HDFC Life insurance is one of India’s leading term insurance providers. It offers a wide range of individual and group term insurance products that meet various life stage needs of individuals.

HDFC Life Insurance Overview:

HDFC Standard Life Insurance Company Limited is a joint venture between one of India’s leading housing finance institution, HDFC Ltd. and a global investment company, Standard Life Aberdeen.

HDFC Life was established in 2000 and is a leading life insurance solutions provider in India. The company offers a range of individual and group insurance products. The Company had 34 individual & 11 group insurance products in its portfolio as on June 30’2018. The company also offers additional 8 rider benefits (optional), that cater to a diverse range of customer needs.

HDFC Life Insurance Company continues to benefit from its increased presence pan India. The company has a wide reach across the country with 413 branches and additional distribution centres. Several new tie-ups & partnerships have been introduced in the HDFC Life’s business line.

HDFC Term Insurance Plans:

Plan NameEntry Age (Min – Max)Policy Term (Min – Max)Maturity Age (Min – Max)Sum Assured (Min – Max)
HDFC Life Click 2 Protect 3D Plus18 – 65 years5 – 50 years23 – 85 yearsRs. 10,00,000 – Rs 1 Crore
HDFC Life Click 2 Protect Plus18 – 65 years10 – 40 years28 – 75 yearsRs. 25 lakhs – No lImit

 HDFC Life Click 2 Protect 3D Plus (*NEW Plan)

With HDFC Life Click 2 Protect 3D Plus, you get to customize your online plan with 9 plan Options

HDFC Life Click 2 Protect 3D Plus Option NameEntry Age (Min – Max)Policy Term (Min – Max)Maturity Age (Min – Max)Sum Assured (Min – Max)
Life Option18 – 65 years5 – 50 years23 – 85 yearsRs. 10,00,000 – Rs 1 Crore
Extra Life Option18 – 65 years5 – 50 years23 – 85 yearsRs. 10,00,000 – Rs 1 Crore
Income Option18 – 65 years5 – 50 years23 – 85 yearsRs. 10,00,000 – Rs 1 Crore
Extra Life Income Option18 – 65 years5 – 50 years23 – 85 yearsRs. 10,00,000 – Rs 1 Crore
3D Life Option18 – 65 years5 – 40 years23 – 75 yearsRs. 10,00,000 – Rs 1 Crore
Income Replacement Option18 – 65 years5 – 40 years23 – 75 yearsRs. 10,00,000 – Rs 1 Crore
Return of Premium Option18 – 65 years5 – 40 years23 – 75 yearsRs. 10,00,000 – Rs 1 Crore
Life Long Protection Option25 – 65 yearsWhole of LifeWhole of LifeRs. 10,00,000 – Rs 1 Crore
3D Life Long Protection Option25 – 65 yearsWhole of LifeWhole of LifeRs. 10,00,000 – Rs 1 Crore

HDFC Life Click 2 Protect 3D Plus

HDFC Life Click 2 Protect 3D Plus gives an option to the policyholders to customize their plan as per their own choice with the cover they want to take. There are 9 options from which a life assured could choose for the protection of self and their loved ones.

HDFC Life Click 2 Protect 3D Plus – Life Option

In this option of HDFC term insurance, the life assured will get the basic security of life and relief with the premium waiver. This will be best for those who want to have the traditional kind of term plan.

  • The insurance holders will get to secure their families in case of their unfortunate death as their nominee will get the sum assured.
  • Premium waiver on Accidental Total Permanent Disability.
  • Sum assured to the life assured on diagnosis of terminal illness.

Death Benefit 

In this plan, the nominee will get the lump sum benefit of the sum assured on the death of the policyholder or on a diagnosis of the terminal illness. In case, the life assured meets with an accident and had total permanent disability, her/his premium would be waived off. In case the nominee dies after the accident, the HDFC term insurance policy will be ceased after making the full payment of the assured.

HDFC Life Click 2 Protect 3D Plus – Extra Life Option

This secure the life assured with sudden mishappening when nothing is planned with all the benefits that are there in a normal term plan with relief on waiver of premium on accident and terminal illness.

