"Spending a whole day looking for insurance is fun," said nobody, EVER!

HDFC Life Group Term Insurance Plan

 4.0 / 5.0   by 1191 users
Used this product? Write a review >>

Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

The HDFC Life Group Term Insurance Plan serves as an ideal way for employers to reinforce their bond with their employees by providing life insurance. The life insurance coverage needs of your employees can be met in the form of ‘Employee Benefit’, or ‘Cover for vehicle or housing loans given by you to your employees’. This HDFC Life Insurance company policy is a one year renewable plan. The sum assured will be payable on death of the insured. This plan is more comprehensive than the Group Personal Accident Insurance plan as it covers death due to any cause.

Eligibility Conditions for The HDFC Life Group Term Insurance Plan:

Minimum Entry Age 16 years 18 years if rider is chosen
Maximum Entry Age 79 years 64 years if rider is chosen
Maximum Maturity Age 80 years

Premium Payments Offered by the HDFC Life Group Term Insurance Plan:

Minimum sum assured Rs.5,000
Maximum sum assured No limit. Depends on the age and occupation of the employee.

Key Features of HDFC Life Group Term Insurance Plan:

Type of Plan Group Term Insurance Plan.
Premium Payment options Single instalment at the start of the cover. Half-yearly Quarterly Monthly
Grace period 15 days grace period will be given to pay the premiums. If the premiums aren’t paid, the policy will lapse.
Revival A policy that has been discontinued can be revived within 3 years from the due date of the first unpaid premium.
Surrender benefit If the policy is surrendered before the completion of the term, the amount equal to the premium for the unexpired term less the deduction for expenses and taxes will be payable. The members will be given an option to continue the policy as an individual policy till the expiry of the term of the group policy.

What you need to know about HDFC Life Group Term Insurance Plan:

  • Life cover for all group members can be taken under one policy.
  • Easy and hassle free financial help can be provided to the employee’s family in case of an unfortunate event.

Payment Options for the Premiums offered by HDFC Life Group Term Insurance Plan:

The policyholder can pay the premiums regularly using the following options –

  • Single instalment
  • Half – Yearly
  • Quarterly
  • Monthly

Advantages and Benefits of HDFC Life Group Term Insurance Plan:

The HDFC Life Group Term Insurance Plan provides the following key benefits:

  • Benefits to employer:

- Life cover for the group members will be provided under one policy.

- Hassle free and easy financial help can be lent to the family of the employee in case of an unfortunate event.

- Cost effective as you get high cover at low premium.

- Covers service gratuity liability.

- Serves as a retention tool.

- Premiums paid are deductible under Section 37 (1) of the Income Tax Act, 1961.

- The procedure to add and delete a member into the policy is simple.

  • Benefits to employee:

- Loved ones get financial support.

- There is no need for medical tests.

- It will cover vehicle and housing loan given to you by the employer.

- The premiums paid will be treated as perquisites.

- Death benefits are exempt from tax under Section 10(10D).

  • Tax benefits under Section 80C, Section 80D, and Section 10(10D).
  • Optional riders are available. The optional benefits available are:

- Accidental Death Benefit

- Total Permanent Disability

- Critical Illness Benefit

- Total Permanent and Partial Disability Benefit

Exclusions Under HDFC Life Group Term Insurance Plan:

If the member of the group commits suicide the nominee will receive the sum assured.

Revival

The policy will lapse if the premium is not paid within the grace period. A policy that has been discontinued can be revived within 3 years from the due date of the first unpaid premium.

