HDFC Life Insurance
HDFC Life Insurance company is a private company in the life insurance market of India that provides various comprehensive life insurance plans to its customers.
The company is one of the most popular insurance companies in India which is a joint venture between HDFC Ltd. and abrdn plc. and was founded in 2000. The company is headquartered in Mumbai and has around 373 branches across the country. The company offers various insurance plans, such as term insurance, retirement plans, endowment plan, savings plan, and other plans for women and child. Here are more details about HDFC Life Insurance plans.
Benefits of HDFC Life Insurance
The following are some of the benefits of HDFC Life Insurance plans:
- Investing in such plans help build corpus for long-term that will help beat inflation, fund for child’s education, marriage, and fulfil other life goals.
- Ensures financial protection not only for policyholder but also for the family, by providing death benefit that helps in paying rent, supports education, medical emergencies or other financial obligation in case of death of policyholder.
- Offers life insurance plans at an affordable premium rate over other insurance plans available in the market, thereby making it one of the most preferred options.
- It comes with multiple options, such as term insurance, retirement plans, savings, ULIP, child plans, and many more.
- HDFC life Insurance company has a claim settlement ration of 99.39% in 2022-2023 that makes it one of the reliable insurers in the insurance market of the country.
- Enables users to purchase insurance plans conveniently through online mode, thereby saving time and effort.
- Offers efficient customer service to support their customers regarding any issue related to purchase of insurance plans, claim settlement, and others.
Different Kinds of Life Insurance Policies Offered by HDFC Life
HDFC Standard Life has developed a strong reputation for providing a vast array of insurance policies in all segments, be it protection plans, retirement solutions, children's plans, savings and investment instruments, women's plans, etc. Following is a list of the various plans offered by HDFC Life:
Name of the insurance plan | Minimum and maximum entry age | Age of maturity | Minimum and maximum sum assured | Policy tenure | Mode of payment of premium |
18 years – 65 years | 75 years | Rs.25 lakh to no upper limit | 10 years – 40 years | Monthly, quarterly, half-yearly, and annually | |
30 years – 60 years | 75 years | As per the terms mentioned in the policy | 15 years – 25 years | Monthly, half-yearly, and annually | |
30 years – 45 years | 70 years | Rs.1 lakh to no upper limit | 15 years – 25 years | Monthly, quarterly, half-yearly, and annually | |
18 years – 65 years | 75 years | Rs.2 lakh to no upper limit | 10 years – 40 years | Monthly, quarterly, half-yearly, and annually |
HDFC Term Insurance Plans
The Term Insurance Plans offered by HDFC Life provide a life cover in addition to financial security to the dependents of the insured.
Term Insurance Plan | Maturity age | Entry age | Sum Assured | Tenure of Policy | Mode of premium payment |
HDFC Life Click 2 Protect Super | 85 years | 18 to 65 years | Rs.50 lakh to Rs.20 crore | Five to 85 years | Monthly, quarterly, semi-annual, and annually |
HDFC Life Click 2 Protect Life | Whole life | 18 to 65 years | Rs.20 lakh to no limit | 10 to (whole life to entry age) years | Monthly, quarterly, semi-annual, and annually |
QuickProtect by HDFC Life | 75 years | 18 to 50 years | Rs.75 lakh, Rs.1 crore, and Rs.1.25 crore | Five to 40 years | Nil |
HDFC Life Click 2 Protect Elite | 75 years | 30 to 45 years | Rs.2 crore to Rs.5 crore | 15 or 20 years | Quarterly, half-yearly, and annually |
HDFC Life Sanchay Legacy | 99 or 100 years | 45 to 65 years | Nil | 99 to entry age | Monthly, quarterly, semi-annual, and annually |
HDFC Life Saral Jeevan Bima | 70 years | 18 to 65 years | Rs.5 lakh to no limit | Five to 40 years | Monthly, half-yearly, and annually |
HDFC Life Smart Term Pro | 80 years | 18 to 60 years | Rs.15 lakh to no limit | 15 to 40 years | Monthly, half-yearly, and annually |
HDFC Life Term with Return of Premium | 65 years | 18 to 50 years | Rs.5 lakh to Rs.25 lakh | 10 to 30 years | Annual |
Here are the details regarding the HDFC Term insurance plan:
- HDFC Life Click 2 Protect Super:
o Premium paid on survival with return of premium if survived till maturity
o In case of accidental death during policy term, additional amount is payable
o On diagnosis of specified terminal illnesses, till age 80 years, the plan offers acceleration of death benefit
o Under Life option, death benefit can be increased up to 200%
o Under Life Goal option, beneficiaries can vary death benefit as per their requirement
o On diagnosis of Critical Illness (through WOP CI option) and Total and Permanent Disability (through WOP Disability option), the plan offers premium waiver facility
