HDFC Life Insurance

Q: What all factors should be considered before buying an HDFC Life Insurance Plan?

Learn about your insurance requirements Different insurance plans address different financial needs. The selection of plans depends on your life goals and styles that help you achieve a financially secure and happy life. Determine your Coverage amount One should determine the amount of coverage carefully as it depends on his/her future financial requirements as well as on the inflation factor. Get insured at early ages Age is considered one of the important factors for calculating premiums. Earlier you avail insurance, the younger you are, the lesser the premium rates. So it is always better to start early to secure your future for the long-term with a low-cost cover. Understand Terms and Conditions Read the insurance product brochure carefully before buying as most plans have certain T&Cs under which the benefits are withheld. Be aware of all the exclusions. Provide Truthful Information Ensure that the details you provide to the HDFC Insurance company should be true. Providing wrong or false information may lead to the rejection of your claim application form. Buying Online HDFC Life Insurance offers an online mode for purchasing policies that are quite fast and convenient. With this mode, all charges are transparent with no hidden information, and minimum paperwork is required.

Founded in 2000, HDFC Life Insurance company is a joint venture between HDFC Ltd., India's leading housing finance institution and Abrdn PLC (formerly Standard Life Aberdeen PLC) a global investment company. The insurance company has 390+ branches and is present in around 980+ towns and cities in India. It deals with a wide range of products such as Pension, Protection, HDFC Life Savings & Investment, Child, Women, and Health plans. In the financial year 2020-21 alone, HDFC Life insured over 4 crores of lives and was awarded the Superbrand 2021.

As per the latest update of the HDFC Life, the company has 38 individual and 13 group products in its portfolio, along with 7 optional rider benefits. With so many life insurance products available, HDFC Life policy caters to a diverse range of customer needs.

HDFC Life Insurance Awards and Recognition

Aegis Graham Bell Award
HDFC Life Insurance company won the 'Project Evaluation & Recognition Program' for Policy Loans in the service sector.
The company was recognized as a 'Great Place to Work' for the 10th time and was amongst India's 'Top 75 Best Workplaces' in BFSI 2020.
HDFC Life was awarded the 'Most Innovative Insurer - Life Category' award, at the FICCI Insurance Industry Awards 2020.
HDFC's 'Click2Protect 3D Plus' plan was selected as the winner of the Best Term Plan of the Year 2020 category award by the jury of The Business Today - Money Today Financial Services Awards.
The innovations team of the company won the award for their 'FaceSence' project in the BFSI category.
Minister of State for Finance & Corporate Affairs-GOI awarded HDFC Life's Swabhimaan initiatives with the 'Change Maker Award 2020'.
The company received the 'ICAI Silver Award' for excellence in Financial Reporting for the company Annual Report 2018-19 in the Life Insurance category.
National Award 2012- for excellence in the cost management.

Key Features of HDFC Life Insurance

We at PolicyX.com have listed some of the key features of the HDFC Life Insurance company such as its claim settlement ratio, solvency ratio, etc for your clearer understanding.

Take a look below to get an insight into the company's performance and choose your HDFC Life Insurance plans:

1 HDFC Life Insurance Annual Premium

HDFC Life Insurance company caters to every individual’s life insurance needs with the availability of wide range of life insurance products. As per the IRDAI report 2020-21, HDFC Life Insurance life insurance Recorded an annual premium of Rs. 38,583.49 Crores.

2 HDFC Life Insurance Solvency Ratio

The solvency ratio of the company helps an individual ascertain the company's ability to meet its long-term financial obligations. As per the IRDAI, it is mandatory for every life insurer to maintain a solvency ratio of 1.5.

The Solvency Ratio of HDFC Life Insurance company for 2020-21 is 1.99.

*Data from IRDAI Annual Reports

3 HDFC Life Insurance Claim Settlement Ratio

As per the IRDAI report of 2020-21, the claim settlement ratio of HDFC Life Insurance is 98.01%, which indicates that the company has a good and reliable claim settlement process.

