HDFC Term Insurance Plans
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HDFC Term Insurance Plans

HDFC term plans are pure protection life insurance plans that offer life coverage for a particular term or period. HDFC Life is a well-established and trusted brand in India with a strong reputation for providing high-quality insurance products and services.

About Hdfc Life

HDFC Life Insurance Started its business in India on 23rd October 2000. The company has opened more than 400 branches across various cities, towns, and villages, and its team of 16,000+ employees works 24/7 to resolve every possible customer query. Recently, Hdfc Life opened its liaison office in UAE to understand the business and investment opportunities. (*Source Wikipedia)

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HDFC Term Insurance Plans

HDFC Term Insurance Plans

HDFC Term Insurance

HDFC Term Insurance

Why Should You Choose HDFC Term Insurance?

Since its establishment, HDFC Term Insurance has aimed to provide comprehensive coverage at a lower premium, making it a trustworthy insurance provider in the Indian market. There are many reasons why you should use an HDFC term plan as your term insurance:

  • Good Solvency Ratio

    The solvency ratio showcases the financial health of the insurance provider, indicating the company's financial position in the industry. In the latest report by IRDAI (2021-2022), HDFC term insurance maintains a healthy solvency ratio of 1.89, considered the best in the market. For more info, click on here.
  • Good Claim Settlement Ratio

    The claim settlement ratio determines how many claims are settled by the insurance company during the same financial year. HDFC term Insurance has maintained a very high claim settlement ratio of 99.30% since the beginning, which means almost every claim raised is settled in the same financial year.
  • Ease of Purchase

    HDFC term insurance plans are available offline and online. If you are a working professional with limited time, you can buy it online easily.
  • Flexibility of Plan

    HDFC term insurance plans give flexibility or multiple options for taking the lump sum payout to the nominee in case of the policyholder's death.
  • Availability of Riders

    Riders play a vital role if you have any pre-existing disease or want to increase coverage. HDFC term insurance plans consist of multiple riders, which helps customers understand their requirements and choose the correct Rider.
  • Branch Network

    HDFC term insurance has the highest number of branch networks in the insurance industry; over 400 branches are available all over india.

Types of Term Insurance Plans Offered by HDFC Term Insurance

HDFC Term Insurance offers four types of term insurance plans with multiple flexibilities and unique customer benefits.

  1. Pure term insurance policy/level term insurance

    Pure-term or level-term insurance plans are the most straightforward term plans offered by HDFC Life. These plans only provide a sum assured to the nominee in case of the death of the policyholder. No survival benefits are included in these types of plans.

  2. Return of premium plans

    People are usually concerned about the what-ifs they live the policy duration. Where will the amount of the premium go? So, HDFC Term Insurance has return of premium plans, which gives the premium amounts back to the policyholders only if they survive the policy term.

  3. Increasing sum assured plans

    With the increasing age, income and responsibilities also increase. HDFC Term Insurance offers increasing sum-assured plans that help the policyholders level up the sum assured with duties over time.

  4. Term insurance plan with Income Benefit Plans

    Term insurance is usually taken for income replacement so the families do not suffer financially in case of the death of the policyholder. Income benefit plans are offered where the nominee opt. for the desired sum assured in monthly installments.

Features of HDFC Term Insurance Plans

HDFC Term Insurance Plans offer the following features.

  • Low Entry Age

    HDFC Life Term plans start at a young entry age of 18, so customers can opt for the benefits of term plans at very low premiums compared to any other age slabs. The low entry age of HDFC Term insurance also allows many youngsters of age as low as 18 to purchase term plans and secure their family.
  • Online discount

    HDFC Term Insurance offers a 5% discount on the first premium to the customers who purchase the HDFC Term plan online.
  • Protection as per your term

    In HDFC term insurance, you can choose a time according to your requirements. e.g., if you are a working professional and have many liabilities before retirement, you can opt for term insurance till your retirement.
  • Flexible premium paying options

    In HDFC term insurance, flexible tip-bearing options are available, which means you can select from the monthly, quarterly, half-yearly, and annual premiums.

List of Riders Offered by HDFC Term Insurance Plans

Riders are crucial in increasing your coverage and covering pre-existing diseases. HDFC term insurance policies consist of multiple riders customers can add according to their needs.

