HDFC Standard is a life insurance company has headquarters in Mumbai. It provides individual and group insurance plans. Basically, it is a joint venture between Housing Development Finance Corporation Ltd (HDFC) and Standard Life Plc, which is a leading provider of financial savings and investment services in the UK. HDFC Ltd., holds 72.37% and Standard Life (Mauritius Holding) Ltd. holds 26.00% of equity and the rest are held by others. HDFC Life's insurance plans includes Protection, Pension, Savings, Investment, Health along with Children and Women plans. It also provides the facility of customizing the plans, by adding optional benefits called riders, at nominal price. The company currently has 37 retail and 8 group products, along with 9 optional rider advantages.
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 basically 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.
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. Except for term Insurance policies, all of the plans are a good investment option.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.
HDFC Life insurance plan is offering a wide range of effective life insurance policies. You can easily get the best one for yourselves.
- HDFC Group Pension Plan
- HDFC Life New Group Unit Linked Plan
- HDFC Life Group Credit Protect Plus Insurance Plan
- HDFC Grounp Unit Linked Pension Plan
- HDFC Life Group Term Insurance Plan
- HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan
- HDFC Life Group Variable Employee Benefit
- HDFC Life Group Credit Protect Insurance Plan
19th Floor, Lodha Excelus,
Apollo Mills Compound, N.M. Joshi Road, Mahalaxmi, Mumbai - 400 011
Tel : 022-67516666
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