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HDFC Life New Group Linked

 4.0 / 5.0   by 1168 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

Responsiveness

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

HDFC Life New Group Linked Plan Reviews

Page 1 of 50 1 2 3 4 5
  • 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
  • HDFC Life Life Insurance
    "Good insurance policy"
    0.5 5.0/5 "Blown Away!"
    My life insurance policy was taken with HDFC Life. Total tenure period of the policy is 8 years. I pay the premium amount of Rs. 40000 and i have selected the annual payment mode. I make the premium through cheque mode. Overall, I'm satisfied with this policy.
    Was this review helpful? 0
    , vellore
    Reviewed on Dec 04, 2018
  • HDFC Life Life Insurance
    "Recommendable policy"
    0.5 5.0/5 "Blown Away!"
    I have bought the HDFC LIFE insurance policy 3 years before. I'm making the payment amount of Rs. 28000 every year. I have no idea about the sum assured amount and policy benefits. This is a tenure period 10 years. I make the premium amount through cheque.
    Was this review helpful? 0
    , vellore
    Reviewed on Dec 04, 2018
  • HDFC Life Life Insurance
    "Recommendale policy"
    0.5 5.0/5 "Blown Away!"
    I have paid Rs. 6000 extra for my insurance policy in HDFC LIFE through cheque. I have received the notification regarding the payment and repayment immediately. I'm happy about the payment mode because i can pay according to all kind of mode.
    Was this review helpful? 0
    , vellore
    Reviewed on Dec 04, 2018
  • HDFC Life Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    My money back policy was purchased above 7 years ago. I have chosen the HDFC LIFE because its recommended by the agent. I have chosen the annual payment mode with the amount of Rs. 40000. I make the premium by online ECS mode. This is tax benefit policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 03, 2018
  • HDFC Life Life Insurance
    "Good policy to use"
    0.5 4.0/5 "Great!"
    When i purchase my HDFC credit card, they have offered me a life insurance for an offer. I have received the sum assured amount of Rs. 4 lakhs and my nominee will get that amount after my death. I have chosen the monthly payment mode. This is a 1 year policy and i have to renew it after that. Every month i have to pay the premium of Rs. 300 for first 3 months.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 02, 2018
  • HDFC Life Life Insurance
    "Policy features should be improved"
    0.5 2.0/5 "Expected more"
    The policies are not upto the mark, I took SAP life policy, I make the premium of Rs. 24,000 for the tenure of 10 years, there is no much benefits in the life policy. But it has some assured benefits 5 to 6% of benefits, the payment gateway is very fine.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 01, 2018
  • HDFC Life Life Insurance
    "Best investment"
    0.5 3.5/5 "Pretty good"
    I do have multiple life insurance policy with HDFC Life. One of my relative is working there and more over the maturity term is less like 10 years. Am happy with the policy coverage and the plan benefits. The payment is flexible and its has multiple options. Every year I used to pay 1L as a premium.
    Was this review helpful? 1
    , bangalore
    Reviewed on Nov 30, 2018
  • HDFC Life Life Insurance
    "Good Protection for Family"
    0.5 5.0/5 "Blown Away!"
    I took term plan for the amount of Rs. 25 lakhs, I have done the payment of Rs. 5700. Payment option is good, life cover is very good, I can avail during emergency purpose, even it has the accidental and death policy. I have added wife and Children as nominees.
    Was this review helpful? 0
    , jaipur
    Reviewed on Nov 30, 2018
  • HDFC Life Life Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    I have a life insurance policy with HDFC LIFE from last 1 year and it is a long term policy. I pay my premium once in a year through online and i am convenient with the payment options. Tenure period for this policy is 12 years and this policy has good returns.
    Was this review helpful? 0
    , chennai
    Reviewed on Nov 29, 2018
  • HDFC Life Life Insurance
    "Very Good Service"
    0.5 4.0/5 "Great!"
    It has been a very good policy and i had been paying the premium on a monthly basis. The premium amount has bee fine and has not been not too high. The payment method is easy and has been doing online and there has not been any hassle faced so far with their service.
    Was this review helpful? 0
    , new delhi
    Reviewed on Nov 28, 2018
  • HDFC Life Life Insurance
    "Best service"
    0.5 5.0/5 "Blown Away!"
    I have been using life insurance with HDFC ltd , and the premium they use to charge me is up to 20 thousand in a year and it nominal and it use to get auto debited from my salary account and they had explained me all the policy clearly.
    Was this review helpful? 0
    , mumbai
    Reviewed on Nov 21, 2018
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using the HDFC Life Insurance policy for a while. they charge nominal premium for this policy it also offers accidental benefits and I make payment at the branches. 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
    , new delhi
    Reviewed on Nov 16, 2018
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been my using my life insurance with HDFC ltd, the policy is covered up to 10 lakh rupees , and they premium which they have charge is nominal and i use to pay through on line only and there agent had explain me about policy and term and condition clearly.
    Was this review helpful? 0
    , noida
    Reviewed on Nov 16, 2018
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my life insurance with HDFC Life, there service is good they have charged premium up to 9000 rupees per year, it use to get auto debited from my account and there customer service is good they explained me about all policy it cover in this life insurance.
    Was this review helpful? 0
    , secunderabad
    Reviewed on Nov 15, 2018
  • HDFC Life Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy a long time back and the process was done online. I had been making the payments on a monthly basis and the premium amount of 1000 has been good. The premium method also has been good and there has not been any hassle faced with them so far.
    Was this review helpful? 0
    , gandhidham
    Reviewed on Nov 14, 2018
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