HDFC Life Insurance
HDFC Life Insurance Company

HDFC Life Insurance

HDFC Life Insurance Company is dedicated to providing consumers with innovative products and services that enable them to live a “Life of Pride.” It was founded on August 14, 2000. Housing Development Finance Corporation Ltd (HDFC), one of India’s largest housing finance organizations, and Abrdn, a worldwide investment firm, have partnered to form the company.

Protection, Pension, Savings, Investment, Health, and Children and Women plans are among HDFC Life’s products. At an additional cost, the company also offers the option of personalizing the plans by adding alternative features known as riders.

HDFC Life - A Sneak Peek

Equity Share Capital2,018.80 (As On March 31, 2020)
Solvency Ratio1.84 (March 2020)
Claim Settlement Ratio98.01% (FY 2020-21)
Premium UnderwrittenRs. 32, 706. 89 Crores (2019-20)
Number Of Lives Insured (In FY 20-21)Approximately Rs. 4 Crores
Assets Under Management (In FY 20-21)Rs. 1,73,839 Crores
Branches & Partnership Across India390
Recent Awards & Accolades
  • Aegis Graham Bell Awards
  • Elite BW Legal World Top 100 General Counsel Of India 2020
  • ET Best Workplaces For Women 2021
  • ET Digital Warriors Summit & Awards
  • Exchange4Media Primetime Awards 2020
  • Great Place To Work
  • Inkspell Drivers Of Digital Awards
  • LACP Vision Awards 2019-2020
  • SAMMIE 2021
  • Superbrand 2021
  • YUVA Unstoppable Changemaker 2021 Award

Types Of HDFC Life Insurance Plans

Life insurance plans assist you in achieving various objectives by allowing you to create a financial portfolio while being protected by a life insurance policy. HDFC offers a wide range of life insurance plans that ensure that your loved ones are not financially harmed in the event of your death.

1. HDFC Term Life Insurance Plans

HDFC’s Term Insurance plans offer basic coverage to individuals. The company offers two types of term insurance plans:

Name Of The PlanEntry Age (In Years)Coverage Amount
HDFC Life Click 2 Protect Life18 To 65Rs. 50,000 To No Limit
HDFC Life Saral Jeevan Bima18 To 65Rs. 5,00,000 To No Limit
  1. HDFC Life Click 2 Protect Life: HDFC Life Click 2 Protect Life Plan is a benefit plan that adjusts to your changing lifestyle and life stage needs. The plan allows females and non-tobacco users to enjoy special premium rates.
  1. HDFC Life Saral Jeevan Bima: As a standard individual term life insurance plan, the HDFC Life Saral Jeevan Bima is introduced to the customers. When the life assured passes away during the policy term, the sum assured is paid to the nominee in a lump payment.

2. HDFC Life Savings Plans

HDFC’s Savings Plans are life insurance policies that give the individual a different way to save and build a reserve for the future. The company offers the following Savings Plans to its customers:

Name Of The PlanEntry AgeCoverage Amount
HDFC Life Sanchay Plus5 To 60 YearsFor Guaranteed Maturity, Guaranteed Income and Long Term Income: Rs. 12,50,000
For Lifelong Income: Rs. 10,50,000
HDFC Life Sanchay Fixed Maturity Plan90 DaysSingle Premium: ` Rs. 12,500
Regular/Limited Pay: Rs. 70,000
HDFC Life Sanchay Par Advantage30 Days To 65 YearsRs. 3,00,000 To No Limit
HDFC Life ClassicAssure Plus30 Days To 60 YearsRs. 49,447 To Rs. 73516
HDFC Life Super Income Plan30 Days To 59 Years

