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HDFC Term Insurance
  • MWPA Enrolment Benefit
  • 19 critical illness cover
  • Waiver of premium for CI
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HDFC Term Insurance

HDFC Term Insurance helps you in securing your family's financial future if something unfortunate happens to you. Given how uncertain life has become, it is of utmost importance for an individual to have term insurance. It eliminates the financial risks your family might get exposed to in your absence.

The term plans offered by HDFC Life offer high coverage at low premiums making it affordable and accessible to all. Alongside, HDFC Term Insurance Plans come with riders like critical illness coverage, accidental disability rider and so on.

HDFC Term Insurance Plans also consist of an option to customize your insurance in a way that uses a part of your lump sum to invest in an annuity plan for the nominees ensuring that the family members of the insured get a regular income.

Key Features of HDFC Term Insurance Company

HDFC Term Insurance offers an economical way of securing your family after you. Lets have a look at some of the brilliant features of the policy making it one of the best available term insurance plans in the domain.

  • Annual Premium: As per the IRDAI report 2020-21, HDFC Life Term Insurance recorded an annual premium of Rs. 38,583.49 Crores.
  • Solvency Ratio: The solvency ratio of the company helps an individual ascertain the company's ability to meet its long-term financial obligations.
    The Solvency Ratio of HDFC Life Term Insurance company for 2020-21 is 1.99 (As per the IRDAI, it is mandatory for every life insurer to maintain a solvency ratio of 1.5).
  • Claim Settlement Ratio: The company holds a good and reliable claim settling process with a CSR of 98.01%. (CSR as per IRDAI).
  • Operating Network: HDFC Life Insurance Company has 300+ branches across India and additional distribution touch-points through several new tie-ups and partnerships. Apart from its PAN India presence, it has more than 300 partnerships, comprising traditional partners such as SFBs, MFIs, and NBFCs. Moreover, it also has a strong base of financial consultants.
HDFC Term Insurance Key Features

All You Need To Know About HDFC Term Insurance? Find complete details in one go!

HDFC Term Insurance Plans Why Buy HDFC Term Insurance? Riders Check HDFC Term Permium Calculator Buying ProcessClaim Settlement Process
HDFC Term Insurance
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Benefits of HDFC Term Insurance Company

  • Affordable Premium Options: HDFC Term Plans are cost-effective and affordable premiums won't compromise your budget.
  • Flexible Plans: HDFC Term Plans offer various coverage options, giving you the freedom to select a plan that meets your needs.
  • Healthy Lifestyle Benefit: HDFC Term 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 Term Plans under sections 80C and 10 (10D) of the income tax act 1961.
  • MWPA Enrolment Benefit: You can enrol in the HDFC term insurance plans under the MWPA act to ensure your death benefit is legally secured only for your loved ones.

HDFC Life Term Insurance Plans

To secure your family's needs, HDFC Life Term Insurance offers three term insurance plans, from which you can choose well-suited plan for yourself:

HDFC Life Click 2 Protect Life

HDFC Click 2 protect life is a comprehensive plan, offering 3 different variants and an unlimited life cover.

Unique Features

  • Special premiums for non smokers.
  • Premium waivered for critical illness.
  • Avail Survival benefits.

HDFC Life Quick Protection Plan

A comprehensive term insurance plan that offers protection against Death, Disease & Disability. 3 different plan options to choose from – 75 lacs, 1cr, 1.25cr.

Unique Features

  • Coverage for 19 Critical Illnesses.
  • 2x coverage for accidental death.
  • Quick Issuance with no medical.

HDFC Life Saral Jeevan Bima

HDFC Life Saral Jeevan Bima, a term insurance plan providing flexible premium payment terms and additional rider options to customize your plan.

Unique Features

  • Flexible premium payment options.
  • Additional protection through riders.
  • Avail Tax Benefits

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HDFC Term Plan Riders

  • HDFC Life Income Benefit on Accidental Disability Rider

    Accidental disability may affect your ability to perform even some of the simplest tasks. HDFC Accidental Disability Rider provides you coverage against any form of disability caused due to unfortunate accidents and helps you secure a monthly income. The rider aims at providing your family with a regular income in case of any accidental disability which means that there is no death benefit involved. This rider can be taken on a single life basis at inception or on the subsequent policy anniversary.

  • HDFC Life Critical Illness Plus Rider

    Critical Illness Plus rider is designed to financially protect you and your family. This rider provides a lump sum benefit on diagnosis of any one of the 19 critical illnesses which you can use to cover expenses associated with the illness.

  • HDFC Life Protect Plus Rider

    Life protect plus rider offers you three different options to select from.

