Only Premium & Super Premium Cards Discussion

[vaibhav111vaibhav111 is verified member.]

So, I called my relationship manager (RM) because my dad made an excess payment on his credit card. We need that amount to be credited to his savings account. My RM changed again, and he suggested that I could upgrade my and my family's credit cards to the Lifetime Free (LTF) Metal Infinia if I enroll in the HDFC Sanchay insurance plan. Currently, I have the LTF Plastic Infinia, and my dad has a money-back card with a limit of under 3 lakhs. Both of our accounts are now linked in family banking in the Imperia category.

If anyone has experience with this insurance or has gone through a similar process, please share some insights. With Family Banking, I can also get the Infinia card for my immediate family members if they enroll. LE will take place for my dad first, and then the upgrade will be considered 100% as per RM cause he said some enrollement number and he can provide this expection. As for me, I'll transition from the Plastic Infinia to the Metal Infinia. I'm less interested in this for myself. The spending criteria over 6 months won't be considered due cause my dad's my spend where else i haven't but due to that insurance plan both of us upgrade will be done.|

he even mentioned this been going from last month due to merge and he did 15-16 cc to LTF and some FYF.. and offer ended on 31st august but extended till 7th septemeber.

 

[imdjay]

I have this. ROI will be 6%.
But I had this from 3rd party. Should I also ask for LTF Infinia? I hold Regalia First they are not even upgrading it to DCB or other. Also Opened a salary account 3 months back to get a good upgrade.

 

[Rahul Gupta]

So, I called my relationship manager (RM) because my dad made an excess payment on his credit card. We need that amount to be credited to his savings account. My RM changed again, and he suggested that I could upgrade my and my family's credit cards to the Lifetime Free (LTF) Metal Infinia if I enroll in the HDFC Sanchay insurance plan. Currently, I have the LTF Plastic Infinia, and my dad has a money-back card with a limit of under 3 lakhs. Both of our accounts are now linked in family banking in the Imperia category.

If anyone has experience with this insurance or has gone through a similar process, please share some insights. With Family Banking, I can also get the Infinia card for my immediate family members if they enroll. LE will take place for my dad first, and then the upgrade will be considered 100% as per RM cause he said some enrollement number and he can provide this expection. As for me, I'll transition from the Plastic Infinia to the Metal Infinia. I'm less interested in this for myself. The spending criteria over 6 months won't be considered due cause my dad's my spend where else i haven't but due to that insurance plan both of us upgrade will be done.|

he even mentioned this been going from last month due to merge and he did 15-16 cc to LTF and some FYF.. and offer ended on 31st august but extended till 7th septemeber.

He must be asking for high value plan? Can you give some details on this plan? And can he increase limit and upgrade to infinia without income docs?

 

[Copycat]

I have 3 Sanchay plans. They are good ones.
The last time I checked the Sanchay plans (pre-pandemic, so some years ago) I found that these offer an ROI almost comparable to bank FDs. That was in part due to some tax benefit available then. I'm not sure if that tax benefit has been withdrawn for new plans in the last 1-2 years.

What's the value of the plan he is proposing? As I said I have 3 Sanchay plans plus 4 other HDFC policies (all active and 6 of them still in premium paying mode) and HDFC is not even willing to offer me Millennia on an LTF basis

Here's the brochure:

https://www.hdfclife.com/content/dam/hdfclifeinsurancecompany/products-page/brochure-pdf/Sanchay-Plus_v09-brochure.pdf

 

[vaibhav111vaibhav111 is verified member.]

So, I called my relationship manager (RM) because my dad made an excess payment on his credit card. We need that amount to be credited to his savings account. My RM changed again, and he suggested that I could upgrade my and my family's credit cards to the Lifetime Free (LTF) Metal Infinia if I enroll in the HDFC Sanchay insurance plan. Currently, I have the LTF Plastic Infinia, and my dad has a money-back card with a limit of under 3 lakhs. Both of our accounts are now linked in family banking in the Imperia category.

If anyone has experience with this insurance or has gone through a similar process, please share some insights. With Family Banking, I can also get the Infinia card for my immediate family members if they enroll. LE will take place for my dad first, and then the upgrade will be considered 100% as per RM cause he said some enrollement number and he can provide this expection. As for me, I'll transition from the Plastic Infinia to the Metal Infinia. I'm less interested in this for myself. The spending criteria over 6 months won't be considered due cause my dad's my spend where else i haven't but due to that insurance plan both of us upgrade will be done.|

he even mentioned this been going from last month due to merge and he did 15-16 cc to LTF and some FYF.. and offer ended on 31st august but extended till 7th septemeber.

