HDFC Life Group Credit Protect Plus Insurance Plan

HDFC Life Insurance offers its group credit life insurance plan that offers cover against the death, disability, and illness of the life assured. The plan helps by paying off the remaining loan and protecting the family from facing financial burden in your absence.

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Key Features of HDFC Life Group Credit Protect Plus

Here are the key features of this credit life insurance offered by HDFC Life Insurance:

The plan provides comprehensive group coverage against the death, disability, or critical illness diagnosis of the insured.
You get the flexibility of choosing from decreasing and level cover options.
Select the most suitable loan cover term that can go up to 30 years.
You can choose to pay the complete premium only once with the single pay option.
Get cover for single or joint life as per your individual needs.
The moratorium period is of 1 to 7 years under this plan, where the level of cover is offered during this period.
The members can opt for a cover term lower than the loan term.
You can also opt for the cover top-up loans via a separate repayment schedule.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

Benefits Offered Under the HDFC Life Group Credit Protect Plus

Plan Options

Plan Options	Cover Available
Life Option	Death Benefit
Extra Life Option	Additional Death Benefit on the Accidental Death
Terminal Life Option	Acceleration of Death Benefit on the diagnosis of terminal illness
Critical Life Option 1	Acceleration of Death Benefit on the diagnosis of any one of the critical illnesses listed under the plan (with the CI benefit term equal to the main benefit term or 5 years, whichever is lower)
Critical Life Option 2	Acceleration of Death Benefit on the diagnosis of any one of the critical illnesses listed under the plan (with the CI benefit term equal to the main benefit term or 10 years, whichever is lower)
Critical Life Option 3	Acceleration of Death Benefit on the diagnosis of any one of the critical illnesses listed under the plan (with the CI benefit term equal to the main benefit term or 15 years, whichever is lower)
Critical Life Option 4	Acceleration of Death Benefit on the diagnosis of any one of the critical illnesses listed under the plan (with the CI benefit term equal to the main benefit term or 20 years, whichever is lower)
Life Disability Option	The death benefit will be accelerated on the total and permanent disability
Wellness	Health and wellness benefits will be provided as mentioned in the plan

Death Benefits

The main credit life insurance benefits available under this plan are as follows:

Level: The sum assured stays the same as it was at the time of policy purchase during the individual’s membership term.

Decreasing: The sum assured decreases as per the repayment schedule selected by the master policyholder during the individual’s membership term.

The repayment schedule depends on the underlying interest rate, applicable moratorium period, and more, selected by the master policyholder. This repayment schedule will clarify the benefits offered under the plan. The benefits paid will be as per the repayment schedule, irrespective of the outstanding loan as on the date of death.

On the death, disability, or diagnosis of a listed critical illness, the lump sum amount will be paid as per the selected plan option at the time of policy purchase.

Maturity Benefits

There are no maturity benefits offered under this plan.

Additional Benefits with the Life Option

Here are the benefits available with the Life option. You can select any 1 out of the 4 critical life options:

Additional Benefits with the Life Option

The policyholder can choose multiple benefits along with the Life Option. However, only 1 out of the 4 Critical Life Options can be selected.