Take a look at the below graph to understand the claim settlement performance of HDFC Life in the past few years:

*Data from IRDAI Annual Reports

4 HDFC Life Insurance Operating Network

HDFC Life Insurance Company has 300+ branches across India and additional distribution touch-points through several new tie-ups and partnerships. Apart from its PAN India presence, it has more than 300 partnerships, comprising traditional partners such as SFBs, MFIs, and NBFCs. Moreover, it also has a strong base of financial consultants.

Annual Premium	Rs. 38,583.49 Crores
Solvency Ratio	1.99
Claim Settlement Ratio	98.01%
PAN India Presence	300+ Branches

Why Choose HDFC Life Insurance?

Insurance market is full with companies offering life insurance products. However, choosing HDFC Life insurance out of all the available options needs quite a strong reason. Well in the section below, we have mentioned some of the reasons that may help you to trust your choice and go ahead with HDFC Life Insurance company:

Wide Range of Options to Choose From
HDFC Life provides a wide range of life insurance products, that helps an individual to choose the most suited plan as per their own needs and requirements. With such a wide range of products available, you can easily compare and then choose the best suited life insurance product.
Affordable Price
HDFC Life plans are designed to provide complete protection to you and your family at an affordable price. These plans ensure to offer several benefits at very nominal prices.
High Claim Settlement Ratio
HDFC Life Insurance has a Claim Settlement Ratio of 98.01%, which shows that the company understands the needs of the claim settlement and ensures that the beneficiary receives their claims on time.

Types of HDFC Life Insurance Plans

HDFC Life Insurance offers various insurance products ranging from term to child plans. The different products offered by the company are:

Term Insurance PlansSavings PlanULIP PlansRetirement PlansHealth Plans Child PlansWoman PlansCombo Plans

Term Insurance Plans
If someone wants to ensure the financial stability and full protection of their loved ones in case of an unforeseen demise, then term plans offered by HDFC Life Standard can be their savior. It provides coverage for a certain period of time or years. Hence, if the insured person dies when the policy is active, the nominee will receive the death benefit.
Know More About: HDFC Term Insurance
Savings Plan
HDFC Life Insurance Policy offers Saving plans that offer you several ways to save and grow your money. These saving plans ensure that your investments are systematic and disciplined in order for you and your family to achieve financial goals.
Know More About: HDFC Investment Plans
Retirement Plans
In order to attain financial security after retirement, HDFC Life Standard provides Retirement and Pension plans so that even if your professional income or savings decrease gradually, you won't need to compromise your living standards. Considering the way the cost of living is increasing by the day, retirement plans have become all the more essential for survival.
Health Plans
HDFC Life policy offers a variety of Health Insurance Plans and Mediclaim Policies to help policyholders meet health-related contingencies. Such plans cover critical illness expenses, hospital expenses, surgical expenses, and so on.
Know More About: HDFC ERGO Health Insurance
Child Plans
HDFC Life Insurance company limited brings forth plans to empower your child's dreams, which will help you live as proud parents for the rest of your life
Know More About: Child Plans
Woman Plans
HDFC Life standard provides necessary solutions that cater to the various financial needs of a woman. The plan is curated to suit a woman's needs at various stages of her life; protection, health, retirement, long-term savings and investments, and child's education.
Combo Plans
HDFC Life Insurance company limited ensures that with their combo plans one can secure their family's future with lifelong regular income and assured benefits.

HDFC Life Insurance Plans

We are presenting to you the different plans offered by HDFC Life insurance. Take a look at the below section to HDFC Life Insurance plans and choose your ideal plan:

Type of Plans	HDFC Life Insurance Plans
Term	HDFC Life Click 2 Protect life HDFC Life Saral Jeevan Bima Click 2 protect Corona Kavach Click 2 Protect Health
Savings	HDFC Life Sanchay Plus HDFC Life Sanchay Par Advantage HDFC Life Sanchay HDFC Life Sampoorna Samridhi Plus HDFC Life ClassicAssure Plus HDFC Life Super Income Plan HDFC Life Uday HDFC Life Pragati
ULIP	HDFC Life Click 2 wealth HDFC Life Click 2 invest HDFC Life SLProgrowth flexi HDFC Life Sampoorna Nivesh HDFC Life ProGrowth Plus HDFC Life SL ProGrowth Super II HDFC Life SL Crest HDFC Life Capital Shield
Pension/Retirement	HDFC Life Pension Guaranteed Plan HDFC Life Guaranteed Pension Plan HDFC Life New Immediate Annuity Plan HDFC Life Assured Pension Plan - ULIP HDFC Life Personal Pension Plan HDFC Life Click 2 Retire
Child	HDFC Life SL Youngstar Udaan HDFC Life Cancer Care HDFC Life Easy Health HDFC Life Youngstar Super Premium
Women	HDFC Life Click 2 Protect life
Combo	HDFC Life Sanchay Maximiser

