Our Verdict
HDFC Life offers a diverse range of term insurance plans with flexible benefits. Options include whole life coverage (up to 100 years), return of premium, and accidental death benefits. Key features include waiver of premium on terminal illness and disability, accelerated payout for terminal illness, and critical illness riders. Discounts are available for female policyholders and select categories. Policyholders can also extend coverage at maturity. While these plans provide comprehensive protection, they may be costlier than some alternatives. Evaluating personal financial goals and affordability is crucial before selecting an HDFC Life term plan.
Pros
Diverse Product Portfolio
Offers various plans to suit different financial needs.
Strong Claim Settlement Ratio
High percentage of claims successfully processed and paid.
Flexible Premium Payment Options
Multiple payment modes and frequencies for customer convenience.
Pros
Cons
Limited Customization in Some Plans
Few policies may lack flexibility in coverage options.
Limited coverage for PEDs
Some critical illness plans may exclude pre-existing conditions or impose lengthy waiting periods.
Surrender Charges on Early Termination
High costs if policies are discontinued before maturity.
Cons
Company Stats
Industry Avg.
HDFC Life Insurance Company
Premium Underwritten
Industry Avg.
HDFC Life Insurance Company
Solvency Ratio
Rating 6.6/10
About the Company
HDFC Life Insurance is one of India’s most trusted private life insurance companies, established in 2000 as a partnership between HDFC Ltd. and Abrdn (formerly Standard Life Aberdeen). Headquartered in Mumbai, it offers a wide variety of insurance products, including term plans, retirement solutions, child education plans, savings and investment plans, health insurance, and ULIPs (Unit Linked Insurance Plans). HDFC Life’s plans provide both financial protection and wealth-building opportunities, helping individuals and families secure their future. Known for its high claim settlement ratio and digital-first services, the company focuses on simplicity, flexibility, and affordability.
KYC Documents Required
Pan Card No.
Aadhar Card
Recent Photograph
Cancelled Cheque with Name Printed
Bank Statements
Salary Slip of Latest 3 Months
Covid Vaccination
Claim Settlement
Claim Procedure
Renewal
Online Renewal
Offline Renewal
Key points to remember during Renewals
Customer Support
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Toll Free - 1800 266 9777,
E-mail - buyonline@hdfclife.in