HDFC Life Insurance Plans: The Future Key to Life Security for Loved Ones

Being a democratic county with second largest population, India is supposed to have a large insurance industry. Although, it has been seen that approximately 70% of the population does not has any life cover still the insurance industry has rose every year. The last decade saw various reforms and policies introduced by the Indian government in the financial sector which have been beneficial. Opening insurance sector for foreign players was one of the greatest steps for the growth of the financial sector. This lead to numerous big players coming in the field with a single aim of providing various financial security services to the public.

Introduction of HDFC life insurance plans

HDFC life insurance plans have been introduced by HDFC standard life insurance company which is a joint venture between housing development finance corporation Ltd and standard life plc. The firm has approximately 500 branches spread all over the country. Numerous HDFC life insurance plans have been offered by the firm which include medical benefits, life insurance, education and pension benefits.

HDFC life click2protect is one of a kind online policy which takes care of all financial needs of the family at times of uncertainties. The main features of the policy include providing a lump sum premium payment. Further, it provides high life cover and flexibility of choosing policy terms which can be either 10 years, 15, 20, 25 or 30 years. HDFC life insurance plans hence are very useful at the time of uncertainties.

Benefits of the Plans

Added advantage of the policy is the fact that one does not has to be physical present at any of the branch to avail the benefit of the schemes and the policy also provides discounted premium for non-tobacco users. Tax benefits are also available under section 80c and 10d of the income tax act 1961. The minimum-maximum age for entering the policy has been kept between 18 to 55 years while minimum-maximum maturity age is between 28-65 years. The maximum sum which can be assured has been kept at 10, 00, 00,000 while the minimum is 1, 00,000.

Having a look at various other plans

HDFC retirement planning has been divided into various categories which serve the purpose of the elderly in the community. With a competitive degree of economic standards it has become necessary for every individual to have an independent source of income so that one does not have to compromise on life standards. HDFC life personal pension plan is specially designed for those individuals to wish to plan ahead for their future. It offers flexibility to choose term between 10 years to 40. Further, assured benefits of 101% are paid on death or vexation to the nominee.

Insurer has the option to choose from number of given option on maturity of the annuity policy to get regular income throughout life. HDFC life group pension plans are beneficial offers for firms to manage and build annotation employee fund. Apart from these the firm also provides numerous education insurance which are beneficial for new parents to plan future of their new born in ahead which would be building funds for education, higher studies and marriage purpose. Smart women plans are a step ahead for well educated and aware women of today who wish to protect their rights and financial status.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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