o Provide the option to choose additional cover for spouse
- HDFC Life Click 2 Protect Life:
o Beneficiaries can avail themselves of whole life coverage
o Under Income Plus Option, offer income payout option up to 60 years of age
o Provides additional Sum Assured on Accidental Death
o On survival till maturity, the plan offers returns all premium paid
o For female lives and non-tobacco users, the plan offers special premium rates
o On diagnosis of Critical Illness (through WOP CI option), premium waiver can be availed
- QuickProtect by HDFC Life:
o Four coverage benefits along with comprehensive protection
o Offers three different sum assured package
o Subject to underwriting, there is no medical proof requirement
o As per prevailing tax laws, the plan offers tax benefits
o Hassle-free and speedy procedure
- HDFC Life Click 2 Protect Elite:
o Offers financial protection to the family
o With Smart Exit Benefit, the plan offers return of all premiums paid
o Offer long-term coverage by paying for limited time
- HDFC Life Sanchay Legacy:
o Whole life plan providing financial security to the family
o At the age of 85 years offer early RoP benefit or in installment
o On 60 CIs covered through WOP on CI option, offer waiver of premium
o On diagnosis of 19 Critical Illnesses covered, ensures acceleration of 100% Death benefit
o On occurrence of Total and Permanent Disability through WOP on TPD option, provides premium waiver
o Protection can be enhanced through rider plans
o After five years, plans offer the option to decrease the premium
o Death benefit can be received in installment
o As per the requirement of the beneficiaries, two plan options can be availed
- HDFC Life Saral Jeevan Bima:
o Offers additional benefits through rider plans
o Three premium payment option, such as single, limited, and regular premium
- HDFC Life Smart Term Pro:
o Enhances the protection through rider plans
o Premium can be paid for five, eight, ten, or 12 years only
o Ensure life insurance coverage for full policy term
o On maturity, all premium paid will be returned
o Offer two options for family payout, such as five or ten years
- HDFC Life Term with Return of Premium:
o Ensures flexible premium payment option
o Beneficiaries can avail themselves of life insurance cover without medical tests
o On completion of policy term, total premium paid will be returned
Savings and Investment Plans
The HDFC Life savings and investment plans are designed in a manner such that customers have multiple avenues to save money so that it can grow over a period of time. These plans help customers in following a systematic investment discipline to ensure that they have adequate funds to meet their long-term objectives. Following are the savings and investment plans that you can purchase from HDFC Life:
purchase from HDFC Life:
1. HDFC Life Click 2 Achieve:
o The plan offers the flexibility in choosing benefits
o Offers guaranteed benefits
o The rate of return increases 10% per annum
2. HDFC Life Sanchay Par Advantage:
o Of the total premiums paid, the plan offers minimum death benefit of 105%
o Up to 100 years of age, the plan offers assured life coverage
o The plan offers options of deferred income or immediate income to select from
o With Annual Premium of Rs.1 lakh and above, the plan offers enhanced benefits
o Depending on your financial goals, you can select your payout date
3. HDFC Life Sanchay Plus:
o For policies with Annual or Single Premium greater than Rs.1.50 lakh, the plan offers enhanced benefits
o During the policy period, if the insured dies, then the nominee can receive the death benefit as regular income or lump sum as per payout schedule
o With Lifelong Income option of the plan, the insured can avail themselves of guaranteed income for up to 99 years
o Insured can choose between lump sum or as regular income for 10/12/ 25/30 years or up to 99 years, depending on the requirements
o Insured can receive guaranteed returns as lump sum or as regular income depending on financial needs
4. HDFC Life Sanchay Fixed Maturity Plan:
o Life insured can select from a range of Policy Terms up to 40 years
o The plan offers guaranteed savings and assured returns
o The plan also offers options to choose cover on Joint or Single Life
o Offers premium payment option of single premium, limited pay, or regular pay
o On payment of additional premium, the plan also offers optional rider fir enhanced benefits
5. HDFC Life Guaranteed Income Insurance Plan:
o The plan offers guaranteed death benefit even during income payout period
o As per prevailing tax laws, the plan offers tax benefits with long term guaranteed benefits
o As per prevailing tax laws, the plan ensures tax saving along with guaranteed lump sum in maturity
6. HDFC Life Saral Jeevan:
o The plan offers guaranteed returns
o During the full policy term, the plan offers life insurance coverage
o The plan enables the insured to choose between lump sum or regular income for receiving the maturity benefit
7. HDFC Life Smart Income Plan:
