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HDFC Life Insurance

HDFC Life Insurance with a claim settlement ratio of 97.62% is one of the most trusted insurance companies in India and is known to provide insurance products such as term insurance plans, ULIPs, women and children plans,savings and investment plans, etc.
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Plan Benefits

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Responsiveness

HDFC Standard Life Insurance Company Limited, or HDFC Life as it is more commonly called, is a merger between India’s largest housing finance company – HDFC Ltd., and a globally renowned long-term investment savings firm – Standard Life. At the moment, Standard Life holds 35% of the stake and HDFC Ltd. holds 61.63% of the stake in HDFC Life, and the remainder is held by other players.

HDFC Standard Life has established itself as one of the most trusted insurance firms in the country. It offers a wide variety of products and services for individuals as well as group entities. Whether you are looking for protection plans, women’s or children’s plans, pension plans or savings and investment solutions, HDFC Life has it all.


Key Highlights of HDFC Life Insurance

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HDFC Life Insurance 1 Cr Life cover plan

1 Crore Life Cover

Get 1 Cr Life cover @₹ 18*/day

Claim-settlement ratio for HDFC Life Insurance

Claim Settlement Ratio

Claim-settlement ratio of 97.62% for year 2016-2017

Occupation eligibility for HDFC Life Insurance

Grievances Resolved

99.89% Grievances Settled for year 2016-2017


To be eligible for HDFC Life insurance

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Minimum age for HDFCLife insurance

You should be at least 18 years old

Maximum age for HDFC Life insurance

You should be less than 65 years old

Occupation eligibility for HDFC Life insurance

You should be either Salaried, Self- employed, a professional or have your own business


HDFC Life insurance at a Glance

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Maximum tenure of HDFC Life insurance

A maximum tenure of 40 years

Maximum sum assured for HDFC Life insurance

Min Sum Assured: Rs 25 Lakhs
Max Sum Assured: No limit subject to underwriting

Exclusions for HDFC Life insurance

Specific exclusions: Suicide within the first 12 months


Documentation needed to apply for an HDFC Life Insurance

  • 1. Identity Proof
  • 2. Age Proof
  • 3. Income Proof
  • 4. Address Proof
  • 5. PAN Number

Benefits of HDFC Life Insurance:

HDFC Life was set up in 2000 and has since grown into one of the biggest and best long-term life insurance companies in India. One of the things that sets HDFC Life apart from its competitors is that it allows customers to customise their plans by adding riders and other optional benefits at relatively inexpensive prices. The company has honoured 97.62% claims under individual life insurance policies and 99.67% claims under group policies in the financial year 2016-17. The insurer has also been conferred with numerous awards and recognitions for its innovative products, adoption of technology, and customer service initiatives.

HDFC Standard Life also boasts of a large network of branch offices across India. The extensive set of Bancassurance partners and corporate agents help the company reach a wider customer base.

Different Kinds of Life Insurance Policies Offered by HDFC Life:

HDFC Standard Life has developed a strong reputation for providing a vast array of insurance policies in all segments, be it protection plans, retirement solutions, children’s plans, savings and investment instruments, women’s plans, etc. Following is a list of the various plans offered by HDFC Life:

Term Insurance Plans

The Term Insurance Plans offered by HDFC Life provide a life cover in addition to financial security to the dependents of the insured.

  1. HDFC Life Click 2 Protect 3D Plus: : This plan provides financial protection to the loved ones of the insured. Policyholders can customize their plan with 9 plan options available. An added advantage is that the policyholders have the option of choosing their policy terms and premium payment terms. In the event of the accidental total and permanent disability and diagnosis of critical and terminal illness, future premiums on the policy are waived.

  2. HDFC Life Click 2 Protect Plus: The Click to Protect Plus provides the insured with a life cover at an affordable cost. The plan also comes with an income option that pays 10% of the sum assured on death and the remaining 90% as monthly income over a period of 15 years. The plan comes with flexible premium payment options.

  3. HDFC Life Click 2 Protect Health: This plan provides the insured with protection for their entire life. In addition to providing a life cover, all premiums are waived on diagnosis of critical and terminal illness and on accidental disability. The life cover can be increased every year through the top-up covers.

