9 Reasons to Buy HDFC Life Insurance at BankBazaar

Introduction

HDFC Life is an insurance provider that was formed as a joint venture between HDFC (Housing Development Finance Corporation Ltd) and one of the UK’s leading financial service providers, Standard Life, which holds a 26% stake in the company. The venture was started in 2000 and has grown to over 400 branches spread all across India. Over the years the company has worked steadily to increase its portfolio to include insurance products that are made to suit every possible need of their customers. They even provide optional riders that can be used to enhance the cover of the policy.

Reasons to buy HDFC life insurance

• Offers lots of choice• Helps plan for retirement• Helps your money grow• Impressive claims settlement ratios• Offers flexible payment options• Get tax benefits• Provides enhanced coverage• Provides proper information• Can be bought online

Offers Lots of Choice

The complete range of life insurance policies offered by HDFC Life provides customers with choices that can help them fulfil various goals in life. These goals could be anything ranging from securing the financial future of the family with term insurance, to buying a house or paying for your child’s education.

Helps Plan for Retirement

Let’s face facts. Most people have an age in mind by which time they want to stop working, retire and enjoy the remainder of their lives. With the retirement life insurance plans on offer from the company, policyholders can live in peace knowing that when they retire, they will still have a source of regular income.

Helps your money grow

For those customers who are interested in a life insurance plan that will also help them increase their wealth, HDFC Life offers unit linked insurance plans (ULIPs) that provide insurance cover and invest a part of the premium in the debt and equity markets, thereby giving the money an opportunity to grow.

Impressive Claims Settlement Ratios

Many a times people think that a low premium means that the insurance policy is good but that is not always true because there are some insurers who honor very few claims that are made. That is another factor that sets HDFC Life apart because it has a claims settlement ratio of up to 95%. This means that they have honored up to 95% of the claims that were submitted to them.

Offers Flexible Payment Options

If paying the premium for the chosen life insurance policy is going to be a problem, HDFC also offers flexible payment options like monthly, quarterly, half-yearly and annual payments. This is done to ease the financial burden on policyholders.

Get Tax Benefits

The money spent on paying for premiums for life insurance policies is eligible for tax benefits under sections 80C, 80CCC and 10(10D) of the Income Tax Act 1961.

Provides Enhanced Coverage

The company offers a choice of riders that can be used to enhance the cover provided by the chosen insurance policy. These riders could range from accidental death riders to waiver of premium and critical illness benefit riders.

Provides Proper Information

In the busy day to day routine these days, it is not easy to make time for an insurance agent to come and explain policies to customers. That is where the HDFC Life online option comes in because it lets customers choose policies after studying them thoroughly and then go ahead and make the purchase online.

Can be Bought Online

Another advantage of the company’s online presence is that customers can download brochures of various insurance policies and go through them in their own time before making a decision.

Conclusion

The most important thing before making any purchase decision is that you must have all the information you might need and the way HDFC life insurance is set up, it lets you do just that.