HDFC Life Investment Plans

4.3 / 5 based on 24 User Reviews
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HDFC Traditional / Investment Plans

HDFC Standard Life Insurance Company is a joint venture between Housing Development Finance Corporation Limited (HDFC) and Standard Life plc based out of UK. While HDFC holds 74.60% of the company’s stake, Standard Life (Mauritius Holding) Limited holds 26% while the remaining is held by others. With the expertise of HDFC and Standard Life together under one umbrella, HDFC Standard Life has become a market leader in the insurance sector offering a wide range of products at competitive rates. Moreover, the company boasts of a strong foundation of sales force which helps to increase the company’s market share in the insurance sector. The range of products offered by HDFC include Protection plans in the form of term plans, Child Plans, Savings and Investment Plans which are available in both conventional or ULIPs form and pension plans.

What are Traditional / Investment Plans

Traditional plans, also called Conventional Insurance Plans are plans where money is invested as per the guidelines laid down in the Insurance Act. The whereabouts of the invested premium is not known to the policyholder. The policyholder is simply promised certain benefits payable on death, maturity or as money back. Traditional Investment Plans have some of the basic features which are mentioned below:

  • These plans are issued for a longer term perspective and money cannot be withdrawn from the plans.
  • In case of stopping the premium payment, the plan becomes paid-up if at least three full years’ premiums have been paid. A paid-up plan has a reduced Sum Assured and the policyholder has a choice to either run the plan at the reduced coverage or surrender the plan.
  • The plans may be offered as participating or non-participating plans. Participating plans are entitled to participate in the company’s profits and earn bonuses which are not true for non-participating plans.
  • The plans may be issued either as Endowment Plans or Money Back Plans

HDFC Life Traditional /HDFC Investment Plans

HDFC Life Insurance Company offers various types of Traditional / Investment Plans to its customers with attractive features and benefits. Here is the detailed list of plans along with their respective features and benefits.

HDFC Life Sanchaya traditional Endowment plan which has the following features:

  • Guaranteed Additions accrue under the plan for each completed policy year which depends up on the policy tenure. The rate of these additions is 8% of the Sum Assured for policy tenure of 15-19 years and 9% of the Sum Assured for policy tenure of 20-25 years.
  • On maturity, the Sum Assured and the aggregate Guaranteed Additions is paid to the policyholder.
  • In case of death, higher of the Sum Assured or 10 times the annual premium is paid including the Guaranteed Additions subject to a minimum of 105% of all premiums paid till the date of death
  • Smokers are charged with extra premiums
  • Loan can be availed under the plan up to a maximum of 80% of the Surrender Value
  • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

Eligibility Details of HDFC Investment Plan

 

Minimum

Maximum

Entry Age

30 days

45 years

Maturity Age

18 years

70 years

Policy Term

15 years

25 years

Sum Assured

Rs.112, 953

No limit

Annual Premium Amount

Rs.30, 000

No limit

Premium Payment Term

5, 8, 10 years

Premium Payment Frequency

Yearly, half-yearly, quarterly, monthly

 

HDFC Life Super Income Plana savings plan which also provides for regular incomes. The features of the plan are as follows:

  • The plan has 6 options of availing the regular incomes each with a different combination of term, premium paying term and the benefit percentage.
  • The Guaranteed Base Income (GBI) is paid every year after the completion of the premium paying term till the end of the policy term. The rate of the benefit paid ranges from 8% - 12.5% of the Sum Assured depending on the plan option chosen.
  • The benefit can also be availed monthly @ 8% of the annual payout
  • On maturity, the last instalment of the GBI is paid along with the vested bonus, interim bonus and terminal bonus, if any.
  • In case of death, higher of the Sum Assured on maturity or 10 / 7 times the annual premium including the vested bonus, interim bonus and terminal bonus, if any is paid subject to a minimum of 105% of the total premiums paid till the date of death.
  • High Sum Assured rebates are allowed for coverages of Rs.4 lakhs and above.
  • Loan can be availed under the plan up to a maximum of 80% of the Surrender Value
  • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

Eligibility Details of HDFC Investment Plan

 

Minimum

Maximum

Entry Age

30 days

59 years

Maturity Age

18 years

75 years

Policy Term

16 years

27 years

Sum Assured

Rs.128, 337

No limit

Annual Premium Amount

Rs.24, 000

No limit

Premium Payment Term

8, 10, 12 years

Premium Payment Frequency

Yearly, half-yearly, quarterly, monthly

 

HDFC Life Classic Assure Plusa traditional Endowment Plan with the following features:

  • Guaranteed Reversionary Bonus @ 3% of the Sum Assured is added every year during the premium paying term
  • On maturity, the Sum Assured including the accrued bonuses, guaranteed reversionary bonus and terminal bonus, if any, is paid to the policyholder
  • In case of death, higher of the Sum Assured or 10 times the annual premium including the vested bonus, interim bonus and terminal bonus, if any is paid subject to a minimum of 105% of the total premiums paid till the date of death.
  • High Sum Assured rebates are allowed for coverages of Rs.10 lakhs and above.
  • Loan can be availed under the plan up to a maximum of 80% of the Surrender Value
  • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

Eligibility Details

 

Minimum

Maximum

Entry Age

30 days

60 years

Maturity Age

18 years

75 years

Policy Term

10, 15 or 20 years

Sum Assured

Rs.49, 447

No limit

Annual Premium Amount

Rs.12, 000

No limit

Premium Payment Term

7, 10 years

Premium Payment Frequency

Yearly, half-yearly, quarterly, monthly

 

HDFC Life Super Savings Plana traditional Endowment Plan with the following features:

  • It is a participating plan which earns simple reversionary bonus, interim bonus and terminal bonus.
  • On maturity, the Sum Assured and the vested bonuses is paid to the policyholder
  • In case of death, higher of the Sum Assured or 10 times the annual premium including the vested bonus, interim bonus and terminal bonus, if any is paid subject to a minimum of 105% of the total premiums paid till the date of death.
  • The plan has an inbuilt Accidental Benefit Rider which pays an additional Sum Assured if the insured dies due to an accident
  • Loan can be availed under the plan up to a maximum of 80% of the Surrender Value
  • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

Eligibility Details

 

Minimum

Maximum

Entry Age

30 days

60 years

Maturity Age

18 years

75 years

Policy Term

15 years

30 years

Sum Assured

Rs.245, 145

No limit

Annual Premium Amount

Rs.24, 000

No limit

Premium Payment Term

Equal to policy term

Premium Payment Frequency

Yearly, half-yearly, quarterly, monthly

 

HDFC Life SampoornaSamridhi Plusa traditional Endowment plan which can be converted to a Whole Life Plan. The features are as follows:

  • There are two plan options of Endowment and Endowment with Whole Life
  • The option of Endowment with Whole Life can be chosen where the plan runs till death of the insured or till he attains 100 years whichever is later and on death the Sum Assured on Maturity is paid
  • Guaranteed Additions are added in the first 5 policy years @ 3% for a term of 15-19 years, 4% for a term of 20-25 years and 5% for a term higher than 25 years
  • On maturity, the Sum Assured on maturity including the guaranteed additions, vested bonuses and terminal bonus, if any, is paid
  • In case of death higher of the Sum Assured on maturity or 10 / 7 times the annual premium including the guaranteed additions, vested bonuses and terminal bonus, if any, is paid subject to a minimum of 105% of all premiums paid till the date of death
  • The plan has an inbuilt Accidental Benefit Rider which pays an additional Sum Assured if the insured dies due to an accident
  • Rebates are allowed in premium for choosing a high Sum Assured level of Rs.1.5 lakhs and above
  • Loan can be availed under the plan up to a maximum of 80% of the Surrender Value
  • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

Eligibility Details

 

Minimum

Maximum

Entry Age

30 days

60 years

Maturity Age

18 years

70 years

Policy Term

15 years

30 years or 100 years - age

Sum Assured

Rs.65, 463

No limit

Annual Premium Amount

Rs.12, 000

No limit

Premium Payment Term

Policy term – 5 years

Premium Payment Frequency

Yearly, half-yearly, quarterly, monthly

 

HDFC Life Uday –a traditional plan with the following features:

  • It is a participating plan which earns simple reversionary bonus, interim bonus and terminal bonus
  • Guaranteed Additions @3% of the Sum Assured at maturity accrue in the first 5 years of the plan
  • On maturity, the Sum Assured on maturity including the guaranteed additions, vested bonuses and terminal bonus, if any, is paid
  • In case of death higher of the Sum Assured on maturity or 10 / 7 times the annual premium including the guaranteed additions, vested bonuses and terminal bonus, if any, is paid subject to a minimum of 105% of all premiums paid till the date of death
  • The plan has an inbuilt Accidental Benefit Rider which pays an additional Sum Assured if the insured dies due to an accident
  • Rebates are allowed in premium for choosing a high Sum Assured level of Rs.2 lakhs and above
  • Loan can be availed under the plan up to a maximum of 80% of the Surrender Value
  • Tax benefit is available on the premium paid and the claim received. The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received in exempt under Section 10(10D) of the Income Tax Act.

Eligibility Details

 

Minimum

Maximum

Entry Age

18 years

55 years

Maturity Age

30 years

70 years

Policy Term

12 years

15 years

Sum Assured

Rs.28, 465

No limit

Annual Premium Amount

Rs.5000

No limit

Premium Payment Term

8 or 10 years

Premium Payment Frequency

Yearly, half-yearly, quarterly, monthly

 

Applying for a Traditional / Investment Plan from the company:

Online

The company offers specific plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued

Intermediaries

Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.