o The plan offers guaranteed income benefit
o The plan provides the option of either enhanced income or maturity
o Insured can avail themselves of benefit of bonuses (if declared)
o Income can be received for 12, 16, 20, or 24 years, by paying premium for limited term six, eight, ten, or 12 years only
o Offers life insurance coverage for ensuring financial security of the family
8. HDFC Life Assured Gain Plus:
o On maturity, the plan offers guaranteed sum assured
o Provides benefits of bonuses if declared
o By paying for five years, the plan offers life insurance coverage for full policy term
9. HDFC Life Guaranteed Wealth Plus:
o At maturity, the plan offers guaranteed Income for during the payout term along with 100% ROP
o The insured can avail themselves of life insurance cover for full policy term, by paying once or for a limited term
o Individual can avail themselves of guaranteed benefits as either regular income, lump sum, or both
10. HDFC Life Sampoorna Jeevan:
o The plan offers return payout in form of lump sum, regular income, or both
o The plan provides life coverage for the entire policy term
o The plan has limited premium payout options
o The plan has five bonus options
11. HDFC Life Income Advantage Plan:
o The plan ensures flexible income payout option
o The plan offers guaranteed income
o Income can be received from the second half of the policy term by paying during the first half
o The plan also offers life insurance coverage for the entire policy term
12. HDFC Life Uday:
o On accidental death, the plan offers additional death benefit
o At the end of each financial year, the plan will offer bonuses if declared
o By paying either Rs.500 per month or Rs.5000 per year, the insured can avail themselves of insurance coverage
o Coverage for 12 or 15 years can be availed by paying premium for eight or ten years only
o During the first five policy years, the plan offers guaranteed1 addition of 3.00% on sum assured per annum
13. HDFC Life Pragati:
o The plan offers coverage for five to 20 years by paying a lump sum one time premium
o Premiums starting from Rs.100 per month
o The plan offers flexibility to choose your preferred duration of a policy term and premium payment term
o Full death benefit for two years from the date of last unpaid premiums, in case individual has missed premium payment for a year or two
14. HDFC Life New Creating Life Insurance Plans:
o The plan offers limited payment and premium waiver option
o Family income payout along with death benefit is offered under this plan
o Secure child’s future financially even in the absence of the insured
o Financial security during the formative years of your child’s life is offered by this plan
15. HDFC Life Secured Income Insurance RP:
o Provides long term savings
o Enables individual to build corpus
o The plan offers limited payment options
o Along with Family Payout option, the plan offers death benefit
16. HDFC Life My Assured Income Plan:
o The plan offers limited premium payment term
o On completion of policy term, the plan offers Guaranteed1 Terminal Benefit
o To receive Guaranteed1 Income payouts, the plan offers three variants to select from
o The plan offers rider option for enhanced protection
17. HDFC Life Saral Bachat:
o The plan offers guaranteed return
o During the full policy term, the plan offers life insurance coverage
o The plan enables individual to choose between lump sum or as regular income for maturity benefit
18. HDFC Life Secured Income Insurance Plus:
o The plan offers limited pay options
o The individual can avail themselves of Family Income Payout option along with death benefit
o The plan helps in building corpus
o Enables individual for building long term savings
19. HDFC Life New Fulfilling Life:
o The plan ensures safe returns on maturity
o Indvidual can avail themselves of systematic savings method
o On death of the insured, the plan offers emergency financial protection
o Individual can also avail themselves of accumulation of inheritance for next generation
o Offers small sum amount to fulfil short term financial goals
20. HDFC Life Star Saver:
o As per prevailing tax laws, the plan offers tax benefits
o The plan offers guaranteed maturity benefits
o In case of accidental death of insured, the plan provides accidental death benefit
o The plan also provides death benefit over full Policy Term, on paying premium only for five years
21. HDFC Life Sampoorn Samridhi Plus - Whole Life: This is an endowment plan that provides the policyholder a choice of 2 options: endowment and endowment with whole life cover up to the age of 100 years. The plan comes with a maturity benefit and accidental death benefit
22. HDFC Life ClassicAssure Plus Plan: This plan provides the insured with a life cover along with investment opportunities to enable growth of savings. The policy comes with a limited premium payment term of 7 years and 10 years. Policyholders also receive a guaranteed reversionary bonus during the premium payment term.
