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NRI Customer Service
Greetings from NRI Center. We have attempted to provide key information here that is pertinent to non-resident Indians (NRIs) and people of Indian origin who have foreign nationality and reside abroad.
Click here to access Service help guide
Call us: +91-8916694100
(Mon to Sat, from 10 am to 9 pm IST), (Local charges applicable)
Mail us: [email protected]
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My Account
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Policy Servicing
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Auto debit
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NRI Taxation
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Maturity
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Claim
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Surrender
My Account
A user-friendly platform through which you can check and update your personal & policy details instantly. Whether you need to change your contact number or pay the premium, My Account is designed to empower you to keep your policy information up to date.
These are some of the important features you can access on the platform:
- Personalized Profile Management: Update your KYC, PAN, email id, contact no, address, bank account no, etc.
- Effortless Premium Payments: Pay your premiums in just few steps. You can also schedule an auto pay of your premiums to ensure you don’t miss out on a payment and your policy remains active.
- Instant Downloads: Policy Documents, Unit Statements, Premium Receipts, TDS Certificate, Annual Premium Statements and Bonus Statements can be downloaded at a click.
If you would like to check your policy details or need to make an update login on https://myaccount.hdfclife.com/login
We suggest you to keep your KYC and contact details updated to enjoy hassle free services from HDFC Life.
Policy Servicing
HDFC Life offers you full control over your policy. Now you can update your personal, contact and payment details at the comfort of your home. Enjoy a quick and hassle free policy servicing experience with us!
We have answered some frequently asked question to help you understand the maturity process better.
1 How do I modify the name in my policy?
You can modify the name in your policy through any of these options:
Online Account: Login to My Account https://myaccount.hdfclife.com/login and follow the steps given below:
- Go to ‘My Account’ tab. Go to ‘Personal Details’
- To Edit name, click on edit icon and save changes to upload document
Email: Please write to us at [email protected] using registered email id and raise service request
Please refer https://www.hdfclife.com/customer-service/list-of-kyc-proofs for list of kyc proofs that can be submitted for correction / change name in policy
2 How can I modify my mailing or permanent address in policy?
You can modify the mailing or permanent address in your policy through any of these options:
Online Account: Login to My Account https://myaccount.hdfclife.com/login and follow the steps given below:
- Go to ‘My Account’ tab.
- Click on edit icon under ‘Contact Details’ to update address
- Select ‘Upload Proof’ or ‘Enter Manually’ option to update address
Email- Please write to us at [email protected] using registered email id and raise service request
Please refer https://www.hdfclife.com/customer-service/list-of-kyc-proofs for list of KYC proofs that need to be submitted for change of address.
3 How can I update my contact details (Phone number/ Email id)?
You can update the contact details in your policy through any of these options:
Online Account: Login to My Account https://myaccount.hdfclife.com/login and follow the steps given below:
- Go to ‘My Account’ tab
- Click on edit icon to update contact details.
- Email ID and mobile number can be updated using this option
Email- Please write to us at [email protected] using registered email id and raise a service request
4 How can I update my PAN details?
You can update the PAN details in your policy through any of these options:
Online Account: Login to My Account https://myaccount.hdfclife.com/login and follow the steps given below:
- Go to ‘My Account’ tab. Go to ‘Personal Details’
- Click on edit icon to update PAN details.
- Click on ‘Verify PAN’.
Email- Please write to us at [email protected] using registered email id and raise service request
5 How can I change the mode of premium payment?
You can the premium payment mode in your policy through any of these options:
Online Account: Login to My Account https://myaccount.hdfclife.com/login and follow the steps given below:
- Click on ‘Policy Card’ after login and then click on ‘Edit Premium Payment Frequency’ option from ‘Select an Action’ menu
- Select frequency and click on ‘Save Changes’ button to change current frequency.
Please note – change in mode to monthly cannot be done online as it requires NACH details (Auto debit activation form) to be submitted. Alternatively, you can also register for auto debit of premiums online by visiting the below mentioned link: https://onlinepayments.hdfclife.com/HDFCLife/quick_mandate_registration.html and write to us at [email protected] to raise a request.
