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Fincash » Term Insurance » HDFC Term Insurance

Get to Know About HDFC Term Insurance

Updated on August 4, 2022 , 944 views

Whether you have a dependant or a huge family to take care of, choosing Term Insurance has become an impertinent necessity these days. Undeniably, the best term insurance is the one that offers value for your money.

Basically, term insurance is the basic policy that offers an amount to the family or dependant of the insured, in case the person passes away. HDFC, one of the trusted institutions, has come up with a term insurance plan that could be perfect enough to fulfil your needs.

HDFC Term Insurance

If you are ready to get insurance, in this post, find all the details about the HDFC term insurance.

Types of HDFC Term Insurance

1. HDFC Life Click 2 Protect Plus

This one is an HDFC term plan that protects the future of your family within a minimal premium cost. This plan safeguards you as well as your family against major risks. It also provides multiple offers that you can choose according to your needs. Upon buying this plan, you also get varying payment options; thus, the death benefits can easily be used by your beneficiary.

Features

  • 4 different HDFC life term plan options, such as Life Option, Extra Life Option, Income Option and Income Plus Option
  • Monthly income option under Income and Income Plus Option
  • Seamless increase of the insurance cover
  • Add riders for critical illness or accidental disability

Exclusions

  • Suicide or self-inflicted injury
  • Consumption of solvent abuse or alcohol
  • Being a part of riot or civil commotion, revolution, rebellion, civil war, hostilities, invasion, and war
  • Being a part of the flying activity
  • Being a part of any criminal intent or nature
Eligibility Criteria Life Option Extra Life Option Income Option Income Plus Option
Age 18 – 65 years 18 – 65 years 18 – 65 years 18 – 65 years
Policy Term 5 – (85 years age of entry) 5 – (85 years age of entry) 10 – 40 years 10 – 40 years
Premium Payment Mode Single & Regular Pay Single & Regular Pay Single & Regular Pay Single & Regular Pay
Premium Payment Frequency Single, Annual, Monthly, Half Yearly, Quarterly Single, Annual, Monthly, Half Yearly, Quarterly Single, Annual, Monthly, Half Yearly, Quarterly Single, Annual, Monthly, Half Yearly, Quarterly
Age at Maturity 23 – 85 years 23 – 85 years 23 – 75 years 23 – 75 years
Basic Sum Assured Rs. 25 lakhs to unlimited Rs. 25 lakhs to unlimited Rs. 25 lakhs to unlimited Rs. 25 lakhs to unlimited

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2. HDFC Life Click 2 Protect Health

Another HDFC term insurance plan is Life Click 2 Protect Health. This policy type is crafted after HDFC collaborating with Apollo Munich Health Insurance. With this plan, you can avail the dual benefit of life as well as health insurance in one plan. Along with that, it also covers terminal illness, critical illness, accidental benefits, etc.

Features

  • Customization of the HDFC life term insurance is available with 9 different options
  • The low premium rate for non-tobacco and female users
  • Ability to update the cover accordingly
  • Restoration of the insured sum upon exhaustion
  • Lifelong renewal if there is a continuous renewal

Exclusions

  • Being a part of criminal intent or nature
  • Taking participation in flying activity
  • Being a part of riot or civil commotion, revolution, rebellion, civil war, hostilities, invasion, and war
  • If there is a suicide committed by the policyholder, 80% of the paid premium will be returned
Eligibility Criteria Protection (All options except Life Long Protection Option & 3D Life Long Protection Option) Protection (Life Long Protection Option & 3D Life Long Protection Option) Health
Age 18 – 65 years 25 – 60 years 91 days – 65 years
Policy Term 5 – 40/50 years whole life 1 – 2 years
Premium Payment Mode Single & Regular Pay Single & Regular Pay Single & Regular Pay
Premium Payment Frequency Single, Annual, Semi-Annual, Quarterly, Monthly Single, Annual, Semi-Annual, Quarterly, Monthly Single, Annual, Semi-Annual, Quarterly, Monthly
Age at Maturity 23 – 75/85 years Whole Life Life-Long on Continuous Renewals
Basic Sum Assured Rs. 10 lakhs to unlimited Rs. 10 lakhs - unlimited Rs. 3 lakhs – Rs. 50 lakhs

3. HDFC Life Click 2 Protect 3D Plus

This HDFC 3D Plus plan is comprehensive term insurance that can be availed at affordable prices. The 3D in the name represents three different uncertainties of life, such as Death, Disease, and Disability. With flexible 9 options, you can easily fulfil your requirements with this one single plan.

Features

  • Wide variety of options with 9 different HDFC life 3D Plus plans
  • Option to choose the death benefit in monthly payments or a lump sum
  • Availability of premium return option
  • The benefit of terminal illness is also available
  • Inbuilt critical illness and accidental total disability under varying options
  • Low premium rates for those who are non-smokers and maintaining a proper healthy lifestyle

Exclusions

  • Any of the critical illness conditions that have been listed and cause death within 30 days of diagnosis
  • Any sickness or illness manifesting within 90 days from the date of policy commencement
  • Suicide or self-inflicting injury
  • Use of sedatives, medication, drug or alcohol
Eligibility Criteria All Options (except Life Long Protection Option & 3D Life Long Protection Option) Life-Long Protection Option & 3D Life Long Protection Option
Age 18 – 65 years 25 – 65 years
Policy Term 5 – 40/50 years Whole Life
Premium Payment Mode Single Regular, Limited Pay (5-39 years) Limited Pay (65 – the age at entry or 75 – the age at entry)
Premium Payment Frequency Single, Annual, Semi-Annual, Quarterly & Monthly Annual, Semi-Annual, Quarterly & Monthly
Age at Maturity 23 – 75/85 years Whole Life
Basic Sum Assured Rs. 10 lakhs Rs. 10 lakhs

Documents Required to Get HDFC Term Insurance

  • Proof of Age
  • Proof of Identity
  • Proof of Address
  • Proof of Current Income
  • Medical Tests Results

How to Claim HDFC Term Insurance?

HDFC claim process is quite simple and straightforward. Moreover, it has even got a higher claim settlement ratio, which currently stands at 97.62%. If you buy this policy, below-mentioned are some steps that you’d have to follow:

  • Visit the HDFC Life Website and fill in the form to inform them for claim
  • If not, you can also email them for a critical illness or Life Insurance claim at claims[@]hdfclife[dot]com

Below-mentioned is the tentative list of documents that you will have to arrange while claiming your settlement:

In Case of a Natural Death

  • Authorised death certificate
  • Filled claim form
  • Original policy document
  • Nominee identity and the residence proof
  • Medical records of previous illnesses or at the time of death (if any)
  • NEFT Bank account details

In Case of an Unnatural Death (Suicide/ Murder/ Accidental Death)

  • Authorised death certificate
  • Police report and FIR
  • Post mortem report
  • Original policy document
  • Nominee identity and the residence proof
  • NEFT bank account details

In Case of a Natural Calamities/ Disaster

  • Authorised death certificate
  • Filled claim form
  • Original policy document
  • Nominee identity and the residence proof
  • Medical records of previous illnesses or at the time of death (if any)
  • NEFT bank account details

In Case of a Critical Illness Claim

  • Filled claim form
  • Original policy document
  • Nominee identity and the residence proof
  • Medical records of previous or current illnesses, including diagnostics test
  • NEFT bank account details

HDFC Term Insurance Customer Care

  • Toll-Free Number: 1800-266-9777
  • Email: buyonline[@]hdfclife[dot]in
Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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