    • Personal Accident Cover - Benefit shall be paid out on the following events: Accidental Death, Accidental Total Permanent Disability(ATPD) and/or Accidental Partial Permanent Disability(APPD).
    • Accidental Death Cover - In an unforeseen event of death of the life assured or policyholder due to accident during the rider term, 100% of the rider sum assured will be paid to the nominee.
    • Cancer Cover - A lump sum benefit is paid on diagnosis of Carcinoma-in-situ or malignant cancer, early-stage cancers, or major cancer.

Calculate HDFC Term Insurance Premium

To calculate HDFC Term Insurance Premiums, policyholders can turn to HDFC Term Insurance Premium Calculator. It is an online tool that allows the policyholder to calculate their term plan premiums in advance.

Take a look below at some of the sample premiums of HDFC Term plans:

HDFC Life Click 2 Protect Life

Sum Assured (in Rs.) 25 Lakhs 50 Lakhs 1 Crore
Monthly Premium Payable(in Rs.) 1,638 818 1,418

* Premiums calculated for a 30-year old, non-smoker male. Chosen plan option is "Life Cover only" with a premium payment term of 40 years.

HDFC Life Saral Jeevan Bima

Sum Assured (in Rs.) 15 Lakhs 25 Lakhs 35 Lakhs
Monthly Premium Payable(in Rs.) 571 837 926

* Premiums calculated for a 30-year old, non-smoker male. The chosen premium paying term and policy cover is of 10 years.

HDFC Life Quick Protection Plan

Sum Assured (in Rs.) 75 Lakhs 1 Crore 1.25 Crore
Monthly Premium Payable(in Rs.) 1,345 1,449 1,791

* Premiums calculated for a 30-year old, non-smoker male. Premiums are illustrated for a policy term and premium payment term of 40 years.

How To Buy HDFC Term Insurance Plans?

HDFC Life allows you to buy a term insurance plan 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 the buying process.

Steps to buy from HDFC Life Insurance company

  • Visit the official website of HDFC Life Insurance Company.
  • Click on 'All plans' on the navigation bar and select 'Term Insurance Plans'.
  • Click on the 'buy now' button and fill in the required details.
  • Tap on 'next' and select a plan as per your requirements.
  • 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.

Steps to buy from PolicyX.com

  • Fill out the form given at the top of this page with the necessary details.
  • Select your income and city. Click on 'Proceed'.
  • Update your education and occupation details.
  • Choose your preferred plan and click on 'Buy this plan'.
  • Select policy term, premium period, and riders (if required) and then proceed to do the payment.

**Once the payment is made, you will get a payment confirmation at your registered email address.

How to File HDFC Term Insurance Claims?

Filing a claim for HDFC Term Plan is a simple and hassle-free task. You can easily fill and submit their claims online or offline. To file a claim for HDFC Term Plan, you need to follow the below-mentioned steps.

1. Claim Intimation

Inform the company about the incident via various channels- by writing an email at claims@hdfclife.com, calling on the toll-free number (1860 267 9999), filling the online claim form on its website, or by visiting the nearest branch. The following details have to be provided during the intimation of your claim:

  • Name of the policyholder
  • Policy number
  • Date of death/event of the life assured
  • Nominee name
  • Cause of death
  • Contact details

A claim reference number/intimation number will be provided to you upon successful registration of the claim.

2. Document Submission

Submit the necessary documents requested by the company to process the claim. In the case of natural death-

  • Death claim form
  • Death certificate
  • Original policy documents
  • Claimant's identity & residence Proof
  • Medical records
  • Account details of the nominee

In the case of unnatural death (Accidental death/Murder/Suicide)-

  • Death claim form
  • Death certificate
  • Account details of the nominee
  • Original policy documents
  • Claimant's identity & residence Proof
  • FIR, police inquest report & panchanama.
  • Post mortem report

3. Claim Settlement

After receiving all the documents and claim forms, the company will verify the details as per their norms. 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 call or email.

Know more About HDFC Term Claim Settlement Ratio

How to Contact HDFC Life Insurance Company?

HDFC Life Insurance Contact Address

HDFC Life Insurance Company Limited, Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011

buyonline@hdfclife.in

1800 266 9777
(Available from 9:00 am to 9:00 pm IST)

HDFC Term Insurance: FAQs

1. Are the term insurance plans by HDFC available for NRIs?

Yes, NRIs who hold dual citizenship and qualify as citizens of India can purchase HDFC term plans.

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

The claim decision will be communicated within 15 days after the claim has been examined and approved. The company may ask for extra documents to support the claim.

3. What are the contact details for NRI customers?

For NRI customers Only: Toll-free Number: 1800-267-9999 10:00 am to 7:00 pm (Monday to Saturday as per IST). E-mail: NRIservice@hdfclife.in

4. Can I link my home loan or any other loan with my HDFC Term Insurance plan?

Yes, you can, if you are the primary borrower of the loan. Write to service@hdfclife.com

  • SMS / Email on Policy Issuance with the Policy Number.
  • SMS / Email on Policy Dispatch with the courier details.