6 How can I change nominee details?
You can change the nominee details in your policy through any of these options:
Online Account: Login to My Account https://myaccount.hdfclife.com/login and follow the steps given below:
- Go to ‘My Policies’ tab
- Go to ‘Beneficiaries’ section
- Click on ‘View Details’
- Go to ‘Personal Details, Contact Details, Bank Details’ section
- Click on edit icon to make changes
- Click on ‘Save Changes’ button
Please note that once these changes are made, all the policy benefits will be paid out to the new Nominee/Beneficiary.
- Nominee Details:
- Nominee’s full name
- Nominee date of birth (in DD/MM/YYYY format)
- Allocation percentage
- Relationship with life assured
- Address of the nominee (if different from policy owner)
Note: - Please provide details for each nominee in case of more than one nominees.
In case nominee is minor, then please nominate an Appointee. Please help us with the following information:
Appointee Details:
- Appointee full name
- Appointee date of birth (in DD/MM/YYYY format)
- Relationship with nominee/beneficiary
- Address of Appointee:
You can write to us at [email protected] using registered email id and raise service request
7 How do I update my Bank/NEFT details?
You can update the bank/NEFT details in your policy through any of these options:
Online Account: Login to My Account https://myaccount.hdfclife.com/login and follow the steps given below:
- Go to ‘My Account’ tab, Go to ‘Bank Details’
- Click on edit icon to update NEFT details
- Fill the details and click on ‘Submit’ button
Email- Please write to us at [email protected] using registered email id and raise service request
8 How do I update KYC details?
You can update the contact details in your policy through any of these options:
Online Account: Login to My Account https://myaccount.hdfclife.com/login and follow the steps given below:
- Go to ‘My Account’ tab. Go to ‘Personal Details’
- Click on edit icon against KYC details to update KYC
- Select ‘Upload Proof’ or ‘Enter Manually’ option.
Email- Please write to us at [email protected] using registered email id and raise service request
9 How do I activate standing instructions?
You can activate standing instructions in your policy through any of these options:
Online Account: Login to My Account https://myaccount.hdfclife.com/login and follow the steps given below:
- Click on ‘Policy Card’ after login and then select ‘Activate Standing Instructions’ option from ‘Select an Action’ menu.
- It will open mandate registration screen to activate standing instructions
Email- Please write to us at [email protected] using registered email id and raise service request
Auto debit
With the extra advantages listed below, it is a secure digital platform to enable auto debit for renewal premium payment.
What is Auto-debit?
Auto Debit is a mechanism to collect payments on a recurring basis. For this a registration request is provided to HDFC Life through online or offline means. This will allow HDFC Life to enable a recurring mandate on the registered account or card (if applicable) for debiting future renewal premiums.
Automated recurring payments will help in paying premiums on time, in a hassle-free manner and in keeping the policy active and in force.
How can you register for auto debit?
Auto debit can be activated on bank accounts in India and cards issued in India.
1.QuickRegister
- You can activate auto debit online for future premiums by visiting the link
https://onlinepayments.hdfclife.com/HDFCLife/quick_mandate_registration.html
- Enter Policy number & Date of Birth and validate the details
- Click on Terms and Agreement checkbox and proceed
- Register mandate using Account/card
- Select your preferred bank/card network from the available list and proceed to authenticate
- For auto debit on account, (eNACH/eMandate), the authentication is done using net banking or debit card credentials (as applicable for the bank).
- For auto debit on cards issued in India, please follow the onscreen authentication process applicable for the bank
- Acknowledgement would be shown on screen once successfully authenticated
- In case of registration failure, retry using the same link.
Note:
1.The request to activate the online auto-debit facility needs to be given 15 days of the next premium due date.
2.eNACH/eMandate cannot be set on NRE/NRO accounts. For such accounts, please submit an offline NACH form for autodebit registration.
3.Cards issued outside India are not allowed to be registered for Standing Instructions. However, those could be used for making renewal payment manually on the online payment page, QuickPay or customer portal, MyAccount.
eSI (SI with Renewal Payment)
Auto debit can be registered for future premiums while paying current renewal premium on the QuickPay online payment page.This option is allowed for HDFC Bank and ICICI Bank accounts.Online payment can be done using the below link. https://onlinepayments.hdfclife.com/HLifeWeb-QP/hlife/quick_pay.jsp
Offline NACH/SI
To avail of this facility, please submit the Auto Debit Mandate along with a cancelled cheque at any HDFC Life branch or hand it over to your Financial Consultant. Customer can also set the Preferred Billing Date, on which his/her bank account needs to be debited towards the premium
Note: Kindly register 30 days prior to due date
SI ECS Deactivation:
We recommend you to continue with auto debit facility as it is hassle-free way to pay your premiums on time. This facility eliminates payment failures and late payments, so that you continue enjoying your policy benefits.
