HDFC Life Insurance Plans: Types, Features, Benefits(7 Big Benefits)

HDFC Life Insurance Plans : HDFC Standard Life Insurance Company Limited, or HDFC Life as it is commonly known, is a merger between India’s largest housing finance company – HDFC Limited and globally renowned long-term investment savings firm – Standard Life. At present, Standard Life holds 35% stake and HDFC Ltd holds 61.63% stake in HDFC Life, and the rest is with other players.

HDFC Standard Life has established itself as one of the most trusted insurers in the country. It provides a wide variety of products and services to individuals as well as group entities. Whether you are looking for protection plans, women or children plans, pension plans or savings and investment solutions, HDFC Life has it all.

HDFC Life Insurance Plans

HDFC Standard Life has developed a strong reputation for providing a vast range of insurance policies across all sectors, be it protection plans, retirement solutions, children’s plans, savings and investment instruments, women’s plans etc. Following is the list of different plans offered by HDFC Life:

HDFC Term Insurance Plan

Term insurance plans offered by HDFC Life provide a life cover in addition to financial protection to the dependents of the insured.

HDFC Life Click 2 Protect 3D Plus:

This plan provides financial security to the loved ones of the insured. Policyholders can customize their plan with 9 plan options available. An additional advantage is that policyholders have the option to choose their policy term and premium payment term. In case of accidental total and permanent disability and diagnosis of serious and terminal illness, future premiums on the policy are waived off.

HDFC Life Click 2 Protect Plus:

Click to Protect Plus offers life cover to the insured at an affordable cost. This plan also comes with an income option which pays 10% of the sum assured on death and the remaining 90% as monthly income over a period of 15 years. This scheme comes with flexible premium payment options.

HDFC Life Click 2 Protect Health:

This plan provides protection to the insured for his whole life. Apart from providing life cover, all premiums are waived on diagnosis of critical and terminal illness and sudden disability. Life cover can be increased through top-up cover every year.

HDFC Life Click2 Protect 3D Plan:

HDFC Life Click2 Protect 3D which not only secures your finances but also protects you from death, illnesses and disability. This is a comprehensive plan that is unique due to the type of plan it offers as well as the low premium. Currently, HDFC Life Insurance offers 9 different options under HDFC Life Click2 Protect 3D plan. Of these, 6 options provide lump sum benefit. They are listed beneath:

• Life
• 3d life
• extra life
• 3D Lifelong Protection
• Lifelong Protection
• Return of Premium (ROP)

HDFC Life Child Plan

Given the unpredictability of life, it is necessary to ensure that your children are financially secure at all times. HDFC Child Plans ensure that you start saving for your child’s future expenses at a very early stage so that you have enough funds available to meet various expenses related to marriage, higher education etc. The following are two child plans that you can purchase from HDFC Life:

• HDFC Life YoungStar Udaan: This children’s plan from HDFC ensures guaranteed payouts at every important stage of your child’s life. There are three maturity benefit options to select from. Coverage can be availed for different policy periods and premium payment terms.
• HDFC Life YoungStar Super Premium: YoungStar Super Premium plan by HDFC is essentially a ULIP that takes care of all the important financial milestones in your child’s life like education, marriage, home buying, etc. In case of death of the insured person, the policy will provide annual payout to the family of the deceased. The client has the flexibility to choose the fund in which the investments will be made.