Plan Sum assured Policy Term
HDFC Life Click 2 Protect 3D Plus Rs.10 lakh Whole life
HDFC Life Click to Protect Plus Rs.25 lakh 10 to 40 years
HDFC Life Click 2 Protect Health Rs.10 lakh Whole life

HDFC Life Savings and Investment Plans:

The HDFC Life savings and investment plans are designed in a manner such that customers have multiple avenues to save money so that it can grow over a period of time. These plans help customers in following a systematic investment discipline to ensure that they have adequate funds to meet their long-term objectives. Following are the savings and investment plans that you can purchase from HDFC Life:

    • HDFC Life Click2nvest ULIP: This is a unit-linked plan that provides the policyholder with investment options in addition to a life cover. The policyholder can choose from different funds to invest in. Policyholders can choose different premium payment options and have the flexibility to choose their policy term.
    • HDFC Life Classic One: This plan offers both an individual and a joint life cover. The policyholder has the opportunity to earn market-linked returns. Under the joint life policy, the surviving policyholder has the option of withdrawing the entire value of the fund and continuing with the life cover for the rest of the policy’s term. Loyalty additions can be earned through the allocation of additional units after completion of the 10th year of the policy’s term.
    • HDFC Life Sampoorn Samridhi Plus – Whole Life: This is an endowment plan that provides the policyholder a choice of 2 options: endowment and endowment with whole life cover up to the age of 100 years. The plan comes with a maturity benefit and accidental death benefit  
    • HDFC Life ClassicAssure Plus Plan: This plan provides the insured with a life cover along with investment opportunities to enable growth of savings. The policy comes with a limited premium payment term of 7 years and 10 years. Policyholders also receive a guaranteed reversionary bonus during the premium payment term.
    • HDFC Life Super Income Plan:This is a non-linked, participating, limited pay, money back plan that provides guaranteed benefits in addition to investment options. The plan provides the insured with assured income for a period of 8 to 15 years. 8% to 12.5% of the sum assured is provided as a maturity benefit.  
    • HDFC Life Sampoorn Nivesh: This is a life plan that provides the insured with investment options in multiple funds.  The plan has 3 options which the policyholder can choose from based on their requirement. Premium payments may be customized based on the policyholder’s choice. The fund value is provided as the maturity benefit.
    • HDFC SL ProGrowth Flexi: This is a unit-linked, savings-oriented life plan that provides the policyholder 2 benefit options to choose from. Policyholders can choose from 8 investment funds as well as the sum assured.
    • HDFC Life ProGrowth Plus: This plan is a life insurance-cum-unit linked savings plan that provides investment opportunities in the stock market. Policyholders have the flexibility of choosing their investment strategy based on their risk appetite and can make partial withdrawals to meet unplanned expenses.
    • HDFC SL ProGrowth Super II: This is a unit-linked-cum-savings life insurance plan that helps the policyholder achieve long-term savings. Policyholders have the flexibility of choosing the term of their policy and the sum assured. Additionally, the policyholder can choose from 8 investment funds.
    • HDFC SL Crest: This plan provides policyholders with the benefit of a life cover along with investment options. The premiums paid are invested in fund options of the policyholder’s choice. On maturity of the plan, the policyholder receives the fund value of the investment. In the event of the policyholder’s death, the fund value is paid to the beneficiaries in addition to the sum assured.
    • HDFC SL ProGrowth Maximiser: This is a unit-linked life insurance plan that gives policyholders the option of maximizing their returns. Policyholders are required to make a single premium payment and have the option of choosing from 4 investment funds.
    • HDFC Life Uday: This is a life plan that is savings oriented. The policy has significantly low premium rates when compared to other life plans. Policyholders have the benefit of 3% guaranteed additions p.a. during the first 5 years of the policy’s term. Bonuses are declared at the end of every year.