Here is the list of riders available in the HDFC Term Insurance Policy

  • Income benefit and accidental disability rider

    Your earning potential is far more valuable than any other valuable asset. Any unexpected accident may restrict your earning abilities and may ruin your dreams. HDFC Accidental disability riders will provide a monthly income of 1% of the total sum assured for a fixed ten years.
  • HDFC life critical illness rider

    Critical illness riders are created to financially cover you and your family if diagnosed with any of the 19 listed critical illnesses. This Rider will provide an assured sum in advance so you can concentrate on getting the treatment done.
  • HDFC Life Protects Plus Rider

    HDFC Life Protect Plus Rider offers three different options from which customers can select.
    • Personal accident cover- Personal accident cover gives the policyholder payout in case of accidental death, accidental total permanent disability, or accidental partial disability.
    • Accidental death cover- Accidental death cover gives the nominee of the policyholder one hundred per cent of the rider sum assured.
    • Cancer cover- Cancer cover helps the policyholder receive a lump sum payout for treatment in case of a cancer diagnosis at any stage during the policy.
Particulars Minimum Maximum
Entry age 18 years 55 years
Maturity age 23 years 60 years
Sum assured INR 5 lakhs INR 10 crores
Policy term 5 years 40 years
Minimum Annual premium INR 12,000 -

Documents Required to buy HDFC Term Insurance Policy

Documents required to purchase an HDFC term insurance policy depend upon the profession of the customer:

For Salaried

  • Photo ID Proof (either of one) - Passport, Aadhar card, Pancard, Driving license.
  • Age proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
  • Address proof (either of one) - Utility bill, passport, voter ID, ration card.
  • Income proof ( either of one) - bank statement, last three months' salary slips.

For self-employed

  • Photo ID Proof (either of one) - Passport, Aadhar card, Pancard, Driving license.
  • Age proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
  • Address proof (either of one) - Utility bill, passport, voter ID, ration card.
  • Income proof (either of one) - Bank statement, form 16, last three years ITR filled.

Where to Buy HDFC Term Policy

As you figure out, HDFC term insurance has the best term insurance plans that fulfill all your requirements and come within your budget. You are thinking about where to buy a policy. So, you can buy this HDFC term insurance policy from policyx.com or HDFC Life.

From Buying policyx.com

  • Fill out the form 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 the policy term, premium period, and riders (if required) and then proceed to pay.

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

How to Raise a Claim in HDFC Term Insurance Plans

HDFC term insurance made the claim process a convenient and hassle-free procedure. Customers can easily file a claim using both online and offline methods. To raise a claim in HDFC term insurance plans, the customer needs to follow the below steps:

  1. Informing HDFC term insurance

    The first step is to notify the HDFC term insurance about the incident from any of the given mediums: Emailing at claims@hdfclife.com OR Calling at 1860 267 9999 (Toll-free)

  2. Filling the Claim Intimation Form

    After informing HDFC term insurance, you have to file a claim intimation form online or offline at your convenience. The basic details you have to fill in:

    • Name of the policyholder.
    • Date of death
    • Cause of death
    • Policy number
    • Nominee details
    • Contact details
  3. Document submission

    Once you inform the HDFC term insurance and fill out the claim intimation form, it's time to submit the documents to process the claim further. Here is a list of documents that are required to be submitted.

    In case of natural death

    • Death claim form.
    • Original policy documents.
    • Medical records.
    • Death certificate
    • Nominee resident proof
    • Account details of nominee

    In case of accidental death, suicide, murder

    • Death claim form
    • Original policy documents
    • FIR, police inquest report & pancha-nama of tehsil.
    • Death certificate
    • Claimant's identity & residence Proof
    • Post mortem report
    • Account details of the nominee
  4. Claim settlement

    Once you submit all the documents to the HDFC term insurance, you are accessible from your side. Now, the company will verify all the records from their end. After successful verification, the total sum insured by the policy will transfer to the nominee's bank accounts.

How to Contact my HDFC Life for Your HDFC Term Plan

There are offline and online ways to contact your HDFC term insurance team to settle claims or buy or renew your policy.

For offline-

You can visit any branch office near your office. HDFC term insurance has over 400 branches that are available all over india. Here is the list of significant city branches and their addresses.

City Branch address
Mumbai Office 5th floor, IL&FS Financial Centre, PN C 22G, G Block BKC, Kurla Cplx, Bandra East, Mumbai, Maharashtra 400051
Delhi Office No F48, 3rd Floor, EROS 48, South Extension I, Block F, New Delhi, Delhi 110049
Indore Office 1st Floor, Plot No 19, 1, Sapna Sangeeta Road, above Bank of Baroda, Snehnagar, Indore, Madhya Pradesh 452007
Bengaluru Office 9, 4th Flr, Esquire Centre, Mahatma Gandhi Rd, Bengaluru, Karnataka 560001
Lucknow Office at Cyber Heights, Ofc Space No. 305 /A & B , 3rd PNo., Gomti Nagar, Vibhuti Khand, Lucknow, Uttar Pradesh 226010
Hyderabad Office at Ashoka Raghupathi Chambers, 1 to 62, 3rd Flr, Begumpet, Hyderabad, Telangana 500034
Pune Office No 301A, 314A, 314B, 315A, 315 B 3F, City Mall, SNo 132/B/1, Shivaji-nagar Nagar main Road, Maharashtra 411007
Chennai Office No 32/3, 1st Floor, Velachery Main Road Velachery Chennai - 600042
Patna Office at 2nd Floor, Bhagwati Dwarka Arcade, Brajkishore Path, opp. Bank of Maharashtra, Patna, Bihar 800001
Jaipur Office No S/54B, 2nd & 3rd Floor, Scheme C, Opposite Jai Club, Arvind Marg, Jaipur, Rajasthan.

