HDFC Life Insurance is the oldest and leading life insurance company in India. HDFC Life Insurance is one of the most reputed insurance companies in India and is known for offering a variety of life insurance products depending on the needs of their various customers Such as term insurance, retirement plans, endowment plans, child plans, ULIPs, and so on, to cater to the unique needs of its customers.
Source: The Hindu Business Line
You can compare and apply for an insurance policy both online and offline.
1.Benefits of Purchasing HDFC Life Insurance Plans
The benefits of purchasing HDFC STD Life Insurance Plans are as follows:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- Key Highlights of HDFC Life Insurance
Highlights All Details Founded In In Year 2000 Headquarters In Mumbai Claim Settlement Ratio 99.39% Branch Offices 498 all over India Claim Settlement Duration Within 24 hours
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:
- Click on the “Track” button.
- Enter details such as claim ID, policy number, mobile number, and date of birth.
- Go to the “Life Easy” website of HDFC Life Insurance.
- Hit the “Track Claim” button.
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The status of your HDFC Life insurance claim will be displayed on the screen.2.Types of HDFC Life Insurance Planshttps://youtu.be/sjqIoTIHerA?si=APHcggYfkzkAvO4y
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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:
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Type of Life Insurance Plan HDFC Life Plan Names Term Insurance Plans · HDFC Life Click 2 Protect Super · HDFC Life Saral Jeevan Bima Plan
· HDFC Life Smart Protect Plan
· HDFC Life Smart Term Edge
· HDFC Life Smart Term Pro
· HDFC Life Term with Return of Premium
Savings Plan · HDFC Life Classic Assure Plus · HDFC Life Guaranteed Income Insurance
· HDFC Life Guaranteed Wealth Plus
· HDFC Life Income Advantage Plan
· HDFC Life Sampoorna Jeevan
· HDFC Life Sanchay Plus
· HDFC Life Saral Bachat Plan
· HDFC Life Secured Income Insurance Plan
· HDFC Life Star Saver
ULIPs · HDFC Life Capital Shield · HDFC Life Click 2 Invest Plan
· HDFC Life Click 2 Wealth Plan
· HDFC Life ProGrowth Plus
· HDFC Life Sampoorna Nivesh
· HDFC Life Smart Woman Plan
· HDFC Life Wealth Elite
· HDFC Life Wealth Maxima
Retirement Plans · HDFC Life Click 2 Retire Plan · HDFC Life Guaranteed Pension Plan
· HDFC Life Pension Guaranteed Plan
· HDFC Life Personal Pension Plus
· HDFC Life Saral Pension Plan
· HDFC Life Smart Pension Plus Plan
· HDFC Life Systematic Retirement Plan
Child Plans · HDFC Life Young Star Super Premium · HDFC Life Young Star Udaan
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:
HDFC Life Click 2 Protect Super
- Available in three variants to compare and select the most suitable one.
- Increasing the death benefit option to enhance the sum assured amount up to 200%
- Payback of all the premiums paid on maturity for surviving the policy tenure.
- Select from waiver of premium critical illness benefits and waiver of premium disability riders.
- Spouse coverage is offered under the same life-term insurance plan.
HDFC Life Saral Jeevan Bima Plan
- Ensures financial security for your loved ones in case of the unfortunate demise of the life assured.
- Include the HDFC Life Protect Plus rider and the HDFC Standard Life Income Benefit rider to enhance your plan’s coverage.
- Pay the premium in monthly, annual, or semi-annual installments.
- Pay the premiums in single, regular, or limited premium payment terms.
- The minimum sum assured is Rs. 5 lakh.
HDFC Life Smart Term Pro
- 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.
- Pay the premium monthly, annually, or semi-annually at your convenience.
- Select from 3 death benefit payout options; lump sum, lump sum with family income, and family income payout.
- The minimum policy tenure is 15 years, and the maximum is 40 years.
HDFC Life Smart Term Edge
- A comprehensive term insurance plan designed to protect your loved ones.
- Accidental deaths disability riders and critical illness riders enhance the plan’s coverage.
- Pay a premium on a monthly, half-yearly, or annual basis.
- Return of premium benefits to provide the maturity benefits to policyholders.
- The plan is available in three plan options and three variants for each type.
HDFC Life Term with Return of Premium
- 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.
- The plan provides both maturity and death benefits to policyholders.
Savings Plan
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 Guaranteed Wealth Plus
- Choose between regular income or a lump sum payment option.
