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HDFC Life New Group Linked

Overview

The HDFC New Group linked plan is a plan that enables employers to carry out fiduciary responsibilities in a transparent and efficient manner. The HDFC Life plan allows employers to give the employees the recognition they deserve through employee benefit schemes thereby retaining and motivating the workforce and increasing overall productivity.

Eligibility of HDFC Life New Group Linked Plan

Criteria

Minimum

Maximum

Premium

Each policy has a minimum premium of RS 5,00,000

Nil

Group size

Minimum 10 members

Nil

Age of entry

As per rules of the scheme and the trust deeds

 

The policy has an indefinite term and can be renewed each year.

Features of HDFC Life New Group Linked Plan

  1. The plan is a unit linked insurance plan.
  2. The plan is of a group basis.
  3. The benefits such as leave encashment and gratuity are to be paid by the master policyholder or employer and is not borne by the insurer.
  4. The plan offers a range of investment funds with varying degrees of risk exposure and return ratings.
  5. The policyholder has the option of switching and offers 12 free switches every year to change the proportion and mix of funds invested.
  6. The policy provides for liquidity by allowing smaller investments to be made.
  7. The plan provides flexibility in payment of premiums.
  8. The policy provides for claw back additions. These additions begin from the 5th policy year onwards and are added at the end of every year. Along with net yield and gross yield, the reduction in yields on actual returns is calculated and if these reductions are greater than stipulated by the regulations, claw back additions are made to the fund to comply to the stipulated yield requirements.
  9. The plan offers income tax benefits to both the employer and the employee under the applicable tax laws.
  10. The policy covers the event of death and members exiting the scheme.
  11. The policy offers large fund discounts for any premium grater or equal to RS 1 crore.
  12. The free look period of the policy is 15 days.

Benefits of HDFC Life New Group Linked Plan

  1. Maturity benefit: this policy does not have a maturity date and the policy will go on for as long as it is not terminated by either parties.
  2. Benefits paid when a member exits the scheme: In the event a member exits a scheme, the policyholder will request for the amount to be paid to the beneficiary. This amount will be drawn from the policy fund to make the payment available and the maximum amount payable is equal to the value of the policy fund.
  3. Large fund discount: for those policies with a minimum sum assured greater or equal to RS 1 crore an amount equal to 0.25% p.a on the policy's fund will be added to the policy. This discount is 0.45% if the premium is greater or equal to RS 2 Crores, 0.55% if the premium is greater or equal to RS 5 Crores , 0.65% if the premium is greater or equal to RS 10 Crores and 0.70% if the premium is greater or equal to RS 15 Crores.
  4. Death benefit: In the unfortunate event of a death of an eligible member, along with the amount paid from the unit linked fund, an additional RS 1000 will be paid to the policyholder.

Investments

Below table discusses the choice of investment funds offered by HDFC Life New Group Linked Plan

Fund name

Assets

Composition

Risk and Return

Liquid Fund II

Money market Instruments

100.00%

Very Low

 

Government securities and bonds

   

Defensive managed Fund II

Money market Instruments

0 to 20%

Moderate

 

Equity

50 to 85%

 
 

Government securities and bonds

15 to 30%

 

Balanced managed Fund II

Money market Instruments

0 to 20%

High

 

Equity

30 to 60%

 
 

Government securities and bonds

20 to 70%

 

Equity managed Fund II

Money market Instruments

0 to 15%

Very High

 

Equity

60 to 100%

 
 

Government securities and bonds

0 to 40%

 

Secure Managed Fund II

Money market Instruments

0 to 25%

Low

 

Government securities and bonds

75 to 100%

 

Growth Fund II

Money market Instruments

0 to 10%

Very High

 

Equity

90 to 100%

 

Charges

Below are the charges levied in this policy

Charge

Description

Fund Management Charge

This is a daily charge and is calculated as 1.25% of the funds value.

Mortality Charge

This charge is not inclusive of service tax and education cess and is calculated as Re 1 for every RS 1000

Premium Allocation Charge

This charge is deducted from the premium and the remainder is invested. The premium allocation charge is 2% if the policy is sourced through an intermediary.

Surrender Charge

Applicable if policy is withdrawn before the third anniversary of the policy. It is 0.05% of the policy fund and is subject to a maximum of RS 5,00,000

 

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

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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

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HDFC Life New Group Linked Plan Reviews

