HDFC Life Insurance
  • Avail family life cover
  • Avail guaranteed benefits
  • Maturity benefit available
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HDFC Life Insurance Company: Overview

HDFC Life is a joint venture between HDFC Ltd., India's leading housing finance institution, and Aberdeen PLC (formerly Standard Life Aberdeen PLC) a global investment company. HDFC Life has 372 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 plan, Women, and Health plans. In the financial year 2021-22 alone, HDFC Life insured over 4 crores of lives and was awarded as a Superbrand in 2021.

HDFC Life Insurance Company ensures to look after your insurance needs by offering:

why-choose

  • Decent Solvency Ratio

  • Highest Claim Support

  • Comprehensive Coverage

  • PAN India Presence

Key highlights of HDFC Life Insurance

To get more insight into HDFC Life Insurance Company's performance, take a look at the below key highlights that will help you to analyze the company based on its performance:

Solvency Ratio

HDFC Life Insurance has a Solvency Ratio of 2 as per the IRDAI annual report 2022-23. The solvency ratio helps the prospective policyholder assess the ability of a company to meet its financial obligations. As of now, IRDAI mandates maintaining a solvency ratio of 1.50 for every insurer.

Features of HDFC Life Insurance

There are various features to HDFC Life Insurance Plan. Let's understand each of them in detail:

  • Good Solvency Ratio - HDFC Life Insurance has a Solvency Ratio of 2 as per the IRDAI annual report 2022-23.
  • Highest Claim Support - As per the IRDAI annual report of 2022-23, the claim support of HDFC Life Insurance is 99.39%.
  • Annual Premiums - As per the annual report of IRDAI 2022-23, the annual premium of HDFC Life Insurance is Rs. 57,533.42 Cr.
  • PAN India Presence - HDFC Life has a PAN India Presence with over 500 branch offices across India.

Benefits of HDFC Life Insurance Plans

There are multiple benefits of HDFC Life Insurance Plans. Read below to understand the plethora of advantages provided by the insurer.

Best Customer Experience

HDFC Life brings effective solutions to their customers. The insurer tends to look at every product, every service point, and every innovation from their customer’s perspective.

Economical and affordable plans

HDFC Life offers cost-effective plans with affordable premiums catering to individuals across demographics.

Flexible Plans

HDFC Life Insurance plans offer various coverage options, allowing you to select a plan that meets your needs.

Healthy Lifestyle Benefit

HDFC Life Insurance Plans recognize and reward individuals who have a healthier lifestyle with their low premium options.

Tax Benefits

Tax Benefits can be availed for premium payments of HDFC Life Insurance plans under sections 80C and 10 (10D) of the Income Tax Act 1961.

Tired of Pushy Sales? Get Insurance, Your Way Tired of Pushy Sales? Get Insurance, Your Way

Rider Benefits You Can Avail With HDFC Life Insurance Plans

Here are the rider options you can avail with HDFC Life Insurance Plans to enhance your coverage:

Maternity Benefit Rider

HDFC Life Income Benefit or Accidental Disability Rider

In case of any unfortunate incident during the policy term, With HDFC Life Income Benefit or Accidental Disability Rider, you can receive additional income benefits over and above your sum assured.

Maternity Benefit Rider

HDFC Life Protect Plus Rider

In case of any unfortunate incident or diagnosis of cancer, during the policy term, with HDFC Life Protect Plus Rider you can receive a proportion of your sum assured.

Maternity Benefit Rider

HDFC Life Health Plus Rider

In the case of those diagnosed with among any 60 critical illnesses during the policy term. With HDFC Life Health Plus Rider. You can have a proportionate sum assured to further treatment of your disease.

Maternity Benefit Rider

HDFC Waiver of Premium Rider

In the case of death, disability or diagnosis of any critical illness during the policy term. With HDFC Waiver of Premium Rider, you can waive your all future premiums.

Maternity Benefit Rider

HDFC Life Protect Plus Rider

With HDFC Life Protect Plus Rider you can protect yourself with rider sum assured against accident death or partial/total disability.

Maternity Benefit Rider

HDFC Life Income Benefit on Accidental Disability Rider

HDFC Life Income Benefits offers additional income benefits over and above your Sum Assured in the event of total permanent disability due to an accident.

Documents Required to Purchase HDFC Life Insurance Policy

Here is the list of documents required to buy HDFC Life Insurance Plans:

  • Regular Smoking
    Photo ID Proof
  • Your Occupation
    Age Proof
  • Pre-Existing Diseases
    Address Proof
  • Your Age
    Medical Records
  • Your Gender
    Income Proof
Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy HDFC Life Insurance Plans?

HDFC Life Insurance allows you to buy life insurance plans via two platforms. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below is a detailed explanation of both these types of buying processes.

Life Insurance
  • Step 1

    Fill out the form given at the top of this page with the necessary details.