Limited Pay: Rs. 76,198

Single Pay: Rs. 18,457

HDFC Life Sampoorn Samridhi Plus30 Days To 60 Years₹ 65,463
HDFC Life Uday18 To 55 Years₹ 28,465
HDFC Life Pragati8 To 55 Years₹5,000 To ₹20,00,000
  1. HDFC Life Sanchay Plus: It is a standard savings plan with guaranteed regular returns to help you and your family achieve their goals while protecting their future from unforeseen circumstances. Depending on your needs, you can pick guaranteed income as a lump amount or as a regular income for 10/12/25/30 years or up to 99 years.
  1. HDFC Life Sanchay Fixed Maturity Plan: It’s a non-linked, non-participating individual savings life insurance plan that protects you and your family financially. The policy has an option to choose from Single Life or Joint Life cover.
  1. HDFC Life Sanchay Par Advantage: It’s a savings plan with an immediate income option for day-to-day costs and various financial goals, as well as life cover. You will get assured life cover for up to 100 years of age and also an option to choose from immediate income or deferred income.
  1. HDFC Life ClassicAssure Plus: If you just want to pay premiums for a short time, this is the plan for you. You just have to pay premiums for a period of 7 or 10 years, and you have the option of staying protected. This coverage also includes the option of taking out a loan.
  1. HDFC Life Super Income Plan: It’s a standard money-back policy with added benefits and bonuses. After the premium payment term, you will get a guaranteed monthly income for a period of 8 to 15 years. The plan is suitable for those who need extra money to cover day-to-day expenditures and achieve their goals at different stages of life.
  1. HDFC Life Sampoorn Samridhi Plus: Under this plan, you must pay a premium for a set length of time, and you will be covered until you reach the age of 100. This classic endowment policy is a better method to plan for life’s unforeseen twists and turns. You also have the option of paying your premiums monthly, quarterly, half-yearly, or annually, depending on your needs.
  1. HDFC Life Uday: With the HDFC Life Uday Plan, you may acquire insurance coverage for as little as Rs. 500 per month or Rs. 5000 per year. You simply have to pay a premium for 8 or 10 years to get 12/15 years of coverage.
  1. HDFC Life Pragati: This low-cost policy has flexible terms and conditions. The plan’s monthly charges start at just Rs. 100 per month. You need to pay a one-time premium and remain insured for a period of 5 to 20 years.

3. HDFC Life ULIP Plans

HDFC’s ULIPs enable you to build wealth for long-term goals such as your dream house, your child’s education, your retirement, and more through systematic investments and market-linked returns. HDFC includes the following plans in its ULIPs category:

Name Of The PlanEntry AgeCoverage Amount
HDFC Life Click 2 Wealth30 Days To 60 YearsRs. 5,00,000 To Rs, 8,75,000
HDFC Life Click2Invest ULIP30 Days To 65 YearsRs. 5,00,000
HDFC Life ProGrowth Plus

For Life Option: 14 To 65 Years

For Extra Life Option: 18 To 55 Years

Age Less Than 45 Years:
Higher of 10 x Annualized Premium OR0.5 x Policy Term x Annualized PremiumAge Equal To 45 Years & Above: Higher Of 7x Annualized Premium OR0.25 x Policy Term x Annualized Premium
HDFC SL ProGrowth Super II14 To 65 Years

Age Less Than 45 Years: Higher of

10 x Annualised Premium OR

0.5 x Policy Term x

Annualized Premium

Age Equal To 45 Years & Above: Higher of

7x Annualised Premium OR

0.25 x Policy Term x

Annualized Premium

HDFC SL Crest14 To 55 Years

Minimum Sum Assured

For Less Than 45 Years:

10 x Annualized Premium

For 45 Years & Above:

7 x Annualized Premium

Maximum Sum Assured

20 X Annual Premium

HDFC SL ProGrowth Flexi

For Life Option: 14 To 65 Years

For Extra Life Option: 18 To 55 Years

Minimum Sum Assured

Age Less Than 45 Years: Higher Of 10 x

Annualized Premium

OR 0.5 x Policy Term x

Annualized Premium

Age Equal To 45 Years & Above: Higher Of 7x

Annualized Premium OR

0.25 x Policy Term x

Annualized Premium

Maximum Sum Assured

40 X Annualized Premium

HDFC Life Smart Woman Plan

PROPOSER ENTRY AGE: 18 Years To None

ENTRY AGES FOR FEMALE LIFE TO BE ASSURED: 18 To 45 Years

ENTRY AGES OF SPOUSE FOR ELITE OPTION: 21 Years To 50 Years

Age Less Than 45 Years: 10 X – 40 X Annualized Premium

Age Equal To 45 Years: 7 X – 40 X Annualized Premium

HDFC Life Sampoorn Nivesh30 Days To 70 YearsRs. 50,00,000 To Rs. 35,00,000
HDFC Life Classic One

For Single Life: 0 Years To 40 Years

For Joint Life: 18 To 80 Years

1.25 X Single Premium – 10 X Single Premium
HDFC Life Capital Shield8 To 60 Years

SINGLE PREMIUM

For Less Than, Equal To, & Above 45 Years: 125% Of Single Premium

LIMITED PREMIUM

Less Than 45 Years: 10 X Annualized Premium

Between 45 To 54 Years: 7 X – 10 X Annualized Premium

Equal To & Above 55 Years: 7 X Annualized Premium

  1. HDFC Life Click 2 Wealth: HDFC Life Click 2 Wealth gives you the best of both worlds: market-linked profits and financial security. To maximize your investment, you can choose from ten funds and use the plan’s unlimited free switching option.
  1. HDFC Life Click2Invest ULIP: You may expand your assets with HDFC Life Click2Invest ULIP without jeopardizing your family’s security. You can choose from 11 fund options to meet your investment preferences under the plan.
  1. HDFC Life ProGrowth Plus: While being insured, the HDFC Life Pro Growth Plus Plan lets you create wealth to meet important financial milestones. Based on your risk profile and investment style, you can choose from ten fund options under the plan. The plan will pay additional cash insured to the nominee in the event of accidental death.
  1. HDFC SL ProGrowth Super II: It’s a smart savings-cum-insurance plan for long-term savings. Death, accidental disability, and severe illness are all covered by the plan. The plan also provides 8 benefit options to choose from, including Life Option, Extra Life Option, Life & Extra Health Option, to name a few.
  1. HDFC SL Crest: If you have a shorter investing period, you should choose a Unit Linked Insurance Plan (ULIP) with better returns. HDFC SL Crest is a great option if you’ve left your insurance preparation until the last minute. You will receive market-linked returns and life protection for a period of 10 years after paying premiums for only 5 years. You also have the option of selecting one of the plan’s 10 fund alternatives.
  1. HDFC SL ProGrowth Flexi: The HDFC SL ProGrowth Flexi Plan offers you to choose from 10 fund options. In case of accidental death, the plan allows you to have an additional sum insured. Moreover, the plan contains an option for making a partial withdrawal from funds in order to meet financial emergencies.
  1. HDFC Life Smart Woman Plan: It is unit-linked insurance for women that provides coverage for unforeseen circumstances, the loss of a spouse, and the option to plan for certain life events such as marriage, health, and career. Women can choose from 4 different fund alternatives under the plan. If you experience pregnancy-related problems, the birth of a child with a congenital disease, malignancy in female organs, or the death of your spouse, the plan will waive your future premiums.
  1. HDFC Life Sampoorn Nivesh: HDFC Life Sampoorna Nivesh is an insurance-cum-investment plan with loyalty bonuses and a variety of fund alternatives to help you get the most out of your money. If the insured dies in an accident, the plan will pay the nominee an additional sum assured. In addition, you will receive up to 4 Fund Switches and Future Premium Redirection for free in a policy year.
  1. HDFC Life Classic One: It’s a single-premium unit-linked policy with a one-of-a-kind feature that provides life insurance for two people. The plan allows you to choose between single and joint life insurance. It also includes unrestricted free fund switching between the plan’s 11 funds.
  1. HDFC Life Capital Shield: It’s an investment-cum-insurance plan that invests in both equities and debt funds. The plan allows you to pay a single premium or pay for a restricted term of 5 years and remain insured after that. Depending on your investment objective, you can pick between debt and equity funds.

