HDFC Life Insurance Company Ltd. is one of the leading life insurance companies and was founded in the year 2000. Headquartered in Mumbai, this long-term life insurance provider offers both individual and group insurance policies. The insurance company has 421 branches and is present in around 980+ towns and cities in India. It even has its own liaison office in Dubai. It deals with a wide range of products such as Pension, Protection, Savings & Investment, Child, Women, and Health plans. In the financial year 2018-2019 alone, HDFC Life insured over 5.1 crores of lives and was awarded the Best Life Insurance Company at the BFSI Awards 2018.
Claim Settlement Ratio | 99.07% |
Duration for Claim Settlement | 1 Day |
**Last Updated on 17-12-2020
If someone wants to ensure the financial stability and full protection of their loved ones in case of an unforeseen demise, then term plans can be their saviour. 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. Following are the term plans offered by HDFC Life.
As an online term insurance plan, HDFC Life Click 2 Protect 3D Plus offers comprehensive security at affordable rates. The term 3D is derived from the three uncertainties that everyone faces in their lives- Death, Disability, and Disease.
Plan Options and Their Benefits
The plan allows you to customize your online term plan with a choice of 9 plan options. The 9 plan options are divided into two categories - Lump Sum and Lump Sum + Monthly.
Eligibility
Parameters | Life Option | 3D Life Option, Extra Life Option, Income Option, Extra Life Income Option | Income Replacement Option,Return of Premium Option | Life Long Protection Option | 3D Life Long Protection Option |
Min. Age at Entry | 18 Years | 18 Years | 18 Years | 25 Years | 25 Years |
Max.Age at Entry | 65 years | ||||
Min. Policy Term | Single Pay : 1 month Regular Pay, Limited Pay : 5 years | 5 years | 5 years | Whole of Life | Whole of Life |
Max. Policy Term | (85 years - Age at Entry) | (85 years - Age at Entry) | 40 years | ||
Age at Maturity | 23-85 Years | Whole of Life | Whole of Life | ||
Basic Sum Assured | Rs. 10,000 |
**Last Updated on 17-12-2020
With a wide range of additional coverage options, one can purchase this protection plan to safeguard your loved ones. It even allows you to secure your family’s everyday requirements (in the form of monthly income under Income and Income Plus options) when you are not around.
Benefits
Eligibility
Parameters | Life Option | Extra Life Option | Income Option | Income Plus Option |
Min. Age at Entry | 18 Years | |||
Max. Age at Entry | 65 years | |||
Min. Policy Term | 5 years | 10 years | ||
Max. Policy Term | (85 years - Age at Entry) | 40 years | ||
Min. Age at Maturity | 23 years | |||
Max. Age at Maturity | 85 years | 75 years | ||
Minimum Basic Sum Assured | Rs. 25 Lakhs |
**Last Updated on 17-12-2020
HDFC Life along with Apollo Munich Health Insurance has brought forth the benefits of life and health insurance in one affordable and comprehensive term plan, Click 2 Protect Health.
Benefits
Eligibility
Parameters | Health |
Min. Age at Entry | 91 Days |
Max. Age at Entry | 65 Years |
Policy Term | 1 year or 2 years |
Maturity Age | Life Long on continuous Renewals |
Sum Assured | 3,00,000 to 50,00,000 |
**Last Updated on 17-12-2020
HDFC Life Investment plans are life insurance plans that offer you several ways to save and grow your money. These investment plans ensure that your investments are systematic and disciplined in order for you and your family to achieve financial goals.
It is a non-participating unit-linked life insurance plan that offers market-linked returns and provides valuable financial protection for you and your family at minimal charges.
Plan Options and Their Benefits
Eligibility
Parameters | Invest Plus | Premium Waiver Option | Golden Years Benefit Option |
Age at Entry | Life Assured: 0 years (30 days) to 60 years | Life Assured: 0 years (30 days) to 60 years Proposer: 18 years to 65 years | Life Assured: 0 years (30 days) to 60 years |
Age at Maturity (in years) | 18 years to 75 years | 18 years to 75 years | 99 years |
Policy Tenure (in years) | 10 to 40 years | 99 minus Age at Entry |
**Last Updated on 17-12-2020
Parameters | Boundary Conditions | |
Sum Assured | Single Pay | 1.25 x Single Premium |
Regular & Limited Pay | 10 x Annualized Premium | |
Top-up | 1.25 x Top-up Premium |
**Last Updated on 17-12-2020
If you want to avail a cover for a lifetime (up to 100 years of age) and generate a regular income, HDFC Life Sanchay Par Advantage is the plan for you. It helps a great deal in building a corpus to achieve the goals you have planned for your future.
