HDFC Life Insurance - Sampoorna Jeevan

Pay Premium for a limited term, enjoy Life Insurance Cover for age up to 75 or 100 years.
Option to choose Guaranteed Income Benefit.
Flexible options to avail Income Payouts.
Flexible options to avail potential upside of benefits through bonuses (if declared).
Guaranteed Income Benefit is paid on survival during the policy term, provided all due premiums are paid during the premium payment term.

Minimum age at entry (as on last birthday)
Premium Payment Term (Years) 6 years 8
years 10
years 12
years 15 years
Sampoorna Jeevan 75 - 12 years 10 years 8 years 6 years 3 years
Sampoorna Jeevan 100 - 18 years
Maximum Age at Entry (as on last birthday)

Sampoorna Jeevan 100
Premium Payment Term (Years) 6 years 8
years 10
years 12
years 15 years
Lump Sum Option 60 years 60 years 60 years 58 years 55 years
Income Option 54 years 52 years 50 years 48 years 45 years
Lump Sum with Income Option 45 years 45 years 45 years 45 years 45 years
Income with Lump Sum Option 54 years 52 years 50 years 48 years 45 years

Sampoorna Jeevan 75 : 75 minus age at entry
Sampoorna Jeevan 100 : 100 minus age at entry

Annual
Half- Yearly
Monthly

Sum Assured on Death.
Vested Simple Reversionary Bonuses (SRB)/ vested Simple Reversionary Income Bonus (SRIB), as applicable excluding vested SRB/SRIB already paid, if any declared.
Cash Bonus (CB), if declared excluding cash bonus already paid, if any.
Vested Paid-up Additions, as applicable excluding paid-up additions already encashed, if any.
Terminal Bonus, if declared.

This product offers you the flexibility to choose the fixed maturity age from following maturity age variants
i. Sampoorna Jeevan 75 Under this variant, policy matures at the end of policy year in which you attain age 75 years
ii. Sampoorna Jeevan 100 Under this variant, policy matures at the end of policy year in which you attain age 100 years

Policyholder buying this policy may be eligible for tax benefits under following Sections of the Income Tax Act, 1961, subject to provisions contained therein.
U/S 80C of the Income Tax Act 1961 on your premiums paid
U/S 10(10D) of the Income Tax Act 1961 on the survival and maturity proceeds of your policy

In case you disagree with any of the terms and conditions of the policy, you have a period of 15 days (30 days if the Policy is sourced through Distance Marketing# as provided in Distance Marketing Guidelines IRDA/ADMN/GDL/MISC/059/04/2011 dated 5/04/2011) from the date of receipt of the Policy Document to review the terms and conditions of this Policy and if you disagree with any of the terms and conditions, you shall have the option to return the Policy to the Company for cancellation, stating the reasons for your objections. Upon such Free-Look cancellation, the Company shall return the Premium paid subject to deduction of a proportionate risk Premium for the period of insurance cover in addition to the expenses incurred on medical examination (if any) and the stamp duty charges. All Benefits and rights under this Policy shall immediately stand terminated on the cancellation of the Policy.

Grace Period means the time granted by the insurer from the due date for the payment of premium, without any penalty or late fee, during which time the policy is considered to be inforce with the risk cover without any interruption, as per the terms & conditions of the policy. The grace period for payment of the premium for all types of non-linked insurance policies shall be: fifteen days, where the policyholder pays the premium on a monthly basis; and 30 days in all other cases.

At any time if at least two full years premiums have been paid and if any surrender value is available under the policy, policyholder may obtain a loan on the sole security of the policy and on its proper assignment to the Company. The maximum loan amount advanced at any one time or more than one time shall not exceed 80% of the available surrender value at that point of time subject to minimum amount of Rs. 1,000. The maximum loan amount under this policy will be determined on the basis of a maximum limit of 80% of available surrender value dependent upon the time, at which the loan is being availed and the outstanding policy term.

In order to honour unexpected commitments or needs, a Surrender option is available. This policy can be surrendered if at least two full year s premiums are paid by the Policyholder. Policy cannot be surrendered after the death of the Life Assured. The surrender benefits are payable immediately on surrender and upon payment of the surrender value, the Policy will stand terminated with no further benefits payable under the policy and the Company shall be relieved and discharged from all obligations under this policy thereafter

Policy can be revived during the policy term but within a period of five years from the date of first unpaid premium by submitting the proof of continued insurability to the satisfaction of the board approved underwriting policy and making the payment of all due premiums together with payment of late fees calculated at such interest rate as may be prevailing at the time of the payment. If needed the company may refer it to its medical examiner in deciding on revival of lapsed policy.