HDFC Life Term Insurance Calculator
HDFC Life Term Insurance Calculator
HDFC Life Insurance is a joint venture between Standard Life Aberdeen plc and Housing Development Finance Corporation Limited. The company commenced its operation in 2000. Since then, it has won many accolades such as – ‘The Best Life Insurance Company’ by BFSI in the year 2018, the 11th Aegis Graham Bell Award’ for Innovative digital transformation for Vision AI and recognized as ‘Superbrand’ in 2021.
HDFC Life Insurance Company offers a wide range of insurance plans, including savings, term, child, retirement, health, and unit-linked plans. In addition, HDFC Life Insurance offers an HDFC term insurance calculator to help you assess the correct premium amount to be paid for the chosen insurance coverage amount.
Benefits of HDFC Life Term Insurance Calculator
- Better buying decision: HDFC Life term insurance calculator helps compare different term policy quotes, making it easier to make the right buying decision. The primary objective of a term insurance calculator is to get the right premium amount and policy cover based on your needs.
- Error Free: The premium calculation in an HDFC Life term life insurance calculator is technology-enabled, and thus there is less chance for any mistake as compared to manual calculations.
- Simple and free of cost: HDFC Life Term Insurance Calculator is free of cost online tool and simple to use. You just need to enter your basic details and get quotes for various term insurance plans in one go.
HDFC Life Term Insurance Plans
- HDFC Life Click 2 Protect Life
- HDFC Life Click 2 Protect Plus
- HDFC Life Click 2 Protect 3D Plus
- HDFC Life Saral Jeevan Bima
1. HDFC Life Click 2 Protect Life: HDFC Life Insurance offers Click 2 Protect plan that includes 3 different coverage options – Life and CI Rebalance, Life Protect, and Income Plus, which you can opt as per your requirements. In addition, the plan gives comprehensive protection with an option for whole life coverage and auto balances death and critical illness benefit with the increase in age.
2. HDFC Life Click 2 Protect Plus: HDFC Life Click 2 Protect Plus comprises several attractive benefits and features, ensuring that the insured is financially secured in a cost-effective manner. It includes 4 cover options – Life Option, Extra Life Option, Income Option, and Income Plus Option, giving a flexible option to the policyholders to choose as per their requirements.
3. HDFC Life Click 2 Protect 3D Plus: This plan comes with 9 cover options, offering policyholders the flexibility to customize their term plan according to their needs and requirements. It provides complete financial protection at an affordable cost backed by several benefits and features.
4. HDFC Life Saral Jeevan Bima: Saral Jeevan Bima by HDFC Life Insurance is a standard term insurance policy that offers comprehensive coverage at affordable premiums. This plan can be purchased by people between 18 to 65 years and provide a minimum sum assured of Rs 5 lakh. Moreover, in case of the insured’s sudden demise, the plan provides a lump sum as the life cover.
Benefits of HDFC Life Term Insurance Plans
- High-life cover at low premiums: HDFC Life Insurance’s terms offer substantial coverage at considerably lower premium rates. Also, the earlier you invest in term insurance lower the premium you will be paying for the term plan.
- MWPA (Married Women’s Property Act) Enrolment Benefit: HDFC Life term insurance plan offer MWPA enrolment benefit, which ensures that the death benefits are legally secured only for the policyholder’s family members.
- Tax Benefits: HDFC Life term insurance plans are eligible for tax benefits under sections 80C and 10(10D) of the Income Tax Act, against the premium paid and insurance payout amount.
- Flexibility: HDFC term insurance plans provide a wide variety of coverage options and premium payment options, allowing the policyholder to opt for the term insurance plans according to their budget and specific requirements.
- Add-on benefits: HDFC term insurance plans can be purchased along with various riders, which enhance the coverage of the base policy while ensuring overall protection. Some of the popular riders include critical illness cover, an accidental disability rider, amongst others.
Is it possible to buy an HDFC term insurance plan online?
Yes, HDFC Life term insurance can be easily purchased online, which is simple, hassle-free, and involves less paperwork. You can also compare various term plans online to be sure about the term plan you are buying.
What are the documents required to buy HDFC Term insurance plan online?
Below is the list of documents that are required to buy an HDFC Term insurance plan online:
Address Proof - Voter ID card, Passport, electricity bill, telephone bill, ration card, bank account statement, utility bill.
Age Proof: Driver license, PAN card, voter ID card, Passport, birth certificate, college/school leaving certificate.
Photo ID Proof: Aadhaar card, PAN card, voter ID card, driver's license, Passport, a recent passport size picture.
Income Proof: Salary slip, Form 16, ITR/assessment order, employer's certificate.
Is it possible to surrender the HDFC term insurance plan?
Yes, you can surrender your HDFC term insurance plan if you don't want to continue it.
Can I change the premium payment frequency for my HDFC term insurance plan?
Yes, you can change the frequency of your premium payment at any time during the policy tenure.
What documents are accepted as ID proof and address proof?
The documents accepted for ID and Address Proof are PAN Card, Aadhar Card, Voter Identity Card, Passport, Driving License, or Bank Account Statement.
How can I know about my claim registration?
As you report your claim, HDFC Life Insurance sends an acknowledgment letter within 15 days of receiving the documents. The progress of the same will be informed through registered email, SMS and letter.
How can I know that my claim is rejected?
HDFC Life Insurance Company shall send a rejection letter within 10 days of the decision along with the reason for claim rejection.
Does HDFC Life Term Insurance Plans cover COVID 19 death claims?
Yes, COVID 19 death claims are covered under HDFC Life Term Insurance Plans.