Plan Options and Their Benefits
Eligibility
Eligibility Criteria | Minimum | Maximum |
Age at Entry | 30 days | Immediate Income: 65 years Deferred Income: 55 years (for PPT 8 years) 60 years (for PPT 10,12 years) |
Maturity Age | 100 years (maximum) | |
Policy Term | 100 minus Age at Entry or A fixed policy term in the range of 30-40 years can be chosen | |
Sum Assured on Maturity | INR 3,00,000 | No limit, subject to Board Approved Underwriting Policy (BAUP) |
**Last Updated on 17-12-2020
HDFC Life Sanchay Plus is a non-participating and non-linked savings plan made to protect you and your family. It helps you achieve personal milestones that come with added expenses and responsibilities.
Plan Options and Their Benefits
Eligibility
Criteria | Guaranteed Income | Guaranteed Maturity | Long Term Income | Life Long Income |
Age at Entry | 5-60 Years | |||
Maturity Age | 18 to 73 years | 18 to 80 | 18 to 71 | 56 to 71 |
**Last Updated on 17-12-2020
With an entire family depending on you for expenses, it’s best to be prepared for unannounced roadblocks that may affect your plans. With this Whole Life Insurance, the insurance payout will be released to the beneficiaries upon the death of the policyholder. It is also known as Straight Life Insurance.
Plan Options and Their Benefits
HDFC Life Sampoorn Samridhi Plus offers two plan options to choose and benefit from:
Eligibility:
Parameters | Minimum | Maximum |
Age at Entry | 30 days | 60 years |
Age at Maturity (in years) | 18 Years | 75 years |
Policy Tenure (in years) | 15 Years | 40 Years |
Sum Assured | Rs. 65,463 |
**Last Updated on 17-12-2020
HDFC Life Sanchay is a non-participating insurance plan that offers guaranteed benefits along with flexibility to choose your investment horizon. With guaranteed returns from this plan, you can secure the financial needs of your loved ones.
Benefits:
Eligibility:
Criteria | Minimum | Maximum |
ENTRY AGE | Limited Pay – 30 days Single Pay – 5 years | Limited Pay – 65 Single Pay – 50 years |
MATURITY AGE | 18 Years | 85 Years |
PREMIUM PAYING TERM | Single Pay, 5, 6, 8 and 10 | |
POLICY TERM | Single Pay: 5 years Premium Paying Term 5 years: 10 years Premium Paying Term 6 years: 12 years Premium Paying Term 8 and 10 years: 15 years | Single Pay – 20 years Premium paying Term 6 years: 12 years Premium paying Term 5, 8 and 10 years: 40* years |
**Last Updated on 17-12-2020
HDFC Life ClassicAssure Plus is an investment cum insurance plan that offers guaranteed benefits while letting your money grow and is ideal for meeting long term financial goals.
Benefits:
Eligibility:
Criteria | For a 10 year policy term | For a 15 year policy term | For a 20 year policy term | |
Entry Age (in years) | Minimum | 8 | 3 | 30 Days |
Maximum | 55 | 60 | 55 | |
Maturity Age (in years) | Minimum | 18 | 18 | |
Maximum | 65 | 75 |
**Last Updated on 17-12-2020
HDFC Life ProGrowth Plus is a simple savings-cum-insurance plan that will enable you to enjoy life cover and benefit from the comfort of creating your own investment strategies.
Benefits:
Eligibility:
Criteria | Life Option | Extra Life Option | |
Entry Age (in years) | Minimum | 14 | 18 |
Maximum | 65 | 55 | |
Maturity Age (in years) | Minimum | NA | NA |
Maximum | 75 | 70 |
HDFC SL ProGrowth Super II is a smart savings-cum-insurance unit-linked plan that will help you to provide the finest for your family and help you achieve long term savings.
Benefits:
Eligibility:
Criteria | Life Option | Extra Life Option | Life & Extra Health Option | Extra Life & Health Option | Life & Disability Option | Extra Life & Disability Option | Life & Health & Disability Option | |
Entry Age (in years) | Min. | 14 | 18 | |||||
Max. | 65 | 55 | ||||||
Maturity Age (in years) | Max. | 75 | 70 | 65 | ||||
Term Age (in years) | Min. | 10 | ||||||
Max. | 30 | 25 |
**Last Updated on 17-12-2020
HDFC SL Crest is a unit-linked insurance (ULIP) investment plan, which helps you to achieve your investment goals in a brief period of 10 years along with financial protection for your family.