5. Is it possible to reduce the amount of sum assured to decrease premiums for my HDFC Term Plan? If yes, then how?

Yes, it is possible. There are 3 options to proceed:

  • Adjust the sum assured within the paid premium.
  • You can remove riders if any.
  • You can change the premium payment frequency or the policy term

6. Do I need to pay for the medical tests required to buy the HDFC term plan?

In the case of routine medical tests, the company will cover its expenses. In the case of additional medical tests being conducted outside India, its expenses will be borne by the policyholder.

7. Is it possible to change the premium frequency after the policy has been issued?

Yes, you have an option to alter the premium payment frequency during the premium payment term without any charge/ fee.

8. Does HDFC Term Plan offer any free-look period?

Yes, the company offers a free-look period of 15 days if you are unsatisfied with the HDFC Life Term Plan's terms & conditions, you have the right to cancel your HDFC Life Term Insurance policy within a free-loom period.

9. What are HDFC Term Plan Riders? Do I really need them?

HDFC Life Insurance Term Plan rider is an add-on feature that provides you with additional coverage for an additional fee. A rider can boost the value of your total term policy by adding several extra advantages to what your term insurance plan currently provides.

Since the premium you need to pay to buy riders is quite nominal and affordable, one should definitely consider enhancing their protection with HDFC Term Plan as per their needs and requirements.

10. How many Riders are available under HDFC Term Insurance Plan?

To enhance your insurance cover, HDFC Term Plan offers three riders, namely

i) HDFC Life Income Benefit on Accident Disability Rider

ii) HDFC Life Critical Illness Plus Rider

iii) HDFC Life Protect Plus Rider

11. From where I can check the complete details of the HDFC Life Term Insurance?

To get reliable and unbiased information on HDFC Term Policy, you can go through the annual reports of IRDAI. The yearly reports will compare all the companies in several factors and will help you to make an informed decision.

12. How can I calculate my HDFC Term Plan Premium?

To calculate the HDFC Term Plan Premium, one can use the HDFC Term Insurance Premium Calculator. The calculator will help you to get an estimate of how much you need to pay in monthly or yearly premiums for your insurance policy.

13. Which critical illnesses are covered under the HDFC Life Critical Illness Plus Rider?

The following critical illnesses are covered under HDFC Life Critical Illness Plus Rider:

  • End Stage Liver Disease
  • End Stage Lung Disease
  • Open Heart Replacement or repair of heart valves
  • Loss of Limbs
  • Loss of Independent Existence
  • Loss of Sight
  • Major Burns
  • Major Head Trauma
  • Permanent Paralysis of limbs
  • Surgery of Aorta
  • Coma of Specified Severity
  • Kidney Failure requiring regular dialysis
  • Major Organ/ Bone Marrow Transplant
  • Stroke resulting in Permanent symptoms
  • Apallic Syndrome
  • Benign Brain Tumour
  • First Heart Attack- of specified severity
  • Open Chest CABG
  • Cancer of specified severity

HDFC Term Insurance Reviews

Read what our customers have to say about HDFC term insurance company

Customer Review Image

Sukhi Singh

Allahabad

September 21, 2021

very decent customer support at policyx.com! my benefits and features of click 2 retire was detailed and i have no confusion

Customer Review Image

Kanak Deol

Chandigarh

September 20, 2021

had a good discussion with one the agents at policyx,com! i mean the person was deeply knowlegeable and it was very helpful! Will recommned going forward!

Customer Review Image

Surbhi Verma

Mysore

September 20, 2021

I bought the click 2 protect plan to secure myslef...I think policyx did a fab job piking the right plan for me! got a decent bunch of benefits

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Kanak Goel

Mumbai

September 17, 2021

This is the second term plan that I m buying from policyx.com. I want to make sure my family has enough after my death so I figured HDFC was a safe bet

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Kinshuk Chabra

Bhopal

September 16, 2021

with corona and my brother s death due to it, our entire family was in shock. but I went to personally claim the policy after hs death ...it was policyx which guided me and made sure that proce...

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Kushagra M

Pune

September 16, 2021

I purchased my life insurance plan from policyx after my sister suggested it...they made the whole process like 10x easier...so super satisfied

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Jagjeet

Indore

September 13, 2021

policyx was the one who got everything done...it was so simple and quick. i was surprised to see isuarnce has become so convenient

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Siddharth Mahajan

Kanpur

September 13, 2021

bahut khushi hui customer support je bat kar ke...kaafi jaankari thi unhe and bahut hi saral buying proces tha...thnx policyx for the help