HDFC Term Assurance Plan

Secure your family's financial independence and self-respect

Features

  • 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

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Benefits

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Contact Number
Ahmedabad
6160 6161

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.

Features

Features

  • 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.
Features

Benefits

  • 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

CategoryFirst Year Commission2nd year Renewal commission
MinMaxMinMax
Health 2% 25% 0% 7.50%
Pension 2% 7.50% 0% 2%
Protection 2% 35% 0% 0%
Savings & Investment 1% 35% 0% 3%
Group Product* 2% 2% 0% 0%

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.

Important Disclaimer

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

    In order to continue availing benefits from your previous policy, renew your HDFC Term Assurance policy. You can renew the policy through MobileBanking and NetBanking.

    You just need to register once under BillPay.

    Click here to renew your HDFC Term Assurance Policy online.

Did you know?

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

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