Buying Process Of HDFC Life Insurance Plans

There are two ways through which you can invest in HDFC Life Insurance Policy- via PolicyX.com and the official website of the company. Let's discuss the steps further. Follow the below-mentioned steps to buy your HDFC Life Policy:

Buying process of HDFC Life plans through PolicyX.com

Scroll up to 'Free Quotes From Top Companies' given at the top right corner of this page. Submit basic details such as DOB, annual income, gender, etc. Tap on 'Continue'.
Provide your phone number, name, and city. Tap on 'proceed'. Check the available quotes from the top insurance companies in India.
Choose the desired plan and tap on 'Invest' at the right corner of the chosen plan. Click on 'Proceed to Buy'. Enter your 'E-mail ID' and 'Submit Details'.
It will take you to the company's official website. Make the payment using available payment options.
You will receive a confirmation along with the policy documents at your registered email address.

Buying process of Online Insurance HDFC Life insurance plan through HDFC Life official website

Visit the official website of HDFC Life Insurance Company. Click on the 'Investment Plan'. Scroll down to the plan section.
Select the plan that you want to buy and click on 'Buy Online. Confirm the details and click on the 'Calculate Button'
Analyze the plan and confirm the details. Click on the 'Buy Now Button' and 'Fill in the details and Click Pay Now'.
Complete the application form with your personal and professional life and your health details.
Review your details and make the payment. The company will share the policy documents at your registered Email address.

Buying Process Of HDFC Life Insurance Plans

How To File a Claim Under HDFC Life Insurance Policy?

HDFC Life allows you to make quicker, simpler, and more efficient claims by using their online platform. To do so, you must follow the subsequent steps:

Visit HDFC Life's official website.
Scroll Down to the "Make a Claim" section and click on "Submit Claim".
The "How to make a claim" provides you with a link to make Individual death claims. Click on the option "Click Here" to proceed.
Verify the policy details, submit life assured details, and submit the nominee's details along with the necessary documents.

How To File a Claim Under HDFC Life Insurance Policy?

HDFC Life will contact you with acceptance or rejection of your claim settlement. Meanwhile, if you wish to track your claim, you can do so by clicking on the 'Track Claim' option available on the home page.

Additionally, you can choose to visit the branch by clicking on the branch option in the 'How to Make a Claim' section. It will redirect you to HDFC Life Branch Locator, using which you can find your nearest HDFC Life branch and file for settlement.

Documents Requirement for Smooth Claim Process

To process your HDFC Life plans claim smoothly and efficiently, you need to submit the below-mentioned documents:

For Natural Deaths

Certificate of death issued by Government/ Relevant Authority
Claim application for Death
Original Policy Documents
Address proof and identity of the claimant
Medical documents at the time of Death & Illnesses

For Unnatural Deaths

Certificate of death issued by Government/ Relevant Authority
Claim application for Death
Police records attested by police authorities
Post-mortem attested by hospital authorities
NEFT Account details
Address proof and identity of the claimant
Address proof and identity of the claimant
NEFT Contact details

Documents Requirement for Smooth Claim Process

Contact Details of HDFC Life Insurance

Company's Address: HDFC Life Insurance Company Limited, Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011.

Customer Care Toll-Free Number: 1800-266-9777

Email: service@hdfclife.com

HDFC Life Products

Life Insurance Categories

HDFC Life Insurance: FAQs

1. Can I cancel my HDFC Life Insurance Policy? If yes, then how can I do that?

Yes you can cancel your HDFC Life Policy. In order to cancel your policy you need to fill up a cancellation form available at the HDFC official website, and submit it to the nearest branch.

