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how is the hdfc sanchay life insurance 5 years with a 6th year cooling of period and from 7th year

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12 Dec, 2020 by  Nitish Kharat

how is the hdfc sanchay life insurance 5 years with a 6th year cooling of period and from 7th year 31750 per year upto 30 years first 5years i need to deposit 1 lakh every year with gst charge. how is it giving returns or i missing something and would it be a better than investing in mutual funds?

Term Life Insurance

2 Answer

20 Dec, 2020
Bwealthy Financials

Dear Nitish,

One of the best plans in the guaranteed segment is hdfc sanchay plus where you pay close to 1.2 lakhs per year for 10 years and get 1 lakh per year after that for 25 years and also the premium you paid at end of 25 years all tax free. There is also a plan by max life which gives similar returns.

I am happy to guide and assist you in this. I run a company- Bwealthy Financial solutions pvt ltd, basically run by doctors to guide people in their finances so that they don't get fooled. Feel free to mail me on , I have better solutions for you

With regards,

Dr Geomcy George


Bwealthy Financial Solutions Private Limited

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21 Dec, 2020
We breathe insurance :)

Hello Nitish,

We would like to understand the reason you are considering this plan first. Do you have a need for an investment class that provides low but stable, guaranteed returns?

Also, this quick note may help:

This plan is for people who are looking for: 

o Investing for a limited period of 5 to 12 years (depending on their earning years left)

o Staying invested for the entire term and being Ok with the staggered pay-out system of the plan. 

o Getting stable tax-free returns of 5 to 6% for the long term, that shall be locked despite any interest rate fluctuations. 

o A guaranteed income that supports them till the end of their lives.

Things you should know about this product. 

o The plan offers multiple options and combinations of pay-in and pay-out

o Choosing the plan option and the PT PPT combination is the key.

o Once frozen, you need to be disciplined towards the pay-in period and patient towards the pay-out plan. 

o You cannot panic midway. In case you do, there is a significant loss

o If you wish to withdraw midway, the value of your policy will either drop down to a meager surrender value (post first 2 years) or a present value of all future payouts in case you have paid all premiums. 

o The Plan does not have any bonuses or additions which may be promised over and above the main benefit. 

o The return is around 5% to 6% only if you stay invested for the entire policy term. This return is tax-free. May go even higher if you live longer to collect more payouts. 

Who & When you should NOT buy this product

o You are not looking at investment and staying invested for a minimum term that the plan offers.

o You may want this money back before the end of the payout term.

o You are looking for aggressive long term returns and are willing to value risk over stability.

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