HDFC Term With Return Of Premium
  • Death Benefit
  • Reduced Paid Up Benefit
  • Discount On Large Sum Assured
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HDFC Term Plan With Return Of Premium Plan

HDFC Term with Return of Premium Plan offers comprehensive protection which helps the insured to secure their family with with Zero-Cost Term insurance by the way of return of base prmium. This non-linked and non-participating saving life insurance plan ensures financial security for your family. The plan includes many features such as the ability to get insurance coverage without medical tests, a return of the total premium paid upon policy completion, and flexible premium payment options. A person aged between 18 to 50 years can buy the plan and can avail of the benefit of sum-assured options from 5 lakh to 25 lakh. However, the plan doesn't have any rider benefits. Before discussing the plan let us have a brief look at what is zero-cost term insurance.

Zero Cost Term Insurance is a new concept introduced in the world of insurance that offers insurance holders the privilege to exit the term plan at a particular time(decided by the insurer) allowing them to take back the premium amount that they have paid to date. It is a benefit that is slightly different from the return of a premium. Now let us explore the plan in detail.

Eligibility Criteria of HDFC Term Insurance with Return Of Premium

Here is the eligibility table for HDFC Life Term With Return Of Premium Plan:

Entry Age

Min: 18
Max: 50 years

Policy Term

(Limited premium) 10 to 30 Years
(Regular Premium) 12 to 30 Years

Minimum Sum Assured

(Limited premium) 10 Lakh
(Regular Premium) 5 Lakh

Maximum Sum Assured

25 Lakh

Premium Paying Mode

Annual

Key Features and Benefits of HDFC Return of Premium Term Plan

  • Life Insurance Coverage without Medical Tests: This plan offers insurance coverage without requiring you to undergo medical tests, making it accessible and convenient.
  • Return of Total Premiums Paid : At the end of the policy term, 100% of the total premiums are paid and returned to the policyholder, providing a saving factor to the plan.
  • Flexible-Premium Payment Options: The insured has the flexibility to choose between two premium payment options- limited premium, where you pay a premium for 5 years, or regular premium where you pay a premium for the entire policy term.
  • Sum Assured On Death: The plan provides a death benefit that is higher than various options, including the absolute amount assured, 105% of the total premium paid 'X' times the annualized premium, or the sum assured on maturity.  
  • Large Sum Assured Discount: The policy provides a discount on selecting a higher sum assured, this will encourage the policyholder to go for a higher sum assured, which will give them monetary benefits. The insured can benefit from the lower premium rates; for the basic sum assured of 10 lakh and above, particularly for regular premium options.
  • Tax Benefit: The policy offers tax benefits on premiums paid and maturity proceeds, subject to changes in tax laws.
  • Policy Term Options: HDFC Term Life Insurance With Return Of Premium provides the option to give the policyholder the surety that the premium that they have paid for a long time will return to them after the completion of the policy.
  • Premium Payment Mode: Premiums are paid on an annual basis. This means that the individual only has to worry or pay attention to the plan once a year and they get enough time to save the amount to pay the premium.
  • Grace Period: The grace period for this plan is 15 days, during which the policy remains in force without penalties or late fees after the due date of the premium.
  • Reduced Paid-Up Benefit: After paying 2 full years' premium, if further premiums are not paid and the policy is not surrendered, it becomes a reduced paid-up policy. This status entitles the policyholder to a non-forfeiture benefit, which includes a paid-up death benefit and a reduced paid-up maturity benefit.
  • Revival Period: This policy can be revived within 5 years from the date of the first unpaid premium.

Exclusions of HDFC Term Insurance with Return Of Premium

  • Exclusions of HDFC Term Insurance with Return Of Premium
  • Suicide within 12 months from the date of policy commencement.
  • Policy revival results in limited death benefits.
  • There is no pre-existing cover under this plan.
  • No policy loan is allowed under this plan. 

To Conclude

HDFC Term Insurance with Return of Premium is an affordable insurance option providing both protection and return of premium paid upon policy completion. It offers flexibility in premium payments and is suitable for individuals aged 18 to 50 years. However, it lacks rider benefits and has resisted suicide within 12 months.

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:

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 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 Plan With Return Of Premium: FAQs

1. Is a medical test required for coverage under this plan?

Yes, you cannot get the plan without undergoing medical tests.

2. Can I add a rider to HDFC Term Plan With a Return Of Premium?

No, this plan does not provide any rider benefit.

3. Does HDFC Return Of Premium term plan provide surrender benefit?

Yes, the plan provides a guaranteed surrender benefit.

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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.