You may give your request to deactivate ECS via MyAccount
Steps to :
1.Login to my account
2.Click on policy card
3.Check select an Action menu
4.There will be option: Deactivate standing instructions
5.Click on that option
6.Confirmation pop up will display to deactivate mandate
Alternately, you can also visit your nearest HDFC Life branch location. Our staff at the branch will be happy to assist you with your deactivation request.
You may locate HDFC Life branches at https://www.hdfclife.com/contact-us#BranchLocator
Note :
1. If deactivation request is received within 12 days from the premium due date, the autodebit transaction may get executed from the registered account or card. In this case, the autodebit will be delinked from the next due date onwards.
2. For assigned policies, a No Objection Certificate (NOC) from the Assignee would be required. If assigned to an institution, NOC should be on the institution’s letterhead. NOC should have the Stamp/seal of the institution together with the signature of the authorized signatory for the institution.
Other Payment Options:
We request you to continue paying premiums for your policy and stay invested to enjoy the benefits. Further, for other payment options, please visit
https://www.hdfclife.com/customer-service/pay-premium
Note:
- For all the Cheque/DD payments, please mention HDFC Life followed by the policy number on the front side of the cheque. Name and contact details on the reverse side of the cheque/DD.
- No changes/corrections are allowed on the cheque (the only exception being alteration in the date, which needs to be countersigned). For any change in the Payees name, amount in figures or amount in words, etc., please issue a fresh cheque.
- In case, the Proposer/Policyholder opts for premium payment through Credit/Debit Card, the payment must be made only through the Credit/Debit Card issued in the name of such Proposer/Policyholder, if any other Payer recorded against the policy.
- In case of unit linked policies, for payments received after 3pm IST or on a non-working day or holiday, the NAV (Net Asset Value) applied would be of the next working day.
- In respect of premiums received with an outstation cheque/demand drafts at the place where the premium is received for unit-linked policies, the closing NAV of the day on which the cheque/demand draft is realized shall be applicable.
NRI Taxation
NRI customers are eligible to avail tax exemptions and deductions in India. We have answered some questions to help you understand the tax rules; so that you can avail the benefits.
Disclaimer: Non-resident customers are requested to seek tax advice of their Chartered Accountant or personal tax advisor with respect to their personal tax liabilities under the Indian Income-tax law and under the country of their tax residency.
1 How is it decided whether the person is a tax resident of a particular country or not?
Whether a person is a tax resident or not of a particular country is to be decided by the person himself in consultation with his Chartered Accountant/personal tax advisor. The person himself will have to confirm his tax residential status (i.e., whether he is a tax non-resident or not) by responding to certain questions which are included in the payout form itself basis which the TDS will be applied.
It may be noted that the determination of tax residency is crucial in order to be eligible to claim benefits of the applicable DTAA.
2 What is DTAA and who can I claim benefits of the DTAA?
DTAA (Double Taxation Avoidance Agreement) is the agreement between two countries with an objective to avoid taxation on same income in both countries. Presently, India has the comprehensive DTAAs with more than 90 countries.
For being eligible to claim benefits of the DTAA, one of the pre-requisites is that an individual (i.e. payee) has to be a resident of the country (other than India) with which DTAA entered into by India exists (i.e. applicable DTAA).
For this purpose, such individual has to provide certain specified documents in order to be eligible to claim benefits of the applicable DTAA.
The applicable DTAA may lay down additional conditions which must be fulfilled by the non-resident individual for being entitled to claim benefits of such DTAA with respect to such income.
3 What are the documents necessary to avail DTAA benefit by non-resident individual?
The non-resident individual has to submit the following documents to the Company to avail benefits of the applicable DTAA:
a. Tax Residency Certificate (TRC) Compulsory
b. Self-declaration in Form 10F Compulsory
In case the above documents are not provided, TDS shall be made by the Company in accordance with the provisions of the Act ignoring the provisions of the DTAA, as may be applicable.
In addition to the above, it is suggested to provide the following documents:
c. PAN card copy (if any)
d. Passport copy & Visa copy (if any).
The above documents need to be submitted every time when the non-resident individual requests for policy proceeds.
