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+91-9797971876HDFC Life
HDFC Life – Your Partner in Protection
HDFC Life
HDFC Life Insurance Company Limited, widely known as HDFC Life, is a leading life insurance provider headquartered in Mumbai, India. Founded in 2000 through a strategic joint venture between Housing Development Finance Corporation (HDFC) and Abrdn Plc, HDFC Life has swiftly established itself as one of the most reliable names in the Indian insurance industry. The company effectively meets critical demands for protection, savings, retirement planning and health insurance, offering a comprehensive range of products that cater to individual and group needs.
HDFC Life boasts a vast network of over 467 branches spread across over 980 cities and towns in India, backed by a dedicated workforce of approximately 16,544 employees. The company is unwavering in its commitment to innovation and customer-centred solutions, utilizing technology to deliver seamless and efficient services. Its strategic alliances with various financial institutions bolster its distribution capabilities, making its offerings accessible to a diverse range of customers.
HDFC Life, a socially responsible organization, is deeply committed to community development through its CSR initiative - Swabhimaanm which seeks to empower underprivileged groups. With the ambition of becoming India’s most esteemed life insurance provider, HDFC Life consistently sets industry benchmarks while promoting sustainable growth and ensuring financial security for its clients.
Awards And Achievement
2024
12th Golden Globe Tigers Awards
HDFC Life proudly received the prestigious ‘Customer Service Excellence’ award in the life insurance sector, recognizing its outstanding leadership and commitment to excellence in the BFSI industry.
15th Edition of the CX Strategy Summit and Awards 2024
HDFC Life was honoured with the prestigious 'CX Strategy of the Year award’, recognizing its exceptional initiatives in enhancing customer experience.
16th Mint BFSI Summit and Awards
HDFC Life was honoured as the “Best Life Insurer”.
17th Customer Fest Leadership Awards 2024
HDFC Life won the “Best Customer Experience” award.
3rd Future of Insurance Summit and Awards 2024
- HDFC Life won the ‘Best Use of Technology to Enhance Customer Experience’ award for its innovative solutions.
- HDFC Life received the 'Best Digital Experience Life Insurance' award at the event.
4th Smart CX Summit and Awards 2024
HDFC Life's innovative customer experience strategies earned it the 'Best Innovation in CX' award at the 4th Smart CX Summit & Awards 2024, hosted by The Brainalytics.
6th CX Transformation Confex and Awards 2024
HDFC Life was recognized for its Zero Touch Payout Process for regular income policies.
6th Digital Customer Experience Awards
HDFC Life’s 'Zero Touch Customer Payout Process' won first place.
7th Annual Insurance Conclave and Awards
HDFC Life’s Click2Protect Super was named India’s top Term Insurance Policy.
97th SKOCH Summit
- Vibha Padalkar, MD & CEO of HDFC Life, won the 'SKOCH CEO's Choice Award - CEO of the Year' in life insurance.
- HDFC Life's Click 2 Protect Super has been honoured with the prestigious Gold award.
- The 'HDFC Life Smart Protect Plan' earned the Silver award.
- HDFC Life's 'Smart Pension Plus' was recognized with a Silver award.
7th Annual Insurance Conclave and Awards
HDFC Life's Click2Achieve was recognized as India's premier Endowment Insurance Policy.
ACEF's 13th Global Customer Engagement Summit and Awards
- HDFC Life proudly took home a Gold award for its innovative Product Recommendation Analytical Model campaign.
- The company proudly received a Gold award for its Product Recommendation Journey of Growth campaign.
- HDFC Life secured the Bronze award for its innovative Product Recommendation Personalized Customer Welcome Journey campaign at the event.
Banking Frontiers InsureNext Conclave and Awards 2024
- HDFC Life proudly received the 'Best Digital Transformation Initiative' award.
- During the same event, HDFC Life was honoured with the award for ‘Best Innovation.’
Best Workplaces in Asia
HDFC Life proudly secured the 37th position in Great Place to Work's prestigious list of ‘Best Workplaces in Asia.’
Business World Most Respected Companies
HDFC Life has earned a distinguished spot on Business World's esteemed list of the Most Respected Companies.
BW Businessworld India’s Most Sustainable Companies
HDFC Life has been recognized as one of the top four performers in BW Businessworld's prestigious ranking of India's Most Sustainable Companies.
Dun and Bradstreet BFSI and Fintech Summit 2024
HDFC Life garnered acclaim as a premier life insurance provider in India.
e4m Prime Time Awards 2024
HDFC Life's Protection Campaign, featuring Rishabh Pant, proudly clinched the Gold award for 'Best Use of Celebrity on TV'.