4. HDFC Life Retirement & Pension Plans

HDFC’s Retirement and Pension Plans assist you in building up a portion of your resources over time to ensure a stable financial future. HDFC offers the following types of retirement and pension plans to its customers:

Name Of The PlanEntry AgePolicy Term
HDFC Life New Immediate Annuity Plan20 Years To 85 YearsLifelong
HDFC Life Pension Guaranteed Plan30 To 85 YearsLifelong
HDFC Life Click 2 Retire18 To 65 Years10, 15, & 35 Years
HDFC Life Guaranteed Pension Plan35 To 70 Years8 To 30 Years
HDFC Life Personal Pension Plus18 To 65 Years10 To 40 Years
HDFC Life Assured Pension Plan18 To 65 Years10, 15, & 35 Years
HDFC Life Saral Pension40 To 80 YearsLifelong
  1. HDFC Life New Immediate Annuity Plan: The HDFC Life New Immediate Annuity Plan is a classic retirement plan that provides guaranteed income at your specified frequency during retirement. You will also receive a refund of the purchase price if you die or suffer a serious illness.
  2. HDFC Life Pension Guaranteed Plan: It’s a single-premium pension plan with the choice of single or joint life insurance for two people’s financial stability. Depending on your financial needs, you might get annuity payments monthly, quarterly, half-yearly, or yearly. The policy also has a loan facility.
  3. HDFC Life Click 2 Retire: If you are an early retiree, it is a market-linked retirement plan that is appropriate for setting your goals. There are no premium allocation fees, policy administration fees, or exit fees with this plan. This retirement plan can be started with as little as 2,000 per month.
  1. HDFC Life Guaranteed Pension Plan: It is a classic pension plan in which you invest for a shorter period of time and receive guaranteed returns as post-retirement income. You’ll also receive a guaranteed death benefit equal to the entire premiums paid to date, accumulated at 6% per year.
  1. HDFC Life Personal Pension Plus: HDFC Life Personal Pension Plus is a classic pension plan that is perfect if you want a stable and consistent retirement income as well as a large enough corpus to meet all of your post-retirement objectives. You can invest for a period of 10 to 40 years and receive an assured reward of 101% of the total premiums paid in the event of death or policy maturity.
  1. HDFC Life Assured Pension Plan: Unit-linked investments in the HDFC Life Assured Pension Plan would provide you with higher returns on your investment. If you’re thinking of retiring early, this plan is for you. Starting in the 11th year, you will also be eligible for loyalty additions every alternate year.
  1. HDFC Life Saral Pension: It’s a standard non-linked annuity plan that gives you basic annuity alternatives and allows you to live life on your own terms. On death, there is also a Return of Purchase Price option. Furthermore, the plan provides the benefit of higher annuity rates for significant purchase prices.

5. HDFC Life Health Insurance Plans

HDFC Health Plans take care of your health expenses while you focus on getting well. The company offers the following health plans under the life insurance category:

Name Of The PlanEntry AgeCoverage Amount
HDFC Life Cardiac Care18 To 65 YearsRs. 2,00,000 To Rs. 50,00,000
HDFC Life Cancer Care5 To 65 YearsRs. 10 Lakhs To Rs. 50 Lakhs
Click 2 Protect Health91 Days To 65 YearsRs. 10,000 To Rs. 50,00,000
HDFC Life Easy Health18 To 65 YearsRs. 25,000 To Rs. 5,00,000
Click 2 Protect Corona Kavach18 To 65 YearsRs. 50,000 To Rs. 5 Lakhs
  1. HDFC Life Cardiac Care: Under HDFC Life Cardiac Care Plan, you will get a cardiac cover of Rs. 10 lakhs for just Rs. 5/day. The plan covers 18 types of heart ailments and provides a fixed lump sum payout in spite of the actual expenses occurring out of diagnosis/procedure.
  2. HDFC Life Cancer Care: HDFC Life Cancer Care provides you with cancer insurance of Rs. 20 lakhs for less than Rs. 4 per day. The plan provides a lump sum benefit in the event of early or major cancer detection. In the event of an early-stage cancer diagnosis, you can also take advantage of the Premium Waiver Benefit for 3 policy years.
  1. Click 2 Protect Health: Click 2 Protect Health is a unique policy that offers coverage of both life and health insurance. Under the plan, you will get a discount of up to 5% on the combined premium. You can get this plan either for an individual or family.
  1. HDFC Life Easy Health: This plan pays a lump sum payment if you are diagnosed with any of the 18 serious illnesses or 138 surgical procedures included in the plan. The plan also provides a cash benefit for hospitalization up to $5,000.
  1. Click 2 Protect Corona Kavach: This COVID-19 combi plan protects your money by covering treatment costs resulting from COVID-19 disease. The plan also provides a Family Floater option to protect your loved ones from COVID-19 financially.

6. HDFC Life Child Insurance Plans

HDFC Offers the following insurance plans as Child Plans:

Name Of The PlanEntry AgeCoverage Amount
HDFC Life Click 2 Wealth – Premium Waiver Option30 Days To 65 Years

Single Pay: 1.25 X Single Premium

Regular & Limited Pay: 10 X Annualized Premium

Top-Up: 1.25 X Top-Up Premium

HDFC SL YoungStar Super Premium18 To 65 Years

MINIMUM

Age Less Than 45 Years: 10 X Annualized Premium

Age Equal To 45 Years & Above: 7 X Annualized Premium

MAXIMUM

40 X Annualized Premium

HDFC Life Youngstar Udaan30 Days To 60 Years

For Aspiration: Rs. 6,25,000

For Academia: Rs. 6,50,000

For Career: Rs. 7,00,000

  1. HDFC Life Click 2 Wealth – Premium Waiver Option: It is a unit-linked child plan that combines insurance and investment. The plan provides you with 10 fund options along with unlimited free switching. For the first 5 years, you will get 1% of annualized premium under the plan as special additions to your fund value.
  1. HDFC SL YoungStar Super Premium: HDFC SL YoungStar Super Premium is a unit-linked plan that allows you to finance your child’s precious moments. After 5 years of your policy, the plan provides you with the option to withdraw from your funds so that you can plan for the various requirements of your child. The plan also has an option to choose from Save and Save-n-Gain benefits.
  1. HDFC Life Youngstar Udaan: It’s a standard money-back plan with customized payout options for your child’s varied life objectives. It comes with 3 payout options that are specifically designed to cater to your child’s various needs. You will also get a lump sum payout of around 140% of the sum assured as well as some additional bonuses on the maturity of the policy.

7. HDFC Life Combo Plans

HDFC Offers the following combo plan that is unusually designed to meet a customer’s diverse needs.

Name Of The PlanEntry AgePolicy Term
HDFC Life Sanchay Maximiser7 To 60 YearsAge At Entry- 100
  1. HDFC Life Sanchay Maximiser: It’s a savings and investment plan that allows you to pursue your goals while also safeguarding your family’s future. From the first year onwards, the plan will give regular income in the form of Cash Bonuses until you reach the age of 100.

