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Life is unpredictable, and while we cannot control the uncertainties that lie ahead, we can certainly take steps to protect our loved ones financially. Having a comprehensive life insurance plan is a crucial aspect of financial planning, ensuring that your family's well-being remains secure even in your absence. HDFC Life, a leading life insurance company in India, offers the HDFC Life Online Term Plan, a reliable and flexible insurance solution designed to provide substantial coverage and peace of mind to policyholders and their families.
Understanding the HDFC Life Online Term Plan
The HDFC Life Online Term Plan is a pure term insurance policy, which means it provides life coverage for a specified term without any investment component. It is a cost-effective way to ensure that your family's financial needs are met in the event of your unfortunate demise during the policy term. The plan can be easily purchased online, providing a hassle-free and convenient process for individuals seeking life insurance coverage.
Key Features of HDFC Life Online Term Plan
1. High Coverage at Affordable Premiums: The HDFC Life Online Term Plan offers a high sum assured at comparatively lower premiums. This means you can avail of extensive life coverage without straining your budget.
2. Flexible Policy Terms: Policyholders can choose the policy term that suits their requirements. The plan offers various term options to match different life stages and financial goals.
3. Multiple Death Benefit Options: The plan provides multiple death benefit options to cater to varying needs. These options include lump-sum payout, monthly income, or a combination of both, ensuring that your family receives financial support in a way that best suits their needs.
4. Additional Protection through Riders: Policyholders can enhance their coverage by adding optional riders to the base policy. Riders like Accidental Death Benefit, Critical Illness Benefit, and Waiver of Premium provide additional protection against specific risks.
5. Tax Benefits: The premiums paid towards the HDFC Life Online Term Plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Additionally, the death benefit received by the nominee is tax-exempt under Section 10(10D) of the same Act.
6. Easy Online Application: Purchasing the HDFC Life Online Term Plan is a seamless process. The application can be completed online, eliminating the need for paperwork and ensuring a quick and hassle-free policy issuance.
Why Choose HDFC Life Online Term Plan?
1. Comprehensive Financial Protection: The HDFC Life Online Term Plan offers substantial life coverage, ensuring that your family's financial future is secure even in your absence. The death benefit provided by the plan can serve as a financial cushion, helping your loved ones maintain their standard of living and meet important life goals.
2. Flexibility in Payout Options: The plan's multiple death benefit options allow your family to choose the most suitable mode of receiving the payout based on their immediate needs and long-term financial goals.
3. Affordable and Accessible: The HDFC Life Online Term Plan is designed to be affordable, making it accessible to a wide range of individuals seeking life insurance coverage. Additionally, its online availability simplifies the buying process and saves time and effort.
4. Tailored to Your Needs: With flexible policy terms and optional riders, you can customize the HDFC Life Online Term Plan to align with your specific requirements and financial objectives.
5. Strong Legacy of HDFC Life: As one of India's leading life insurance companies, HDFC Life has a robust reputation for reliability, customer service, and efficient claims settlement. By choosing the HDFC Life Online Term Plan, you entrust your family's financial well-being to a trusted and reputable insurer.
Advantages of HDFC Life Online Term Plan:
1. Financial Security for Your Loved Ones: The primary advantage of the HDFC Life Online Term Plan is the financial security it provides to your family in the unfortunate event of your demise. The plan ensures that your loved ones are protected from the burden of financial liabilities, such as outstanding loans, mortgages, or other debts, and can maintain their standard of living even in your absence.
2. Cost-Effective Solution: As a pure term insurance plan, the HDFC Life Online Term Plan offers extensive coverage at affordable premiums. Since there is no investment component, the premiums are primarily directed towards providing a high sum assured, making it a cost-effective way to secure your family's financial future.
3. Flexibility in Policy Terms: With the HDFC Life Online Term Plan, you have the flexibility to choose the policy term that suits your life stage and financial goals. Whether you want coverage for a specific period, until retirement, or for an extended duration, the plan offers various term options to cater to your needs.
