HDFC Standard Life Insurance Plan

By | May 13, 2024

HDFC Bank offers a variety of life insurance plans, including term, whole, endowment, and Unit-Linked Insurance Plans (ULIPs). Here are some of their plans.

This plan offers financial coverage for family in case of death, and premiums can be paid annually. The maximum policy term is 30 years and the maximum maturity age is 65 years.

The company is one of the most popular insurance companies in India which is a joint venture between HDFC Ltd. and abrdn plc. and was founded in 2000. The company is headquartered in Mumbai and has around 373 branches across the country. The company offers various insurance plans, such as term insurance, retirement plans, endowment plan, savings plan, and other plans for women and child. Here are more details about HDFC Life Insurance plans.

The following are some of the benefits of HDFC Life Insurance plans:

  •  Investing in such plans help build corpus for long-term that will help beat inflation, fund for child’s education, marriage, and fulfil other life goals.
  • Ensures financial protection not only for policyholder but also for the family, by providing death benefit that helps in paying rent, supports education, medical emergencies or other financial obligation in case of death of policyholder.
  • Offers life insurance plans at an affordable premium rate over other insurance plans available in the market, thereby making it one of the most preferred options.
  • It comes with multiple options, such as term insurance, retirement plans, savings, ULIP, child plans, and many more.
  • HDFC life Insurance company has a claim settlement ration of 99.39% in 2022-2023 that makes it one of the reliable insurers in the insurance market of the country.
  • Enables users to purchase insurance plans conveniently through online mode, thereby saving time and effort.
  • Offers efficient customer service to support their customers regarding any issue related to purchase of insurance plans, claim settlement, and others.

 

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

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Savings and Investment Plans

The HDFC Life savings and investment plans are designed in a manner such that customers have multiple avenues to save money so that it can grow over a period of time. These plans help customers in following a systematic investment discipline to ensure that they have adequate funds to meet their long-term objectives. Following are the savings and investment plans that you can purchase from HDFC Life:

purchase from HDFC Life:

1.  HDFC Life Click 2 Achieve:

o   The plan offers the flexibility in choosing benefits

o   Offers guaranteed benefits

o   The rate of return increases 10% per annum

2.  HDFC Life Sanchay Par Advantage:

o   Of the total premiums paid, the plan offers minimum death benefit of 105%

o   Up to 100 years of age, the plan offers assured life coverage

o   The plan offers options of deferred income or immediate income to select from

o   With Annual Premium of Rs.1 lakh and above, the plan offers enhanced benefits

o   Depending on your financial goals, you can select your payout date

3.  HDFC Life Sanchay Plus:

o   For policies with Annual or Single Premium greater than Rs.1.50 lakh, the plan offers enhanced benefits

o   During the policy period, if the insured dies, then the nominee can receive the death benefit as regular income or lump sum as per payout schedule

o   With Lifelong Income option of the plan, the insured can avail themselves of guaranteed income for up to 99 years

o   Insured can choose between lump sum or as regular income for 10/12/ 25/30 years or up to 99 years, depending on the requirements

o   Insured can receive guaranteed returns as lump sum or as regular income depending on financial needs

4.   HDFC Life Sanchay Fixed Maturity Plan:

o   Life insured can select from a range of Policy Terms up to 40 years

o   The plan offers guaranteed savings and assured returns

o   The plan also offers options to choose cover on Joint or Single Life

o   Offers premium payment option of single premium, limited pay, or regular pay

o   On payment of additional premium, the plan also offers optional rider fir enhanced benefits

5.  HDFC Life Guaranteed Income Insurance Plan:

o   The plan offers guaranteed death benefit even during income payout period

o   As per prevailing tax laws, the plan offers tax benefits with long term guaranteed benefits

o   as per prevailing tax laws, the plan ensures tax saving along with guaranteed lump sum in maturity

6. HDFC Life Saral Jeevan:

o   The plan offers guaranteed returns

o   During the full policy term, the plan offers life insurance coverage

o   The plan enables the insured to choose between lump sum or regular income for receiving the maturity benefit

7.   HDFC Life Smart Income Plan:

o   The plan offers guaranteed income benefit

o   The plan provides the option of either enhanced income or maturity

o   Insured can avail themselves of benefit of bonuses (if declared)

o   Income can be received for 12, 16, 20, or 24 years, by paying premium for limited term six, eight, ten, or 12 years only

o   Offers life insurance coverage for ensuring financial security of the family

8.    HDFC Life Assured Gain Plus:

o   On maturity, the plan offers guaranteed sum assured

o   Provides benefits of bonuses if declared

o   By paying for five years, the plan offers life insurance coverage for full policy term

