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About HDFC Life Insurance
HDFC Life is the oldest and leading life insurance company in India. The company provides different types of life insurance plans, such as term insurance, retirement plans, endowment plans, child plans, ULIPs, and so on, to cater to the unique needs of its customers. Keep reading to find out more about HDFC Life Insurance Plans!
Key Highlights of HDFC Life Insurance
Claim Settlement Ratio
Claim Settlement Duration
Benefits of Purchasing HDFC Life Insurance Plans
The benefits of purchasing HDFC STD Life Insurance Plans are as follows:
- Wide Range of Options: HDFC Life offers a variety of life insurance plans, making it easier for its policyholders to compare and select the most suitable one as per their financial needs. You can compare the plans on the basis of coverage, riders, premiums, inclusions, and exclusions.
- Digital Support: HDFC Life Insurance follows a customer-centric approach to become one of the best life insurance companies in India. The online services and digital customer support offered by the company make it easier for the customer to solve all their doubts and questions related to claims, renewals, purchases, and more.
- High Claim Settlement Ratio: One of the advantages of purchasing HDFC Life Standard Insurance Plans is the high claim settlement ratio, which ensures that in the event of unfortunate events like the death of the insured, the dependents will not have to indulge in the tedious claim settlement process.
- Affordable Premium: The premium is the amount that the insured pays to the insurer in exchange for life protection. Therefore, a high premium might be a financial burden for you. Luckily, HDFC Life Insurance Plans are affordable and fit the budgets of people of all age groups.
- Financial Support: Another major reason to buy HDFC Life Insurance Plans is that they will financially help you. Some types of plans, such as child plans and retirement plans, aid you financially during your later stages of life.
- Peace of Mind: Don’t you feel light knowing that your parents are there to protect you in case of uncertainties? However, parents can only provide emotional support, and for financial support, HDFC Life Insurance Plans are the best. They ensure peace of mind and financial stability even during emergencies like the death of the family’s breadwinner.
- Wealth Creation: Sowing money in HDFC Life Insurance Plans can help you build great wealth in the future. Plans like ULIPs provide policyholders with the dual benefits of life coverage and investment opportunities. Therefore, you can invest your money in different funds of your choice and create wealth in the long run.
- Enhanced Coverage: HDFC Life provides comprehensive coverage to its policyholders. You can buy riders like critical illness benefit riders, accidental death, and disability benefit riders to enhance the coverage of your base life insurance plan. Policyholders might have to pay an extra premium to buy these riders.
Types of HDFC Life Insurance Plans
HDFC Life offers various types of life insurance plans to cater to the unique needs of its policyholders. Find a detailed list of all types of plans offered by the company in the table below:
Type of Life Insurance Plan
HDFC Life Plan Names
Let’s understand each plan in detail!
Term Insurance Plans
Term plans are pure protection life insurance plans. These plans provide financial security to nominees in the event of the demise of the life assured. The following are the features and benefits of HDFC Life Term Insurance Plans:
- Available in three variants to compare and select the most suitable one.
- Payback of all the premiums paid on maturity for surviving the policy tenure.
- Spouse coverage is offered under the same life-term insurance plan.
- Increasing the death benefit option to enhance the sum assured amount up to 200%
- Select from waiver of premium critical illness benefits and waiver of premium disability riders.
HDFC Life Saral Jeevan Bima Plan
- Ensures financial security for your loved ones in case of the unfortunate demise of the life assured.
- Pay the premiums in single, regular, or limited premium payment terms.
- The minimum sum assured is Rs. 5 lakh.
- Pay the premium in monthly, annual, or semi-annual installments.
- Include the HDFC Life Protect Plus rider and the HDFC Standard Life Income Benefit rider to enhance your plan’s coverage.
HDFC Life Smart Protect Plan
- Available in 4 plan options, including level cover, level cover with capital guarantee, decreasing cover, and decreasing cover with capital guarantee.
- Accidental death and disability coverage are offered under the plan.
- Unlimited free switching of the funds.
