HDFC Life Insurance Vs ICICI Prudential Life Insurance Policy

HDFC Life Insurance

HDFC Life Insurance Company is a privately-owned insurance company, which is also the largest private life insurance provider in the country. It is a joint venture between Standard Life Aberdeen and HDFC Ltd.

Salient features of HDFC Life Insurance

1. It is one of the largest life insurance companies in     India, although privately owned.

2. The range of life insurance products offered by      HDFC Life is designed to fulfill the requirements of      individuals as well as families.

3. The customer experience offered by HDFC Life      Insurance is well-appreciated by all.

Benefits of HDFC Life Insurance

There are several advantages of HDFC Life Insurance and of which people opt for this insurance company. Here are some of them mentioned below:

Affordable: HDFC Life Insurance comes with a wide range of insurance products that suit the needs of the people and are well within the budget.

Customer service: They offer one-of-a-kind customer service, which is available 24X7, and 365 days a year.

Hassle-free claim settlement: HDFC Life Insurance offers state-of-the-art technology so that the claims are processed quickly and the policies are free of hidden charges and clauses.

Life cover till 99 years: Financial protection is provided to your family even when you are not there anymore. The life cover is provided for up to 99 years and the premiums are affordable.

Types of HDFC Life Insurance Plans:

The HDFC Life is divided into various types. Here are some of them mentioned below:

1. Savings Plans

2. Guaranteed Income Plans

3. ULIP Plans

4. Term Plans

5. Combo Plans

6. POS Plans

7. Pension Plans

ICICI Prudential Life Insurance

ICICI Prudential Life Insurance Company Limited is also a private life insurance company, which is also one of the oldest and most established life insurance companies in the country.

Salient features of ICICI Prudential Life Insurance

1. The company offers life insurance at the most     affordable rates.

2. The customer claims are settled within 24 hours      from the time of making the claim and the      company tries its best to provide its customers with      a hassle-free experience.

3. The coverage of life cover of provided till 99 years,      even when you are not around anymore.

4. The company covers around 35 critical illnesses.     If a policyholder is diagnosed with a terminal           illness, he/she gets a 100% coverage amount.

Benefits of ICICI Prudential Life Insurance

Here are some of the advantages of choosing ICICI Prudential Life Insurance mentioned below:

Affordable premium rates: The premiums that you have to pay for ICICI Prudential Life Insurance products are much more affordable than its competitors.

Different products: The company comes with a wide range of insurance products for its customers.

Customer service: ICICI Prudential Life Insurance offers excellent customer service. The customers can use the online chat option to know about their policy and even ICICI Prudential Life Insurance policy status.

Types of ICICI Prudential Life Insurance Plans

Here are some of the types of ICICI Prudential Life Insurance Plans:

1. ULIP Plans

2. Retirement Plans

3. Group Plans

4. Health Plans

5. Rider Plans

6. Rural Plans

7. Term Plans

8. Savings Plans

Comparison of HDFC Life Insurance and ICICI Prudential Life

Mentioned herein below are some of the differences between these two insurance companies.

Claim Settlement Ratio: The Claim Settlement Ratio (CSR) of HDFC Life Insurance Company is 99.07% and the CSR of ICICI Prudential Life Insurance is 97.09 %.

Availability of branches: The numbers of branches of HDFC Life Insurance available in the country are 421, while ICICI Prudential Life Insurance has 947 branches.

Premium payment mode: The premium payment mode in HDFC Life Insurance is Yearly/Half-yearly/ Quarterly/ Monthly, and the same is for ICICI Prudential Life Insurance.

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