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WorksheetsProduct Quiz
Total questions: 17
Worksheet time: 30mins
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
Mr. Shravan Sardesai, aged 50 years, works in a public sector company and will retire in the next 10 years. He purchased Sanchay Plus with the Life Long Income Option for an 11 year term to supplement his post retirement income. How will he receive the maturity payout?
He will receive a guaranteed income in arrears from the 12th year till he attains 99 years and a return of premium at the end of the payout period, with the option to take the future payouts as a lump sum
He will receive a guaranteed income for 25 years, from the 11th year to the 35th year in arrears and a return of premium at the end of the payout period, with the option to take the future payouts as a lump sum
He will receive a guaranteed income from the 12th year onwards in arrears, for the duration of his whole life
He will receive a guaranteed income for 30 years, from the 11th year to the 40th year in arrears, with the option to take the future payouts as a lump sum
Mr. Darpan Gupta had purchased Sanchay Plus with the Long Term Income Option for a 6 year term. His wife was the nominee in the policy. During the 15th policy year he passed away. His wife wanted to take the future payouts as a lump sum. Can she do so?
Yes, she can take the future payouts as a lump sum under this plan option
No, the future payouts under this plan option are payable only as a regular income to the nominee as per the frequency chosen by the policyholder
No, she will not get any future payouts under this plan option once the life assured passes away
Mr. Chirag Sharma who has purchased Sanchay Plus with the Life Long Income Option will get tax benefits under Sections 80C and 10(10D) of the Income Tax Act.
True
False
May be
Don't know
What is the maximum entry age for joint life cover with 10 time cover in Sanchay Fixed maturity plan
60 years
50 years
65 years
70
Can we withdraw our money on 3rd years from Sanchay fixed maturity plan under Regular or Limited ppt without panalty?
Yes
No
May be
Don't know
Mr. Rohit Kumar who has purchased Sanchay FMP with Single life with 1.25% cover Option will get tax benefits under Sections 80C and 10(10D) of the Income Tax Act.
Yes
No
Maybe
Don't know
What will be the minimum age limit for Joint life With 10 to 15 time cover under Sanchay FMP
8 years
90 days
18 years
Don't know