  • Step 2

    Select your income and city. Click on 'Proceed'.

  • Step 3

    Update your education and occupation details.

  • Step 4

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 5

    Select the policy term, premium period, and riders (if required), and then proceed to make the payment. Once the payment is made, you will get a payment confirmation at your registered email address.

Life Insurance
  • Step 1

    Visit the official website of HDFC Life Insurance Company.

  • Step 2

    Click on ‘All plans’ on the navigation bar and select 'Life' Insurance Plans’.

  • Step 3

    Click on the ‘buy now’ button and fill in the required details.

  • Step 4

    Tap on 'next' and select a plan as per your requirements.

  • Step 5

    Select the cover option you want and make your payment. Once the payment is made, you will get a payment confirmation at your registered email address.

Why Choose PolicyX.com?

Don't just take our word for it - check out what our happy customers say about us!

All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.

Ravindra Singh

I highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.

Priti varshney

I'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.

Nisha Mary

I bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.

Ajay Shah

PolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.

Vijay Rathod

I purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.

Uma Mahajan

How to File HDFC Life Insurance Claims?

Every claimant/nominee is assigned a dedicated Claims Relationship Officer who helps through the entire process. The life insurance claim Settlement process at HDFC Life Insurance involves the following three steps:

Online Process

Your Occupation
1

Claim Intimation

Inform the company about the incident via various channels-either by writing an email to HDFC Life at service@hdfclife.com, calling the toll-free number (022 6844 6530), filling out the online claim form on its website, or visiting the nearest branch. A claim reference number/intimation number will be provided to you upon successful registration of the claim.

Your Occupation
2

Document Submission

You have to submit the necessary documents requested by the insurer to process the claim.

In case of natural death: death claim form, death certificate, original policy documents, claimant's identity & residence proof, medical records, and account details of the nominee.

In case of an accidental death: The same documents with two additional ones: FIR and post-mortem report.

Your Occupation
3

Claim Settlement

After receiving all the documents and claim forms, the insurer will verify the details as per their norms. If they require any additional details they will contact you via call or email. On successful completion, the claim will be settled and the amount will be transferred to the nominee's bank account and the same will be communicated to him/her over a call or an email.

Offline Process

HDFC Life insurance claim settlement procedure can be reported by visiting the local HDFC Life Branch Office. For the details of HDFC Life Insurance branches, you can visit their website and locate the nearest branch. You have to submit the essential documents at the branch so that your claim can be processed.

Your Occupation

Exclusions of HDFC Life Insurance Plans

  • Death due to a pandemic such as COVID-19 or ebola will not covered by the company.
  • Death, due to indulging in any adventure sports.
  • Death due to consumption of any type of drugs and alcohol.
  • Death due to any pre-existing disease that isn't mentioned during the start of the policy.
  • If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death benefit. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death payments. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.

Conclusion

In conclusion, HDFC Life Insurance offers a range of flexible, customer-centric insurance plans tailored to meet various financial needs and life goals. With its strong digital presence, best claim settlement record, and diverse product portfolio, HDFC Life stands out as a trusted partner for securing one’s financial future. For more info related to HDFC Life Insurance, you can contact Policyx.com 24/7. Our trusted insurance experts listen to your every unique problem and suggest the best possible solution for you.

Life Insurance

More Queries?

If you have any more queries regarding HDFC Life Insurance Plans, Renewals, or Claim Procedures, contact our insurance experts at:
1800-4200-269 now!

HDFC Life Insurance: FAQs

1. Can I cancel my HDFC Life Insurance Policy? If yes, then what is the procedure?

Yes, you can cancel your HDFC Life Policy. 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 ease my renewal and buying process?

Yes, you can easily pay renewal premiums through HDFC Life App using any of the payment Instruments. 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 of Maturity payout? And what documents do I need to process my maturity payouts?

If you are eligible to avail of a maturity benefit, you can claim it after the policy’s maturity date. You need to submit the following papers for the payout to be processed: A PAN Card copy is a required document. Policyholder/beneficiary name, The account number, and IFSC code visible on the canceled cheque Last three months’ bank statement

5. Can I partially withdraw my funds from the HDFC Insurance plan?

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 a high chance of death within 6 months as per their opinions

7. What is the premium allocation charge in HDFC Life Insurance?

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. How can I get the premium receipt for 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 selecting option 2 >> Request>> and then pressing 1.

Life Insurance Companies

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Himanshu Kumar

Written By: Naval Goel

Naval Goel is the Founder and CEO of PolicyX.com (IRDA- Approved Insurance Comparison Website). He is a CFA charter holder (USA) and FRM (GARP). He holds an MBA from IIFT, Delhi, and is also an Associate from the Insurance Institute of India. Naval is an avid investor and entrepreneur who has a deep understanding of the Indian equity market and insurance sector. He has been investing for more than 10 years now and is a CFA charter holder.

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