For Online-

Domestic NRI
Toll free-1800 266 9777
Email- buyonline@hdfclife.in, claims@hdfclife.in
Whatsapp- 8291890569
Contact- 8916613503
Email- buyonline@hdfclife.in, claims@hdfclife.in

Conclusion

HDFC Life offers a complete and wide variety of term insurance plans for every category of people. HDFC term insurance also has an excellent claim settlement ratio, highlighting the company's outstanding financial report & with over 400+ branch offices all over india. HDFC term insurance plans are worth and appropriate for financial protection for loved ones.

HDFC Top Term Insurance Plans

A plan offering spouse benefits, premium waivers, premium refunds, and death benefits. It is a flexible protection plan that adapts to your changing needs.

Unique Features

  • Return of Premium
  • Offers coverage for whole life
  • Regular monthly income

HDFC Life Click 2 Protect Life (Pros)

  • Auto Balances Death Cover
  • Auto Balances Critical Illness cover
  • Reduce Premium Payment Term

HDFC Life Click 2 Protect Life (Cons)

  • No Suicide Cover
  • No War Injury Cover
  • No Adventure Sports Cover

HDFC Life Click 2 Protect Life (Other Benefits)

  • Life & CI Rebalance
  • Maturity Benefit
  • Waiver Of Premium

HDFC Life Click 2 Protect Life (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 20 L
  • Maximum Maturity Age - 75 years
  • Premium Payment Term - SP/RP/LP

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

Unique Features

  • Lump Sum Variant
  • Income Variant
  • Guaranteed Surrender Value

HDFC Life Saral Jeevan Bima (Pros)

  • Discount on Higher Premiums
  • Policy Loan Available
  • No Interest on ROP Minors

HDFC Life Saral Jeevan Bima (Cons)

  • No Alterations Allowed
  • No Death Benefit on Income Payout
  • Advance premiums for monthly payment mode

HDFC Life Saral Jeevan Bima (Other Benefits)

  • 3 Rider Options Available
  • Premium Payment Flexibility
  • Tax Benefits on Premiums and Maturity

HDFC Life Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age - 30 Days
  • Max Entry Age - 65 Years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - 85 years
  • Premium Payment Term - RP/SP

A term plan that offers all-around protection to the policyholder as it protects against 36 critical illnesses, accidental death benefits, etc.

Unique Features

  • Life Stage Option
  • Multiple Coverage Options
  • Increasing Death Benefit

HDFC Life Click 2 Protect Super (Pros)

  • Terminal Illness Benefit
  • Smart Exit Benefit
  • Acceleration Death Benefit

HDFC Life Click 2 Protect Super (Cons)

  • 1 Year WP for Suicide
  • No Policy Loans
  • No Pre-existing Conditions

HDFC Life Click 2 Protect Super (Other Benefits)

  • Death Benefit in Instalments
  • RP, WOP & 3 Riders
  • Additional Cover for Spouse

HDFC Life Click 2 Protect Super (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age - 84 years
  • Minimum Sum Assured - INR 5,000
  • Maximum Maturity Age - 85 years
  • Premium Payment Term - RP/SP/LP

HDFC Life Term With Return Of Premium

This plan guarantees a return of total premiums paid upon policy survival and comes with a high sum assured.

Unique Features

  • High Sum Assured discount
  • Premium Discount for Females
  • No Medical Tests

HDFC Life Term With Return Of Premium (Pros)

  • Premium Payment Options
  • Absolute Amount Assured Paid
  • Tax Benefits on Premiums and Maturity Benefit

HDFC Life Term With Return Of Premium (Cons)

  • No Discount on Limited Pay
  • No Riders Available
  • No Policy Loan

HDFC Life Term With Return Of Premium (Other Benefits)

  • Guaranteed Surrender Value
  • Guaranteed Maturity Benefits
  • No Waiting Period on Accidental Death

HDFC Life Term With Return Of Premium (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 50 years
  • Minimum Sum Assured - 10 L
  • Maximum Maturity Age - 65 years
  • Premium Payment Term - LP/RP

HDFC Life Smart Term Pro

This plan provides a 100% return of premium upon maturity, offers life coverage up to 80 years, and allows premium payments over 5, 8, 10, or 12 years.

