HDFC Life 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.

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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  • These plans are issued for a longer term perspective and money cannot be withdrawn from the plans.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.

  1. HDFC Life Sanchay

    A 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

    You May like to Read: HDFC Life Sanchay Plus
  2. HDFC Life Super Income Plan

    A 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
  3. HDFC Life Classic Assure Plus

    A 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

  4. HDFC Life Super Savings Plan

    A 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
  5. HDFC Life SampoornaSamridhi Plus

    A 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
  6. 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 HDFC Standard Life Insurance 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

  • Q1. 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

  • Q2. 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.
  • Q3. 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

  • Q4. 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.

  • Q5. 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.

    Click Here: Tax Benefit on ULIP

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Average Rating
(Based on 24 Reviews)
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HDFC Life Investment Plans Reviews & Ratings

4.3 / 5 (Based on 24 Reviews)
(Showing Newest 10 reviews)
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
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