Page 1 of 50 1 2 3 4 5
  • HDFC Life Life Insurance
    "Satisfactory policy"
    0.5 4.0/5 "Great!"
    I have taken the life insurance of 30L which has addon benefits of critical illness and accidental. I have chosen HDFC LIFE after doing online comparison because the premium is less and the tenure is 15 years but I need to pay only for 10 years and remaining 5 years will be paid by the insurer. The policy was started 3 months back with the monthly premium of 1600 rupees. The customer service is good.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 22, 2019
  • HDFC Life Life Insurance
    "Double benefit plan"
    0.5 5.0/5 "Blown Away!"
    I have ULIP it has the locking period of five years, I used to make the premium around Rs. 1 lakh, it get matured after 23 years. I have been with them around three years , they do have tax saving, financial security feature. I have activated ecs for making the payment.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Apr 20, 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 selected Rs. 1 crore. Yearly I pay Rs.29,000 to the insurer it has the duration of 25 years. They will be providing the lump sum amount to the nominees and second thing they give Rs.50,000 on monthly basis. They disclosed all the terms and condition to me.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Apr 20, 2019
  • HDFC Life Life Insurance
    "Good Insurance company"
    0.5 5.0/5 "Blown Away!"
    I took term plan from HDFC Life, by paying the premium Rs. 16,000 on yearly basis it has sum assured of Rs . 50 lakhs. The lump sum amount paid to the nominee in certain demise, I make the payment through ecs. There is a critical illness cover along with waiver option.
    Was this review helpful? 0
    , kadapa
    Reviewed on Apr 20, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am having the life insurance policy with the HDFC LIFE and holding it around from last 10 years. The documentation process was simple and good. The maturity period of this policy is for long term and the coverage is for family. The premium paying for yearly once.
    Was this review helpful? 0
    , indore
    Reviewed on Apr 19, 2019
  • HDFC Life Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had taken the Term Insurance Policy from them a long time back and the premium had been paying on an annual basis. The premium amount has not been high and the payment method is also high. The policy coverage and the plan benefits with the policy is also pretty good.
    Was this review helpful? 0
    , new delhi
    Reviewed on Apr 17, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I am using from last 8 months the life insurance policy with the HDFC LIFE and the premium i pay for monthly once through the credit card. The policy coverage is for family and self. The maturity is for 3 years with this insurance policy. The customer service is good.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 17, 2019
  • HDFC Life Life Insurance
    "Good for family protection"
    0.5 5.0/5 "Blown Away!"
    I took personal accidental policy from HDFC Life based on the credit card, last time I paid the premium around Rs. 7000 for 25 lakhs of sum assured its a pure term plan. They give the critical illness if some thing happens to me, they give weekly Rs. 5000 for the treatment. For any certain demise my nominee will be getting the lump sum amount. They took premium from the credit card and converted into emi.
    Was this review helpful? 0
    , chennai
    Reviewed on Apr 17, 2019
  • HDFC Life Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I am having the life insurance policy with the HDFC LIFE the premium for this policy paying for monthly once added on that there are no issues with this insurance policy. The maturity period of this policy is for long term, the documentation process was smooth.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 15, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have purchased the ACCIDENTAL POLICY with the HDFC LIFE where i have been using it since from last 2 years and above. The premium paying was approximately 8k, they provide the coverage upto 20L with this policy. If admitted in hospital can claim for accidents.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 12, 2019
  • HDFC Life Life Insurance
    "All types of risk covered "
    0.5 5.0/5 "Blown Away!"
    This HDFC plan covers all types of risk protection in the future . On annual basis , I need to pay an amount of Rs 3000 /- for next 10 years . So that , I will get an amount of Rs 5 lakh in return . It isa two in one policy .Where I can use it for tax exemption also .
    Was this review helpful? 0
    , secunderabad
    Reviewed on Apr 08, 2019
  • HDFC Life Life Insurance
    "Good Risk protection cover"
    0.5 5.0/5 "Blown Away!"
    Once upon a time in 2012 , HDFC offered me a Impressive offer in life protection policy . I can pay one time payment of Rs 1 lakh 25 thousand for a sum assured of 1 crore . It is completely going to secure my life during risk events like Road accidental death , fire accident .
    Was this review helpful? 0
    , secunderabad
    Reviewed on Apr 04, 2019
  • HDFC Life Life Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    I have taken super plus saving plan from HDFC LIFE and need to pay premium yearly 52K for 8 years, The benefits are good and one person has referred this policy to me. The customer service is not upto the mark and they need to improve on. After maturity will be getting good amount.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 03, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have been using the life insurance policy with the HDFC LIFE since from last few months and i got this insurance because i have taken the loan. It has the short term policy of 20 years and the policy coverage is for self with this insurance policy.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 01, 2019
  • HDFC Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    HDFC LIFE is the life insurance provider where i have taken the EULIP policy and the maturity period is this policy is for 20 years and i am using it since from last one year. Premium i am 12K yearly once and the policy coverage is for self with this policy.
    Was this review helpful? 0
    , pune
    Reviewed on Apr 01, 2019
  • HDFC Life Life Insurance
    "Safe and secured investment"
    0.5 4.0/5 "Great!"
    I have different plans with HDFC life called guaranteer plan it has good life coverage and tax benefits. The premium is very reasonable, but it doesn't have the critical illness benefits, the people are friendly I used to get the reminder about the premium.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 30, 2019
  • HDFC Life Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    My colleague works in HDFC Life so he guided me to take the policy even I work for Apollo Munich Health insurance. I did not research about the benefits, Its a short term and long term policy. Am paying premium was around 50K per annum through online. They send a executive if I have any query.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Mar 28, 2019
  • HDFC Life Life Insurance
    "Not satisfied"
    0.5 2.0/5 "Expected more"
    I had been applied life insurance with HDFC life recently for my wife,but i did not found comfortable in getting this process,like they use to ask all unnecessary documents which i did not found relevant,and the premium amount they was charging me on monthly basis,now i withdraw all my amount and closed this account.
    Was this review helpful? 0
    , malappuram
    Reviewed on Mar 27, 2019
  • HDFC Life Life Insurance
    "Good for nominees"
    0.5 5.0/5 "Blown Away!"
    I have term plan for Rs. 50 lakhs from HDFC Ergo, I am paying the premium around Rs. 7000 per annum. I need to pay upto 60 years, total life cover upto 80 years. Then nominees will get lump sum amount for certain demise. The customer support is great, I used to pay through online.
    Was this review helpful? 0
    , kolkata
    Reviewed on Mar 25, 2019
  • HDFC Life Life Insurance
    "Good risk & protections coverage "
    0.5 5.0/5 "Blown Away!"
    For my HDFC personal loan , they insisted me to do a life cover by taking Term policy for my life security . HDFC given me a Sum Assured of 16 lakh for 4 years . It is one time payment of around 4 k . It is going to cover all types of risk benefits for the policy holder .
    Was this review helpful? 1
    , bangalore
    Reviewed on Mar 18, 2019
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