  • All the benefits will be the same as that in the Life option.
  • Extra amount will be paid to the nominee in case the life assured meets with an accident. So, the amount chosen as extra sum assured for the accident will be paid to the rider.

Death Benefit

In case the life assured suffers from a mishappening, the sum assured will be given to her or his nominee. In case that mishappening occurred due to an accident then an extra cover will be provided to the nominee. If the life assured suffers from a terminal illness, all the premium will be waived off for the future. On diagnosis of terminal illness, an amount will be paid to the life assured.

HDFC Life Click 2 Protect 3D Plus – Income Option

If the insurance holders want to secure their families with a certain amount in case of any mishappening and also want to provide a source of regular income, so they do not have to face financial crunch once the policyholder (breadwinner of the family) is not around anymore, this option is best for them.

  • Sum assured on death
  • Monthly income as per chosen income period.
  • Waiver of a premium on accidental total permanent disability 

Death Benefit

In case, the policyholder meets with an unfortunate event, the nominee will get the sum assured along with an amount on monthly basis for a certain time period as decided by the

Monthly Income

  • The monthly income will keep on increasing at a certain rate decided by the company from time to time. Currently, its 9 per cent per annul which will be effective from 25th February or 25th August every year.
  • It will be reviewed half yearly but will be paid on yearly basis.
  • Increase in monthly income will start from the second year of the income period.
  • On the death of the life assured, the monthly income will continue.
  • It will be paid for all the income period till the policy term had ended.

HDFC Life Click 2 Protect 3D Plus – Extra Life Income Option

The life assured can secure their families with sum assured as well as monthly income. With this, they can secure their families against sudden mishappenings occurred, such as accidents.

  • All the benefits will be the same as that in the Income option.
  • Extra amount will be paid to the nominee in case the life assured meets with an accident. So, the amount chosen as extra sum assured for the accident will be paid to the HDFC term insurance rider.

Death Benefit

If the life assured dies, the nominee will get the sum assured and the monthly income or on the diagnosis of the terminal illness the amount will be paid to the life assured.  But, if the death happens due to an accident, the nominee will get the benefit as received on normal death with extra life sum assured in proportion and rest of the amount as monthly income added to the other monthly income.

Monthly Income

  • The monthly income will keep on increasing at a certain rate decided by company time to time. Currently, its 9 per cent per annum which will be effective from 25th February or 25th August every year.
  • It will be reviewed half yearly but will be paid on yearly basis.
  • Increase in monthly income will start from the second year of the income period.
  • On the death of the life assured the monthly income will continue.
  • It will be paid for all the income period through the policy term had ended.

Part of extra life sum assured will be paid to the nominee as monthly income.

HDFC Life Click 2 Protect 3D Plus – 3D Life Option

The life assured will get the benefits of a traditional plan along with additional security from critical diseases.

  • All the benefits will be the same as that in the Life option.
  • If the life assured will be diagnosed with a Critical illness, all the premium due after that will be waived off.

Death Benefit

The nominee will get the benefit of life assured death as sum assured. On diagnosis of any terminal illness and critical illness, the premium will be waived off. In case the life assured had met with an accident and suffered from total permanent disability, the premiums will be waived off.

HDFC Life Click 2 Protect 3D Plus – Income Replacement Option

This plan option is meant for the individuals who want to secure their family after them from a financial crisis or want to provide a regular income to their families till a certain period.

  • Replace the income of life assured
  • Waiver of a premium on accidental total permanent disability.

Death Benefit

In this option, in case of death of the life assured, an amount of 12 times of the sum assured as a lump sum will be given to the nominee along with a monthly income for the term of the policy.

Monthly Income

  • The monthly income will keep on increasing at a certain rate decided by the company from time to time. Currently, its 9 per cent per annum which will be effective from 25th February or 25th August of every year.
  • It will be reviewed half yearly but will be paid on yearly basis.
  • Increase in monthly income will start from the second year of the income period.
  • On the death of life assured, the monthly income will continue.
  • Monthly income will be paid for the rest of policy term and minimum for 4 years. If the policy term is less than 4 years, the monthly income will still be given for 4 years.

HDFC Life Click 2 Protect 3D Plus – Life Long Protection Option

Those who want to secure their families for the lifetime, can choose for this option.