4. Tailored Death Benefit Options: The plan provides multiple death benefit options, allowing your family to receive the insurance payout in a manner that best suits their needs. Whether they prefer a lump-sum amount for immediate financial requirements or a regular income to meet monthly expenses, the HDFC Life Online Term Plan offers the flexibility to choose the most appropriate option.
5. Customizable with Optional Riders: To enhance the coverage, the HDFC Life Online Term Plan offers additional protection through optional riders. These riders provide coverage against specific risks such as accidental death, critical illnesses, or waiver of premium in case of disability. Adding riders to the base policy can bolster your protection to meet the evolving needs of your family.
6. Tax Benefits: Apart from securing your family's financial future, the HDFC Life Online Term Plan also offers tax benefits. The premiums paid towards the plan are eligible for tax deductions under Section 80C of the Income Tax Act, reducing your overall tax liability. Additionally, the death benefit received by your family is tax-free under Section 10(10D) of the Act.
7. Convenience of Online Application: HDFC Life understands the value of your time and the need for a hassle-free process. The HDFC Life Online Term Plan can be easily purchased through the company's user-friendly online platform. The online application process eliminates the need for physical documentation and speeds up policy issuance.
8. Transparent and Efficient Claims Settlement: HDFC Life is known for its transparent claims settlement process. In case of a claim, the insurer ensures a smooth and efficient settlement to provide the necessary financial support to your family during challenging times.
9. Peace of Mind: Knowing that your family's financial well-being is safeguarded with the HDFC Life Online Term Plan brings you peace of mind. You can go about your daily life with confidence, knowing that you have taken proactive steps to secure the future of those you care about.
HDFC Life Insurance Company started operating in the year 2000. HDFC Life Insurance is a joint venture between Standard Life Aberdeen plc and Housing Development Finance Corporation Limited. HDFC Life Insurance company offers 2 term insurance plans. HDFC Life Insurance has designed these term insurance plans to cater different needs of different people. HDFC term insurance plans provide financial security to the family of the life assured in case of an untimely demise of the life assured, one can also add riders to the term plan to increase the coverage of the plan.
HDFC Life Insurance Company has been receiving awards for its performance and services provided. Recently HDFC Life Insurance was recognised as a ‘Superbrand’ for the 8th time in a row. HDFC Life bagged ‘Digital Crest Award 2020.’ HDFC Life has been awarded with ‘The Best Life Insurance Company’ by BFSI in the year 2018. HDFC Life has won Platinum at LACP Vision Awards 2019-20. HDFC Life has been awarded with the ‘11th Aegis Graham Bell Award’ for Innovative digital transformation for Vision AI. HDFC Life was recognised as a ‘Superbrand’ in 2021.
HDFC Life Insurance Company offers a wide range of insurance policies such as term life insurance, savings plan, unit-linked insurance plans, retirement/pension plans and child plans. HDFC Life has designed some insurance plans specially to cater to the needs of women and children. Term plans offered by HDFC Life are HDFC Click 2 Protect Life and HDFC Saral Jeevan Bima.
HDFC Life Insurance offers two economic term insurance plans that offer full protection and financial stability to your loved ones in case of any misfortunate event like death. These plans are comprehensive and are designed specially to meet the varied requirements of the customers. The plans come with riders for added protection, which you can opt for by paying an extra premium at the time of policy purchase. All in all, HDFC Life offers affordable and easy to understand term insurance plans that offer excellent protection in case of unforeseen events.
