HDFC Life Insurance Reviews, Ratings, Best Plans and USPs

HDFC Life Insurance

HDFC Life Insurance Company is one of the most prominent life insurance companies in India. The company was founded in the year 2000 and headquartered in Mumbai, as a joint venture between HDFC Limited and Standard Life Aberdeen. It is one of the most credible insurance providers with feature-rich life insurance products designed to cater to the long-term financial needs of customers. With over 6.1 crores lives covered and more than INR 1,27,226 crores worth of assets under management, HDFC life has an unshakeable market share in India.

It has a vast product portfolio which allows it to meet the diverse insurance needs of the customers. It offers protection policies, retirement solutions, children’s plans, savings and investment instruments, women’s plans, etc. HDFC Life has a strong presence across India with over 412 branches, 265 bancassurance partners, and 39 non-traditional financial partnerships. It is present in over 980 major cities and towns of India.

HDFC Life is also known for its impeccable customer service and exemplary claim settlement ratio. A claim settlement ratio of 99.07% in FY2019-20 and an average claim settlement time of 4 days clearly shows HDFC Life’s approach towards customer service. HDFC Life has also won various awards and accolades for its customer-centric approach.

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    Policy Type

    IndividualFloater

    About HDFC Life Insurance

    The feature-rich insurance policies offered by the HDFC Life Insurance Company offer an exemplary customer experience. Here are some of the benefits offered by HDFC Life Insurance to their customers:

    Vast Product Portfolio

    HDFC Life offers a wide array of life insurance products such as protection, retirement, savings, health, and investment. The whole product portfolio is designed to cater to the diverse insurance needs of customers.

    Wide Presence

    HDFC Life has a vast network and distribution channels and a strong presence in the whole country. This ensures that their insurance products are readily available to the consumer. Having a strong presence in all major cities and towns in India allows them to provide the best customer service to their customers without any hassle.

    Convenient Processes

    The company is also known for its fast and convenient customer experience at all stages. It offers seamless online buying experiences that allow customers to buy their products in 5 quick and easy steps. They also offer online claim settlement and renewal processes that simplify the whole experience for the customers.

    Flexible Plans

    HDFC Life provides a broad room for customization in its insurance plans such as enhanced rider protection for an extra premium. It also provides various policy options, premium paying terms, premium paying terms, etc. This makes it very flexible for the customer to choose the insurance plans that are tailor-made for their needs.

    Reliable Service

    HDFC Life is one of the most trusted insurance companies in India because of its reliable customer service. It has a hassle-free and seamless claim settlement process. It had a claim settlement ratio of 99.07% in FY19-20 and an average claim settlement time of 4 days.

    Affordable Plans

    The insurance plans offered by HDFC Life offer a wide range of benefits at unbelievably affordable prices. This is one of the primary reasons for its market dominance and unshakeable market share.

    HDFC Life is one of the leading life insurance companies in India which has won various awards and accolades for its products and services. As of the financial year 2019-20, HDFC Life insurance company had insured over 6.1 Crores lives and was managing over Rs.  1,27,226 Crores worth of assets. It has over 400 branches across India with a strong presence in the major cities of India.

    In April-September 2020, HDFC Life Insurance Company’s market share was 17.50 percent, one of the highest in the whole industry. The company’s market share went on to increase by 235 basis points compared to 15.2 percent in the same period last year. It is one of the two insurance companies that are the constituents of the Nifty 50 index.

    Customer Reviews

    HDFC Life is one of the most credible insurance providers in the country. Their insurance products are designed to provide the best customer experience through their features and benefits. HDFC Life has also significantly simplified and shortened its claim settlement and renewal processes by moving them online. They are known for introducing new features like ClaimSecure that make the claim settlement processes seamless and quick.

    Here are some of the reviews that demonstrate HDFC Life’s approach towards customer experience and service:

    Good Customer Service Ariprasath Ponnurangam

    The customer support executives were clear and to the point in solving my issue without forcing unnecessary details. All other email communications with HDFC Life Team were also on time and user-friendly.

    Easy Buying Process Manas Koli

    The process of buying insurance policies online from the HDFC Life website was very smooth and fast. It just took me a few clicks to buy the life insurance plan that I had selected. The whole process was so fast that I was done with it within an hour.

    Best Features Mukhtiyar Singh

    I was looking for a plan that would help me build wealth over a period of time while also providing me life coverage. HDFC Life being one of the top insurance companies in India, I was also reviewing their plans when I bumped into the HDFC Life ProGrowth Plus plan. It has the best product features at such an affordable premium rate. I would definitely recommend this plan to all my friends, relatives, and family.

