Web
Analytics
Life Insurance

HDFC Life

HDFC LIFE CLICK TO PROTECT PLUS

Sometimes the simplest choice is the best one for you. A pure protection plan is a simple way to get comprehensive protection at an affordable price and protect yourself and your loved ones against the uncertainties that life may throw at you. With a range of additional coverage options, HDFC Life Click 2 Protect Plus is an ideal comprehensive protection plan for you.

Key Features of this Plan

Comprehensive coverage at affordable cost Provide financial protection for you and your family Customize your plan with choice of cover options

  1. Life Option : which pays lump sum on death?
  2. Extra Life Option : which pays an additional lump sum on death due to accident?
  3. Income option : which pays a part of the Sum Assured on death with remaining payable as monthly income over 15 years
  4. Income Plus option : This pays the Sum Assured to the nominee upon the death of the life assured as well as a monthly income to the family for a period of 10 years. A monthly income equal to 0.5% of Sum Assured becomes payable for a period of 10 years. The monthly income can be level or increasing at 10% p.a. on each policy anniversary.
  • That’s not all! – With Life Stage Protection feature available under Life Option, you can increase your insurance cover on certain key milestones of your life without medicals
  • Insurance cover available up to age 75 years Single,
  • Limited and Regular premium payment options to choose from
  • Attractive premium rates for non tobacco users
  • Tax benefit as per prevailing tax laws

What is the aim of this plan?

This plan provides a benefit amount in the unfortunate event of death of the Life Assured anytime during the policy term. This amount would help your family to pay any outstanding debts or fund the day to day expenses, thus easing the financial worries of your family.

What are the plan options?

Life Option Death Benefit
Extra Life Option Death Benefit+ Accidental Death Benefit
Income Option Part of the Death benefit as a Lump sum with the remaining payable in form of monthly income over a period of 15 years.
Income Plus Option 100% of Sum Assured is paid on death and a monthly income equal to 0.5% of Sum Assured becomes payable for a period of 10 years. The monthly income can be level or increasing at 10% p.a. as chosen by the policyholder

Who Can Apply?

AGE LIMITS
Minimum Entry age 18 Years
Maximum Entry age 65 Years
Maximum Entry age 75 Years

What period will I be covered for?

You can choose to be covered for any term from 10 years to 40 years subject to meeting the maximum maturity age.

How long do I pay premiums for?

You can choose to pay from either of the 3 premium paying options available with this plan:

  • Regular pay- you pay premiums throughout the chosen policy term OR
  • Limited pay- you pay premiums for your chosen policy term less 5 years OR
  • Single pay – you pay premium once

What premium payment frequencies are available?

Single, annual, half-yearly, quarterly and monthly* frequencies are available under this product.

What amount of coverage can I get?

Your cover (Sum Assured) will be based on your age, gender and plan option within the applicable limits as mentioned below:

  • Minimum Sum Assured: ` 25,00,000
  • There is no limit on maximum Sum Assured, subject to satisfactory underwriting

How can i buy this plan?

You can buy this plan at www.hdfclife.com. It just takes 4 steps to own your HDFC Life Click 2 Protect Plus plan.

Customize your plan 1. Plan Option
2. Sum Assured
3. Policy Term
4. Additional Coverage Options
5. Premium Paying Term & Frequency of payment
Generate Premium Quote You will need to fill the following to generate premium quote
1. Age
2.Gender
3. Answer if you consume tobacco or not
Provide your relevant Information Fill in your personal details; answer few questions on your occupation, lifestyle, health and your family’s medical history. You need to fill nomination details and accept the policy terms & conditions
Pay Premiums Pay your premiums! Your policy document will be sent to you subject to acceptance of your application as per the policy terms & conditions

What are the benefits?

The plan covers the event of death under all options as mentioned below. An additional benefit is paid in case of accidental death under Extra Life Option. Plan also offers an opportunity to enhance your cover through Life Stage Protection Feature under Life Option. Benefits will be paid only if you have paid all the due premiums and your policy is in force as on date of claim.

Death benefit

In the unfortunate event of death of life assured during the policy term, the nominee will receive the benefit as defined below:

Single Premium Policies Other then Single Premium Policies
Highest of: Highest of:
125% of Single Premium 10 times the annualized premium
Sum Assured 105% of all the premiums paid as on date of death
Sum assured

For the purpose of the computation of the Death Benefit, the annualized premium shall exclude the underwriting extra premiums and loadings for modal premiums, if any

Under Life Option, the Death Benefit specified above shall be payable in the form of a lump sum upon death. Under Extra Life Option, the Death Benefit specified above shall be payable in the form of a lump sum and an additional benefit equal to the Sum Assured shall be payable in case of accidental death.

Under Income Option, the Death Benefit specified above is paid in the following manner:

  • 10% of the Death Benefit paid as a lump sum upon death
  • Remaining 90% of the Death Benefit shall be paid as monthly income over next 15 years (0.5% of Death Benefit every month for 15 years)

Under Income plus Option:

  • 100% of the Death Benefit specified above shall be paid as a lump sum upon death
  • In addition, a monthly income equal to 0.5% of the Sum Assured shall be payable for a period of 10 years.

The monthly income can be level or increasing at 10% p.a. as chosen by the policyholder.

Maturity benefit

No benefit is payable on survival till end of policy term.

Life Stage Protection

  • (Available under Life option upon payment of an additional premium) You want to be sure you have enough cover as your financial circumstances change as you go on to achieve different milestones in your life. With Life Stage Protection feature you can
  • Increase your cover (Sum Assured)
  • Reduce the additional cover later which will lead to proportional reduction in future premiums

Increase your cover:

  • You can increase your Insurance Cover without any medicals on any one or all of the following events:
    Events Additional Sum Assured
    (Percentage of sum assured)
    Subject to Maximum Additional sum assured
    Marriage 50% Rs 50,00,000
    Birth of 1st Child 25% Rs 25,00,000
    Birth of 2nd Child 25% Rs 25,00,000
  • Occurrence of these events must be during the term of the policy.
  • Your premium will be recalculated based on your increased Sum Assured and outstanding policy term.
  • See Terms & Conditions section for details.

llustration of Life Stage Protection feature

Joy is a 30 year old professional who has purchased HDFC Life Click 2 Protect Plus with Sum Assured of `.10,00,000. On his marriage, he wants to increase his Sum Assured. He opts for the Life Stage Protection Option and his Additional Sum Assured is 50% of the Sum Assured i.e. `. 5,00,000. He becomes a father after 2 years of marriage and opts to increase his cover. His Additional Sum Assured is increased by 25% of his Sum Assured i.e. `. 2,50,000.

Reduce the Additional Sum Assured:

With age as your income is on a rise and as your children become independent, you may realize that you don’t need Additional Insurance Cover anymore. We offer you the flexibility to reduce your Additional Insurance Cover after you have attained age of 45 years. Your Sum Assured will be reset to the original Sum Assured at inception. Your premium will be recalculated based on revised sum assured for the remainder of the premium paying term.

What if i don’t Pay Premium?

Grace Period is the time provided after the premium due date during which the policy is considered to be in-force with the risk cover. This plan has a grace period of 30 days for yearly, half yearly and quarterly frequencies from the premium due date. The grace period for monthly frequency is 15 days from the premium due date. Should a valid claim arise under the policy during the grace period, but before the payment of due premium, we shall still honour the claim. In such cases, the due and unpaid premium will be deducted from any benefit payable. In case you do not pay premiums before the end of grace period, the policy will lapse. All risk covers will cease and no benefits will be payable in case of lapsed policies.

Can I surrender the plan?

You can surrender your policy anytime and get surrender benefit as stated below:

Premium Pay Surrender Value
Single pay Life, Extra Life, Income Option and Income Plus Option : 70% x Single Premium x (Unexpired Coverage Term / Original Coverage Term ):
Regular pay Non Surrender Value
Limited Pay Non Surrender Value

Who will get the benefit?

The benefit on death will be paid to your nominee. As per Section 39 of the Insurance Act, 1938, you can nominate a person to receive the benefit under this policy. During your lifetime and while your policy is in force, you may at any time, by written notice to us, designate any person or persons as a nominee to whom we shall pay benefits under this policy upon your unfortunate death. If you assign your policy as per Section 38 of the Insurance Act, 1938 any nomination made by you will be cancelled.

Who will get the benefit?

The benefit on death will be paid to your nominee. As per Section 39 of the Insurance Act, 1938, you can nominate a person to receive the benefit under this policy. During your lifetime and while your policy is in force, you may at any time, by written notice to us, designate any person or persons as a nominee to whom we shall pay benefits under this policy upon your unfortunate death. If you assign your policy as per Section 38 of the Insurance Act, 1938 any nomination made by you will be cancelled.

