• HDFC Life Term Insurance

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    HDFC Term Insurance plans, provide you with insurance options, to help secure your family’s needs in the case of your demise. Taking a term insurance for a specific period provides your family with financial stability as well. HDFC Life Insurance understands, that each individual is different and may require different plans, therefore they offer you with two different term plans to choose from.

    Types of HDFC Life Term Plans:

    1. HDFC Life CSC Suraksha Plan: This plan is designed to suit the people of the Common Services Centre, it is an initiative taken up by the insurer, to provide insurance even in rural sectors of the country. The low premium cost makes this an affordable plan. The insurer will provide a lump sum payment of the sum assured, to the policy holder’s nominee, in the case of the untimely demise of the policyholder.

    Features and Benefits:

    HDFC Life Click 2 Protect Plus -

    1. This is an online term plan, which can be purchased within the comfort of your home.

    2. The Click 2 Protect Plus Plan provides you with life cover at a very nominal and affordable cost.

    3. You can get the financial protection you want to provide for your family.

    4. You have the option to customize your plans. Choose from the below mentioned cover options:

      1. Life Option - provides your nominee a lump sum amount on death of the policyholder.

      2. Extra Life Option - if death is caused by an accident, the option will provide an additional payout.

      3. Income Option - the nominee will receive a part of the sum assured as a lump sum, and the remaining amount will be divided into monthly instalments to provide the nominee with an income, these instalments will be paid for a 15 year period.

      4. Income Plus Option - this option will provide a part of the sum assured as a lump sum to the nominee, and the remaining in instalments, as income for a 10 year period. The income will increase at a rate of 10% per annum on the policy anniversary each year.

    1. For every milestone in your life, you have the option to increase your insurance coverage.

    2. The policy will offer coverage up to the age of 75.

    3. Non-smokers enjoy attractive premium rates.

    4. The policy also offers tax benefits under section 80C of the Income Tax Act 1961.

    5. You can choose the premium payment mode you would like, wherein you can pay your premiums in either a single, limited or regular payment mode.

    6. You have to option to choose the policy term as well, you can choose the policy term you require within the range of 10 - 40 years.

    7. The plan is a pure term plan, hence there is no survival benefit.

    8. Riders can be added to the policy in order to customize the plan, these riders are - Accidental Death Benefit Rider and Life Stage Protection Rider.

    9. Surrender value - The surrender value is payable only if you choose the premium payment mode as a single pay option. Wherein, the surrender value will be calculated as per the below formula:

      1. Surrender value = 70% x premium (single) x (unexpired coverage term/original cover term), and the policy can be surrendered at any time.

    1. A period of 30 days will be provided as a free-look period, and if you don’t agree with any terms and conditions of the policy it can be cancelled.

    Eligibility conditions of this plan:

    Particulars

    Minimum

    Maximum

    Sum assured

    25 lakhs

    No limit

    Age of entry

    18 years

    65 years

    Maturity age

    28 years

    75 years

    Policy term

    10 years

    40 years

    Premium payments

    Single, Regular, Limited

    Premium payment modes

    Monthly, Quarterly, Half-yearly, Yearly

    How does this plan work?

    Let’s take an example for Ranesh, who is a 36 year old healthy non-smoker. He has chosen the policy for a sum assured of Rs. 25 lakhs, and a policy term of 20 years. He will make annual premium payment of an amount of Rs.4,994 per annum. After paying the 5 years premium Ranesh passes away. His nominee will get the benefits based on the chosen death benefit option.

    If he chose the Life Option - the policy will provide his nominee a lump sum amount on death, this amount will be the higher of, either 10 times the annualized premium, or 105% of all premiums till death, or the sum assured.

    If the option chosen is Extra Life Option - in addition to the above mentioned life option, and if death is caused by an accident, an additional payout will also be provided to his nominee.

    If Ranesh chose the Income Option - the nominee will receive 10% of sum assured as a lump sum payment. While the remaining 90% will be divided into monthly income, for you and your family, over a 15 year period.

    If the Income Plus Option was chosen - the death benefit will be paid in 100% to the nominee. In addition to this death benefit, the nominee will receive monthly instalments for a 10 year period, which will be 0.5% of the sum assured. This monthly income will increase at a rate of 10% per annum, each year on the policy anniversary.

    Key feature and benefits of the HDFC CSC Suraksha Plan -

    1. Freedom to choose the policy period from anywhere between 5 to 15 years.

    2. The premium payment term will be the same as the policy term.

    3. Sum assured can be a minimum amount of Rs.30,000 and a maximum sum assured of Rs.2 lakhs.

    4. Death Benefit - The death benefit will be either 10 times the annual premium, or 105% of all premiums paid until the time of death or the sum assured, whichever is higher.

    5. The policy offers a free-look period of 15 days, within which time you can cancel the policy, if you don’t agree with the terms and conditions.

