- June 28, 2025
- Posted by: jibankrnath101
- Category: financial services
LIC Jeevan Umang and HDFC Life Sanchay Plus
—both are popular for long-term financial planning, but they serve different needs:
| Feature | LIC Jeevan Umang | HDFC Life Sanchay Plus |
|---|---|---|
| Type | Participating Whole Life Plan | Non-Participating Guaranteed Savings Plan |
| Ideal For | Those seeking lifelong coverage + income | Those seeking guaranteed returns + income options |
| Coverage Duration | Up to age 100 | Up to age 99 (in some options) |
| Premium Payment Term | 15, 20, 25, or 30 years | Single, Limited (5–12 yrs), or Regular Pay |
| Survival Benefit | 8% of Sum Assured annually after premium term | Guaranteed income or lump sum (based on option) |
| Maturity Benefit | Sum Assured + Bonuses | Guaranteed maturity benefit |
| Death Benefit | Sum Assured + Bonuses | Sum Assured + Guaranteed Additions |
| Bonus Participation | Yes (Reversionary + Final Bonus) | No (non-participating) |
| Loan Facility | Yes (after 2 years) | Yes (after policy acquires surrender value) |
| Tax Benefits | Under Sections 80C & 10(10D) | Under Sections 80C & 10(10D) |
| Riders Available | Accident, Term, Critical Illness Riders | Accidental Disability, Critical Illness, etc. |
🧭 Which one suits you better?
- Jeevan Umang is like a legacy builder—it offers lifelong protection and regular income, ideal for those who want to leave behind a financial cushion for their family.
- Sanchay Plus is more of a guaranteed planner—great for those who want predictable returns and income, especially for retirement or milestone goals.
As of the latest available data:
LIC (Life Insurance Corporation of India) sold approximately 91.7 lakh individual policies in the first half of FY2025 alone. However, LIC does not publicly break down the number of policies sold by individual plans like Jeevan Umang.
For HDFC Life, the total number of policies sold (individual + group) in a past financial year was around 8.97 lakh, with over 6.1 crore lives covered across all plans. Again, specific figures for Sanchay Plus aren’t disclosed separately.
So while both plans are popular, especially for long-term income and legacy planning, the exact number of policies sold for Jeevan Umang or Sanchay Plus individually isn’t publicly available.
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