23. HDFC Life Super Income Plan: This is a non-linked, participating, limited pay, money back plan that provides guaranteed benefits in addition to investment options. The plan provides the insured with assured income for a period of 8 to 15 years. 8% to 12.5% of the sum assured is provided as a maturity benefit.
Name of the insurance plan | Minimum and maximum entry age | Age of maturity | Minimum and maximum sum assured | Policy tenure | Mode of payment of premium |
30 years – 45 years | 18 years - 70 years | Contact the bank for details | 15 years – 25 years | Monthly, quarterly, half-yearly, and annually | |
30 days –59 years | 18 years - 75 years | Contact the bank for details | 16 years – 27 years | Monthly, half-yearly, and annually | |
30 days – 65 years | 65 years - 75 years | Contact the bank for details | 10 years – 20 years | Monthly, quarterly, half-yearly, and annually | |
30 days – 60 years | 18 years – 75 years | Contact the bank for details | 15 years – 30 years | Monthly, quarterly, half-yearly, and annually | |
30 days – 60 years | 18 years – 75 years |
| 12 years – 15 years | Monthly, quarterly, half-yearly, and annually | |
18 years – 55 years | 30 years – 70 years | Contact the bank for details | 12 years – 15 years | Monthly, quarterly, half-yearly, and annually |
HDFC Life Child Plans
Given the unpredictability of life, it is essential to ensure that your children are financially secure at all times. HDFC child plans ensure that you start saving for the future expenses of your child at a very early stage so that you will have access to enough money to meet various expenses related to marriage, higher education, etc. Following are the two child plans you can purchase from HDFC Life:
1. HDFC Life YoungStar Udaan:
o Offers coverage throughout the policy term by paying premium for limited period
o On maturity, the plan offers additional bonuses and lump sum payout of up to 140% of sum assured
o Offers three payout options
o Nominee will receive lump sum on death of the policyholder under Classic Waiver Death Options and future premiums are waived off
2. HDFC Life YoungStar Super Premium:
o Provides options between Save and Save-n-Gain benefit options
o Provides financial security against demise of policyholder and diagnosis of critical illness
o After 5 years of your policy, fund can be withdrawn
o Investment can be done in any or combination funds
3. HDFC Life Wealth Maxima:
o Comes with three investment strategies
o Ensures systematic investment option to benefit the
o Offers comprehensive life coverage
o Comes with three plan options
Name of the insurance plan | Minimum and maximum entry age | Age of maturity | Minimum and maximum sum assured | Policy tenure | Mode of payment of premium |
18 years – 65 years | No lower limit - 75 years | 7 times annual premium – 40 times annual premium | 10 years- 20 years | NA | |
30 days – 65 years | 18 years - 75 years | 100% of the sum assured + 25% of the sum assured | 15 years – 25 years | Monthly, quarterly, half-yearly, and annually | |
HDFC Life Wealth Maxima | Minimum Entry age- Maxima Invest: 0 Years Maxima Family Maxima Child*: 18 Years Maximum Entry age: Maxima Invest: 65 Years Maxima Family : 55 Years & Maxima Child : 50 Years |
| For age till 44 the annualised premium x 10 For age above 44 for the annualised Premium x (7 or 10) | 10, 15 to 20 Years | Annual, Half-Yearly, monthly |
HDFC Life Retirement Plans
The HDFC Life retirement solutions offer financial security to ensure that you will have a regular income even when your professional income no longer flows into your account. These plans help you live a comfortable life whilst dealing with rising inflation and the increased cost of living. Following are the retirement plans you can purchase from HDFC Life Pension Plans.