    The wide range of life insurance plans offered by HDFC Life has been instrumental in its growth as one of the most established insurance providers in India. It offers a wide array of insurance policies to cater to the diverse financial and insurance needs of the Indian consumer. Over the years, HDFC Life has also developed a strong reputation for coming up with new plans to keep up with the ever-changing insurance needs of its customers.

    HDFC Life insurance has a vast product portfolio that consists of protection plans, retirement solutions, children’s plans, savings and investment instruments, women’s plans, etc. All of the plans offered by HDFC Life in different insurance segments offer lucrative benefits and features to the customers at highly economical premiums. 

    Let us take a look at the different types of plans offered by HDFC Life Insurance:

    HDFC Life Term Plans

    HDFC Life Term Insurance Plans are one of the most benefit-rich and cost-effective plans in India. These plans help you ensure financial security for your family in the case of an unfortunate event. HDFC Life Term plans are designed to provide comprehensive coverage and life protection to their customers at unbelievably cost-effective premiums. 

    HDFC also provides the option of enhancing the coverage of these plans by offering additional riders like personal accident riders or permanent disability riders. HDFC Term insurance plans are offered in various policy options which allows the customers to buy a plan that is tailor-made for their insurance needs,

    Insurance Plan

    Entry Age

    Maturity Age

    Sum Assured

    Policy Term

    Premium Mode

    HDFC Life Click 2 Protect Plus Plan

    18 years to 65 years

    Maximum:

    85 years

    Minimum:

    Rs. 25 Lakhs


    Maximum:

    No Limit

    10 years to 40 years

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Click 2 Protect Health Plan

    For Lifelong Protection Options:

    25 years to 65 years


    For All Other Options:

    18 years to 65 years

    For Lifelong Protection Options:

    Whole of Life


    For All Other Options:

    23 years to 75 years

    Minimum:

    Rs. 10 Lakhs


    Maximum:

    No Limit

    5 years to Whole of Life

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Click 2 Protect 3D plus

    For Lifelong Protection Options:

    25 years to 65 years


    For All Other Options:

    18 years to 65 years

    For Lifelong Protection Options:

    Whole of Life


    For All Other Options:

    23 years to 75 years

    Minimum:

    Rs. 10 Lakhs


    Maximum:

    No Limit

    5 years to Whole of Life

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Retirement Plans

    Retirement is the stage of life where you should be able to enjoy the view after having climbed the mountain all your life. But, to truly enjoy the view, you need to be financially secure with a regular flow of income. HDFC Life offers various retirement and pension plans that are tailor-made for individuals who want to secure their retirement. 

    These plans allow you to live a stress-free life post-retirement through a regular flow of annuity payments. HDFC LIfe retirement and pension plans are also designed to prevent you from rising inflation and the increased cost of living after retirement.

    Insurance Plan

    Entry Age

    Vesting Age

    Sum Assured

    Policy Term

    Premium Mode

    HDFC Life Personal Pension Plus

    18 years to 65 years

    55 years to 75 years

    Minimum:

    Rs. 204,841


    Maximum:

    Depends on age, policy term, premium.

    10 years to 40 years

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Click 2 Retire

    18 years to 65 years

    45 years to 75 years

    Depends on age, policy term, premium, PPT.

    10 years to 35 years

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Pension Guaranteed Plan

    30 years to 85 years

    N.A.

    Minimum:

    Rs. 81,145


    Maximum:

    No Limit

    N.A.

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life New Immediate Annuity Plan

    30 years to 85 years

    N.A.

    Minimum:

    Rs, 10,000 p.a


    Maximum:

    No Limit

    N.A.

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Pension Super Plus

    35 years to 65 years

    55 years to 75 years

    Depends on age, policy term, premium, PPT.

    10 years to 20 years

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Health Plans

    The towering healthcare costs have made comprehensive health insurance coverage a necessity these days. HDFC Life offers a variety of health insurance plans that offer financial security to help you through any health-related contingencies. These health plans will pay you a lump sum benefit if you suffer from any of the covered contingencies. HDFC Life Health Plans are specifically designed to provide financial protection through critical illnesses.

