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HDFC life insurance Co. Ltd., (HDFC life) is one of the topmost gamers in the insurance market. Founded in the year 2000, HDFC life is a partnership among Housing Development Finance Corporation Limited, one of the biggest housing finance group and Standard Life Aberdeen plc (one of the world’s largest investment companies). They have joined hands to provide customers with a variety of coverage and investment products inclusive of protection, pension, savings, Investments, health, children, and women! With this kind of diverse portfolio, the employer strives to meet personal safety and wealth-improving needs and offer custom designed financial solutions for everyone.
Life Insurance is a kind of policy that assist the insured at every important stage of his/her life. It also assists in having a secure post-retirement life. Several plans under the life insurance policy are designed in a way that can provide required financial assistance when the insured needs it most.
Life insurance is a great tool that helps you in meeting the financial requirement of your family when you are not around to take care of the same. The motive behind of a life insurance plan is to secure your family after your demise. The best thing about a life insurance plan is that it pays a decided amount to your beneficiary or nominee after your death so that they can easily clear your debts, loans and can continue their standard living. It can also assist you in the case of critical illness. Thus, Life insurance refers to be an essential insurance plan that you must add to your saving and investment portfolio.
Nowadays, it almost becomes essential to have more than one insurance policy. Below are some reasons through which you will understand the importance of having a life insurance plan.
Family’s Financial Needs
If you are the only earning person in your family and there will be no other source of income in case of your demise, then you should buy a life insurance plan for your family’s needs. Have you ever thought that what will they do when you will be not there for them? With no income, their standard of living will surely fall and they will not be able to meet your basic needs as well. Thus, Life insurance plan is a savior for your family in such situations.
Loans and Expenses Repayment
You might be paying EMIs for a loan, or you may have borrowed some money from your friend or colleague. Moreover, if you just started your family and your child is still young. In such cases, what if you met an accident and your spouse's is not able to bear all expenses alone. How he/she will manage to do things, to live a normal life, to educate your child. Yes, a life insurance can help them in living a normal life. They will get the funds from insurer to meet their requirements.
Draw Loans Against Insurance
Apart from using life insurance’s funds to clear debts and loans, you can also file for a loan against your life insurance plan.
Diverse Investment Options
You can also use your life insurance plan as a good investment option. There are several forms of insurance policies such as Child Insurance plan, Retirement plan, Term Life Insurance, Whole Life Insurance and you can use the same for different purposes.
Illnesses and Accidents
It is also a good investment option against the financial burden that you might face during an illness or accident. Under the same, you will be liable to get the treatment from top hospitals without taking tension about its costs.
Tax Benefits
Yes, life insurance policy also offers tax advantages. Under section 80C of the Income-tax Act, most of the insurance policies are liable to get the advantage of tax benefits or tax deductions in the premium amount.
These plans vary across all categories – Protection, Saving and Investments, Health and Retirement. These can be purchased and renewed on the online platforms thereby offering various online insurance policy options.
HDFC Life Click 2 Protect 3D Plus
HDFC Life Click 2 Protect 3D Plus is an online term insurance plan that offers comprehensive security at an affordable price. 3D stands for the three uncertainties that we face at some point in time, i.e. Death, Disability,and Disease. With this online term policy, ensure that your family is safeguarded financially if an unexpected eventuality occurs.
HDFC Life Click2Invest - ULIP
A Unit Linked online investment plan with life insurance coverage.
HDFC Life Cancer Care Plan
HDFC Life Cancer Care offers lump sum benefit on diagnosis of Cancer that helps to protect your income and savings from expenses.
HDFC Life Click 2 Retire - ULIP
“HDFC Life Click 2 Retire– ULIP” is an online Unit Linked Plan that offers you market linked returns, with minimal charges.
HDFC Life Easy Health Plan
Critical illness insurance provides a lump-sum payment in-case the policyholder is diagnosed with a health-related condition of a serious nature. Some of these common critical illnesses include Heart attack, Cancer, Paralysis, Coronary artery bypass surgery, Major organ transplant (e.g. heart, lung, liver, pancreas), Stroke, Kidney Failure.
Term plan is a comprehensive coverage plan that is designed to provide protection with a wide variety of cover options in addition to ensuring that your family is assured of monetary stability even in your absence.
HDFC Life Click 2 Protect 3D Plus
HDFC Life Click 2 Protect 3D Plus is a term insurance plan which ensures protection against the 3 eventualities of life - death, disability, and disease. The 9 plan options will help you pick the most suitable plan option as per your requirement.
HDFC Life Click 2 Protect Plus
One more term insurance plan in India which provides you comprehensive protection at an affordable price and helps you to protect yourself and your loved ones against the uncertainties that life may throw at you. This term life insurance policy provides a wide range of cover options and you can choose the cover depending on your need. You can even secure your family’s day to day requirements when you are not around by way of monthly income under income & income plus option.
