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HDFC Life Insurance for Senior Citizens

Majority of the people put their health on a backburner to go after wealth but after the onset of old age the same wealth is used to take care of health. This ironic circle plagues a majority of the population and one sure shot way of reducing the money spent and the stress levels involved is to settle on a comprehensive health and life insurance plan.

A person is considered to be a senior citizen by and large after attaining the age of 60 years. Most companies set the limit for retirement starting from the age of 60. Even though there are a multitude of insurance policies and investment plans available in the market, when one considers the age limit set on these, only a handful of these policies allow policyholders above the age of 60 to enter. Even then, there are issues such as higher premiums or long procedures involved such as extensive medical tests prior to issuing the policy. HDFC Life offers a range of plans that meet the needs of senior citizens and serve many purposes. One of the biggest concerns for senior citizens is securing income post retirement. Upon retirement, the cost of living goes up every passing year and with no income coming in, senior citizens will find it hard to keep up with the costs. Many plans offered by HDFC allows policyholders to build a corpus and secure future income.

Types of plans offered by HDFC Life for senior citizens:

  1. Protection plans: This category provides term insurance plans that allow senior citizens to secure any outstanding financial commitments and prevent them from becoming a liability and burden to their family. The term insurance plans have an age limit of 65 years as the maximum permissible age and reaches maturity when the policyholder attains 75 years of age. Such plans not only offer freedom for the family from financial burdens such as home loans being passed down but also offer the policyholder’s family with a range of benefits such as death benefit in the form of a lump sum and also has provisions for providing regular income to the beneficiary upon the death of the policyholder by paying the death benefit in part as a lump sum and in part as a monthly income for a specified period of time.

    The main plan under protection plans is the HDFC Life Click 2 Protect Plus plan which has a minimum assured sum of RS 25,00,000 and death benefits paid out as lump sums or part lump sum part regular monthly income.

  2. Retirement Plans: The end of regular income does not mean the end of expenses incurred. In today’s world, the medical costs and the cost of living is ever increasing and retirement can make one exponentially feel the pinch of increasing costs. In such cases it is imperative that senior policyholders secure an income post retirement so that they can continue enjoying their lifestyle. Retirement plans provide two main benefits. One is that they help build a corpus that secures post retirement income and two, they provide death benefits which help financially secure the policyholder's’ family. Some of these retirement plans are unit linked insurance plans that invest the premiums paid in a variety of funds that generate varying levels of profit but also have proportionate levels of risk. High profit generating funds also have a high risk exposure. Upon the policy reaching maturity, many of these plans offer the maturity benefit in the form of annuity. The main retirement plans offered by HDFC are as follows:
    • HDFC Life Personal Pension Plus
    • HDFC Life Click 2 Retire – ULIP
    • HDFC Life Assured Pension Plan– ULIP
    • HDFC Life Pension Super Plus
    • HDFC Life Single Premium Pension Super Plan
    • HDFC Life Guaranteed Pension Plan
    • HDFC Life New Immediate Annuity Plan
  3. Savings and retirement plans: similar to the retirement plans, the below savings and retirement plans also offer benefit of providing a financially secure future for the policyholder’s family in case of death of the policyholder family in case of death of the policyholder and building a corpus for post-retirement income. Some of these plans invest premiums into funds and generate a corpus. The plans mentioned below all have entry limit of 65 years with a few plans offering entry at even 75 years of age. The main savings and retirement plans are as follows:
    • HDFC Life Click2Invest – ULIP
    • HDFC Life Super Savings Plan
    • HDFC Life ProGrowth Plus
    • HDFC SL ProGrowth Super II
    • HDFC SL ProGrowth Flexi
    • HDFC Life Invest Wise Plan
    • HDFC Life Uday
    • HDFC SL ProGrowth Maximiser
  4. Health Plans: With the onset of old age comes ever increasing health risks. Common cold stay longer, fevers run higher, bones are more brittle and blood pressure can skyrocket or plummet with the drop of a hat not to mention the ever looming threat of blood sugar fluctuations. HDFC offers health plans for senior citizens in their battle against ever increasing medical expenses. These policies equip the seniors with financial security to meet the many expenses they may come across. Each health plan by HDFC offers flexibility in the form of plan options that are designed to meet the requirements of the policyholder. While one plan covers a range of medical expenses such as hospitalization and inpatient charges the other plan is designed specifically to deal with the expenses related with the onset of cancer. The HDFC health plans offer a range of benefits which include a high assured sum in case of diagnosis of cancer, reimbursement for a host of expenses such as hospital room charges, ICU charges, charges arising out of day care procedures, ambulance charges, costs of artificial limbs, expenses incurred through pregnancy and its related complications. One of the plans also increase the sum assured if no claims have been made for a particular year. The main heat plans offered by HDFC are as follows:
    • HDFC Life Cancer Care
    • HDFC Life Health Assure Plan

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

Life Insurance Reviews

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  • 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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