Overview
HDFC Life Insurance offers HDFC Term insurance plans designed to provide comprehensive protection to policyholders and their families in case of the unfortunate death of the policyholder. These plans offer financial security and peace of mind by providing a lump sum payout to the nominee in case of the policyholder's death during the policy term. HDFC Life Insurance offers a wide range of term insurance plans that cater to the diverse needs of individuals.
Table of ContentBenefits of HDFC Term Insurance Plans
Large Cover at Affordable Premium: If purchased early, the HDFC life term plan offers substantial life coverage at a comparatively low premium cost.
- Comprehensive Coverage: HDFC term plans offer comprehensive life coverage to the policyholders at an affordable premium amount. It pays the lump sum amount to the nominee in case of the sudden death of the policyholder, and they can choose the sum assured amount based on their needs and requirements.
- Flexibility: HDFC Term Plans offer flexibility in policy duration and premium payment options. Policyholders can choose the policy term and premium payment frequency at their convenience.
- Tax Benefits: Policyholders can avail of tax benefits under Section 80C of the Income Tax Act, 1961, for the premium paid towards their HDFC Term Plans. Additionally, the death benefit received by the nominee is tax-free under Section 10(10D) of the Income Tax Act, 1961.
- Riders: HDFC Term Plans offer additional riders, such as critical illness, accidental death, and disability riders, for enhanced coverage. Policyholders can customize their HDFC Term policies by adding these riders to enhance the coverage benefits of the base plan.
- Healthy Lifestyle Benefit: HDFC term plan recognizes and appreciates those policyholders who have a healthy lifestyle by offering some discount on the premium amount.
- MWPA Enrollment Benefit: Policyholders can enroll their HDFC term plan under the MWPA Act to ensure their death benefits are legally protected only by their loved ones.
Why Choose HDFC Term Plans?
HDFC Term Plans have various features that make them an attractive choice for individuals who want to secure the financial future of their loved ones and a popular choice among customers for several reasons:
- Trustworthy Brand: HDFC is a trusted brand in the financial services industry. The company has a strong track record of delivering high-quality products and services to its customers.
- Easy Claim Process: HDFC Term Plans has a hassle-free and easy claim process. Policyholders can file their claims online through the official website of HDFC Life Insurance.
- Economical Plans: HDFC term policy is one of the cheapest term insurance plans available in the market. Term insurance plans are essential for any individual's insurance portfolio because of their affordable costs.
- Convenience: HDFC life term insurance plans are available online and offline, making them accessible to customers from different demographics.
- Add-On Benefits: Customers can boost the HDFC life term plan coverage with the riders and add-ons available, paying some additional premiums.
- Adjustable Cover: Policyholders can increase or decrease the sum assured of the HDFC term insurance plan purchased depending on their changing financial circumstances.
List of HDFC Life Term Insurance Plan
HDFC Life Insurance offers various term insurance plans, each with unique features and benefits. We have made a list of all HDFC term insurance plans with the eligibility criteria and benefits offered:
HDFC Term Insurance Plan
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HDFC Life Click 2 Protect Life |
Key Benefits
- Death Benefit
- Terminal Illness Benefit
- Life Stage Benefit
Eligibility Criteria
Entry Age: 18 years to 65 Years
Sum Assured: 50K to No Limit
|
HDFC Life Saral Jeevan Bima |
Key Benefits
- Death Benefit
- Various Premium Payment Options
- Flexible-Premium Payment Term
Eligibility Criteria
Entry Age: 18 years to 60 Years
Sum Assured: 50K to 5 Lakhs
|
HDFC Life Click 2 Protect Super |
Key Benefits
- Accidental death benefit
- Additional cover for spouse
- Return of premium
Eligibility Criteria
Entry Age: 18 years - 84 years
Sum Assured: 5k - No limit
|
HDFC Life Sanchay Legacy |
Key Benefits
- Whole life plan
- 2 plan options
- Early ROP benefit
Eligibility Criteria
Entry Age: 40 years - 75 years
Sum Assured: 1.25 times the single premium
|
HDFC Click 2 Protect Elite |
Key Benefits
- Smart exit benefit
- Death benefit
- Maturity benefit