I forget to mentioned cause it was late at night when I Compose this message for fyf any plan will do for ltf it need be minimum 30k p.m for my immediate family cause means my sister and My brother in law cause both don't have imperia banking cause I gave the phone number and he checked and limit is less than 7 lakhs. For me he can find a workfound I already ltf plastic infinia. But enrollment need to be done otherwise no ltf metal infinia for anyone.

 

[vaibhav111vaibhav111 is verified member.]

I have this. ROI will be 6%.
But I had this from 3rd party. Should I also ask for LTF Infinia? I hold Regalia First they are not even upgrading it to DCB or other. Also Opened a salary account 3 months back to get a good upgrade.

Nope it won't be provided.. I'm getting this offer only cause hdfc merged took place and offer got extended and I called him and I have imperial account with good amount for years. And on my basis of Imperia he is extending to my dad's cause family grouping he did and for my sister and immediate family. If I backout it can't take place.

 

[vaibhav111vaibhav111 is verified member.]

He must be asking for high value plan? Can you give some details on this plan? And can he increase limit and upgrade to infinia without income docs?

30k p.m and imperia banking is required and this offer or thing the rm should be allowed to give to you. And he multiple time said as a expection he can provide and this is not know or allowed only certain individual with good imperia banking or NRV / loans they have with hdfc can get this offer if their rm can that privilege.

 

[shubhamosy]

i called my RM, He said no such offer is running. 🙁 🙁

 

[vaibhav111vaibhav111 is verified member.]

I have 3 Sanchay plans. They are good ones.
The last time I checked the Sanchay plans (pre-pandemic, so some years ago) I found that these offer an ROI almost comparable to bank FDs. That was in part due to some tax benefit available then. I'm not sure if that tax benefit has been withdrawn for new plans in the last 1-2 years.

What's the value of the plan he is proposing? As I said I have 3 Sanchay plans plus 4 other HDFC policies (all active and 6 of them still in premium paying mode) and HDFC is not even willing to offer me Millennia on an LTF basis

Here's the brochure:

https://www.hdfclife.com/content/dam/hdfclifeinsurancecompany/products-page/brochure-pdf/Sanchay-Plus_v09-brochure.pdf

Yes he Did mention tax benefit is there and I'm really a noob in term of insurance. So I kept insiting I ain't interested cause I ain't paying each month. He said some 2nd year plan that give return I have to pay half of the premium. So like i said I'm happy with plastic infinia but just for dad's im thinking cause I done fd multiple of time if I go through the broucher and ask question through call, even though he read to meet me in person. But if I get interested will add immediate family and get all upgrade cause why not they all don't have rm and imperia banking but need to discuss with them isn't Mt cup of tea. So let see I really wanna considered on term of ROI which you mentioned is good enough if that work will do.

 

[vaibhav111vaibhav111 is verified member.]

i called my RM, He said no such offer is running.

I can't say comment on that. I'm not making up if i go ahead and thing moves ahead will update here that all I can do.

 

[imdjay]

30k p.m and imperia banking is required and this offer or thing the rm should be allowed to give to you. And he multiple time said as a expection he can provide and this is not know or allowed only certain individual with good imperia banking or NRV / loans they have with hdfc can get this offer if their rm can that privilege.

I hold preferred salary account and a huge term with this existing plan. That should do. Right? I can take that 30k per month too. Will connect with my RM tomorrow.

What about the term of the plan you are taking? I believe the minimum is of 6yr.

 

[shubhamosy]

I can't say comment on that. I'm not making up if i go ahead and thing moves ahead will update here that all I can do.

I'm not trying to tell you anything, but I'm desperate for infinia. I phoned my RM, and he replied that there was no such offer, which made me unhappy.

Currently i hold DCB with 8L limit

 

[gamersgzb]

Read this... Usually ULIPS are not good investments.. it's better to take life insurance, health insurance separately and invest in mutual funds for long term.. with proper asset allocation and re balancing..

