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HDFC Life Group Credit Protect Plus Insurance Plan

The HDFC Life Group Credit Protect Plus Insurance Plan is a tailor made insurance policy for members of a financial institution. If the member of the group is ill, disabled, or dies in an unfortunate event, the nominee will not have to take on the burden to repay the outstanding loan to the financial institution.

Eligibility Conditions for the HDFC Life Group Credit Protect Plus Insurance Plan:

Minimum Entry Age 14 years
Maximum Entry Age 70 years
Maximum Maturity Age 75 years

Policy Terms for the HDFC Life Group Credit Protect Plus Insurance Plan:

Single Pay 10, 15 to 35
Single Premium 10 – 20 years

Premium Payments Offered by HDFC Life Group Credit Protect Plus Insurance Plan:

Minimum Premium per member Rs.25
Minimum Sum Assured Rs.1,000
Premium due The actual premium depends on the:
  • Plan option chosen
  • Cover term
  • Amount of sum assured
  • Age of the member
  • Cover type
  • Mortality class
  • Underwriting

Key Features of HDFC Life Group Credit Protect Plus Insurance Plan:

Type of Plan Non-linked non-participating group life insurance plan.
Minimum group size 50 members
Plan options There are 6 type of plan options:
  • Life option: Death benefit
  • Extra life option: Death benefit plus additional accidental death benefit.
  • Terminal life option: Death benefit plus accelerated terminal illness benefit.
  • Critical life option 1: Death benefit plus accelerated critical illness benefit with the critical life benefit term equal to the main benefit or 5 years, whichever is lower.
  • Critical life option 2: Death benefit plus accelerated critical illness benefit with the critical life benefit term equal to the main benefit or 10 years, whichever is lower.
  • Life disability option: Death benefit plus accelerated total permanent disability.
Free look period The policy can be returned within 15 days from the receipt of the policy.
Surrender benefit The main policy cannot be surrendered.

What you need to know about HDFC Life Group Credit Protect Plus Insurance Plan:

Advantages and Benefits of HDFC Life Group Credit Protect Plus Insurance Plan:

The HDFC Life Group Credit Protect Plus Insurance Plan provides the following key benefits:

  • Death benefit:

In the event of death of the member, the sum assured is paid if the level term is selected. If the decreasing term is selected, the decreasing sum assured is paid.

  • Accelerated terminal illness benefit:

If the member is diagnosed with a terminal illness, the sum assured is paid if the level term is selected. If the decreasing term is selected, the decreasing sum assured is paid. The .

  • Additional accidental death benefit:

If the member dies in an accident, the sum assured is paid if the level term is selected. If the decreasing term is selected, the decreasing sum assured is paid. This benefit is in addition to the death benefit.

  • Accelerated critical illness option 1:

If the member is diagnosed with a critical illness, the sum assured is paid if the level term is selected. If the decreasing term is selected, the decreasing sum assured is paid. The risk cover ceases. The CI benefit will be equal to the main benefit or 5 years, whichever is lower.

  • Accelerated critical illness option 2:

If the member is diagnosed with a critical illness, the sum assured is paid if the level term is selected. If the decreasing term is selected, the decreasing sum assured is paid. The risk cover ceases. The CI benefit will be equal to the main benefit or 10 years, whichever is lower.

  • Accelerated total permanent disability:

If the member is disabled due to an accident, the sum assured is paid if the level term is selected. If the decreasing term is selected, the decreasing sum assured is paid. The risk cover ceases.

  • Moratorium period:

Members can take home loan, education loan or mortgage which will be disbursed in two or more payments. The coverage will be offered for the moratorium period which is equal to the initial sum assured. Member can choose the moratorium period which is 1 - 7 years. The term of the cover can be equal to the term of the moratorium period. The death benefit following the moratorium period will be reducing cover.