1. HDFC Life Click 2 Protect Life: Considering the lifestyle changes and life stage needs, HDFC Life Insurance offers Click 2 Protect plan that truly keeps you protected. The plan comes with 3 coverage options i.e. Life and CI Rebalance, Life Protect and Income Plus, from which you can choose as per your requirement. For instance, if you choose Income Plus Option, then you can get income payouts from 60 years onwards. One of the advantages of getting this plan is that it auto balances death and critical illness benefits with an increase in age. Apart from this, the plan also comes with an option to avail cover for whole life
2. HDFC Life Saral Jeevan Bima: HDFC Life Saral Jeevan Bima offers comprehensive coverage at affordable premiums. The plan offers much needed financial protection to the loved ones of the insured and can be purchased by people aged between 18 years and 65 years. The policy offers a minimum sum insured of Rs. 5 Lakh, in multiples of Rs. 50,000 thereof. There is no maximum sum insured limit under the plan but the acceptance of any case is subject to Board Approved Underwriting Policy (BAUP). Also known as the ‘Pure Risk’ plan, this plan offers life coverage and a lump sum amount in case of the sudden demise of the life assured. On buying the plan, you will be eligible for tax benefits as per the prevailing tax laws.
HDFC Life Insurance offers a wide variety of term insurance plans to their customers that assists them in financially securing the future of their family members in the event of the unfortunate demise of the sole bread earner of the family. A policyholder can choose to customize the coverage in order to meet their specific requirements with the help of various add-ons such as critical illness cover, waiver of premium, accidental death benefit rider, etc. These plans offered by HDFC Life Insurance are quite affordable owing to their low premium cost. Moreover, these plans are essential as they provide much needed financial assistance to the family members of the policyholder’s even in their absence by offering various coverage benefits along with tax benefits.
HDFC Life Term insurance premium calculator is used for the calculation of an individual's monthly or annual premium that is paid against the HDFC term insurance policy. It helps an individual in evaluating the sum assured amount that they would want to protect the future of their family members financially.
HDFC Life offers 3 Term Insurance plans. HDFC Life Term Premium calculator assists you to adjust your sum assured depending upon the future requirements of your loved ones and family members in your absence.
HDFC Life offers a hassle-free and smooth claim settlement experience to its customers. The insurer has a staggering Claim Settlement Ratio (CSR) of 99.07% in FY 2019-2020, which reflects that the insurer handles claims well. HDFC Life has a dedicated claim settlement assistance team available 24x7. Also, in the year 2018, the company was awarded “Best Life Insurance Company” by BFSI, which is another assurance for the company’s efficient services.
Yes, you can easily purchase HDFC Life term insurance plans online. The online buying process is quite simple, hassle-free and involves much less paperwork. Also, before deciding on a specific term plan, ensure that you thoroughly compare various term insurance plans that are available online in order to get maximum coverage at an affordable premium.
The documents that you would need to apply for HDFC Term insurance plan online are as follows:
Address Proof (Voter ID card, electricity bill, passport, telephone bill, ration card, bank account statement, utility bill)
Age Proof (driver’s license, birth certificate, passport, PAN card, voter ID card, college/school leaving certificate)
Photo ID Proof (driver’s license, passport, aadhaar card, PAN card, voter ID card)
A recent passport size picture Income Proof (salary slip, Form 16, ITR/assessment order, employer’s certificate)
Yes, in case you feel that you don’t have any further liabilities in life, you can opt to surrender your term life insurance plan.
HDFC Life Insurance: Comprehensive Coverage for a Secure Future
HDFC Life Insurance is a prominent name in the insurance industry, offering a diverse range of insurance products to cater to the varying needs of individuals and families. From term insurance plans to savings and investment-oriented plans, HDFC Life ensures that customers have access to comprehensive coverage and financial security.
HDFC Term Insurance Plans: Protecting Your Loved Ones
HDFC Term Insurance Plans are a popular choice among individuals seeking pure life insurance coverage. These plans provide financial protection to your family in the event of your untimely demise during the policy term. HDFC Term Insurance Plans offer a high sum assured at affordable premiums, making them an attractive and cost-effective solution for securing your loved ones' future.