Exclusions only for Accidental Death Benefit

We will not pay accidental death benefit if the death occurs after 180 days from the date of the accident. We will not pay accidental death benefit, if accidental death is caused directly or indirectly by any of the following: If the death occurs after 180 days from the date of the accident Intentionally self-inflicted injury or suicide, irrespective of mental condition Alcohol or solvent abuse, or the taking of drugs except under the direction of a registered medical practitioner War, invasion, hostilities (whether war is declared or not), civil war, rebellion, revolution or taking part in a riot or civil commotion Taking part in any flying activity, other than as a passenger in a commercially licensed aircraft Taking part in any act of a criminal nature with criminal intent Taking part or practicing for any hazardous hobby, pursuit or race unless previously agreed to by us in writing

HDFC LIFE INCOME BENEFIT ON ACCIDENT DISABILITY RIDER

Your earning potential is a far more valuable asset than your car or house. An unexpected accident* may affect your income and ruin your dreams. Accidental disability may affect your ability to perform even some of the simplest tasks such as walking and seeing, keeping you far from generating your income. Ensure that your family's lifestyle is not compromised even if you are unable to work due to disability - by securing a monthly income with HDFC Life Income Benefit on Accidental Disability Rider. *An accident is a sudden, unforeseen and involuntary event caused by external, visible and violent means

HDFC Life Income Benefit on Accidental Disability Rider at a glance

  • This rider can be taken on single life basis at inception or on subsequent policy anniversary of the base plan subject to limits specified below:
    Parameters Limits
    Entry age (last birthday) 18 years to 55 years
    Maturity age (last birthday) Up to 65 years
    Policy term 10 to 40 years
    Premium payment term Less than or equal to the premium payment term of the base plan
    Minimum Sum Assured Rs 100,000
    Maximum Sum Assured No limit, subject to satisfactory underwriting

    This rider may be selected for a rider term such that the expiry date of the rider does not exceed the base policy's expiry date.

    The maximum Sum Assured shall not exceed the Sum Assured of the base policy to which this rider is attached. In addition, the maximum rider sum assured as a proportion of base policy sum assured will be as per the prevailing regulations

What about premiums?

Please consult your Financial Consultant to know your premium amount. The premium payment frequency for the rider will be same as frequency of the base plan. For individual policies where no commission is payable, a 3.5% discount will apply to the tabular premium rates

What is the benefit?

In the event of Total Permanent Disability due to accident, you will be paid a regular monthly income equal to 1% of Sum Assured for a fixed period of 10 years. The total benefit payable should be less than or equal to Sum Assured of the base policy to which this rider is attached. In case the death of the life assured occurs while the benefit payments are outstanding then the nominee will continue to receive the outstanding monthly benefit payments.

What is Total Permanent Disability?

Total Permanent Disability means when the insured is totally, continuously and permanently disabled and meets either of the two definitions below

Part 1: Unable to work:

Disability as a result of injury or accident and is thereby rendered totally incapable of being engaged in any work or any occupation or employment for any compensation, remuneration or profit and he/she is unlikely to ever be able to do so.

Part 2: Physical Impairments:

The life assured suffers an injury/accident due to which there is total and irrecoverable loss of:

  1. The use of two limbs; or
  2. The sight of both eyes; or
  3. The use of one limb and the sight of one eye; or
  4. Loss by severance of two or more limbs at or above wrists or ankles; or
  5. The total and irrecoverable loss of sight of one eye and loss by severance of one limb at or above wrist or ankle.

The disabilities as stated above in Part (1) and (2) must have lasted, without interruption, for at least 6 consecutive months and must, be deemed permanent by a medical practitioner*. The benefit will commence upon the completion of this uninterrupted period of 6 months. However, for the disabilities mentioned in (d) and (e) under Part (2), such 6 months period would not be applicable and the benefit will commence immediately

Is there any waiting period?

There is no waiting period.

Is there any Death benefit?

What is the grace period? What is the Paid Up Benefit available? The rider aims to provide regular income so that you and your family are financially secure on occurrence of Disability due to accident and hence no death benefit is payable.

Is there any Maturity benefit?

There is no maturity benefit available under this rider

What is the grace period?

The grace period depends on the premium payment frequency and will be as applicable under the base policy to which this rider is attached. If the rider premium due remains unpaid by the end of the grace period, the rider benefit will cease. No benefits in respect of this rider will be payable in case of lapsed policies

What is the Paid up Benefit available?

There is no Paid Up benefit available. If you stop paying your rider premiums during the premium paying term the benefit will cease and the rider will lapse.

Can I Surrender the Benefit?

You can surrender the Rider benefit only after the premium paying term. After completion of the premium paying term the following surrender benefit would be payable:

Premium Pay Surrender Value
Single pay & Limited Pay 70% x Total Premiums Paid x Unexpired Coverage Term Original Coverage Term
Regular Pay No Surrender Value

What is not covered under this policy?

The benefit will not be paid if the disability has not persisted for at least 6 consecutive months and is not in the opinion of a medical practitioner*, deemed to be permanent.

  • A Medical practitioner is a person who holds a valid registration from the medical council of any state of India and is thereby entitled to practice medicine within its jurisdiction; and is acting within the scope and jurisdiction of his license but excluding the Practitioner who is:
  • Insured/Policyholder himself or an agent of the Insured
  • Insurance Agent, business partner(s) or employer/employee of the Insured or
  • A member of the Insured's immediate family

The rider benefit will not be paid due to:

  1. Pre-existing condition
  2. Disability directly or indirectly, wholly or partly due to an Acquired Immuno-Deficiency Syndrome (AIDS) or infection by any Human Immunodeficiency Virus (HIV).
  3. Taking part in any hazardous sport or pastimes (including hunting, mountaineering, racing, steeple chasing, bungee jumping, etc)
  4. Self-inflicted injury, attempted suicide-whether sane or insane
  5. Nuclear reaction, radiation or nuclear or chemical contamination
  6. Life Assured flying in any kind of aircraft, other than as a bona fide passenger (whether fare – paying or not) on an aircraft of a licensed airline
  7. Under influence or abuse of drugs, alcohol, narcotics or psychotropic substance not prescribed by a registered medical practitioner
  8. War, civil commotion, invasion, terrorism , hostilities (whether war be declared or not)
  9. The Life Assured taking part in any strike, industrial dispute, riot etc
  10. The Life assured taking part in any criminal or illegal activity with a criminal intent or committing any breach of law

What are other terms & conditions?

  • Free-look Period : On cancellation of base policy during the free-look period, the company shall refund the rider premium less the cost of cover less the stamp duty.
  • Nomination : Nomination for this Rider Policy shall be as per the Nomination Schedule under the Main Policy.
  • Alterations : Rider term and sum assured cannot be altered. The premium payment frequency of the rider can be changed if the premium payment frequency on the base product is changed. The premium payment frequency of the rider cannot be changed independently from the base policy
  • Assignment and Transfer : This Rider Policy cannot be assigned independently. However the Rider Policy can be assigned jointly with the Main Policy as per section 38 of the Insurance Act, 1938 as amended from time to time.
  • Section 41 of the Insurance Act, 1938 as amended from time to time : No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer. Provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taken out by himself on his own life shall not be deemed to be acceptance of a rebate of premium within the meaning of this sub-section if at the time of such acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer. Any person making default in complying with the provisions ofthis section shall be liable for a penalty which may extend to ten Lakh rupees.
  • Non-Disclosure : Section 45 of the Insurance Act, 1938 as amended from time to time: 1. No policy of life insurance shall be called in question on any ground whatsoever after the expiry of three years from the date of the policy, i.e., from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later. 2. A policy of life insurance may be called in question at any time within three years from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later, on the ground of fraud: Provided that the insurer shall have to communicate in writing to the insured or the legal representatives or nominees or asignees of the insured the grounds and materials on which such decision is based. 3. Notwithstanding anything contained in sub-section (2), no insurer shall repudiate a life insurance policy on the ground of fraud if the insured can prove that the mis-statement of or suppression of a material fact was true to the best of his knowledge and belief or that there was no deliberate intention to suppress the fact or that such mis-statement of or suppression of a material fact are within the knowledge of the insurer: Provided that in case of fraud, the onus of disproving lies upon the beneficiaries, in case the policyholder is not alive
  • Service Tax : As per the current service tax laws, service tax is applicable on the life insurance premiums. Any other taxes or statutory levy becoming applicable in future may become payable by you by any method including by levy of an additional monetary amount in addition to the premium.

HEALTH PLANS

Health is the most important asset you have. Every aspect of your life is dependent on your good health. Due to changing lifestyles, health issues have escalated, thus imposing extra financial burden on the family. It becomes imperative therefore to have a health insurance product in place, to ensure that no matter how critical your illness, it does not impair your financial security.Keeping the above in mind, we have developed a health insurance product which will provide a lump sum amount if you are hospitalized or undergo any Surgical Procedure or are diagnosed with Critical Illness.

Critical Illness Insurance?

Critical illness insurance provides a lump-sum payment in-case the policyholder is diagnosed of a health related condition of a serious nature. Some of these common critical illnesses include: Heart attack, Cancer, Paralysis, Coronary artery bypass surgery, Major organ transplant (e.g. heart, lung, liver, and pancreas), Stroke, and Kidney Failure.