    6. The premiums can be paid as per preferences of the policyholder, either in monthly, quarterly, half-yearly or yearly mode.

    7. There is no maturity or survival benefit for this policy, since it’s a pure term plan.

    8. Tax benefits will be provided under section 80C on the Income Tax Act 1961.

    How does this plan work?

    Preetham Hasta, a 30 year old farmer in rural Tamil Nadu, want to secure his family’s future in case anything happens to him in the future. He opts to take up the CSC Suraksha plan, and opts for a policy with a term of 5 years. The sum assured he’s chosen is an amount of Rs. 1 lakh. He makes yearly payments of Rs. 500 as premium payments. In an unfortunate event, Preetham dies in an accident after he has paid 3 annual premiums. While taking the policy he named his wife, Nidhi Hasta, the nominee for this policy. At the time of Preetham’s death, Nidhi will be paid a 105% of the total premiums he paid until his demise, or the sum assured or 10 times the annualized premium, whichever is higher.

    Eligibility conditions for this policy:

    Particulars

    Minimum

    Maximum

    Entry age

    18 years

    55 years

    Maturity age

    23 years

    60 years

    Sum assured

    Rs. 30,000

    Rs. 2,00,000

    Policy term

    5 years

    15 years

    Annual premium

    Rs. 112

    -

    Premium payment term

    same period as the policy term

    Premium payment modes

    Yearly, Half-yearly, Quarterly, and Monthly

    HDFC Term Insurance FAQs:

    1. Q. Are there any exclusions under the policy?

    1. Yes, in the case of suicide of the insured within 12 months of taking the policy, the nominee will receive only 80% of premiums paid.

    2. Q. What if I cannot make the payment of premiums on time?

    1. As per the HDFC Life Click 2 Protect Plus, there’s a grace period of 30 days to pay your premiums if the payment mode is quarterly, half-yearly or yearly. And a 15 day period for monthly premium payments. Once the grace period is over to make payments, the policy will lapse upon non-payment.

      As for the HDFC CSC Suraksha Plan - grace period of 30 days will be provided to the policyholder to ensure premium payments are made.

    3. Q.Is there a surrender benefit for these plans?

    1. For the HDFC CSC Suraksha Plan, there isn’t any surrender benefit.

      For the HDFC Life Click 2 Protect Plus, can be surrendered at any time. This again will depend on the premium mode chosen. If you choose a single premium payment - 70% x single premium x (unexpired coverage term/original cover term). Regular premium payment - no surrender value. Limited premium payment - no surrender value.

