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HDFC Life Term Insurance
  • Life cover @ Nominal Cost
  • Flexibility While Choosing The Plan
  • Financial Security @ ₹492/month*
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  • Tax Benefit Under 80C & 10D

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HDFC Term Insurance

Do you have skeptical about your future and worried about your family after your death? Stop worrying, as HDFC life term insurance is here to tackle your insecurities about the protection of your loved ones. HDFC life insurance company is ruling insurance company by creating unique term insurance plans and other related plans for diverse population of India to safeguard their interest.

Everybody knows the worth and popularity level of HDFC Ltd. in various sectors like banking, insurance, financial by connecting with other top-notch international companies. HDFC Life Insurance Company emerged from the joint partnership between HDFC Ltd., financial institution and Standard Life Aberdeen, a global investment company.

Why HDFC Life Term Insurance?

1. Claim Settlement Ratio: HDFC life insurance claim settlement ratio for the current financial year is 97.8% which clearly defines the unique value of company to serve their customers by resolving all the claims and queries on time without any procrastination.

2. Customer Satisfaction: The customer care team of HDFC life term insurance is extremely resolute in offering 24/7 support to each and every query related to claim settlement process, claim status, login issues and other related question of HDFC term plan.

3. Quick Claim Settlement: After you register your term insurance claim with HDFC Life with submission of requisite documents, the company takes 24 hours to process the claim. You can also know the status of your HDFC term insurance claim through calling on toll-free number or writing an email.

4. Online Facility: When you online HDFC term plan, you got majority benefit like hassle-free premium paying, fast claim settlement, and reviewing policy benefits online, etc. Also, with the launch of HDFC Life application, the assured can easily maintain a personal account by filling necessary details about the term plan purchased.

5. Tax Benefits: All the HDFC term plan includes tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961 against the premiums paid and benefits received during the policy term.

6. Awards and Recognition: With the title of “Superbrand of the year” have conquered the trust of customers and have created a lifetime relationship with its existing customers. Also, HDFC Life insurance has ICAI Awards - Gold Shield, Indian Insurance Awards for Best Product Innovation and many more.

7. Low-Cost Term Insurance Plans: HDFC term insurance has cultivated cost-effective and highly economic term plan that allows the policyholders to secure the financial safety of family at cheapest rates of premium.

Types of HDFC Term Insurance Plans

1. HDFC Life Click 2 Protect 3D Plus

This is one of the most overrated HDFC term insurance plans that locks the protection of family by offering lucrative benefits through four cover options as chosen by the assured.

Benefits of buying HDFC Life Click 2 Protect 3D Plus

  • Death benefit is paid in two forms namely-

    1. Lumpsum Payout

    2. Lumpsum Plus Monthly Payout

  • It gives you choices and flexibility by presenting 4 variants or options to avail the profits from the term plan-

    1. Life Option: In a death situation, a lump sum amount will be payable to the nominee and all future premiums will be lessened in case of accidental permanent disability.

    2. Extra Life Option: This HDFC life term plan offers lumpsum amount on death to the nominees, relaxation in the rate of premium on accidental disability and also includes additional coverage for accidental death.

    3. 3D Life Option: This term plan gives 3D protection from Death, terminal illness, accidental death and disability, and Critical Illness through guaranteed lumpsum payment on death/ illness or waiver of premium on disability or critical illness.

    4. Income Option: The options provide the benefits of lumpsum payment as well as monthly increasing income of the sum insured if any contingencies happened during the policy term.

    5. Extra Life Income Option: Again an HDFC term plan option that contains death benefit, terminal illness benefit, accidental death, and permanent disability benefits.

    6. Income Replacement Option: Here, on event of permanent disability all the future premiums are waived off. If death occurs, the sum assured will be divided and paid into 12 equal installments of the increased income of the assured where the income is elevated by 10%.

    7. Return of Premium Option: Through this option, HDFC life is giving the facility to take maturity benefits on

    8. Life Long Protection Option: This option is exclusively for those who desire for financial safety from death, terminal illness, accidental death, and permanent disability for the whole of life.

    9. 3D Life-Long Protection Option: An extension to above HDFC term plan option, this grants complete payment of sum assured on death or detection of Terminal illness. In addition, it also reduces or waives off the future payment of premium if assured was investigated with permanent disability or critical illness

  • Lessens your future financial burden that may crop up from events as declared in term insurance policy such as Childbirth and marriage of children.

  • Protects you from 34 critical illness by granting additional coverage on the investigation of such diseases.

2. HDFC Life Click 2 Protect Plus

This HDFC term insurance plan focuses in providing freedom to assured at the time of buying the policy by bestowing four plan options according to coverage goals of respective assured.