    • HDFC Life Capital Shield: The Capital Shield plan provides protection against the investments made in addition to providing a life cover. On maturity of the policy, the policyholder gets a maturity benefit of 101% of the total number of premiums paid.
    • HDFC Life SL SravGrameen Bachat Yojana: This policy has been developed exclusively for the rural population that provides returns even on low amounts invested. The plan requires the insured to make a single premium payment.  
    • HDFC Life Pragati: This plan has the dual function of a life insurance policy as well as an investment fund. The premiums for this plan are significantly low. Policyholders have the flexibility of choosing their premium payment terms. Policyholders receive the sum assured and the accrued reversionary bonuses as the maturity amount.
Plan Sum assured Policy Term
HDFC Life Click 2 Invest ULIP
  • Single premium: 125% of the premium
  • Regular and limited pay below the age of 55: 10 times the annualized premium
  • Regular and limited pay above the age of 55: 7 times the annualized premium
5 to 20 years
HDFC Life Classic One
  • Single  life below age 45: 1.25 times the annualized premium
  • Single life above age 45: 1.25 times the annualized premium
  • Joint Life: 10 times the annualized premium
10 years to 90 minus age at entry.
HDFC Life Sampoorn Samridhi Plus – Whole Life Rs.65,463 15 years to 40 years
HDFC Life Classic Assure Plan 10 years: Rs.49,447 15 years: Rs.48,032 20 years: Rs.73,516 10/15/20 years
HDFC Life Super Income Plan   Rs.1.28 lakh
  • Option 1: 16 years
  • Option 2: 18 years
  • Option 3: 20 years
  • Option 4: 22 years
  • Option 5: 24 years
  • Option 6: 27 years
HDFC Life Sampoorn Nivesh Single premium:
  • Entry age less than 45 years: 125% of premium paid
  • Entry age more than 45 years: 110% of premium paid
Regular and limited premium:
  • Entry age less than 45 years: Above 10 times the annualized premium/ 0.5 times the policy  term X annualized premium
  • Entry age more than 45 years: Above 7 times the annualized premium/ 0.25 times the policy  term X annualized premium
10/15/25 years
HDFC SL ProGrowth Flexi
  • Entry age less than 45 years: Above 10 times the annualized premium/ 0.5 times the policy  term X annualized premium
  • Entry age more than 45 years: Above 7 times the annualized premium/ 0.25 times the policy  term X annualized premium
10 to 30 years
HDFC Life ProGrowth Plus
  • Entry age less than 45 years: Above 10 times the annualized premium/ 0.5 times the policy  term X annualized premium
  • Entry age more than 45 years: Above 7 times the annualized premium/ 0.25 times the policy  term X annualized premium
10 to 30 years
HDFC SL ProGrowth Super II
  • Entry age less than 45 years: Above 10 times the annualized premium/ 0.5 times the policy  term X annualized premium
  • Entry age more than 45 years: Above 7 times the annualized premium/ 0.25 times the policy  term X annualized premium
  • Life Option: 10 to 30 years
  • Extra Life Option: 10 to 30 years
  • Life & Extra Health Option: 10 to 30 years
  • Extra Life & Health Option Benefit + Accidental Death Benefit
  • Life & Disability Option: 10 to 25 years
  • Extra Life & Disability Option: 10 to 25 years
  • Life & Health & Disability Option: 10 to 25 years
  • Extra Life & Health & Disability Option: 10 to 25 year
HDFC SL Crest
  • Entry age less than 45 years: Above 10 times the annualized premium/ 0.5 times the policy term X annualized premium
  • Entry age more than 45 years: Above 7 times the annualized premium/ 0.25 times the policy  term X annualized premium
10 years
HDFC SL ProGrowth Maximiser
  • Entry age less than 45 years: 125% of premium paid
  • Entry age more than 45 years: 110% of premium paid
10 years
HDFC Life Uday Rs.28,465 12 years to 15 years
HDFC Life Capital Shield Single premium:
  • Entry age less than 45 years: 125% of premium paid
  • Entry age more than 45 years: 110% of premium paid
Limited premium:
  • Entry age less than 45 years: Above 10 times the annualized premium
  • Entry age between 45 years and 54 years: 7 to 10 times the annualized premium
  • Entry age above 55 years: 7 times the annualized premium
10 years
HDFC Life SL SravGrameen Bachat Yojana Rs.5,000 5 years
HDFC Life Pragati Rs.5,000
  • Single pay: 5 to 20 years
  • Limited pay: 10 to 20 years
  • Regular pay: 10 years