Features

  • Comprehensive, fixed benefit, health insurance plan that provides coverage against Critical Illness, Surgeries & Hospitalization
  • Flexibility to choose between 1, 2 or all 3 benefits. Customize your health plan based on your requirement by opting any one of 7 Plan Options
  • Lump sum payout upon diagnosis of any one of 18 Critical Illnesses
  • Lump sum payout against 138 Surgical Procedures
  • Daily Hospital Cash Benefit in case of hospitalization
  • Simplified issuance process, no requirement to undergo any medicals
  • Flexibility to pay Regular or Single premium based on your convenience
  • Tax Benefits subject to provisions contained under Section 80D of the Income Tax Act 1961

Advantages

  • Option to choose 1,2 or all 3 of the following benefits under this plan
    1. Daily Hospital Cash Benefit
    2. Surgical Benefit
    3. Critical Illness Benefit
    4. Daily Hospital Cash Benefit :
      1. 1% and 2% of Sum Insured shall be payable per day in case of Hospitalization on admission into Non ICU room and ICU Room respectively
      2. Benefit payable shall be for a maximum of 20 days (for Non ICU room) and 10 days (for ICU room) per year
      3. Benefit payable shall be for a maximum of 60 days (for Non ICU room) and 30 days (for ICU room) during the policy term
    5. Surgical Benefit
      1. Lump sum payout up to 100% of the Sum Insured against 138 surgeries, based on the severity of the surgery
    6. Critical Illness Benefit:
      1. 100% of the Sum Insured shall be payable in case diagnosed with any one of 18 Critical Illnesses specified
  • Multiple claims up to 100% of the Sum Insured shall be allowed under Daily Hospital Cash Benefit and Surgical Benefit
  • Hassle free policy issuance without any Medical Underwriting
  • Please read the Sales Brochure carefully for more terms and conditions

Eligibility

Details Minimum Maximum
Entry Age 18 Years 65 years
Maturity Age 23 years 70 years
Policy Term 5 Years
Premium Payment Mode Onetime payment (Single premium) ; Annual (Regular Premium)
Premium Paying Frequency Single / Regular
Sum Assured Option 1 : Rs 25,000
Option 2 : Rs 50,000
Option 3 : Rs 75,000
Option 4 : Rs 1,00,000
Option 5 : Rs 1,50,000
Option 6 : Rs 2,00,000
Option 7 : Rs 2,50,000
Option 8 : Rs 3,00,000
Option 9 : Rs 4,00,000
Option 10 : Rs 5,00,000

Note: Age will be as on last birthday

Survival Period : A 30 days survival period between the date of diagnosis of a Critical Illness and the date of eligibility for benefit payment would be applicable

Waiting Period :

  • 60 days waiting period shall be applicable for Daily Hospital Cash Benefit and Surgical Benefit
  • 90 days waiting period shall be applicable for Critical Illness Benefit
  • 1 year and 2 year waiting period shall be applicable for specific conditions
  • Waiting period shall not be applicable for hospitalization or any specified surgery undergone or critical illness (such as major head trauma) due to an accident

No one wants to get diagnosed with Cancer, but the fact is that the risk of getting cancer is high. Cancer in India is rising at an alarming rate and it can happen to anyone. Cancer not only adversely impacts our health but also the savings and expenses of the family. Most of us are not financially ready to fight against Cancer. Instead of believing that “I will not be the one” we suggest you to insure yourself, right away, with HDFC Life Cancer Care, a unique and comprehensive Cancer insurance policy, which enables you and your family to stay financially and mentally secured in case of Cancer diagnosis. HDFC Life Cancer Care offers lump sum benefit on diagnosis of Cancer that helps to protect your income and savings from expenses that aren't covered by your major medical coverage, like Out of pocket medical expenses, Out of Network specialist, Experimental Cancer Treatment, Travel & Lodging etc. when treatment is far and so on

Features

  • Comprehensive Cancer Care plan that offers lump sum benefit on diagnosis of Early Stage and Major Cancer
  • Flexibility to choose from 3 plan options with varied benefits:
    1. Silver Option
    2. Gold Option
    3. Platinum Option
  • Waiver of Premium Benefit in case of diagnosis of Early Stage Cancer in all options
  • In case of no claims, the Sum Insured increases by 10% annually under Gold and Platinum Option
  • In case of no claims, the Sum Insured increases by 10% annually under Gold and Platinum Option
  • Monthly Income of five years in case of diagnosis of Major Cancer under Platinum Option
  • Offers Premium discounts for Sum Insured above Rs 10 Lakhs
  • Simplified issuance process, no requirement to undergo any medicals
  • Tax benefits subject to provisions contained under section 80D of the Income Tax Act 1961

Advantages

  • Benefits offered under the various Plan Options:
  • Silver Option : Offers lump sum benefit on diagnosis of Cancer as per the table below:
    Diagnosis of % of Applicable Sum Insured
    Early Stage cancer or Carcinoma-in-situ (CIS) 25
    Major Cancer 100 less Early Stage Cancer or CIS claims, if any
  • Waiver of Premium: On a valid claim of Early Stage Cancer or Carcinoma-in-situ (CIS) diagnosis, premiums will be waived for a period of 3 policy years.
  • Gold Option : In addition to the above benefit under this option Increased Benefit is also payable. In Increased benefit, the Sum Insured increases by 10% of initial Sum Insured each year starting from the first policy anniversary. This will continue till the earlier of:
    1. Increased Sum Insured becoming 200% of the Initial Sum Insured or
    2. Any claim event
  • Platinum Option : In addition to the benefit offered under Gold Benefit, this option offers monthly income of 1% of applicable Sum Insured for 5 years, on diagnosis of listed Major Cancer.
  • Offers Premium discounts for Sum Insured above Rs 10 Lakhs

Eligibility

Details Minimum Maximum
Entry Age 18 years 65 years
Maturity Age 28 years 75 years
Policy Term 10 years 20 years
Sum Assured 10 Lakhs 40 Lakhs
Premium Frequency Annual, Half-yearly, Quarterly or Monthly
  • Survival Period : 7 day survival period between the date of diagnosis of a condition and the date of eligibility for a benefit payment would be applicable.
  • Exclusions : No benefit shall be payable under the policy in respect of any Major Cancer, Carcinoma-in-situ or Early Stage Cancer resulting directly or indirectly from or caused or contributed by (in whole or in part) :
  • Sexually Transmitted Diseases AIDS or HIV.
  • Any congenital conditions
  • Any pre-existing condition
  • Intoxication by alcohol or narcotics or voluntarily taking or using any drug, medication or sedative unless it is an "over the counter" drug, medication or sedative taken according to package directions;
  • Nuclear, biological or chemical contamination (NBC),
  • The policy shall terminate and no benefit shall be payable under the policy if the
    1. diagnosis or
    2. Signs or symptoms (related to the diagnosed cancer)

first occurred during the waiting period.

HDFC Life Health Assure Plan, a comprehensive, pure protection health & medical insurance plan that reimburses medical expenses incurred in a hospital. It is an individual as well as family health insurance plan that provides an option to secure you & your family’s medical needs.

Features

  • Stress is but a by-product of today’s hectic lifestyle. Ironically you strive hard to give best of everything to your family only to develop stress which ultimately takes a toll on your health. Under emergencies, it also impairs your finances. Under such a situation your cash flows are compromised. You might even need to liquidate some assets or worse borrow money. Your existing investments towards retirement planning, planning for child’s education, among other financial commitments will also be compromised. Under the circumstances, it is extremely important to take a comprehensive health insurance plan which can cover you against medical emergencies. Presenting HDFC Life Health Assure Plan, a comprehensive, pure protection health insurance policy & family floater health plan that reimburses medical expenses incurred in a hospital.
  • Flexibility to choose from 2 plan types:
    1. Individual
    2. Family floater for your spouse, children, both parents and parents-in-laws
  • Flexibility to choose from 2 plan options with varying sum assured limits and benefits:
    1. Gold plan
    2. Silver plan
  • Flexibility to opt for 2 more optional* benefits:
    1. Room Rent Enhancement: This option eliminates the sub-limit on room rent and provide more flexibility to choose room
    2. Restore Benefit Option: Under this option the Sum Insured is restored to the original level if basic Sum Insured & multiplier benefit is exhausted due to claims made.
  • Premium Guarantee for 3 years even if you make a claim
  • Automatically doubles your cover after 2 claim free years
  • Guaranteed Lifetime Renewability
  • Cashless Claim Service at specified Network Hospitals across India

Advantages

  • Premium guarantee for 3 years - premium remains same even if you make a claim
  • Multiplier Benefit - Your cover doubles after 2 claim free years at no extra premium
  • Guaranteed Lifetime Renewability- If you pay premiums in time and the policy continues without any break in cover, then the plan offers guaranteed renewability for life time. Please see the product brochure for details
  • Following benefits are included depending on the gold/silver plan option selected:
    1. Inpatient Hospitalisation Benefit
    2. Day Care Benefit
    3. Pre and Post Hospitalisation Benefit
    4. Emergency Ambulance Benefit
    5. Donor Expense Benefit
    6. Maternity Benefit
    7. Hospital Cash Benefit
  • Following benefits are included depending on the gold/silver plan option selected:
  • Flexibility to customize your plan with 2 more optional* benefits:
    1. Room Rent Enhancement: This option eliminates the sub-limit on room rent and provide more flexibility to choose room
    2. Restore Benefit Option: Under this option the Sum Insured is restored to the original level if basic Sum Insured & multiplier benefit is exhausted due to claims made.
  • Wellness Benefit for Gold Plan option - get health check-up vouchers in 2ndpolicy year of every 3 year term
  • Tax benefits subject to provisions contained under section 80D of the Income Tax Act 1961

Eligibility

Plan Type-Individual

Plan Option-Silver sum Insured 3 lacs
Gold sum Insured 5 lacs

Plan Type-Family Floater

Plan Option-Silver sum Insured 3-5 lacs
Gold sum Insured 7-10 lacs
  • You have Flexibility to customize a plan as per your and your family's needs.
  • Sum insured is the maximum amount of claim per policy per year that can be availed. This amount may increase in subsequent years due to Multiplier Benefit (please refer to the Multiplier benefit Section for Details
  • Plan Details: Age and policy term limits for HDFC Life Health Assure Plan Are as Follows:
    Minimum entry age for Adults and Policy holder 18 years
    Minimum entry age for Dependent Children 91 years
    Maximum entry age for both 70 years
    Policy Term Whole Life
    Premium frequency Annual
  • Age has to be taken as of "last birthday" basis

Exclusion clause

The claim is treated as invalid under the following conditions :