Charges applicable under :

Data management Rs.15 per member per annum
Premium collection Rs.10 per member per annum
Issuance of certificates of insurance Rs.10 per member subject to a minimum of Rs.500
Claims settlement Rs.10 per claim

Exclusions under HDFC Life Group Credit Protect Plus Insurance Plan:

The following critical illnesses will be excluded:

  • Surgery of Aorta
  • Major head trauma
  • Paralysis
  • Loss of sight
  • Major burns
  • Loss of limbs
  • Heart valve surgery
  • End stage lung disease
  • Loss of independent existence
  • Cancer
  • Heart attack
  • Coronary artery bypass graft surgery
  • Kidney failure
  • Stroke
  • Major organ transplant
  • Benign brain tumor
  • Apallic syndrome
  • End stage liver disease
  • Coma
  • HIV/ AIDS
  • Pre-existing medical condition
  • Radioactive contamination due to nuclear accident
  • Diagnosis and treatment outside India
  • War, invasion, civil commotion, etc
  • Service in police, military, etc

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

 4.0 / 5.0   by 1313 users
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HDFC Life Group Credit Protect Plus Insurance Plan Reviews

Page 1 of 50 1 2 3 4 5
  • HDFC Life Life Insurance
    "Better Policy"
    0.5 5.0/5 "Blown Away!"
    From my HDFC LIFE, i have taken my life insurance. The executive came to my place and informed me about the policy details and gave me some offer since it was good, i have selected them. I have been paying the premium amount of Rs. 2500 per month. The policy term is 15 years. I am not sure about the sum assured amount.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 10, 2019
  • HDFC Life
    HDFC Life Life Insurance
    "People more aware of their offerings &its better than others"
    0.5 4.0/5 "Great!"
    Basically I did not have any idea about the policy and it was just referred by a friend so have opted the policy, just for an investment perspective. I have received the insurance paper. Their executive explained me about the benefits. I pay 50K to 55K through online and tenure is 12 years.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Sep 18, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    HDFC LIFE is offering a good benefits and the charges are nominal when compared with other insurer so I took a term plan with them. They have explained me about benefits of the policy. They need some improvement on the customer service. I have paid 24K for a year.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Sep 03, 2019
  • HDFC Life Life Insurance
    "Average Policy"
    0.5 4.0/5 "Great!"
    Bought my money back policy from HDFC LIFE. Taken the policy in the year of 2016. Earlier i had a salary account with HDFC hence the manager is forcefully to take this policy. I am paying the premium amount of Rs. 25000 annually. I need to pay the premium for 5 years after 5 years there is a lockin period. I get the sum assured amount of Rs. 2.50 lakhs.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 27, 2019
  • HDFC Life Life Insurance
    "Quickest way to insure"
    0.5 5.0/5 "Blown Away!"
    Its very to take a policy through online from HDFC. The claim ratio is very nice hence i have chosen the HDFC LIFE. I'm satisfied with the coverage value of Rs. 50 lakhs. I have chosen the annual payments mode. They do have a partial disability cover is included.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 25, 2019
  • HDFC Life Life Insurance
    "Coverage for the premium is good"
    0.5 4.0/5 "Great!"
    Chosen my term insurance from HDFC LIFE. HDFC has better claim ratio thats the reason i opted the policy. I make the premium through online every time. I pay the premium amount of Rs. 6600. They have included with disability cover and accidental cover. The premium is less since i purchase the policy through online.
    Was this review helpful? 1
    , bangalore
    Reviewed on Aug 16, 2019
  • HDFC Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I took a term insurance with HDFC LIFE, I have compared with online site and found they are having good payment rates. The customer service is good. I am satisfied with the benefits. I am doing monthly premium of Rs.2000 and need to pay till 15 years. The payment mode is online.
    Was this review helpful? 1
    , bangalore
    Reviewed on Aug 06, 2019
  • HDFC Life Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have a term insurance with HDFC LIFE because the benefits are too beneficial. I am paying 9,400 rupees for a year through net banking. The policy covers till the age of 85. The nominee would be getting a benefit of 75L. They have provide insurance documents on time.
    Was this review helpful? 0
    , mumbai
    Reviewed on Aug 06, 2019
  • HDFC Life Life Insurance
    "Satisfied"
    0.5 4.0/5 "Great!"
    Recently I have purchased a super savings policy from HDFC LIFE. I need to pay the premium for 8 years and after that I will get a profit for every year. They will be providing 10K on monthly basis. I have taken a policy premium of 75K per year. The payment mode is cheque.