4 Is there a specified format of the TRC (Tax Residency Certificate)?
Section 90(4) of the Act requires that TRC is to be obtained by a non-resident from the government of the country of which he is a tax resident. Accordingly, there is no specific format prescribed under the Act for TRC. It is observed that each country has its own format for issuing a TRC. It is prudent that TRC contains the following information, which is not an exhaustive list, and would again depend on the TRC issuing authority:
- Name and address of the assessee;
- Tax residency status;
- Period for which the TRC is valid;
- Nationality of the assessee;
- Tax identification number of the assessee;etc.
It is important to note that the TRC should cover the period during which pay-out is being made.
5 What are the details that should form part of the self declaration in Form 10F?
There is a specific format of the self-declaration in Form 10F - click here to download form https://www.hdfclife.com/customer-service/forms-and-download .
Form 10F needs to be submitted with the Company containing the following details:
1. Name of the assessee;
2. Status (individual, company, firm etc.) of the assessee;
3. Permanent Account Number (PAN) of the assessee if allotted
4. Nationality (in case of individual);
5. Country or specified territory of incorporation or registration (in case of person other than individual);
6. Assessee’s tax identification number in the country or specified territory of residence or in case of no such number, then, a unique number on the basis of which the person is identified by the Government of the country or the specified territory;
7. Residential status for the purposes of tax;
8. Period for which the certificate is valid; and
9. Address of the applicant in the country or specified territory outside India, for the period for which the certificate is valid
6 What is the TDS rate applicable and is there any threshold limit to deduct tax?
Tax needs to be deducted at the rate provided under the Income-tax Act, 1961, or the DTAA, whichever is beneficial subject to submission of requisite documents.
However, where the TDS rate is not provided under the DTAA, the rate as provided under the Act applies which shall be the maximum marginal rate.
There is no minimum threshold specified for TDS in case of payouts under the life insurance policies.
7 Can tax relief be claimed by the customer in respect of the TDS made by the Company?
Generally, most of the DTAAs provide relief by way of credit for Indian taxes, if any, deducted/paid against the taxes payable by him in the country of his residence, in order to avoid double taxation.
However, depending on the provisions of the applicable DTAA and the provisions of the tax law of the residence country of the non-resident individual, following situation may arise -
a) the country of residence of the non-resident individual may restrict credit of tax deducted in India to the extent of tax payable on such income in residence country; or
b) the country of residence of the non-resident individual may not allow any credit of tax deducted in India against the tax payable on such income in residence country; or
c) where tax deducted in India is higher than the tax payable on such income in the residence country, refund of the excess tax deducted may not be allowed in the residence country.
Therefore, it is important to verify the specific language contained in the relevant DTAA or relevant provisions of tax law of the residence country of the non-resident individual before claiming such relief, in consultation with your Chartered Accountant/personal tax advisor.
8 What rate will be applicable if No TRC is available or validity of TRC is expired at the time of payout?
In such case, tax will be deducted as per the TDS rates specified under the provisions of the Act ignoring the provisions of the DTAA, as may be applicable.
9 Does the amendment by Finance Act 2023 for non ULIP policies of aggregate annual premium threshold of Rs. 5 lakhs apply to non-resident individuals also?
Yes. It applies to resident and non-resident individuals.
10 Does the aggregate annual premium threshold of Rs. 5 lakhs apply at customer level?
Yes. It is to be considered at customer level.
11 Is non ULIP subscribed through other Life Insurance Company also considered in determining the threshold?
Yes. All non ULIPs purchased by a non-resident policyholder, including those of other life insurance companies, have to be considered for determining the aggregate annual premium threshold.
12 How is the threshold of Rs 5 lakhs for non ULIPs determined?
The premium threshold of Rs 5 lakhs should only be considering the aggregate annual premium payable under the policies for non-resident individuals.
13 Does aggregate annual premium threshold apply as new business premium? Will renewal premium be included as well?
Yes. new business as well as renewal premiums are to be considered for non-resident individuals.
14 Do proceeds from single premium policies having premium in excess of Rs 5 lakhs qualify for exemption u/s 10(10D)?
No. Since the premium payable for the first year of the policy exceeds Rs 5 lakhs, the policy shall not qualify for exemption under section 10(10D) for non-resident individuals.
Maturity
HDFC Life offers maturity benefits on certain policies.
