Did you know that when it comes to securing your financial future, choosing the right insurance plan can make all the difference? Today, let’s dive into financial planning and explore the two best guaranteed return investment plans: HDFC Sanchay Plus and TATA AIA Smart Income Plus. Both these policies offer unique features and benefits designed to secure the financial future of your loved ones.
This article will evaluate these plans based on their features, benefits, premium costs, returns, and more, ultimately guiding you towards a wiser investment choice. Whether you are a seasoned investor or new to investment, this analysis will empower you to decide on a secure and prosperous future.
About HDFC Life Sanchay Plus Plan
HDFC Life Sanchay Plus Plan is an insurance product offered by HDFC Life Insurance Company Limited, one of the leading private life insurance companies in India. HDFC Life Sanchay Plus Plan is a Non-Participating, Non-Linked Savings Insurance Plan that provides guaranteed returns for you and your family.
HDFC Life Sanchay Plus Plan Benefits and Features
Guaranteed Benefits - Rest Assured of the Returns
The plan offers guaranteed benefits that include a lump sum payout or a regular income, ensuring a reliable source of funds to fulfil your life goals. These benefits are designed to provide financial security to you and your loved ones, giving you peace of mind.
Tax Benefits -Maximize Your Savings
HDFC Life Sanchay Plus Plan offers you the chance to maximize your savings through eligible tax benefits as per prevailing tax laws. By investing in this plan, you not only secure your future but also enjoy potential tax advantages, making it a prudent choice for smart financial planning.
Flexibility -Made for Your Needs
HDFC Life Sanchay Plus Plan offers flexibility in receiving your guaranteed benefits. Whether you prefer a lump sum amount to meet immediate needs or a regular income stream for a more structured financial approach, this plan adapts to your preferences, providing the financial flexibility you deserve.
Life Long Income Option - A Promise till Age 99
For those seeking a lifetime of financial security, HDFC Life Sanchay Plus offers a Life Long Income option. With this feature, you can enjoy a guaranteed income until the age of 99 years, ensuring a steady stream of funds throughout your lifetime.
Long-Term Income Option - Secure Income for 25 to 30 Years
Planning for specific milestones or long-term goals? HDFC Sanchay Plus Plan offers an option to guarantee a fixed income for a predetermined term of 25 to 30 years, aligning with your aspirations and providing a stable foundation for your financial journey.
Optional Riders - Enhance Your Protection Coverage
By paying an additional premium, you can enhance your protection coverage with rider options, customizing your plan to suit your specific needs. This extra layer of security ensures that you are well-prepared for life's unexpected twists and turns.
Eligibility Criteria for HDFC Sanchay Plus Plan
| Plan Options |
- Guaranteed Income
- Guaranteed Maturity
- Life Long Income
- Long Term Income
|
| Entry Age |
- Guaranteed Income: 30 Days to 65 Years
- Guaranteed Maturity: 30 Days to 60 Years
- Life Long Income: 50 Years to 65 Years
- Long-term Income: 3 Years to 60 Years
|
| Maturity Age |
- Guaranteed Income: 18 Years to 85 Years
- Guaranteed Maturity: 18 Years to 80 Years
- Life Long Income: 55 Years to 85 Years
- Long Term Income: 18 Years to 75 Years
|
| Premium Payment Frequency |
Monthly, Quarterly, Half-yearly, and Yearly |
| Minimum Premium Installments |
- Single Pay: 30,000/-
- Annual: 30,000/-
- Half-yearly: 15,000/-
- Quarterly: 7,500/-
- Monthly: 2,500/-
|
| Policy Term Range |
5 Years to 20 Years |
| Premium Payment Term |
Single Pay, 5, 6, 7, 8, 9, 10,11, 12 Years |
| Maximum Premium Installments |
No limit |
| Riders |
- HDFC Life Income Benefit on Accidental Disability Rider
- HDFC Life Critical Illness Plus Rider
- HDFC Life Protect Plus Rider
- HDFC Life Health Plus Rider - Non-Linked
|
About TATA AIA Smart Income Plus Plan
TATA AIA Life Insurance Smart Income Plus Plan is a Non-Linked, Non-Participating, Individual Life Insurance Savings Plan that meets tomorrow's requirements along with protecting your family and dreams as it makes sure you guaranteed returns for the money invested.
TATA AIA Smart Income Plus Plan Benefits and Features
Higher Life Cover for Peace of Mind
With the TATA AIA Smart Income Plus Plan, you can avail of life coverage to 11 times the annualized premium. This life cover ensures that your family's financial well-being is safeguarded in the face of unforeseen circumstances.
Flexibility: Pay as Per Your Convenience
Choose a premium payment term that aligns with your convenience:
- Regular Income Option: Opt for a premium payment term ranging from 5 to 15 years. This option not only provides you with a steady income stream but also guarantees life insurance coverage, offering financial stability throughout the chosen period.
- Endowment Option: Enjoy an extended range of premium payment terms, ranging from 5 to 30 years. This flexibility caters to a diverse set of financial goals, allowing you to create a plan that fits seamlessly into your long-term aspirations.
