HDFC Life Insurance Company was earlier called HDFC Standard Life Insurance Company but it has been recently renamed. The company was formed in the year 2000 as a joint venture between HDFC Limited and Standard Life Aberdeen. While HDFC Limited is one of the leading financial institutions of India, Standard Life Aberdeen is an international investment company which is present in various countries.
Ever since its inception HDFC Life Insurance is offering a range of life insurance solutions to customers. The company enjoys a good market reputation and is present across India 412 branches, 265 bancassurance partners, 39 non-traditional financial partnerships. In the year 2016, the company entered the reinsurance business by establishing a wholly-owned subsidiary called HDFC International Life and Re Company Limited in the United Arab Emirates. In the Indian insurance segment, the company offers all types of life insurance products which are discussed below.
There are definite advantages to choosing the life insurance policies offered by HDFC Life Insurance. These benefits are as follows –
HDFC Life Insurance offers the following types of plans to its customers –
Term insurance plans are those which cover the risk of premature death. These plans promise the payment of a lump sum benefit if the insured dies during the policy tenure. The premiums are very low and the plans ensure that the family is financially supported in the absence of the bread-winner.
Term plans offered by HDFC Life Insurance
This is a comprehensive term insurance plan which has multiple coverage options to choose from and that too at affordable premiums. The salient features of the plan are as follows –
Eligibility conditions of HDFC Life Click 2 Protect Plus Plan
Entry age |
18 years to 65 years |
Plan duration |
10 years to 40 years |
Sum assured |
INR 25 lakh onwards |
Premium amount |
Depends on age, term and sum assured |
This is a combination of a term insurance plan and a health insurance plan giving you dual coverage benefits. The features of the plan are as follows –
Eligibility conditions of HDFC Life Click 2 Protect Health Plan
Entry age |
18 years to 65 years |
Plan duration |
5 years to whole life |
Sum assured |
INR 10,000 onwards |
Premium amount |
Depends on age, term and sum assured |
Traditional savings plans are endowment or money back insurance plans which offer you guaranteed returns along with life insurance coverage. These plans are suitable for investors who are looking to create a secured corpus over a long term period and also need insurance coverage for protection purposes. The different types of traditional savings plans offered by HDFC are as follows –
This is a non-participating endowment assurance plan where the maturity and death benefits are promised. The features include the following –
Eligibility conditions of HDFC Life Sanchay Plus Plan
Entry age |
5 years to 60 years |
Maturity age |
18 years to 80 years |
Sum assured |
Depends on the premium and plan option selected |
Premium amount |
Minimum – INR 30,000/annually Maximum – no limit |
This plan also offers guaranteed benefits and is offered as a non-participating plan. The plan features are as follows –
Eligibility conditions of HDFC Life Sanchay Plan
Entry age |
30 days to 60 years |
Plan duration |
10 years to 40 years |
Sum assured |
INR 3442 onwards |
Premium amount |
Minimum – INR 1000/annually Maximum – no limit |
This is an endowment assurance plan which can be chosen to cover you for your whole life. The plan’s features are as follows –
Eligibility conditions of HDFC Life Sampoorn Samridhi Plus Plan
Entry age |
30 days to 60 years |
Plan duration |
15 years to 40 years |
Sum assured |
INR 65,463 onwards |
Premium amount |
Minimum – INR 12,000/annually Maximum – no limit |
This is a participating endowment plan which offers the following salient features –
Eligibility conditions of HDFC Life Classic Assure Plus Plan
Entry age |
3 years to 60 years |
Plan duration |
10,15 or 20 years |
Sum assured |
INR 49,447 onwards |
Premium amount |
Minimum – INR 12,000/annually Maximum – no limit |
This is a money back policy which gives you income during the policy tenure. The features of the plan are as follows –
Eligibility conditions of HDFC Life Super Income Plan
Entry age |
30 days to 59 years |
Plan duration |
16, 18, 20, 22 or 24 years |
Sum assured |
INR 128,337 onwards |
Premium amount |
Minimum – INR 24,000/annually Maximum – no limit |
This is a traditional endowment plan which also participates in bonus declarations done by the company. The plan has the following salient features –
Eligibility conditions of HDFC Life Uday Plan
Entry age |
18 years to 55 years |
Plan duration |
12 or 15 years |
Sum assured |
INR 28,465 onwards |
Premium amount |
Minimum – INR 5000/annually Maximum – no limit |
This is a traditional micro insurance plan which allows the rural population to create savings as well as enjoy insurance coverage. The features of the plan are as follows –
Eligibility conditions of HDFC Standard Life Sarv Grameen Bachat Yojana Plan
Entry age |
18 years to 60 years |
Plan duration |
5 years |
Sum assured |
INR 5000 in case of death INR 300 in case of maturity |
Premium amount |
INR 200 payable once |
This is an endowment assurance plan which also earns bonuses and gives you the following benefits-
Eligibility conditions of HDFC Life Pragati Plan
Entry age |
8 years to 55 years |
Plan duration |
5 years to 20 years |
Sum assured |
Minimum – INR 5000 Maximum – INR 20 lakhs |
Premium amount |
Minimum – INR 12,000/annually or INR 5000 for single pay Maximum – INR 2 lakhs/annually or for single pay |
Unit linked plans are those which give you market-linked returns along with the promise of insurance coverage. The premiums that you pay are invested in the capital market where they grow as per market performance. ULIPs also offer you a range of flexible features like switching, partial withdrawals, top-ups, etc.