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

    HDFC Life Term Insurance Reviews

  • Page 1 of 9 1 2 3 4 5
    • HDFC Life Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have a term insurance from Hdfc,the service is good with Hdfc. The benefits is single benefit. Hdfc staffs are friendly in approach. The payments are through online. The documents procedure was been smooth. It was totally a good experience with Hdfc life insurance service.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 03, 2018
    • HDFC Life Life Insurance
      "Best insurance policy"
      0.5 5.0/5 "Blown Away!"
      I have taken Term Insurance with HDFC Life.Th premium amount is 11,000,its been two years since i have this policy,this policy is for 40 years i get policy coverage amount of one crore in case of accident.Net banking is good and efficient to use.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 23, 2018
    • HDFC Life Life Insurance
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      HDFC customer care very well explained about the life insurance terms and condition. HDFC Life is also good, I make Rs.6000 as a premium it has the tenure of one year. Its a term insurance plan, it gives life cover around Rs. 3 lakhs it includes critical illness and disability.
      Was this review helpful? 0
      , pune
      Reviewed on Dec 21, 2017
    • HDFC Life Life Insurance
      "Good policy to use"
      0.5 4.5/5 "Excellent!"
      I hold a life insurance policy with HDFC LIFE from last 1 year and it is a term insurance policy. This policy has to be renewed every year. I pay a premium of Rs 644 on monthly basis through online and i am also convenient with the payment options. I am also satisfied with the coverage and benefits of this life insurance policy.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 27, 2017
    • HDFC Life Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken a life insurance with HDFC LIFE. its a term insurance. The yearly premium is 70000. After 5 years they will provide some amount. The policy is a benefited one. Online payment facility is available. Good policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 25, 2017
    • HDFC Life Life Insurance
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      I make the premium around Rs. 20,000 on yearly basis through online. I have term insurance with HDFC Life, it has the tenure of 20 years. Its gives life cover till the age of of 65, the life cover value would be Rs.50 lakhs, their claim settle ratio is also fine.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 10, 2017
    • HDFC Life Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My HDFC click to invest Life Insurance was taken 3 years back. Its a short term plan and the tenure period is 5 years .Its a tax benefit and premium paid on half yearly basis. Here there are no charges for fund transferring and partial withdrawal also. My overall experience was excellent so I would like to recommend also.
      Was this review helpful? 0
      , greater noida
      Reviewed on Nov 09, 2017
    • HDFC Life Life Insurance
      "Good policy to use"
      0.5 4.5/5 "Excellent!"
      I am holding HDFC Life insurance from last 2-3 years and it is a term plan. The tenure of this policy is 15 years. I pay my premium on annual basis through online. The customer service and their response was very good. Benefits are also good in this policy.
      Was this review helpful? 0
      , gwalior
      Reviewed on Nov 04, 2017
    • HDFC Life Life Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have taken a term insurance from HDFC Life. They are very good in services. They send me updates on the policy and also reminders for the payments. The premiums are economical and it is easy to pay it online. This policy had good benefits at the time when I purchased it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 16, 2017
    • HDFC Life Life Insurance
      "Good experience"
      0.5 4.0/5 "Great!"
      My Life Insurance was taken with HDFC bank . Its a term plan and the tenure period was 60 years The policy coverage is 50 lakhs and premium paid on early basis. I pay through online and Its very convenient also. Its not a corporate Insurance and I do get tax benefit also. My overall experience was good
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Oct 10, 2017
    • HDFC Life Life Insurance
      "Average"
      0.5 4.0/5 "Great!"
      I am having the term life insurance policy with the HDFC life insurance company and its provided by my organization, also the coverage value is up to 25 lakh Rupees for the life , also am really not much aware of it.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 07, 2017
    • HDFC Life Life Insurance
      "Satisfied"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the HDFC life and its the term plan. I would like to say that the coverage value is around 75 lakh Rupees and its okay as of now. Response is good one with the HDFC life insurance company.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2017
    • HDFC Life Life Insurance
      "Its good protection for family"
      0.5 5.0/5 "Blown Away!"
      I have term insurance with HDFC Life called 3D protect, I generally pay Rs. 31,000 per annum, it has tenure of 34 years. Its purely death risk policy, they are giving good benefits for accidental death double the amount, disability and critical illness covered and waiver of premium. After me, my family will get the reimbursement around Rs. 25 lakhs and other benefits.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 08, 2017
    • HDFC Life Life Insurance
      "Satisfied with the services"
      0.5 5.0/5 "Blown Away!"
      As a existing customer and a ex employee of HDFC Bank. I was also given a good benefit on the Term insurance from HDFC Life. The process to get the policy was simple as it was only. The term is for 60 years and the premiums are economical. The payment options are very much convenient.
      Was this review helpful? 0
      , bhiwadi
      Reviewed on Aug 05, 2017
    • HDFC Life Life Insurance
      "Average"
      0.5 3.0/5 "Satisfactory"
      With the HDFC life insurance company, I do have term life insurance policy and the premium is around 20000 Rupees per annum Coverage value not sure how much it is response is good with them till now and I have not faced any drawbacks with them I have not faced any issues till now with them
      Was this review helpful? 0
      , vapi
      Reviewed on Jul 04, 2017
    • HDFC Life Life Insurance
      "Best"
      0.5 4.0/5 "Great!"
      I do have term life insurance policy with the HDFC life insurance company. Everything was done by online service and the coverage value was around 50 lakh Rupees and the premium is around 14000 Rupees. Regular alerts are fine one with them, also they are flexible with the customer.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 22, 2017
    • HDFC Life Life Insurance
      "Good protection for the family"
      0.5 5.0/5 "Blown Away!"
      I took Term insurance from HDFC Life, I am making the half yearly premium of Rs.4500, if its annual Rs.9000. I should make the payment for forty years. After that I wont get any return but my nominees will get the reimbursement Rs.40 lakhs, if some thing happened to me.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 19, 2017
    • HDFC Life Life Insurance
      "Good for family"
      0.5 4.0/5 "Great!"
      I have taken Life Term insurance with HDFC Life, yearly I make the premium of Rs.8750. I should make the premium upto 20 years, its completely pure insurance called death risk policy, I won't get any return my dependent will get the claim of Rs.50 lakhs in one slot. HDFC Life claim settlement ratio is good.
      Was this review helpful? 0
      , nagpur
      Reviewed on Jun 16, 2017
    • HDFC Life Life Insurance
      "Average "
      0.5 2.0/5 "Expected more"
      I have term life insurance policy with the HDFC life and their services are okay for this. This insurance , I have taken against the loan. Coverage value is up to 9 lakh Rupees to 10 lakh Rupees. There is no communication from them rather than the regular notice for paying of premium.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 18, 2017
    • HDFC Life Life Insurance
      "Secure your life"
      0.5 4.5/5 "Excellent!"
      With the HDFC life insurance company, I do have term life insurance policy and the premium is around 18000 Rupees per annum . Coverage value is around one crore Rupees and the response is good with them till now and I have not faced any drawbacks with them. It come with two riders like it covers critical illness and accidental illness.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Mar 20, 2017
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