The Sanchay Plus and Sanchay Par under HDFC Life Sanchay Plans differ in terms of the nature of maturity benefit payouts. The HDFC Life Sanchay Plus policy offers steady retirement income in the life-long payout option. The HDFC Life Sanchay Par Advantage policy on the other hand offers guaranteed income for a stipulated income period where the payout amount increases every year. Moreover, the Sanchay Par plan offers both immediate income and deferred income format which is not the case in Sanchay Plus.