1. HDFC Life Personal Pension Plus:
o Investment horizon ranges between 10 to 40 years
o Premiums can be paid either annually, half yearly, quarterly or monthly
o On death or on policy maturity, assured benefit of 101% of the total premiums paid can be availed
o Based on your retirement plans and needs, choose your vesting age
o By way of reversionary bonuses (if declared) and any terminal bonus, participate in the fund profits of the participating fund of the company
2. HDFC Life Guaranteed Pension Plan:
o Premium payment term can be chosen either between Single or Limited Pay
o Guaranteed1 death benefit equal to total premiums paid till date will be offered at 6.00% per annum
o For each completed policy year, guaranteed addition of 3.00% of sum assured will be offered
3. HDFC Life Systematic Pension Plan
o As per the prevailing tax laws, offers tax benefits
o Offers flexibility to choose investment horizon ranging between five to 40 years
o Premium can be paid as lump sum or over a period of time
o With an Assurance of 4% Returns on Vesting, bonus offered by the company can be received
4. HDFC Life Assured Pension Plan
o With assured benefits, the plan secures post-retirement phase financially
o Starting from 11th year, provides additional benefit of loyalty additions every alternate year
o From 45 years of age and onwards, individual will start receiving income
o Either a single pay or premium paying term of 8, 10 or 15 years can be selected
5. HDFC Life Click 2 Retire
o As per the prevailing tax laws, offers tax benefits
o Can be started as early as 18 years
o Offers assured vesting benefits
o Retirement plan can be started by low amount contribution Rs.2000 per month
o The plan comes with no policy administration charges, no premium allocation charges, and no exit charges
6. HDFC Life Smart Pension Plan
o Helps building retirement corpus
o Offers life insurance coverage up to 105% of total premium paid that also includes top-up premium
o Vesting date and premium payment term can be altered
o Offers loyalty addition
o Safeguard wealth against market volatilities through Automatic Asset Re-balancing and Systematic Transfer strategies
- Annuity Plan: This is a type of financial product, a typical retirement plan that provides income source to an individual over a specified period. These plans provide guaranteed periodic payments and enable individuals to choose from a range of annuity plans based on your requirements. The following are the annuity plans:
7. HDFC Life New Immediate Annuity Plan:
§ Upon death or critical illness, Purchase Price will be returned
§ At purchase price of Rs.2.50 lakh or more, benefit of higher annuity rates can be availed
§ Annuity payout frequency available are monthly, quarterly, half-yearly, or yearly
§ During retirement, guaranteed income can be received at desired annuity payout frequency
o HDFC Life Systematic Retirement Plan
§ For a limited premium paying term, premiums can be paid systematically
§ Offers guaranteed income for whole of life
§ By choosing the deferment period, provides option to defer annuity payouts
§ Annuity payout options available are monthly, quarterly, half-yearly, annually
§ On death of policyholder, return of total premium can be opted
o HDFC Life Smart Pension Plus
§ Policyholders can choose from four annuity options
§ By choosing the deferment period, defer annuity payouts can be opted
§ Both Immediate Annuity and Deferred Annuity, offered by single plan
§ The plan offers both single and joint life insurance
§ by paying premiums for a Single or Limited payment term, guaranteed annuity income will be offered for whole life
§ Annuity amount can be received flexible payout options, such as Monthly, Quarterly, Half-yearly or Yearly
o HDFC Life Pension Guaranteed Plan
§ Under this plan loan facility can be availed
§ Single or joint life insurance can be opted under this plan
§ The purchase price and annuity amount can be chosen by the policyholder
§ Through Top up option, annuity payout can be increased anytime
§ Based on your financial needs, you can select annuity payout option such as monthly, quarterly, half-yearly or yearly
o HDFC Life Saral Pension
§ The plan required medical examination
§ Annuity can be received as long as the policyholder survives
§ On death, return of purchase price option can be also opted
§ for large purchase price, benefit of higher annuity rates can be availed
Name of the insurance plan | Minimum and maximum entry age | Age of maturity | Minimum and maximum sum assured | Policy tenure | Mode of payment of premium |
HDFC Life Personal Pension Plus | 18 years – 65 years | 55 years - 75 years | NA | 10 years – 40 years | Monthly, quarterly half-yearly, and annually |
18 years – 65 years | 45 years – 75 years | NA | 10 years – 35 years | Single pay, monthly, quarterly, half-yearly, and annually | |
HDFC Life Systematic Pension Plan | 18 to 75 years | 40 to 80 years | Single pay: Rs.50,000 to no limitRegular or limited pay: Rs.1.50 lakh to no limit | Five to 40 years | Monthly, quarterly, half-yearly, and annually |