2. Does HDFC have any personalized mobile application that will help me to ease my renewal and buying process?

Yes, you can easily pay renewal premium through HDFC Life App using any of the payment Instrument. Not just this, you can also track all your insurance related transactions through this application.

3. How can I get a loan against my HDFC insurance policy?

You can get a policy loan based on a percentage of the Surrender Value if your policy has reached its Surrender Value. The policy loan is available for both regular and single premium plans, as well as Unit Linked and Conventional insurance. For further information on the terms and circumstances of obtaining a policy loan, please refer to your policy document.

4. What is the process of availing Maturity payout? And what documents do I need to process my maturity payouts?

If you are eligible to avail maturity benefit, you can claim for it after the policy's maturity date.

You need to submit the following papers in order for the payout to be processed:

PAN Card copy is a required document.
Policyholder/beneficiary name,
Account number, and IFSC code clearly visible on cancelled cheque
Last three months' bank statement

5. Can I partially withraw my funds from HDFC Insurance policy?

To partially withdraw your funds you need to submit a completed Partial Withdrawal Request Form, along with identification and address proof to the nearest HDFC Life branch.

6. How does HDFC Life deem a life assured as critically ill?

The life assured will be considered critically ill if (s)he is diagnosed by at least two independent medical practitioners who specialize in the treatment of such illness. Furthermore, the assured life must have high chances of death within 6 months as per their opinions.

7. What is the premium allocation charge?

There is a premium-based charge, which after deducting from your premium is used to buy units. The percentage of your premium that is utilized to buy units is called the Premium Allocation Rate. This charge is guaranteed for the entire term of the policy

8. What all factors should be considered before buying an HDFC Life Insurance Plan?

Learn about your insurance requirements

Different insurance plans address different financial needs. The selection of plans depends on your life goals and styles that help you achieve a financially secure and happy life.

Determine your Coverage amount

One should determine the amount of coverage carefully as it depends on his/her future financial requirements as well as on the inflation factor.

Get insured at early ages

Age is considered one of the important factors for calculating premiums. Earlier you avail insurance, the younger you are, the lesser the premium rates. So it is always better to start early to secure your future for the long-term with a low-cost cover.

Understand Terms and Conditions

Read the insurance product brochure carefully before buying as most plans have certain T&Cs under which the benefits are withheld. Be aware of all the exclusions.

Provide Truthful Information

Ensure that the details you provide to the HDFC Insurance company should be true. Providing wrong or false information may lead to the rejection of your claim application form.

Buying Online

HDFC Life Insurance offers an online mode for purchasing policies that are quite fast and convenient. With this mode, all charges are transparent with no hidden information, and minimum paperwork is required.

9. How can I get the premium receipt of HDFC Life Online Insurance?

You can contact HDFC Life Insurance Company by contacting it through various portals, such as:

You can get a premium receipt from the 'E-Service' section of My Account.
You may also file a premium receipt request via HDFC Life's IVR by following the prompts and selecting option 2 >> Request>> and then pressing 1.

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.5/5 (30 Total Rating)

September 21, 2021

Sukhi Singh

Allahabad

very decent customer support at policyx.com! my benefits and features of click 2 retire was detailed and i have no confusion

September 20, 2021

Kanak Deol

Chandigarh

had a good discussion with one the agents at policyx,com! i mean the person was deeply knowlegeable and it was very helpful! Will recommned going forward!

September 20, 2021

Surbhi Verma

Mysore

I bought the click 2 protect plan to secure myslef...I think policyx did a fab job piking the right plan for me! got a decent bunch of benefits

September 17, 2021

Kanak Goel

Mumbai

This is the second term plan that I m buying from policyx.com. I want to make sure my family has enough after my death so I figured HDFC was a safe bet

September 16, 2021

Kinshuk Chabra

Bhopal

with corona and my brother s death due to it, our entire family was in shock. but I went to personally claim the policy after hs death ...it was policyx which guided me and made sure that process was smooth

Last updated on SEP, 2022

HDFC Life Insurance

HDFC Life Insurance Awards and Recognition