HDFC Life Child Plans:

Given the unpredictability of life, it is essential to ensure that your children are financially secure at all times. HDFC child plans ensure that you start saving for the future expenses of your child at a very early stage so that you will have access to enough money to meet various expenses related to marriage, higher education, etc. Following are the two child plans you can purchase from HDFC Life:

  1. HDFC Life YoungStar Udaan: This children’s plan from HDFC ensures guaranteed payouts at each and every significant milestone of your child’s life. There are three maturity benefit options to choose from. The coverage can be availed for varying policy tenures and premium payment terms.
  2. HDFC Life YoungStar Super Premium: The Youngstar Super Premium plan by HDFC is essentially a ULIP that takes care of all the important financial milestones in your child’s life like education, marriage, buying a house, and so on. In case of death of the life assured, the policy will provide yearly payments to the family of the deceased. The customer has the flexibility to choose the funds in which the investments will be done.
Plan Basic Sum Assured Policy Term (Tenure)
HDFC Life YoungStar Udaan No limit 15 years to 25 years
HDFC Life YoungStar Super Premium Minimum - 10 x annualised premium if the individual is less than 45 years of age; and 7 x annualised premium if the investor is 45 years or above. Maximum - 40 x annualised premium Minimum - 10 years Maximum - 20 years

HDFC Life Retirement Plans:

The HDFC Life retirement solutions offer financial security to ensure that you will have a regular income even when your professional income no longer flows into your account. These plans help you live a comfortable life whilst dealing with rising inflation and the increased cost of living. Following are the retirement plans you can purchase from HDFC Life:

  1. HDFC Life Personal Pension Plus: This pension plan from HDFC provides you with an assured benefit of 101% of the premiums paid in case of vesting or death. Also, the plan allows you to choose an investment period between 10 years and 40 years. Reversionary bonuses and terminal bonus are offered under the policy.
  2. HDFC Life Pension Super Plus: This plan offers an assured 101% of all premiums paid. There is flexibility to choose tenure and guaranteed regular income in case annuity is purchased.
  3. HDFC Life Single Premium Pension Super Plan: This pension plan is a unit-linked, single premium plan that assures you get to generate a substantial corpus post retirement.
  4. HDFC Life Guaranteed Pension Plan: Guaranteed Pension Plan from HDFC Standard Life is a deferred pension plan that offers assured payouts at vesting or death. It guarantees an addition of 3% of sum assured on each premium year completion. The plan offers the flexibility of choosing the premium payment term.
  5. HDFC Life New Immediate Annuity Plan: This is a traditional pension plan that lets you choose an annuity and earn a regular income post your retirement. The plan ensures guaranteed income for as long as you or your spouse is alive. There are seven single life annuity options and four joint life annuity options to choose from.
  6. HDFC Life Click 2 Retire: The HDFC Life Click 2 Retire is an online retirement plan offered by HDFC. This is a unit linked insurance plan and offers you a number of benefits such as tax benefits, death benefits, vesting benefits and surrender benefits. The vesting age under the plan is 45 years, lower than most other retirement plans. Single pay and limited pay options are available under the plan.
  7. HDFC Life Assured Pension Plan - ULIP: This unit linked insurance plan provides customers with market-linked returns along with loyalty bonuses that help in achieving their retirement goals through strategic and systematic planning in advance. The entry age for the plan is as low as 18 years.
  8. HDFC Life Pension Guaranteed Plan: This is a single premium annuity plan that offers a guaranteed income on a regular basis for life. The customer can choose from various annuity options. The coverage can be availed on a single or joint life basis. The annuity can be received immediately or as deferred annuity. There is an option to receive the purchase price at the death of the life assured.
Plan Minimum Annual Instalment Premium Policy Term (Tenure)
HDFC Life Personal Pension Plus Rs.2.04 lakh 10 years to 40 years
HDFC Life Pension Super Plus Rs.24,000 10 years / 15 years / 20 years
HDFC Life Single Premium Pension Super Plan Rs.25,000 (Single Premium) 10 years
HDFC Life Guaranteed Pension Plan Rs.24,000 10 years to 20 years
HDFC Life New Immediate Annuity Plan Varies based on the annuity option chosen Varies based on the annuity option chosen
HDFC Life Click 2 Retire Rs.24,000 10 years / 15 to 35 years for Single Pay, 8 Pay and 10 Pay policies; and 15 years to 35 years for 15 Pay policies
HDFC Life Assured Pension Plan Rs.24,000 10 years / 15 to 35 years for Single Pay, 8 Pay and 10 Pay policies; and 15 years to 35 years for 15 Pay policies
HDFC Life Pension Guaranteed Plan For Immediate Life Annuity - Rs.42,076 For Immediate Life Annuity with Return of Purchase Price - Rs.1,60,261 For Deferred Life Annuity with Return of Purchase Price - Rs.76,046 Varies based on the annuity option chosen

