A to Z about HDFC Life Insurance

HDFC Life Insurance is India’s one of the biggest and most trusted life insurance companies that offer various life insurance plans that fulfill your different needs such as Protection to your life, Retirement money, Investments, and more. 

Features of HDFC Life Insurance

  • It has insured around 4 crores lives till financial year 20-21.
  • It has around 390 branches and partnerships across India.
  • Sum insured Rs. 5,76,239 crores till now.
  • Awarded as a Superbrand 8th time in a row.
  • Claim settlement ratio is 98.01% in FY 2021.

Types of Plans HDFC Life offers 

HDFC Life offers various kinds of Life insurance plans, select as per your requirements.

Term Life Insurance Plan

This plan offers protection for a fixed number of years as the name ‘term’. If the policyholder died during this period, the Death benefit is given to the nominees of this plan. There are two types of term plans mentioned below.

1] HDFC Life Click 2 Protect Life

This plan gives you the option to cover your whole life and facilitates financial protection for your family. All Plan options under this policy are given below.

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Plan optionLife & CI
Rebalance
Life protect
Whole life
Life protect
Fixed Term
Income Plus
Fixed Term
Income Plus
Whole Life
Min. Age entry18 years 45 years 18 years 30 years45 years
Max. Age entry65 years 65 years 65 years 50 years55 years
Min Maturity Age28 years Entire life 18 years 70 years Entire life
Max Maturity Age75 years Entire life 85 years 85 years Entire life
Min. Plan term10 years Entire life 6 years 70 years Entire life
Max. Plan Term30 years Entire life 85 years 40 years Entire life
Min. Sum insured20 Lakhs 50,000 50,00050,00050,000
Max. Sum insuredNo Limit No Limit No Limit No Limit No Limit

“No Limit” is subject to Board Approval Underwriting Policy.

The benefit of HDFC Life Click 2 Protect Life:

  • You have option to cover your whole life.
  • You may get additional sum on accidental death.
  • If you diagnose with criticall illness youe premium may be waved.
  • You can get income payouts from 60 years of age through Income Plus option.
  • Premium vary from plan to plans
  • You get both Maturity Benefit and Death Bnenefit.

2] HDFC Life Saral Jeevan Bima

  • This plan offers financial protection to your family after your demise.
  • No Maturity Benefit available.
  • You will get options yo pay premium.
  • Single, Regular, Limited premium payment options available.
  • Minium Entry age – 18 years, Maximum 65 years
  • Minimum Maturity Age – 23 years, Maximum 70 years
  • Minimum insured amount Rs. 5 lakhs, Maximum “No Limit”.
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Saving Plan

This plan is for future protection and gives you guaranteed returns. There are two types of saving plans mentioned below.

1] HDFC Life Sanchay Plus

  • This plan gives both life long income guaranteed and term income guaranteed.
  • Life long income gaurantee till 99 years of age and term income guaranteed of 20-30 years.
  • You can also choose if you want lumpsum income or in regular installment.
  • You may also be eligible for Tax Deductions under Income Tax Act, 1961.
  • Minium Annual Installment Premium Rs. 30,000, Maximum Installment Premium “No Limit”.
  • Premium Paying term varies from 5-12 years.
  • Policy Term varies from 6-20 years.

3] HDFC Life Sanchay Fixed Maturity Plan

  • You will get option to choose cover on Single life or Joint Life Cover.
  • Minium Entry age – 90days, Maximum 70 years
  • Minimum Maturity Age – 18 years, Maximum 90 years
  • Minimum insured amount Rs. 70,000, Maximum “No Limit”.
  • Minium Annual Installment Premium Rs. 10,000, Maximum Installment Premium “No Limit”.
  • Premium Paying term varies according to your premium paying option.

Unit-Linked Insurance Plans

This plan gives you returns based on capital market investments. This comes with high risk but can give you high returns. Types of Unit-Linked Plans Mentioned below-

1] HDFC Life Click 2Wealth

  • Single, Regular, Limited premium payment options available.
  • Choose 11 fund options to invest your money as premium.
  • This have 3 plan options
    • Invest Plus – Insurance cum investment
    • Premium Waiver
    • Golden Years Benefit – Covers whole life.
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PlansAge of EntryAge of MaturityMinimum PremiumsMaximum PremiumsPremium Payment TermPolicy Term
Invest Plus 30 days-60 years18 years-75 years12,000-24,000No limit10-40 years10-40 years
Premium Waiver 30 days-60 years 18 years-75 years 12,000-24,000 No limit 10-40 years10-40 years
Golden Years Benefit 30 days-60 years 99 years 12,000-24,000 No limit Age at entry99 minus age of entry

2] HDFC Life Click 2Invest

  • You get both Maturity Benefit and Death Benefit
  • Also you have partial withdrawal option.
  • This offers market linked returns on your policy
  • Along with financial protection you will also get investment options.
  • Minium Entry age – 30days, Maximum 65 years
  • Minimum Maturity Age – 18 years, Maximum 75 years
  • Policy Term varies from 5-20 years
  • Sum insured varies according to your premium payment.

Plans like Retirement plans, Child plans, Group insurance plans, combo plans are also available

How to Claim your Life Insurance Policy?

  1. Write a letter to insurance provider about asking for claim.
  2. Once the provider receive your letter, they will asked certain documents.
  3. Collect all the documents and submit to your nearest HDFC Life branch.
  4. They will verify your documents and check your eligibility.
  5. If your documents verified and approved your request will process.
  6. If your request rejected provider will state the reasons of rejections.
  7. Payment will be made to nominee as soon as possible.

Documents Required

  • Required Policy documents
  • Death Certificate issued by the GOI.
  • Death Claim Form
  • NEFT(National Electronic Fund Transfer) account details
  • Post mortem report(in some cases if asked)
  • For Maturity Claims- Annuity claim documents
  • ID Proof , Address Proof
  • Bank Statements, Passbook copy
  • Income Proof , PAN card

Contact Details

Call – 1860 267 9999

Whatsapp – +91 8291890569

Official Website – HDFC Life

FAQs

1] What is the free look period?

You get 15 days free look period means during this period you can cancel or return your policy.

2] Can I discontinue my HDFC Life insurance policy?

Yes, you can discontinue your policy anytime you want, but only the proportion of your investment will return and your insurance provider will decide this according to terms and conditions.

3] What Happen If I forget to pay my premium?

Your policy will lapse if you forget to pay your premiums, but you can renew within 2 years from the date of lapse of the policy.

4] Is there is any fixed premium amount?

No, the Premium amount depends on the policy or plan you choose and it varies from plan to plan.

5] Is there any policy to cover your health and illness or life-taking disease?

Yes, HDFC provides various health insurance policies as well to know more about this visit “HDFC Health Insurance“.

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