It is the lump-sum amount that HDFC Life will pay you after the completion of the policy term.
It will vary for conventional and Unit Linked policies and also differs from product to product
Please refer to the ‘Standard Policy Provision’ section in your policy document for Maturity benefits. You may also refer to our website for plan details.
We have answered some frequently asked question to help you understand the maturity process better.
1 Will I receive any intimation about maturity date and amount before maturity?
Yes, an intimation letter is sent 365 days prior to the maturity date of the policy along with SMS reminders for submission of pending documents as and when due. You may also refer the ‘Schedule of Benefits’ section of your policy document to know the maturity date of the policy.
2 How can I submit the documents for maturity process?
You can submit your documents through any of the following modes:
My account link - https://myaccount.hdfclife.com/my-link?action=MAT_CLAIM
Email the scanned copy of your documents in .jpg or .pdf format to [email protected] from your registered email ID
3 Which documents do I need to submit for maturity payout?
To process your maturity amount, you are requested to submit the below mentioned mandatory documents:
- PAN card (Only if tax is applicable to the policy, deduction of 20% will be done if not submitted. If available, then TDS is 5%)
- NEFT details - A printed proof from the bank with name of the account holder, account no. and IFSC. E.g. Personalized cancelled cheque or a copy of latest Bank Statement / Passbook containing these details.
Note:
- In case payout is to be processed in two accounts i.e. NRE and NRO/savings account, two NEFT mandates are required
- In case of a children or YoungStar or any other beneficiary plan, submit PAN card copy and preprinted personalized cancelled cheque of beneficiary
- In case you are a tax resident of any country other than India, following documents are required - valid Tax Residency Certificate (TRC), form 10F, tax declaration for NRI customers.
- TDS is applicable on payouts as per TDS guidelines.
- In case of assignment, the maturity benefit will be paid to the assignee. Thus, you need to submit NEFT details of the assignee. If assignee’s NEFT details are not submitted, No Objection Certificate (NOC) from the assignee should be produced. NOC should be on the institutions letter head. It should have the stamp/seal of the institution along with the signature of authorized signatory for the institution.
- In case of death of payee, death certificate of the payee would be required to process the maturity payout.
4 Can I receive my maturity amount in NRE account?
Maturity amount is credited in NRE account only if the premium is paid through NRE account. Below are the 3 ways in which you can receive your maturity amount.
- All premiums paid from the NRE account: If you have paid all premiums from the NRE account, you will receive a 100% payout in your NRE account. You need to provide the bank statement highlighting all the transactions for premiums paid towards your policy through the NRE account.
- Partial premiums paid from the NRE account: In case you have paid a certain percentage of your premiums from the NRE account then the same percentage of payout amount will be transferred to your NRE account. For eg. if 80% of your premium is paid through NRE account then 80% of payout will be paid in your NRE account and the remaining 20% of payout will be transferred to the NRO/savings account of your choice. You need to provide the bank statement highlighting the transactions for premiums paid towards your policy through the NRE account.
- No premiums paid from NRE A/c: If all premiums are paid through NRO/saving A/C then payout will be made in NRO/saving A/C. In this case, no bank statement proof is required only NEFT mandate for NRO/saving A/C is required for processing payout.
- Premiums received from international credit card are not eligible for payout to NRE account. It can be paid to NRO/savings account.
5 How can I choose settlement under my ULIP plan?
Under a settlement option, the maturity amount entitled to a life insurance policyholder is paid in structured periodic installments (up to a certain stipulated period of time post maturity) instead of a 'lump-sum' payout.
You can choose settlement option only if you have opted for a ULIP with settlement option. You need to mention the settlement term and frequency of payment and send us the details on [email protected] from your registered email ID at least 30 days before the maturity date.
During this period, the funds will remain invested with us and will be paid back to you on the selected term/NAV date. However, insurance cover is not applicable post maturity.
6 What is Enhanced cash/cover option?
Enhanced cash/cover option is available for HDFC Life Sampoorn Samridhi plan.
- Choice of maturity options:
Enhanced Cash Option (default option): The maturity benefit consists of sum assured, revisionary bonuses (if any), interim and terminal bonus applicable, plus additional enhanced terminal bonus. - Enhanced Cover Option:
Enhanced cover option is allowed only if all the premiums due under the policy have been paid.
