"Spending a whole day looking for insurance is fun," said nobody, EVER!
Loading your search...
Close

Tell us about yourself & we'll find the best Term/Cancer Life Insurance offers for you.

  • HDFC Life Group Protection Plans

    An employee-employer relationship goes beyond work, with most employees looking for certain additional benefits to be truly invested in a company/organisation. Employers have taken note of this, with group protection plans not only providing peace of mind to employees, but also helping organisations create a better work atmosphere. These offer benefits to both the employees and the employer, with it possible for different types of organisations to choose plans which suit their needs.

    HDFC Life is one of the leading insurers in the country and offers a range of plans designed to protect the interests of a group of people.

    Benefits of HDFC Life Group Protection Plans

    Some of the key benefits of HDFC Life Group Protection Plans are highlighted below:

    • These plans help build an employee superannuation fund, which can be beneficial for an employee’s retirement.
    • An employer can choose to increase/decrease the members under the plan, ensuring that it caters to the present needs of an organisation.
    • These plans are cheaper than purchasing individual policies for all members, thereby helping an employer use the saved money for other purposes.
    • One can avail tax benefits under these plans, as per existing rules under the Income Tax Act.
    • These plans can be renewed annually.
    • There are multiple investment options provided under these plans, ensuring that an organisation can meet its own growth needs.

    Types of Group Protection Plans offered by HDFC Life

    HDFC Life currently offers eight group insurance plans, as highlighted below:

    HDFC Life Group Unit Linked Pension Plan:

    As the name implies, this is a unit linked scheme which is designed to offer financial solutions to meet certain contingencies. An employer/master policyholder can choose from four fund options, based on the growth estimate and risk appetite. This scheme provides a death benefit to the nominee of an employee if the employee passes away while the plan is in force. The plan also provides a benefit if an employee resigns/retires, based on the rules enforced by the employer.

    Plan Name Entry Age Maturity/Vesting Age Group Size Premium
    HDFC Life Group Unit Linked Pension Plan Minimum: 18 years Maximum: 74 years Maximum: 75 years Minimum: 10 members Minimum: Rs.5 lakh

    HDFC Life Group Variable Employee Benefit Plan:

    This scheme offers employee benefit solutions to employers, designed to help them with their fiduciary duties. Under this scheme, an employer can be rest assured that issues pertaining to gratuity, superannuation, leave encashment, etc. are taken care of. Employers are also assured of a minimum interest on their investment. The policy pays a death benefit to the nominee of an employee if he/she passes away while the plan is in force. Similarly, an employee is also eligible for a benefit if he/she resigns/retires from the organisation.

    Plan Name Entry Age Maturity/Vesting Age Group Size Premium
    HDFC Life Group Variable Employee Benefit Plan Minimum: 16 years Maximum: 75 years NA Minimum: 10 members Minimum: Rs.5 lakh per policy

    HDFC Life New Group Unit Linked Plan:

    This plan offers life cover to members, with it linked to a fund. An employer/master policyholder can choose from six fund options, based on the risk appetite and benefits one is looking for. The plan offers an option of debt and equity funds. This plan provides a death benefit to members, in addition to a benefit if a member exits the scheme.

    Plan Name Entry Age Maturity/Vesting Age Group Size Premium
    HDFC Life New Group Unit Linked Plan Based on the scheme rules NA Minimum: 10 members Minimum: Rs.5 lakh per policy Maximum: No upper limit

    HDFC Life Group Term Insurance:

    This is a term plan designed to provide life cover to members of an organisation. A one-year policy which can be annually renewed, it provides a death benefit if a member passes away while the policy is active. There are no maturity benefits provided under this scheme. An employer can choose to enhance this policy by choosing additional riders.

    Plan Name Entry Age Maturity/Vesting Age Group Size Premium
    HDFC Life Group Term Insurance Minimum:
    • 16 years (without rider)
    • 18 years (with rider)
    Maximum:
    • 79 years (without rider)
    • 64 years (with rider)
    Maximum: 80 years Minimum:
    • 10 members (employer-employee groups)
    • 50 members (all other groups)
    Based on sum assured chosen

    HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan:

    This is a non-participating group scheme which provides life cover to members. It is a pure term product which is available to individuals who have savings accounts with a bank. Under the scheme, a sum of Rs.2 lakh is paid to the nominee if a member passes away while the plan is in force. There is no provision for a maturity benefit under this policy.

    Plan Name Entry Age Maturity Age Group Size Premium
    HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan Minimum: 18 years Maximum:
    • 50 years for new members
    • 54 years in case of existing members
    Minimum: 19 years Maximum: 55 years NA Rs.330

    HDFC Life Group Credit Protect Plus Insurance Plan:

    This is a non-participating group scheme which is not linked to any fund. It is designed to protect the interests of financial institutions which offer loans to members/customers. Under this plan, a sum assured is paid to the nominee of a member, thereby limiting the financial burden of repaying an existing loan. There are six options provided under this plan. There are no maturity or surrender benefits under this scheme.

    Plan Name Entry Age Maturity Age Group Size Premium
    HDFC Life Group Credit Protect Plus Insurance Plan Minimum: 14 years Maximum: 70 years Maximum: 75 years Minimum: 50 members Minimum: Rs.25 per member

    HDFC Life Group Jeevan Suraksha:

    This is a microinsurance scheme which caters to the needs of micro finance institutes (MFIs), cooperative societies, etc. A non-participating scheme which is not linked to any fund, it provides financial protection at affordable prices. The organisation/master policyholder can choose either a fixed sum assured or varying sum assured, based on current needs. The policy pays a death benefit to the nominee if a member passes away while the plan is in force. There is no maturity benefit under this scheme.

    Plan Name Entry Age Maturity Age Group Size Premium
    HDFC Life Group Jeevan Suraksha Minimum:
    • 18 years for employer-employee groups
    • 14 years for other groups
    Maximum: 69 years
    Minimum: One year policy
    • 19 years for employer-employee groups
    • 15 years for other groups
    Single premium policy
    • 20 years for employer-employee groups
    • 16 years for other groups
    Regular premium policies
    • 19 years for other groups
    Maximum: 70 years
    Minimum: 5 members Maximum: No upper limit Based on the sum assured

    HDFC Life Group Credit Protect Insurance Plan:

    This scheme is ideal for financial institutions which offer credit to members. It is designed to protect the interests of both, the lender and the borrower. This scheme is not linked to any fund, offering a death benefit to the nominee of a member if he/she passes away while the plan is in force.

    Plan Name Entry Age Maturity Age Group Size Premium
    HDFC Life Group Credit Protect Insurance Plan Minimum: 18 years Maximum: 57 years Maximum: 59 years Minimum: 50 members Minimum: Rs.50

    Why do you need HDFC Life Group Protection Plans?

    In this era of competitive trends, it is important for an employer to make his/her employees feel special. One way to do this is by offering insurance protection to members, ensuring that they need not worry about the financial health of their loved ones in the event of their demise. They become even more important if a member has borrowed money, with the debt of repayment falling on his/her family members.

    HDFC Life offers a range of products designed to meet the requirements of different institutions. The company is among the largest private insurers in the country, having a claim settlement ratio of 95.02% as of 2015-2016. It also had a grievances solved ratio of 99.38%, highlighting its attention to customer issues. The option to enhance the cover through riders make group plans offered by HDFC Life even more attractive.