  1. Claims occurring within 30 days of the First coverage commencement date or Reinstatement Date whichever occurs later, except where the benefits become payable in case of an Accident
  2. Claims arising from the listed conditions and treatment thereof until twenty four(24) months of continuous coverage have elapsed since the First coverage commencement date or Reinstatement Date whichever occurs later.
    ENT Gastrointestinal
    Adenoid and Tonsillar Disorder Surgery of gallbladder and bile duct stones
    Deviated Nasal Septum / Nasal & Paranasal Sinus Disorders Gastric/Duodenal Ulcer
    Thyroid surgery for benign conditions All types of Hernia, Hydrocele
    Functional endoscopic sinus surgery Hemorrhoids, Anal Fissure, Fistula, Rectal prolapse, pilonidal sinus
    Gynaecological Urogenital
    Benign breast disorder Surgery of urinary stones
    Myomectomy, Hysterectomy with or without Bilateral salphingo-Opherectomy excluding malignancy Benign enlargement of prostate gland
    Orthopaedic Varicocele, spermatocele
    Carpal tunnel syndrome Treatment for Chronic renal failure or end stage renal failure
    PIVD(unless due to accident) Others
    Osteoporosis, Gout and Rheumatism Skin conditions
    Osteoarthritis and Degenerative joint disorders Varicose Veins/Ulcers
    Knee/Joint Replacement Surgery (other than caused by an accident). Vitrectomy/Detachment surgery for Retinopathy
    For Knee replacement, Actual expenses incurred subject to a maximum of Rs.1.5 Lakhs whichever is lower, per life insured per knee per annum will be payable after the waiting period is over.
    Cataract and age related eye conditions. Actual expenses incurred subject to a maximum of Rs. 20,000 per eye per life insured per annum will be paid towards Cataract after the Waiting period
    Diabetes and related treatments
  3. Claims for any Pre-Existing condition(s) until thirty six (36) months of continuous coverage have elapsed since First coverage commencement date or Reinstatement Date, whichever occurs later.
  4. Claim under Maternity Benefit until thirty six (36) months of continuous coverage have elapsed since the First coverage commencement date or Reinstatement Date, whichever occurs later.
  5. Claims in respect of any Life Insured if it is directly or indirectly caused by, arises from, or is in any way attributable to any exclusion and/or restriction mentioned in the Policy Schedule.
  6. Claim in respect of any Life Insured if it is directly or indirectly caused by, arises from, or is in any way attributable to for Treatment received outside India, Non Allopathic and Experimental Treatment and etc*. *Please refer to policy terms and conditions for details.

HDFC YOUNGSTER PLANS

Since the birth of the child, parents make sincere efforts to ensure that their child can dream big without having second thoughts. We, at HDFC Life, are here to help you empower your child’s dreams and live the rest of your life as the proud parents you deserve to be.

Presenting the HDFC Life YoungStar Udaan, a traditional participating insurance plan. This plan is ideal for parents who wish to make provision for:

  1. Academic expenses that occur prior to college education
  2. Specific goals like college fees or marriage expenses etc
  3. All miscellaneous and extracurricular expenses that occur during college/school

Features

  1. Aspiration (Endowment benefit) – Lumpsum payout at maturity
  2. Academia (Moneyback benefit) – payouts during last 5 policy years with first guaranteed payout higher than subsequent guaranteed payouts
  3. Career (Moneyback benefit) – payouts during last 5 policy years with last guaranteed payout higher than previous guaranteed payouts
  • Two Death Benefit options to choose from based on which death benefit payable are decided
    1. Classic: Policy Terminates after payment of death benefit
    2. Classic Waiver: Policy continues after payment of death benefit + Future Premiums waived
  • Limited PPT of 7, 10 or Policy term minus 5 years
  • Flexibility to choose your policy term from 15 to 25 years as per your child’s future needs
  • Guaranteed Additions1 during first 5 policy years, if applicable
  • Participating plan with accrued bonuses payable at maturity
  • Option to take this policy by filling a Short Medical Questionnaire (SMQ)2.
  • Tax Benefits3 under Section 80C and Sec 10(10D) of Income Tax Act 1961

Advantages

  • Survival/Maturity Benefits: The table below specifies the series of money back/endowment payouts, payable at the end of each year, for a premium paying or a fully paid-up policy.
    Year Of Payment Aspiration Academia Career
    5th year before Maturity - 30% Of SA 15% Of SA
    4th year before Maturity - 15% Of SA 15% Of SA
    3rd year before Maturity - 15% Of SA 15% Of SA
    2nd year before Maturity - 15% Of SA 15% Of SA
    1st year before Maturity - 15% Of SA 15% Of SA
    At Maturity 100% Of SA + GA + accured bonuses 15% Of SA + GA + accured bonuses 15% Of SA + GA + accured bonuses
    Total 100% Of SA + GA + accured bonuses 105% Of SA + GA + accured bonuses 115% Of SA + GA + accured bonuses

    SA: Sum Assured on maturity. GA: Guaranteed Additions

  • Death : Benefit The table below captures the available death benefits during the policy term under various options.
    Death Benefit Options Death Benefits
    Classic Basic Death benefit + Accrued Guaranteed Additions + Accrued Bonuses, if any
    Classic Waiver Basic Death benefit + Premium Waiver

    The table below describes each of the above benefits in detail.

    Basic Death Benefit The basic death benefit shall be the higher of:
    1. Sum Assured on Death
    2. 105% of Premiums paid The Sum Assured on Death shall be the higher of:
    3. Sum Assured on Maturity^
    4. 10 times Annualised Premium for entry age up to 50 years and 7 times Annualised Premium for entry age greater than 50 years
    Premium Waiver All future outstanding premiums under the policy will be waived. The contract shall continue and the benefits as per Survival benefit and Maturity Benefit shall be available.

    For the purpose of computation of Death Benefit, the premiums shall exclude any underwriting extra premiums, any loadings for modal premiums and any taxes paid such as service tax and education cess.

  • Eligibility
    Eligibility Criteria Death Benifits Options Maturity Benifits Options Maximum Minimum
    Age At Entry Classic Option 1-Aspiration 0 years 60 Years
    Option 2- Academia 8 years
    Option 3- Career
    Classic Waiver All Options 18 Years 55 Years
    Age At Maturity Classic Option 1-Aspiration 18 years 75 Years
    Option 2- Academia 23 years
    Option 3- Career
    Classic Waiver All Options 33 Years 75 Years
    Policy Terms 15 Years 25 Years
    Premium Payment Term 7,10 or Policy term minus 5 Years

    All ages mentioned above are age last birthday. The minimum entry age and the policy term selected shall be such that the maturity age limits are met.

Children insurance plans help build savings so that over time there is enough to finance your child’s education, marriage, house or car. HDFC SL YoungStar Super Premium, a unit-linked insurance plan (ULIP) designed to accumulate savings for your child's future, even in your absence.

Features

  • Every parent naturally wants the best for his or her child in every sphere, particularly education. Best-in-class education is no longer a luxury; it’s a must-have for anyone who wants to excel in his or her career. But that is easier said than done, given the escalating cost of education at premier institutes coupled with increasing competition. Fortunately for you, help is at hand. Children insurance plans help build savings so that over time there is enough to finance your child’s education, marriage, house or car.
  • Flexibility to choose from 4 funds to suit your risk appetite:
    1. Income Fund : Higher potential returns due to higher duration and credit exposure.
    2. Balanced Fund : Dynamic equity exposure to enhance the returns while the debt allocation reduces the volatility.
    3. Blue chip Fund : Investments in large cap equities.
    4. Opportunities Fund : 4. Investments in mid-cap equities.
  • Flexibility to select premium amount – no ceiling on maximum premium
  • In case of no claims, the Sum Insured increases by 10% annually under Gold and Platinum Option
  • Flexibility to select the Sum Assured

Advantages

  • Save Benefit - In case of unfortunate death of the parent or a critical illness
    1. Sum Assured is paid to the beneficiary (child)
    2. No need to pay any further premiums as we will pay 100% of the future premiums
    3. On maturity, fund value is again paid to the beneficiary
  • Save-n-Gain Benefit - In case of unfortunate death of the parent or a critical illness
    1. Sum Assured is paid to the beneficiary (child)
    2. No need to pay further premiums as we will pay 50% of the future premiums towards the policy and 50% of the premiums to the beneficiary on the premium due date
    3. On maturity, fund value is paid to the beneficiary
  • Customize a plan suited for your child with the premium, Sum Assured and the plan option of your choice
  • Manage your investment fund(s) either by switching across fund options or re-directing future premiums into a different fund option
  • Hassle-free policy issuance on the basis of a Short Medical Questionnaire eliminating tedious medical tests
  • Tax benefits subject to provisions contained under sections 80C and 10(10D) of the Income Tax Act 1961
  • Paying premiums is convenient with access to multiple modes– credit card, internet banking, cheque, auto debit facility

Eligibility

Life Option

Min-Max entry age 18-65 years
Maximum age at maturity 75 years
Min-Max Policy Term 10-20 years

Life and Health Option

Min-Max entry age 18-55 years
Maximum age at maturity 65 years
Min-Max Policy Term 10-20 years

HDFC RETIREMENT PLANS

"HDFC Life Assured Pension Plan – ULIP" is a Unit Linked Plan that offers you market linked returns, with Loyalty additions and helps you achieve your retirement goals by planning well in advance.