  • Security for lifetime against death and terminal illness
  • Waiver of a premium on accidental total permanent disability
  • Premium term calculated on 65 years – present age of policyholder = payment term of premium

Death Benefit

In case of death or diagnosis of the terminal illness, the nominee will get the sum assured. And in case the life assured suffers from total permanent disability in an accident, all his future premiums will be waived off.

HDFC Life Click 2 Protect 3D Plus – 3D Life Long Protection Option

Those who want to provide their families with financial security against their untimely death as well as protection against the critical illness which is common these days due to lifestyle disorders.

  • All the benefits will be the same as that of the Lifelong protection option.
  • If the life assured will be diagnosed with a Critical illness, all the premium due after that will be waived off.
  • Premium term calculated on 65 years – present age of policyholder = payment term of premium

Death Benefit

In case of death or diagnosis of terminal illness, the nominee will get the sum assured. And in case the life assured has experienced total permanent disability due to an accident or critical illness, all his future premiums will be waived off.

HDFC Life Click 2 Protect 3D Plus – 3D Return of Premium Option

The policyholder who wants to have an HDFC term insurance plan which provides the return of premium on survival, this policy is best for them. It also provides relief of waiver of premium on the diagnosis of terminal illness. 

Death Benefit

In case of death, the nominee will get the sum assured and on a diagnosis of terminal illness the life assured will get the sum assured.

Maturity Benefit

If the policyholder survives, the annual premium paid will be returned back to the life assured based on the annual premium multiplied by the number of years.

Eligibility Criteria of HDFC Life Click 2 Protect 3D Plus

CriteriaLife Option
Extra Life Option
Income Option
Extra Life
Income Option
3D Life Option,
Income Replacement
Option,
Return of Premium
Option
Life Long
Protection Option
3D Life Long
Protection Option
Entry Age Min –Max 18- 65 years18- 65 years25- 65 years25- 65 years
Maturity Age8575LifetimeLifetime
Policy Term5 – 50 years5 -40 yearsLife TimeLifetime
Premium Payment Term
 
Single, Annual,Semi-Annual,Quarterly, MonthlyAnnual,Semi-Annual,Quarterly, Monthly

Change in the premium payment term can only be done when there is a date of renewal of a policy.

HDFC Life Click 2 Protect Plus

  • Comprehensive coverage at cost-effective premium
  • Financial security to you and your family
  • HDFC Life Click 2 Protect Plus comes with 4 cover options:
  1. Life Option: lump sum paid on death
  2. Extra Life Option: An additional lump sum paid on accidental death
  3. Income Option: 10% of the Sum Assured paid on the insured’s death and the remaining 90% of the amount is paid as monthly income over a time period of 15 years
  4. Income Plus Option: A lumpsum is paid to the nominee along with a monthly income to the insured’s family over a period of next 10 years.
  • Provide financial protection for you and your family
  • The Life Stage Protection feature of the Life Option lets you increase the cover amount on achieving certain key milestones in your life such as marriage, 1st kid, etc.
  • Different premium payments to choose from including Regular, Single and Limited.

HDFC CSC Suraksha Plan

HDFC Life CSC Suraksha Plan is a traditional non-participating low cost term insurance plan specifically designed keeping in mind the insurance needs of the rural population in India.

Eligibility Criteria of HDFC CSC Suraksha Plan:

Entry Age (Min-Max)18 – 55 years
Maturity Age23 – 60 years
Sum assured (Min-Max)Rs 30,000 – Rs 2,00,000
Minimum Premium Amount (Annually)Rs 112
Policy Term (Min-Max)5 – 15 years

Benefits of HDFC CSC Suraksha Plan:

  • Death Benefit:

In case of unfortunate death of the policyholder during the policy term, her or his beneficiary will receive the higher of the following:

  1. 10 times of the Annual Premium
  2. Sum Assured
  3. 105% of the total premiums paid as on the date of death of the life assured
  • Maturity Benefit

This HDFC term insurance plan does not provide any maturity benefit.

  • Surrender Benefit:

This HDFC term plan doesn’t provide any surrender value.

  • Tax Benefit:

This HDFC term plan provides tax benefits u/s 80C of the Income Tax Act, 1961. In addition to, benefits receive  d under this HDFC term insurance plan are exempted u/s 10 (10D) of the Income Tax Act, 1961.