The maturity benefit consists of sum assured, revisionary bonus, if any, interim and terminal bonus applicable, and additional sum assured payable on the death of the life assured up to age 99 years. This option does not have additional enhanced terminal bonus.
Claim
HDFC Life will stand by you in times of need as your trusted insurance partner. We can only imagine the emotional and financial distress faced while making a claim. So to help the claimants understand the claim process better, we have answered some frequently asked questions.
1 How can I intimate a claim to HDFC Life?
A claim can be submitted through any of the following ways:
- Click here to submit a claim online -https://lifeeasy.hdfclife.com/ (*Incase unable to submit on the portal, please scan and share the mandatory documents at [email protected])
- WhatsApp users can scan the QR code or message ‘Death claim’ on +91 8291890569 to start the process. (*Incase unable to submit on the portal, please scan and share the mandatory documents at [email protected])
- Alternatively, the claimant can email us the documents at [email protected] (with subject line NRI Claim).
- If the claimant is in India, claim intimation can be done by visiting one of our branches along with the claim documents as mentioned in FAQ No. 5
- Locate our branch using the link https://www.hdfclife.com/contact-us#BranchLocator
- If the claimant resides in Dubai, then claim documents can be submitted at our Dubai Representative Office. Click here for the address & contact details https://www.hdfclife.com/contact-us
- For former Exide Life Customers, click on the following link https://eli.hdfclife.com/customer-service/claims to register a claim online
2 What is claim process of HDFC Life?
We have a 4-step claim process:
Step 1: Initiate a Claim
The first step involves reporting your claim. You can report your claims online or through Whatsapp, Branch or e-mail as per your convenience. Claim intimation will be completed only after submission of necessary documents. (The list of necessary documents is mentioned in the FAQ given below)
Step 2: Document Scrutiny
While initiating a claim please share all the required documents to fasten the process. In case any other documents are required; our teams will contact you.
Step 3: Claim Assessment
Once we receive the claim, we carefully go through all the documents. At this stage, if we need any additional details we may contact you within 15 working days from the day the claim is submitted.
Step 4: Claim Decision
We will try our best to communicate our decision & ensure a simple, hassle free & faster settlement process.
3 Would the claim be paid in foreign currency?
The claim would be paid in Indian currency (INR) only.
4 Can I submit an NRE Account for receiving the claims proceeds?
NRE account will be accepted only if the premium payments are done through NRE bank account.
In case of premium received from NRE and/or Indian account- Payments are processed according to the ratio of amount received from NRE and/or Indian account.
Please submit the proof of premium payment (i.e bank statement or repatriation letter confirming premium paid through NRE account)
5 Which documents do I need to submit for death claim?
To enable you to arrange documents faster, find below a tentative list of documents that needs to be submitted along with the claim form:
MANDATORY DOCUMENTS
- Scan copy of policy document (Not necessary in case of dematerialized policy document)
- Death claim form. To download form click here https://www.hdfclife.com/claims
- Death certificate issued by local authority (Life Assured death in India)
- Death Certificate issued by the Authority or Indian Embassy Death Certificate (Life Assured death outside India)
- Valid Visa Copy of claimant
- Claimant's passport size photograph
- Personalized cancelled cheque or bank passbook (with printed A/c no, IFSC & name of the account holder)
- Claimant's valid identity proof
- Claimant's valid address proof
- Claimant's PAN card/form 60 (if PAN Card not available)
- Employer’s certificate (form) for life assured, if employed (not required for pension/ annuity plans)
ADDITIONAL DOCUMENTS
- Medical cause of death certificate
- Medical records for all the treatments taken in the past. (admission notes, history / progress sheet, discharge /death summary, test reports, etc.)
Additional case specific documents may be raised post claim submission
6 Who is entitled to receive the claim benefit?
The claim amount is payable to the policyholder / nominee / beneficiary / appointee / assignee under the policy. Every policy document clearly states the names against these roles.
RULE FOR PAYMENTS |
PAYEE |
In UL-Young Star / Children’s Plan |
Beneficiary |
Proposed policyholder is different from the life assured |
Proposed policyholder |
Policy is assigned |
Assignee |
None of the above |
Nominee (for death claims) / life assured (for living benefit claims) |
Nominee is a minor |
Appointee |
Note:
- In case the life assured has changed the nomination / appointee. The death claim amount is payable to the latest nominee / appointee registered with the company
- In case the policy is re-assigned, then the death claim amount is payable to the latest nominee / appointee registered with the company
- In case there are no nominations under the policy the death benefits would be paid to the heirs of the deceased life assured. HDFC Life would seek succession certificate; if the successor is minor, then guardianship certificate.