HDFC Life Investment Plans - FAQs

1. How to pay premium? What are the modes of payment available?

You can pay your HDFC Life Insurance premium through ANY these following methods:

  • ECS SYSTEM
  • Bill Pay – EBPP (Electronic Bill Presentment and Payment)
  • Drop box
  • YES /AXIS Bank debit card
  • Bill pay-EBPP(Electronic bill presentment and payment)
  • Cash/Cheque Payments
  • NEFT

For paying premium online, please visit e-portal.

Step 1: Enter your policy details – policy number and policyholders date of birth

Step 2: Pay from your debit/ credit card or select your online bank account to make the payment

Step 3: Authenticate and confirm your payment details and receive online premium payment receipt

2. How can I check policy status for HDFC Life investment plans?

You can check policy status online, if you are a registered user. Simply log into the e-portal with your Client ID and password to check the policy status.

3. What is the policy renewal process for HDFC Life investment plans?

Renew your policy online. Here are the steps;

Step 1: Login with your customer ID and password on

Step 2: Select the policy due for renewal payment. Click Pay Renewal Premium Now

Step 3: Choose payment option- Credit/Debit Card or NEFT

Step 4: Authenticate and confirm your payment details and print the payment receipt

4. What is the company’s process to settle claim for HDFC Life investment plans?

For HDFC Life Insurance policyholders, Cashless facility is permitted in case of hospitalization or surgery. For others the process is as follows;

Step 1: Duly fill the claims form

Step 2: Attach the relevant documents- medical bills, reports, accident report- with your claims form

Step 3: Submit the documents at the Claims Office at any of your nearest HDFC branch in your city

Alternatively, you can post it at their registered headquarter:

HDFC Standard Life Insurance Company Ltd.Lodha Excelus, 13th Floor Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India.

 

5. What is the policy cancellation process for HDFC Life investment plans?

Policyholders must attach all the relevant policy documents along with a duly filled surrender form at any of the branch locations in their city. Within 72 hours, the refund will be made into your bank account, post deducting cancellation charges, stamp duty (if any), and medical tests.

HDFC Life Investment Plans Reviews

TOTAL REVIEWS (24)
S.B
Kolaval
September 06, 2016

Perfect

The traditional insurance plan i have is perfect and the premium is also less. Great services provided by hdfc life insurance company. Policy cover's maximum and claims are high which is simple to cleared. The any further information or updates are mailed to me regularly.

Vijay
Kamrup
August 24, 2016

Traditional Insurance Plan

Great traditional insurance plan i have purchased in less investment. Service is fine but the online renewal through online portal is very good option. Policy coverage and claims are more than i expected. Fabulous work you have done hdfc standard life insurance.

Jiten
Fakirpur
August 22, 2016

Investment plan

HDFC life insurance provide's me the traditional insurance policy. The policy coverage is good and claiming procedure is simple only because of quick service provided by the executives and staff members.

Kunal
Mumbai
April 15, 2016

Great Policy

I own hdfc insurance traditional plan. Plan is good and premium is low. Policy coverage is high ~89 and payback returns too. Claiming amount is Rs.43 L after policy get mature. Service is fast like super sonic speed. The daily updates are mailed to me time to time. Overall, perfect policy plan which save tax too.

Yogesh
Kota
April 15, 2016

Perfect Plan

My hdfc life traditional policy plan is good in services. The policy coverage is good ~93% and the premiums are low. Claiming process is easy due to fast service provided by the executives and the staff members. The payback amount is ~Rs.41 L. I like the terms and conditons. Good work.

Prashant
Surat
April 15, 2016

Good

The policy i have is hdfc traditional policy plan which is very good and the premiums are low with high in policy coverage 91%. The claiming part is very easy because the service is very fast with good response from the staff members. Nice future investment with tax savings. I like the policy.

Rahul
Pune
February 22, 2016

Hdfc life classic Assure plus plan

i got policy classic assure plus. It was the one of the best plan ever. i always refers to my frends take this plan. Service is also Good.

Kuntal
Kolkata
February 18, 2016

above average.

I own hdfc life insurance traditional plan. Plan is good and investment is low. Policy coverage is 80% and the claims Rs.15 lakh. Service you provided is good and every time the work done at correct time period.
Plan Name: Click2Invest
Agent Code: BPW00248

Mainak
Mumbai
February 18, 2016

Nice insurance.

