Is HDFC Life is safe?
HDFC Life is a listed company with regular disclosure of the financials. The company does not take any aggressive investment risks. All liabilities are backed by adequate reserves in the form of safe assets. The company also maintains a healthy solvency ratio, well in excess of the regulatory requirement.
Is HDFC is good for term plan?
High Coverage at Low Premium: Terms plans offered by HDFC Life Insurance are quite affordable and provide significant coverage. Tax Benefits: As per section 80C and 10(10D) of the Income Tax Act, a policyholder is eligible to avail tax benefits for the term plans offered by HDFC Life Insurance against the premium paid.
Is HDFC Life a good investment?
The highlight of this plan is the extremely low level of charges, comparable with the mutual fund industry. Being a unit linked plan, it offers good growth potential if invested over a long period of time. All these factors make it a good investment cum insurance product which offers tax savings also.
What is the benefit of HDFC Life?
HDFC Life Insurance Benefits
| Claim Settlement Ratio | 99.07\% |
|---|---|
| Death Benefit Paid For | 12,509 Policies |
| Inception | 2000 |
| Presence | 421 Branches |
| Total Death Benefit Paid | 50.33 Crore |
What are the disadvantages of life insurance?
The following are the main life insurance disadvantages:
- High premium for aged people: This is the major disadvantage of life insurance policy.
- Difficult to calculate the returns: The returns on the life insurance policies are quite complicated and it is highly difficult to predict the returns.
Which policy is best in HDFC Life?
HDFC Life Savings and Investment Plans:
| Plan | Policy Term |
|---|---|
| HDFC Life Click 2 Invest ULIP | 5 to 20 years |
| HDFC Life Classic One | 10 years to 90 minus age at entry. |
| HDFC Life Sampoorn Samridhi Plus – Whole Life | 15 years to 40 years |
| HDFC Life Classic Assure Plan | 10/15/20 years |
Which is best saving option?
Best Saving Plans
| Savings Plans | Current Interest Rate |
|---|---|
| Public Provident Fund (PPF) | 7.1\% |
| KVP (Kisan Vikas Patra) | 7.6\% |
| Sukanya Samriddhi Yojana (SSY) | 7.6\% |
| Atal Pension Yojana | N/A |
How can I cancel my HDFC Life insurance policy?
Drop a mail to [email protected] with the subject line – ‘Need to deactivate auto-debit – Policy Number ‘ Reach out to the nearest HDFC Life branch and fill up the ECS mandate deactivation form.
What is the maximum age for life insurance?
It is possible to obtain a term insurance before the age of 65 and you can opt for coverage up to 99 years of age.
What are 5 advantages of insurance?
The following are the advantages of insurance:
- Providing Security: ADVERTISEMENTS:
- Spreading of Risk: The basic principle of insurance is to spread risk among a large number of people.
- Source for Collecting Funds: ADVERTISEMENTS:
- Encourage Savings:
- Encourage International Trade:
Can I surrender my HDFC Life policy?
Surrender Policy Reason(s) for policy surrender and the surrender form needs to be submitted at the nearest HDFC Life Insurance branch, along with the following documents: Original policy documents. Canceled cheque with the policyholder’s name on it.
Is HDFC Life Insurance maturity amount taxable?
Any maturity amount of life insurance policy or bonus amount received by the beneficiary of the policy in case of demise of the insured is totally exempted from tax deduction.