HDFC Click 2 Protect Life: Online Term Insurance Made Easy
HDFC Click 2 Protect Life is one of the flagship term insurance plans offered by HDFC Life. As the name suggests, it is a user-friendly online term insurance plan that allows you to purchase coverage conveniently through HDFC Life's official website. The plan offers comprehensive life coverage, multiple death benefit options, and additional riders to enhance protection.
HDFC Sanchay Plus: Your Path to Secure Savings
HDFC Sanchay Plus is a savings-oriented insurance plan that combines the benefits of insurance protection with the opportunity to build savings for the future. This plan offers a guaranteed addition to your savings every year and provides the flexibility to choose the policy term and premium payment frequency according to your financial goals.
HDFC ProGrowth Plus: The Perfect Investment Solution
HDFC ProGrowth Plus is an investment-oriented unit-linked insurance plan (ULIP) that offers dual benefits of life insurance coverage and potential returns on investment. This plan allows you to invest in a variety of funds, including the Discovery Fund, which aims to provide higher returns by investing in select stocks and sectors.
HDFC Pension Plans: Securing Your Retirement Years
HDFC Pension Plans are designed to help you build a corpus for your retirement years, ensuring a financially secure and independent life after you stop working. These plans offer regular income in the form of annuities during your retirement and provide tax benefits on the premiums paid.
HDFC Life Insurance: Convenience and Accessibility
HDFC Life strives to make insurance accessible and convenient for customers. The company's user-friendly website, mobile app, and online application process allow you to explore and purchase insurance plans with ease. The online insurance application manager simplifies the process of tracking your application and ensures a smooth and efficient policy issuance.
HDFC Click 2 Protect 3D Plus: A Comprehensive Term Insurance Plan
HDFC Click 2 Protect 3D Plus is an advanced and comprehensive term insurance plan offered by HDFC Life. It is designed to provide three-dimensional protection, covering three key aspects - life coverage, disability protection, and critical illness coverage. This plan ensures that you and your family are financially secure and protected against life's uncertainties.
Key Features of HDFC Click 2 Protect 3D Plus:
Three-Dimensional Coverage: The plan offers a 3D coverage feature, which includes life coverage, disability benefit, and critical illness coverage. In case of unfortunate events like death, disability, or critical illness, the policy provides a lump-sum payout to the insured or their family.
Flexible Premium Payment Options: HDFC Click 2 Protect 3D Plus allows you to choose between single premium, regular premium, or limited premium payment options based on your convenience and financial capacity.
Multiple Death Benefit Options: The plan provides flexibility in choosing the death benefit payout option. You can opt for a lump-sum amount, monthly income, or a combination of both, ensuring that your family receives financial support in the most suitable manner.
Enhanced Protection with Riders: You can enhance the coverage of the HDFC Click 2 Protect 3D Plus plan by adding riders such as Accidental Death Benefit, Income Benefit on Accidental Disability, and Critical Illness Benefit, among others. These riders offer additional protection against specific risks.
Waiver of Premium on Disability: In case of permanent disability due to an accident, the plan offers the Waiver of Premium on Disability feature. This means that the future premiums of the policy are waived off, and the policy remains in force without any premium payment.
Option to Increase Coverage: You have the flexibility to increase your coverage at important life stages, like marriage or the birth of a child, by exercising the Life Stage Protection feature. This allows you to adapt your insurance coverage to your changing needs.
HDFC Term Insurance Plan Premium Calculator:
The HDFC Term Insurance Plan Premium Calculator is a useful tool that allows you to calculate the premium amount for the HDFC Click 2 Protect 3D Plus plan based on your age, sum assured, policy term, premium payment frequency, and other relevant factors. By using the premium calculator, you can get an estimate of the premium amount and choose a plan that aligns with your budget and insurance requirements.
Why Choose HDFC Click 2 Protect 3D Plus?