- The partial withdrawal option is applicable after the lock-in period of 5 years.
- Tax benefits are applicable as per the prevailing provisions of the Income Tax Act, 1961.
HDFC Life Smart Term Pro
- The minimum policy tenure is 15 years, and the maximum is 40 years.
- Pay the premium monthly, annually, or semi-annually at your convenience.
- Get the maturity benefit upon the completion of the policy tenure for surviving the policy period.
- Limited premium payment options of 5, 8, 10, and 12 years.
- Select from 3 death benefit payout options; lump sum, lump sum with family income, and family income payout.
HDFC Life Smart Term Edge
- A comprehensive term insurance plan designed to protect your loved ones.
- The plan is available in three plan options and three variants for each type.
- Return of premium benefits to provide the maturity benefits to policyholders.
- Accidental deaths disability riders and critical illness riders enhance the plan’s coverage.
- Pay a premium on a monthly, half-yearly, or annual basis.
HDFC Life Term with Return of Premium
- The plan provides both maturity and death benefits to policyholders.
- Policyholders get all the premiums paid upon maturity if they survive the policy tenure.
- Premiums can only be paid on an annual basis.
- The maximum maturity age is 65 years.
- The minimum sum assured is Rs. 5 lakh, and the maximum is Rs. 25 lakh.
Savings plans are traditional life insurance products that ensure financial protection for both you and your loved ones. The plans enable you to save wealth for future goals and financial needs. Listed below are some of the best HDFC Life Savings Plans:
HDFC Life Sanchay Plus
- The plan provides lifetime protection to policyholders.
- Policyholders receive guaranteed income upon the completion of the policy's tenure.
- The sum assured payout option can be in a lump sum or regular payments.
- Critical illness plus rider and income benefits on accidental rider options are available to enhance the plan’s coverage.
- Premiums paid against these life insurance plans are eligible for tax exemption under Section 80D of the Income Tax Act.
HDFC Life Guaranteed Income Insurance
- A lump sum is paid to policyholders at the maturity of the policy.
- Long-term savings and protection plan to secure the financial needs of you and your loved ones.
- The premium can either be paid monthly, quarterly, half-yearly, or annually.
- The maximum age of maturity is 99 years, which therefore provides lifelong protection.
- Select from monthly or annual guaranteed income payout options.
HDFC Life ClassicAssure Plus
- Offers lifetime coverage to policyholders.
- You can borrow a loan against your policy in case of financial emergencies.
- A guaranteed reversionary bonus is paid to policyholders throughout the policy tenure.
- Limited premium payment tenure options of 7 years and 10 years.
HDFC Life Sampoorna Jeevan
- Ideal for individuals who want to secure the future of their loved ones and satisfy their financial needs.
- The plan provides life coverage up to 100 years.
- Select from a lump sum payout option or regular income payout method.
- Option to choose from five bonus payout options.
- Pay a premium for a limited time.
HDFC Life Guaranteed Wealth Plus
- Get assured benefits for surviving the policy tenure.
- Choose between regular income or a lump sum payment option.
- Pay premiums either annually, semi-annually, or on a monthly basis.
- Enjoy tax benefits under Section 80D of the Income Tax Act, 1961.
- Limited premium payment option.
HDFC Life Income Advantage Plan
- Secure the financial needs of yourself and your loved ones.
- Enhance your plan’s coverage by purchasing four riders.
- Policyholders are eligible for simple reversionary bonuses and terminal bonuses in addition to the sum assured.
- Enjoy tax benefits as per the prevailing norms of the Income Tax Act of 1961.
- Enjoy life coverage with limited premium payment options.
HDFC Life Saral Bachat Plan
- The plan is available in three variants.
- Select the maturity payout option from the lump sum or regular payment modes.
- Premiums can be paid either on a monthly, half-yearly, or yearly basis.
- Eligible for tax benefits under Section 80D and Section 10 (10D) of the Income Tax Act.
- Enhance the coverage of your plan by purchasing riders.
HDFC Life Secured Income Insurance Plan
- The plan is ideal for individuals with a lower risk appetite. The plan provides better ROI and helps you save more money regularly.
