HDFC Home Loan Insurance

HDFC home loan insurance is designed to protect borrowers and their families from the financial burden of an outstanding housing loan. Buying a home usually involves a long-term commitment, and most people rely on a home loan to make that purchase possible. However, unexpected situations can make loan repayment difficult.

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A home loan insurance plan helps address this risk by ensuring the remaining loan amount is covered if the borrower passes away during the loan tenure. This protection allows families to retain ownership of the house without worrying about unpaid loan liabilities.

Home Loan Amount

Loan Tenure

5 Years 30 Years

Interest Rate

5% 15%

Loan Tenure Completed

0 40 yrs

Get the coverage you need-quick and easy! Choosing the right Home loan insurance is now effortless. Simply enter your details, hit “Calculate,” and receive a personalized plan designed just for you.

What is HDFC Home Loan Insurance?

HDFC Home Loan Insurance is a financial protection plan that helps repay the outstanding home loan if the insured borrower passes away during the policy term. This ensures that the borrower's family is not burdened by the remaining loan repayments and can continue to own the property. In most plans, the insurance cover reduces over time in line with the outstanding loan balance.

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Why HDFC Home Loan Insurance Important?

Home loan insurance can offer several financial advantages for borrowers.

Protects Your Family from Loan Burden
If the borrower is no longer able to repay the loan, the insurance plan ensures the outstanding amount is cleared.
Secures Ownership of the Property
Without loan protection, unpaid EMIs may lead to legal or financial complications. Insurance helps prevent such situations.
Coverage for the Entire Loan Tenure
Most plans are designed to match the full duration of the housing loan, providing long-term protection.
Flexible Premium Payment Options
Borrowers may have the option to pay the premium as a single payment or as regular payments.

How Does HDFC Home Loan Insurance Work?

HDFC Home Loan Insurance works by linking the insurance cover to your outstanding home loan amount. In most plans, the sum assured reduces as you repay your loan through EMIs, keeping the coverage aligned with the remaining loan balance.

If the insured borrower passes away during the policy term, the insurer settles the eligible outstanding home loan amount with the lender, subject to the policy terms and conditions. Some HDFC home loan insurance plans may also offer optional coverage for permanent disability or critical illness.

This helps protect the borrower's family from future loan liabilities, reduces the financial burden of unpaid EMIs, and allows them to retain ownership of the property.

Term Plans

LIFE COVER

₹ 1 Crore

STARTS AT

₹ 13/day⁺

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LIFE COVER

₹ 50 Lakh

STARTS AT

₹ 8/day⁺

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LIFE COVER

₹ 75 Lakh

STARTS AT

₹ 12/day⁺

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HDFC Home Loan Insurance Premium Calculator

Before purchasing a policy, borrowers often want to estimate the cost of coverage. This is where the HDFC home loan insurance premium calculator comes in handy.

The calculator helps estimate the premium based on several factors, including:

Loan amount
Loan tenure
Age of the borrower
Interest rate
Type of premium payment

You can also consider the HDFC home loan interest rate when planning your housing loan and insurance together. The interest rate affects your EMI amount and the total repayment over the loan tenure. While the loan interest rate determines your monthly EMI payments, home loan insurance ensures that the outstanding loan amount is covered in case of unforeseen circumstances.

Borrowers can use a Home Loan EMI calculator to estimate their monthly loan repayments and understand the overall loan commitment. Along with this, the HDFC home loan insurance premium calculator can help estimate the cost of protecting the loan during the repayment period.

HDFC Home Loan Protection Plan (HLPP)

The Home Loan Protection Plan (HLPP) is one of the most well-known ways to protect a loan. The policy is generally designed to align with your home loan amount and repayment tenure.

HDFC Life's Home Loan Protection Plan (HLPP) links the insurance cover to the outstanding home loan balance. As you repay the loan through regular EMIs, the outstanding balance reduces, and the insurance cover decreases accordingly. This helps ensure that the protection remains aligned with the remaining loan liability throughout the repayment period.

Key Features of HLPP:

Coverage that matches the outstanding home loan
Protection during the entire loan period
Lowering the sum assured as the loan balance goes down
Protection for the borrower's family in case of financial trouble

If the borrower dies while the policy is in effect, the insurer pays the lender the remaining loan amount directly. This means the family can stay in the house without worrying about repaying the loan.

HDFC Home Insurance vs HDFC Home Loan Insurance

Many homeowners confuse these two types of insurance. However, they serve different purposes.

Feature	HDFC Home Insurance	HDFC Home Loan Insurance
What it protects	House structure and contents	Outstanding home loan
Offered by	HDFC ERGO	HDFC Life
Coverage type	Property protection	Loan repayment protection
Who should buy	Homeowners and tenants	Home loan borrowers

In many cases, homeowners choose both types of protection to safeguard their property and loan liability.

Does HDFC Also Offer Home Insurance for Property and Belongings?

While home loan insurance protects the loan liability, homeowners may also want to protect the house and belongings inside it. This is where HDFC ERGO home insurance comes into the picture.

A home insurance policy can provide coverage for:

The building structure
Furniture and household items
Electronic appliances
Valuable personal belongings

These policies protect against risks such as fire, natural disasters, burglary, and accidental damage.

In many cases, homeowners choose both types of protection—home loan insurance for loan security and home insurance for property protection.

Who Should Buy HDFC Home Loan Insurance?

Although home loan insurance is generally optional, it can be a suitable choice for borrowers who want to protect their family from future loan liabilities.