    Insurance Plan

    Entry Age

    Maturity Age

    Sum Assured

    Policy Term

    Premium Mode

    HDFC Life Cardiac Care Plan

    18 years to 65 years

    For Single Pay:

    23 years to 70 years


    For Regular Pay:

    23 years to 75 years

    Minimum:

    Rs.  2 lakhs


    Maximum:

     Rs.  50 lakhs

    5 years to 40 years 

    Single-Premium, Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Cancer Care

    5 years to 65 years

    15 years to 85 years

    Minimum:

    Rs.  10 lakhs


    Maximum:

    Rs.  50 lakhs

    Minimum:

    3 years


    Maximum:

    85 years -

    Entry Age

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Easy Health Plan

    18 years to 65 years

    23 years to 70 years

    Rs.  25,000 to Rs.  5 lakhs depending on the plan option selected

    5 years

    Single-Premium, Yearly

    HDFC Life Child Plans

    HDFC Life offers child insurance plans that ensure the financial protection of your child’s future even in your absence. HDFC Life Child Plans are designed around the idea of building a corpus that can be used for the child’s higher education or for specific goals like college fees or marriage expenses. HDFC Life offers two feature-packed child insurance plans:

    Insurance Plan

    Entry Age

    Maturity Age

    Sum Assured

    Policy Term

    Premium Mode

    HDFC SL YoungStar Super Premium

    18 years to 65 years

    Minimum:

    No Lower Limit


    Maximum:

    75 years

    Minimum:

    7 times the Annual Premium


    Maximum:

    40 times the Annual Premium

    10 years to 20 years

    N.A.

    HDFC Life YoungStar Udaan

    30 days to 60 years

    18 years to 75 years

    100% of the Assured Sum + 25 % of the Assured Sum

    15 years to 25 years

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Savings Plans

    No one knows what the future holds for them. It is very essential to plan the future from the beginning and focus on long-term wealth creation. HDFC Life savings plans are perfect for planning and saving for your future. These life insurance plans allow you to grow your money by offering you multiple avenues to save and invest. These online investment plans are focused on systematic and disciplined investments which help you build your wealth and achieve your long-term financial goals.

    Insurance Plan

    Entry Age

    Maturity Age

    Sum Assured

    Policy Term

    Premium Mode

    HDFC Life Sanchay Plus Plan

    5 years to 60 years

    18 years to 80 years

    Depends on the premium and plan option selected

    6 years to 20 years depending upon the policy option and the PPT

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Sanchay Plan 

    30 days to 65 years depending upon the PPT

    18 years to 85 years

    Minimum:

    Rs. 1,18,392


    Maximum:

    No Limit

    5 years to 40 years depending upon the PPT

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Sanchay Par Advantage Plan

    Minimum:

    0 years (30 days)


    Maximum:

    Depends on income type and PPT.

    Maximum:

    100 years

    Minimum:

    Rs. 3 Lakhs


    Maximum:

    No Limit

    100 minus Age at Entry

    or A fixed policy term in the range of 30-40 years

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Sampoorn Samridhi Plus Plan

    30 days to 60 years

    18 years to 75 years

    Minimum:

    Rs. 65,463


    Maximum:

    No Limit

    15 years to 40 years

    N.A.

    HDFC Life ClassicAssure Plus Plan

    30 days to 60 years

    65 years to 75 years

    Minimum:

    Rs. 48,032


    Maximum:

    No Limit

    10, 15 or 20 years 

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Super Income Plan

    30 days to 59 years

    18 years to 75 years

    Minimum:

    Rs. 1,28,337


    Maximum:

    No Limit

    16, 18, 20, 22, 24, 27 years 

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life ULIP Plans

    ULIP Plans or Unit Linked Insurance Plans are investment cum protection plans that provide you market-linked returns along with the promise of insurance coverage. ULIPs are goal-based financial solutions that subject your investments to risks associated with capital markets. HDFC Life Insurance Company offers a broad range of ULIP products based on different risk appetites and financial goals.

    Insurance Plan

    Entry Age

    Maturity Age

    Sum Assured

    Policy Term

    Premium Mode

    HDFC LIFE Click 2 Invest ULIP

    0 years to 65 years

    18 years to 75 years

    Single premium:

    1.25 times the premium paid


    Regular premium:

    Up to 10 times the annual premium

    5 years to 20 years

    Single-Premium, Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC SL Crest

    14 years to 55 years

    Maximum:

    65 years

    Up to 20 times the annual premium

    10 years 

    Yearly

    HDFC SL ProGrowth Flexi

    14 years to 65 years

    Maximum:

    75 years

    Single premium:

    1.25 times the premium paid


    Regular premium:

    Up to 10 times the annual premium

    10 years to 30 years

    N.A.