- A death benefit is paid to the nominee with a family payout option.
- Limited payment options are available.
- Buy riders with your base HDFC Life Insurance Plan to enhance its coverage.
- Enjoy tax benefits as per the prevailing sections of the Income Tax Act, 1961.
HDFC Life Star Saver
- Policyholders are eligible for maturity benefits along with loyalty additions.
- Limited premium payment tenure of 5 years to pay the premiums.
- Pay your premium on a monthly, quarterly, or annual basis.
- Enjoy tax benefits under Section 10(10D) and Section 80D of the Income Tax Act.
- Get assured that benefits accrue at the end of each policy year.
ULIPs refer to Unit-Linked Insurance Plans. These types of life insurance plans provide dual benefits to policyholders. Therefore, policyholders get both life coverage and investment opportunities under the same insurance plan. Let’s find out some of the best ULIPs offered by HDFC Life Insurance:
HDFC Life Wealth Maxima
- Option to select from three death benefit variants.
- The choice to switch the variants either during marriage or childbirth.
- Six fund options are available, from which you can choose and invest as per your risk tolerance.
- Top-up benefits on premiums to help you save more.
- Enjoy loyalty additions at the end of the 5th policy year and 10th policy year.
HDFC Life Wealth Elite
- A comprehensive death benefit is paid to the nominees in the event of the demise of the policyholder.
- Pay the premium in full or through a limited premium payment option.
- Get death and maturity benefits in a lump sum or as regular income.
- Select from three rider options to customize your HDFC Life Insurance Plans.
- The plan provides guaranteed income for 30 years.
HDFC Life Capital Shield
- It is an investment plan that provides financial protection in the event of the policyholder's demise and secures their future financial needs.
- Pay a premium in full or for a limited period of 5 years.
- Loyalty additions begin in the sixth policy year.
- The partial withdrawal feature is applicable from the 5th year of the policy.
- Enjoy tax benefits as per the prevailing sections of the Income Tax Act.
HDFC Life Smart Woman Plan
- The plan provides three benefit options.
- This plan is specially designed for women to protect them at each stage of their lives.
- Starting in the 11th year of the policy, get an enhanced allocation rate.
- Under premier and elite options, additional periodic cash payouts are available.
- The minimum entry age is 18 years; however, there is no maximum age.
HDFC Life Click 2 Invest Plan
- Select 11 fund options to invest in as per your risk profile.
- Pay a premium in single pay or regular pay options.
- Buy critical illness plus rider and accidental disability rider to enhance your plan’s coverage.
- Premium redirections in the first four policy years are free.
- Enjoy tax benefits as per the prevailing sections of the Income Tax Act, of 1961.
HDFC Life Click 2 Wealth Plan
- Available with three plan options for policyholders.
- Pay premiums on single, regular, or limited premium payment terms.
- Select and invest in 11 fund options as per your risk appetite.
- Unlimited switches between funds are available.
- The return of mortality charges on a life insurance plan is done at maturity.
HDFC Life ProGrowth Plus
- Select from two life insurance plan options.
- Enhance the coverage of your base life plan by purchasing riders.
- Choose from 10 different fund options to invest as per your risk profile.
- Change the premium payment frequency at any time at your convenience.
- Switch and redirect premiums easily, at your convenience.
HDFC Life Sampoorna Nivesh
- Select from 3 benefit options as per your specific investment needs.
- Analyze your risk profile and select from 10 different fund options.
- Pay the premium for single, regular, or limited premium payment terms.
- Accidental death benefit riders are available to enhance the plan's coverage.
- Loyalty additions are available to increase the fund's value.
Retirement plans ensure financial stability and security during the golden stage of your life. The plan provides a regular stream of income during the individual’s retirement. Find out some of the best HDFC Life retirement plans in the section below:
HDFC Life Pension Guaranteed Plan
- Choice to select from three annuity options; immediate life annuity, immediate life annuity with return of purchase price, and deferred life annuity with return of purchase price.
