Saving & Investment Plan
- HDFC SL ProGrowth Super II
- HDFC Life Progrowth Plus
- HDFC Life ClassicAssure Plus
- HDFC Life Super Savings Plan
- HDFC SL Progrowth Flexi
- HDFC Life Smart Woman Plan
- HDFC Life Invest Wise Plan
- HDFC SL Crest
- HDFC Life Super Income Plan
- HDFC Life Sanchay
- HDFC Life Pension Super Plus
- HDFC Life Personal Pension Plus
- HDFC Life Guaranteed Pension Plan
- HDFC Life New Immediate Annuity Plan
- HDFC Life Single Premium Pension Super Plan
HDFC Term Assurance Plan
Secure your family's financial independence and self-respect
- A pure risk cover plan , which gives you protection against the uncertainties of life
- Premium amount remains the same over the term of the policy in case of regular premium.
- Additional Optional Beneft of Critical Illness , Accidental Death, Accelerated Sum Assured.
- Get additional discount on basic premium for policies with Sum Assured of Rs 25 lakhs and above*
* For more details, please refer the product brochure
- An ideal way to secure the financial future of your loved ones.
- Choice of taking the plan on Single Life or Joint Life basis
- Option of paying single premiumIt is a Whole life insurance requiring just one initial lump sum payment. or regular premium.
- Tax benefits are offered under section 80C, 80 D and 10(10D) of the Income Tax Act, 1961
Features and Benefits of HDFC Term Assurance Plan
You always try to give all the happiness and security to your family not only in your presence but also in your absence. There can be no better way than the HDFC Term Assurance Plan, to secure the financial future of your family! With HDFC Life Term Assurance Plan, you can ensure that your family gets a life of dignity even in your absence. This plan gives you a high cover at a very nominal cost plus an option of adding optional benefits to cover other eventualities.
- An ideal way to secure the financial future of your loved ones.
- High cover at a very nominal cost plus an option of adding optional benefits to cover other eventualities.
- Choice of premium payment options - regular premium or a single one-time premium.
- Choice of taking the plan on a single life basis or a joint life (first claim) basis.
- In case of your unfortunate demise or Critical Illness* during the policy term, your nominee will receive the Sum Assured + any optional benefits due.
- Since this non-participating (without profits) plan is a pure insurance plan, no benefits are payable on survival of the insured life to the end of the term of the policy.
* Only if ASA optional benefit is chosen
What are the tax benefits of the HDFC Term Assurance Plan?
You will be eligible for tax benefits under Section 80C, 80 D and Section 10 (10D) of the Income Tax Act, 1961.
- Under Section 80C, you can save tax each year as premiums up to Rs. 1,00,000 are allowed as a deduction from your taxable income.
- Under Section 10 (10D), the benefits you receive from this policy are completely tax-free, subject to the conditions specified therein
- Under section 80 D , additional premium paid for Critical Illness benefit or Accelerated Sum Assured benefit qualify for deduction up to Rs.15,000 (Rs. 20,000 for senior citizens) from your taxable income.
The above mentioned tax benefits are subject to changes in the tax laws.
Commission for Life Insurance
As per RBI circular: RBI/2009-10/225 dated November 16, 2009, following are the details of the comparative commission earned by HDFC Bank from Insurance (Life), whose products are being distributed:
Commission, Brokerage and trail from Life Insurance
|Category||First Year Commission||2nd year Renewal commission|
|Savings & Investment||1%||35%||0%||3%|
Note: The commission varies depending upon the Product in each category, tenure, amount of premium and premium paying term
*For Group Products commission payable is 2% of the premium with a ceiling on the maximum payout as defined by Insurance Regulatory And Development Authority (IRDA) from time to time.
HDFC Standard Life Insurance Company Limited, Ramon House, 169 Backbay Reclamation, Mumbai - 400 020 : - The policy holder may avail of benefits are as provided under the tax laws. The premium would be subject to Service tax & education cess as per applicable tax rates. Tax laws are subject to change basis the amendments made from time to time.