Benefits:
Eligibility:
Minimum Entry Age | 14 Years |
Maximum Entry Age | 55 Years |
Maturity Age | 65 Years |
Policy Term | 10 Years |
**Last Updated on 17-12-2020
HDFC Life Uday helps you to protect your savings with benefits like guaranteed additions and bonuses, while ensuring that your family receives a lump sum benefit in case of your unfortunate death.
Eligibility:
Entry Age (in years) | Minimum | 18 |
Maximum | 55 | |
Maturity Age (in years) | Minimum | 30 |
Maximum | 70 | |
Sum Assured | Minimum | Rs. 28,465 |
Maximum | No Limit |
**Last Updated on 17-12-2020
This plan is an investment-cum-insurance plan that offers the potential of higher returns. By investing a part of your money in equity and the balance in debt, you also get life insurance cover.
Benefits:
Eligibility:
Parameters | Minimum | Maximum |
Premiums |
| No Limit |
Policy Term | 10 Years | |
Premium Payment Term |
|
**Last Updated on 17-12-2020
HDFC Life Pragati meets dual objectives of Savings and Protection so that you can continue providing your family with the quality of life and peace of mind.
Benefits:
Eligibility:
Entry Age (in years) | Minimum | 8 |
Maximum | 55 | |
Maturity Age (in years) | Minimum | 18 |
Maximum | 65 | |
Sum Assured | Minimum | Rs.5,000 |
Maximum |
|
**Last Updated on 17-12-2020
HDFC Life Click2Invest ULIP is an online unit linked plan in India that offers you market-linked returns and provides your family with valuable financial protection at a minimal charge.
Benefits:
Eligibility:
Entry Age (in years) | Minimum | 0 |
Maximum | 65 | |
Maturity Age (in years) | Minimum | 18 |
Maximum | 75 | |
Policy Premiums | Minimum |
|
Maximum | No limit, subject to underwriting |
**Last Updated on 17-12-2020
HDFC SL ProGrowth Flexi is a savings-cum-insurance unit-linked plan (ULIP) that enables you to provide financial security to your loved ones.
Benefits:
Eligibility:
Life Options | Extra Life Options | ||
Entry Age (in years) | Minimum | 14 | 18 |
Maximum | 65 | 55 | |
Maturity Age (in years) | Maximum | 75 | 70 |
Policy Term (in years) | Minimum | 10 | |
Maximum | 30 |
**Last Updated on 17-12-2020
This is an insurance cum investment plan designed specifically with multiple fund options to help you optimize your investment and to meet your protection needs.
Benefits:
Eligibility:
Criteria | Classic Life Option | Classic Extra Life Option | Classic Plus Option | Classic Waiver Option | |
Entry Age (in years) | Min. | 0 (30 days) | 18 | 0 (30 days) | 18 |
Max. (5 pay) | 54 | 53 | 48 | 47 | |
Max. (other than 5 pay) | 60 | 58 | 50 | 50 | |
Maturity Age (in years) | Min. | 18 | 28 | 18 | 28 |
Max. (5 pay) | 64 | 63 | 58 | 57 | |
Max. (other than 5 pay) | 70 | 68 | 60 | 60 |
**Last Updated on 17-12-2020
HDFC Life Super Income Plan is a participating regular money back policy plan in India with guaranteed benefits plus bonuses to best plan your investment needs.
Benefits:
Eligibility:
Entry Age (in years) | Min. |
|
Max. | 59 (For policy term 15 & 16 year) 57 (For Policy Term of 18 Years) 55 (For Policy Term of 20 Years) 53 (For Policy Term of 22 Years) 51 (For Policy Term of 24 Years) 48 (For Policy Term of 27 Years) 34 (For Policy Term 15 to 27 Years Under Option 9) | |
Maturity Age (in years) | Min. | 18 |
Max. | 75 |
**Last Updated on 17-12-2020
In order to attain financial security after retirement, HDFC Life 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 cost of living is increasing by the day, retirement plans have become all the more essential for survival. Let's check out HDFC life retirement plans.
You can attain financial freedom and live a comfortable lifestyle even after your retirement. This single premium annuity product will help you do that as it offers regular guaranteed income for a lifetime.