HDFC Life Women’s Plans:

HDFC Life has designed a special solution that caters specifically to the various financial requirements of women. This product is created to ensure that women can plan well in advance for different stages of life, like retirement, protection, child’s education, etc. At the moment, HDFC Life has only one Women’s plan which is as follows:

  1. HDFC Life Smart Woman Plan - This is an insurance scheme that provides both investment and insurance benefits under the same product. The customer can choose from three benefit options. The policy offers premium waiver benefit following pregnancy complications, diagnosis of malignant cancer in female organs, or death of the spouse of the policyholder. Additional cash payouts are offered periodically under specific plan variants.
Plan Basic Sum Assured Policy Term (Tenure)
HDFC Life Smart Woman Plan Minimum - 10 x annualised premium if the individual enters when she is less than 45 years of age; and 7 x annualised premium if the individual enters when she is 45 years or above Maximum - 40 x annualised premium 10 years / 15 years

How to Claim Insurance with HDFC Life:

Following is the procedure to claim insurance with HDFC Life:

  • Write a letter intimating the company about the claim.
  • Once the company receives your intimation, it will revert with a list of the documents you will have to submit to start the claims process.
  • Go through the letter, assemble all documents, and drop them off along with the claim form at the nearest HDFC Life branch.
  • The company will then review your documents and determine whether or not you are eligible for the claim amount.
  • If the documents provided suffice, the company will accept your claim request and process the same as early as possible and make the payment to the policyholder/nominee.
  • In case the claim is rejected, the company will communicate with the individuals the reasons as to why their claim was rejected.
  • You can drop an email to claims@hdfclife.com in case you require any assistance regarding the reporting of claims.

Documents Required to Claim Insurance with HDFC Life:

Following are the documents required when making claims with HDFC Life:

In case of Natural Death:

  • Original policy document
  • Death claim form (including NEFT)
  • Death certificate issued by the government or a relevant authority
  • Medical records of the life assured at the time of death
  • Residence and identity proof of the claimant
  • NEFT account details
  • For money back/pension and for maturity claims - Annuity Claim Documentation

In case of Unnatural Death:

  • Original policy document
  • Death claim form (including NEFT)
  • Death certificate issued by the government or a relevant authority
  • Panchanama and police inquest report / FIR
  • Residence and identity proof of the claimant
  • Post mortem report
  • NEFT account details
  • For money back/pension and for maturity claims - Annuity Claim Documentation

In case of Death from Natural Calamities / Disasters:

  • Original policy document
  • Death claim form (including NEFT)
  • Death certificate issued by the government or a relevant authority
  • Residence and identity proof of the claimant
  • NEFT account details
  • For money back/pension and for maturity claims - Annuity Claim Documentation

In case of a Critical Illness Claim:

  • Original policy documentation
  • Critical illness claim form
  • The address and identity proof of the claimant
  • Past and latest medical records, including diagnostic test reports, hospital records, etc.
  • NEFT account details
  • For money back/pension and for maturity claims - Annuity Claim Documentation

HDFC Life Claim Settlement Ratio:

Total Premium in Crores (2016-17) Total Premium in Crores (2015-16) Total Premium in Crores (2014-15) Total Premium in Crores (2013-14) Claim Settlement Ratio (2016-17) Claim Settlement Ratio (2015-16) Claim Settlement Ratio (2014-15) Claim Settlement Ratio (2013-14)
19445.49 16312.98 14.829.9 12,062.9 97.62% 95.02% 90.50% 94.01%

Documents Required for Purchasing a HDFC Standard Life Insurance Policy:

Following are the documents you will require to purchase a life insurance policy from HDFC Life:

  • Identity proof
  • Address proof
  • Income proof
  • PAN Card
  • Self-attested bank passbook copy

How to Check HDFC Standard Life Insurance Policy Status Online:

To check the status of your HDFC Life insurance policy, all you have to do is visit the company’s official website and locate the Login option on the homepage. On the Login portal, you will find a link called Customer. Under this, you will have the links for individual policyholders, group members, and NRIs. Click the appropriate link and you will be requested to enter your Client ID, Email ID, or mobile number along with the password to login. You have the option to use an OTP as the password. Once you have logged in, you can view the status of your HDFC Life insurance policy on the screen.