    HDFC Life Group Protection Plans Reviews

    • HDFC Life Life Insurance
      "BEST"
      0.5 5.0/5 "Blown Away!"
      I had been using life insurance of HDFC LIFE because the customer service is satisfactory and comparatively good. I had been using it since last 1 year. The name of the policy that i am holding a PENSION PLAN where it covers for the self and the premium i pay for yearly once.
      Was this review helpful? 0
      , nagpur
      Reviewed on Sep 19, 2018
    • HDFC Life Life Insurance
      "Good Insurance Policy"
      0.5 4.0/5 "Great!"
      I have taken my life insurance with HDFC LIFE. The policy name is called young star. I have purchased this policy in 2014. I used to pay the premium amount of Rs. 1 lakhs. I have no idea about the benefits right now. I used to make the payment through online
      Was this review helpful? 0
      , sultanpur
      Reviewed on Sep 12, 2018
    • HDFC Life Life Insurance
      "Good term insurance policy"
      0.5 4.0/5 "Great!"
      Total tenure period of the term insurance is 20 years. I used to pay the premium amount of Rs. 5000 quarterly. I have taken my term insurance policy as life insurance policy. I have chosen the HDFC LIFE for my term insurance policy. Before i have paid huge amount for my premium amount.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Sep 09, 2018
    • HDFC Life Life Insurance
      "GOOD POLICY"
      0.5 4.0/5 "Great!"
      I have been holding the life insurance from HDFC LIFE since 2014 where they have provided the maturity period of 15 years but i am not aware of the name of the policy. The premium i pay annually through ecs and the sum assured amount i get 2 lakhs also it covers the family.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 04, 2018
    • HDFC Life Life Insurance
      "GOOD POLICY"
      0.5 4.0/5 "Great!"
      I have purchased the TERM POLICY with HDFC LIFE on 2014 and they provided the coverage till my 75 years and also the premium i pay annually once. The policy covers the life also added on that the policy of life insurance and it is very much good to use.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 04, 2018
    • HDFC Life Life Insurance
      "BETTER POLICY"
      0.5 4.0/5 "Great!"
      The reason behind taking the life insurance from HDFC LIFE because it is a new plan from HDFC which has launched before 1 months. The premium i pay 30k for yearly once and the tenuity period they provided for 10 years and after 5 years they give 5 lakhs added on that they provide with the life coverage and also the accidental benefits.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 04, 2018
    • HDFC Life Life Insurance
      "Good Money back policy"
      0.5 5.0/5 "Blown Away!"
      I have taken the Life insurance with HDFC LIFE. In 2012, I have bought my life insurance policy. This is 20 years tenure period policy. I'm not much aware of the policy coverage and benefits provided by this policy. This is the money-back policy.
      Was this review helpful? 0
      , kochi
      Reviewed on Sep 03, 2018
    • HDFC Life Life Insurance
      "GOOD POLICY"
      0.5 4.0/5 "Great!"
      I have compared with other policies so i found HDFC LIFE is very good policy. I am unable to pay the premium through debit card where as it is easy to pay. The premium i pay nearly 1k and above on monthly basis. I am not sure about the tenuity period of this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 03, 2018
    • HDFC Life Life Insurance
      "EXCELLENT"
      0.5 4.0/5 "Great!"
      The reason behind taking the policy from HDFC LIFE is they are providing with good service. The premium i pay 1800k on monthly basis also they provide the maturity period of 20 years. It covers only for the self also the accidental coverage.
      Was this review helpful? 0
      , chidambaram
      Reviewed on Sep 03, 2018
    • HDFC Life Life Insurance
      "Good policy"
      0.5 3.0/5 "Satisfactory"
      I had an issue with HDFC Life. Initially i was paying a premium amount monthly now i want to change to yearly once. I have sent many emails to them but they have not given any reply for that. I spoke with the customer care but they are saying that it will get convert after an year. I have got a proper response from them. There is no much benefit for me from this policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Sep 02, 2018
    • HDFC Life Life Insurance
      "Good for individual"
      0.5 4.0/5 "Great!"
