Term insurance is a type of policy offered by an insurance company that provides coverage for a specific period of time. For instance, if a policyholder has a term insurance policy of 30 years, he/she will get coverage for those 30 years. Once the policy expires, any coverage the policy offers will be void, meaning the coverage stops altogether.
HDFC Life offers a variety of insurance plans to cater to the varied needs of customers. There are two individual term plans on offer. In addition, HDFC Life also offers one simplified term plan for rural folk. These plans are cost-effective and are also easily available online. Some of the benefits of the term plans available from HDFC Life have been listed below:
This term plan offers financial protection against 3 D’s in life: Disease, death and disablement. There are 9 plan options offered by HDFC Life for customers to get the best out of the term plan. Policyholders can get comprehensive protection at affordable premiums. The benefits of this plan are:
|Plan Name||Plan Options||Entry Age||Maturity Age||Premium|
|HDFC Life Click2Protect 3D Plus||Life Long Protection Option||25 years old to 65 years||Whole life||Depends on the sum assured|
|3D Life Long Protection Option||25 years old to 65 years||Whole life||Depends on the sum assured|
|All Other Options||18 years old to 65 years old||23 years old to 75 years old||Depends on the sum assured|
This term plan provides benefits of lump sum payouts and monthly income options to take care of your loved ones once you are no more. The plan is flexible with options to increase the cover at certain milestones of life.
Policyholders can choose from the following options at the inception of the policy:
|Plan Name||Entry Age||Maturity Age||Premium|
|HDFC Life Click2Protect Plus||18 years old to 55 years old||23 years old to 60 years old||Depends on the sum assured|
This plan offered by HDFC Life is designed for the rural folk. Keeping it simple to understand, HDFC life launched the CSC Suraksha to help rural areas get access to life insurance. The term plan is hassle-free and provides a lump sum payout in the event of the policyholder’s death. The benefits of this plan are:
|HDFC Life CSC Suraksha||18 years old to 55 years old||23 years old to 60 years old||Depends on the sum assured|
Term plans come with plenty of benefits which make them one of the most preferred insurance policies. To begin with, they are extremely affordable, offer large coverage, and they provide a lump sum payment to the nominees/beneficiaries in case the policyholder dies. HDFC Life, one of the largest insurance provider in the country, offers a few term insurance plans for its customers. These plans, also called Protection Plans, offer death benefits to the beneficiary listed out by the person insured.
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