HDFC Life Assured Pension Plan | 18 to 65 years | 45 to 75 years | NA | NA | Monthly, quarterly, half-yearly, and annually |
HDFC Life Smart Pension Plan | 18 to 70 years | NA | NA | NA | Monthly, half-yearly, and annually |
HDFC Life Guaranteed Pension Plan | NA | NA | NA | NA | Monthly, quarterly, half-yearly, and annually |
30 years –85 years | NA | NA | NA | Monthly,quarterly, half-yearly, and annually | |
30 years – 85 years | NA | NA | NA | Monthly, quarterly, half-yearly, and annually | |
HDFC Life Pension Super Plus | 35 years – 65 years | 55 years - 75 years | NA | 10 years – 20 years | Monthly, quarterly, half-yearly, and annually |
HDFC Life Saral Pension | 40 to 80 years | NA | NA | NA | Monthly, quarterly, half-yearly, and annually |
HDFC Life Pension Guaranteed Plan | 30 to 85 years | NA | NA | NA | Monthly, quarterly, half-yearly, and annually |
HDFC Life Smart Pension Plan | 18 to 99 or 100 years | NA | NA | Whole Life | Yearly, Half -Yearly, Quarterly and Monthly |
HDFC Life Systematic Retirement Plan | 45 to 75 years | NA | NA | Whole life | Monthly, quarterly, half-yearly, and annually |
ULIP Plans by HDFC Life
Unit Linked Insurance Plan (ULIP) is a type of insurance plan that offers insurance coverage along with various investment options. This plan enables investors to choose from various investment options, such as debt, equity, money market funds, etc., depending upon the risk appetite of the investor. The following are some of the investment plans under HDFS Life ULIP Plans:
1. HDFC Life Smart Protect Plan:
o Under Level Cover with Capital Guarantee and Decreasing Cover, get minimum Assured Benefit on Maturity with Capital Guarantee plan options
o From policy year 10 to 13 years, 2X Premium Allocation Charge will be returned
o From 11th policy year, 2X to 3X Mortality Charge will be returned
o On Maturity, Fund Management Charge (FMC) will be returned
o On Maturity, 2X of Investment Guarantee Charge will be returned
o Under Decreasing Cover and Decreasing Cover with Capital Guarantee plan options, after a chosen period the individual will get an option to reduce your death benefit
2. HDFC Life Sampoorn Nivesh:
o The plan offers the option to make partial withdrawal from funds in case of financial emergencies
o After 10 years, it offers loyalty additions to enhance your fund value
o Enables the individual to allocate the premium in their preferred investment funds
o Additional sum assured will be paid to the nominee in case of an accidental death of the insurer
3. HDFC Life ProGrowth Plus:
o The plan offers the option to make partial withdrawal from funds in case of financial emergencies
o Based on your risk appetite and investment style, you can choose from 10investment fund options
o To get you market linked returns, you can allocate your premium to your preferred investment funds
o Additional sum assured to the nominee, in case of an accidental death of the insured
o Under sections 80C and 10(10D) of the Income Tax Act 1961, insured can avail themselves of tax benefits subject to provisions contained therein
4. HDFC Life Click 2 Wealth:
o systematic withdrawal from your funds can be opted for post-retirement income
o To enhance your investment, individuals can select from 11 funds and unlimited free switching option
o Premium allocation of 1.00% as special addition will be offered to your fund for first five years
o In case of death of the proposer, all your future premiums will be waived off and fund will remain invested under premium waiver option
o Charges involved are Mortality charge towards your life cover and Fund Management charge towards managing your funds
5. HDFC Life Click2Invest ULIP:
o The plan offers the option to make partial withdrawal from funds in case of financial emergencies
o Offers 11 fund options to match your investment requirements
o Under Section 80C and Section 10(10D), insured can avail themselves of tax benefits
o Based on your needs, you can receive fund value at maturity or in installments
o Premiums can be paid regularly or for limited period of five, six, seven, eight, nine, and ten years or in lump sum under single pay option
6. HDFC SL ProGrowth Super II:
o The plan offers the option to make partial withdrawal from funds in case of financial emergencies
o The individual can avail themselves of the flexibility of choosing from eight fund options
o In case of an accidental death of insured, nominee shall receive an additional sum assured
o Funds can be switched or redirected to new funds
o If diagnosed with a Critical Illness, you will receive the total of your Sum Assured and Unit Fund Value
o Insured will receive 10% of the Sum Assured every year, in case of an Accidental Total & Permanent Disability
7. HDFC SL Crest:
o Up to 20 times of annual premium can be chosen as sun assured
o Individuals can choose from 10 fund options
o Market linked returns and life protection can be received for a period of 10 years by paying premiums for only five years