    HDFC Life Sampoorn Nivesh

    30 days to 60 years based on the chosen policy option and PPT

    18 years to 70 years based on the chosen policy option and PPT

    Single premium:

    1.25 times the premium paid


    Regular premium:

    Up to 10 times the annual premium

    10 years to 25 years

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life ProGrowth Plus

    14 years to 65 years

    70 years to 75 years

    Up to 40 times the annual premium

    10 years to 30 years 

    Yearly, Half-Yearly, and Monthly

    HDFC Life ProGrowth Super II Plan

    14 years to 65 years

    65 years to 75 years

    Up to 40 times the annual premium

    10 years to 30 years 

    Yearly, Half-Yearly, Quarterly, and Monthly

    HDFC Life Women’s Plans

    HDFC Life Insurance Company widely popular for its innovation in insurance products and services. It has come up with innovative insurance solutions for various segments of the Indian consumer. HDFC Life Women’s Plans are one of those innovations which is specially designed to cater to various financial requirements of women. This insurance policy helps women to plan their future for different stages of life, like retirement, protection, child’s education, etc.

    Insurance Plan

    Entry Age

    Maturity Age

    Sum Assured

    Policy Term

    Premium Mode

    HDFC Life Smart Woman Plan

    18 years to 45 years

    28 years to 60 years

    Minimum:

    7 times the Annual Premium


    Maximum:

    40 times the Annual Premium

    10 years or 15 years

    N.A.

    Best Policies By HDFC Life Insurance

    We have listed some of the best insurance policies by HDFC Life Insurance Company. Take a look at their USPs and features to choose the best HDFC Life Insurance plan:

    Insurance Plan

    USPs

    Minimum Premium

    Premium Paying Tem

    HDFC Life Click 2 Protect Health Plan

    Premium discount of up to 5%


    Nine coverage options under the plan


    Lifelong health protection can be availed with whole life coverage option


    You can increase the sum assured every year through the top-up option

    Depends on age, term and sum assured

    Single Pay, Regular Pay, 

    Limited Pay: 5 years to 39 years

    HDFC Life ProGrowth Super II Plan

    Eight coverage options under the plan


    Coverage options include additional riders for accidental death, disability, and critical illness


    Eight investment funds to choose from that make sure that your investment needs are met

    Rs. 15,000 per annum

    Equal to Policy Term

    HDFC Life Sanchay Plan

    Premiums to be paid for a limited period only


    Guaranteed additions are added to the sum assured every year. The rate of these additions is 8% or 9%.


    The maturity benefit ranges from 180% to 460% of the sum assured

    Rs. 3442 onwards

    Single Pay, 5, 6, 8 and 10

    HDFC Life Personal Pension Plus

    The minimum death and vesting benefit is guaranteed


    The plan offers you a long term investment period for planning a sufficient retirement corpus


    Option to commute up to 60% of the vesting benefit


    The minimum level of the death benefit at all times is 105% of the total premiums paid

    Rs. 204,841

    Equal to Policy Term

    Other Insurance Companies

    HDFC Life Insurance FAQs

    1. Does HDFC Life offer any savings plans that also provide life coverage?

    HDFC Life offers plans like ProGrowth Plus which are feature-rich savings plans that also provide life coverage. HDFC Life ProGrowth Plus plan is a simple saving cum insurance plan that allows its customers to create their own investment strategies and provides them life coverage. It is a ULIP and helps you earn profits by channelizing your savings into equities.

    Similarly, the HDFC Life Super Income plan is a money-back life insurance policy with a limited pay option. Customers receive reversionary and terminal bonuses and survival benefits under this policy. After the premium payment term, this plan provides you a regular income for 8 to 15 years.

    2. Does HDFC Life insurance offer specific plans for life-threatening diseases?

    Yes, HDFC Life offers plans like HDFC Life Cancer Care which provides financial protection for both early and major stages of cancer. Similarly, it also offers HDFC Life Cardiac Care which provides exclusive financial protection specifically designed for cardiac conditions and procedures. In fact, the HDFC Life Easy Health plan also provides the option for critical illness benefit.

    3. What is HDFC Life ClaimSecure?

    HDFC Life ClaimSecure allows customers to settle their claims within one day. Here are some of the features of HDFC Life ClaimSecure:
    Cumulative claim amount on all policies with sum assured less than ₹ 2 crores.
    1-day claim settlement is exclusively available for policies that are bought online.
    The claim does not require any field investigation whatsoever.
    All requisite documents must be submitted by the nominee before 3 PM on a working day at HDFC Life branches. Intimations beyond 3 PM will be taken up by the HDFC Life team on the next business day.
    HDFC Life will also pay interest on the death claim amount of every day of delay beyond one working day.

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