about hdfc life insurance policy

Why choose HDFC Insurance?

There are definite advantages to choosing the life insurance policies offered by HDFC Life Insurance. These benefits are as follows –

  1. You can find a range of life insurance plans offered by the company right from term insurance to health insurance and investment-oriented plans
  2. The company has various awards under its belt with the most recent ones being the Gold Award in the LACP Spotlight 2018 Awards and the Most Promising Debut in the Big League Award in the Moneycontrol Wealth Creator Awards 2018
  3. The company has a high claim settlement ratio which stands currently at 99.03%
  4. You can easily buy HDFC Life Insurance policy online with some simple clicks of the mouse

about hdfc life insurance policy

Different types of plans offered by HDFC Life Insurance

HDFC Life Insurance offers the following types of plans to its customers –

Term insurance

Term insurance plans are those which cover the risk of premature death. These plans promise the payment of a lump sum benefit if the insured dies during the policy tenure. The premiums are very low and the plans ensure that the family is financially supported in the absence of the bread-winner.

Term plans offered by HDFC Life Insurance

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1. HDFC Life Click 2 Protect Plus Plan:

This is a comprehensive term insurance plan which has multiple coverage options to choose from and that too at affordable premiums. The salient features of the plan are as follows –

    1. The plan offers four coverage options which are as follows –
      1. Life Option – coverage against death
      2. Extra Life Option – coverage against death and accidental death
      3. Income Option – Death benefit is paid in the form of monthly income for 15 years
      4. Income Plus Option – Death benefit is paid in lump sum. Thereafter, increasing monthly income is also paid for 10 years
    2. The sum assured can be increased on marriage and child birth if you choose the Life Option
    3. Coverage is available for up to 40 years

Eligibility conditions of HDFC Life Click 2 Protect Plus Plan

Entry age

18 years to 65 years

Plan duration

10 years to 40 years

Sum assured

INR 25 lakh onwards

Premium amount

Depends on age, term and sum assured

 

2. HDFC Life Click 2 Protect Health Plan

This is a combination of a term insurance plan and a health insurance plan giving you dual coverage benefits. The features of the plan are as follows –

    1. You can avail a premium discount of up to 5%
    2. There are nine coverage options under the plan
    3. Lifelong protection can be availed with whole life coverage option
    4. You can increase the sum assured every year through a unique top-up option

Eligibility conditions of HDFC Life Click 2 Protect Health Plan

Entry age

18 years to 65 years

Plan duration

5 years to whole life

Sum assured

INR 10,000 onwards

Premium amount

Depends on age, term and sum assured

Traditional savings plans

Traditional savings plans are endowment or money back insurance plans which offer you guaranteed returns along with life insurance coverage. These plans are suitable for investors who are looking to create a secured corpus over a long term period and also need insurance coverage for protection purposes. The different types of traditional savings plans offered by HDFC are as follows –

1. HDFC Life Sanchay Plus Plan

This is a non-participating endowment assurance plan where the maturity and death benefits are promised. The features include the following –

  1. There are four plan options under this plan. These are as follows:
    1. Guaranteed maturity option wherein the maturity benefit is guarantee
    2. Guaranteed income option wherein the maturity benefit is paid as incomes for 10 or 12 years
    3. Lifelong income option wherein guaranteed incomes are paid till 99 years of age
    4. Long term income option wherein guaranteed incomes are paid for 25 or 30 years
  2. The premiums paid are also returned under lifelong income option and long term income option

Eligibility conditions of HDFC Life Sanchay Plus Plan

Entry age

5 years to 60 years

Maturity age

18 years to 80 years

Sum assured

Depends on the premium and plan option selected

Premium amount

Minimum – INR 30,000/annually

Maximum – no limit

 

2. HDFC Life Sanchay Plan

This plan also offers guaranteed benefits and is offered as a non-participating plan. The plan features are as follows –

    1. Premiums are paid for a limited period only
    2. Guaranteed additions are added to the sum assured every year. The rate of these additions is 8% or 9%
    3. The maturity benefit ranges from 180% to 460% of the sum assured

Eligibility conditions of HDFC Life Sanchay Plan 

Entry age

30 days to 60 years

Plan duration

10 years to 40 years

Sum assured

INR 3442 onwards

Premium amount

Minimum – INR 1000/annually

Maximum – no limit

3. HDFC Life Sampoorn Samridhi Plus Plan

This is an endowment assurance plan which can be chosen to cover you for your whole life. The plan’s features are as follows –

    1. There are two plan options. One is the Endowment option wherein the sum assured is paid on maturity. The other is the Endowment with Whole Life option wherein one benefit is paid when the term comes to an end and the maturity benefit is paid when you attain 100 years of age
    2. The plan participates in bonus declarations and earns reversionary bonuses
    3. Guaranteed additions are also added to the sum assured
    4. There is an inbuilt accidental death benefit under the plan

Eligibility conditions of HDFC Life Sampoorn Samridhi Plus Plan

Entry age

30 days to 60 years

Plan duration

15 years to 40 years

Sum assured

INR 65,463 onwards

Premium amount

Minimum – INR 12,000/annually

Maximum – no limit

4. HDFC Life Classic Assure Plus Plan

This is a participating endowment plan which offers the following salient features –

    1. You are required to pay premiums only for a limited period
    2. You get guaranteed bonuses throughout the policy tenure
    3. The plan can be bought easily by filling up a short medical questionnaire
    4. Premium discounts are available if the sum assured is INR 10 lakhs and above

Eligibility conditions of HDFC Life Classic Assure Plus Plan

Entry age

3 years to 60 years

Plan duration

10,15 or 20 years

Sum assured

INR 49,447 onwards

Premium amount

Minimum – INR 12,000/annually

Maximum – no limit

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