Excellence in Exceptional IT Support
HDFC Life has been honoured with the ‘Excellence in Exceptional IT Support’ award in the insurance category.
3rd Future of Insurance Summit and Awards 2024
- HDFC Life proudly claimed the title of ‘Best Customer Centric Culture.’
- The company garnered accolades for 'Best Use of Innovation to Enhance Customer Experience' at the same event.
Human Capital Management Excellence Award
HDFC Life's Learning and Development team has achieved the remarkable distinction of winning the coveted Brandon Hall Gold Award for the fourth consecutive year.
Indian Corporate Governance Scorecard 2023
HDFC Life has achieved a prestigious top ranking in the 'Leadership' category of the Indian Corporate Governance Scorecard Assessment 2023, conducted by Institutional Investor Advisory Services (IiAS).
Most Powerful Women in Business 2024
Vibha Padalkar, MD and CEO of HDFC Life has earned a place on Fortune India’s Most Powerful Women list for an impressive fourth consecutive year.
PR and Communication Aces Awards 2024
HDFC Life has been honoured with the Gold award for 'Best New Product Launch Campaign', recognizing its outstanding launch of HDFC Life Click 2 Achieve.
The Economic Times - Best Organizations for Women 2024
HDFC Life has been honoured by The Economic Times as one of the 'Best Organizations for Women' for 2024.
Transformance Forums 2nd India M&A Conclave and Awards 2024
HDFC Life’s Investor Relations and Business Planning teams were honoured with the prestigious 'M&A Integration Team of the Year award.
Company Specifications/Key Features of Company
| Company Specifications/Key Features | Details |
|---|---|
| Company Name | HDFC Life Insurance Company Limited |
| Year of Establishment | 2000 |
| Headquarters | Mumbai, Maharashtra, India |
| Parent Company | HDFC Bank Limited |
| Market Cap | ₹1.37 trillion |
| Total Employees | 32,448 |
| Branches | 498 across India |
| Countries of Operation | India, GCC, and the broader MENA region |
| Key Person | Ms. Vibha Padalkar (MD & CEO) |
| Insurance Products Offered | Over 60 products including Term Insurance, Savings Plans, Retirement Plans, ULIPs (Unit Linked Insurance Plans), Health Insurance etc |
| Claim Settlement Ratio (FY 2023-24) | 99.50% for individual claims |
| Technology Initiatives | Contactless and paperless services across channels |
| Distribution Partners | Over 300 partnerships with banks, NBFCs, MFIs, brokers, etc. |
| CSR Initiatives | HDFC Life Swabhimaan focuses on education, healthcare, and environmental sustainability |
| Vision Statement | To be one of the most successful and admired life insurance companies known for trust and value for money |
| Core Values | Excellence, Integrity, Customer Centricity, Collaboration, People Engagement |
HDFC Life Insurance Plans
| Sl no. | Plan | Entry age | Tenure | Minimum sum assured | Mximum sum assured |
|---|---|---|---|---|---|
| 1 | Savings Plan |
| 10 years TO 15 years less age at entry | 5,572 | 998,769 |
| 2 | Loan Suraksha |
| house loan 50,000/other loan 5,000 | ||
| 3 | Jeevan Suraksha |
| 1 years TO 10 years less age at entry | 1,000 | 200,000 |
| 4 | Poorna Suraksha |
| 1 month TO 6 years less age at entry | 10,000 | will be as per the Board Approved Underwriting Policy (BAUP) |
| 5 | Group Suraksha |
| 1 month TO 2 years less age at entry | 1,000 | 200,000 |
| 6 | Term Insurance |
| 5,000 | No limit (depends on the age and occupation profi le of the employee) As per Board Approved Underwriting Policy (BAUP) | |
| 7 | Sanchay Legacy |
| 5 years TO 15 years less age at entry | 7 times the Annualised Premium | subject to the Board Approved Underwriting Policy (BAUP) |
| 8 | Sanchay Par Advantage |
| 20 years TO 40 years less age at entry | 300,000 | No limit, subject to Board Approved Underwriting Policy (BAUP) |
| 9 | Click2Protect Life |
| 10 years TO 30 years less age at entry | 2,000,000 | No limit, subject to Board Approved Underwriting Policy (BAUP) |
| 10 | Sampoorn Samridhi Plus |
| 15 years TO 40 years less age at entry | 65,463 | No limit, subject to satisfactory board approved underwriting policy |
| 11 | ClassicAssurePlus |
| 10 years TO 20 years less age at entry | 49,447/ 48,032/ 73,516 | No limit, subject to satisfactory underwriting |
| 12 | Super Income Plan | Minimum age : 18 Maximum age: 75 | 15 years TO 27 years less age at entry | Limited Pay : Rs. 76,198 Single Pay : Rs. 18,457 | No limit, subject to satisfactory underwriting |
| 13 | Sanchay Fixed Maturity Plan |
| 5 years TO 40 years less age at entry | Single Premium:12,500 Regular/Limited Pay:70,000 | No maximum limit, subject to Board Approved Underwriting Policy |
Benefits of Choosing HDFC Life
Selecting HDFC Life for your insurance requirements presents a wealth of benefits designed to enhance both your financial security and investment growth. Here are the standout advantages -
- Death Benefit - HDFC Life policies offer a tax-free death benefit to your nominee if you pass away during the policy term. This guarantee ensures your family can effortlessly manage financial obligations - such as loans, education and everyday expenses - during a challenging time.