Benefits of buying HDFC Life Click 2 Protect Plus

  • Get a higher amount of sum assured at an affordable rate of premium and thus secure your family from future unexpected and unwanted events.
  • Cover yourself for whole of the life up to 75 years.
  • Flexibility in choosing premium paying term, premium paying frequency and policy term.
  • Heavy discount for non-smoker or the assure who do not consume tobacco.
  • Increase your coverage amount up to 50% for extra financial support in case of life stage events like marriage and birth of children.
  • Select the type of coverage you want from the four HDFC Protect Plus plan options-
    1. Life Option: This is a basic coverage option that fulfills the financial safety of family by paying designated sum assured as a death benefit.
    2. Extra Life Option: This HDFC term plan option is an annex to above plan which offers death benefit in combination with accidental death benefit if the life assured meets his/ her death due to an accident.
    3. Income option: The option largely focuses on providing the death benefit in the form of monthly income to the family left behind to perpetuate living the current lifestyle in the future.
    4. Income Plus option: The family of deceased life assured will get lumpsum payment of sum assured along with guaranteed monthly income for a tenure of 10 years. The income paid is proportionate to 0.5% of sum assured. Income benefit is available in two options: 1.) Level Income and 2.) Increasing Income (@10% per year on each policy anniversary)

How benefits are paid in HDFC Life Protect Plus?

The benefits will be payable with regards to Plan option chosen-

  • Lumpsum Payout: Here, HDFC Life insurance gives your facility to receive full payment of sum assured on death to meet the immediate liabilities.
  • Lumpsum with Regular Income: 10% of the death benefit is payable as lumpsum and the remaining 90% is paid in regular monthly income for 15 incessant years.
  • Lumpsum plus Increasing Regular Income: Firstly, this option is only available under income plus option of HDFC Life term plan where the 100% of sum assured is paid on death. Also, the family is assured with monthly income increasing every year at a rate of 10% and income payable must be equal to 0.5% of the sum assured.

3. HDFC Life Click 2 Protect Health

The combi plan was brought down in the market due to productive efforts of both life insurance companies, HDFC Life and Apollo Munich Health Insurance. This online HDFC Life term plan accomplishes your term insurance needs and simultaneously provide coverage for health insurance.

Benefits of buying HDFC Life Click 2 Protect Health

For Protection:
  • Cheap and affordable premium rates starting from Rs 2,234 annually for regular premium paying policies.
  • Lifelong protection from death (by any cause), terminal illness, accidental total permanent disability, accidental death.
  • Heavy discounts for female policy buyers
  • Rewards for non-smokers who maintain a healthy lifestyle and do not consume tobacco.
  • HDFC Life Click 2 Protect Health provide various options to it policyholders in selecting the right coverage as illustrated below-
    1. Life Option: The family of assured is guaranteed a lumpsum payout of sum assured on death or terminal illness by choosing this HDFC term plan option.
    2. 3D Life Option: Death benefit is payable on the happening of death or on detection of terminal illness. In addition, if the assured during the policy term shows any symptoms of being infected with Critical Illness or permanent disability, the future premiums are waived off.
    3. Extra Life Option: In this option, HDFC life insurance promises to pay the death benefit arising due to natural death, accidental death or terminal illness. This HDFC term plan option is beneficial when you are highly prone to road accidents due to travel during the day and night.
    4. Income Option: If anyone wants to secure the future of family by providing regular coverage in the shape of regular monthly income plus lumpsum payment, then this HDFC term plan option is best. The income will keep on increasing yearly by a simple interest of 9%.
    5. Extra Life Income Option: Lumpsum plus monthly income is payable on death or terminal illness whichever happens first. In addition to death benefit, extra sum assured is payable in lumpsum and regular income for accidental death.
    6. All the future premiums are waived off under this HDFC term plan if any Accidental Total Permanent Disability.
    7. Income Replacement Option: The nominee will receive term coverage after the death of assured in monthly income with reverence to the income option selected (level or increasing income) for a period of 15 years as deciding during the purchase of term plan.
    8. Return of Premium Option: With the help of this HDFC term plan option, the assured will get maturity benefits on the survival of the assured till the end of the policy term.
    9. Life Long Protection Option: Gives you entire life protection with lumpsum payout on death or detection of terminal illness. This HDFC term plan also helps the assured in the time of permanent disability through waiver of future premiums.
    10. 3D Life Long Protection Option: Just like Life Long Protection option, this option also pays death benefit and terminal illness benefit. It also cooperates with assured in case of critical illness where future premiums are relaxed to cope up with the existing financial crisis.
For Health
  • Discount up to 8% on the premium on staying fit and active during the term of policy.
  • Reload you sum assured anytime but one time in a policy term on complete or partial consumption of sum assured and other benefits.
  • Ger maximum coverage up to Rs 50 lakhs
  • Constant coverage with regular renewals on completion of policy year.
  • Cashless treatment at 4500 + network hospitals in over 830 cities
  • Multiplies your basic sum assured by 50% on not raising any claim for a year or more.
  • E-opinion on critical Illness such as-
    1. Cancer of Specified Severity
    2. Chest CABG
    3. Myocardial Infarction (First Heart Attack of specific severity),
    4. Kidney Failure requiring regular dialysis
    5. Major Organ/Bone Marrow Transplant
    6. Multiple Sclerosis with Persisting Symptoms
    7. Permanent Paralysis of Limbs
    8. Stroke resulting in permanent symptoms