- You can only purchase the plan with a single payment option.
- Select the benefit payout option from monthly, quarterly, annually, and semi-annually.
- Increase your sum assured with the top-up option.
- Purchase the plan either on a single-life or joint-life basis.
HDFC Life Systematic Retirement Plan
- Select the deferment period to defer the annuities as per your needs.
- Return of total premium upon the demise of the policyholders.
- Pay a premium for a limited period and enjoy whole-life coverage.
- Choose to receive the payouts on a monthly, quarterly, semi-annual, or annual basis.
- Get tax benefits as per the prevailing sections of the Income Tax Act, 1961.
HDFC Life Saral Pension Plan
- Buy the plan either as a joint life cover or single life cover option.
- Return of premium paid upon the death of the policyholder.
- Get assured income for a lifetime.
- Surrender value paid if diagnosed with a critical illness.
- Select the annuity payout frequency on a monthly, quarterly, annual, or semi-annually basis.
HDFC Life Click 2 Retire Plan
- Policyholders can easily purchase this life insurance plan online.
- The plan is available in limited or single-pay options.
- There are no additional charges such as entry fees, exit fees, or others applicable to the plan.
- Assured vesting age to protect your retirement.
- Select the vesting period from 45 to 75 years per your needs.
HDFC Life Personal Pension Plus
- Flexibility to select the policy tenure from 10 to 40 years.
- Option to select from different premium payment options, including a lump sum payment, monthly, quarterly, or annual basis.
- Policyholders are eligible for a terminal bonus at the end of the policy tenure.
- Guaranteed benefits are paid to policyholders on the death or at the vesting of the policy.
- Get participating profits and a reversionary bonus as declared by the company.
HDFC Life Smart Pension Plus Plan
- The plan provides guaranteed annuity income to policyholders.
- Select from single and limited premium payment terms.
- A single retirement plan offers both immediate annuity and deferred annuity.
- Option to choose from 4 different annuity options.
- One plan provides coverage for both single and joint life.
HDFC Life Guaranteed Pension Plan
- Guaranteed additions of 3% of the vesting bonus accrued is paid to policyholders at the end of each policy year.
- Select the premium payment tenure from 5 to 12 years.
- A lump sum vesting addition is paid at the vesting period.
- Assured death benefits are paid upon the demise of the life assured.
- Avail of tax benefits under Section 80D and Section 10(10D) of the Income Tax Act.
Child insurance plans are comprehensive life insurance plans that protect the financial needs of your children. You can buy these plans to ensure quality education, child marriage, and other goals. Here’s a list of some of the best HDFC Life Child Plans:
HDFC Life Young Star Super Premium
- Provides adequate financial coverage for your child.
- You can invest in funds of your choice.
- Customize the plan to meet the unique needs of your child.
- Switch and redirect premiums as per your needs.
- Select from two benefit payment options; save benefit and save-n-gain benefit.
HDFC Life Young Star Udaan
- Select from 3 benefit options that suit your needs.
- Get whole-life coverage by paying a premium for a limited period of time.
- Waive-off premium benefits available under the classic waiver option.
- Guaranteed additions earned in the first 5 years of the policy are paid upon maturity.
- Enjoy tax benefits as per the prevailing sections of the Income Tax Act, of 1961.
HDFC Life Insurance Premium Calculator
HDFC Life Insurance Premium Calculator is an online tool that enables you to calculate the premium that you may have to pay against your life insurance plan. To use the life insurance premium calculator, policyholders simply follow the steps listed below:
- Visit the official website of InsuranceDekho.
- Thereby, provide some personal details such as age, profession, gender, and more.
- Select the plan you want to purchase and include add-ons to your plan.
- Click on the “Calculate Premium” button.
- The premium for your HDFC Life Insurance Plan will be displayed on the screen.
Process To Buy HDFC Life Insurance Online
You can follow the comprehensive guide highlighted in the section below to buy HDFC Life Insurance Plans:
- Identity proof
- Address proof
- Income proof
- PAN card
- Self-attested bank passbook
Steps You Need To Follow
- Visit the official website of InsuranceDekho.
