep this policy in our list.

      Until then if you need personalized advice, you can schedule a free financial plan consultation with our Certified Financial Planners.

      Please click the link and register for our 30-minute Complimentary Financial Plan Consultation to get your appointment.

      https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  71. NAGABHUSHANA ATTIBELE says

    October 2, 2020 at 1:21 am

    Hi, Thanks a lot for detailed information. I was trying to see how is LIC Jeevan Umang. I didn’t see that information in your website. Could you please give some details on LIC Jeevan Umang, Plan wise it is almost same as HDFC Sanchay Par Advantage deferred income option. But not sure are they really same or different. Which one is better?

    Thanks a lot in advance.
    You are really doing a great job by giving wonderful details. Really appreciate all your help to the community

    How to get in touch with you for advise?

    Reply
    • Holistic says

      August 12, 2021 at 3:09 pm

      Hi,

      We are planning to write more review articles in the future. We will keep this policy on our list.

      Until then if you need personalized advice, you can schedule a free financial plan consultation with our Certified Financial Planners.

      Please click the link and register for our 30-minute Complimentary Financial Plan Consultation to get your appointment.

      https://www.holisticinvestment.in/complimentary-financial-plan-consultation//

      Reply
  72. Shilpa says

    September 30, 2020 at 3:20 pm

    thank you, very helpful.

    Reply
    • Holistic says

      August 12, 2021 at 3:50 pm

      Glad we can help you Shilpa.

      Reply
  73. Rohit says

    September 30, 2020 at 9:10 am

    Thanks for the clarification on this! Great I came across this article as I was very confused.

    Reply
    • Holistic says

      August 12, 2021 at 3:54 pm

      You are welcome Rohit.

      Reply
  74. anita says

    September 10, 2020 at 5:10 pm

    Thank you so much Holistic for this feedback. You have helped me out of a real jam
    Keep up the good work

    Reply
    • Holistic says

      August 12, 2021 at 3:55 pm

      Thank you for your appreciation.

      Reply
  75. Divya goel says

    August 22, 2020 at 10:19 pm

    Sir,I want to invest 1 lack INR per annum in MF but don’t know how.kindly guide me.

    Reply
    • Holistic says

      August 12, 2021 at 4:07 pm

      Hi,

      For personalized advice, you can schedule a free financial plan consultation with our Certified Financial Planners.

      Please click the link and register for our 30-minute Complimentary Financial Plan Consultation to get your appointment.

      https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  76. Sandhya says

    August 7, 2020 at 11:35 am

    Thanks for the info. Definitely it gives a balanced view. We are warned not to fall for RM who pushes this product.

    Reply
    • Holistic says

      August 12, 2021 at 4:15 pm

      Glad we can help you Sandhya.

      Reply
  77. Ashish Ghosh says

    July 17, 2020 at 3:05 pm

    I am 56 . Looking for MIS kind return . bank approached with above plan in the name of my Son ( 19 Yrs ) old. And ask to pay 172000/- fr 8 yrs with a MIS amounting 4150/- PM . Should I go ?

    Reply
    • Holistic says

      September 9, 2022 at 1:07 pm

      It is advisable to work out the outcome of various options and proceed with the better option.

      You can consult a financial planner to choose the better option.
      Or
      You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
      Get your appointment here: https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  78. Vikas says

    July 14, 2020 at 2:59 pm

    Please calculate for 1Lac +gst for 12year investment in deferred income plan for 40yrs.

    Reply
    • Holistic says

      September 9, 2022 at 1:35 pm

      Please check the return on HDFC Life Sanchay Par Advantage plan calculator in their website.

      Reply
  79. RATAN DEEP SINGH says

    July 5, 2020 at 6:19 pm

    Hi, An agent know to my father in law forced to take this HDFC Life Sanchay Par Advantage policy on 30.06.2020, he is 72 years and the annual premium is One Lakh P.A. for 6 years and nominee is my son who is 72 years.
    My FIL is not educated and didn’t most of the policy but he somehow convinced him.
    Please suggest how to make my FIL to understand that this is not a wise decision and cancel the policy.
    Kindly reply timely so that he cancel the policy within 15 days. Also, guide me for some investment options, I have some spare funds. I am 51 years old and working overseas right now.