Benefit Type	Description
Death Benefit	In case of the member’s death, the benefit payable shall be: The sum assured, if the level term assurance is selected. The decreasing sum assured as per the agreed repayment schedule, if the decreasing term assurance is selected.
Accelerated Terminal Illness Benefit	If the member is diagnosed with a terminal illness, the benefit payable shall be: The sum assured, if the level term assurance is selected. The decreasing sum assured as per the agreed repayment schedule, if the decreasing term assurance is selected. After payment, the risk cover will cease.
Additional Accidental Death Benefit	In case of the member’s death due to an accident, an additional death benefit shall be payable: The sum assured, if the level term assurance is selected. The decreasing sum assured as per the agreed repayment schedule, if the decreasing term assurance is selected. This is paid in addition to the death benefit mentioned above.
Accelerated Critical Illness – Option 1	If the member is diagnosed with any covered critical illness within the CI benefit term, the benefit payable shall be: The sum assured, if the level term assurance is selected. The decreasing sum assured as per the agreed repayment schedule, if the decreasing term assurance is selected. The risk cover will cease, and the benefit term equals the main benefit term or 5 years, whichever is lower.
Accelerated Critical Illness – Option 2	If the member is diagnosed with any covered critical illness within the CI benefit term, the benefit payable shall be: The sum assured, if the level term assurance is selected. The decreasing sum assured as per the agreed repayment schedule, if the decreasing term assurance is selected. The risk cover will cease, and the CI benefit term equals the main benefit term or 10 years, whichever is lower.
Accelerated Critical Illness – Option 3	If the member is diagnosed with any covered critical illness within the CI benefit term, the benefit payable shall be: The sum assured, if the level term assurance is selected. The decreasing sum assured as per the agreed repayment schedule, if the decreasing term assurance is selected. The risk cover will cease and the CI benefit term equals the main benefit term or 15 years, whichever is lower.
Accelerated Critical Illness – Option 4	If the member is diagnosed with any covered critical illness within the CI benefit term, the benefit payable shall be: The sum assured, if the level term assurance is selected. The decreasing sum assured as per the agreed repayment schedule, if the decreasing term assurance is selected. The risk cover will cease and the CI benefit term equals the main benefit term or 20 years, whichever is lower.
Accelerated Total Permanent Disability Benefit	In the event of death of the insured member or occurrence of total permanent disability due to accident, whichever is earlier, the benefit payable shall be: The sum assured, if the level term assurance is selected. The decreasing sum assured as per the agreed repayment schedule, if the decreasing term assurance is selected. The risk cover will cease.
Wellness Benefit	Health and Wellness benefits as detailed below.

Wellness Benefits

The plan includes Health & Wellbeing Management Services under the Wellness Benefit, available throughout the member’s coverage term. These services help members manage routine health needs in a convenient way and include:

Virtual Consultations through Insta Tele Consultations.
OPD in-clinic doctor consultations at network hospitals and clinics.
Doctor-prescribed diagnostics, including lab tests and radiology services.
Preventive health check-up benefits as per policy terms.
In app network discounts are available via partner providers.

All Wellness Benefits are offered through a third-party vendor and can be accessed through the HDFC Life LifeRewards mobile app. The detailed list of benefits, along with applicable terms, conditions, exclusions, and waiting periods, is provided in the Certificate of Insurance.

The utilisation of Wellness Services does not impact any other benefits under the product. However, if the policy is terminated for any reason, including surrender or death, the Health & Wellbeing Management Services will also stand terminated. After payment or acceleration of the death benefit, the coverage ceases and the policy stands terminated.

Moratorium Benefits

Members may take a home, mortgage, or education loan that is disbursed in two or more instalments. In such cases, the policy provides coverage during the moratorium period, equal to the initial sum assured. The insured member can select a moratorium period ranging from 1 to 7 years.

The total term of the cover must be the moratorium period plus the term of the reducing cover. Once the moratorium period ends, the death benefit follows a reducing cover structure as per the loan repayment schedule. This feature is available only with the decreasing cover option.

If the Critical Illness (CI) benefit term expires, the CI cover ends, but the main death benefit and any other selected options continue for the remainder of the policy term.

Surrender Benefits

The main policy benefits cannot be surrendered, and the surrender value available at the member level will be calculated as follows:

70% x single premium x (unexpired cover term in complete months / Original cover term in months) x (current sum assured / initial sum assured)

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Eligibility Conditions for the HDFC Life Group Credit Protect Plus Insurance Plan

Paramters	Minimum	Maximum
Entry Age	14 years	70 years
Cover Term	1 month	30 years
Cover Ceasing Age	-	75 years
Premium per member	₹0.16	-
Sum Assured	₹10,000	-
Group Size	50 members	-

Factors Affecting Premium Calculation

The premium for each member will be calculated as a single premium that depends on the following parameters:

Selected plan option
Sum assured chosen
Cover term
Type of cover (level or decreasing)
Age of the member
Underwriting
Mortality class

Suicide Exclusion

In case of the policyholder’s death due to suicide within the 12 months from the date of risk commencement/revival, the nominee/beneficiary will receive 80% of the total premiums paid or the surrender value available till the date of the death (whichever is higher), given that the policy is still in force.

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. ₹360/month is the starting price for a ₹99 lakhs loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

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