- Select the type of life insurance plan that you want to purchase.
- After this, enter details such as your age, gender, lifestyle habits, investment amount, profession, and so on.
- Based on the details you provide, quotes will be displayed on your screen.
- Compare the features and benefits of each plan. Select the one that best suits your needs.
- Make a premium payment online once the above process is complete.
- HDFC Life Insurance policy document will be sent to your registered email ID.
Process To Claim HDFC Life Insurance Online
HDFC Life Insurance claims settlement process is customer-centric and convenient. Policyholders can follow the below guide to claim their life insurance plan in a few easy steps:
- Original policy bond
- Death claim form
- Govt. issued a death certificate
- Authorized medical records
- Identity proof of the claimant and deceased policyholder
- Passport-size photographs of the nominee
- Cancelled cheque of the claimant
- Employer certificate of the life-assured
- Address proof
- Post-mortem report
- NEFT account details
Steps You Need To Follow
- Visit the official website of HDFC Life Insurance.
- Go to the claim center page of the website.
- Fill out the required details in the claim form.
- Upload all the necessary documents to the portal.
- The insurer will assess all the details and documents you submit.
- The claim settlement process will be completed within 30 days if the insurer is satisfied with all the information you provide.
How To Check HDFC Life Insurance Policy Status Online?
Policyholders of HDFC Life Term Insurance Plans can check the status of their policy online by following a few simple steps mentioned below:
- Go to the “Life Easy” website of HDFC Life Insurance.
- Hit the “Track Claim” button.
- Enter details such as claim ID, policy number, mobile number, and date of birth.
- Click on the “Track” button.
- The status of your HDFC Life insurance claim will be displayed on the screen.
HDFC Life Insurance User Reviews
Latest News on HDFC Life Insurance
- You can easily check the expiry date of your life insurance policy by going to the website of HDFC Life. For more details on why to check the expiry date of HDFC life policy and others, read on.
- There are chances that you might get your HDFC Life insurance policy lost or misplaced, in such a case you need to apply for a duplicate one. Read on to understand the process of getting a duplicate of the HDFC Life policy.
- HDFC Life Term Insurance Premium Calculator lets individuals evaluate the premium amount on the basis of the selected sum assured of their life insurance policy. Read on to know the process of using HDFC Premium Calculator Online!
- You can revive your lapsed HDFC policy by following the process of Reinstatement. To know more about the steps, read on and learn more.
- You can easily apply for a loan with HDFC Life either through an online process or an offline process. There are certain terms and conditions attached when taking loans from HDFC Life. Read on to know all about the HDFC Life loan process.
Claim Process at HDFC Life Insurance
Claim IntimationIn the event of the death of the life assured, the insurance company should be intimated as early as possible.
Submission of DocumentsFor easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
Claim EvaluationAfter successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
Claim SettlementIf claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.
Why to Buy Life Insurance Policy Online from InsuranceDekho
- Tax benefit upto 1,50,000*
- Claim support everyday 10AM-7PM
- 50 Lacs+ happy customers
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FAQ About HDFC Life Insurance
Why should I choose HDFC Life Insurance?
HDFC provides a wide range of Term, Savings, Investment, Pension, Health and Child plans. You can choose the plan that fits your needs and budget. HDFC Life Insurance has a claim settlement ratio of 99.07% for the year 2019-20. HDFC provides 24x7 customer care service.
What type of life insurance plans does HDFC Life offer?
HDFC provides a wide range of term, savings, investment, pension, health and child plans.
What is the Claim Settlement Ratio of HDFC Life for the year 2019-20?
HDFC Life Insurance featured a Claim Settlement Ratio of 99.07% for the year FY 2019-20.
What is the toll-free customer care number of HDFC Life Insurance?
The toll-free customer care number of HDFC Life is 1800 266 9777.
Why should I purchase a life insurance policy online?.
Purchasing life insurance online is fast and convenient, requires minimum paperwork, is economical and provides you with real-time tracking.