HDFC Life Group Term Insurance Plan

PlanEntry Age Policy TermMaturity AgeSum Assured
HDFC Life Click 2 Protect 3D PlusMinimum – 16 years

Maximum  – 79 years

Maximum  – 80 yearsMinimum – 23 years

Maximum  – 85 years

 

Minimum – Rs. 5,000

Maximum – No Limit

Features of HDFC Life Group Term Insurance Plan:

Below enlisted are few of the unique features of HDFC Life Group Term Insurance Plan:

  • Life-cover for groups of people
  • Renew term insurance plan annually
  • Add or remove members anytime during the year
  • Sum assured paid to the nominee in case of the policyholder’s death
  • Add-ons or riders available such as critical illness/accidental/disability
  • Option to cover the member’s spouse
  • Enrolment process simplified
  • Quick and easy claim settlement process enabling
  • Option to get additional protection with HDFC Life Group Critical Illness Plus Rider which comes with Rider Sum Assured if diagnosed with any of the 19 Critical Illnesses

Benefits of HDFC Life Group Term Insurance Plan:

Benefits To Employer

  1. Life-cover for the entire group under one term plan
  2. Higher cover at lower premium
  3. Works as a strong retention tool
  4. Tax deductible premiums under section 37 (1) of the Income Tax Act, 1961
  5. Simple procedures to add or remove group members in the policy

Benefits To Employee

  1. Sufficient financial support to their families against unfortunate events such as illness, her/his untimely death or accident
  2. No medical test option for free cover limits
  3. Cover for vehicle or housing loans given by the employer to the employees
  4. Death benefits are tax exempted under Section 10(10D)

Different Riders Available with HDFC Life Insurance Plans:

HDFC Life insurance offers many add-ons or riders that make the policy more meaningful to the policyholder. Add-ons or riders as they are known, allow the insured to customize the policy to suit individual needs.

HDFC term insurance plans offers a variety of riders to suit individual needs. Few of them are:

  1. Critical Illness Rider

In the hectic lifestyle of these days, it’s much easier than before to fall prey to lifestyle diseases or critical illnesses such as cancer, stroke, etc. With medical expenses on a rapid growth, it’s not easy to meet the exorbitant medical fees related to critical illnesses. Also, if one is the sole breadwinner of her/his family, s/he might not be able to work anymore which can lead to financial difficulties.

It is recommended to opt for of a term plan with a critical illness benefit rider to receive coverage against such events. Under the Critical illness rider benefit of a HDFC term insurance plan, the insured will receive a benefit amount on being diagnosed with any of the 34 critical illnesses listed in the rider.

  1. Disability Rider

Under this rider, the life assured receives additional benefits on being afflicted with any of the disability covered by the rider.

  1. Accidental Death Benefit Rider

The double peril of medical expenses and permanent loss of income due to death of the bread earner can be emotionally as well as financially devastating for a family.

This is where the accidental death benefit rider under a HDFC term insurance policy can prove to be beneficial. Medical expenses are quite on the higher side when it comes to treating accidental injuries. Under this rider, the policyholder receives benefits on an accident leading to death.

  1. Waiver of Premium Rider

Under this particular benefit offered by HDFC term plans, in case of accident or mishap as listed in the rider, the policyholder is not required to pay future premiums for the policy.

Exclusions Under HDFC Term Insurance Plan:

  1. Suicide Clause:

In case of death due to suicide within 1 year from the date of inception of the policy, the policyholder’s nominee/beneficiary will be entitled to at least 80% of the premiums paid, provided the particular HDFC term plan is still active.

From the date of policy revival, the nominees/beneficiaries will be entitled to an amount which is higher of the surrender value or 80% of the premiums paid till the date of death as available on the date of death.

Additional Exclusions under Extra Life and Extra Life Income Options:

The company is not liable to pay accidental death benefit in case the death of the policyholder occurs after 6 months from the date of the accident.

