HDFC Life provides a wide range of options to its customers to pay their insurance premium. Customers can pay their premium with ease using a credit card, via online accounts or over the phone. They can make premium payments online 24x7 from the comfort of their home with or without registering. HDFC Life also gives them an opportunity to get premium due date alerts and reminders and alerts. Customers also have the facility to earn reward points, and avail of cashback offers when making HDFC Life insurance online payments using any of their services.
Here is how HDFC Life online payment for premium is convenient, fast and usually costs you less.
HDFC Life online payment provides a simple and easy online facility for its policyholders to pay their policy premiums online. There are various ways to pay premiums online using credit or debit cards, Net Banking, UPI, and Bill Pay, digital wallets, along various offline and auto payment options.
Here are the various methods of online premium payment:
Customers can access the official insurer website and login into the My Account section. My Account feature allows policyholders to manage their insurance policy online. Customers can log in to existing accounts or register as new customers and then take care of the payment. They can pay the premium online using Net Banking, Credit card, Debit card, wallets and other methods.
Customers who are also HDFC account holders can pay their premium in 3 clicks through their HDFC net banking account.
Step 1: Log in to the HDFC Net Banking account and click on the Insurance tab
Step 2: Select HDFC Life>>Renew Policies
Step 3: Enter policy no. and DOB and make the payment through any mode listed.
Policyholders can download the HDFC Life App from the Play Store or the App Store. They can register themselves and then login with their credentials to make the premium payment through any of the listed payment instruments.
Quick Pay is a quick, secure, and hassle-free method for the online premium payment offered by HDFC Life to its customers. By using this facility, policyholders can make HDFC Life online payment of their policy premiums on various platforms in a secure and swift manner. The steps to make payments using Quick Pay are as follows:
Step 1: Visit the official insurer website and click on the Customer Service section.
Step 2: Find the 'Pay Premium' tab and click on 'Pay Premium Online.
Step 3: Customers will be redirected to the Quick Pay page.
Step 4: They need to provide their policy number and DOB.
Step 5: After entering these details, their policy information and premium due details will be displayed on the screen.
Step 6: Customers can confirm their details and make the premium payment by any of these methods:
Customers need to register for Auto debit on the card by providing a Standing Instruction to the bank while paying through Visa or MasterCard.
NACH or National Automated Clearing House is an automatic banking facility. It allows the policyholder to select the date when their premium amount due can be debited from their bank account for premium payment.
Policyholders need to submit a cancelled cheque and the Auto Debit Mandate at an HDFC Life branch to avail of this facility.
HDFC Bank credit cardholders, who are also policyholders, can make their premium payments using their credit card. The bank provides an automated facility of deducting the premium amount due, on or before the due payment due date, as per the Standing Instruction, from the policyholder’s HDFC credit card.
HDFC Standard Life policyholders can make HDFC Life online payment of premium via the NEFT (National Electronic Fund Transfer) or eCMS service. For this, they need to add or register HDFC Life as a beneficiary in their net banking account. This will ensure regular premium payments through Net banking. Customers need to choose the correct policy type and confirm the exact premium amount before making the premium payment via NEFT or eCMS.
Other modes of making payment online are as follows:
Here are the steps:
Step 1: Find Bill Payment. Click on the tab for Bharat BillPay/Pay Bills.
Step 2: Select Insurance>> HDFC Life.
Step 3: Provide the Policy Number and DOB details.
Step 4: Confirm the premium details and proceed with the premium payment using any of the available options.
HDFC Life online payment for premium is conducted completely online on the insurer or the insurance aggregator’s website or the HDFC Life app. It requires internet access and online banking details. Individuals initiate and complete the payment through an online payment gateway. The whole process is online and virtual but results in the transfer of funds to the insurer.
The offline payment for insurance premium can be made at HDFC bank branches or their local insurance offices. Customers can make payments through cheques and DDs. The customers have to be manually present at the bank or the branch office to make the payment. The process can be time-consuming when a queue of people is there to make the payment. Also, centres offering offline payments are not open 24 X 7, and users have to visit them as per scheduled timings.
The following is the necessary information required while using the online process of premium payment: