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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.
HDFC Click 2 protect life is a comprehensive plan, offering 3 different variants and an unlimited life cover.
Unique Features
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
HDFC Life Saral Jeevan Bima, a term insurance plan providing flexible premium payment terms and additional rider options to customize your plan.
Unique Features
A plan with features such as spouse benefits, premium waivers, premium refunds, and a variety of death benefits. It is a flexible protection option that adapts to your changing needs.
Unique Features
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.
Every term insurance plan comes with additional riders that offer extra coverage against various contingencies like critical illness, accidental disability or accidental death etc. These riders come with added premium costs and offer extended coverage in addition to the main plan benefits. It is therefore, important to choose HDFC Term Insurance Plan so that a complete financial coverage can be ensured at all times for your loved ones.
These days, being on the online mode has ensured that there is increased transparency and accountability together with an increased ease of purchase of the plan. As HDFC Term Insurance Plans have online purchasing as well as claim settlement and claim status checking process.This not only cuts down on unnecessary hassles and unwanted complexities while processing the purchase-request but also ensures that there is a streamlined procedure.
HDFC term insurance plan is in fact, one of the cheapest among the various types of insurance policies that exist. The cheap rates of the term insurance plans make them essential as a core component of the insurance portfolio of any person. A term insurance plan is often considered to be the basic requirement of a successful insurance coverage and must be purchased by all investors.
HDFC term insurance plans come with several options that you can choose from based on your needs and requirements. You can select the policy tenure, premium payment frequency, and the amount of coverage based on your preferences.
Term insurance by HDFC offers tax benefits under Section 80C of the Income Tax Act. Policyholders can claim a deduction of up to Rs. 1.5 lakh on the premiums paid towards your term insurance policy.
HDFC Life term plan has a high claim settlement ratio of 98.66% for the financial year 2021-22, which means that they settle a large percentage of claims that are filed by their customers.
The term plan of HDFC pays the policyholder a pre-determined premium within the stipulated due dates to ensure financial protection for their family in case of their unexpected death during the policy term.
HDFC Life Term Plans enable the family to meet their regular expenses and tackle the inflationary impact, even in the absence of the policyholder. The death benefit can either be a lump sum amount or a mix of a lump sum and monthly income, or a lump sum with increasing monthly income, as opted for by the policyholder.
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.
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.
Life protect plus rider offers you three different options to select from.
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:
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.
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.
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.
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.
**Once the payment is made, you will get a payment confirmation at your registered email address.
**Once the payment is made, you will get a payment confirmation at your registered email address.
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:
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-
In the case of unnatural death (Accidental death/Murder/Suicide)-
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
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)
Yes, NRIs who hold dual citizenship and qualify as citizens of India can purchase HDFC term plans.
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.
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
Yes, you can, if you are the primary borrower of the loan. Write to service@hdfclife.com
Yes, it is possible. There are 3 options to proceed:
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.
Yes, you have an option to alter the premium payment frequency during the premium payment term without any charge/ fee.
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.
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.
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
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.
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.
The following critical illnesses are covered under HDFC Life Critical Illness Plus Rider:
The age limit for buying HDFC Term Insurance is minimum 25 years and maximum 65 years.
The frequency of premium payment for HDFC Term Insurance plans is: annually, half-yearly, quarterly and monthly.
An additional amount equal to the sum assured will be paid to your family. This add-on is only available under the Life Protect variant.
If you don't pay your premium by the due date, you still have 30 days of grace period. Even if you fail to pay within 30 days, then the policy lapses. However, you can still revive your policy within 3 years from the date of lapsation.
Documents needed to buy HDFC Term Insurance are pay slips for the last three months (or IT returns for the last 2 years if you run a business), PAN card, ID proof, address proof, and a passport-sized photograph.
Many insurance providers now-a-days include the clause for return of premium, which entitles the policy holder to receive the paid premiums in the event of plan maturity, although this increases the payable premiums.
Yes. NRI's who hold dual citizenship and qualify as citizens of India are eligible for purchasing HDFC Term Insurance Plan in India.
Unless provided in exclusions in policy document, death in relation to Act of God are not excluded.
Yes, HDFC Term Insurance Plan, once in effect, entitles the nominee(s) of the person even if she/he has died outside India.
Tax benefits under Section 80C are admissible for the HDFC Term Insurance Planto the tune of a maximum of Rs. 1.5 Lac in any given financial year.
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Read what our customers have to say about HDFC term insurance company
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
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!
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
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
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...
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
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
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
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