- Income Replacement - In the tragic circumstance of the policyholder’s passing, life insurance serves as a crucial safety net, ensuring that lost income is replaced and enabling the family to sustain their standard of living.
- Investment Component - A significant feature of many HDFC policies, especially Unit Linked Insurance Plans (ULIPs), is the integration of insurance with investment. A portion of your premium is allocated to equity or debt funds, creating opportunities for wealth growth over time. This dual advantage is instrumental in reaching long-term financial aspirations, such as purchasing a home or financing your children’s education.
- Tax Deductions - Premiums paid for HDFC life insurance policies qualify for tax deductions under Section 80C of the Income Tax Act, allowing you to claim up to 1.5 lakh rupees each year. Furthermore, the maturity and death benefits are typically exempt from tax under Section 10(10D), which can greatly alleviate your overall tax liability.
- Riders and Add-ons - Enhance your coverage with HDFC Life’s versatile riders that seamlessly integrate into your base policy. From critical illness riders to accidental death benefits and premium waiver options, you have the flexibility to customize your policy to address your unique needs - all without the hassle of acquiring separate insurance plans.
- Maturity Payouts - Upon completing the policy term, HDFC Life offers maturity benefits encompassing the sum assured along with any accumulated bonuses. This can serve as a significant financial asset for retirement or other future necessities.
- Chronic and Terminal Illness Coverage - Some policies include provisions for chronic or terminal illnesses, allowing policyholders to access a portion of the sum assured to assist with treatment expenses if diagnosed during the policy term.
- Reputation and Reliability - With a steadfast presence in the life insurance sector for over 24 years, HDFC Life has earned its reputation as a reliable partner. The company is known for its innovative products and services designed to deliver comprehensive financial protection.
HDFC Life Insurance Tax Benefits
HDFC Life Insurance offers an array of tax advantages as outlined in the Income Tax Act of India. Specifically designed for individuals and Hindu Undivided Families (HUFs). These benefits can greatly lower the taxable income for policyholders. Here is a comprehensive breakdown of the tax benefits linked to HDFC Life Insurance.
Deductions under Section 80C
- Maximum Deduction: Policyholders can enjoy a maximum deduction of 1.5 lakh rupees each financial year on premiums paid for life insurance policies, as outlined in Section 80C of the Income Tax Act of 1961.
- Eligibility: This deduction applies to premiums paid for policies covering oneself, a spouse or children. For policies issued on or after April 1, 2012, the premium must not exceed 10% of the total sum assured to qualify for deductions.
- Special Cases: For individuals with significant disabilities or certain medical conditions, the limit is raised to 15% of the sum assured for policies issued after April 1, 2013.
Additional Deductions under Other Sections
- Section 80D: It offers valuable tax benefits on premiums paid for health insurance. Individuals can claim deductions of up to 25,000 rupees for themselves, their spouses and dependent children. Additionally, they can claim another 25,000 rupees for their parents, which increases to 30,000 rupees if the parents are senior citizens.
- Section 80DD: It allows taxpayers to claim a deduction of up to 50,000 rupees per year for premiums paid for disabled dependents. This amount rises to 75,000 rupees for those with severe disabilities.
Exemptions under Section 10(10D)
- Maturity and Death Benefits: The funds received from life insurance policies are typically tax-exempt under Section 10(10D). This exemption applies to both maturity benefits and death benefits awarded to the nominee.
- Conditions: However, this exemption does not apply if:
- For policies issued after April 1, 2012. The premium surpasses 10% of the sum assured.
- The policy was acquired under particular conditions specified in other sections, such as Section 80DD(3) or if it falls under the category of Keyman Insurance Policy.
How to File HDFC Life Insurance Claim?
HDFC Life offers policyholders the flexibility to choose from three convenient methods to begin their claim process:
Moreover, you can also raise your claim by visiting the nearest branch of HDFC Life.