    Reply
    • Holistic says

      September 9, 2022 at 1:36 pm

      Since you have already taken this insurance plan, then you have two options.
      Option: 1 You can surrender and encash the policy. And reinvest the surrender value and future premium money with better investment plans like PPF or MF.
      Option: 2 You can continue with the insurance plan until the policy matures.
      It is advisable to work out the outcome of both options and proceed with the better option.
      80% of the times, option 1 is better.

      As per the investment option, you can consult a financial planner to choose the better option.
      Or
      You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
      Get your appointment here: https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  80. Subir Dutta says

    June 25, 2020 at 3:09 pm

    Thanks for suggestion. Please guide me for a short term investment plan.

    Reply
    • Holistic says

      August 12, 2021 at 4:24 pm

      Hi,

      For personalized advice, you can schedule a free financial plan consultation with our Certified Financial Planners.

      Please click the link and register for our 30-minute Complimentary Financial Plan Consultation to get your appointment.

      https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  81. Sayantan says

    June 11, 2020 at 5:32 pm

    In addition to 71K return every year (non guranteed), they are also claiming a lumpsome return of Rs. 3 crore at 100th year (or to nominee). Is this true?

    Reply
    • Holistic says

      September 9, 2022 at 1:36 pm

      If the plan is based on Immediate Income Option, then the promised benefit may refer to the sum assured plus terminal bonus. However, it is based on the Premium, PPT and Policy Term. So, it is better to check it in the website, if you have the policy number.

      Reply
  82. anshul says

    June 4, 2020 at 5:47 pm

    Hello Sir, Can you please tell for 2Lack/annum ,12 year PPT, and 64years policy term (assumed growth at 8%) , what will be IRR ?

    Reply
    • Holistic says

      August 8, 2022 at 12:52 pm

      For customised calculations, Please check with your financial planner.

      You can also book a slot with our financial planner for an initial complimentary consultation.
      https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  83. NARAYANAN says

    May 26, 2020 at 5:01 pm

    thanks for your report.
    Today only proceeded this policy with the help of bank relationship officer.
    My age is 33, Premium amount of Rs 1L per annum with PPT as 12 Yrs. He told that will get Rs 38,500/- bonus from next year on wards. If the bonus is not received in account means after 20 yrs(The same will be re-invested), these bonus amount will be accumulated as Rs 7,70,000 , from this will get Final settlement of Rs 19,00,000/- @ 8% pa.
    As per PPT 12 Yrs ~ paying amount as Rs 12,00,000/- These amount will be matured as Rs 18,00,000/- after 20 Yrs.,
    After 20th Yrs will get the Corpus amount of Rs 37,00,000/- Is it guaranteed or not !
    Please clarify below.
    * Is it Tax Exempted under 80c for AY 2020-2021. (New policy taken today only)
    * Shall we avail these policy for Tax exemption under 80c for next 12 Yrs !
    * Is it a Insurance plan ? Any life coverage applicable or Only Savings plan !
    * Is there any other charges applicable like Mortality charges in ULIP policies.

    Reply
    • Holistic says

      August 8, 2022 at 12:48 pm

      Sec 80 C benefit is available. It gives you life cover as well.

      Reply
  84. Rohit Singh says

    May 15, 2020 at 5:57 pm

    This product has no transparency .there is lot of chance of misselling. Any one can easily mis sell this product by showing illustration on written.

    Reply
    • Holistic says

      July 27, 2021 at 11:45 am

      You are correct

      Reply
  85. Anil Chawla says

    March 12, 2020 at 8:49 pm

    How and where to invest Rs. 40 lakh to get maximum yearly return/income.

    Reply
    • Holistic says

      August 8, 2022 at 12:40 pm

      Please check with your financial planner.

      You can also book a slot with our financial planner for an initial complimentary consultation.
      https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  86. Numan says

    March 12, 2020 at 5:16 pm

    How can I invest the same 1 lacs p.a amount in PPF.

    Reply
    • Holistic says

      August 12, 2021 at 4:25 pm

      Hi,

      For personalized advice, you can schedule a free financial plan consultation with our Certified Financial Planners.