It may be particularly useful for:

First-time home buyers taking a long-term housing loan.
Individuals who are the sole earning member of the family.
Borrowers with large home loan amounts.
Families that may find it difficult to continue EMI payments if the primary borrower is no longer around.
Homeowners who want dedicated protection specifically for their outstanding home loan.

Borrowers who already have an adequate term insurance policy may compare both options before deciding whether a separate home loan insurance plan is necessary.

HDFC Home Loan Insurance vs. HDFC Term Insurance

Both HDFC Home Loan Insurance and HDFC Term Insurance provide financial protection, but they serve different purposes. While home loan insurance is designed to secure your outstanding housing loan, a term insurance plan offers broader financial protection for your family's future.

Feature	HDFC Home Loan Insurance	HDFC Term Insurance
Purpose	Protects the outstanding home loan	Provides financial security for your family
Coverage	Covers the remaining home loan liability	Covers a fixed life insurance sum assured
Claim Payout	Paid towards settling the outstanding home loan, subject to policy terms	Paid as a lump sum to the nominee
Use of Payout	Primarily used to repay the home loan	Can be used for loan repayment, household expenses, children's education, investments, or any other financial need
Coverage Amount	Usually reduces as the outstanding loan balance decreases	Generally remains fixed throughout the policy term
Best Suited For	Home loan borrowers looking to protect their housing loan	Individuals seeking comprehensive financial protection for their dependents

For many borrowers, a life insurance plan offers broader financial protection because the claim amount can be used for any purpose, including repaying the home loan. However, HDFC Home Loan Insurance is specifically designed to protect the outstanding loan liability. Depending on their financial goals, some borrowers choose both plans to ensure comprehensive protection for their family and home loan.

Is HDFC Home Loan Insurance Worth Buying?

Whether HDFC Home Loan Insurance is worth buying depends on your home loan amount, financial responsibilities, and existing life insurance coverage. If your family relies on your income to repay the EMIs, an HDFC Home Loan Protection Plan (HLPP) can help protect them from the burden of the outstanding loan.

However, borrowers who already have an adequate HDFC Term Insurance plan or another term insurance policy should compare coverage, premiums, and benefits before purchasing a separate home loan insurance plan. Before making a decision, you can use the HDFC Home Loan Insurance Premium Calculator or HLPP Premium Calculator to estimate the premium. If you also want to protect your property against risks such as fire, natural disasters, or burglary, you may consider HDFC ERGO Home Insurance alongside your HDFC Home Loan Insurance.

Ultimately, the right choice depends on your outstanding loan amount, existing insurance coverage, and long-term financial protection needs.

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FAQs

Q1. Is home loan insurance mandatory in HDFC?

Ans: In general, you don't have to get insurance for an HDFC home loan. However, lenders often recommend HDFC home loan insurance to protect the borrower and their family from having to repay the loan in the event of unexpected events.
Q2. Do you have to have property insurance to get an HDFC home loan?

Ans: Many lenders strongly suggest that you get property insurance for an HDFC home loan, but it is not always required. During the loan period, a home insurance policy protects the structure of the house from risks like fire, floods, and natural disasters.
Q3. How do you cancel HDFC home loan insurance?

Ans: Most of the time, you need to send a request to the insurer or the lending institution along with your policy details and identification documents in order to cancel HDFC home loan insurance. The insurance company may process the cancellation and give a refund if the policy allows it.
Q4:What are the benefits of HDFC loan protection insurance?

Ans: HDFC loan protection insurance helps secure your loan by covering the outstanding amount if the borrower passes away during the loan tenure. This prevents the financial burden from falling on the family and ensures the loan does not become a liability. Some plans may also offer coverage for events like critical illness or disability, depending on the policy terms.

Different types of Plans

Term Insurance

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TROP

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Term Insurance For Senior Citizen

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Term Insurance For Spouse

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Life Insurance Corporation of India

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1 Crore Term Insurance

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Author's Bio

Varun Agarwal IRDAI Certified Term Insurance Expert with 10+ Years of Experience

Varun has spent years in the insurance space, but what drives him isn't policies or premiums — it's the conversations he's had with real people. A young father in Pune wondering if his salary is enough. A newly married couple in Jaipur putting off "the insurance talk" for later. A mother in Chennai who never knew her husband was underinsured until it was too late.
These stories stay with him. As Head of Term Insurance at Policybazaar, Varun knows the numbers well — 52.4% of Indians are aware of term insurance, yet only 9.6% own it. And 87% of families don't realise they're leaving their loved ones with far less protection than they actually need. But behind every statistic, he sees a family that just needed someone to sit with them, explain it simply, and help them take that one step. That's exactly what Policybazaar's term insurance is built to do. In his words, "Most people aren't avoiding protection — they're just waiting for someone to make it easy. That's what we're here for."

Write to Varun

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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

+On the basis of your profile

+Rs. 410/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. 410/month (Rs.14/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 rounded off to nearest 10

+Rs. 245 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.

+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. 15/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. 504/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. 494/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. 636/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. 918/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. 1,286/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.

+Rs. 453/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.582/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. 786/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. 1,592/month 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.

+Rs. 525/month is the starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 68 years of age.

+Rs. 668/month is starting price for a 2 crore term life insurance for an 25 year-old male, non-smoker, with no pre-existing diseases, cover upto 45 years of age.

+Rs. 1,200/month is starting price for a 2 crore term life insurance for an 35 year-old male, non-smoker, with no pre-existing diseases, cover upto 55 years of age.

+Rs. 410/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.

+Rs. 577/month is starting price for a 1 crore term life insurance for an 18 year-old Male, self employed, 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. ₹361/month is the starting price for a ₹1 crore 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

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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