HDFC Click 2 Protect 3D Plus is a popular choice among individuals seeking comprehensive term insurance coverage. The plan's three-dimensional protection ensures that your family is financially safeguarded in various situations. It provides peace of mind knowing that your loved ones will receive financial support in case of any unfortunate event.
Q1. What is an HDFC Life Insurance Plan?
Ans: HDFC Life Insurance Plans are a range of comprehensive life insurance policies offered by HDFC Life, one of India's leading insurance companies. These plans provide financial protection and security to individuals and their families against various risks, ensuring that their loved ones are financially supported in case of unfortunate events like death, critical illnesses, accidents, or disabilities.
Q2. What types of HDFC Life Insurance Plans are available?
Ans: HDFC Life offers a wide variety of insurance plans to cater to different needs and life stages. Some common types of HDFC Life Insurance Plans include Term Insurance Plans, Endowment Plans, Unit-Linked Insurance Plans (ULIPs), Savings Plans, Pension Plans, and Child Plans. Each plan is designed to serve specific financial goals and provide comprehensive coverage.
Q3. How do I choose the right HDFC Life Insurance Plan for me?
Ans: Choosing the right HDFC Life Insurance Plan depends on your individual needs, financial objectives, and risk tolerance. Consider factors such as your age, income, family's financial requirements, existing liabilities, and future goals. It's advisable to assess your financial situation and consult with an insurance advisor or HDFC Life representative to identify a plan that aligns with your unique circumstances.
Q4. What is the coverage amount (sum assured) I should opt for in a HDFC Life Insurance Plan?
Ans: The coverage amount (sum assured) in an HDFC Life Insurance Plan should ideally be determined based on your family's financial needs and future expenses. It should be sufficient to cover outstanding loans, replace lost income, support your family's lifestyle, and account for potential inflation. Carefully assess your family's financial requirements and select a sum assured that provides adequate financial protection.
Q5. Can I enhance the coverage of my HDFC Life Insurance Plan with additional riders?
Ans: Yes, HDFC Life Insurance Plans often offer additional riders that can be added to the base policy to enhance the coverage. These riders may include Accidental Death Benefit, Critical Illness Benefit, Waiver of Premium, and more. Adding riders can provide extra protection against specific risks and offer comprehensive coverage tailored to your needs.
Q6. Are HDFC Life Insurance Plans eligible for tax benefits?
Ans: Yes, HDFC Life Insurance Plans offer tax benefits on both the premium paid and the death benefit received under prevailing tax laws. The premiums paid towards the policy may qualify for deductions under Section 80C of the Income Tax Act, while the death benefit received by the nominee is tax-free under Section 10(10D) of the same Act.
Q7. Can I buy an HDFC Life Insurance Plan online?
Ans: Yes, HDFC Life Insurance Plans can be conveniently purchased online through the company's official website. The online application process is user-friendly and allows you to compare different plans, calculate premiums, and make an informed decision from the comfort of your home.
Q8. How do I file a claim for an HDFC Life Insurance Plan?
Ans: In the event of a claim, you or your nominee can initiate the claims process by contacting HDFC Life's customer service or visiting the nearest branch. The claims team will guide you through the necessary documentation and process to ensure a smooth and efficient claims settlement.
Q9. Can I modify or customize my HDFC Life Insurance Plan after purchasing it?
Ans: Certain HDFC Life Insurance Plans may offer flexibility in terms of modifications or customizations. For instance, some ULIPs may allow you to switch between fund options, while some endowment plans may offer partial withdrawal options. However, the extent of customization and modification will depend on the specific terms and conditions of the chosen plan.
Q10. What is the process for surrendering an HDFC Life Insurance Plan if needed?
Ans: If you wish to surrender your HDFC Life Insurance Plan, you can do so by submitting a surrender request to the insurer. The surrender value, which may be different from the total premiums paid, will be paid out based on the policy terms and conditions. It's important to carefully evaluate the implications of surrendering a policy and consult with an insurance advisor before making this decision.