HDFC Life Online Payment:

If you wish to make premium payments over the internet instead of going out to a branch of the company, you can do so by visiting the customer service section of the company’s official website and select the Pay Premium Online option after which you will be redirected to a new page. Here, you will have to enter the required details, i.e., your policy number and your date of birth. Then click on the Proceed option and select your payment mode, viz. credit card/debit card/net banking, etc., and make your premium payment. Your payment will then be complete.

HDFC Life Frequently Asked Questions:

  1. Can I avail pension benefit with my life insurance plan?

    Yes, HDFC Life Personal Pension Plus is an insurance plan which offers you pension after retirement. This plan is also eligible for bonuses as a percentage of sum assured on vesting, reversionary bonus, interim bonus, and terminal bonus.

    HDFC Life New Immediate Annuity plan is a non-linked traditional annuity plan. You get guaranteed income for as long as you and your partner lives.

  2. Are there any specific life insurance plans for women?

    HDFC Standard Life offers HDFC Life Smart Woman Plan which is a unit-linked insurance plan that covers you for pregnancy complications, malignant cancers of the female organs, and congenital conditions of your new-born baby. You can get a sum assured of up to 40 times the annual premium you pay.

  3. Is there any life insurance plan that enables me to save while I can enjoy life cover?

    HDFC Life ProGrowth Plus is a simple savings cum insurance plan that will let you enjoy life cover and benefit from creating your own investment strategies. This is a unit linked insurance plan and you can make the most of equities by channelizing your savings.

    The HDFC Life Super Income plan is a money back life insurance policy with limited pay option. You will receive reversionary and terminal bonuses and survival benefits under the policy. After the premium payment term, you can enjoy a regular income for 8 to 15 years.

  4. Is there any plan that lets me protect my family’s health and secure my life at the same time?

    Yes, you can get a comprehensive life and medical insurance plan. HDFC Life Click 2 Protect Health is a combi plan that provides you the benefits of health and life insurance under the same product. The plan has nine variants that you can choose from. You can select the policy term and premium payment term based on your needs. The insurer offers special discounts for female customers and non-tobacco users.

  5. Is there any specific plan for life threatening diseases?

    Yes, HDFC offers HDFC Life Cancer Care which provides financial protection for both early and major stage of cancer. The plan gives you a waiver on premium for the next 3 years on diagnosis of early cancer. An increased benefit is offered under the gold and platinum options where the sum insured increases by 10% every year.

  6. If I’m not satisfied with the plan can I return it?

    Yes, you get a 15 days free look period from the date of receipt of the policy within which you can return the policy.

  7. If I miss the premium payment, will my policy lapse?

    Yes, the policy will lapse if you miss making the premium payment but it can be renewed within 2 years from the date that the policy lapses. There are certain cases when you can turn the policy to a paid up policy, check the policy document to see if you have that option.

  8. What is the premium payment frequency for life insurance policies?

    The premium payment frequency will depend upon the kind of policy you select. However, most policies come with the standard annual, semi-annual, quarterly, and monthly premium payment frequencies.

  9. Can I cancel my policy after a while if I no longer want it?

    Yes, customers who wish to discontinue their policy can surrender the same to the company and a proportion of their investment will be returned to them.

HDFC Life Insurance

News About HDFC Life Insurance

  • HDFC Life Insurance is Now Available on Mobile

    HDFC Standard Life insurance has got on the bandwagon of offering their insurance products via a mobile application. With more customers opting for a seamless experience through mobile apps, HDFC Life has developed an app to help better cater to the needs and requirements of its customer base.

    Since the launch of the app, the number of proposals received has increased drastically. The insurance provider also anticipates a reduction in the conversion and turnaround time as a result of the reduction in the FRs and scrutiny.

    Apart from decreasing the manpower that usually required, there has also been an increase in the met ratio by 10%.

    13 December 2018

  • HDFC Life Insurance is Now Available on Mobile

    HDFC Standard Life insurance has got on the bandwagon of offering their insurance products via a mobile application. With more customers opting for a seamless experience through mobile apps, HDFC Life has developed an app to help better cater to the needs and requirements of its customer base.

    Since the launch of the app, the number of proposals received has increased drastically. The insurance provider also anticipates a reduction in the conversion and turnaround time as a result of the reduction in the FRs and scrutiny.