Coverage provided for Health under HDFC Click 2 Protect Health

HDFC Protect Health Plan Sum Assured (3 lakhs/ 5 lakhs/ 10 lakhs/ 15 lakhs/ 20 lakhs/ 25 lakhs/ 50 lakhs)
In-patient Treatment (includes Hospital room rent or boarding, Nursing, Intensive Care Unit, Medical Practitioners (Fees), Anaesthesia, Blood, Oxygen, Operation theatre, Surgical appliances, etc) Up to sum insured chosen
Pre-Hospitalization Provided for up to 60 Days (before admission to hospital)
Post-Hospitalization Provided up to 180 Days (after discharge from hospital for same illness)
Day Care Procedures All Day Care Treatments including
Cancer Chemotherapy
Liver biopsy
Coronary angiography
Haemodialysis
Operation of cataract
Nasal sinus aspiration
Domiciliary Treatment Up to sum insured chosen
Organ Donor Up to sum insured chosen
Ambulance Cover Up to Rs. 2,000 per Hospitalisation every year
Emergency Air Ambulance Cover For 3/ 5 lakhs: Not available
For 10/ 15/ 20/ 25/ 50 lakhs: up to Rs. 2.5 Lacs per hospitalization and can be availed up to sum assured in a policy year
Daily Cash Limit under Shared Accommodation For 3 lakhs to 15 lakhs: Rs.800 per day and up to a maximum of Rs.4,800
For 20/ 25/ 50 lakhs: Rs 1,000 per day and up to a maximum of Rs.6,000
E-Opinion in respect of a Critical Illness One opinion in a policy year from the penal of medical practitioners.
Restore Benefit 100% of sum assured
Multiplier Benefit Up to 50% increase in the basic sum insured on a claim free year but increase perentage must not cross 100% of sum assured.
If a claim arises in next year after obtaining multiplier benefit in the previous year, then the sum assured will be reduced by 50%.
Health Checkup 3 lakhs: Not available
5 lakhs: Up to Rs. 1,500
10 lakhs: Up to Rs.2,000
15 lakhs: Up to Rs. 4,000
For 20/ 25/ 50 lakhs: Rs 5000
Critical advantage Rider Only on sum assured equal to Rs.10 Lakh or more.

