Hdfc Saral Jeevan Bima Plan
HDFC Life Insurance Company
Our Verdict
HDFC Life Saral Jeevan Bima is ideal for individuals seeking affordable, no-frills term insurance. It offers flexible premium options and basic coverage, but the sum assured is limited to ₹25 lakh without riders.
About the Plan
HDFC Life Saral Jeevan Bima is a non-linked, non-participating term insurance plan providing financial protection to your family in case of your untimely demise. It offers flexible premium payment options—regular, limited (5 or 10 years), or single pay—and accommodates a sum assured ranging from ₹5 lakh to ₹25 lakh. The plan is designed to be accessible, ensuring that individuals from various income groups can secure their loved ones' financial future.
About the Plan
Eligibility
• Minimum Entry Age :
18 Years
• Maximum Entry Age :
65 Years
• Maturity Age :
Up to 70 years
• Policy Term :
5 to 40 years
• Minimum Sum Assured :
5,00,000
• Maximum Sum Assured :
No Limit
Eligibility
Features of the Product
Terminal Illness
Payable as a lump sum to the nominee in case of the policyholder’s death during the policy term.
Premium Payment Customizations
Policyholders can choose from multiple premium payment options:
Single Pay (one-time premium)
Regular Pay (throughout the policy term)
Limited Pay (5 or 10 years of premium payment for long-term coverage)
Flexible payment frequencies available: annual, half-yearly, and monthly.
Tax Benefits
Premiums paid and benefits received under this plan are eligible for tax benefits as per prevailing tax laws, offering additional financial advantages.
Exclusions
Suicide within 12 months from risk commencement or revival results in policy termination with a refund of 80% (regular/limited premium) or 90% (single premium) of premiums paid, excluding taxes and extra premiums.
Exclusions
Accidental Death - The plan includes basic life coverage, but additional accidental death benefits can be availed through the HDFC Life Protect Plus Rider. This rider provides an extra payout in case of accidental death.
Add-ons
If you are a woman
Women enjoy preferential premium rates, making life insurance more affordable compared to male policyholders.
The plan ensures comprehensive coverage tailored to evolving life stages and responsibilities.
Various coverage options are available, including increasing life cover and waiver of premium benefits.
Premiums paid are eligible for tax deductions under applicable laws.
If you smoke
An underwriting extra premium may be charged in case of Sub-standard lives and Smokers as per prevalent Underwriting policy.
Note :
Suicide Clause : If the life assured commits suicide within 12 months from the date of commencement of risk, the policy becomes void. In such cases, the nominee or beneficiary will receive 90% of the total premiums paid, excluding any extra premiums and taxes.
Free look up period: Policyholders have 15 days (30 days if the policy is purchased through distance marketing) from the date of receipt of the policy document to review the terms and conditions. If not satisfied, the policy can be returned for a refund of the premium paid, minus proportionate risk premium for the period on cover, expenses incurred on medical examination (if any), and stamp duty charges.
Grace Period: A grace period is provided for payment of due premiums:
30 days for yearly and half-yearly premium payment modes.
15 days for monthly premium payment mode.
During this period, the policy remains in force, and benefits are payable. If the premium is not paid within the grace period, the policy will lapse.
Still Confused ?
Why OneAssure?
We guide your loved ones every step of the way to ensure they receive the full benefit of their coverage.
About the Company
HDFC Life Insurance is one of India’s most trusted private life insurance companies, established in 2000 as a partnership between HDFC Ltd. and Abrdn (formerly Standard Life Aberdeen). Headquartered in Mumbai, it offers a wide variety of insurance products, including term plans, retirement solutions, child education plans, savings and investment plans, health insurance, and ULIPs (Unit Linked Insurance Plans). HDFC Life’s plans provide both financial protection and wealth-building opportunities, helping individuals and families secure their future. Known for its high claim settlement ratio and digital-first services, the company focuses on simplicity, flexibility, and affordability.