    Apart from decreasing the manpower that usually required, there has also been an increase in the met ratio by 10%.

    13 December 2018

  • HDFC ERGO’s acquisition of L&T General Insurance approved by CCI.

    The Competition Commission of India (CCI) has approved HDFC ERGO’s request to acquire L&T General Insurance, as per the announcement carried out in June. This acquisition amounts to Rs. 551 crores. According to the agreement, HDFC ERGO will be acquiring 100% equity shareholding of L&T General Insurance from Larsen & Toubro (L&T), which is the current shareholder. Both companies had drawn a share sale and a purchase agreement previously in June. The Competition Commission of India (CCI) communicated the approval for the acquisition through a tweet. M&A deals above a certain amount are required to get CCI’s approval.

    24 August 2016

  • HDFC Sells 9% Stake in HDFC Standard Life Insurance Company

    HDFC Bank recently completed selling 9% stake in its Standard Life Insurance Company to its British joint venture partner Standard Life for just more than Rs.1,700 crore. At a BSE filing, representatives of the bank revealed that HDFC is likely to sell almost 18 crore shares in the insurance joint venture and that the price of each share on offer will be Rs.95.

    11 April 2016

  • HDFC Life Records 45% Higher Quarterly Net Profit in December

    HDFC Standard Life Insurance Company has registered a quarterly net profit of Rs. 174 crore in December, up 45 percent from the corresponding period last year.

    In a filing to the BSE, HDFC Life said Rs. 1,264 crore was earned as premium from new business in the third quarter, 8 percent less than the Rs. 1,368 recorded in the same period last year. Premium from renewals stood at Rs. 2,316 crore, up 3 percent year-on-year from Rs. 2,254 crore. The total premium in the third quarter rose by 1 percent to Rs. 3,581 crore. Assets under management (AUM) stood at Rs. 71,575 crore in the quarter, 13 per cent higher than last year.

    25 January 2016

  • HDFC Standard Life’s FDI Proposal Inches Towards Approval

    HDFC Standard Life Insurance Company Limited’s proposal involving a Foreign Direct Investment plan of Rs. 1,705 crore has been recommended to the Cabinet Committee on Economic Affairs for approval by the Union government. A proposal by FireFly Networks Ltd. to begin functioning as a Telecom Infrastructure Provider Category-I and to approve the existing indirect foreign investment of 50 percent, has also been approved by the Centre.

    The Foreign Investment Promotion Board, which met on December 29, 2015, deferred the decision on four other FDI proposals. It rejected a proposal for fresh funding by Software is Correct Inc. in its Indian subsidiary.

    HDFC Standard Life seeks to increase its foreign share from 26 percent to 35 percent by transferring its shares from HDFC, to Standard Life (Mauritius Holdings) 2006 Ltd.

    20 January 2016

  • HDFC Life Insurance records Rs. 127 crore profit

    Housing Development Finance Corporation (HDFC) Ltd. has announced a dividend of Rs. 127 crore from HDFC Standard Life Insurance Company Limited for the quarter that ended December 31, 2015. Apart from this, the organization also earned Rs 57 crore as Profit on Sale of compared to Rs. 113 crore in the corresponding quarter in the previous year.

    HDFC also earned income from dividend for the quarter ended December 31, 2015 that amounted Rs. 135 crore compared to Rs. 103 crore in the corresponding quarter of the previous year. Under the loan assignment route, the corporation sold loans amounting to Rs. 1,240 crore in the quarter ending December 31, 2015 to HDFC Bank, in comparison to Rs. 1,234 crore during the corresponding quarter of 2014.

    4 January 2016

  • Standard Life to increase their stake in HDFC Life from 26% to 35%

    After the approval from the Foreign Investment Promotion Board, Standard Life is now all set to increase their stake in HDFC Life from 26% to 35%. The 9% increase will cost Standard Life a whopping Rs. 1, 705 crore, and will be buying 179 million equity shares of HDFC Life. After this deal HDFC Life will hold 65% and Standard Life will hold 35% of the entire company.

    2 January 2016

  • HDFC records 2% profit in insurance business

    India’s largest private sector bank reported an increase in its net profit for the quarter of September. The consolidated net profit was Rs. 2, 206.51 crore, due to the 2% rise. According to Keki Mistry, vice-chairman and chief executive of HDFC, the profit was boosted because of a strong life insurance business.