9.    HDFC Life Guaranteed Wealth Plus:

o   At maturity, the plan offers guaranteed Income for during the payout term along with 100% ROP

o   The insured can avail themselves of life insurance cover for full policy term, by paying once or for a limited term

o   Individual can avail themselves of guaranteed benefits as either regular income, lump sum, or both

10.   HDFC Life Sampoorna Jeevan:

o   The plan offers return payout in form of lump sum, regular income, or both

o   The plan provides life coverage for the entire policy term

o   The plan has limited premium payout options

o   The plan has five bonus options

11.   HDFC Life Income Advantage Plan:

o   The plan ensures flexible income payout option

o   The plan offers guaranteed income

o   Income can be received from the second half of the policy term by paying during the first half

o   The plan also offers life insurance coverage for the entire policy term

12.   HDFC Life Uday:

o   On accidental death, the plan offers additional death benefit

o   At the end of each financial year, the plan will offer bonuses if declared

o   By paying either Rs.500 per month or Rs.5000 per year, the insured can avail themselves of insurance coverage

o   Coverage for 12 or 15 years can be availed by paying premium for eight or ten years only

o   During the first five policy years, the plan offers guaranteed1 addition of 3.00% on sum assured per annum

13.   HDFC Life Pragati:

o   The plan offers coverage for five to 20 years by paying a lump sum one time premium

o   Premiums starting from Rs.100 per month

o   The plan offers flexibility to choose your preferred duration of a policy term and premium payment term

o   Full death benefit for two years from the date of last unpaid premiums, in case individual has missed premium payment for a year or two

14.   HDFC Life New Creating Life Insurance Plans:

o   The plan offers limited payment and premium waiver option

o   Family income payout along with death benefit is offered under this plan

o   Secure child’s future financially even in the absence of the insured

o   Financial security during the formative years of your child’s life is offered by this plan

15.   HDFC Life Secured Income Insurance RP:

o   Provides long term savings

o   Enables individual to build corpus

o   The plan offers limited payment options

o   Along with Family Payout option, the plan offers death benefit

16.   HDFC Life My Assured Income Plan:

o   The plan offers limited premium payment term

o   On completion of policy term, the plan offers Guaranteed1 Terminal Benefit

o   To receive Guaranteed1 Income payouts, the plan offers three variants to select from

o   The plan offers rider option for enhanced protection

17.   HDFC Life Saral Bachat:

o   The plan offers guaranteed return

o   During the full policy term, the plan offers life insurance coverage

o   The plan enables individual to choose between lump sum or as regular income for maturity benefit

18.   HDFC Life Secured Income Insurance Plus:

o   The plan offers limited pay options

o   The individual can avail themselves of Family Income Payout option along with death benefit

o   The plan helps in building corpus

o   Enables individual for building long term savings

19.   HDFC Life New Fulfilling Life:

o   The plan ensures safe returns on maturity

o   Indvidual can avail themselves of systematic savings method

o   On death of the insured, the plan offers emergency financial protection

o   Individual can also avail themselves of accumulation of inheritance for next generation

o   Offers small sum amount to fulfil short term financial goals

20.   HDFC Life Star Saver:

o   As per prevailing tax laws, the plan offers tax benefits

o   The plan offers guaranteed maturity benefits

o   In case of accidental death of insured, the plan provides accidental death benefit

o   The plan also provides death benefit over full Policy Term, on paying premium only for five years

21.  HDFC Life Sampoorn Samridhi Plus – Whole Life: This is an endowment plan that provides the policyholder a choice of 2 options: endowment and endowment with whole life cover up to the age of 100 years. The plan comes with a maturity benefit and accidental death benefit

22.   HDFC Life ClassicAssure Plus Plan: This plan provides the insured with a life cover along with investment opportunities to enable growth of savings. The policy comes with a limited premium payment term of 7 years and 10 years. Policyholders also receive a guaranteed reversionary bonus during the premium payment term.

23.  HDFC Life Super Income Plan: This is a non-linked, participating, limited pay, money back plan that provides guaranteed benefits in addition to investment options. The plan provides the insured with assured income for a period of 8 to 15 years. 8% to 12.5% of the sum assured is provided as a maturity benefit.

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