o The nominee will receive greater of Sum Assured or fund value, in case of your unfortunate death during the policy term
8. HDFC SL ProGrowth Flexi:
o In case of financial emergencies, the plan offers the option of partial withdrawal of fund
o In case of accidental death, sum assured will be paid
o Insured can select from ten fund options
o Sum assured up to 40 times of annual premium can be chosen
9. HDFC Life Smart Woman Plan:
o Partial withdrawal of fund can be made in case of financial emergencies
o up to 40 times your annualized premium as sum assured
o Insured can choose for four fund options
o Complications related to motherhood, the loss of your spouse, or fighting cancer, you will receive the return
o In case of situations like birth of child with congenital disorder, pregnancy related complications, malignancy in female organs, or death of spouse, premiums will be waived off under this plan
10. HDFC Life Classic One:
o The plan offers the individual to receive fund in instalments or at maturity
o Up to ten times of your single premium will be paid as coverage
o Between 11 funds options under this plan, you can avail yourself of unlimited free switching options of your fund
o On completion of 10 policy years, you can avail yourself of loyalty additions to the fund value
o The plan offers the option of Single and Joint Life coverage and the relationship between policyholders can be the parent, spouse, child, grandparent, or co-borrower
11. HDFC Life Capital Shield:
o Partial withdrawal of fund can be made in case of financial emergencies
o Based on your investment goal, you can select between debt or equity funds
o From the end of sixth year, you will receive loyalty additions
o The plan offers assured mature benefits
o Premium can be paid once or for a limited period up to five years and can remain insured after that
12. HDFC Life Wealth Builder:
o Along with unlimited free switches, individuals can also avail themselves of eight unit linked funds
o In case of 10 year policy term, mortality charges up to 50% will be returned on maturity
o By paying one premium you can choose maturity duration either five or ten years
o For full policy term, life insurance coverage will be offered
13. HDFC Life Wealth Elite:
o The plan offers comprehensive death benefit
o Offers eight fund options
o Suitable for those looking for wealth creation along with financial protection for family
14. HDFC Life Wealth Maxima:
o To avail benefit from equity markets, the plan offers Systematic investment option
o The plan also offers comprehensive life coverage
o To fit your risk appetite, the plan offers three investment strategies
o The plan also ensures your needs in different stages of life by providing three plan options
How to File a Claim with HDFC Life Insurance
Following is the procedure to claim insurance with HDFC Life:
- Step 1: Click on the link https://lifeeasy.hdfclife.com/ and click on ‘Request Claim’. Fill in the form and submit.
- Step 2: You can use the WhatsApp service to initiate a claim. Click on the link https://www.hdfclife.com/customer-service/claims wherein you will find the QR code. Scan it to initiate the claim request. You can also send a WhatsApp message by typing ‘Death claim’ to +91 8291890569.
- Step 3: You can also visit the HDfC Life branch to request a claim.
Documents Required to Purchase an HDFC Life Insurance Policy
The below mentioned documents are required to buy an HDFC policy:
- Identity proof: Aadhaar card, PAN card, voter ID, driving licence, etc.
- Income proof: Form 16, passbook, Income Tax Return papers (last three years), etc.Address proof: Electricity bill, water bill, Aadhaar card, etc.
Documents Required to Claim Insurance with HDFC Life Insurance
Following are the documents required when making claims with HDFC Life:
- Claim form
- Photograph of the nominee
- Copy of PAN Card
- Proof of identity of the nominee
- Proof of address of the nominee
- If the nominee is a minor, then the appointee’s documents must be submitted.
- Death certificate
- Medical certificate stating the cause of death.
- Bank account details for NEFT
In case of Accidental Death:
- All the documents mentioned above
- Additional documents as required such as post-mortem report, police inquest report, Panchnama, first and final report, Viscera, or chemical analysis report.
HDFC Life Claim Settlement Ratio
Year | Claim Settlement Ratio |
2023-2024 | 99.50% |
2022-23 | 99.39% |
2021-2022 | 99.66% |
2020-2021 | 98% |
2019-2020 | 99.10% |
2017-18 | 97.80% |
2016-17 | 97.62% |
2015-16 | 95.02% |
2014-15 | 90.50% |
Documents Required to Buy an HDFC Standard Life Insurance Policy
Following are the documents you will require to purchase a life insurance policy from HDFC Life:
- Identity proof
- Address proof
- Income proof
- PAN Card
- Self-attested bank passbook copy
How to Check HDFC Standard Life Insurance Policy Status Online
Given below are the steps you will have to follow to check your HDFC Standard Life Insurance Policy status online:
- Step 1: Click on the link https://lifeeasy.hdfclife.com/.