HDFC Life Sanchay Plus Review: The good and the bad - CNBC TV18

Business News: Get the latest Business News, Live Share & Stock Market Updates, Top News from India and across world. Read Top Business News and updates on financial, economic and banking news on CNBCTV18.

www.cnbctv18.com

And check this

https://m.facebook.com/groups/asanideasforwealth/permalink/4809547315782790/?mibextid=9R9pXO

 

[theglobalinvestor]

Your RM is full of shit!

He is just trying to sell you insurance by baiting you with infinia. Both can be done independently. He is simply making one dependent on the other to reach his quota and get his commission.

Go for it if you want the benefits he is offering.

 

[vaibhav111vaibhav111 is verified member.]

Will check n thanks

Read this... Usually ULIPS are not good investments.. it's better to take life insurance, health insurance separately and invest in mutual funds for long term.. with proper asset allocation and re balancing..

HDFC Life Sanchay Plus Review: The good and the bad - CNBC TV18

Business News: Get the latest Business News, Live Share & Stock Market Updates, Top News from India and across world. Read Top Business News and updates on financial, economic and banking news on CNBCTV18.

www.cnbctv18.com

And check this

https://m.facebook.com/groups/asanideasforwealth/permalink/4809547315782790/?mibextid=9R9pXO

i

 

[Copycat]

Read this... Usually ULIPS are not good investments.. it's better to take life insurance, health insurance separately and invest in mutual funds for long term.. with proper asset allocation and re balancing..

HDFC Life Sanchay Plus Review: The good and the bad - CNBC TV18

Business News: Get the latest Business News, Live Share & Stock Market Updates, Top News from India and across world. Read Top Business News and updates on financial, economic and banking news on CNBCTV18.

www.cnbctv18.com

And check this

https://m.facebook.com/groups/asanideasforwealth/permalink/4809547315782790/?mibextid=9R9pXO

For me, this plan was a good investment. You can see it in the guaranteed post tax returns in the article that you cited. Those were higher than the post tax returns on an FD at that time

I already contribute to PPF. Mandatorily to EPF and also put in a decent sum via VPF. I have no daughter. So I've already exhausted all the tax free interest/maturity options

I've been holding MFs since the early 2000s and until about 2017 the returns were dismal. I never ever sold any units. The fund houses did it on their own by closing and merging schemes (and it was always to my detriment). It's only in the last 5-7 years when I've actively monitored everything that the returns have improved. Counting NPS 1, 2 (different fund houses, different allocations) and my MFs I'd say my MF portfolio is averaging around 9-10% at most, post tax. Again, nothing to write home about considering the inherent risk.

You have the right idea when you said "proper asset allocation and rebalancing"? How many people in India (as a percentage of those who invest in MFs either via SIP or non SIP routes) know how to do that*? If you take the performance of all MFs in India as a whole, it's my gut feel that the returns will be less than even FD returns. If someone has the time and inclination to do this calculation, I'm sure it would be very informative


*I do a rudimentary form of it and I think it partly boils down to just inspired guesswork (and I'm not happy with it as inspired guesswork is not very different from speculation). How exactly do you do it?

 

[gamersgzb]

How exactly do you do it?

Currently i am only doing the SIP part.. i started my investment from 2016 via SIP route.. i do have the proper asset allocation in terms of amount i put in SIP.. but i am not doing any re balancing at the time.. i
I did plan it to start from this year end but now I have already sold every thing in July as I needed the amount for something..
So as now starting again from scratch will start doing proper re balancing hopefully from next year...

 

[harshit_agrawal]

Your RM is lying as far as I can say, and if you take this plan through agent then you will get around 20-25% cashback on 1st year premium. Plan is good, I have explored it multiple times, but ICICI prudential plans every time offers little more.
Moreover, if you really want to go ahead with this, then say to your RM to give this in writing over email. And also confirm this offer with RM supervisor.

 

[shubhamosy]

@vaibhav111 Any new information on this?

My RM is now ready after I pushed him.
called for 5L in investments per year, however after viewing the PDF and the contents of plan, I think this is a waste of money.

 

[vaibhav111vaibhav111 is verified member.]

@vaibhav111 Any new information on this?

My RM is now ready after I pushed him.
called for 5L in investments per year, however after viewing the PDF and the contents of plan, I think this is a waste of money.

Pls share me the pdf and for me I said sorry to my rm can't invest 5 lakhs rightaway and in 5th year I can surrender too. He tried his best mentioned you will immediate income of 2.10 lakhs from 2nd year.