- Enjoy tax benefits under Section 80D of the Income Tax Act, 1961.
- Get assured benefits for surviving the policy tenure.
- Limited premium payment option.
- Pay premiums either annually, semi-annually, or on a monthly basis.
HDFC Life Saral Bachat Plan
- 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.
- Premiums can be paid either on a monthly, half-yearly, or yearly basis.
- Select the maturity payout option from the lump sum or regular payment modes.
- The plan is available in three variants.
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.
- Select from monthly or annual guaranteed income payout options.
- The maximum age of maturity is 99 years, which therefore provides lifelong protection.
- The premium can either be paid monthly, quarterly, half-yearly, or annually.
HDFC Life Smart Protect Plan
- Accidental death and disability coverage are offered under the plan.
- Available in 4 plan options, including level cover, level cover with capital guarantee, decreasing cover, and decreasing cover with capital guarantee.
- Tax benefits are applicable as per the prevailing provisions of the Income Tax Act, 1961.
- The partial withdrawal option is applicable after the lock-in period of 5 years.
- Unlimited free switching of the funds.
HDFC Life Sanchay Plus
- Critical illness plus rider and income benefits on accidental rider options are available to enhance the plan’s coverage.
- Policyholders receive guaranteed income upon the completion of the policy’s tenure.
- Premiums paid against these life insurance plans are eligible for tax exemption under Section 80D of the Income Tax Act.
- The plan provides lifetime protection to policyholders.
- The sum assured payout option can be in a lump sum or regular payments.
HDFC Life ClassicAssure Plus
- A guaranteed reversionary bonus is paid to policyholders throughout the policy tenure.
- Limited premium payment tenure options of 7 years and 10 years.
- Offers lifetime coverage to policyholders.
- You can borrow a loan against your policy in case of financial emergencies.
HDFC Life Secured Income Insurance Plan
- A death benefit is paid to the nominee with a family payout option.
- 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.
- Limited payment options are available.
- The plan is ideal for individuals with a lower risk appetite. The plan provides better ROI and helps you save more money regularly.
HDFC Life Star Saver
- 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.
- Limited premium payment tenure of 5 years to pay the premiums.
- Pay your premium on a monthly, quarterly, or annual basis.
- Policyholders are eligible for maturity benefits along with loyalty additions.
HDFC Life Sampoorna Jeevan
- Ideal for individuals who want to secure the future of their loved ones and satisfy their financial needs.
- Option to choose from five bonus payout options.
- Pay a premium for a limited time.
- Select from a lump sum payout option or regular income payout method.
- The plan provides life coverage up to 100 years.
ULIPs
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 Click 2 Invest Plan
- Buy critical illness plus rider and accidental disability rider to enhance your plan’s coverage.
- Enjoy tax benefits as per the prevailing sections of the Income Tax Act, of 1961.
- Pay a premium in single pay or regular pay options.
- Premium redirections in the first four policy years are free.
- Select 11 fund options to invest in as per your risk profile.
HDFC Life Wealth Elite
- A comprehensive death benefit is paid to the nominees in the event of the demise of the policyholder.
- Get death and maturity benefits in a lump sum or as regular income.
- Pay the premium in full or through a limited premium payment option.
- Select from three rider options to customize your HDFC Life Insurance Plans.
- The plan provides guaranteed income for 30 years.
HDFC Life Capital Shield
- Enjoy tax benefits as per the prevailing sections of the Income Tax Act.
- It is an investment plan that provides financial protection in the event of the policyholder’s demise and secures their future financial needs.
- Loyalty additions begin in the sixth policy year.
- Pay a premium in full or for a limited period of 5 years.
- The partial withdrawal feature is applicable from the 5th year of the policy.
HDFC Life Wealth Maxima
- Enjoy loyalty additions at the end of the 5th policy year and 10th policy year.
- Option to select from three death benefit variants.
- Six fund options are available, from which you can choose and invest as per your risk tolerance.
- The choice to switch the variants either during marriage or childbirth.
- Top-up benefits on premiums to help you save more.
HDFC Life Smart Woman Plan
- Starting in the 11th year of the policy, get an enhanced allocation rate.
- The minimum entry age is 18 years; however, there is no maximum age.
- The plan provides three benefit options.
- This plan is specially designed for women to protect them at each stage of their lives.
- Under premier and elite options, additional periodic cash payouts are available.
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.
- The return of mortality charges on a life insurance plan is done at maturity.