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

HDFC Life Group Term Insurance Plan Reviews

Page 1 of 50 1 2 3 4 5
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been holding my life insurance with HDFC LIFE from long time, and I itself have applied for this insurance is i have knowledge regarding this,and there premium amount they have given me was nominal ,i use to pay up to 3500 as an premium on yearly basis,and there is no hidden charged , and i pay premium through on line.
    Was this review helpful? 0
    , jaipur
    Reviewed on Jan 23, 2019
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy a long time back and i had been paying the premium on an annual basis. The premium amount has not been high and the payment method has also been convenient as well. There has not been any hassle faced with the services which they had provided so far.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 21, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have applied my life insurance with HDFC LIFE, there agent was good, they have explained me clearly about the policy benefit, and there coverage, and the premium amount they have charged me was nominal, it was on yearly basis , and i use to pay premium through on line.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 20, 2019
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using HDFC LIFE for my life insurance,the agent had clearly explained me about the policy and the benefit coverage,they use to call me if any further update they change it, they have given me hard copy as well ,the premium amount is based on yearly they charged me,that was nominal,and till now no hidden charges they have charged from me.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 20, 2019
  • HDFC Life Life Insurance
    "Bad return value in this policy"
    0.5 1.0/5 "Really Bad"
    I hold a investment policy from HDFC LIFE. Friend has told me about this policy. They are not providing a good service to the customer. I took this policy in 2016. I have been paying the premium amount of Rs. 25000 per annum and the sum assured amount is Rs. 2.40 lakhs. This is a tax benefitable policy.
    Was this review helpful? 0
    , vapi
    Reviewed on Jan 19, 2019
  • HDFC Life Life Insurance
    "Good for investment"
    0.5 5.0/5 "Blown Away!"
    HDFC Life is best as per my experience, their claim ratio is good. They are providing terminal premium for the critical illness, disability cover. I took the policy cover for Rs. 10 lakhs, I make the premium of Rs. 30,000 on quarterly basis it has term of 10 years. They do have life cover for certain demise.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 19, 2019
  • HDFC Life Life Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    I have taken life insurance policy from Hdfc Life based on the benefits and income tax benefits i have chosen this policy . I make the payment through credit card . Their customer service is good as they respond that much.This policy covers accidental and critical illness benefits . Overall ma satisfied with the policy
    Was this review helpful? 0
    , bhubaneshwar
    Reviewed on Jan 19, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my life insurance with HDFC LIFE INSURANCE recently in december , they have charge me nominal premium for a yearly basis, and it use to get through on line , and there agent was good they help me to get good policy and they use to update me if any update is there in this policy time to time.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 17, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my life insurance with HDFC LIFE,there service is good, i use to pay my premium on yearly basis , they have charged me up to 5000 rupees ,i use to pay through on line , they are not taken any extra charges,the agent had explain me clearly about there policy coverage.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • HDFC Life Life Insurance
    "Insurance for life"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy almost five years back and i had been paying the premium on an annual basis. The premium amount was not too high and the payment method has been easy as well. There has not been any issues faced with the services of them so far.
    Was this review helpful? 0
    , pune
    Reviewed on Jan 16, 2019
  • HDFC Life Life Insurance
    "Very Good Service"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy almost five years back and i had been paying the premium on an annual basis. The premium amount was not too high and the payment method has been easy as well. There has not been any issues faced with the services of them so far.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Jan 13, 2019
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have applied my life insurance with HDFC LIFE , there agent was good, they have explained me clearly about the policy benefit, and there coverage, and the premium amount they have charged me was nominal,like i pay premium up to 6000 rupees for two years, it was on yearly basis , and it use to get auto debited from my account.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Jan 08, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my life insurance with HDFC LIFE, there service is good, the agent had explain me about the policy coverage,and about plan benefits clearly, and the premium amount they have charged me on yearly basis, and they have charged me up to 14,000 it is nominal , and i use to pay the premium amount through on line.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 08, 2019
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have taken my life insurance policy with HDFC life,there service is good, there premium they have charged me was nominal, i pay premium on monthly basis, and there agent had properly explain about the plan benefits and policy ,overall service is good.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 07, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have applied my life insurance with HDFC life, there agent was good, they have explained me clearly about the policy benefit, and there coverage, and the premium amount they have charged me was nominal, it was on yearly basis , and i use to pay premium through on line.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 07, 2019
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my life insurance with HDFC life insurance, there service is good, there agent had explained me clearly about the policy coverage and benefits,and the premium amount i use to pay in yearly basis, and the premium amount is nominal,and overall service is good.
    Was this review helpful? 0
    , jaipur
    Reviewed on Jan 06, 2019
  • HDFC Life Life Insurance
    "Don't go with HDFC LIFE for Insurance"
    0.5 2.0/5 "Expected more"
    I have invested Rs. 80000 in HDFC LIFE. They have deducted the money from my account but they have not able to generate a bill. Due to the uncertanity, i have not continued with this policy. They charged me twice for single premium. I closed the policy but they have taken long time to return the money anyway it took a long process. I spoke with the call centre regarding this issue but they were not helpful.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 02, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 4.5/5 "Excellent!"
    I have been using the HDFC Life Insurance policy for long time. they charge nominal premium for this policy it also offers accidental benefits and I make payment through online. so in terms of features and their service it has been a good experience with them. HDFC Life is a recommendable insurance provider.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 02, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have applied my life insurance with Life insurance corporation of India, there agent was good, they have explained me clearly about the policy benefit, and there coverage, and the premium amount they have charged me was nominal, it was on yearly basis , and i use to pay premium through on line.
    Was this review helpful? 0
    , new delhi
    Reviewed on Dec 24, 2018
  • HDFC Life Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have chosen the investment plan in HDFC. In 2016, i have taken this policy. I pay the premium of Rs. 40000 per annum. Through online, i make the payment. Total tenure period of the policy is 10 years. This is a tax benefitable policy. I don't remember about the sum assured amount.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 22, 2018
Common Loader Icon
Page 1 of 50 1 2 3 4 5

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.