      I've been using the HDFC Life Insurance policy from January. I'm not satisfied with the services by HDFC because they are providing good insurance anyway its not covered for all the members. I pay a premium of 591 per month, it also covers accidental benefits, critical illness and I make payment through online. So in terms of features and their service it has been a good experience with them.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 02, 2018
    • HDFC Life Life Insurance
      "Very Good policy"
      0.5 3.0/5 "Satisfactory"
      I have been using Life insurance from Hdfc life for 6 months. It has good benefits with long term of 30 years. They are providing critical medical claim . I make payment on line through on line net banking. Since I'm a existing customer care of HDFC i have chosen the HDFC LIFE for my life insurance Overall am satisfied with my life insurance policy
      Was this review helpful? 0
      , pune
      Reviewed on Sep 02, 2018
    • HDFC Life Life Insurance
      "Fine policy"
      0.5 4.0/5 "Great!"
      March Month, i have purchased my term insurance. I'm not much aware of the other company company thats the reason i have selected HDFC for my insurance. The benefits are not that much good when i compared after the taken the policy. The benefits are quite satisfied. Total tenure of the policy is 40 years. I called customer care service to know about the policy details. I have received the hard copy of the documents.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 02, 2018
    • HDFC Life Life Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have purchased the life insurance policy with the HDFC LIFE before 2.5 years where i pay premium on yearly basis. The sum assured amount i get 50lakhs but i am not sure about the tenuity period of this life insurance policy and it covers for the self.
      Was this review helpful? 1
      , hosur
      Reviewed on Sep 01, 2018
    • HDFC Life Life Insurance
      "EXCELLENT"
      0.5 4.0/5 "Great!"
      There is no particular reason behind taking the life insurance policy with HDFC LIFE but i want an insurance so i have taken it. It covers the critical illness also the accidental benefits where it covers the self alone. I pay the premium yearly basis through online.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 01, 2018
    • HDFC Life Life Insurance
      "GOOD"
      0.5 3.5/5 "Pretty good"
      I am holding the TREM PLAN policy with the HDFC LIFE since last 7 years where they have provided me with the tenuity period of 20 years also it covers for the self. the premium in this life insurance policy is nominal and i am paying it through online.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 01, 2018
    • HDFC Life Life Insurance
      "Useful policy"
      0.5 4.0/5 "Great!"
      I have purchased the policy 6 months before. I have paid a premium amount of Rs. 568 every month, I have chosen the monthly payment mode. I have got a sum assured amount of Rs. 50 lakhs. I'm not sure about the tenure period. I am satisfied with the term insurance policy
      Was this review helpful? 0
      , vellore
      Reviewed on Aug 31, 2018
    • HDFC Life Life Insurance
      "Average policy"
      0.5 2.0/5 "Expected more"
      I have to pay Rs. 15300 for this policy and the tenure period of the policy is 7 years. I used to pay the premium through net banking. Its a money back policy. I used to a receive a benefits after the tenure period. I have not received a policy documents policy. I have taken the policy 1 year before.
      Was this review helpful? 0
      , cuddalore
      Reviewed on Aug 31, 2018
    • HDFC Life Life Insurance
      "Very nice policy"
      0.5 4.0/5 "Great!"
      I have not received the policy documents still now even though i have purchased the 7 months before. I have received not soft copy too. I have done the medical check up also. I don't remember about the tenure period. I have paid a premium amount of Rs. 550. I will get a sum assured amount of Rs. 50 lakhs.
      Was this review helpful? 0
      , ujjain
      Reviewed on Aug 31, 2018
    • HDFC Life Life Insurance
      "Good policy for securing the life"
      0.5 5.0/5 "Blown Away!"
      Last January, i gave purchased this policy. I'm making the premium of Rs. 730. Total tenure period of period of the policy 40 years. I have chosen the sum assured amount of Rs. 60 lakhs. I'm not satisfied with the sum assured amount. The medical test also completed. I have uploaded my documents through wats app.
      Was this review helpful? 0
      , raipur
      Reviewed on Aug 31, 2018
    Common Loader Icon