- Unlimited switches between funds are available.
HDFC Life ProGrowth Plus
- Change the premium payment frequency at any time at your convenience.
- Choose from 10 different fund options to invest as per your risk profile.
- Enhance the coverage of your base life plan by purchasing riders.
- Select from two life insurance plan options.
- Switch and redirect premiums easily, at your convenience.
HDFC Life Sampoorna Nivesh
- Accidental death benefit riders are available to enhance the plan’s coverage.
- Analyze your risk profile and select from 10 different fund options.
- Loyalty additions are available to increase the fund’s value.
- Pay the premium for single, regular, or limited premium payment terms.
- Select from 3 benefit options as per your specific investment needs.
Retirement Plans
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.
- Increase your sum assured with the top-up option.
- Purchase the plan either on a single-life or joint-life basis.
- Select the benefit payout option from monthly, quarterly, annually, and semi-annually.
- You can only purchase the plan with a single payment option.
HDFC Life Systematic Retirement Plan
- 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.
- Pay a premium for a limited period and enjoy whole-life coverage.
- Return of total premium upon the demise of the policyholders.
- Select the deferment period to defer the annuities as per your needs.
HDFC Life Saral Pension Plan
- Buy the plan either as a joint life cover or single life cover option.
- Get assured income for a lifetime.
- Return of premium paid upon the death of the policyholder.
- Select the annuity payout frequency on a monthly, quarterly, annual, or semi-annually basis.
- Surrender value paid if diagnosed with a critical illness.
HDFC Life Click 2 Retire Plan
- Assured vesting age to protect your retirement.
- Policyholders can easily purchase this life insurance plan online.
- Select the vesting period from 45 to 75 years per your needs.
- 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.
HDFC Life Personal Pension Plus
- Flexibility to select the policy tenure from 10 to 40 years.
- Get participating profits and a reversionary bonus as declared by the company.
- Guaranteed benefits are paid to policyholders on the death or at the vesting of the policy.
- 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.
HDFC Life Smart Pension Plus Plan
- A single retirement plan offers both immediate annuity and deferred annuity.
- One plan provides coverage for both single and joint life.
- Option to choose from 4 different annuity options.
- Select from single and limited premium payment terms.
- The plan provides guaranteed annuity income to policyholders.
HDFC Life Guaranteed Pension Plan
- 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.
- 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.
Child Plan
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
- Customize the plan to meet the unique needs of your child.
- Provides adequate financial coverage for your child.
- Select from two benefit payment options; save benefit and save-n-gain benefit.
- Switch and redirect premiums as per your needs.
- You can invest in funds of your choice.
HDFC Life Young Star Udaan
- Enjoy tax benefits as per the prevailing sections of the Income Tax Act, of 1961.
- Get whole-life coverage by paying a premium for a limited period of time.
- Guaranteed additions earned in the first 5 years of the policy are paid upon maturity.
- Select from 3 benefit options that suit your needs.
- Waive-off premium benefits available under the classic waiver option.
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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:
- Click on the “Calculate Premium” button.
- Select the plan you want to purchase and include add-ons to your plan.
- The premium for your HDFC Life Insurance Plan will be displayed on the screen.
- Thereby, provide some personal details such as age, profession, gender, and more.
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Visit the official website of Insurance Dekho.
- Process To Buy HDFC Life Insurance Online
- You can follow the comprehensive guide highlighted in the section below to buy HDFC Life Insurance Plans:
Documents Required
- Address proof
- Identity proof
- Income proof
- PAN card
- Self-attested bank passbook
Steps You Need To Follow
- 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.
- HDFC Life Insurance policy document will be sent to your registered email ID.
- Make a premium payment online once the above process is complete.
- Select the type of life insurance plan that you want to purchase.
- Visit the official website of InsuranceDekho.
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:
Documents Required
- Address proof
- Authorized medical records
- Cancelled cheque of the claimant
- Death claim form
- Employer certificate of the life-assured
- issued a death certificate
- Identity proof of the claimant and deceased policyholder
- NEFT account details
- Original policy bond
- Passport-size photographs of the nominee
- Post-mortem report
Steps You Need To Follow
- Fill out the required details in the claim form.
- Go to the claim center page of the website.
- The claim settlement process will be completed within 30 days if the insurer is satisfied with all the information you provide.
- The insurer will assess all the details and documents you submit.
- Upload all the necessary documents to the portal.
- Visit the official website of HDFC Life Insurance.