Click 2 Protect Health
HDFC Life and Apollo Munich Health Insurance have joined hands to bring you the benefits of health and life insurance in a comprehensive and affordable. 5% discount on total premium on the purchase of Click 2 Protect Health. A customer has to give a single cheque, go for single documentation and single medical test to buy this policy.
Insurance is a pretty safe financial tool to secure your future. Savings and investment plan provide lump sum finances to meet your future expenses.
HDFC Life Sanchay
A non-participating insurance plan, that offers guaranteed benefits along with flexibility to choose your investment horizon. Guaranteed benefits of 220% to 325% of the sum assured on maturity depending upon the policy term.
HDFC Life SampoornSamridhi Plus
It is part of Par (Life) fund, 22% of which was invested in Equities as at 31st March 2017. This equity proportion is at the fund level and would be different for an individual policy and would vary during the term of the policy.
HDFC Life ClassicAssure Plus
This plan offers invaluable protection to your family by way of lump sum payment in case of unfortunate demise during the policy term. It comes out with theflexibility to pay premiums annually/half-yearly/monthly/quarterly depending on your convenience.
HDFC Life Super Income Plan
This money back policy offers guaranteed income for a period of 8 to 15 years and is ideal for individuals who need regular income at their disposal so that they don’t have to worry about future expenses and fulfill their financial goals uninterrupted.
HDFC Life Sampoorn Nivesh
An insurance cum investment plan designed specifically with multiple fund options so as to help you optimize your investment. HDFC Life SampoornNivesh provides 3 benefit options to choose from based on your requirement: Classic,Classic Plus,and Classic Waiver.
HDFC SL ProGrowth Flexi
Apart from the basic cover, this plan offers the flexibility to move your accumulated funds from one fund option to another anytime or redirect future premiums into a different selection of funds.
HDFC Life ProGrowth Plus
This ULIP plan will help you to make the most of equities by channelizing your savings effectively. Paying premiums is convenient with access to multiple modes – credit card, internet banking, cheque and auto debit facility.
HDFC SL ProGrowth Super II
This plan can be availed by filling theshort medical questionnaire, which may not require you to go for medicals. Paying premiums is convenient with access to multiple modes – credit card, internet banking, cheque, auto debit facility.
HDFC SL Crest
It is a short-term Unit Linked Insurance Investment Plan (ULIP) which helps you to achieve your investment goals in a brief period of 10 years along with financial protection for your family. Pay premiums for only 5 years to get market linked returns for a period of 10 years.
HDFC SL ProGrowthMaximiser
Single Premium ULIP Plan- Under the plan, you will get Free Asset Allocation option that enables you to invest in 4 fund options available. You can plan your own investment strategy by switching between the funds as desired.
HDFC Life Uday
This plan offers you the benefits like guaranteed additions and bonuses while ensuring that your family receives a lump sum benefit in case of your unfortunate death.
HDFC Life Capital Shield
This plan protects your investment from market risks with an assured maturity benefit of 101% of total premiums paid.
HDFC SL Sarv Grameen Bachat Yojana
This plan offers strong returns even on an investment as small as Rs. 200 by adding 50% to the original investment in 5 years. Apart from guaranteed returns, this plan offers the essential security of a life insurance.
HDFC Life Pragati
It meets dual objectives of Savings and Protection so that you can continue providing your family with the quality of life and peace of mind.
Health Insurance is a kind of insurance that provides coverage for medical expenses to the policyholder. Depending on the health insurance plan chosen the policyholder can get coverage for critical illness expenses, surgical expenses, hospital expenses etc.
HDFC Life Cancer Care
Comprehensive Cancer Care plan that offers lump sum benefit on diagnosis of Early Stage and Major Cancer which effectively helps in protecting your income and savings from huge expenses.
HDFC Life Easy Health Plan
Critical illness insurance provides a lump-sum payment in-case the policyholder is diagnosed with a health-related condition of a serious nature. Some of these common critical illnesses include Heart attack, Cancer, Paralysis, Coronary artery bypass surgery, Major organ transplant (e.g. heart, lung, liver, pancreas), Stroke, Kidney Failure.
Click 2 Protect Health
HDFC Life and Apollo Munich Health Insurance have joined hands to bring you the benefits of health and life insurance in a comprehensive and affordable Click 2 Protect Health.
HDFC Life Cardiac Care
A comprehensive plan aimed at providing financial protection in case you are diagnosed with a cardiac condition or are undergoing a procedure as covered under the policy.