HDFC ULIP Plans
This is a very popular unit linked plan offered by HDFC. The salient features of the plan are as follows-
Eligibility conditions of HDFC Life Click 2 Wealth Plan
Entry age |
30 days to 65 years |
Plan duration |
10 years to 40 years or 99-entry age |
Sum assured |
Single premium – 1.25 times the premium paid Regular premium – up to 10 times the annual premium |
Premium amount |
Minimum – INR 12,000 payable annually or INR 24,000 payable once Maximum – no limit |
This is a unit linked plan which requires only a single premium payment. The unique features of the plan are as follows –
Eligibility conditions of HDFC Life Classic One Plan
Entry age |
30 days to 80 years |
Plan duration |
10 years to 90-entry age |
Sum assured |
Minimum – 1.25 times the premium paid Maximum – up to 10 times the premium paid |
Premium amount |
Minimum – INR 2 lakhs Maximum – no limit |
This is a unit linked plan which allows premium payment flexibility. You can pay premiums regularly, for a limited duration or in one lump sum. Other features of the plan are as follows –
Eligibility conditions of HDFC Life Sampoorn Nivesh Plan
Entry age |
30 days to 60 years |
Plan duration |
10 years or 15 years to 25 years |
Sum assured |
Single premium – up to 1.25 times the premium paid Regular premium – up to 10 times the annual premium |
Premium amount |
Minimum – INR 24,000 Maximum – no limit |
This is a flexible HDFC ULIP Plan which has the following features –
Eligibility conditions of HDFC SL ProGrowth Flexi Plan
Entry age |
30 days to 65 years |
Plan duration |
10 years to 40 years or 99-entry age |
Sum assured |
Single premium – 1.25 times the premium paid Regular premium – up to 10 times the annual premium |
Premium amount |
Minimum – INR 12,000 payable annually or INR 24,000 payable once Maximum – no limit |
Another variant of the ProGrowth Plan, this ULIP has the following features –
Eligibility conditions of HDFC Life ProGrowth Plus Plan
Entry age |
14 years to 65 years |
Plan duration |
10 years to 30 years |
Sum assured |
Up to 40 times the annual premium |
Premium amount |
Minimum – INR 24,000 payable annually Maximum – INR 1 lakh payable annually |
This plan offers various unique features which are mentioned below –
Eligibility conditions of HDFC Life ProGrowth Super II Plan
Entry age |
14 years to 65 years |
Plan duration |
10 years to 30 years |
Sum assured |
Up to 40 times the annual premium |
Premium amount |
Minimum – INR 15,000 payable annually Maximum – no limit |
This is a short term unit linked plan which is suitable for individuals who have a short investment horizon. The features of the plan are as follows –
Eligibility conditions of HDFC SL Crest Plan
Entry age |
14 years to 65 years |
Plan duration |
10 years |
Sum assured |
Up to 20 times the annual premium |
Premium amount |
Minimum – INR 50,000 payable annually Maximum – no limit |
This is a single premium unit linked plan wherein you are required to invest only once. The features of the plan are as follows –
Eligibility conditions of HDFC SL ProGrowth Maximiser Plan
Entry age |
14 years to 65 years |
Plan duration |
5 years or 10 years |
Sum assured |
Up to 10 times the single premium |
Premium amount |
Minimum – INR 50,000 Maximum – no limit |
This is a unique unit linked plan which promises a guaranteed maturity benefit even when the markets are volatile. The plan’s features are as follows –
Eligibility conditions of HDFC Life Capital Shield Plan
Entry age |
8 years to 60 years |
Plan duration |
10 years |
Sum assured |
Single premium – up to 1.25 times the premium paid Regular premium – up to 10 times the annual premium |
Premium amount |
Minimum – INR 48,000 Maximum – no limit |
Child plans are life insurance plans which are designed for the financial protection of the child’s future of the parent dies prematurely. Child insurance plans create a secured corpus which can be used for the child’s higher education or for any other financial requirement.