  • Secure your retirement with assured vesting benefit and also gain from upside in the market
  • Loyalty additions in the form of Pension Multipliers every alternate year, starting in the 11th year
  • Option to start as early as 18 years
  • Lower vesting/maturity age of 45 years
  • Limited Pay & Single Pay – Options available in one product
  • Death benefits to the nominee which will be higher of the fund value of your policy at the time of death or 105% of premiums paid till then
  • Tax Benefits1 under Section 80C and Sec 10(10D) of Income Tax Act 1961

Advantages

  • Pension Multiplier Loyalty additions in the form of Pension Multipliers will be added to the fund value, if all due premiums have been paid, every alternate year starting from the end of 11th policy year. These additions will be equivalent to 1% of average fund value for immediately preceding two years
  • Vesting Benefit: Your policy vests at the end of the policy term, and your Maturity (Vesting) Benefit will be the higher of the following
    Fund Value or Assured Vesting Benefit
    Assured Vesting Benefit can be calculated as:
    [101% +1% * (Policy Term minus Premium Paying Term)] * Total premiums paid
  • Deferment of vesting date
    1. The deferment of vesting date (retirement date) can be intimated any time before annuitisation.
    2. You can postpone the vesting date any number of times subject to the maximum vesting age of 75 years,provided you are below an age of 55 years.
    3. On postponement of vesting date, Assured Vesting Benefit and Death Benefit will continue to apply. The Assured Vesting Benefit will be the same as that calculated on the policy term chosen at the inception of the policy.
    4. The funds will move to Pension Conservative Fund and all applicable charges will continue to be deducted.
  • Death Benefit : In case of your unfortunate demise before the end of policy term, your nominee will receive the higher of the following: Fund Value,
    1. 105% of the premium(s) paid.
    2. The policy will terminate thereafter and no more benefits will be payable.
  • Charges : Premium Allocation Charge: This is a premium-based charge. After deducting this charge from your premium, the remainder is invested to buy units. The remaining percentage of your premium that is invested to buy units is called the Premium Allocation Rate. This charge is guaranteed for the term of the policy.
  • For Regular & Limited Pay Option
    Premium Allocation Charge(as % of Premium) Annual Mode Non-Annual Modes
    Year 1 - 5 5% 3.9%
    Year 6 onwards 4% 3.9%
  • For Single Premium Pay Option
    Premium Band Premium Range Premium Allocation Charge(as % of Single Premium)
    Band 1 Upto Rs. 9,99,999/- 2.5%
    Band 2 Rs. 10,00,000/- to Rs. 24,99,999/- 1.5%
    Band 3 Rs. 25,00,000/- and above 1.0%
  • Fund Management Charge: The Fund Management Charge is 1.35 % p.a. of fund value. This charge is charged daily, and is a percentage of the unit funds. The Fund Management Charge for Discontinued Policy Fund shall be 0.50% p.a. These charges are guaranteed for the entire policy term. This charge may be increased to the maximum cap allowed by IRDAI, subject to prior approval from them
  • Policy Administration Charge:
    Year For Regular and Limited Pay Options(as % of annualised premium) For Single Pay Option(as % of Single Premium)
    Year 1 to 5 0.18% per month 2.5%
    Year 6 onwards 0.50% per month 1.5%
    0.09% per month
  • This charge will be levied by cancelling units from the fund. This charge will be deducted monthly, subject to a maximum charge of Rs. 500 per month.
  • This charge may be increased subject to prior approval from IRDAI and is subject to the cap of Rs 500 as mentioned above.
  • Investment Guarantee Charge:
    Pension Equity Plus Fund SFIN - ULIF06001/04/14PenEqPlsFd101 0.50% p.a.
    Pension Income Fund SFIN - ULIF06101/04/14PenIncFund101 0.50% p.a.
    Pension Conservative Fund SFIN - ULIF06201/04/14PenConsvFd101 0.10% p.a.
  • This charge is charged daily, and is a percentage of the unit funds. This charge is charged only while the policy is in-force and is not charged on the ‘Discontinued Policy Fund’. This charge can be increased to the maximum cap as allowed by IRDAI, subject to prior approval from IRDAI. Currently, the maximum cap on this charge is 0.50%.
  • Statutory Charges : The Statutory Service Tax and Education Cess as applicable would be charged
  • Discontinuance Charge : The Statutory Service Tax and Education Cess as applicable would be charged
  • The discontinuance charges for Regular & Limited pay policies are as follows
    Where the policy is discontinued during the policy year Discontinuance charges for policies having annualised premium up to and including Rs.25,000/- Discontinuance charges for policies having annualised premium above Rs.25,000/-
    1 Lower of 20% * (AP or FV) subject to maximum of Rs. 3,000/- Lower of 6% (AP or FV) subject to maximum of Rs. 6,000/-
    2 Lower of 15% * (AP or FV) subject to maximum of Rs. 2,000/- Lower of 4% * (AP or FV) subject to maximum of Rs. 5,000/-
    3 Lower of 10% * (AP or FV) subject to maximum of Rs.1,500/- Lower of 3% * (AP or FV) subject to maximum of Rs.4,000/-
    4 Lower of 5% * (AP or FV) subject to maximum of Rs.1,000/- Lower of 2% * (AP or FV) subject to maximum of Rs.2,000/-
    5 and Onwards NIL NIL

    AP – Annual Premium

    FV – Fund Value on the date of discontinuance

  • The discontinuance charges for Single Pay policies are as follows
    Where the policy is discontinued during the policy year Discontinuance Charges for policies having single premium above Rs.25,000/-
    1 Lower of 1% * (SP or FV) subject to maximum of Rs.6,000/-
    2 Lower of 0.5% * (SP or FV) subject to maximum of Rs.5,000/-
    3 Lower of 0.25% * (SP or FV) subject to maximum of Rs.4,000/-
    4 Lower of 0.1% * (SP or FV) subject to maximum of Rs.2,000/-
    5 and onwards NIL

    SP – Single Premium

    FV – Fund Value on the date of discontinuance

    This charge will be deducted by cancellation of units.

  • Miscellaneous Charge(s): Any Policy alteration request initiated by the policyholder will attract a charge of Rs. 250 per request. This charge may be increased subject to an upper limit of Rs. 500, subject to prior approval from IRDAI. This charge will be levied by cancellation of units.
  • This is a unit linked plan; the premiums you pay in this plan are subject to investment risks associated with the capital markets. The unit prices of the funds may go up or down, reflecting changes in the capital markets.
    FUND SFIN DETAILS ASSET CLASS RISK & RETURN RATING
    Money Market Instruments, Cash & Deposits Government Securities, Fixed Income Instruments & Bonds Equity
    FUND COMPOSITION
    Pension Equity Plus Fund ULIF06001/04/14 PenEqPlsFd101 To generate long term capital appreciation in line or better than Nifty index returns 0% to 20% 0% to 20% 80% to 100% Very High
    Pension Income Fund ULIF06101/04/14PenIncFund101 To deliver High potential returns due to investments in instruments with higher duration and credit exposure 0% to 20% 80% to100% - Moderate
    Pension Conservative Fund ULIF06201/04/14PenConsvFd101 To invest in high grade fixed income instruments and Government securities at the short end of the yield curve,to deliver stable returns 0% to 60% 40% to 100% - Low

Eligibility

Entry Age and Vesting Age
Age at entry Minimum 18 years
Maximum 65 years
Vesting Age Minimum 45 years
Maximum 75 years
Premium Payment Term (Years) Policy Term (Years)
Single Pay 10, 15 to 35
8 Pay 10, 15 to 35
10 Pay 10, 15 to 35
15 Pay 15 to 35

WHAT ARE THE LIMITS FOR MINIMUM AND MAXIMUM PREMIUMS?

There is no limit on the maximum premium which you can pay. The minimum premiums required will depend on choice of option and premium payment frequency that you choose

Premium / Payment Frequency Regular & Limited Pay Options Single Pay Options
Minimum Premium Annual 24000 NA
Half Yearly 12000 NA
Quarterly 6000 NA
Monthly 2000 NA
Single Pay NA 50000
Maximum Premium No Limit

HDFC Life Click 2 Retire – ULIP” is an online Unit Linked Plan that offers you market linked returns, with minimal charges and helps you achieve your retirement goals by planning well in advance.

Features

  • Every parent naturally wants the best for his or her child in every sphere, particularly education. Best-in-class education is no longer a luxury; it’s a must-have for anyone who wants to excel in his or her career. But that is easier said than done, given the escalating cost of education at premier institutes coupled with increasing competition. Fortunately for you, help is at hand. Children insurance plans help build savings so that over time there is enough to finance your child’s education, marriage, house or car.
  • Secure your retirement with Assured Vesting Benefit and also gain from upside in the market
  • Option to start as early as 18 years
  • Lower vesting/maturity age of 45 years
  • Regular, Limited Pay & Single Pay – Options available in one product
  • Death benefits to the nominee which will be higher of the fund value of your policy at the time of death or 105% of premiums paid till then

Advantages

  • Vesting Benefit :Your policy vests at the end of the policy term, and your Maturity (Vesting) Benefit will be the higher of the following : Fund Value or Assured Vesting Benefit Assured Vesting Benefit can be calculated as: [101% +1% * (Policy Term minus Premium Paying Term)] * Total premiums paid At vesting (on maturity), you have the opportunity to purchase an annuity from a range of options. You will get guaranteed income for life for yourself and your spouse. You also have the option to commute up to 1/3rd of the benefit at vesting tax-free as per prevailing tax laws
  • Deferment of Vesting Date
    1. The deferment of vesting date (retirement date) can be intimated any time before annuitisation.
    2. You can postpone the vesting date any number of times subject to the maximum vesting age of 75 years, provided you are below an age of 55 years.
    3. On postponement of vesting date, Assured Vesting Benefit and Death Benefit will continue to apply. The Assured Vesting Benefit will be the same as that calculated on the policy term chosen at the inception of the policy.
    4. The funds will move to Pension Conservative Fund and all applicable charges will continue to be deducted.
  • Death Benefit : In case of your unfortunate demise before the end of policy term, your nominee will receive the higher of the following: Fund Value,
    1. 105% of the premium(s) paid. The policy will terminate thereafter and no more benefits will be payable.
    2. Manage your investment fund(s) either by switching across fund options or re-directing future premiums into a different fund option
  • Charges
    1. Premium allocation charge – Nil. 100% of your premiums are invested.
    2. Policy administration charge – Nil.
    3. Fund Management Charge – 1.35% p.a. of the fund value charged daily.
    4. Mortality Charge –Nil.
    5. Discontinuance charge – Nil.
    6. Investment Guarantee charge
      Pension Equity Plus Fund SFIN - ULIF06001/04/14PenEqPlsFd101 0.50% p.a.
      Pension Income Fund SFIN - ULIF06101/04/14PenIncFund101 0.50% p.a.
      Pension Conservative Fund SFIN - ULIF06201/04/14PenConsvFd101 0.10% p.a.
    7. This is a unit linked plan; the premiums you pay in this plan are subject to investment risks associated with the capital markets. The unit prices of the funds may go up or down, reflecting changes in the capital markets.

