HDFC Term Insurance

Whether you have a dependent or a large family to take care of, opting for term insurance has become a mandatory requirement today. Undoubtedly, the best term insurance is the one that provides value for your money.

Basically, term insurance is a basic policy that provides a sum assured to the family or dependent of the insured in the event of the individual’s demise. HDFC, one of the trusted institutions, has come up with a term insurance plan which may be enough to meet your needs.

If you are ready to get insurance, then in this post, get all the details about HDFC Term Insurance.

ALSO READ – How to Buy Term Insurance Plan

Types of HDFC Term Insurance

1. HDFC Life Click 2 Protect Plus

This is an HDFC term plan that protects the future of your family at a minimum premium price. This plan protects you and your family from major risks. It also offers several offers that you can choose from as per your needs. On purchasing this plan, you also get different payment options; Thus, the death benefit can be easily utilized by your beneficiary.

Properties

4 different HDFC Life term plan options namely Life Option, Extra Life Option, Income Option and Income Plus Option.
Monthly Income option under Income and Income Plus option.
Uninterrupted growth of insurance cover.
Add rider for critical illness or accidental disability.

Disfellowship

Suicide or self-injury.
Solvent abuse or alcohol abuse.
Riot or civil commotion, revolution, rebellion, civil war, hostilities, aggression and being part of war.
Be a part of the flying activity.
Being part of any criminal intent or nature.

Eligibility Criteria	Life Choices	Additional Life Options	Income Option	Income Plus Option
Age	18 – 65 years	18 – 65 years	18 – 65 years	18 – 65 years
Policy term	5 – (85 years of age of entry)	5 – (85 years of age of entry)	10 – 40 years	10 – 40 years
Premium payment mode	Single and regular payments	Single and regular payments	Single and regular payments	Single and regular payments
Premium payment frequency	Single, Annual, Monthly, Half Yearly, Quarterly	Single, Annual, Monthly, Half Yearly, Quarterly	Single, Annual, Monthly, Half Yearly, Quarterly	Single, Annual, Monthly, Half Yearly, Quarterly
Age at Maturity	23 – 85 years	23 – 85 years	23 – 75 years	23 – 75 years
Basic Sum Assured	Unlimited from Rs. 25 lakhs	Unlimited from Rs. 25 lakhs	Unlimited from Rs. 25 lakhs	Unlimited from Rs. 25 lakhs

ALSO READ – How to Choose Best Term Insurance Plan

2. HDFC Life Click 2 Protect Health

Another HDFC term insurance plan is Life Click 2 Protect Health. This policy type has been designed in association with HDFC Apollo Munich Health Insurance. With this plan, you can also avail double life health insurance in one plan. Along with this, it also covers terminal illness, critical illness, accidental benefits, etc.

Properties

HDFC Term Insurance is available with 9 different customization options.
Lower premium rates for non-tobacco and female users.
Ability to update cover accordingly.
Reinstatement of Sum Assured on expiry.
Lifelong renewal is continuous renewal.

Disfellowship

Being part of criminal intent or nature.
Participate in flight activity.
Riot or civil commotion, revolution, rebellion, civil war, hostilities, aggression and being part of war.
If suicide is committed by the policyholder, then 80% of the premiums paid will be refunded.

Eligibility Criteria	Security (all options except Lifetime Protection Option and 3D Lifetime Protection Option)	Protection (Life Long Protection Option and 3D Life Long Protection Option)	Health
Age	18 – 65 years	25 – 65 years	91 days – 65 years
Policy term	5 – 40/50 years	Whole life	Twelve years
Premium payment mode	Single and regular payments	Single and regular payments	Single and regular payments
Premium payment frequency	Single, Annual, Half-Yearly, Quarterly, Monthly	Single, Annual, Half-Yearly, Quarterly, Monthly	Single, Annual, Half-Yearly, Quarterly, Monthly
Age at Maturity	23 – 75/85 years	Whole life	Lifelong on continuous renewal
Basic Sum Assured	Rs. 10 lakhs to unlimited	Rs. 10 Lakh – Unlimited	Rs. 3 lakh – Rs. 50 lakhs

3. HDFC Life Click 2 Protect 3D Plus

This HDFC 3D Plus plan is comprehensive term insurance that can be availed at affordable prices. The 3D in the name represents three different uncertainties of life, namely death, disease and disability. With flexible 9 options, you can easily meet your needs with this single plan.

Properties

Variety of options with 9 different HDFC Life 3D Plus plans.
Option to choose death benefit as a monthly payment or lump sum.
Availability of premium return option.
Benefit of incurable disease is also available.
Underlying Critical Illness and Accidental Total Disability under different options.
Low premium rates for those who do not smoke and maintain a proper healthy lifestyle.

Disfellowship

Any serious disease condition that is listed and causes death within 30 days of diagnosis.
Any illness or disease that appears within 90 days from the date of commencement of the policy.
Suicide or self-injury.
Use of sedatives, drugs, drugs or alcohol.

Eligibility Criteria	All options (except Lifetime Protection Option and 3D Lifetime Protection Option)	Lifetime protection option and 3D lifetime protection option
Age	18 – 65 years	25 – 65 years
Policy term	5 – 40/50 years	Whole life
Premium payment mode	Single regular, limited pay (5-39 years)	Limited pay (65 – age at entry or 75 – age at entry)
Premium payment frequency	Single, yearly, half-yearly, quarterly and monthly	Annual, half-yearly, quarterly and monthly
Age at Maturity	23 – 75/85 years	Whole life
Basic Sum Assured	Rs. 10 lakhs	Rs. 10 lakhs

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Documents required to get HDFC Term Insurance

Proof of Age
Proof of Identity
Address Proof
Proof of Current Income
Medical test results

How to claim HDFC Term Insurance?

The HDFC claim process is quite simple and straightforward. Moreover, it has also got a high claim settlement ratio, which currently stands at 97.62%. If you buy this policy, then below are some of the steps you need to follow:

Visit the HDFC Life website and fill up the form to inform them of the claim.
If not, you can also email them for critical illness or claim insurance claims[@]hdfclife[dot]com.

Below is the tentative list of documents that you will need to organize while claiming your settlement:

In Case of Natural Death

Authorized death certificate.
Filled claim form.
Original policy document.
Proof of identity and residence of the nominee.
Medical records of past diseases or at the time of death (if any).
Telbank account details.

In Case of Unnatural Death (Suicide/Murder/Accidental Death)

Authorized death certificate.
Police report and FIR.
Postmortem report.
Original policy document.
Proof of identity and residence of the nominee.
NEFT bank account details.

In Case of Natural Calamity/Disaster

Authorized death certificate.
Filled claim form.
Original policy document.
Proof of identity and residence of the nominee.
Medical records of past diseases or at the time of death (if any).
NEFT bank account details.

In Case of Critical Illness Claim

Filled claim form.
Original policy document.
Proof of identity and residence of the nominee.
Medical records of past or current illnesses, including diagnostic tests.
NEFT bank account details.