      Please click the link and register for our 30-minute Complimentary Financial Plan Consultation to get your appointment.

      https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  87. Manoj Kumar says

    March 9, 2020 at 1:10 am

    Thanks for good explanation! Someone wants to sell this but now it’s big No. Please suggest good mutual fund for 25 years.

    Reply
    • Holistic says

      August 12, 2021 at 4:30 pm

      Hi,

      For personalized advice, you can schedule a free financial plan consultation with our Certified Financial Planners.

      Please click the link and register for our 30-minute Complimentary Financial Plan Consultation to get your appointment.

      https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

      Reply
  88. Pranav Gupta says

    March 4, 2020 at 6:29 pm

    Could you please explain how come after depositing 1 lakh per annum for 8 years + GST ie. total 8,18,000 and receiving 15934000 after 70 years yield only 5 % pa.?

    Reply
    • Holistic says

      March 6, 2020 at 11:34 am

      Though it looks like a huge sum, considering the period – 70 years…it is very fewer returns.

      @5% returns, money doubles every 14 years. Let us say the eighth year value is 8.18 L, then it doubles to 16.36 L at the end of (8 years+14 years) 22 years. It again doubles to 32.72 L at the end of 36 years. It doubles to 65.44 L at the end of 50 years. Again it doubles to 130.88 L at the end of 64 years. It reaches 159 L at the end of 70 years.

      Insurance companies play with this power of compounding to attract us.

      Reply
      • Meghna says

        July 27, 2020 at 1:36 pm

        Is there a way to surrender HDFC Life Sanchay par advantage after expiring of lock-in period? If so do I lose some amount of money?

        Reply
        • Holistic says

          August 12, 2021 at 4:22 pm

          After the free look period, you can submit your cancellation or complaint request in an Online or Offline Format.
          A written request or an email with the registered email id is mandatory.
          You can send your e-mail to service@hdfclife.com.
          For more details, you should read this current official document of HDFC Life Sanchay Par Advantage.
          All grievances (Service and sales) received by the Company will be responded to within the prescribed regulatory Turn Around Time (TAT) of 14 days.

          On receipt of your letter along with the original policy document, you will get the refund of your paid premium, but it will be subject to deduction of the proportionate risk premium for the period on cover, the expenses incurred by the company for stamp duty and medical examination if any.

          Reply
      • Shekhar Agrawal says

        February 6, 2021 at 4:35 pm

        they are thinking customers are fool , before selecting any policy think 4 times , read articles and then buy.
        if they are not given in writing about return then there is huge risk.
        My HDFC relationship manager is chasing me since one moth to but this Sanchay advantage policy but after reading this article and comparing with PPF/mutual fund , no benefit.
        pl also check post office there is some good policy and return upto 7%

        Reply
        • Holistic says

          July 17, 2021 at 5:57 pm

          Thank you for your insight Shekhar Agrawal.

          Reply
      • Mohan Vamsi says

        March 6, 2021 at 8:34 pm

        Hai sir, last year I took this policy…. the manager told me to pay 1 lakh rupees every year for 10 years and from the 12th year, he told that I would get around 80000 rupees per month and I took the policy and paid the first year premium and now I am thinking to stop this policy due to less monetary benefit!! Plz guide me whether to continue or stop this policy!!!! as there was little Ben

        Reply
        • Holistic says

          July 17, 2021 at 5:46 pm

          Hi Mohan Vamsi,

          It is advisable to work out the outcome of both the options and proceed with the better option.

          If you want, you can consult a financial planner to choose the better option.
          Or
          You can take advantage of our free complimentary financial plan consultation and talk to our financial planners.
          Get your appointment here: https://www.holisticinvestment.in/complimentary-financial-plan-consultation/

          Reply
  89. MALLIKARJUNA says

    February 14, 2020 at 6:19 pm

    THANK YOU VERY MUCH FOR THE INFO

    Reply
    • Holistic says

      February 18, 2020 at 10:31 am

      Thanks MALLIKARJUNA.

      Reply
    • Haritha says

      June 9, 2020 at 6:28 am

      Can u explain how to calculate 5% or 8% IRR. Please show me with formula

      Reply
      • Holistic says

        September 9, 2022 at 1:36 pm

        You can calculate the IRR simply in the excel based on the value you use. Formula sample: =IRR(A1:A20)

        Reply
  90. Debarghya Bandyopadhyay says

    January 26, 2020 at 10:54 pm

    Many thanks for your valuable suggestions.