Eligibility

Entry Age and Vesting Age
Age at entry Minimum 18 years
Maximum 65 years
Vesting Age Minimum 45 years
Maximum 75 years
Premium Payment Term (Years) Policy Term (Years)
Single Pay 10, 15 to 35
8 Pay 10, 15 to 35
10 Pay 10, 15 to 35
15 Pay 15 to 35

WHAT ARE THE LIMITS FOR MINIMUM AND MAXIMUM PREMIUMS?

There is no limit on the maximum premium which you can pay. The minimum premiums required will depend on choice of option and premium payment frequency that you choose

Premium / Payment Frequency Regular & Limited Pay Options Single Pay Options
Minimum Premium Annual 24000 NA
Half Yearly 12000 NA
Quarterly 6000 NA
Monthly 2000 NA
Single Pay NA 50000
Maximum Premium No Limit

SAVINGS & INVESTMENT PLANS

"HDFC Life Assured Pension Plan – ULIP" is a Unit Linked Plan that offers you market linked returns, with Loyalty additions and helps you achieve your retirement goals by planning well in advance.

Features

  • Zero charge structure
  • 8 fund options to choose from as per your investment style
  • Premium Payment options of
    1. Single
    2. Limited: 5 years, 7 years, 10 years
    3. Regular: same as your policy term
  • Flexibility to choose your policy term from 5 to 20 years
  • Tax Benefits2 under Section 80C and Sec 10(10D) of Income Tax Act 1961

Advantages

  • Maturity Benefit : Loyalty additions in the form of Pension Multipliers will be added to the fund value, if all due premiums have been paid, every alternate year starting from the end of 11th policy year. These additions will be equivalent to 1% of average fund value for immediately preceding two years
  • Death Benefit: In case of the Life Assured’s unfortunate demise, we will pay to the nominee the highest of the following:
    1. Sum Assured,
    2. Fund Value,
    3. 105% of the premium(s) paid.
  • The policy will terminate thereafter and no more benefits will be payable.
  • Charges
    1. Premium allocation charge – Nil. 100% of your premiums are invested.
    2. Policy administration charge – Nil.
    3. Fund Management Charge – 1.35% p.a. of the fund value charged daily.
    4. Mortality Charge – levied every month for providing you with the death benefit in your policy. This charge will be taken by cancelling units proportionately from each of the fund(s) you have chosen
    5. Discontinuance charge – Nil. Please note it is always advisable to pay premiums for the full premium paying term and stay invested for the full policy term in order to enjoy maximum benefits.
  • You can invest in a combination of funds by allocating your fund between 8 different fund options

    hdfc saving plans hdfc Eligibility plans
  • All ages mentioned above are age last birthday. The minimum entry age and the policy term selected shall be such that the maturity age limits are met.

Life is full of responsibilities and as a responsible individual you aspire to build a financially secured life for your loved ones. Guaranteed Returns helps you to fulfill your responsibility with ease. Presenting HDFC Life Sanchay, a non-participating insurance plan, that offers guaranteed benefits along with flexibility to choose your investment horizon.

Features

  • Non Participating Traditional Plan with Guaranteed Benefits
  • Limited premium paying term of 5, 8 or 10 years
  • Flexibility to choose the policy term of 15 to 25 years
  • Guaranteed Additions of 8% or 9% of Sum Assured on Maturity to your maturity benefit, accrued at simple rate for each completed policy year
  • The total Guaranteed Maturity Benefit will be between 220% to 325% of Sum Assured on Maturity provided all due premiums have been paid
  • The flexibility to choose premium payment frequency i.e. monthly/quarterly/half-yearly/annually
  • EMI available for HDFC Bank Credit Card holders.

Advantages

  • Limited premium paying term of 5,8 or 10 years with flexibility to choose policy term between 15 to 25 years
  • Financial Protection against untimely demise, throughout the policy term
  • Guaranteed Benefits of 220% to 325% of the Sum Assured on Maturity depending upon the policy term

Life is full of responsibilities and as a responsible individual you aspire to build a financially secured life for your loved ones. Guaranteed Returns helps you to fulfill your responsibility with ease. Presenting HDFC Life Sanchay, a non-participating insurance plan, that offers guaranteed benefits along with flexibility to choose your investment horizon.

Features

  • As you approach different stages in life, there are dreams and aspirations that you set out for yourself and your family. But this does not set you free from the day to day responsibilities of managing house, paying for health expenses, school fees etc. To help you ensure that none of this is compromised for the other, we offer you a money back plan such that you can fulfill your dreams uninterrupted.
  • Enjoy Regular income for a payout period of 8 to 15 years.
  • Your Regular Income comprises of Guaranteed Base Income (GBI) payouts, varying from 8.0% to 12.5% of the Sum Assured on Maturity, payable every year.
  • At the end of policy term you get a Maturity payout , aggregate of accrued bonuses and the last guaranteed payout
  • Your Regular Income and Maturity Benefit will be Tax Free under Sec 10(10D) of Income Tax Act, 1961.
  • Get Tax Benefit on premiums paid under Sec 80C of Income Tax Act, 1961.
  • Choice of Plan options with various combinations of premium payment and policy term to meet your income goals.
  • You can customize your coverage by opting HDFC Life Income Benefit on Accidental Disability Rider that offers monthly Income of 1% of rider Sum Assured in the event of Total Permanent Disability due to accident for a fixed period of 10 years.
  • The flexibility to choose the premium payment frequency i.e. monthly/quarterly/half-yearly/annual.

Advantages

  • Limited premium paying term of 8, 10 or 12 years
  • Guaranteed Income every year for a period of 8, 10, 12 or 15 years.
  • Financial Protection against untimely demise, throughout the premium payment term as well as the payout period
  • You can opt for hassle-free issuance on the basis of a Short Medical Questionnaire eliminating tedious medical tests

Eligibility

Min- Max Entry Age (years) 2 years (for policy term of 16 years 30 days (for policy terms of 18 to 27 years) 59 (for policy term 16 years)
57 (for policy term 18 years)
55 (for policy term 20 years)
53 (for policy term 22 years)
51 (for policy term 24 years)
48 (for policy term 27 years)
Min- Max age at Maturity (years) 18 75

PLAN OPTIONS

This plan offers range of options which you can select at inception based on your financial goals

Options Premium payment term (years) (A) Payout period (years) (B) Policy term (years) (A+B) As % of Sum Assured on Maturity
Annual GBI paid during payout period (C) Total Guaranteed income for entire payout period (B*C)
Option 1 8 8 16 12.50% 12.5% * 8 = 100%
Option 2 8 10 18 10.00% 10.0% * 10 = 100%
Option 3 10 10 20 12.00% 12.0% * 10 = 120%
Option 4 10 12 22 10.00% 10.0% * 12 = 120%
Option 5 12 12 24 10.00% 10.0% * 12 = 120%
Option 6 12 15 27 8.00% 8.0% * 15 = 120%

Saving for your future is important, but what is also important is to protect those savings. HDFC Life Uday helps you do just that with benefits like guaranteed additions and bonuses while ensuring that your family receives a lump sum benefit in case of your unfortunate death. Save for your future, Protect your family and Sar Utha Ke Jiyo!

Features

  • Low ticket size with monthly premium as low as Rs 500 and annual premium as low as Rs 5000
  • Multiple term options to suit your needs
  • Pay premiums for 8 years, enjoy cover for 12 years or 15 years.
  • Pay premiums for 10 years, enjoy cover for 15 years.
  • Guaranteed Additions1 of 3% p.a. during the first five policy years.
  • Bonuses declared at the end of each financial year
  • Additional death benefit in case of death due to accident.
  • Once your policy acquires a Guaranteed Surrender Value (GSV), your death benefit2continues for next one year even if you miss a premium payment.
  • Simple issuance process

Advantages

  • Maturity
  • On survival till the maturity date you will receive the aggregate of
    1. Sum Assured on maturity
    2. Accrued Guaranteed Additions
    3. Accrued Reversionary bonus, Interim bonus and Terminal bonus, if any HDFC Life Uday

Death

  • In case of the Life Assured’s unfortunate demise, we will pay to the nominee the highest of the following:
    1. Sum Assured on Death + Accrued Guaranteed Additions + Accrued Reversionary Bonuses + Interim bonus (if any) + Terminal bonus (if any)
    2. 105% of premiums paid till date
  • Where Sum Assured on Death is higher of
    1. Sum Assured on Maturity, which is the absolute amount of benefit guaranteed to be payable on maturity of the policy
    2. An absolute amount assured to be paid on death, which in this case is equal to the Sum Assured on Maturity
    3. 10 times Annualized Premium for entry age up to 50 years and 7 times Annualized Premium for entry age greater than 50 years
  • Accidental Death Benefit

    In case of the Life Assured’s unfortunate demise during the term of the policy, an additional sum equal to Sum Assured on Death is payable

    The basic death benefit payable during this one year shall be the higher of:

    1. Sum Assured on Death + Accrued Guaranteed Additions + Accrued Reversionary Bonus (if any) + Interim Bonus (if any) + Terminal Bonus(if any)
    2. 105% of Premiums paid
  • During the auto cover continuance period, The additional accidental death benefit shall be reduced to paid-up Sum Assured on Death.
  • The Guaranteed Additions and Reversionary Bonuses accrued till due date of first unpaid premium shall become payable on death and no further Guaranteed Additions or Reversionary Bonus shall accrue to the policy.