Annuity Options and their Benefits
For single life product, the Primary Annuitant is the policyholder and the Secondary Annuitant is the nominee, and as for joint life annuity, the Secondary Annuitant can be spouse/child/parent/parent-in-law/sibling of the primary annuitant. The benefits offered to each type under various options are:
Eligibility:
Parameters | Minimum | Maximum | |
Entry Age | Immediate Life Annuity | 30 years | 85 years |
Immediate Life Annuity with Return of Purchase Price | 30 years | ||
Deferred Life Annuity with Return of Purchase Price | 45 years | ||
Annuity Payout (in Rs.) Per instalment | Annually | 12,000 | No limit |
Half-yearly | 6,000 | ||
Quarterly | 3,000 | ||
Monthly | 1,000 | ||
Minimum/ Maximum Purchase Price | Immediate Life Annuity | Rs. 42,076 | No limit |
Immediate Life Annuity with Return of Purchase Price | Rs. 160,261 | ||
Deferred Life Annuity with Return of Purchase Price | Rs. 76,046 | ||
Minimum Group Size (For Group Policies) | 5 (Five) |
**Last Updated on 17-12-2020
A traditional pension plan, the HDFC Life Personal Pension Plus offers stable and secure returns to the policyholder to live a hassle-free life after their retirement.
Benefits:
Eligibility:
Age at Entry (in years) | 18 to 65 |
Age at Maturity (in years) | 55 to 75 |
Policy Tenure (in years) | 10 to 40 |
**Last Updated on 17-12-2020
You can enjoy your post-retirement income with this retirement plan by securing your funds. This will ensure that you don't compromise your lifestyle standards even after retirement.
Benefits:
Eligibility:
Age at Entry (in years) | 35 to 65 |
Age at Maturity (in years) | 55 to 75 |
**Last Updated on 17-12-2020
It is a non-linked traditional annuity plan that offers various annuity options to choose from and allows you to live your life on your terms.
Benefits:
Eligibility:
Parameters | Minimum | Maximum |
Entry Age | 30 Years | 85 Years |
Yearly Annuity Payout (in rupees) | 10,000 | No Limit |
Half Yearly Annuity Payout (in rupees) | 5,000 | |
Quarterly Annuity Payout (in rupees) | 3,000 | |
Monthly Annuity Payout (in rupees) | 1,000 |
**Last Updated on 17-12-2020
This unit-linked plan offers market linked returns along with loyalty additions. This will help you reach your retirement goals by planning your finances well in advance.
Benefits:
Eligibility:
Parameters | Minimum | Maximum |
Entry Age (Years) | 18 | 65 |
Age at Maturity (in years) | 45 | 75 |
Premium Payment Tenure - Single Pay (in years) | 10, 15 to 35 | |
Premium Payment Tenure - 8 Pay (in years) | ||
Premium Payment Tenure - 10 Pay | ||
Premium Payment Tenure - 15 Pay (in years) | 15-35 |
**Last Updated on 17-12-2020
A variety of Health Insurance Plans and Mediclaim Policies are offered by HDFC Life to help policyholders meet health-related contingencies. Such plans cover critical illness expenses, hospital expenses, surgical expenses, and so on. Let's find out more about them.
HDFC Life Cancer Care offers lump sum benefit upon diagnosis of the disease. The policyholder can use this benefit to cover expenses related to the treatment.
Plan Options and their Benefits:
Silver option
This offers you a lump sum, which is 25% of applicable sum insured if diagnosed at an early stage or Carcinoma-in-situ (CIS), and 100% less early-stage cancer or CIS Claims when diagnosed with Major Cancer.
Gold option
Apart from the benefits available under Silver option, this option gives Increased Benefit, where the sum insured increases by 10% of the initial sum insured each year. This starts from the very first policy anniversary and stops either when the increased sum insured becomes 200% of the initial sum assured or at time of claim, whichever comes first.
Platinum option
Along with the benefits offered under the Gold option, the Platinum option offers a monthly income. It is 1% of the applicable sum insured for 5 years, which is paid out on diagnosis of listed Major Cancer. It also offers a premium discount for the sum assured above Rs. 10 Lakhs.
Eligibility:
Parameters | Minimum | Maximum |
Age at Entry (in years) | 5 | 65 |
Age at Maturity (in years) | 15 | 85 |
Policy Term (in years) | 3 | 85- Entry Age |
Premium Payment Frequency |
| |
Sum Insured (in rupees) | 10,00,000 | 50,00,000 |
**Last Updated on 17-12-2020
HDFC Life Cardiac Care brings a comprehensive plan that provides financial protection if the policyholder is diagnosed with a cardiac condition or is undergoing a surgical procedure that is listed in the policy.