Pension plans also known as retirement plans are investment plans that let you allocate a part of your savings to accumulate over a period of time and provide you with steady income after retirement. Even if a person has a good amount of savings, a pension plan is nevertheless crucial.
HDFC Life Personal Pension Plus
It is a participatory traditional pension plan with a funding horizon of 10-40 years. The plan lets you pick out the price of charges on monthly/quarterly/1/2-yearly/annually and pays an assured advantage of 101% of all premium for demise. You can additionally pick from a number of annuity alternatives at vesting (on maturity) and get assured earnings for life. In addition, the plan affords tax benefits under Sec 80CCC.
HDFC Life Guaranteed Pension Plan
This plan provides guaranteed additions 3% of sum assured get accrued for each completed policy year. The premium payment term is of 5,7 and 10 years and the a lump sum vesting addition is payable vesting. This plan in India can be taken only on a single life basis with policy term ranging from 10 to 20 years.
HDFC Life New Immediate Annuity Plan
It is a non-connected conventional annuity plan that assures monetary independence after your retirement. It also offers you the chance to choose the frequency of annuity payment-monthly/quarterly/1/2-yearly or annually and you could acquire this so long as you or your companion lives.
HDFC Life Pension Super Plus
This is a unit-linked pension plan that helps you to collect a corpus fund to look you through the retirement years. The plan invests charges dynamically between fixed Income avenues and equities. Death advantages to the nominee in case of insured's loss of life, 102.5% of premium allocation 11 years of investment onwards and assured advantages of fund price or 101% of charges are other functions of the plan.
HDFC Life Single Premium Pension Super Plan
It is a unit-linked premium insurance that creates a corpus over the coverage duration to generate post-retirement income for life. It gives you the ability to pay a single premium, and further top-up premiums. It also gives an assured value of 101% of your single and top up rates as maturity benefits (on vesting).
HDFC Life Assured Pension Plan-ULIP
It is a plan that gives you a guaranteed income to revel in your retirement years. There are assured addition of 3% for each policy year. The assured death advantage of general premium paid compounded at an annual rate of 6%.
HDFC Life Qualifying Recognized Overseas Pension Scheme (QROPS)
If you spent your work life in the United Kingdom, however, want to switch to India where you want to spend your remaining years, then HDFC Life Qualifying Recognized Overseas Pension Scheme (QROPS) is for you. This is a tax efficient retirement product registered as QROPS with HMRC and has the following benefits:
1.Tax-free transfer of your pension fund accrued in the united kingdom to India
2.Post-retirement in India, you may earn a constant income
3.Your budget can continue to grow in India
HDFC Life Click2Retire - ULIP
It is a unit linked insurance plan, mainly designed to fulfill your retirement wishes. The plan facilitates you spend your retirement days in comfort through presenting complete insurance and a number of flexibilities. The HDFC life Click2Retire additionally permits you to invest in three one-of-a-kind budget inclusive of Pension Plus fund, Pension income Fund, and the Pension Conservative Fund and get assured returns on your investments.
There is really no better gift you can give your child, than the promise of a secure future with child plans that encompass child insurance plans & child education plans.
HDFC Life Youngstar Super Premium
HDFC SL YoungStar Super Premium, a unit-linked insurance plan (ULIP) designed to accumulate savings for your child's future, even in your absence.
HDFC Life YoungStarUdaan - Child Plan
A traditional participating insurance plan. This plan is ideal for parents who wish to make provision forAcademic expenses that occur prior to acollege education.Specific goals like college fees or marriage expenses along with all miscellaneous and extracurricular expenses that occur during college/school will be covered.
omen’s insurance plan caters to different financial needs of women. Women’s plans are a set of specially created and hand-picked products which suit the needs of women at different stages of their life; such as protection, health, retirement, child’s education and long-term savings and investments.
HDFC Life Smart Woman Plan
HDFC Life Smart Woman Plan, a life insurance policy for women that gives wings to your aspirations. The plan ensures your savings grow leaving you free to pursue your career and continue making a difference to those around you.
Below is the combination of two or more plans that provides the needful and adequate coverage which can go well with a person’s requirements.
HDFC Life Click2Protect 3D plus + Cancer Care
A plan option that covers all three dimensions Death, Disease,and Disability. It provides lump-sum benefit on death or diagnosis of Terminal Illness similar to Life option along with the cancer cover.
HDFC Life Click2Protect 3D plus +Critical Illness Plus Rider
It offers comprehensive security at an affordable pricealong with the critical illness cover. It maintains the family’s standard of living even in one’s absence.
HDFC Life Click2Protect 3D plus + Income Benefit On Accidental Disability Rider
Offers 9 options to choose from. It also provides lump sum payout on death or diagnosis of terminal illness. It also provides anadditional stream of income on accidental disability.
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