    Reply
    • Holistic says

      January 28, 2020 at 12:34 pm

      Thanks Dabarghya for your feedback.

      Reply
      • surya tayal says

        July 11, 2020 at 9:12 am

        Good morning
        People in gzb are advertising money rs 2000 odd from the very next month in sanchay par advantage immediate option. Kindly clear.

        Reply
        • Holistic says

          September 9, 2022 at 1:35 pm

          The cash bonus may differ based on the PPT, Policy Term and the Premium you choose to pay. Please check the return on HDFC Life Sanchay Par Advantage plan calculator in their website.

          Reply
      • Amit says

        December 3, 2020 at 7:15 pm

        If I have already paid one premium, is there any way of cancelling with minimal loss

        Reply
        • Holistic says

          August 12, 2021 at 12:28 pm

          Hi!
          After the free look period, you can submit your cancellation or complaint request in an Online or Offline Format.
          A written request or an email with the registered email id is mandatory.
          You can send your e-mail to service@hdfclife.com.
          For more details, you should read this current official document of HDFC Life Sanchay Par Advantage.
          All grievances (Service and sales) received by the Company will be responded to within the prescribed regulatory Turn Around Time (TAT) of 14 days.

          On receipt of your letter along with the original policy document, you will get the refund of your paid premium, but it will be subject to deduction of the proportionate risk premium for the period on cover, the expenses incurred by the company for stamp duty and medical examination if any.

          In your case, you can surrender your plan without deduction or minimum loss within your 2nd PPT

          Reply
  91. KAUSHIK GHOSH says

    January 24, 2020 at 6:16 pm

    Thank you Mr. SPC Mahapatra for your valued review. You have mainly counter this plan with Mutual Fund. How can you compare a Savings Insurance Plan with a uncertain equity base Mutual Fund. We all know that if we invest in Mutual Fund for 10-15 years we may get good return provided Equity Market position at that time. But if you plan for any targeted savings (like Children higher education, marriage etc. ) – Mutual Fund is not the solution as may be Share market may be down that time. What will you do then ? Postponed higher education or marriage ? Only ELSS mutual funds gives you 80C benefit which has certain lock-in-period. When you going to sell your Mutual Fund after 1 year you have to pay Long Term Capital Gain Tax @10%. But in Sanchay Par Advantage all your payouts are Tax-free u/S 10(10d). Another main thing I am forget that, god forbid, If Investor of Mutual fund has died just after paying one time Rs.1.50 lakh, how much will amount his/her nominee wil get? Maximum 2 lakhs. But in Sanchay Par Advantage, nominee will get Minimum 10% i.e., 15 lakhs as death benefit. So, when you reviewed this Plan you should mention this type of Guaranteed Benefits. If we invest in Sanchay Par Advantage in lower age then we can get maximum benefits throughout our life time. Even the Surrender value of this policy is wonderful. So, ask illustration from your Financial Consultant and take right decision. Thank you.

    Reply
    • Holistic says

      October 6, 2021 at 6:00 pm

      Thank you for sharing your opinion!

      Reply
  92. SPC MOHAPATRA says

    December 20, 2019 at 8:03 pm

    Thanks for detailed analysis. One should not regret investing in this plan as it is misleading.

    Reply
    • Holistic says

      December 21, 2019 at 10:37 am

      Thanks for your feedback. Our idea is to stop investor falling prey for this kind of misleading products.

