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Hdfc Term Insurance 2023

About HDFC Term Insurance

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 Term Insurance Plans

HDFC Life Insurance offers the following term plans to its customers:


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.

HDFC Life Term Insurance Plans

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.

Benefits of HDFC Life Term Insurance

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.

Why To Buy HDFC Life Term Insurance?

HDFC Life term insurance offers a variety of benefits to its customers. Some of the benefits offered by them are detailed below: High Coverage at Low Premium: Terms plans offered by HDFC Life Insurance are quite affordable and provide significant coverage. Moreover, the earlier in life you buy a term insurance plan, the lower premium you are required to pay against the term insurance plan.

Financial Security: The unfortunate death of the sole bread earner of the family is not just distressing but at the same time it also brings forth various financial liabilities for the family. However, by purchasing a term insurance plan by HDFC Life Insurance, the family members of the policyholder in their absence receive financial assistance in order to meet their daily expenses by the insurance company either in the form of a lump sum or through instalments.

Flexibility: HDFC Term insurance plans provide the policyholders with a wide variety of coverage options, giving them the freedom to choose term plans according to their specific requirements and budget.

MWPA (Married Women’s Property Act) Enrolment Benefit: To ensure that the death benefits are secured only for the family members of the policyholder legally, one can enrol in the term insurance plans offered by HDFC Life Insurance under the MWPA (Married Women’s Property Act).

Tax Benefits: As per section 80C and 10(10D) of the Income Tax Act, a policyholder is eligible to avail tax benefits for the term plans offered by HDFC Life Insurance against the premium paid.

HDFC Term Insurance Mediclaim Policy Premium Calculator

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.

Claim Settlement of HDFC Life Term Insurance

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.

How To Make HDFC Life Term Insurance Claim - Online?

HDFC Life Term Insurance Claim Settlement can be processed online in just 4 steps:
1. Reporting of Claim
Visit the official website of HDFC Life insurance. Go to the claim settlement section. Then click on the Individual Death claim section.
2. Verify Policy Details
Fill the important details of your policy like Policy Number, Date of Birth, Date of Death, and Mobile Number on the respective page.
3. Claim Evaluation
After this, your claim will be evaluated and investigated based on the information you provided. 4. Claim Decision and Settlement
At the final stage, your claim would be approved and settled. Payment is made to the nominee bank account or through cheques. If the policy is bought online, the claim will be settled within 24 hours.


Can I purchase HDFC Life term insurance plan online?

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.

What documents do I need to purchase an HDFC Term insurance plan online?

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)

Can I choose to surrender my HDFC term insurance plan?

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.

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