Additionally, the company will also not pay accidental death benefit, if the accidental death occurs due to any of the following:

  • Intentionally self-inflicted injury or suicide, irrespective of the insured’s mental condition at the time of her/his death
  • Alcohol or solvent abuse, or drugs consumption except under the direction of a registered medical practitioner
  • War, hostilities, invasion (whether war is declared or not), rebellion, civil war or indulging in a riot or civil commotion
  • Indulging in any criminal act of
  • Indulging in any hazardous pursuit, hobby or racing sports

Additional Exclusions under 3D Life and 3D Life Long Protection options:

The company will not be liable to pay any benefit if the critical illness is caused by any the following reasons:

  • Death due to any of the mentioned critical illness conditions occurs within 30 days of the diagnosis.
  • Any critical illness related condition occurring within 90 days of the inception of the policy

*Rest as mentioned in the Extra Life and Extra Life Income Options

Claim Procedure of HDFC Term Plan

Getting a claim settled in HDFC term insurance plans is a very easy procedure. The nominee or the policyholder has to follow the given procedure –

  1. If the life insured is resident of the country, s/he needs to send the claim on service@hdfclife[dot]com with the properly filled form of the claim. And if the claimant is a non- resident, s/he needs to send the claim to nriservice@hdfclife[dot]com.
  2. In case of any doubt, the nominee or the policyholder can call customer care 1860 267 9999 which is toll-free. The call could be made from Monday to Saturday from 10 am to 7 pm.

While giving the claim for settlement, the claimant needs follow the given procedure –

  1. To get the claim settled it is necessary to fill the form accurately.
  2. All the premium payment to be done on time so no problem occurs at the time of filing the claim.
  3. Give the cheque copy with the detail of NEFT for the claim money.
  4. All documents required need to be submitted at the nearest branch or online.

Documents Needed for HDFC Term Insurance Claim:

In the case of Natural Death:

  • Death certificate issued by Government or Relevant Authority
  • Original Policy Document
  • Death claim form (includes NEFT)
  • NEFT Account details
  • Identity and Residence Proof of the Claimant
  • Medical records at the time of death & past illnesses

In the case of Un-natural Death (Suicide/Murder/Accidental death):

  • Death certificate issued by Government or Relevant Authority
  • Original Policy Document
  • Death claim form (includes NEFT)
  • NEFT Account details
  • Identity & Residence Proof of the Claimant
  • Police Inquest Report and Panchnama along with FIR copy
  • Post Mortem Report

Please note that additional documents may also be requested depending upon individual cases

In the case of Critical Illness Claim:

  • Critical Illness claim form
  • Current and past medical records including hospital records, reports of diagnostic tests, etc
  • Original Policy Document
  • Identity & Residence Proof of the claimant
  • NEFT Account details

Please note that additional documents may also be requested depending upon individual cases

FAQs of HDFC Term Insurance Plans:

Q1) What can be done if the nominee doesn’t have the policy documents of her/his HDFC term insurance plan?

In such cases, the nominee can submit an Indemnity Bond in lieu of the unavailable/lost policy document. The indemnity needs to be executed on the stamp paper and duly notarized. The value of the stamp paper would be as applicable in the state.

The template for indemnity bond can be downloaded from: website.hdfclife[dot]tech/customer-service/claims

Q2) What all account proofs can be submitted to get the claim processed for a HDFC term insurance plan?

Original cancelled personalized cheque or original bank statement with pre-printed Account Number, IFSC code and the customer’s name on the same or copy of the bank passbook.

Q3) How long does a policyholder need to pay the premiums?

It depends upon the premium paying options the insured has chosen. There are 3 premium paying option available with the HDFC term plans:

Single pay – The policyholder needs to pay the premium for once

Limited pay– The policyholder needs to pay the premiums for the term chosen by her/him, starting from 5 to 39 years. The premium paying term can also extend to 49 years For Life, Extra Life, Income and Extra Life Income options.

Regular pay– The policyholder needs to pay the premiums for the entire policy term

Q4) How can an NRI policyholder change her/his address on a HDFC term insurance policy?

The NRI policyholder het her/his address changed by sending an email at NRIservice@HDFCLife[dot]com addressing the same. S/he also needs to send a self-attested photocopy of her/his new address proofs.

Q5) Whom should an NRI policyholder contact for policy related queries?

NRI policyholders can send an email at NRIservice@hdfclife[dot]com for their policy related queries and concerns.