Unique Features

  • Riders Protection
  • Premium Discount for Females
  • Family Income Payout

HDFC Life Smart Term Pro (Pros)

  • Death Benefit
  • Maturity Benefit
  • Death Benefit Payout Options

HDFC Life Smart Term Pro (Cons)

  • Reduced Paid-up Benefits
  • Reduced Paid-up Death Benefit
  • No Adventure Sports Cover

HDFC Life Smart Term Pro (Other Benefits)

  • Guaranteed Surrender Value
  • 80% Premiums on Suicide
  • Guaranteed Sum Assured on Maturity

HDFC Life Smart Term Pro (Eligibility Criteria)

  • Entry Age - 30 Days
  • Max Entry Age - 60 years
  • Minimum Sum Assured - 15 L
  • Maximum Maturity Age - 80 years
  • Premium Payment Term - 5/8/10/12 yrs

HDFC Life Smart Term Edge

This policy offers up to 150% return of premiums, comes in 3 variants and with critical illness and accident riders.

Unique Features

  • Life Cover till 75 yrs
  • Guaranteed Surrender Value
  • Return of Percentage of Premiums

HDFC Life Smart Term Edge (Pros)

  • 3 Premium Payment Modes
  • Option to Increase Death Benefit
  • 3 Premium Payment Modes

HDFC Life Smart Term Edge (Cons)

  • No Suicide Cover
  • No Policy Loans
  • No Pre-existing Conditions

HDFC Life Smart Term Edge (Other Benefits)

  • 3 Plan Options
  • 100% Death Cover
  • Tax Benefits on Premiums/Maturity/Riders

HDFC Life Smart Term Edge (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 60 years
  • Minimum Sum Assured - 5 Lakhs
  • Maximum Maturity Age- 75 years
  • Premium Payment Term - 12 to 30 Years

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.

Quick Protect By HDFC Life (Pros)

  • Monthly Income For 10 Years
  • Critical Illness Plus Rider
  • Income Benefit Rider

Quick Protect By HDFC Life (Cons)

  • No HIV Cover
  • No Policy Loans
  • No Pre-existing Conditions

Quick Protect By HDFC Life (Other Benefits)

  • Accidental Death Benefit
  • Maturity Benefit
  • Waiver Of Premium

Quick Protect By HDFC Life (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 50 years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 75 years
  • Premium Payment Term - 5 to 40 Years

HDFC Term Insurance: FAQs

1. How do I calculate my HDFC term insurance premiums?

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

2. How many types of HDFC term insurance are available?

Four different types of term insurance are available.

  • Regular term insurance.
  • Return of premium plans.
  • 100% return of premium at no cost term plan.
  • Whole life insurance policy.

3. How do you check the status of HDFC term insurance plans after purchasing?

You can check the status of HDFC term insurance plans on policyx.com and the HDFC leading portal.

4. Are there any tax benefits available on HDFC term insurance plans?

Yes, you can take the benefits under section 80C on income of the same financial year.

5. What documents are required to purchase HDFC term insurance plans?

Here are the documents needed to purchase HDFC term insurance plans in india:

  • Age proof
  • Address proof
  • Income proof

6. What is the minimum age limit for purchasing HDFC term insurance plans?

The minimum age limit for purchasing HDFC term insurance is 18 years, and the maximum is 60.

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HDFC Term Insurance Reviews

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

Customer Review Image

Biswajit Barman

Kolkata

April 20, 2024

Review: HDFC Life Insurance Term Policy HDFC Life Insurance Term Policy stands out as a beacon of financial security and peace of mind in the ever-changing landscape of life insurance offering...

Customer Review Image

Sachin sharma

Chandigarh

February 16, 2024

Smooth experience from quote to claim for my hdfc life insurance, i honestly Impressed with their professionalism and transparency. Definitely policyx.com is my go-to insurance provider.

Customer Review Image

Rohit Yadav

Gurgaon

January 25, 2024

PolicyX.com is easy to use. Everything, from putting in my information to comparing quotes and finishing the application, was simple. It is a good place for anyone who wants term insurance.

Customer Review Image

Deepanshu Mishra

Delhi

January 25, 2024

I got term insurance from PolicyX.com recently, and I am really happy with their service. The website is easy to use, and I found a plan that fits my needs perfectly. The customer support team ...

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Megha Kanwal

Delhi

June 13, 2022

I just received my claim amount of the HDFC Term Policy that my husband had bought for us. Without any hassles I got my claims settled within a month of my husband s death. Thankyou HDFC LIfe f...

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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

Varun Saxena

Written By: Varun Saxena

Varun is a passionate content writer with over three years of experience in the insurance domain. An avid learner, he stays ahead of the industry's trends ensuring his writing remains fresh and includes the latest insurance shifts. Through his work, Varun strives to engage with targeted insurance readers.