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HDFC Standard Life Insurance Company Limited

HDFC Life is a company that was formed by the merger of India’s largest housing finance company – HDFC Ltd., and the globally renowned long-term investment savings firm – Standard Life. It is a private company that provides long term insurance services to its customers. Founded in the year 2000, the company is headquartered in Mumbai, India. With a presence in over 980 cities in India, the insurance products that the company offers include savings, pension, investment, health, and a number of other plans that cater to women and children.

Establishing itself as one of the most trusted insurance companies in the country, HDFC Life offers a number of life insurance plans to individuals and groups.

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Plans Offered by HDFC Life

HDFC Standard Life is well known for the wide array of life insurance plans that it offers to its customers. From term plans to unit linked policies, HDFC life insurance plans offer great features and benefits. Life insurance by HDFCcomes with competitive premium rates and is designed to suit the varied needs of the customers. This segment includes protection plans, health plans, retirement plans, saving and investment plans, and plans for women and children. Some of the most popular plans by HDFC life insurance include:

    Plan Name : HDFC Life Protection Plans: HDFC Life Click 2 Protect Plus

      About the plan

      This is a comprehensive protection plan that is available at an affordable price, and offers protection to you and your loved ones through the uncertainties of life. You can choose the cover to be offered, based on your needs and requirements.

      • The Life Cover option gives the nominee a lump sum payout on the death of the policy holder.
      • The Extra Life cover, with accidental death benefit option, offers another lump sum payout as death benefit. An extra amount is paid if the policy holder’s death was caused by an accident.
      • Under the income option, the nominee receives a sum assured payout and the remaining amount of money is divided into monthly incomes for the next 15 years.

          Benefits

          • Death benefit: If the policy holder dies, the nominee receives benefits, depending on the premium they had been paying for the policy.
          • If it was a single premium policy, the nominee receives the sum assured, as well as 125% of the premium.
          • In other cases, they will receive the sum assured, 10 times the annual premium, and 105% of all premiums paid till the date of demise of the insured.
          • Tax benefits: The policy holder can avail benefits under section 80C and 10 (10D) of the Income Tax Act 1961.

              Plan Name : HDFC Life Savings and Investment Plans: HDFC Life Classic Assure Plus

                About the plan

                The Classic Assure Plus is a plan that offers both investment and insurance benefits and helps the insured develop their money, to be able to meet future requirements. The term for premium payment may range from 7 to 10 years. The plan also offers an assured bonus and insurance coverage throughout the term of the policy.

                    Benefits

                    • The coverage of this insurance is provided to the policy holder throughout the policy term.
                    • During the premium paying term, there is a guaranteed reversionary bonus that is provided.
                    • There is an option of opting for a short Medical Questionnaire, in order to avoid medical tests.
                    • HDFC Bank credit card holders can pay for their policies via EMIs.
                    • Depending on your choice, you can pay the premium monthly, quarterly, half-yearly, or yearly.

                            Note: To know more about this plan, contact insuranceinbox.

                          Plan Name : HDFC Life Retirement Plans: HDFC Life Personal Pension Plus

                            About the plan

                            The Personal Pension Plus plan by HDFC Life can be taken on a single life basis and offers a death benefit of about 101% of the premiums that the policy holder pays.

                                Benefits

                                • This is a participatory traditional pension plan and has an investment range of 10 – 40 years.
                                • You can choose the frequency of your premiums on a monthly, quarterly, half-yearly or annual basis.
                                • You get an assured benefit of 101% of the premiums paid on the death of the policy holder.
                                • There is a range of annuity options available at vesting (on maturity) and you can also get a guaranteed income for life.
                                • The plan also provides tax benefits under section 80 CCC.
                                    Note: To know more about this plan, contact insuranceinbox.

                                Benefits

                                Claims Process by HDFC Standard Life

                                A claim for a life insurance by HDFC needs to be put in by the beneficiary or nominee under the policy. The steps to put in the claim are as follows:

                                Review of HDFC Standard Life Insurance Company Limited

                                HDFC Life has been operating for quite some time in the Indian market, and has managed to garner itself a reputation for being one of the most trusted insurance companies in the country. The company has a claim settlement ratio of 96.54% and has a presence in 980+ cities in the country to provide products and services to customers everywhere.

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