My policy is hdfc traditional plan. The service is really very attractive and the premium is 4899. Claims is Rs.18 lakh and the policy coverage is 70-80%. I'm happy with my policy plan.
Plan Name: Click2Invest
Agent Code: BBE04411

Amruthesh
Bengaluru
February 16, 2016

Fair plan.

Plan is good with average facilities. Low inputs and out comes are also less. HDFC life insurance traditional plan is one of the most popular plan in middle class people. Premium is Rs.3599 quaterly and return is around 17 lakhs.
Plan Name: Click2Invest
Agent Code: BBE05131

RAVI
Bhopal
February 16, 2016

superb plan...

I buy traditional plan from hdfc life insurance. My plan is full of services. Low premiums and the paybacks are high. I'm tension free now for my future because of this policy. Great investment and reduces my taxes too. happy with your services.
Plan Name: Click2Invest
Agent Code: BBE05131

Harsh
Pune
February 16, 2016

"Damn Good"

i bought hdfc insurance traditional plan. The plan consist various benefits like high policy coverage and claims. The premium is Rs.4999 and the returns is around Rs.27 L. The service is very good, i'm really happy with it.
Plan Name: Click2Invest
Agent Code: BBE05131

Jagdish
Pune
February 05, 2016

"No One Chase This"

I have the best policy plan from standard life. The benefits are countless with low premiums. Policy coverage is 80-89%. Claims approx. Rs.24 lakh with easy procedure to get it. I'm really happy with this policy...
Plan Name: Click2Invest
Agent Code: BBE06002

Sarveswara
Bengaluru
February 05, 2016

"Not That Bad"

I have life traditonal policy by hdfc standard. Policy have few benefits like 60% coverage, 70% claims and okay okay services. The experience is nice till now, rest see in future.
Plan Name: Click2Invest
Agent Code: BPW01312

Amandeep
Hyderabad
February 05, 2016

"An Average Policy"

The policy i got from HDFC is not good. The services are slow, claims are taking ages to clear, policy coverage i don't want to tell but low. Not good, never expect this from you.
Plan Name: Click2Invest
Agent Code: BPW01312

Chetan
Pune
February 05, 2016

"Average"

Bought life insurance from HDFC. The policy is average and the coverage is 50%. The claims are low but the premiums are also less. The service is very slow, please work on it. Not satisfied...
Plan Name: Click2Invest
Agent Code: BBE06002

Kishor
Nasik
February 05, 2016

"Fine"

HDFC provide me very useful policy. The service is great with fast interface. Policy coverage is low as the premiums also low. The claiming is easy and approx. 80%. Nice policy with good benefits.
Plan Name: Click2Invest
Agent Code: BBE06002

Manish
Korba
February 04, 2016

"Nice Policy"

My whole family buy the standard insurance. HDFC really provide great deals. Policy covers 90% of the cases. The service is awesome. I haven't claim yet, so can't say much about it but the conditions for this is really catchy.
Plan Name: Click2Invest
Agent Code: BPW01312

Ashwin
Kanpur
February 04, 2016

"Not Good"

HDFC standard is not recommended at all. Very bad experience, no policy coverage, no claims, and never expect the any service is provided at needed time.
Plan Name: Click2Invest
Agent Code: BPW01312

Utpal
Bijapur
February 04, 2016

"The Best"

Fantastic fast service by the staff of Policybazaar on the phonecall, buying life insurance from HDFC Standard Life Insurance and would recommend it. Service is superb, policy coverage is great, claim is done on time without any interruption. Gave you four out of five stars.
Plan Name: Click2Invest
Agent Code: BBE06002

Tarique
Hazaribagh
February 04, 2016

"Fine Sevice With Low Premium"

Finally got fine deal in life insurance with HDFC Standard Life Insurance. Best plans, coverage, service, claims and many more other benefits. Regular updates via., mail or text messages on my cellphone. Satisfied!!!
Plan Name: Click2Invest
Agent Code: BBE06765

Mohanish
Ghaziabad
February 04, 2016

"Fantastic"

Recently purchase life insurance by HDFC Standard Life Insurance. The Policy plans are nice respect to others. The policy coverage is also good about 70%. Service is like no one can replace. Claiming experience really good, never the less good to purchase. Lucky I have one.
Plan Name: Click2Invest
Agent Code: BBE03914

Soumitra
Gurgaon
February 04, 2016

"Average"

Seeing a good ploicy to invest and finally got one HDFC Standard Life Insurance. Plans are cool, services are great. Claims 80% and coverages are high. The experience with having you is good till now, hope same and more for future.
Plan Name: Click2Invest
Agent Code: BBE03914

Ratan
Calicut
December 20, 2015

Good to go with hdfc life investment plan

Just bought a plan from here, feeling good to get it so fast. Good customer service from Policybazaar, i could actually bought hdfc life sanchay for 20 years. The product is very good and I would recommend this for everyone.