Product Quiz

Ms. Shyama Mehta, a widow aged 55 years, works with a private sector company. She has invested in fixed deposits and the National Pension Scheme. She is keen to invest in a life insurance policy but is not sure if this is the right investment for her as she needs to take care of her needs for long. She does not want to depend on her daughter or son-in-law. Is HDFC Life Sanchay Par Advantage a suitable insurance plan for her?

• Yes. This plan will provide her financial protection and a regular income for lifetime so that she doesn't have to depend on anyone.

• No. She should purchase a pension plan instead as it will take care of her post retirement needs.

Ms. Shyama Mehta, a widow aged 55 years, works with a private sector company. She has invested in fixed deposits long. She does not want to depend on her daughter or son-in-law. Is HDFC Life Sanchay Par Advantage a suitable insurance plan for her?

• Yes. This plan will allow him to accrue his survival benefit payouts and receive the accumulated payouts just before his daughter's wedding.

• No. She should purchase a pension plan instead as it will take care of her post retirement needs.

Dr. Gaurav Bajaj is a 36 year old doctor. He runs his own clinic with his wife who is also a doctor. They have twin daughters who study in the second standard.

He wants to understand how HDFC Life Sanchay Par Advantage will help him make the future of his daughters bright. Which benefit of the plan will you pitch to him?

• He can take policy loans at reasonable interest rates at important milestones of his daughters' lives such as going abroad for higher studies or during weddings.

• He will get survival benefit payouts which he may accrue and later withdraw for the higher education of his daughters abroad or spend during their weddings

Mr VARUN KUMAR purchases HDFC Life Sanchay Par Advantage plan with the Deferred Income option for a premium payment term of 8 years. On the 9th policy year, he meets with an accident and passes away. What would be the Death Benefit payable to the nominee, his wife?

• Sum Assured on Death and Terminal Bonus (if declared

• 10 times the Annualized Premium, Sum Assured on Death and Death Multiple x Annualized Premium

Darshan Shashtri, aged 40 years, works with the municipal corporation. He has purchased HDFC Life Sanchay Par Advantage with the Immediate Income option for a premium payment term of 12 years with the choice to accrue the survival benefit payouts. With this plan he aims to provide a retirement income to his parents. Suddenly his father needs a heart surgery and he did not have health insurance. How can this plan help them?

• He can withdraw his accrued income and pay for his father's heart surgery.

• He can't withdraw his accrued income and pay for his father's heart surgery.

• The policy cannot give him any money. His nominees will get the Death Benefit if he passes away.

49:20

Mrs. Ameena Bano, aged 45 years, is a government school teacher. She purchases HDFC Life Sanchay Par Advantage for a premium payment term of 6 years so that she has a supplementary source of income to meet her post retirement requirements. She opts for accruing the survival benefits. In the 9th policy year, she needs money for a medical emergency. Will she be allowed to take the accumulated sum?

• Yes. She can receive the accumulated survival benefit payouts to meet the medical emergency.

• No. Survival Benefits can be paid only on policy anniversaries. She cannot take this amount randomly.

• No. Survival benefits can be paid on the life assured's birthday or marriage anniversary loan. She cannot take this amount randomly.

Mr. Salman Sayyed has purchased HDFC Life Sanchay Par Advantage plan with the Immediate Income option for a premium payment term of 6 years. He wants to confirm whether he will receive any tax benefits on the policy. What will you tell him?

• He will not get tax benefits under this plan

• He will be eligible for tax benefits as per the prevailing tax laws.

Ms. Shivani Mehta, aged 27 years, works in an IT outsourcing company. She plans to get married in the next few years. She is willing to invest in a life insurance policy but is not sure if she can continue to pay the premiums if her life stage changes. Is Sanchay Plus a suitable option for her?

• Yes, as she can select a premium payment term as low as 5 years depending on the option and receive guaranteed benefits later

• No, as she need not invest her funds in premium payment for long terms and can buy an insurance plan later in life

Mr. Salman Sayyed has purchased HDFC Life Sanchay Par Advantage plan with the Immediate Income option for a premium payment term of 6 years. He wants to confirm whether he will receive any tax benefits on the policy. What will you tell him?

• He will not get tax benefits under this plan

• He will be eligible for tax benefits as per the prevailing tax laws.

Mr Pankaj, aged 52 years, purchased Sanchay Plus with the Guaranteed Income Option for a 13 year term to get an income in the later years of her life, so that she is not financially dependent on her children. Identify the percentage of guaranteed income that she would receive each year during the payout period. Select the correct answer from the list below.

• 193% of the annualized premium

• 200% of the annualized premium

• 194% of the annualized premium

• 225% of the annualized premium