    Was this review helpful? 0
    , bangalore
    Reviewed on Aug 02, 2019
  • HDFC Life Life Insurance
    "If you want save tax, purchase this policy"
    0.5 5.0/5 "Blown Away!"
    Bought my life insurance policy from HDFC LIFE. For the tax benefit purpose, i purchase this policy. I am not sure about the plan name. They will double the money in returns at the time maturity and its a long term plan. I pay the premium amount of Rs. 24000 annually.
    Was this review helpful? 0
    , new delhi
    Reviewed on Aug 01, 2019
  • HDFC Life Life Insurance
    "Excellent Plan"
    0.5 5.0/5 "Blown Away!"
    Bought my life insurance from HDFC LIFE. Every year i need to invest the money of Rs. 50000 for first five years. Next 5 years will be a lockin period. After 10 years, i get the money of Rs. 18000 every year for 5 years and at the time of maturity i get a sum assured amount of Rs. 10 lakhs. I bought this policy for daughter's future.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 31, 2019
  • HDFC Life Life Insurance
    "Satisfactory"
    0.5 5.0/5 "Blown Away!"
    Actually I was looking for a investment plan with HDFC BANK and they have provided me a life insurance. I never asked them for a policy but still they provided me an opportunity then I researched and found the benefits are also good. I need to pay the premium of 30K half yearly through online.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jul 31, 2019
  • HDFC Life Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have chosen the life insurance policy from HDFC LIFE and the plan is Super Income. For the future salary purpose, i have selected the policy. In this policy, i need to pay the premium for first 10 years and the next years will be lockin period and after i can get a lumpsum amount or else i can convert into monthly payment. I pay the premium amount of Rs. 25000 per annum. They are providing the sum assured amount of Rs. 1.87 lakhs.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 30, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have taken the CHILDREN PLAN with the HDFC LIFE where the maturity period of the policy is for 15 years with the policy. The coverage is for self with the policy is for self added on that the benefit of the policy is in case of any incident happened will be getting the amount and after the maturity there is a sum assured.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 29, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am using the life insurance policy with HDFC LIFE and the maturity period of the policy is for 7 years but the premium have to pay for 5 years. The documents submitted through the offline. The sum assure value of the policy is for 5L. I got the hard copy too.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jul 27, 2019
  • HDFC Life Life Insurance
    "Need to provide correct details "
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in HDFC LIFE on 2 years before. The policy is for 10 years and other 10 years for maturity. I am paying premium in the yearly package. While getting a policy my agent has not given an information about the policy details at an initial they stated offers later that offers are not listed in the benefits. I use to do payment through an online.
    Was this review helpful? 0
    , pune
    Reviewed on Jul 26, 2019
  • HDFC Life Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    Yearly once I'm paying the premium for my life insurance. My cousin is working in HDFC hence i have taken the policy. I'm satisfied with the sum assured amount. I make the premium through online. I have a HDFC corporate account hence its easy to pay.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 26, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    TERM PLAN using from last few years, the documents submitted through the online as well as the offline process. The premium paying for 6 months, coverage is for self. There is no coverage apart from this. The customer support is good and responsive.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 22, 2019
  • HDFC Life Life Insurance
    "Need to decrease charges"
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in HDFC LIFE on 10 days before only. The policy for 12 years.I am paying premium in the monthly package. While getting a policy my agent has given an information about the policy details. They detect amount from my credit card for the payment.Charges are high. EMI is only 945 told at an initial then later it was for 1276 EMI charges per month.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 21, 2019
  • HDFC Life Life Insurance
    "Good for family protection"
    0.5 5.0/5 "Blown Away!"
    I have term plan with HDFC life, I have chosen the sum assured of Rs. 75 lakhs it has the duration of 50 years, life cover is upto 75 years. I make the premium around Rs. 800 per month, it has tax cover, critical illness, waiver on premium at disability. Cancer and Heart attack cover is also there.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 19, 2019
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