HDFC child plans
This is a traditional money back child insurance plan which also earns bonuses for a higher corpus. The features of the plan are as follows –
Eligibility conditions of HDFC Life Young Star Udaan Plan
Entry age |
30 days to 60 years |
Plan duration |
15 years to 25 years |
Sum assured |
Depends on the premium, term and plan option selected |
Premium amount |
Minimum – INR 24,000 payable annually Maximum – no limit |
This is a unit linked child insurance plan which has the following salient features –
Eligibility conditions of HDFC SL YoungStar Super Premium Plan
Entry age |
18 years to 65 years |
Plan duration |
10 years to 20 years |
Sum assured |
Up to 40 times the annual premium |
Premium amount |
Minimum – INR 15,000 payable annually or INR 24,000 payable once Maximum – no limit |
Women insurance plans are those which are specifically designed to cater to the insurance and savings needs of women. HDFC Life offers one specialised women’s plan which is as follows –
This is a unit linked insurance plan which allows market-linked returns while also providing life insurance coverage. The features of the plan are as follows –
Eligibility conditions of HDFC Life Smart Woman Plan
Entry age |
18 years to 45 years |
Plan duration |
10 years or 15 years |
Sum assured |
Up to 40 times the annual premium |
Premium amount |
Minimum – INR 24,000 payable annually Maximum – INR 1 lakh payable annually |
Health insurance plans are those which cover specific health related contingencies and pay you a lump sum benefit if you suffer from the covered contingency.
HDFC Life Health plans
This plan covers heart related conditions and pays a lump sum benefit in case of claims. The salient features of the plan are as follows –
Eligibility conditions of HDFC Life Cardiac Care Plan
Entry age |
18 years to 65 years |
Plan duration |
5 years to 40 years |
Sum insured |
Minimum – INR 2 lakhs Maximum – INR 50 lakhs |
Premium amount |
Minimum – INR 357.40 payable annually or INR 1313.20 payable once Maximum – INR 655,860 payable annually or INR 14,43,435 payable once |
As the name suggests, this is a cancer specific health insurance plan which covers both minor and major stage cancers. The features of the plan are as follows –
Eligibility conditions of HDFC Life Cancer Care Plan
Entry age |
5 years to 65 years |
Plan duration |
10 years to 85-entry age |
Sum insured |
Minimum – INR 10 lakhs Maximum – INR 50 lakhs |
Premium amount |
Depends on the sum insured, age, term and plan option selected |
This is a health insurance plan which provides you fixed benefits for different contingencies. The plan’s features are as follows –
Eligibility conditions of HDFC Life Easy Health Plan
Entry age |
18 years to 65 years |
Plan duration |
5 years |
Sum insured |
INR 25,000 to INR 5 lakhs depending on the plan option selected |
Premium amount |
Minimum – INR 676 payable annually or INR 2184 payable once Maximum – INR 122,068 payable annually or INR 404,279 payable once |
Retirement plans are pension plans which help you in creating a retirement fund and/or to get regular income post retirement.