HDFC Life Retirement Plan

HDFC Life Retirement Solutions provide financial protection to ensure that you will have a regular income even when your professional income no longer flows into your account. These plans help you live a comfortable life while coping with the rising inflation and increased cost of living. Following are the retirement plans that you can purchase from HDFC Life:

• HDFC Life Personal Pension Plus: This pension plan from HDFC provides you with an assured benefit of 101% of the premium paid in case of vesting or death. Additionally, this plan allows you to choose the investment tenure between 10 years to 40 years. Reversionary bonuses and terminal bonuses are offered under the policy.
• HDFC Life Pension Super Plus: This plan guarantees 101% of all premiums paid. If an annuity is bought, there is flexibility in choosing the tenure and guarantee of regular income.
• HDFC Life Single Premium Pension Super Plan: This pension plan is a unit-linked, single premium plan that assures you of generating a sufficient corpus after retirement.
• HDFC Life Guaranteed Pension Plan: HDFC Life Guaranteed Pension Plan from HDFC Standard Life is a deferred pension plan that offers assured payout on vesting or death. It guarantees an addition of 3% of the sum assured on completion of every premium year. This plan provides the flexibility to choose the premium payment term.
• HDFC Life New Immediate Annuity Plan: This is a traditional pension plan that allows you to choose an annuity and earn regular income after your retirement. This plan ensures guaranteed income for as long as you or your spouse is alive. There are seven Single Life Annuity options and four Joint Life Annuity options to choose from.
• HDFC Life Click 2 Retire: HDFC Life Click 2 Retire is an online retirement plan provided by HDFC. It is a unit linked insurance plan and offers you many benefits like tax benefits, death benefits, vesting benefits and surrender benefits. The vesting age under the plan is 45 years, which is lower in comparison to other retirement plans. Single pay and limited pay options are available under the scheme.
• HDFC Life Assured Pension Plan – ULIP: This unit linked insurance plan offers market-linked returns with loyalty bonus to customers who already achieve their retirement goals through strategic and systematic planning. helps to. Entry age for the plan is as low as 18 years.

HDFC Life Women’s Plans

HDFC Life has designed a tailor-made solution that specifically caters to the diverse financial needs of women. This product is designed to ensure that women can plan well in advance for different stages of life like retirement, security, child’s education etc. Currently, HDFC Life has only one women’s plan which is as follows:

HDFC Life Smart Woman Plan

It is an insurance plan that provides both investment and insurance benefits under a single product. The customer can choose between three benefit options. The policy offers premium waiver benefits in case of pregnancy complications, diagnosis of malignant cancer in female organs, or death of the policyholder’s spouse. Additional cash payments may be offered from time to time under specific plan variants.

How to Claim Insurance With HDFC Life Insurance Plan?

The process to claim insurance with HDFC Life is as follows:

• Write a letter to the company informing it about the claim.
• Once the company gets your information, it will get back with a list of documents that you need to submit to start the claim process.
• Go through the letter, gather all the documents, and drop them along with the claim form at the nearest HDFC Life branch.
• The company will then review your documents and determine if you are eligible for the claim amount.
• If the documents provided are sufficient, the company will accept your claim request and process it at the earliest and make the payment to the policyholder/nominee.
• If the claim is rejected, the Company will communicate with the individual as to why their claim was rejected.
• If you require any assistance regarding reporting a claim, you can send an email to claims@hdfclife.com.

How to Check HDFC Standard Life Insurance Policy Status Online

To check the status of your HDFC Life Insurance policy, you just need to visit the official website of the company and find the login option on the homepage. On the login portal, you will find a link named Customer.

Under this, you will have links for Individual Policyholders, Group Members and NRIs. Click on the appropriate link and you will be requested to enter your Client ID, Email ID or Mobile Number along with password to login. You have the option of using an OTP as the password. Once you have logged in, you can see the status of your HDFC Life Insurance policy on the screen.

HDFC Life Online Payment

If you wish to make HDFC premium payment online instead of visiting any of the company’s branches, you can do so by visiting the customer care section of the company’s official website and select the Pay Premium Online option after which you will be redirected to a new page. Would be done.

Here, you have to enter the necessary details, i.e. your policy number and your date of birth. Then click on proceed option and choose your payment mode, eg. Credit Card/Debit Card/Net Banking etc., and pay your premium. After this your payment will be complete.

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HDFC Life Insurance Plans FAQS