8. HDFC Life Group Insurance Plans

When we talk about Group Insurance Plans, HDFC Life Insurance Company has three broad categories: Retirement, Protection, and Health.

i. HDFC Group Retirement Plans

Name Of The PlanEntry AgePolicy Term
HDFC SL Group Traditional Plan18 To 65 Years1 Year To No Limit
HDFC Life Group Unit Linked Pension Plan18 To 74 YearsNo Limit
HDFC Life Group Variable Employee Benefit Plan16 To 75 Years1 Year To No Limit
HDFC Life New Group Unit Linked PlanAs Per The Trust Deeds & Rules For The SchemeNo Limit
HDFC Life New Immediate Annuity Plan20 To 85 YearsNo Limit
  1. HDFC SL Group Traditional Plan: The HDFC Group Traditional Plan is a flexible and cost-effective solution to establish a corpus to meet the demands of all future employees. The entry age for the plan is from 16 years to 75 years. The minimum number of members that can be included in the group is 50.
  2. HDFC Life Group Unit Linked Pension Plan: The plan is designed to give trustees a flexible way to manage their superannuation responsibilities. The plan provides the policyholder with an option to establish the policy either with a single policy account or with individual member-level accounts.
  1. HDFC Life Group Variable Employee Benefit Plan: It is a non-linked non-participating group savings insurance plan which is an effective way for building corpus in order to fund your future needs. For the entire term of the policy, the plan will provide a guaranteed minimum return of 1% per year.
  1. HDFC Life New Group Unit Linked Plan: This is a unit-linked insurance plan that allows you to develop a corpus for your future requirements in a flexible and cost-effective manner. The policy also has in-built insurance coverage of Rs. 1000.
  1. HDFC Life New Immediate Annuity Plan: This is a non-linked traditional annuity plan that gives you a variety of annuity options and allows you to live your life on your own terms, even after you retire. The plan also provides an option to receive annuity on a monthly, quarterly, half-yearly, or yearly basis, till you or your partner is alive.

ii. HDFC Life Group Protection Plans

Name Of The PlanEntry AgeCoverage Amount
HDFC Life Group Poorna Credit Suraksha18 To 79 Years

Minimum Sum Assured is 10,000 per member.

Maximum Sum Assured will be as per the Board Approved Underwriting Policy (BAUP)

HDFC Life Group Credit Protect Plus Insurance Plan14 To 70 YearsMinimum Sum Assured: Rs. 1000
HDFC Life Group Term Insurance Plan16 To 79 YearsRs. 5,000 To No Limit
HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan

For New Members: 18 To 50 Years

For Renewals: 18 To 54 Years

Rs. 2 Lakhs
HDFC Life Group Jeevan Suraksha Plan5 To 80 YearsRs. 1,000 To 2 Lakhs
HDFC Life CSC Suraksha – Term Insurance Plan18 To 55 YearsRs. 30,000 To 2 Lakhs
HDFC Life Group Suraksha14 To 69 YearsRs. 1,000 To 2 Lakhs
HDFC Life Group Poorna Suraksha18 To 79 Years

Minimum Sum Assured is 10,000.

Maximum Sum Assured will be as per the Board Approved Underwriting Policy (BAUP)