Eligibility

Policy Term 12 Years 15 Years
Premium Paying Term 8 Years 8 Years or 10 Years
Minimum Entry Age 18 Years
Maximum Entry Age 55 Years
Minimum Maturity Age 30 Years
Maximum Maturity Age 70 Years
Minimum Sum Assured on Maturity Rs. 28,465
Maximum Sum Assured on Maturity No Limit subject to Board approved underwriting policy

You have certain financial goals for your family which may vary as you progress from one life stage to another. Therefore your investments also have to be actively managed to meet those goals and also ensure that you are protecting your family financially.

We understand this and therefore are glad to offer HDFC Life Sampoorn Nivesh, a unique insurance cum investment plan designed specifically with multiple fund options so as to help you optimize your investment. Furthermore, it also provides you with varied benefit options to meet your protection needs.

Features

  • Flexibility to choose your investment term from 10 to 25 years
  • Customize your premium payment options – Single, Limited or Regular
  • Choice of 3 Benefit Options to suit your financial requirements
  • Option of accidental death benefit through Extra Life Option
  • Loyalty additions to enhance your Fund Value after 10 years
  • Reduced premium allocation charge on investing higher premium amount
  • Flexibility to choose from 8 fund options

Advantages

HDFC Life Sampoorn Nivesh provides 3 Benefit Options to choose from based on your requirement:

  1. Classic
  2. Classic Plus
  3. Classic Waiver

Death

  • In case of the Life Assured’s unfortunate demise during the policy term, we will pay a lump sum amount to the nominee as mentioned below: HDFC Life Sampoorn Nives Advantages
  • Accidental Death Benefit: Get invaluable protection for your family through Extra Life option in case of Accidental Death
  • Maturity Benefit: On survival till the end of policy term, you will receive your Fund Value as Maturity Benefit
  • Loyalty Additions : Enhance your Fund Value through Guaranteed Loyalty Additions from 10th policy year
  • Reduced Allocation Charge : Optimize your investments through Reduced Premium Allocation Charge by investing higher premium
  • Flexibilities :
    1. Get 4 Fund Switch, Premium Redirection and Partial Withdrawal each absolutely free in a policy year
    2. This plan can be availed by filling short medical questionnaire, which may not require you to go for medicals
    3. Fill a short questionnaire to avoid medical check-ups
  • Tax Benefit: Avail Tax Benefit under Section 80C and Section 10(10D) of Income Tax Act, 1961

HDFC SL Crest, is a short term unit linked insurance (ULIP) investment plan which helps you to achieve your investment goals in a brief period of 10 years along with financial protection for your family. Pay premiums for only 5 years to get market linked returns for a period of 10 years.

Features

  • Get access to high returns through stock market linked investments. Invest your surplus to get both returns and protection for your family, through our 4 fund options, designed to meet your varied investment needs. HDFC SL Crest is a well-managed savings plan that channelizes your money in an optimum manner.
  • Free Asset Allocation: Flexibility to invest in any of the 4 funds available, create your own investment strategy by switching or redirecting future premiums
  • Flexibility to choose sum assured multiple between 10 times to 20 times annual premium
  • No limit on maximum premium
  • In case of your unfortunate demise during the policy term, we will pay the higher of the sum assured (less partial withdrawals) or the total fund value or minimum death benefit (105% of the total premiums paid till date) to your nominee
  • Plan can be availed by filling short medical questionnaire, which may not require you to go for medicals
  • EMI available for HDFC Bank Credit Card holders.

Advantages

  • Get benefit of investing in a shorter horizon. Pay premiums for just 5 years and enjoy a policy term of 10 years
  • Tax benefits under sections 80C and 10(10D) of the Income Tax Act 1961
  • Paying premiums is convenient with access to multiple modes – credit card, internet banking, cheque, auto debit facility

Eligibility

Policy Term 10 years
Min-Max entry age 14-55 years
Maturity age 65 years
Premium payment term 5 years

Age has to be taken as of "last birthday" basis

Regular savings over a long period ensures that a corpus is built to best meet financial goals at various life stages. Presenting HDFC Life Super Savings Plan, a long term savings investment plan to safeguard the financial interests of your loved ones in your absence.

Features

  • Regular premium endowment plan with flexibility to choose a policy term from 15 to 30 years
  • Get an additional sum assured in case of accidental death
  • The plan participates in the profit of the participating fund by way of bonuses
  • The flexibility to choose the premium payment frequency i.e. monthly/quarterly/half-yearly/annual
  • This plan can be taken only on a single life basis
  • EMI available for HDFC Bank Credit Card holders.

Advantages

  • Insurance coverage throughout the policy term
  • Financial protection against untimely demise throughout the policy term
  • Boost your maturity benefit with reversionary bonuses and terminal bonus (if any)
  • You can opt for hassle-free issuance on the basis of a Short Medical Questionnaire eliminating tedious medical tests

Eligibility

Min- Max Entry Age (years) 30 years 60
Min- Max age at Maturity (years) 18 75
Min –Max Policy Term (years) 15 30
Premium Paying Term (years) Same as policy Term

The minimum age at maturity should be 18 years.

All age mentioned above are age last birthday.

HDFC Life ProGrowth Plus, a simple savings-cum-insurance plan that will enable you to enjoy life cover and benefit from comfort of creating your own investment strategies. This ULIP plan will help you to make the most of equities by channelizing your savings effectively.

Features

  • You work hard to achieve your career goals so it’s only natural for you to demand that your money works hard to attain your financial milestones. This is easier said than done, especially since it’s not easy to grow money with challenges of finding the right savings and investment plan that can counter the eroding effects of inflation. Fortunately for you, there is unit-linked insurance plans (ULIPs) that make the most of equities by channelizing your savings effectively.
  • Presenting, HDFC Life ProGrowth Plus, a unit-linked savings-cum-insurance plan (ULIP) that grows your savings by investing in the stock market without compromising on the life cover.
  • Flexibility to choose from a range of funds:
    1. Income Fund
    2. Balanced Fund
    3. Blue Chip Fund
    4. Opportunities fund
  • Flexibility to choose sum assured
  • EMI available for HDFC Bank Credit Card holders.

Advantages

  • Flexibility to choose from the following plan options:
    1. Life Option = Death Benefit
    2. Extra Life Option = Death Benefit + Accidental Death Benefit
  • Flexibility of planning your investment strategy based on your risk and return requirement
  • Flexibility to make partial withdrawals to meet unplanned expenses
  • Tax benefits under sections 80Cand 10(10D) of the Income Tax Act 1961 subject to provisions contained there in
  • Paying premiums is convenient with access to multiple modes – credit card, internet banking, cheque, auto debit facility

Eligibility

Life Options

Min-Max entry age 14-65 years
Min-Max maturity age NA-75 years

Extra Life Options

Min-Max entry age 18-55 years
Min-Max maturity age NA-70 years

Age has to be taken as of "last birthday" basis

HDFC Life Classic Assure Plus is an investment cum insurance plan that offers guaranteed benefit while letting your money grow. The plan is ideal for meeting long term financial goals as well as creating a financial cushion to secure your family’s future.

Features

  • Limited premium payment terms of 7 and 10 years
  • Insurance coverage throughout the policy term
  • Guaranteed reversionary bonus during the premium paying term
  • Option to go for a Short Medical Questionnaire eliminating tedious medical tests
  • The plan can be taken only on a single life basis
  • EMI available for HDFC Bank Credit Card holders.

Advantages

  • Provide invaluable protection to your family by way of lump sum payment in case of unfortunate demise during the policy term
  • Enjoy a discount on basic premium for policies with sum assured of Rs. 10 lakhs or above
  • Avail of a loan under this policy subject to conditions
  • Enjoy Tax benefits subject to conditions contained under sections 80C and 10(10D) of Income Tax Act, 1961
  • Flexibility to pay premiums annually/half-yearly/monthly/quarterly depending on your convenience

Eligibility

For a 10 year policy term

Min- Max Entry Age (years) 8-55 years
Min- Max age at Maturity (years) 18-65 years

For a 15 year policy term

Min- Max Entry Age (years) 3-60 years
Min- Max age at Maturity (years) 18-75 years

For a 20 year policy term

Min- Max Entry Age (years) 30 days-55 years
Min- Max age at Maturity (years) 18-75 years

All age mentioned above are age last birthday.

WOMENS' PLANS

"HDFC Life Assured Pension Plan – ULIP" is a Unit Linked Plan that offers you market linked returns, with Loyalty additions and helps you achieve your retirement goals by planning well in advance.