Eligibility Criteria for HDFC Life Term Insurance

HDFC Life Term Plans HDFC Life Click 2 Protect 3D Plus HDFC Life Click 2 Protect Plus HDFC Life Click 2 Protect Health
Minimum Age of Entry 18 years
25 years (for Life-Long Protection Option and 3D Life-Long Protection Option)
18 years For Protection: 18 years (for all options except two mentioned below)
25 years (for Life-Long Protection Option and 3D Life-Long Protection Option)
For health:91 days (for children)
18 years (for adults)
Maximum Age of Entry 65 years (for all options) 65 years 65 years (for Protection and health)
Maximum Age of Maturity 23 years 75 years (for 3D Life, Income Replacement, Return of Premium)
23 years 85 years (for Life, Extra Life, Income, Extra Life Income)
Whole Life (for Life-Long Protection Option and 3D Life-Long Protection Option)
75 years For Protection:23 years 75 years (for 3D Life, Income Replacement, Return of Premium)
23 years 85 years (for Life, Extra Life, Income, Extra Life Income)
Whole Life (for Life-Long Protection Option and 3D Life-Long Protection Option)
For health:Life long on regular yearly renewals
Term of the Policy 5 years to 40 years (for 3D Life, Income Replacement, Return of Premium)
5 years to 50 years (for Life, Extra Life, Income, Extra Life Income)
Entire Life (Life-Long Protection and 3D Life-Long Protection)
10 years to 40 years (with respect to maturity age of the policyholder) For Protection:5 years to 40 years (for 3D Life, Income Replacement, Return of Premium)
5 years to 50 years (for Life, Extra Life, Income, Extra Life Income)
Entire Life (Life-Long Protection and 3D Life-Long Protection)
For health: 1 year or 2 years
Minimum Sum Assured Rs 10 lakhs Rs 25 lakhs For Protection: Rs 10 lakhs
For health: 3 Lakh/5 Lakh/10 Lakh/ 15 Lakh/20 lakh/ 25 Lakh/ 50 Lakh
Maximum Sum Assured No limitations No limitations No limitations
Premium Paying Term For Life, Extra Life, Income, Extra Life Income, 3D Life, Income Replacement, Return of Premium: Single Pay/ Regular Pay/ Limited Pay (5 to 49 years)/ Limited pay (5 to 39 years)
For Life-Long Protection Option: Limited pay (65 years minus Entry age) or (75 years minus Entry age)
For 3D Life-Long Protection Option: Limited Pay (65 years minus Entry age)
Regular pay (same as the policy term)
Limited pay(premium will be paid for the policy term minus 5 years)
Single Pay (once during the whole policy term)
For Protection:
For Life, Extra Life, Income, Extra Life Income, 3D Life, Income Replacement, Return of Premium): Single Pay/ Regular Pay/ Limited Pay (5 to 49 years)/ Limited pay (5 to 39 years)
For Life-Long Protection Option: Limited pay (65 years minus Entry age) or (75 years minus Entry age)
For 3D Life-Long Protection Option: Limited Pay (65 years minus Entry age)
For health:
Annually for one-year policy
Single for 2 years of policy term
Premium Paying Frequency Single/ Annual/ Half-yearly/ Quarterly/ Monthly Single/ Annual/ Half-yearly/ Quarterly/ Monthly For Protection:
Single/ Annual/ Half-yearly/ Quarterly/ Monthly(for all plans exceptLife-Long Protection and 3D Life-Long Protection)
Annual/ Half-yearly/ Quarterly/ Monthly(forLife-Long Protection and 3D Life-Long Protection)
For health:
Annually for a one-year policy
Single for 2 years of policy term

HDFC Term Plan Exclusions

  • If suicide like situation develops due to sane or insane condition of mind of assured in the first policy year, then the HDFC Life will return at least 80% of the premiums paid till the date of death.
  • If the assured commits suicide within 12 months from the date of revival of the HDFC term plan.

HDFC Life Term Insurance Review

HDFC term insurance has constructed a trusted brand value in the insurance sector by first determining ‘What a customer expects from his/her term insurance plan’. Through impeccable anticipation of customer needs, HDFC Life Insurance introduced several term plans to meet the financial concern and protection needs of the buyer.

With 97.8% of claim settlement ratio and over 6 crores of policyholders, HDFC term insurance plans are among the most preferred and trending plans currently. HDFC term plans not only promises long life protection but also ensures timely coverage to enable the customer to meet immediate responsibilities.

FAQs

What is the Claim process for HDFC Term Insurance Plan?

  • Intimate the HDFC Life about the claim immediately after the incident like death/ critical illness/ terminal illness takes place.
  • Fill the claim intimation form available with nearest branch or online.
  • If HDFC Life accepted your claim, they will send you an acknowledgment letter to submit the related documents for HDFC term plan chosen.
  • The claim amount for HDFC term plan will be paid within a day or 24 hours as promised by the company.

What documents are required for filing a death or accidental death claim under HDFC Term Insurance Plan?

  • Original Death certificate issued by the local municipal body under the authority of Government.
  • Claim Intimation Form (includes NEFT)
  • Original Policy Document (for DEMAT accounts no need)
  • Claimant’s Identity & Address Proof
  • Medical records (Discharge / Death summary, Test results, Admission notes, etc supporting the cause of death.
  • FIR, Police Inquest Report & Panchanama (for accidental death)
  • Post-Mortem Report (for accidental death)
  • NEFT Account details

What documents are needed for filing a critical illness claim for HDFC Term insurance?

  • Claim Intimation Form for critical illness.
  • Original Policy Document (for DEMAT accounts no need)
  • Claimant’s Identity & Address Proof
  • Bank Account Details (IFSC code, original bank statements, canceled personalized cheque, passbook with the name of the claimant imprinted over it)
  • Medical records (Discharge / Death summary, Test results, Admission notes, etc supporting the cause of death

If my HDFC term insurance claim has been accepted, then in how many times I get an acceptance letter?

An acceptance or acknowledgment letter is provided within 15 days after the claim has been examined and approved. They may ask for extra documents to support HDFC term plan claim by asking on an SMS, email, or the same letter.

How much time does HDFC term insurance take to communicate the claim decision?

In case the application of the assured is rejected, then the decision of rejection will be passed within 10 days with the details of rejection.

In case of approval of HDFC term plan claim, an acceptance letter will be provided within 15 days after the documents have been furnished.

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