- Step 2: Click on ‘Track Claim’.
- Step 3: Provide details such as your Claim ID, policy number, mobile number, and date of birth.
- Step 4: Click on ‘Track’. You will be able to view the status of your Life Insurance Policy application online.
You can visit the nearest HDFC Life Insurance branch and quote your Claim ID and policy number along with other information to check the status of your policy.
HDFC Life Online Payment
If you wish to make HDFC premium payments online instead of going out to a branch of the company, you can do so by visiting the customer service section of the company's official website and select the Pay Premium Online option after which you will be redirected to a new page. Here, you will have to enter the required details, i.e., your policy number and your date of birth. Then click on the Proceed option and select your payment mode, viz. credit card/debit card/net banking, etc., and make your premium payment. Your payment will then be complete.
FAQs on HDFC Life Insurance :
- Can I avail pension benefit with my life insurance plan?
Yes, there are pension plans offered by HDFC Life where you will receive pension along with insurance cover.
- Is there any specific plan for life threatening diseases?
Yes, HDFC offers HDFC Life Cancer Care which provides financial protection for both early and major stage of cancer. The plan gives you a waiver on premium for the next 3 years on diagnosis of early cancer. An increased benefit is offered under the gold and platinum options where the sum insured increases by 10% every year.
- If I'm not satisfied with the plan can I return it?
Yes, you get a 15 day free look period from the date of receipt of the policy within which you can return the policy.
- If I miss the premium payment, will my policy lapse?
Yes, the policy will lapse if you miss making the premium payment but it can be renewed within 2 years from the date that the policy lapses. There are certain cases when you can turn the policy to a paid-up policy, check the policy document to see if you have that option.
- Can I cancel my policy after a while if I no longer want it?
Yes, customers who wish to discontinue their policy can surrender the same to the company and a proportion of their investment will be returned to them.
- What is the premium payment frequency for life insurance policies?
The premium payment frequency will depend upon the kind of policy you select. However, most policies come with the standard annual, semi-annual, quarterly, and monthly premium payment frequencies.
- Does HDFC Life provide Group insurance schemes?
Yes, you can avail yourself of Group insurance schemes from HDFC Life.
- How can I check the status of my HDFC Life Insurance?
You can visit the official website of HDFC Life Insurance where you will have to log in by providing your log in details and then you can check the status of your life insurance. You can also visit the nearest branch of HDFC Life Insurance to check the status.
- Can I use the auto-pay option to pay my HDFC Life premiums?
Yes, you can use the auto-pay options to pay your HDFC Life premiums.
- Should I link my Aadhaar with my HDFC Life Insurance policy?
Yes, you must link your Aadhaar with your HDFC Life Insurance policy which you can do by visiting the HDFC Life website.
- How can I link my Aadhar card with HDFC policy?
To link your Aadhar card with HDFC policy, you need to log into your HDFC account and select ‘Update Aadhar’ option under ‘My Policy’ tab. Submit your Aadhar number and policy number and then click on ‘Submit’ to complete the process of linking your Aadhar with HDFC policy.
News About HDFC Life Insurance
HDFC Life Announces Record Rs. 3,722 crore Bonus for 22.23 Lakh Policyholders
Private sector life insurer HDFC Life Insurance announced its highest-ever bonus of Rs. 3,722 crore on participating plans for nearly 22.23 lakh policyholders. In participating or 'par' policies, life insurance companies share profits in the form of bonuses with policyholders, reflecting a mutual partnership. Out of the total bonus amount, Rs. 2,798 crore will be disbursed to policies in the current financial year (FY25) as maturity bonuses or cash bonuses. The remaining bonus will be payable upon policy maturity, death, or surrender in the future. HDFC Life reported a 14.7% Year-on-Year (Y-o-Y) growth in net profit to Rs. 411.66 crore for the quarter ended 31 March 2024, up from Rs. 358.66 crore in the same period the previous year, driven by profit emergence in the back book. In April 2024, the private life insurer saw a 4.31% growth in New Business Premium (NBP) to Rs. 1,575.17 crore from Rs. 1,510.08 crore in the same period last year.
Disclaimer
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.