Eligibility Criteria
Entry Age: 18 years - 45 years
Sum Assured: 2 Crore - No Limit
|
HDFC Life Term With Return of Premium |
Key Benefits
- No medical test
- Return of total premium paid
- Death benefit
Eligibility Criteria
Entry Age: 18 years - 50 years
Sum Assured: 5 Lakhs - 25 Lakhs
|
QuickProtect by HDFC Life |
Key Benefits
- Flexible term cover
- 19 critical illnesses covered
- No medical test required
Eligibility Criteria
Entry Age: 18 years - 50 years
Sum Assured: Up to 75 Lakhs
|
HDFC Life Smart Term Pro |
Key Benefits
- Life cover
- Return of total premium
- Rider benefits
Eligibility Criteria
Entry Age: 18 years - 60 years
Sum Assured: 15 Lakhs - No Limit
HDFC Term Plans Additional Riders
HDFC Term Plans offer various types of add-on riders that can be used to enhance the basic coverage benefits of HDFC Term insurance. Below mentioned are the add-on riders offered under HDFC Term Plans:
- HDFC Life Income Benefit on Accidental Disability Rider: HDFC Accidental Disability Rider lets you secure a monthly income while protecting you against any kind of disability arising from unfortunate accidents. If you have a disability due to an accident, it may be difficult for you to perform even some of the most fundamental duties. No death benefit is included, as the rider aims to provide continuous income to your family in the event of an accident-related disability. This rider can be purchased single-life at the beginning of the policy or on the following policy anniversary.
- HDFC Life Critical Illness Plus Rider: HDFC Life Critical Illness Plus Rider is designed to provide you financial protection for you and your family. Policyholders will get a lump sum if they are diagnosed with any of the 19 critical illnesses.
- HDFC Life Protect Plus Rider: You can select any of the three rider options:
1. Personal Accident Cover: The policyholders will get the benefit in the following events: Accidental Total Permanent Disability(ATPD), Accidental Death, and Accidental Partial Permanent Disability(APPD).
2. Accidental Death Cover: The nominee of the policyholders will get 100% of the sum assured amount if the policyholder dies in an accident during the rider term in accident death benefit rider.
3. Cancer Cover: Policyholders will get a lump sum amount in case they are diagnosed with Carcinoma-in-situ or malignant cancer, early-stage cancer, or major cancer.
HDFC Term Insurance Plans Buying Process
You can buy HDFC Term Plans via two platforms, i.e., the official website of HDFC Life Insurance or RenewBuy.com. Below we have explained both buying processes in detail:
Buy from the official website of the insurance company
- Visit the official “HDFC Life Insurance” website and click on the “Term Insurance” tab.
- Scroll down and select your desired plan.
- Click on the “Buy Now” button.
- Fill in all the required information, such as name, mobile number, annual income, occupation, etc.
- Click on the “Calculate” button to calculate the premium amount.
- Make payment.
- The insurance company will send the policy documents to your email address.
Buy from “RenewBuy.com”
- Visit the official site of "RenewBuy."
- Go to the “Life Insurance” section from the header menu.
- Then, go to the “Life Insurance Companies” section.
- Click on “HDFC Life Insurance”
- Select “HDFC Term Plans”
- Fill out the form that shows on the next page.
- Click on the “Buy Now” button.
- A pop-up will show you the plan details and the additional rider information.
- Click on the “Proceed to Buy” button.
- Make the online payment, and the policy documents will be sent to your registered email address.
HDFC Term Insurance Claim Process
HDFC Term Insurance has an easy and hassle-free claim settlement process. To file a claim, you need to follow the below-mentioned steps:
- Intimate the “HDFC Life Insurance” company by emailing them at claims@hdfclife.com or by calling them on their toll-free number (1860 267 9999).
- You need to provide the following details Name of the policyholder, the date of death of the policyholder, the cause of death, the policy number, the Nominee's name, and contact details.
- Submit the following documents: Death Claim Form, Original Policy Documents, FIR & Panchanama, Death Certificate, Post Mortem Report, Account Details of the Nominee, and Resident Proof.
- HDFC Life Insurance will verify the details and documents per the norms.
- Once the verification is completed, your claim will be settled, and the claim amount will be transferred to your bank account.