HDFC Standard Life Insurance Company Limited. In Partnership with Standard Life
Insurance is the subject matter of the solicitation. For more details on risk factors, terms and conditions and exclusions please read the product brochure before conclusion of sale. HDFC Term Assurance Plan Form No. SN. 06. UIN: 101N006V02. Riders: Accidental Death Benefit (UIN: 101B001V02), Critical Illness Benefit (UIN: 101B004V02) & Accelerated Sum Assured Benefit (UIN: 101B010V01) is a traditional insurance product offered by HDFC Life. This is a non participating plan. The name of the company, name of the brand and the name of the product does not indicate the quality of the plan. HDFC Standard Life Insurance Co.Ltd. Reg.No.101
HDFC Bank Limited ( " HDFC Bank") is a corporate insurance agent of HDFC Standard Life Insurance Company Limited( " HDFC Life") under Corporate Agent's license no.933982 issued by Insurance Regulatory & Development Authority and does not underwrite the risk or acts as an insurer. The insurance is underwritten by HDFC Life. This policy is issued to you by HDFC Life and is subject to the terms and conditions governing such policy. The contract of insurance is between HDFC Life and the insured only , and not between HDFC Bank and the insured .HDFC Bank is acting merely as the corporate agent of HDFC Life and there is no direct or indirect linkage between the provisions of the banking services offered by HDFC Bank. Your participation in this product is purely on a voluntary basis. HDFC Bank is not responsible or liable for performance of any obligations under the contract of insurance.
Already have HDFC Term Assurance Plan
Get started with your HDFC Term Assurance Plan
- A Welcome Letter: A letter confirming the approval of your HDFC Term Assurance Plan from HDFC Life
- A Welcome SMS: An SMS welcoming you as an HDFC Term Assurance customer.
- A Policy Document: A letter from HDFC Bank and HDFC Life covering the keys features of the policy.
Once you have purchased a HDFC Term Assurance Plan, you will receive a Login ID and password so you can view your policy details.
Renew your HDFC Term Assurance Plan
Did you know?
- You should consider all your expenses and future earnings when deciding your sum assured
- You should consider the rising rate of inflation when deciding your sum assured
- You should consider all your liabilities when deciding your sum assured
- You can give a Standing Instruction / ECSStands for Electronic Clearing Service. It is a mode by which funds are automatically debited to your account every month to pay or a certain bill or fee. It helps so you don’t have to remember every month to pay your regular bills. It is only done after a standing instruction is given by the account holder. to renew your premium payment
You can also benefit from:
- A HDFC Children’s Plan that lets you secure your child's future by giving your child a guaranteed lump sum on maturity or in case of your unfortunate demise.
- A HDFC Personal Pension Plan that lets you live life on your own terms even after you retire.
- A Critical Illness Insurance Policy that gives you a lump sum amount required to treat critical illnesses and pay for associated treatment.
What can you do online?
- View your HDFC Term Assurance policy details
- Renew your HDFC Term Assurance policy
As an NRI, can I apply for the HDFC Term Assurance Plan?
Kindly share with us a few details about yourself and our representative shall get in touch with you shortly.
What is the benefit of taking Protection Plans?
Protection Plans aim to provide your family with financial security in case of your unfortunate demise or in case you are struck with a critical illness. Protection Plans, such as HDFC Loan Cover Term Assurance Plan and HDFC Term Assurance Plan, secure your family from loss of income or your loan liabilities, in the event of your unfortunate demise.
Does the HDFC Term Assurance Plan offer any riders?
The HDFC Term Assurance Plan offers additional optional benefits known as riders. These additional benefits can be opted for by paying nominal charges. The optional benefits available with this plan are Critical Illness Benefit, Accidental Death Benefit and Accelerated Sum Assured Benefit. However, you cannot opt for the Critical Illness benefit and Accelerated Sum Assured Benefit at the same time.
What is Critical Illness Benefit?
Critical Illness Benefit provides you with the Sum Assured in case of diagnosis of any one of the six Critical Illnesses (as mentioned in the policy document). The benefit is paid only if you survive for 30 days after the claim.
Do you have a Protection Plan with a single premium payment option?
All the Protection Plans offered by HDFC Standard Life have a single premiumIt is a Whole life insurance requiring just one initial lump sum payment. payment option.