HDFC Life Insurance is a service provider of life insurance plans that have been made to accommodate the needs of an individual, which may include pension plans, protection, saving, investment, annuity, and health plans.
HDFC Life Insurance has received numerous awards and recognitions in past years. Some of the awards and achievements won by HDFC Life Insurance have been detailed in the section below:
Key Features of HDFC Life Insurance
In India, every insurance company offers different types of life insurance plans. However, it is a daunting task to select the best life insurance company to buy the life insurance policy. Therefore, underneath are some of the significant features of HDFC Life Insurance Company that you should consider before picking the life insurance plan of this life insurance company:
1. Various Life Insurance Policies and Contracts
HDFC Life Insurance offers its customers a vast range of life insurance products. All the life insurance plans of HDFC Life Insurance are explicitly designed to meet every requirement of insurance for each individual. So, aligning with the number of life plans, it is easy for you to compare and get the best life insurance plan for yourself and your family.
2. Low-Cost Premium
HDFC life insurance plans are designed to take care of every need of an individual at an affordable premium amount. HDFC also provides professional plans for complete family financial protection in the case of your absence.
3. Claim Settlement Ratio
Claim Settlement Ratio denotes the number of claims approved by a life insurance company out of the number of claims made in a year. According to the parameters in the Annual Report of IRDAI, HDFC Life Insurance paid the claim settlement ratio accruing to 99.39% in the year 2022-23.
4. Solvency ratio
The solvency ratio is one of the critical factors that we should consider before choosing a life insurance plan according to the secured money from the life insurance company. It helps to analyze the ability to meet the financial obligations of a life insurance company. As per the Annual Report of IRDAI for 2022-23, HDFC Life has a solvency ratio of 2.0 in the FY 2022-23.
5. Human SupportÂ
Buying an HDFC insurance policy is a peaceful process because HDFC Life Insurance Company helps its customers effectively. They do have a customer portal, too, where the policyholder will be able to go through all their HDFC life policy online, and one is now enabled to undertake all the activities related to one’s policy with full access, even revival or renewal activity, policy update, or service requests storage.
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