HDFC Life Group Term Insurance Plans
  • Features of group plans
  • Benefits of group insurance
  • Eligibility of group plans
Buy Policy in just 2 mins

Buy Policy in just 2 mins

Happy Customers

2 lakh + Happy Customers

Free Comparison

Free Comparison

Customized Term Insurance Plan for you.

Get upto 10% Online Discount*



Protect your Employees with HDFC Group Term Insurance Plans

The growth of any organization depends on their dedicated employees. However, employee satisfaction depends on several factors, such as career growth, work environment, recognition and not to forget financial security. Now, it has become essential for companies to offer their employees a group term insurance plan as one of the employment benefits.

HDFC Life provides several group plans with high life cover in exchange for cost-effective premiums - so get ready to protect your employees from uncertainties.

What is a Group Term Life Insurance?

A group term life insurance plan is a financial product in which a single policy covers a group of people for a significant period in exchange for fixed, affordable premiums.

The main objective of group term insurance is to offer the dependents or nominees life cover if something happens to the insured person throughout the policy tenure. However, the death benefit is paid out to the nominee either as a lump sum or monthly payout.

Basically, group plans are ideal for businesses to guarantee employee satisfaction and give financial security. If an employer buys a group term insurance policy, the employer becomes the policyholder, and one of the family members of an employee becomes the nominee.

It is even more cost-effective than buying a separate term plan for each employee.

Key Features of HDFC Group Term Insurance Plans

HDFC group term insurance plans are pure protection plans popular among companies/businesses.

Here, we've listed the key features of an HDFC group term life insurance plan:

  • A single policy covers a group of people and provides life cover at affordable premiums.
  • The employer becomes a policyholder covering all employees of the organization.
  • With the HDFC group plan, you'll also get the option of an annually renewable term insurance plan.
  • Flexibility to add or remove employees at any time of the year.
  • The insurer pays the death benefit to the employee's family member in the event of their demise.
  • You can add optional riders such as accidental/ critical illness/disability to the plan.
  • Under the HDFC group plan, it offers the flexibility to cover the member's spouse.
  • The plan comes with a simplified sign-up process for one master policy.
  • A hassle-free claim settlement procedure allows instant settlement.
  • HDFC Life Group Critical Illness Plus Rider provides a part of the sum assured while alive if you are diagnosed with any 25 qualified critical illnesses.

Benefits of HDFC Group Term Insurance Plans

HDFC group term insurance plan has several benefits for both employers and employees.

Benefits to Employer Benefits to Employee
With group plans, a single policy covers a group of people for a significant period at fixed, affordable premiums. It provides death benefits to the employee’s family members against his unfortunate death, accident, or critical illness.
With group plans, the employer can safeguard their employee and their loved ones in case of an unfortunate event. Group plans offer the convenience of no medical tests before the policy.
Buy a high life cover in exchange for cost-effective premiums for a group of people. It also covers employees' housing or vehicle loans given by the employer.
Group plans offer GTI cover for future service gratuity liability. Under the group plan, premiums paid by the employers are not given any privilege to the employer upon cover.
Under section 37 (1) of the Income Tax Act, 1961, the premium paid towards the plan by the employer is tax deductible. With HDFC group plans, the claim settlement process is generally hassle-free and instant.
Flexibility to add or remove the group members into the policy at any time of the year. Critical illnesses are covered under a group plan. Therefore, employees do not have to bear the burden of medical expenses.

Who is Eligible for HDFC Group Term Insurance

HDFC group term insurance eligibility criteria may vary from plan to plan. Generally, all employees are immediately added to the base cover once they fulfill the eligibility requirements. However, requirements may vary by plan and employer. It includes specific periods in the organization or the age limit between 18 years old and 65 years old.

Here, we've listed the groups those are eligible for group term insurance plan

  • Employer-employee groups
  • Microfinance institutions
  • Banks and non-banking financial institutions.
  • Small medium enterprises (SMEs)
  • Non employer- employee groups
  • Professional groups
  • Start-ups

How Does a Group Term Insurance Plan Work

According to research, 53% of private companies in India offer term insurance to their employees. Group term insurance is a plan that covers a group of employees who meet eligibility requirements, such as being a permanent employee of a firm for at least 60 days.

However, the employers select the life cover for all the employees. Some organizations provide coverage based on company hierarchy levels. The amount of life insurance coverage is equal to twice the employee's annual pay.

In some cases, the company bears all the premiums of the policy, and sometimes, the employer only pays the minimum amount, and the remaining amount is deducted from the employee's salary.


HDFC group term life insurance plan is a tailor-made policy to meet the requirements of both employers and employees. It is an ideal approach to safeguard employees from unfortunate events as well as guarantee employee satisfaction. Even the premium amount payable under a group term plan is considerably cheaper.

HDFC Life Group Term Insurance Plans: FAQ's

1. What is group policy in HDFC Life?

The HDFC group term insurance plan is a financial product in which a single policy covers a group of people for a significant period in exchange for affordable premiums.

2. What is the coverage period for HDFC group term insurance?

The coverage period for HDFC group term insurance is 1 year or till age 99 years.

3. What is the difference between term and group-term insurance?

Under group term insurance, a single plan covers a group of people; under term insurance, it only covers 1 policyholder.

4. What is the age limit to enroll in HDFC group term insurance?

The age limit to enroll in HDFC group term insurance is between 18 and 65 years.

5. Who is not eligible for HDFC group term insurance?

The person who is not part of the organization is unsuitable for HDFC group term insurance.

Term Insurance Companies

Check and compare plans from 21 IRDAI-approved term insurance providers before purchasing a term plan.

What Our Customers Have to Say

Customer Review Image

Biswajit Barman


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


February 16, 2024

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

Customer Review Image

Rohit Yadav


January 25, 2024 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


January 25, 2024

I got term insurance from 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 ...

Customer Review Image

Megha Kanwal


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...

Customer Review Image

Sukhi Singh


September 21, 2021

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

Customer Review Image

Kanak Deol


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


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

Sahil Singh Kathait

Written By: Sahil Singh Kathait

Sahil is a passionate content writer with over two years of expertise in the insurance domain. He uses his knowledge in the field to create engaging content that the customer can relate to and understand. His passion lies in simplifying insurance terminology, ensuring a hassle-free understanding for potential policyholders. With his outstanding collaborative efforts with people, he understands different perspectives and keeps readers' viewpoints at the forefront of his content writing approach.