HDFC Life Smart Term Edge
  • Reduced Paid Up Benefit
  • Death Benefit
  • Surrender Benefit
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HDFC Life Smart Term Edge Plan

If you are in search of a term insurance plan that not only shields your loved ones but also brings you financial rewards upon maturity, then HDFC Life Smart Term Edge is your perfect fit. This is an innovative plan that offers life cover of 75 years and has 3 plan options - Classic, Step-Up, and Comprehensive, ensuring that your needs align with the term insurance plan. The policy offers a return of premium of 150% upon maturity, this feature will ensure that you are making a smart investment for your future. The plan even offers enhanced coverage through additional riders. Let us explore more about the plan and its features one by one.

Eligibility Criteria

The below table will give a glance at the product features and eligibility of different plan variants:

Product Feature Classic Step-Up Comprehensive
Entry Age (Yrs) 18 to 60 18 to 58 18 to 60
Premium Payment Term 12 to 30 12 to 30 12 to 30
Minimum SA 5 Lakh 10 Lakh 10 Lakh
Maximum SA NA NA NA
Maximum Maturity Age (Yrs) 75 70 75
Premium Paying Mode Monthly/Semi-Annually/Annually Monthly/Semi-Annually/Annually Monthly/Semi-Annually/Annually

Read more specifications in the brochure.

Key Features of HDFC Life Smart Term Edge Plan

The plan has various exclusive features that are mentioned below:

  • Enhanced Protection: HDFC Life Smart Term Edge is designed to offer enhanced protection through a combination of flexible policy options and additional riders. It provides financial security for your loved ones while giving you the chance to receive returns on your premiums.
  • Multiple Plan Options: This plan offers three distinct options to fulfill the different needs and preferences of the policyholder. The plan options are as follows:
    • Classic: This option provides a lump sum assured on death and returns 100% of the total premiums paid if you survive the policy term.
    • Step-Up: Similar to the classic option, but with the flexibility to receive a fixed proportion of premiums paid if you survive, based on the chosen policy term.
    • Comprehensive: Combines the benefits of the classic option with the ability to enhance your benefit through "Extra Protection". If you survive the policy term, you receive the total premiums paid (Excluding Extra Protection Premiums).
  • Life Cover: This plan provides coverage up to the age of 75, which will ensure that you and your family will receive long-term financial security.
  • Return Of Premium: This feature ensures that a significant portion of the premiums is returned to you, as the plan offers a return of a premium of 150%. This makes the plan financially rewarding.
  • Rider Option: The plan can be customized through optional riders such as accidental Death and Disability and Dismemberment Rider and Critical Illness Rider (covers almost 25 illnesses).
  • Death Benefit: Death benefit shall be paid as a lump sum on the unfortunate death of the life assured during the policy termination:

    Sum Assured on Death is defined as higher of:

    • 'X' times the Annualized premium for the base policy.
    • Sum Assured on Maturity.
    • The absolute amount assured to be paid on death.
    • 105% of total premiums paid till the date of death.
  • Comprehensive Coverage: The plan offers an all-inclusive coverage including protection for your family and an opportunity for an ROP, ensuring all financial needs are met. And with the help of the riders, the policyholder can enhance the plan, which makes the plan customizable.

Benefits of HDFC Life Smart Term Edge Plan

This HDFC term plan offers a plethora of benefits which are mentioned below:

  • Surrender Value: You can surrender the policy and receive a surrender value that is higher than the Guaranteed Surender Value or Special Surrender Value. This ensures liquidity in case of any unforeseen financial requirements. 
  • Reduced Paid-Up Benefit: The plan offers a safety net to the policyholders who are facing financial difficulties. If you have paid at least two full years' premiums and are unable to continue premium payments due to disability or any other situation, your policy changes to a 'Reduced Paid Up 'status. This status guarantees that your policy stays in force. In case of an unfortunate demise during the policy terms, the Reduced Paid Up Benefit will ensure that your loved ones receive the payout. Similarly, if you reach the policy maturity, the Reduced Paid Up Benefit will be there for you, this feature ensures that the policy remains resilient during tough times.
  • Revival Option: In case the policy lapses due to non-payment of the premiums, you have the option to revive the policy within a specified period of 5 years by paying the due premiums.
  • Tax Benefit: On buying this policy you are eligible for the tax benefits under the prevailing tax laws.
  • Free Look Period: You have a free look period in which you can revise the policy and if you find yourself unsatisfied, return the policy within 30 days for a refund.
  • Grace Period: The plan offers a grace period of 15 days, allowing you some extra time to pay your premiums without any penalty.

Exclusions of HDFC Life Smart Term Edge Plan

It is advised to read all the policy documents carefully before buying the plan, read the following exclusion of the policy to reduce the chances of any future discrepancy:

  • Waiting Period For Suicide: The plan has the time period for 12 months of waiting period in case of suicide. The nominee will receive at least 80% of the total premiums paid or surrender value whichever is greater, if the policy is active.
  • Self-Inflicted Injuries: HDFC Life Smart Term Plan does not cover intentional and self-inflicted injuries.
  • Pre-existing Disease: The plan does not cover pre-existing diseases.

To Conclude

HDFC Smart Term Edge Plan offers valuable protection for your family while also providing the opportunity to receive the return of premium upon the policy maturity. With 3 plan options to choose from and the flexibility to enhance protection through riders, it helps to cater to the various needs of the policyholder. Additionally, the option for reduced paid-up benefits ensures that even if premiums are not paid policyholders can receive the benefits. The plan combines financial security with the potential for savings to provide comprehensive coverage.

HDFC Top Term Insurance Plans

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

HDFC Life Click 2 Protect Life

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

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

HDFC Life Click 2 Protect Super

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

Quick Protect By HDFC Life

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 Life Smart Term Edge: FAQs

1. What is the grace period of the HDFC Life Term Edge Policy?

The Grace period of the plan is 15 days.

2. What is the minimum and the maximum sum assured of the HDFC Smart Edge Plan?

The plan has 3 options here are the minimum sum assured for all variants:

  • Classic: 5 Lakh
  • Step-Up: 10 Lakh
  • Comprehensive: 10 Lakh

There is no maximum sum assured for the plan.

3. What is the waiting period for suicide?

The waiting period for suicide on the HDFC Smart Edge Plan is 12 months.

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What Our Customers Have to Say

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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...

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Allahabad

April 8, 2024

I am very grateful to the insurance experts of PolicyX and Mr. Ankur, who kindly helped me settle the claim of Aegon Life Insurance. Thanks again, I& 039;ll always remember this favor.

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Chennai

April 8, 2024

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April 8, 2024

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Mumbai

March 28, 2024

I would like to inform you that my maturity claims have been settled by SBI Life Insurance on 04.15.2024 and thanks all of you for helping me throughout the claim process.

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Chennai

March 28, 2024

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Goa

March 18, 2024

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Bindiya Sinha

Written By: Bindiya Sinha

Bindiya is a seasoned content writer specializing in keeping readers acquainted with the insurance industry, term insurance developments, and life insurance sector shifts. With an experience of 3 years in insurance, Bindiya ensures that her readers stay well informed with the insurance developments and factually correct information.

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