1: Online Submission
Policyholders can submit claims online via HDFC Life's website, enabling quick and efficient claim processing without paperwork.
2: WhatsApp
HDFC Life allows policyholders to report claims via WhatsApp by scanning a QR code or texting “Death Claim” to +91-82918 90569.
3: Branch Visit
HDFC Life allows claim intimation through branch visits. Policyholders can submit the claim form in person at the nearest branch. The form can be downloaded from the HDFC Life website.
HDFC Life guarantees a seamless process for lodging and processing claims, regardless of the method you choose. This streamlined approach prioritizes customer convenience, ensuring efficient support throughout the claims settlement journey.
| Step | Online Claim Process | Offline Claim Process |
|---|---|---|
| Intimate the Claim |
| You can easily download the claim form from the HDFC Life website or visit a nearby branch to collect it in person. |
| Submit Details | Please provide the necessary information for the individual being insured, including identification proof and medical certificates. |
|
| Nominee Details | Please supply the nominee details necessary for the claim settlement process. | Please ensure that you submit the completed claim form along with all necessary documents to the branch representative. |
| Documentation |
| Submit all necessary documents including:
|
| Claim Evaluation | The claims management team will meticulously review and assess the submitted documents to ensure compliance with policy terms. | The branch will evaluate the submission and may ask for additional documentation if necessary. |
| Claim Settlement | Upon approval, the claim amount will be processed and settled within the designated timeframe, typically within 30 days. | Upon verification, the claim amount will be processed and settled according to your chosen payment method, such as ECS or others. |
Required Documents for HDFC Life Insurance Claim
You have to submit the following documents to successfully request an HDFC Life claim -
| Claim Type | Documents Required |
|---|---|
| Natural Death Claim |
|
| Unnatural Death Claim |
|
| Critical Illness Claim |
|
HDFC Life Insurance Contact Details
| Category | Details |
|---|---|
| Corporate Office | HDFC Life Insurance Company Limited |
| Address | 12th Floor, Lodha Excelus, Apollo Mills Compound, N.M. Joshi Road, Mahalaxmi, Mumbai - 400011 |
| Telephone | (022) 67516666 |
| Working Days | Monday to Friday |
| Timings | 9:15 AM to 6:00 PM |
| Customer Service (Mumbai) | 11th Floor, Lodha Excelus Apollo Mills Compound, N.M. Joshi Road, Mahalaxmi, Mumbai - 400011 |
| Customer Service (Chennai) | 37/38, 2nd Floor, ASV Ramana Towers, Venkatnarayana Road, T.Nagar, Chennai - 600017 |
| International Office | Office number- 207, 2nd floor, The Business Center, Bank Street, Bur Dubai, UAE |
| International Working Days | Monday to Friday |
| International Timings | 9:00 AM to 5:00 PM |
| Toll-Free Number (General) | 1800-266-9777 |
| Toll-Free Number (New Policy) | 1800-315-7373 |
| WhatsApp Contact | +91-8291-890-569 |
| Email for NRI Customers | nriservice@hdfclife.com |
Frequently Asked Questions (FAQs)
A.
HDFC Life and LIC both provide extensive life insurance plans, yet HDFC Life boasts a superior claim settlement ratio of 99.39%, outperforming LIC’s 98.74%. Additionally, HDFC Life offers greater flexibility and a broader array of products, making it an attractive choice for individuals looking for tailored solutions and contemporary services.
A.
To access your HDFC Life insurance details, simply head to the official HDFC Life website and log in using your registered mobile number or email address. If you prefer, you can also reach out to customer service or utilize their mobile phone app for further assistance.
A.
HDFC Life Insurance does not offer a fixed interest rate since it provides a range of products, each with varying returns depending on the chosen policy type. Typically, the returns for investment-linked plans are tied to market performance.
A.
As of October 1, 2024, HDFC Life shares are trading at around 709 rupees in the BSE, showing a modest increase compared to the previous year.
A.
LIC surpasses HDFC Life in size, boasting greater assets under management and a more extensive market presence. As a government-owned organization with a rich history in the insurance sector, LIC stands out prominently.
A.
HDFC Life, a dynamic joint venture established in 2000, is co-owned by HDFC Limited and Standard Life from the UK. The company is dedicated to offering a wide array of insurance products tailored to the Indian market.
A.
HDFC Life is highly regarded as one of the premier choices in the industry, thanks to its impressive claim settlement ratio and diverse range of product offerings, commitment to customer-centric services and innovative technological advancements that significantly improve user experience and policy management.
Life Insurance Companies in India
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