    The life insurance business witnessed a boost as its net profit increased from Rs. 183.74 crore to Rs. 215.34 crore. General insurance also saw a growth in profit from Rs. 36.27 crore to Rs. 60.53 crore. The company also recorded an overall 18% profit in its other subsidiaries.

    2 November 2015

  • Standard Life backs down on Right for Increased Stake in HDFC Standard Life

    The foreign promoter of HDFC Life Insurance, British insurer Standard Life, has reportedly given up its right to increase its stake in the Indian joint venture to 49 percent in the future. This is the result of a fresh agreement with its Indian partner HDFC.

    While a 9 percent increase in stake will still happen for Standard Life, the insurer will maintain its stake at 35 percent in the joint venture following HDFC Life’s public share offer next year. Since 2000, the British company had 26 percent stake in the joint venture but following the move by the government to allow 49% of ownership to foreign companies, Standard Life subsequently had tried to raise its stake.

    While an increase in stake by foreign companies is not the first in the insurance sector, the second largest private life insurer wishes to take things slow and steady with its partner overseas.

    24 August 2015

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

HDFC Life Insurance Reviews

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  • 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
    "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
  • HDFC Life Life Insurance
    "Good Benefits after tenure"
    0.5 4.0/5 "Great!"
    I am an existing customer I used to pay the premium around Rs. 25,000 per annum for the total tenure of 10 years. Then I get the benefits with the sum assured value and bonus of the premium and they do have life coverage and I am getting the tax benefits too.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 20, 2018
  • HDFC Life Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I hold a life insurance policy with HDFC LIFE from last 7 years and it is a long term policy. I make my premium payments on yearly basis through net banking and i am convenient with the payment options. The returns and benefits are good with this policy and tenure period is 10 years.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 20, 2018
  • HDFC Life Life Insurance
    "GOOD"
    0.5 3.0/5 "Satisfactory"
    I am not satisfied with the service of the HDFC LIFE where i have purchased the life insurance policy with this HDFC LIFE. I have started using it from past few years where the policy is very good. They give the fake promises for this policy....
    Was this review helpful? 2
    , bangalore
    Reviewed on Dec 15, 2018
  • HDFC Life Life Insurance
    "Fine policy for emergency purpose"
    0.5 5.0/5 "Blown Away!"
    Along with my personal loan they have provided me a life insurance policy from HDFC LIFE. I have to pay the premium amount of Rs. 6000 in a year. I used to pay the premium through online. Total tenure period of the policy is 4 years. I'm getting a sum assured amount of Rs. 3 lakhs.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Dec 13, 2018
  • HDFC Life Life Insurance
    "Every salary holder must taken this policy"
    0.5 4.0/5 "Great!"
    I have purchased the HDFC accidental policy nearly 4 years before. I have been paying the premium amount of Rs. 80000. I used to make the premium through my credit card and i covert into EMI basis. This is annual payment mode policy. This policy has coverage value of Rs. 15 lakhs and all my member covered in this policy
    Was this review helpful? 0
    , kolkata
    Reviewed on Dec 13, 2018
  • HDFC Life Life Insurance
    "Yet to experience the policy"
    0.5 4.0/5 "Great!"
    I have purchased a ULIP policy from HDFC Life. 4 months before i have taken this policy. I have been paying the premium amount of Rs. 2000 every month. The sum assured amount is 5 lakhs. This is a tax benefitable policy. Through Internet i have purchased this policy. I make the payment in online by using the debit card.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 11, 2018
  • HDFC Life Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I am having a life insurance policy with HDFC LIFE from last 9 years and it is a long term policy. I make my premium payment through online and on yearly basis. I am convenient with the payment options and tenure period for this policy is 15 years. I am happy with the returns and benefits on this policy.
    Was this review helpful? 0
    , kolkata
    Reviewed on Dec 11, 2018
  • HDFC Life Life Insurance
    "Good policy to take"
    0.5 5.0/5 "Blown Away!"
    Total tenure period of the policy is 10 years. I have to pay the premium amount for 7 years and 3 years will be lockin period. They have done a very good follow up on documentation and explained the policy details very well. They will call on the premium time. The amount will be auto debited from account. In a year, i have to pay the premium amount of Rs. 50000. 1 year back, i took this policy.
    Was this review helpful? 1
    , amravati
    Reviewed on Dec 11, 2018
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