Ultra Loan Shield18 To 65 YearsRs. 1000 To 10,000
  1. HDFC Life Group Poorna Credit Suraksha: It’s a non-linked, non-participating group credit life insurance plan that shields members’ families from the financial burden of loan repayment in the event of the covered member’s death or diagnosis of one of the covered serious illnesses during his or her lifetime. The plan provides 3 plan options to choose from: Life Option, Extra Life Option, and Accelerated Critical Illness Option.
  1. HDFC Life Group Credit Protect Plus Insurance Plan: The HDFC Life Group Credit Protect Plus Insurance Plan is a financial institution-specific insurance policy. It will safeguard the insured members’ families from the responsibility of repaying the outstanding loan to the financial institution in the event of death, disability, or critical illness of the insured members.
  1. HDFC Life Group Term Insurance Plan: This plan is an excellent approach for companies to strengthen their ties with their employees. It is a one master policy that covers all the members of the group. The plan is annually renewable.
  1. HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan: This plan ensures financial security for your family members so that they can fulfill their important dreams. The plan provides eligible members with a death benefit of Rs. 2 lakhs for a set annual premium of Rs. 330. The minimum entry age for the plan is 18 years.
  1. HDFC Life Group Jeevan Suraksha Plan: It is a non-linked, non-participating group term micro-insurance plan that provides life coverage to all of your employees or members, that too, at a nominal cost. The plan also provides an option to choose between varying or fixed sum assured for your employees/members.
  1. HDFC Life CSC Suraksha – Term Insurance Plan: It’s a term insurance policy that covers you for the entire duration of the policy. The premium for the plan starts as low as Rs. 134 per annum and the plan also offers a variety of policy terms ranging from 5 to 15 years.
  1. HDFC Life Group Suraksha: The HDFC Life Group Suraksha Plan protects your member’s family from the stress of debt repayment. The plan also gives you the choice of choosing between Level and Decreasing Cover and a cover term ranging from one month to ten years.
  1. HDFC Life Group Poorna Suraksha: HDFC Life Group Poorna Suraksha is a non-linked, non-participating group term insurance plan that provides financial security to employees or members’ loved ones in the event of death or a diagnosis of a covered critical disease during the covered employee’s or members’ lives. The plan offers 3 customized plan options to choose from, namely Life Option, Extra Life Option, and Accelerated Critical Illness Option.
  1. Ultra Loan Shield: The Ultra Loan Shield policy from HDFC Life Insurance is a combination product along with health and protection benefits. It’s a one-of-a-kind plan that protects your customers from debt problems in the case of a medical or life emergency. As a result, your clients’ families will never have to worry about repaying the debt and will be able to live a life of dignity.

iii. HDFC Life Group Health Plans

  • HDFC Life Group Health Shield

HDFC Life Group Health Shield is a fixed-benefit group health insurance plan with two options: a) One Year Renewable Group Health Plan and b) Single Premium Credit Linked Plan. The plan was created for businesses to enable them to provide health insurance benefits to their eemployees/members ensuring that their medical expenses are covered in the event of a medical emergency.

9. HDFC Life POS Plans

The Point of Service (POS) life insurance plan from HDFC gives you access to health care at a cheaper cost. Under the category, the company offers the following plan:

  • HDFC Life Guaranteed Savings Plan

It’s a non-linked, non-participating endowment life insurance plan that allows you to receive a life insurance policy while also building a corpus fund for the future. The entry age for the plan is 8 years and the age at maturity is 18 years.

Why Select HDFC For Life Insurance Plans?

Here are a few reasons why you should get HDFC Life Insurance:

  • Diverse Range Of Plans

HDFC offers a diverse range of products, including term, savings, investment, pension, health, and child plans. You can select the plan that best meets your needs. Each plan has its own set of benefits. HDFC Life Insurance’s products are designed to give economical life insurance. A large selection of products allows you to compare them and select the one that best meets your needs.

  • Healthy Solvency Ratio

A solvency ratio is a financial measure that evaluates a company’s ability to meet its financial obligations. Every insurer must maintain a health solvency ratio of 1.5, according to the IRDAI. The IRDAI requirement is met by HDFC Life Insurance, which has a healthy solvency ratio of 1.84.

  • High Claim Settlement Ratio

For the fiscal year 2020-21, HDFC Life Insurance has a claim settlement ratio of 98.01 %. The greater the company’s Claim Settlement Ratio, the more you can trust it. It shows the total number of claims that were successfully granted by the insurance company out of all the claims received in a given year.

  • Excellent Customer Support

To provide high-quality services to its clients, HDFC Life Insurance adheres to five values: Excellence, People Engagement, Integrity, Customer Centricity, and Collaboration. HDFC Life Insurance has a strong customer service department that is available 24 hours a day, seven days a week.