Benefits:
Categorized as Group A, B and C, those with High Severity Condition fall under group A, with Moderate Severity Condition fall under Group B, and with Mild Severity Condition fall under Group C. Hence, your benefits may vary as per the Group you are categorized under.
Eligibility:
Parameters | Minimum | Maximum |
Age at Entry (in years) | 18 | 65 |
Age at Maturity (in years) | 23 | 70 yrs (Single Pay) 75 yrs (Regular Pay) |
Policy Term (in years) | 5 years for Single Pay Between 5 and 40 years for Regular Pay | |
Premium Payment Frequency | Single premium, Annual, Half-yearly,Quarterly and Monthly | |
Sum Insured (in rupees) | 2,00,000 | 50,00,000 |
**Last Updated on 17-12-2020
Due to the change in lifestyle, it has become even more important to take care of our health. This can impose an extra financial burden on the family and this insurance product can help you repair your financial security no matter how critical your illness is.
Benefits:
Eligibility:
Parameters | Minimum | Maximum |
Age at Entry (in years) | 18 | 65 |
Age at Maturity (in years) | 23 | 70 |
Policy Term (in years) | 5 | |
Premium Payment Mode |
| |
Sum Assured (in rupees) | 25,000 | 5,00,000 |
**Last Updated on 17-12-2020
HDFC Life brings forth plans to empower your child's dreams, which will help you live as proud parents for the rest of your life. Let's find out more about them.
HDFC Life has brought forth a traditional participating insurance plan, which is ideal for parents who want to save up for their child's academic, marriage expenses, and other expenses that fall under their child's dreams.
Benefits:
Eligibility:
Parameters | Death Benefit- Aspiration | Death Benefit- Academia | Death Benefit- Career | Death Benefit - Waiver All Options |
Age at Entry (in years) | 0-60 | 8-60 | 18-55 | |
Age at Maturity (in years) | 18-75 | 23-75 | 33-75 | |
Policy Term (in years) | 15-25 |
**Last Updated on 17-12-2020
It is a unit-linked insurance plan (ULIP), which is specially designed to help you save for your child's future even in your absence.
Benefits:
Eligibility:
Parameters | Life Option | Life & Health Option | |
Entry Age | Minimum | 18 Years | |
Maximum | 65 Years | 55 Years | |
Maximum Maturity Age | 75 Years | 65 Years | |
Policy Term | Minimum | 10 Years | |
Maximum | 20 Years |
**Last Updated on 17-12-2020
HDFC Life 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. Let's find out more details of this plan.
HDFC Life Smart Woman Plan gives a boost to the policyholder's savings. This will leave her free to pursue her career and live her dreams.
Plan Options with their Benefits:
Eligibility:
Criteria | Minimum | Maximum |
Proposer Entry Age (in years) | 18 | None |
Entry Age For Female Life to be Assured (in years) | 18 | 45 |
Entry Age of Spouse for Elite Option (in years) | 21 | 50 |
Maturity Age (in years) | 28 | 60 |
Policy Tenure (in years) | 10 or 15 years |
**Last Updated on 17-12-2020
If you have made up your mind to purchase life insurance, then PolicyX.com is the perfect platform to cater to your needs. Here's why:
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:
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.
1. I have insurance cover from my company. Do I still need a term plan?
The insurance from your company will last as long as you remain in the organization. Once you leave, the insurance coverage won’t be valid. Hence, it is better to opt for a term plan irrespectively.
2. 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.
3. With HDFC Life Click 2 Wealth, can I invest in Bond Fund and Liquid Fund?
Yes. With a Systematic Transfer Plan, you can invest a fixed amount of monthly instalments in any one of the following funds: Blue Chip Fund, Equity Advantage, Discovery Fund, Opportunities Fund, Balanced Fund, or Diversified Fund.
4. How is the Cash Bonus payable calculated under HDFC Life Sanchay Par Advantage Plan?
Cash Bonus payable = Cash Bonus Rate x Annualized Premium
5. How is the Guaranteed Addition calculated for the HDFC Life Sampoorn Samridhi Plus plan?
6. 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.
7. What is the severity group considered in the case of the First Heart Attack under HDFC Life Cardiac Care?
First Heart Attack comes under Group A of High Severity Condition.
8. What is the starting premium rate and payment frequency for HDFC Life Smart Woman Plan?
The starting premium for HDFC Life Smart Woman Plan is Rs 24,000 per year and the only payment frequency is an annual mode.
Last updated on 17-12-2020