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HDFC Life Insurance: Protection to Tackle Unforeseen Events

While driving a car, a driver and passengers are required to wear a seatbelt which gives you safety to a substantial extent. Similarly, when it comes to life, there are certain aspects that can make your life better by securing it. And one of the most talked upon aspects is life insurance.

Life insurance is something that can offer added protection not just to you but also to your family members. If you are a sole earner in your family, and if something happens to you, then have you thought about what will happen to your family? You certainly don't want your family to deal with financial burdens during a crisis. If you happen to buy the right life insurance policy, you can save them from facing a tough time. Sometimes, your scariest nightmares turn into a reality if you don't take HDFC life insurance.  

Additionally, you don't want your family to struggle with financial liabilities even in your absence. Any unsettled debt-a home loan, auto loan, personal loan, or a loan on credit cards-will be managed if you happen to buy the right life insurance policy. You can buy the best HDFC insurance policy online from Policychayan and dodge the hassle of stepping out.

Life Insurance HDFC is devoted to delivering innovative products and services that support policyholders to sustain a "Life of Pride'. According to the most recent update by HDFC, the company incorporates 38 individual and 13 group products in its portfolio, along with 7 optional rider benefits. With the availability of so many insurance products, HDFC's life policy helps in satisfying distinctive needs of their customers.

Some fundamental attributes of HDFC Life Insurance Company

These days, one can find many companies in India that offer insurance, but the key is to find the right one. It is vital to choose a reliable insurer and right plan to avert insurance-related problems in the future. Before settling with any company, it is imperative to check some important aspects of the insurance company such as claim settlement ratio, solvency ratio, annual premium, and operating network. To understand it thoroughly, read further.

Solvency ratio: As per the annual report 2020-21 of IRDAI, HDFC Life insurance maintains a solvency ratio of 1.99. The solvency ratio assists the potential policyholder in analyzing the ability of a company to fulfill its financial obligations. As of now, it is necessary to sustain a solvency ratio of 1.5 for every insurer.

Claim support: It is a metric that enables you assess its claim settling ability. As per the annual report 2020-21 of IRDAI, HDFC Life insurance sustains the claim support of 98.01%.

Annual Premium: The annual premium of HDFC Life insurance is Rs. 38,583.49 crores.

PAN India Presence: HDFC Life insurance assures that the policyholder can directly visit their nearest branch for policy-related and claim-related queries.

Some Prominent Advantages of HDFC Life Insurance

Customer experience: A good business is all about happy and satisfied customers. HDFC Life aims to fetch innovative solutions to help their customers. This insurer ensures to go through every detail of the product and service from their customer's viewpoint. After all, it's all about meeting customers' needs.

Affordable plans: HDFC Life is known for offering plans at reasonable prices that entail affordable premiums to help individuals.

Flexible plans: HDFC Life Insurance Online plans render an array of coverage options so that one can select a plan that fulfills his/her unique requirements.

Healthy lifestyle benefit: HDFC Life Insurance plans identify and reward individuals who follow a healthier lifestyle with their low premium options.

Tax Benefits: Tax benefits can be enjoyed for premium payments of Edelweiss Tokio Term Plans under section 80C and 10D of the income tax act 1961.

HDFC Life Insurance Plans to Meet your Peculiar Needs

Every individual is different, and that's why their needs differ. HDFC Life Insurance is here to offer an assortment of options that enable customers to choose a plan that goes well with their requirements. This company has something for everyone.

HDFC Life Term Plans: If you are scared of the thought that who will take care of your family needs when you are not around, HDFC Life Term Plan will evolve into a fantastic choice. It offers protection to your near and dear ones in your absence.

HDFC Savings Plan: HDFC Life Term Plans work as financial instruments that will support policyholders fulfill their life goals without worrying about any sort of risk.

HDFC Life ULIP Plans: HDFC Life takes gigantic pride in offering a broad assortment of ULIP Plans that facilitate flexibility to invest in equity and debt funds. The investor will decide where to invest as per his/her risk-bearing potential. ULIPs assist with capital appreciation over a lengthy duration without compromising on coverage. It creates a win-win situation if you choose to invest wisely.

HDFC Retirement Plans: Inflation can drain all the retirement funds that you have saved up. HDFC Retirement Plans help you catch a fantastic deal with post-retirement years.

HDFC Life Child Plans: Undoubtedly, the birth of a child is a surreal moment for parents. Don’t forget, it is quintessential to plan strategically for his/her future expenses, and with HDFC Life Child Plans you can plan wisely.

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Frequently Asked Questions

Yes, it is completely safe.

Yes, you can cancel it. For this, you need to fill up a cancellation form. The form is available at HDFC's official website. After filing it, submit it to your nearest branch.

Yes, it is possible to get a policy loan based on a percentage of the Surrender Value if your policy has attained Surrender Value. The policy loan is accessible for both regular and premium plans, as well as Unit Linked and conventional insurance.

If you are qualified to get a maturity benefit, you can claim for it after the arrival of the policy's maturity date.
A policyholder needs to submit following documents for the payout to be processed.
PAN Card copy
Policyholder/beneficiary name
Account number, and IFSC code
Bank statement of last three months

Yes, you can. You will be requested to submit a completed Partial Withdraw Request form along with the identification and address proof to the nearest HDFC life branch.

Premium Allocation Charges are a percentage of the first year of premium charged by a life insurance company before issuing the policy. The charge contains the initial and commission expenses of the arbitrator.