Q11. Can I switch between different HDFC Life Insurance Plans if my needs change over time?
Ans: Yes, HDFC Life Insurance Plans often offer flexibility in terms of switching or changing the plan based on your evolving needs. For example, if you initially purchased a term insurance plan and later decide to opt for a ULIP to combine insurance with investment benefits, you may be able to switch between these plans. However, the availability of this feature and any associated charges may vary depending on the specific policy terms and conditions.
Q12. What is the claim settlement ratio of HDFC Life Insurance Plans?
Ans: The claim settlement ratio (CSR) of HDFC Life Insurance Plans represents the percentage of claims settled by the insurance company out of the total claims received in a particular financial year. A higher CSR indicates a better track record of the insurer in settling claims promptly and efficiently. HDFC Life boasts a consistently high claim settlement ratio, reflecting its commitment to customer satisfaction and efficient claims settlement process.
Q13. Can I renew my HDFC Life Insurance Plan after the policy term expires?
Ans: Some HDFC Life Insurance Plans, such as term insurance plans, have a renewable feature that allows policyholders to renew their coverage after the policy term expires. Policyholders can typically renew the policy annually for a specific period, extending the coverage as per their requirements. The renewal premiums may be recalculated based on the age and other factors at the time of renewal.
Q14. Is a medical examination required to purchase an HDFC Life Insurance Plan?
Ans: Whether a medical examination is required for purchasing an HDFC Life Insurance Plan depends on factors such as the sum assured, your age, and your health status. For higher coverage amounts or certain insurance products, a medical examination may be necessary to assess your health condition and determine the risk profile. In some cases, HDFC Life offers plans with minimal or no medical underwriting, making it easier for individuals to get coverage without a medical check-up.
Q15. Can I include my spouse or children in my HDFC Life Insurance Plan?
Ans: HDFC Life Insurance Plans typically provide coverage for the individual policyholder only. However, you can consider opting for separate policies for your spouse and children to ensure comprehensive financial protection for the entire family. HDFC Life offers a range of plans, including family-oriented plans and child plans, designed to address the specific needs of each family member.
Q16. How do I keep track of my HDFC Life Insurance Plan, premium payments, and policy details?
Ans: HDFC Life provides a user-friendly customer portal and mobile app that allows policyholders to access their policy details, premium payment history, and other important information. By logging into the portal or app, you can easily track the status of your HDFC Life Insurance Plan and stay updated on all policy-related matters.
Q17. What happens if I miss a premium payment for my HDFC Life Insurance Plan?
Ans: If you miss a premium payment for your HDFC Life Insurance Plan, you may have a grace period during which you can make the payment without any penalty or loss of coverage. It's essential to be aware of the grace period mentioned in your policy and make timely premium payments to keep your coverage active.
Q18. Can I surrender my HDFC Life Insurance Plan if I no longer need it?
Ans: Yes, you can surrender your HDFC Life Insurance Plan if you decide that you no longer need the coverage. Surrendering a policy means terminating it before the policy term is completed. However, it's important to consider the implications of surrendering a policy, as you may receive a surrender value that is lower than the total premiums paid, and you will lose the life coverage provided by the plan.
Q19. Can I increase or decrease the coverage amount (sum assured) of my HDFC Life Insurance Plan during the policy term?
Ans: In some HDFC Life Insurance Plans, you may have the option to increase or decrease the sum assured during the policy term, subject to specific terms and conditions. For example, in ULIPs, you may have the flexibility to switch between different fund options, which can impact the sum assured and the investment component of the plan.
Q20. How can I get assistance or resolve queries related to my HDFC Life Insurance Plan?
Ans: HDFC Life has a dedicated customer service team that can assist you with any queries or concerns related to your insurance plan. You can reach out to the customer service through their toll-free helpline, email, or visit the nearest HDFC Life branch for personalized support and guidance.
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