  • Budget-Friendly Products

HDFC Life Insurance has a reputation for providing high-quality insurance at a low cost. All of the HDFC Life Insurance policies are created to meet your needs at a reasonable cost. Some plans are created to give you as many benefits as possible at a low cost.

How To Calculate Premium For HDFC Life Insurance Plans?

You need to follow the below-mentioned steps for calculating the premium for HDFC Life Insurance plans:

  1. Visit the official website of HDFC Life Insurance company.
  2. Click on the type of life insurance plan for which you wish to calculate the premium.
  3. Click on “Calculate Premium”, enter all the necessary details, and then press on “Continue”.
  4. The premium details will be displayed on the screen.

The following table illustrates premium details of the HDFC Life Cardiac Care plan:

NameGenderAge (In Years)Sum InsuredPolicy TermPremium (Per Annum)
ShaliniFemale28Rs. 2 Lakhs5 YearsRs. 591
HiteshMale31Rs. 7 Lakhs6 YearsRs. 1,335
PriyankaFemale33Rs. 10 Lakhs8 YearsRs. 1,080
AnujMale36Rs. 20 Lakhs10 YearsRs. 1,880

What’s The Buying Process For HDFC Life Insurance Plans?

For buying any of the HDFC Life Insurance Plans, you need to follow the following steps:

ONLINE METHOD

  1. Visit the official website of the company.
  2. Click on the “All Plan” tab and select the plan that you want to purchase.
  3. Click on “Buy Now”, enter all the necessary details, and then press “Next”.
  4. Pay the premium amount and your policy details will be sent to your registered mail address.

OFFLINE METHOD

Please visit your nearest HDFC branch if you prefer to purchase the policy in person. You will obtain all of the insurance information you require when you visit the branch.

However, if you continue to encounter problems, you can seek help from our website.

What’s The Claim Process For HDFC Life Insurance Plans?

The procedure for filing an insurance claim with HDFC Life is as follows:

  1. Inform the company that a claim has been filed.
  2. Once the company gets your notification, it will send you a list of the documents you’ll need to begin the claims process.
  3. Read the letter, gather all papers, and send them off at the nearest HDFC Life branch with the claim form.
  4. The company will next look over your documentation to see if you are entitled to the claim amount.
  5. If the documentation you give is sufficient, the company will accept your claim request, process it as quickly as possible, and pay the policyholder/nominee.
  6. If the claim is denied, the company would inform the individuals of the reasons for the denial.

Basic Documents Required

  • Original policy document
  • Residence proof
  • Photo ID proof
  • FIR (In case of unnatural death)
  • Claimant’s photograph
  • Personalized canceled cheque or bank passbook
  • Duly filled and signed claim form

Frequently Asked Questions

After making a successful payment, you will receive a premium receipt as well as a confirmation email to your registered email address. Visit the company’s customer site onlineinsurance.hdfclife.com to download the premium receipt:
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<li>Select an email address or an application number (enter the 13-digit application number).</li>
<li>Enter your registered phone number as well as your date of birth.</li>
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Please email the company at onlinequery@hdfclife.in with a copy of your bank statement containing the transaction information if you have numerous payment transactions.

Log in to the company’s customer portal onlineinsurance.hdfclife.com to check the status of your application or to learn about any pending requirements

You can either call the company at 1800-266-0315 from your registered contact number between 10:00 a.m. and 7:00 p.m. (all days) or email them at onlinequery@hdfclife.in.

Yes, you can choose to surrender your term life insurance policy if you believe you have no future liabilities in life.

Yes, you have the option to adjust your premium payment frequency at any moment during the policy term.

You can take out up to 60% of your total fund value. The remaining 40% is the bare minimum required to begin your pension.

Even in the event of a disaster, HDFC life child plans provide your child with a financially secure future. The company pledges to provide its investors with the best possible service and a financially secure future.

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