HDFC Life ULIP Plans

HDFC Life ULIP Plans - FAQs

• What is ULIP in HDFC Bank?

  In HDFC Bank, ULIP stands for Unit Linked Insurance Plan. It is a type of financial product that combines life insurance coverage with the opportunity for market-linked investment returns. This means you get:

  • Insurance protection: A portion of your premium goes towards building a life insurance cover for your beneficiaries in case of an unfortunate event.

  • Investment potential: The remaining portion of your premium is invested in various market-linked funds like equity, debt, or a mix, depending on your risk appetite and financial goals. These funds can potentially grow your wealth over time.

• Is the HDFC ULIP Plan good for 5 years?

  Whether an HDFC ULIP plan is good for 5 years depends on several factors, including your investment goals, risk tolerance, and the specific plan features.

  Pros of a 5-year HDFC ULIP:

  • A 5-year ULIP can be a good option if you have a short-term financial goal like buying a car or funding a vacation

  • You gain access to market-linked investment returns through equity and debt funds, potentially outperforming traditional savings accounts.

  • HDFC ULIPs offer flexibility in premium payment frequency and fund switching, allowing you to adjust your investment strategy based on market conditions.

  • You can avail tax deductions under sections 80C and 10(10D) on your premium payments, depending on the plan.

• What is the interest rate of the HDFC ULIP Plan?

  ULIPs do not offer a fixed interest rate like traditional savings accounts or fixed deposits. They are market-linked investment products, and their returns depend on the performance of the underlying funds you are choosing to invest. As of January 2024, the HDFC Life ULIP Plan offers 5-year annualised returns between 12% and 21% p.a.

• What is the return of the HDFC ULIP Plan in 10 years?

  The HDFC ULIP Plan offers 10-year annualised returns between 10% and 19% p.a.

• How to pay premium? What are the modes of payment available?

  You can pay your HDFC Life Insurance premium through ANY these following methods:

  • ECS SYSTEM
  • Bill Pay – EBPP (Electronic Bill Presentment and Payment)
  • Drop box
  • YES /AXIS Bank debit card
  • Bill pay-EBPP(Electronic bill presentment and payment)
  • Cash/Cheque Payments
  • NEFT

  For paying premium online, please visit e-portal.

  Step 1: Enter your policy details – policy number and policyholders date of birth

  Step 2: Pay from your debit/ credit card or select your online bank account to make the payment

  Step 3: Authenticate and confirm your payment details and receive online premium payment receipt

• How can I check policy status for HDFC Life ULIP plans?

  You can check policy status online, if you are a registered user. Simply log into the e-portal with your Client ID and password to check the policy status.

• What is the policy renewal process for HDFC Life ULIP plans

  Renew your policy online. Here are the steps;

  Step 1: Login with your customer ID and password on

  Step 2: Select the policy due for renewal payment. Click Pay Renewal Premium Now

  Step 3: Choose payment option- Credit/Debit Card or NEFT

  Step 4: Authenticate and confirm your payment details and print the payment receipt

• What is the company’s process to settle claim for HDFC Life ULIP plans

  For HDFC Life Insurance policyholders, Cashless facility is permitted in case of hospitalization or surgery. For others the process is as follows;

  Step 1: Duly fill the claims form

  Step 2: Attach the relevant documents- medical bills, reports, accident report- with your claims form

  Step 3: Submit the documents at the Claims Office at any of your nearest HDFC branch in your city

  Alternatively, you can post it at their registered headquarter:

  HDFC Standard Life Insurance Company Ltd.Lodha Excelus, 13th Floor Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India.

• What is the policy cancellation process for HDFC Life ULIP plans

  Policyholders must attach all the relevant policy documents along with a duly filled surrender form at any of the branch locations in their city. Within 72 hours, the refund will be made into your bank account, post deducting cancellation charges, stamp duty (if any), and medical tests.