Eligibility Criteria For HDFC Life Sanchay Legacy

Before purchasing Sanchay Legacy, it is important to understand the eligibility criteria to ensure the plan aligns with your long term wealth creation and income goals. This policy is designed for individuals seeking guaranteed returns, stable future income, and financial security for their families through disciplined savings and insurance protection.

1. Minimum Entry Age – The policy can be purchased from as early as 30 days of age, allowing parents to plan early for their child’s financial future.
2. Maximum Entry Age – Individuals can enter the plan up to 60 years of age, making it suitable for both young earners and those planning retirement income.
3. Maximum Maturity Age – The policy can continue up to 85 years, ensuring long-term income protection and wealth stability.
4. Policy Term – The available policy terms range between 15 and 30 years, depending on the chosen plan variant and income structure.
5. Premium Payment Term – Limited pay options are available, allowing policyholders to complete premium payments early while enjoying benefits for longer durations.
6. Minimum Sum Assured – The minimum coverage amount is defined as per insurer guidelines and varies based on age, premium, and policy structure.
7. Residency Status – Both Indian residents and NRIs are eligible to purchase the plan, subject to underwriting and policy terms.
8. Medical Underwriting – Eligibility depends on age, health condition, lifestyle habits, and occupation, with medical tests required in certain cases. Purchasing Sanchay Legacy early helps secure lower premiums, higher bonus accumulation, and long-term guaranteed income benefits.

Unique Features of HDFC Life Sanchay Legacy

Sanchay Legacy offers a powerful combination of guaranteed income and long-term wealth creation, making it one of the most preferred participating savings insurance plans in India. It is designed for individuals seeking financial stability, predictable returns, and lifelong protection while building a strong financial legacy for their families:

1. Guaranteed Income Payouts – The plan provides assured income payouts for fixed durations, helping policyholders meet regular financial needs and long-term goals with certainty.
2. Annual and Terminal Bonuses – Policyholders benefit from yearly bonuses and terminal bonuses, which enhance the overall maturity value and long-term returns.
3. Limited Premium Payment – Premiums are payable for a limited period, while benefits continue for a much longer duration, improving affordability and long-term value.
4. Life Cover Protection – The plan offers life insurance coverage throughout the policy term, ensuring financial security for dependents.
5. Flexible Income Options – Policyholders can choose to receive income either monthly or annually based on personal cash flow needs.
6. Guaranteed Additions – Selected plan variants offer guaranteed additions that further increase the policy’s maturity and income benefits.
7. Customizable Income Start Date – The flexibility to choose when income payouts begin allows better financial planning for retirement or future milestones.
8. Participating Plan Benefits – As a participating plan, policyholders share in the insurer’s profits through bonuses, enhancing overall returns.
9. Tax Benefits – Premiums and payouts are eligible for tax benefits under prevailing income tax laws, subject to policy conditions.
10. Low Risk Long-Term Returns – The plan provides stable, predictable returns, making it suitable for conservative investors seeking secure wealth accumulation.

Benefits of Sanchay Legacy Insurance Plan

Sanchay Legacy delivers comprehensive financial protection while helping you build a reliable income stream for important life goals such as retirement planning, children’s education, and long-term wealth creation. The plan combines insurance security with guaranteed and bonus-linked returns, making it ideal for individuals seeking stable and predictable financial growth.

1. Life Insurance Coverage – Provides financial protection to your family in case of unforeseen events, ensuring their long-term security.
2. Guaranteed Income Payouts – Offers assured regular income to support lifestyle needs and long-term financial commitments.
3. Maturity Benefits – Includes bonuses and guaranteed additions that enhance overall maturity value and wealth accumulation.
4. Retirement Income Planning – Regular income options help create a steady cash flow during retirement years.
5. Lump Sum Maturity Option – Allows policyholders to receive accumulated benefits as a lump sum for major financial goals.
6. Tax Benefits – Premiums paid are eligible for deductions under Section 80C, and maturity benefits are tax-free under Section 10(10D), subject to prevailing tax laws.
7. Market Volatility Protection – Offers assured returns unaffected by stock market fluctuations, ensuring capital safety.
8. Low-Risk Savings Solution – Ideal for conservative investors looking for stable, long-term savings with insurance protection.
9. Flexible Payout Structure – Policyholders can customize income payout options based on financial needs.
10. Long-Term Financial Peace of Mind – Supports lifelong financial planning with guaranteed protection and predictable returns.

Exclusions Under Sanchay Legacy

To maintain transparency, Sanchay Legacy includes certain exclusions under which claims may not be payable. These exclusions are standard across most life insurance savings plans and ensure fair underwriting practices.

Death due to suicide within the first 12 months from policy commencement or revival is not covered, and in such cases, the insurer refunds only the premium paid after deducting applicable charges. Claims arising from fraudulent disclosures, material misrepresentation, or concealment of medical history may also be rejected. Any exclusions applicable to riders, if selected, will be governed by their respective terms and conditions. Policyholders are advised to carefully review the policy document for complete and updated exclusion details

Waiting Period in Sanchay Legacy

Understanding waiting periods is essential for setting realistic benefit expectations and ensuring smooth claim settlement.

Sanchay Legacy includes a suicide exclusion period of 12 months from policy commencement or revival, during which full death benefits are not payable. Certain benefits may also become applicable only after the policy is revived, as per insurer guidelines. Additionally, rider benefits, if selected, may have separate waiting periods depending on rider-specific terms. After completion of applicable waiting periods, full policy benefits become payable as per coverage terms.

Why Choose Sanchay Legacy for Long-Term Financial Planning?

Sanchay Legacy is designed for individuals who want guaranteed income, long-term wealth creation, and secure financial planning without exposure to market risks. With assured payouts, bonus-linked benefits, and life insurance protection, the plan is ideal for conservative investors seeking stable returns and lifelong financial security:

1. Retirement Income Planning – Provides a steady and predictable income stream to support post-retirement living expenses
2. Children’s Education and Marriage Goals – Helps build a strong financial foundation for major life milestones.
3. Wealth Accumulation with Guaranteed Benefits – Enables disciplined savings with assured maturity and income payouts.
4. Risk Free Long Term Investment Planning – Offers stable returns unaffected by market fluctuations.
5. Legacy Creation for Dependents – Helps create long-term financial security and inheritance planning for family members.