      Reply

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Jey S
Jey S
24. September, 2021.
I have been using Holistic Investment Planners for the last three years. Mr. Srinivasavaradhan answered all my questions and doubts very patiently during the first free consultation. I was able to clearly define my short-, medium- and long-term goals once I signed up for the comprehensive plan and got their investment plan suggestion to achieve my goals. They are very polite and highly professional whenever I contact them for any queries or make investments. They never pressurize you to invest on their recommended financial products. I would have been lost money by investing directly without their help since I do not have time and knowledge about different financial products. Risk planning is also done as part of financial planning. Truly, they are holistic planners when it comes to your financial planning. They help you to define your life goals, understand your financial resources and establish a plan to invest towards reaching those goals. They do review your plan as you progress to make sure that you are on correct path to achieve those goals. Kudos to the team and keep up the good work!!! I am happy that I found holistic investment planners for my financial planning and management.
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aksaswadkar
24. September, 2021.
I was about to retire and really not understanding how to invest money to have financial freedom and fulfilling my goals. Was desperately searching on internet way out and fortunately came across Holistic Investment Planners. I read number of articles on their website and realized that this is the agency which I want and engaged their services for my retirement planning. It is an excellent experience to be associated with Holistic. Right from day one our interaction was fantastic and they gave me such a wonderful plan that I had never imagined. I am fortunate enough to be in the client list of Holistic. I have recommended Holistic to my friends as well.
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Lionel Faber
16. September, 2021.
I've been availing their services for the past year. They are highly knowledgeable in the field and are very patient with all doubts and queries. Personalized financial planning is provided keeping your short term, medium term and long term goals in mind. They do not pressurize you to purchase schemes of their choice. They provide their input and suggestions and leave the decision up to you which shows their honesty and high principle.
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Sridhar
8. September, 2021.
Financial planning brings peace in life. Holistic Investment have supported in arriving financial plan based on future goals. My investments are regular since then. They are professionals in their business, will recommend others.
Nitesh Agrawal
Nitesh Agrawal
6. September, 2021.
I have been using Holistic Investment Planners from last one year. The journey has been fantastic. Being a finance person myself I always thought we can look after and plan own finances also. However, due to lack of time and deciplain the things are not always as desired. After joining with Holistic Investment for the first time Icame to know the Financial goals and quantified them. Some dreams were unrealistic based on the earnings and savings so had a reality check. Also got the information and deciplain of investing on regular and more rewarding securities. I definetly suggest to use Holistic Investment Planners. They are professionals, available and hear youor full story before presenting plans. They are flexile in the sense if there are some urgent deviations required, they help to plan the same. For all professionals/individuals I would suggest using professional help of Holistic Investment Planners for best results in long term investment and financial goals achivements. Last advise will be to start early in your life. It really pays well to start in the beginning itself else the dreams needs to adjust :)
Swetha Vasanth
Swetha Vasanth
6. September, 2021.
This is my first year service with the Holistic Team and I would say that they are very much helpful in creating a financial plan and follow ups during the year. I would definitely suggest them if anyone who is willing to proceed with their savings professionally.
Joseph Mathias
Joseph Mathias
6. September, 2021.
I came to know about Holistic Investment Planners online while searching for different investment ideas. Once I contacted them the journey was very smooth. Mr. Ramalingam explained all the aspects of Financial planning in detail and it opened my mind. I realized how important it is to have a Financial planning. Mr. Rajan suggested all the requirements as per my goals and made a Investment plan keeping in mind of my goals. I started my Investment journey with them. I wish I had done it some years back then it would have been in a different level. Review meetings were held every six month to check the implementation of the plan and check the results as per the requirements and to check if any changes required. Overall it was a good experience with Holistic Investment team and would like to continue in the years to come.
Srinvas Kannan
Srinvas Kannan
30. July, 2021.
I came across Holistic investment planners almost 5-6 years back, but I did not have the trust since I had met a few of them who did not sound promising. Then I started investing through a financial advisor of my friend. After 4 years of investing the returns were very low. I was disappointed and started looking for financial advisors when I came across Holistic investment. I had a detailed discussion about my goals and the way they would approach achieving my goal before deciding to switch my investments to them. After a thorough analysis of my then existing portfolios, they suggested new ones and we zeroed-in on 6 schemes/funds where our investment would be split. I am glad I made the decision of switching over and taking Holistic planner's advise, my returns are handsome and I only wish I could have taken their help/advise 5 years back itself. Neverthless, I would like to recommend their services for investment and financial advise if someone is serious about their investments.
Shivaram Andiappan Selvaraj
Shivaram Andiappan Selvaraj
3. July, 2021.
I got a free first time consultation. I got my doubts resolved. They also gave additional advises for investment planning which was also useful.
Nellai B
Nellai B
26. June, 2021.
I have been associated with them for the past three years. They are very professional and polite in answering all our questions. I have complete trust in their suggestions. I strongly recommend for anyone. I am looking forward to have strong and successful association with them.
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