Guaranteed Payouts: 120% to 160% of Annualized Premium
One of the cornerstones of this plan is the assurance of guaranteed payouts. Policyholders can get returns ranging from 120% to 160% of the annualized premium, providing a predictable and stable income stream over the policy term.
Choice of Plan Options: Regular Income or Endowment
TATA AIA Smart Income Plus Plan extends the flexibility to choose between Regular Income and Endowment plan options. This empowers policyholders to align their insurance strategy with their unique preferences and long-term objectives.
Tax Benefits as Per the Income Tax Laws
The plan comes with the added advantage of tax benefits under the Income Tax Act, of 1961. Policyholders can optimize their tax liabilities, leveraging the deductions available and enhancing their overall financial planning strategy.
Enhanced Protection with Optional Riders
TATA AIA Smart Income Plus Plan allows individuals to enhance their protection by opting for additional riders. These riders provide supplementary coverage, ensuring a comprehensive and tailored approach to insurance.
Eligibility Criteria for TATA AIA Smart Income Plus Plan
| Plan Options |
- Regular Income Option
- Endowment Option
|
| Entry Age |
Minimum 0 Year to Maximum 65 Years |
| Maturity Age |
Minimum 18 Year to Maximum 85 Years |
| Premium Payment Frequency |
Yearly, Half-yearly, Quarterly and Monthly |
| Minimum Policy Term |
- Regular Income Option– Premium Payment Term+6
- Endowment Option- Regular/Limited Pay: 10
|
| Maximum Policy Term |
- Regular Income Option-51
- Endowment Option- Regular/Limited Pay: 50
|
| Minimum Sum Assured |
11 times Annualized Premium |
| Minimum Premium Payment Term |
- Regular Income Option: 5
- Endowment Option- Regular Pay - 10, Limited Pay - 5
|
| Maximum Premium Payment Term |
- Regular Income Option:15
- Endowment Option- Regular Pay/Limited Pay - 30
|
What to Compare When Choosing Between HDFC Sanchay Plus and TATA AIA Smart Income Plus
When choosing between HDFC Sanchay Plus vs Tata AIA Smart Income Plus, it's important to consider several factors to buy the best plan that aligns with your financial goals and needs. Here are some key factors to consider:
- Premium Rates
- Policy Term
- Riders or Add-ons
- Maturity Benefits
- Death Benefits
- Surrender Value
- Loan Options
- Tax Benefits
- Customer Services
- Flexibility and Customization
- Risk Tolerance
- Terms & Conditions
- Exclusions and more
How to Buy the Best Guaranteed Return Investment Plan Online
To get the best guaranteed return investment plan online go through PolicyBachat is a convenient way to make an informed decision when choosing an investment plan. Here's a step-by-step process on how to compare and buy the best investment plans online:
- Visit the official website of the PolicyBachat.
- Click on the Investment Plan tab.
- Fill in the requested details such as name, mobile number, and email address.
- Enter your age and city.
- Select the plan which you want to buy. Click on the Proceed button.
- Use the online premium calculator to compare the premium amounts.
- Compare benefits, features, returns, and additional riders or bonuses.
- After comparing the products, select a plan which suits your requirements.
- Then pay for your policy by using an online payment method.
HDFC Sanchay Plus Vs TATA AIA Smart Income Plus Comparison –Which is Better?
The choice between HDFC Sanchay Plus and TATA AIA Smart Income Plus ultimately depends on your specific financial goals, risk tolerance, and preferences.
If you prioritize guaranteed benefits, long-term income options, and life-long income, HDFC Sanchay Plus may be more suitable. On the other hand, if you consider a higher life cover, guaranteed payouts, and flexibility in premium payments, TATA AIA Smart Income Plus could be a better fit.
It’s recommended to carefully read the terms and conditions of each plan, considering your unique financial situation, and compare quotes online at PolicyBachat for personalized advice before deciding.
Frequently Asked Questions
What are the Key Differences between HDFC Sanchay Plus and TATA AIA Smart Income Plus?
The key differences between HDFC Sanchay Plus and TATA AIA Smart Income Plus lie in various aspects including features, benefits, premium rates, returns, exclusions, and riders.
Does the HDFC Life Sanchay Plus Plan Have Tax Benefits?
Yes, HDFC Sanchay Plus offers tax benefits under Section 80C and Section 10(10D) of the Income Tax Act 1961.
Which Plan Offers More Flexibility in Premium Payment?
Both HDFC Sanchay Plus Plan and TATA AIA Smart Income Plus allow you to choose the premium payment term based on your convenience.
Which Option in HDFC Sanchay Plus is Best?
HDFC Sanchay Plus depends on your specific financial goals, risk tolerance, and preferences. HDFC Sanchay Plus typically offers various options to cater to different needs
How Do I Compare the Premium Amounts?
You can use the investment plan calculators available on the official websites of HDFC Life and TATA AIA Life Insurance to get an estimate of the premium amounts. Or else you can easily compare investment plans online at PolicyBachat.