Features

  • You always wanted to make a difference in the lives of your loved ones. This is what gives true happiness. In your own way, you did what it took to keep them happy with their satisfaction always being a priority for you.
  • Now that you are independent and have complete charge of your finances, some amount of planning can go a long way in fulfilling dreams for yourselves and your loved ones.
  • Presenting, HDFC Life Smart Woman Plan, a life insurance policy for women that give wings to your aspirations. The plan ensures your savings grow leaving you free to pursue your career and continue making a difference to those around you. It also provided options which cater to specific life events of women with respect to their health, career and marriage.
  • Options to choose from 4 funds to suit your risk appetite:
    1. Income Fund: Higher potential returns due to higher duration and credit exposure
    2. Balanced Fund: Dynamic equity exposure to enhance the returns while the debt allocation reduces the volatility
    3. Blue chip Fund: Investments in large cap equities
    4. Opportunities Fund: Investments in mid-cap equities
  • You can select any of the 3 Benefit Options, each created to meet specific needs such as:
    1. Pregnancy complications or birth of child with congenital disorder
    2. Diagnosis of malignant cancer of female organs
    3. Death of spouse (Only with Elite option)
  • Classic – Under this option you can avail of premium waiver benefit with funding of next 3 years’ premiums.
  • Premier – Under this option you can avail of premium waiver benefit with funding of next 3 years’ premiums and periodic cash payouts of 100% of next 3 years’ premiums.
  • Elite – Under this option you can avail of premium waiver benefit with funding of next 3 years’ premiums and periodic cash payouts of 100% of next 3 years’ premiums along with coverage for death of spouse.
  • Flexibility to choose the sum assured
  • Convenience to choose policy tenure of 10/15 years

Advantages

  • Uninterrupted savings with waiver and funding of premiums for next 3 years on the following events
    1. Pregnancy complications or birth of child with congenital disorder
    2. Diagnosis of malignant cancer of female organs
    3. Death of spouse (Only with Elite option)
  • Additional periodic cash payouts under Premier and Elite options
  • Flexibility to make partial withdrawals to meet contingencies
  • Avail of hassle-free annual premium payment option
  • Tax benefits subject to provisions contained under sections 80C and 10(10D) of the Income Tax Act 1961
  • Paying premiums is convenient with access to multiple modes – credit card, internet banking, cheque, auto debit facility.

Eligibility

Min-Max proposer entry age 18-none years
Min-Max entry ages for female life to be assured 18-45 years
Min-Max entry ages of spouse for elite option 21-50 years
Min-Max maturity age for female life to be assured 28-60 years
Min-Max age of risk cessation for spouse in elite option 31-60 years
Min-Max annual Premium Rs.24,000-Rs.1,00,000
Min-Max sum assured to(age less than 45 years) 10x - 40x annualized premium
Min-Max sum assured to(age equal to 45 years) 7x - 40x annualized premium
Min-Max Policy Term 10 or 15 years

EMPLOYEE BENEFIT SOLUTIONS

HDFC Life Group Pension Plan is a non-linked participating variable insurance plan. It is an effective investment solution to manage and build an employee superannuation benefit fund.

Features

  • Effective way to build an employee superannuation benefit fund
  • Option to setup the policy with a single policy account or with individual member level accounts
  • Flexibility to pay premiums regularly or as single premium

Benefits

  • Build a retirement corpus for the individual members
  • Guaranteed minimum floor rate of 0.5% for the entire term of the policy
  • Bonus credited at the end of every financial year
  • Ease of claim settlement

HDFC Life Group Unit Linked Pension Plan aims to provide the trustees a flexible solution for managing superannuation obligations. This plan is flexible, transparent and is designed to achieve the objectives of managing the superannuation schemes in cost efficient manner.

Features

  • Effective way to build employee superannuation benefit fund
  • Option to establish the policy
    1. With a single policy account or
    2. With individual member level accounts
  • Provides assured benefit
  • Range of investment options to choose from

Benefit

  • New members/employees can join at any well defined date as per the rules of the scheme with the policyholder
  • Return Protector options gives minimum guarantee along with an upside
  • Life Stage based fund allocation depending on the number of years to retirement

The HDFC Life Group Variable Employee Benefit Plan is a non-participating variable insurance plan wherein the company/trustee is the policyholder & employees are the scheme members. The plan offers a flexible & cost effective way to build a corpus to fund all future financial needs of employees.

Features

  • Guaranteed Minimum Return of 1% per annum for the entire term of the policy
  • Additional interest rate declared by us at the start of every financial quarter
  • Income Tax Benefits to you and your employee as per applicable tax laws
  • Choice of individual member level account in case of superannuation scheme

Benefit

This product is flexible, transparent and is designed to achieve the objectives of managing the Gratuity, Leave Encashment, Superannuation and other employee benefit schemes in the most efficient manner.

The HDFC Life New Group Unit Linked Plan is an unit linked insurance plan that offers a flexible & cost effective way to build corpus to fund all future employee’s needs. This plan enables you as a trustee to maximize your investment returns and meet your obligations in a cost effective way.

Features

  • Range of 6 Debt and Equity oriented funds to choose from
  • Flexibility of paying premiums
  • Control over your investment by Switches
  • In built Insurance Coverage of Rs. 1000

Benefit

  • Additional Sum of Rs. 1000 will be paid to the policyholder, in addition to amounts paid from the unit linked funds.
  • Additional Sum of Rs. 1000 will be paid to the policyholder, in addition to amounts paid from the unit linked funds.
  • Large Fund Discount- means that we will add additional units to schemes with large funds.

LIFE PROTECTION SOLUTION PLUS

HDFC Life Group Pension Plan is a non-linked participating variable insurance plan. It is an effective investment solution to manage and build an employee superannuation benefit fund.

Features

The HDFC Life Group Term Insurance Plan will have the following structure:

  • Provides life cover to groups of people
  • One master policy covering all members of the group
  • Annually renewable term insurance plan
  • Addition and deletion of members anytime during the year
  • Sum assured payable to nominee on death of the covered member
  • Employees can be additionally covered by riders e.g. accidental/ critical illness / disability
  • Offers flexibility to cover the spouse of the member
  • Simplified –Enrolment process
  • Offers Cover for policies issued in lieu of Employees Deposit Linked Insurance (Amendment) Scheme 2014 (EDLI)
  • Easy claim settlement process enabling speedy & quick settlement.

Benefits

  • Benefits To employer
    1. Life cover for all the group members under one policy.
    2. Easy and hassle free financial help to the employee's family, in case of an unfortunate event
    3. Cost-effective method to buy a high cover at a low premium
    4. GTI cover for future service gratuity liability
    5. Serves as strong retention tool
    6. Premiums paid by the employer is tax deductible u/s 37 (1) of the Income Tax Act, 1961
    7. Simple procedures for addition and deletion of members in to the policy
  • Benefits To employee
    1. Adequate financial support to loved ones against his accident, illness or untimely death
    2. Convenience of no medical tests till free cover limits
    3. Cover for housing or vehicle loans given by you to your employees
    4. Premiums paid by the employer not treated as perquisite
    5. Death benefits exempt from tax under Section 10(10D)

The HDFC Life Group Credit Protect is a solution for financial institutions who want to lighten loan repayment burden of borrower’s family- in case of death or illness.

Features

  • Additional payment to family in case of death due to accident
  • Premium rate depends on
    1. Demographic distribution reflected by the financial institution
    2. Type of loan
    3. Nature of insurance cover
  • Hassle free process to join - simple to administer
  • Single Premium plan
  • Choice of covers - level or reducing

Benefit

  • Comprehensive protection against various types of loans
  • Financial institutions can minimize the non - loan repayment burden
  • Insurance benefit will enable in lightening the financial burden on borrower’s family

The HDFC Life Group Credit Protect Plus Insurance Plan is a tailor made insurance policy for members of financial institutions. In event of death, disability or illness of the insured member(s), it will protect their families from the burden of repaying the outstanding loan to the financial institution.

Features

  • A comprehensive benefit plan which offers financial protection in event of death, disability and critical illnesses
  • Flexibility to choose plan options. Option of decreasing and level cover
  • Flexibility to choose loan cover term subject to a maximum of 30 years
  • Just pay one time with single premium
  • Coverage available on Single and Joint life basis
  • A moratorium of 1 to 7 years wherein level cover is offered during the moratorium period
  • Member can opt for coverage term lesser than loan tenures
  • We offer to cover top-up loans through separate repayment schedule

Benefit

  • A comprehensive group policy with 6 plan options
  • Has no lengthy underwriting procedure
  • Is simple to administer

Government of India has launched the social scheme Pradhan Mantri Jeevan Jyoti Bima Yojana to offer benefits of Insurance to masses. The scheme was launched for offering affordable universal access to essential protection in a convenient manner, its linked to auto–debit facility from Banks to the subscribers.

To support the scheme we have launched HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan which is a pure group term insurance product that ensures financial security for the member's family in the event of unfortunate death of the member.

Features

  • Participating Banks will be the Master Policyholder while Savings Bank account members will be the members under the scheme
  • For all Savings Bank account holders whose age is between 18 to 50 years
  • Offers Rs 2 Lakhs renewable life insurance cover for your family, in your absence
  • Life insurance worth Rs. 2 lacs at just Rs. 330 per annum
  • The premium will be deducted from the account holder's saving bank account through 'auto debit' facility

Advantages

  • One year renewable group life insurance cover to all eligible the savings bank account holders of the bank who opts for the scheme
  • The plan offers Death Cover of Rs 2 Lakhs to the eligible members for a fixed premium of Rs 330

Eligibility

Minimum Entry Age 18 years (age last birthday)
Maximum Entry Age New member: 50 years (age nearest birthday)
Renewals: 54 years (age nearest birthday)
Minimum Maturity Age 19 years (age last birthday)
Maximum Maturity Age 55 years (age nearest birthday)
Sum Assured Rs 2 Lakh
Premium Rs 330
Premium Frequency Annual

We work with major insurance companies