HDFC Retirement plans
This is an immediate annuity plan which gives you lifelong pensions. The features of the plan are as follows –
Entry age |
30 years to 85 years |
Annuity amount |
Minimum – INR 12,000/year Maximum – no limit |
Premium amount |
Minimum – INR 42,076 Maximum – no limit |
This is a traditional deferred annuity plan which helps you create a retirement corpus for yourself. The features of the plan are as follows –
Eligibility conditions of HDFC Life Guaranteed Pension Plan
Entry age |
35 years to 65 years |
Plan duration |
10 years to 20 years |
Sum insured |
Minimum – INR 86,830 Maximum – No limit |
Premium amount |
Minimum – INR 24,000/year Maximum – no limit |
This is also an immediate annuity plan where you get annuity payments immediately after buying the policy. The features of the plan are as follows –
Eligibility conditions of HDFC Life New Immediate Annuity Plan
Entry age |
20 years to 85 years |
Annuity amount |
Minimum – INR 10,000/year Maximum – No limit |
Premium amount |
Depends on the age and annuity amount required |
This is a unit linked deferred annuity plan which helps you create a market-linked retirement corpus. The features of the plan are as follows –
Eligibility conditions of HDFC Life Pension Super Plus Plan
Entry age |
35 years to 65 years |
Plan duration |
10 years to 20 years |
Sum insured |
Depends on the premium amount |
Premium amount |
Minimum – INR 24,000/year Maximum – no limit |
This is a unit linked plan which needs only a single premium. The features of the plan are as follows –
Eligibility conditions of HDFC Life Single Premium Pension Super Plan
Entry age |
40 years to 75 years |
Plan duration |
10 years to 45 years |
Sum insured |
Depends on the premium paid |
Premium amount |
Minimum – INR 25,000/year Maximum – no limit |
This is a unit linked deferred pension plan. The plan lets you build up a considerable retirement corpus through market-linked returns. Other features of the plan are as follows –
Eligibility conditions of HDFC Life Assured Pension Plan
Entry age |
18 years to 65 years |
Plan duration |
10 years or 15 years to 20 years |
Sum insured |
Depends on the premium paid |
Premium amount |
Minimum – INR 24,000/year for limited premium and INR 50,000 for single premium Maximum – no limit |
This is a traditional pension plan which gives you bonus additions so that you can create a substantial retirement corpus. The features of the plan are as follows –
Eligibility conditions of HDFC Life Personal Pension Plus Plan
Entry age |
18 years to 65 years |
Plan duration |
10 years to 40 years |
Sum insured |
Minimum – INR 204,841 Maximum – No limit |
Premium amount |
Minimum – INR 24,000/year Maximum – no limit |
HDFC Life Insurance offers you the facility to buy its life insurance policies online through the company’s website.
Alternatively, you can also buy HDFC insurance policies through Turtlemint which gives you the chance to compare and buy the best life insurance plan for your needs. To buy a plan through Turtlemint all you have to do is follow some simple steps and the policy would be bought. These steps are as follows –
To buy HDFC insurance policy, the following documents would be required –
Claims under HDFC life insurance policies occur either when the policy matures or in case of death. Moreover, health insurance claims occur when the covered contingency occurs. Here’s the claim process for different types of claims –
For making a maturity claim you should fill up a maturity claim form and submit the form to the insurance company along with your identity proof and bank details. The company would assess the documents and then pay the claim directly to your bank account.
Death claims would have to be made by your nominee. The nominee should inform the insurance company about the death to make a claim. A claim form should be filled stating the details of the policy and the claim. The form should be submitted along with death certificate and other relevant documents. The insurance company would verify the claim and settle it.
In case of health claims, the medical reports would be required to make a claim. You should fill up the claim form and submit it to the insurance company along with all medical reports and other documents. The insurance company would then assess the claim and pay you the benefit promised under the policy.
The documents required for life insurance claims are as follows –
Settlement of the claim is done quickly if you follow the claim process and submit all the relevant documents. To make things easier, Turtlemint also allows helps you in getting your life insurance claims settled. To get your claims through Turtlemint all you need to do is inform Turtlemint of the claim. Turtlemint’s dedicated claims handling team would, then, follow the claim process on your behalf and help you get the settlement of your claims quickly. To inform Turtlemint you can call their toll-free number which is 1800 266 0101. You can also inform Turtlemint by sending an email at their official ID which is claims@turtlemint.com. Once informed, Turtlemint would ensure that you get your claims settled at the earliest.
HDFC Life Insurance premium payment can be done online or offline. Online premiums can be paid through your credit or debit card, net banking or mobile wallets. To pay offline you can pay using cash, cheque, demand drafts, etc.
You can check the status of your policy online on HDFC’s website. The website allows you to check the policy status by entering the proposal number after you have applied for the policy. If you are an existing customer, you can log into your online account and check the policy status.
If you are not satisfied with the policy that you have bought, you can cancel the policy during the free-look period granted by HDFC. The free-look period is 15 days which becomes 30 days if you have bought the policy online. During this period you can cancel the policy by giving a written request to the insurance company. Upon cancellation, the premium would be refunded after deducting the administrative costs incurred in issuing the policy and the risk premium for the time the policy was in force.