• HDFC Life Group Credit Protect Insurance Plan

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    The HDFC Life Group Credit Protect Insurance Plan is a plan which has been designed keeping the requirements of corporates in mind, offering customised insurance solutions to financial institutions. This plan secures the interests of both the financial organisation and its customers, ensuring that repayment doesn’t become a burden in the event of demise of borrower.


    Eligibility Criteria for HDFC Life Group Credit Protect Insurance Plan

    Minimum entry age 18 years
    Maximum entry age

    57 years

    Minimum premium Rs 50
    Minimum group size 50 members
    Maximum age at maturity 59 years

    Key Features of HDFC Life Group Credit Protect Insurance Plan

    Some of the key features of this plan are mentioned below.

    Plan type Non-linked group life insurance
    Plan basis Group
    Premium paying terms Single premium scheme
    Policy term

    Minimum – 2 years

    Maximum – 20 years

    Maturity benefits No maturity benefits payable
    Premium payment frequency Single premium
    Guaranteed additions No Bonus available
    Medical history Members should submit medical history before they are enrolled in this scheme
    Free look period Policyholders can choose to return the policy within 15 days of date of purchase
    Alterations Policyholders can choose to add riders at the time of registration
    Nominations Policyholder can nominate a person of his/her choice
    Sum assured Sum assured will be paid on death or diagnosis of critical illness
    Policy coverage Death benefit (additional benefits can be added via riders)

    Benefits/Advantages of HDFC Life Group Credit Protect Insurance Plan

    Some of the major benefits offered by HDFC Life Group Credit Protect Insurance Plan are mentioned below.

    • Customer benefits – The nominee will receive a death benefit in the event of demise of a borrower, thereby providing peace of mind to everyone involved.
    • Organisation benefits – The insurance policy will protect the interests of a lending institutions, ensuring that non-performing assets are reduced.
    • Surrender – A member can choose to surrender the policy in return for a surrender value.
    • Tax benefits – Policyholders are entitled to tax benefits under Section 80C and 80D of the Income Tax Act. This covers both the premiums paid and the amount received as death benefit.
    • Simple implementation – Implementing this scheme is simple and easy, with training provided to staff members of financial institutions to ensure seamless integration.
    • Policy continuance – In the event of a borrower repaying the loan before due date, the policy will continue to be in force, offering additional protection to the borrower and his/her family.

    How HDFC Life Group Credit Protect Insurance Plan Works

    The working of this plan is simple and easy to understand, with the example below explaining how it works. Mr. Gupta, aged 40 years borrows a sum of money from a particular financial organisation. This financial organisation has been using HDFC Life Group Credit Protect Insurance Plan to protect both its financial interests and earn goodwill from its customers. It registers Mr. Gupta under this plan for a period of 5 years, which is also the tenor of his loan.

    Now in the event of Mr. Gupta’s demise or him being diagnosed with a critical illness, a basic sum assured will be paid either to his nominee or himself, respectively. This sum will ensure that the loan can be repaid by his family members without an additional financial burden, thereby securing the interests of both Mr. Gupta and the lending organisation.

    Premium Payment

    This is a single premium plan, which means that a member is expected to pay the premium at the time of joining.

    Riders

    One can choose from two riders, the Accelerated Critical Illness rider and the Accidental Death Benefit rider. The Accelerated Critical Illness rider (ACI) provides the sum assured if a member is diagnosed with a critical illness whereas the Accidental Death Benefit (ADR) rider provides the sum assured if the member dies due to an accident.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    HDFC Life Group Credit Protect Insurance Plan Reviews

  • Page 1 of 50 1 2 3 4 5
    • HDFC Life Life Insurance
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Life Insurance with HDFC Life,The premium amount is 15,000 in year,the policy is for five years,the policy coverage amount is eight lakhs .Its been a year since i have taken this policy.The customer service is good and give prompt response to the customers.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 13, 2018
    • HDFC Life Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the HDFC life and the customer service is super one. I would like to say that the coverage value is around one crore Rupees. I am really happy with the HDFC life insurance company. Everything is up to the mark with them till now.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Feb 09, 2018
    • HDFC Life Life Insurance
      "Fabulous"
      0.5 4.0/5 "Great!"
      I do have the life insurance policy with the HDFC life and the response is good one and the coverage value is depends up on the market fluctuation regarding up on the market investment sector, so the return values are not really a commitment factor.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 07, 2018
    • HDFC Life Life Insurance
      "Excellent"
      0.5 4.0/5 "Great!"
      From the last three years of time, I do have the HDFC life and the coverage value is fine one for me. Its a kind of investment plan in SIP. HDFC Excel growth is the policy name and the returns are depends on market fluctuation.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 07, 2018
    • HDFC Life Life Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      I have a Life insurance with Hdfc Ltd,the service was good. The new schemes and offers they provide me was good which was helpful The payments are generally through online . It was totally a good experience with Hdfc Ltd life insurance service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 05, 2018
    • HDFC Life Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have a term insurance from Hdfc,the service is good with Hdfc. The benefits is single benefit. Hdfc staffs are friendly in approach. The payments are through online. The documents procedure was been smooth. It was totally a good experience with Hdfc life insurance service.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 03, 2018
    • HDFC Life Life Insurance
      "Best insurance policy"
      0.5 5.0/5 "Blown Away!"
      I have taken life Insurance with HDFC Life.The premium amount is 35,000 per annum.This policy is taken 5years back.The total policy is for seven years.i get good policy coverage amount.The plan name is sampoorna samridhi,i have no claim experience with them.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 02, 2018
    • HDFC Life Life Insurance
      "Better "
      0.5 3.0/5 "Satisfactory"
      I do have life insurance policy with the HDFC life insurance company and the customer service is okay one for me. Plan benefits are fine one for me with the HDFC life and their coverage value too. Everything went in the smooth manner with them till now.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 02, 2018
    • HDFC Life Life Insurance
      "Better "
      0.5 3.5/5 "Pretty good"
      I do have the life insurance policy with the HDFC life and the customer service is good too. Service aspects are okay one for me with them. I would like to say that the plan benefits are good too with the HDFC life insurance company.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 02, 2018
    • HDFC Life Life Insurance
      "Wonderful"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the HDFC life insurance company. Coverage value and the benefits are okay according to the premium. I would like to say that the customer service is an excellent one with the HDFC life insurance company.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 02, 2018
    • HDFC Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with HDFC LIFE from last 1 year and it is a good insurance policy to use. The tenure of this life insurance policy is 2 years and i pay a premium of Rs 390 on monthly basis through ECS. I am convenient with the payment options which they are giving. I have a coverage of Rs 20 lakhs for this insurance.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 29, 2018
    • HDFC Life Life Insurance
      " A good insurance"
      0.5 4.0/5 "Great!"
      I had a life insurance policy in Hdfc Life. My life insurance policy covers all Benefits. I feel very comfortable while am renewing the policy. I choose on line payment to renewal the policy on time. I am comfortable with the HDFC Life insurance policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 28, 2018
    • HDFC Life Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Life insurance service from Hdfc ,the service is good with Hdfc. I have taken two policy's for the term period of 15 years. I am paying 25k yearly as a premium. They used to update me regarding new schemes and offers also the customer service was good with Hdfc life insurance team.It was an excellent experience with Hdfc life insurance service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 25, 2018
    • HDFC Life Life Insurance
      "Good Investment"
      0.5 5.0/5 "Blown Away!"
      I have taken a child plan with HDFC life and felt this Insurance is one of the best in the market. I need to pay Rs.25000 yearly for five years and my child would be getting a sum assured at the end of the maturity period. The payment option of them is quite good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 24, 2018
    • HDFC Life Life Insurance
      "Best insurance policy"
      0.5 5.0/5 "Blown Away!"
      I have taken Term Insurance with HDFC Life.Th premium amount is 11,000,its been two years since i have this policy,this policy is for 40 years i get policy coverage amount of one crore in case of accident.Net banking is good and efficient to use.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 23, 2018
    • HDFC Life Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have an Life insurance service from Hdfc Life insurance. The policy's I have taken is good and it has lots of benefits too. They used to update me regarding new schemes and offers and the payments will be deducted from my account through ECS. It was an average service from Hdfc life insurance service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 19, 2018
    • HDFC Life Life Insurance
      "Poor Service!! Once after payment, they will forget you"
      0.5 1.5/5 "Bad"
      HDFC Life backend and medical teams are very unprofessional. I have been waiting for a form from the backend team, but they have no clue of it on how to find and send it. Even after multiple requests from 5 days, they were not able to send it. They will always say that your request will be fulfilled on a priority basis. If that is really been a priority, why it will take 5 days to just send a single form. My medical appointment has been scheduled thrice and never been confirmed even after multiple escalations. I have been fed up of following-up with them. They will always say, you will receive the confirmation by the end of day, but you will never receive it. Never expected this from a private service provider. Public companies are a lot better. I will never suggest my friends to go with hdfc life. Customers look like jokers for them.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 17, 2018
    • HDFC Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I had taken ULIP policy with HDFC life, I have deposited 7.5L rupees in the year of 2010. The expected future value was 20L and today it was 13.5L. Whenever I need any help will visit the branch. The online services are good and i had used one or two times. The maturity period was 10 years and their locking period is 3 years, amount varies accordingly.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 16, 2018
    • HDFC Life Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the HDFC life and the customer service is good one for me. I would like to say that the coverage value is also good one for me with the HDFC life insurance company and I dont have any such complaints.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 10, 2018
    • HDFC Life Life Insurance
      "Need to improve"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the HDFC life with the coverage value is around 5 lakh Rupees. Premium amount is around 5500 Rupees and the response is not yet experienced, also I have not got the documents for this insurance policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 10, 2018
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