HDFC Life Insurance Company

Term insurance

Term insurance plans are pure protection plans. They aim to provide financial assistance to your family in your absence. The hdfc life insurance premiums are extremely low so that you can afford a high sum assured for optimal coverage. Term plans fulfill the income replacement needed if the breadwinner of the family faces premature death.

The HDFC Life Insurance Company Term Insurance Plan:

1. HDFC Life Click2Protect Life
A comprehensive term insurance plan, Click2Protect Life is available online and can be bought with ease and convenience. The main features of the plan are as follows –

• There are three plan options – Life Protect Option, Life and CI Rebalance Option, Income Plus Option
• While the Life Protect option is a basic term plan, Life and CI Rebalance provides coverage for critical illnesses and Income Plus Option allows regular incomes and a maturity benefit
• You can choose to avail of coverage for your entire life
• The return of premium option is available under the policy which refunds your premiums on maturity
• Other riders are also available with the plan for enhanced protection

Endowment assurance plans:

Endowment assurance plans are savings-oriented life insurance solutions. They help you create a secured corpus for your financial goals and promise either a death benefit or a maturity benefit. Endowment plans also come as participating plans that enhance your corpus with bonus additions.

The endowment plans of HDFC Life Insurance Company:

1. HDFC Life Sanchay
This is a non-participating endowment policy that pays guaranteed benefits on death or maturity. The salient features of the plan are as follows –

• You can pay the premium for a limited tenure or in one lump sum when buying the policy and enjoy long-term coverage.

• A guaranteed return is added to the sum assured on maturity. This return ranges from 140% to 160% of the sum assured on maturity depending on the term selected.

• Buy the plan instantly with a Short Medical Questionnaire

• Guaranteed additions are added to the sum assured @8% or 9% of the sum assured on maturity. These additions enhance the corpus

• Two optional riders are available for enhanced protection
   

2. HDFC Life Sanchay Plus
A non-participating endowment plan, HDFC Life Sanchay Plus promises guaranteed benefits and the flexibility of choosing the desired coverage with different plan options. The features of the plan are as follows –

• A guaranteed benefit is paid on the death or maturity of the policy. You can avail of these guaranteed benefits as a lump sum benefit or in the form of regular incomes

• There are four plan variants – Guaranteed Maturity Option, Guaranteed Income Option, Lifelong Income Option, and Long Term Income Option

• You can choose to receive guaranteed incomes till 99 years of age under the Lifelong Income Option variant

• The total premiums paid are refunded back if you choose the Lifelong and Long Term Income plan variants. The premium is refunded after the income pay-out period comes to an end

Money-back insurance plans

Money-back insurance plans are also savings-oriented life insurance plans. However, unlike endowment plans, money-back plans pay a portion of the sum assured regularly at periodic intervals. This gives liquidity without compromising the coverage. On death, however, the full sum assured is paid. Thus, money-back plans allow liquidity, guaranteed savings, and insurance protection.

Unit Linked Insurance Plans

Called ULIPs in short, unit-linked plans are investment-oriented insurance plans. They give you the benefit of market-linked investments and insurance coverage in one policy. The premium that you pay is directed towards market-linked funds so that you can earn inflation-adjusted returns. Moreover, ULIPs also allow flexibility in the form of particle withdrawals, switching, top-ups, etc.

Child insurance plans

Child insurance plans help you in creating a secured corpus for your child. These plans usually come with a premium waiver benefit. In the case of the death of the parent, the plan continues but the premium is waived off. This way the corpus is secured so that the child can use it when needed.

Retirement plans

Retirement plans, or pension plans as they are popularly called, help you save and create a corpus for your retirement. Deferred pension plans help you to accumulate a corpus while immediate annuity plans pay lifelong incomes after you retire.

Health insurance plans

Health insurance plans help you meet the financial implications of medical emergencies. These plans pay a lump sum benefit in specified medical conditions that are covered under the policy. This benefit helps you meet the costs of treatment and other financial obligations that you might have.