7 What happens when there is no nomination or in case of a pre-deceased nominee at the time of death claim?
In such circumstances, we would require the proof of title/succession certificate issued by a competent court. The claim would then be paid to the person specified in the said proof. Such a condition is called 'Open Title' situation.
If we have accepted the claim but are waiting for the issued certificate of proof, we hold the money till the proof is submitted.
8 Can I track my claim?
Yes, you can track your claim on our claim section on website https://www.hdfclife.com/claims by providing claim and policy number.
9 What is the time frame within which the claim has to be reported?
A claim must be reported as soon as possible to enable the company to process the claim.
10 What is the maximum claim processing timeline prescribed by Insurance Regulatory Development Authority of India (IRDAI)?
TYPE OF CLAIM |
CLAIM SETTLEMENT TURNAROUND TIME |
Claim which does not requires an investigation |
30 days from receipt of all relevant papers and clarifications required |
Claim which requires an investigation |
120 days from the date of lodging the claim |
11 How can I intimate a critical illness claim to HDFC Life?
For Critical illness please follow the below mentioned process:
You can intimate the claim by visiting the nearest branch or send the documents at [email protected].
For the list of operational branches, please click on the below link: https://www.hdfclife.com/contact-us#BranchLocator.
12 Which documents do I need to submit for critical illness claim?
To enable you to arrange documents faster, find below a tentative list of documents that needs to be submitted along with the claim form:
- Critical illness claim form. To download form click here https://www.hdfclife.com/claims
- Medical records, (current & past) viz: hospital record, reports of diagnostic tests done
- Scan copy of policy document (Not necessary in case of dematerialized policy document)
- Valid Visa Copy of Life Assured
- Life Assured residence proof
- Life Assured identity proof
- Personalized cancelled cheque or bank passbook of Life Assured (For youngstar plan cancelled cheque copy or bank statement of beneficiary of required)
Additional case specific documents may be raised post claim submission.
Surrender
As your trusted insurance partner we will always encourage you to stay insured. In case you have an immediate financial requirement instead of surrendering your policy you can check your eligibility for a loan or a partial withdrawal.
Read some of the most common queries on policy surrender process:
1 What does it mean to surrender an insurance policy?
Surrender is a voluntary request made by the policyholder to exit from the policy even before it matures.
2 How much money will I receive when I surrender my insurance policy?
Your surrender value is computed as per the surrender clause mentioned in your policy terms and conditions. Surrender value depends on various factors like the number of premiums paid, premium amount, type of plan, etc.
3 What are the consequences of surrendering an insurance policy?
Insurance polices are made to secure your future and provide long-term financial benefits. It is advisable to stay invested through the whole period of the policy term to maximize the benefits. When a policy is surrendered; certain charges are deducted from your policy and the remaining amount is paid to the policyholder. Also, the policy gets terminated and no terminal benefits such as death or maturity benefits are provided. The policy will be treated as closed and not in-force.
4 Can I surrender my insurance policy anytime?
A policy can be surrendered post completion of the lock in period as per the surrender clauses mentioned in the policy document.
1. In case of a ULIP policy, surrender value is payable only after the completion of Lock-In period. However, if a ULIP policy is surrendered before the lock-in period, the unit fund value minus discontinued charges will move to ‘discontinued policy fund’ and this amount will not be payable before completion of the lock-in period. The policy terminates and the discontinued policy fund amount will earn minimum guaranteed interest rates as specified by IRDAI for the remaining period. Post completion of lock in period the discontinued policy fund along with the accrued interest will be paid.
2. If a ULIP policy is surrendered post lock in period, the surrender value will be equal to the fund value (after deduction of charges for surrender and TDS as applicable) on the date of surrender.
5 I have a financial requirement and do not wish to surrender my policy. What are my options?
Instead of surrendering your policy we encourage you to check your eligibility for a partial withdrawal or a loan. Depending on the terms & conditions mentioned in the policy, a partial withdrawal or a loan can be provided to you. This will help you to meet your financial requirements and at the same time continue to stay secured.
6 How do I surrender my insurance policy?
To surrender your policy, you can write to us at [email protected] from your registered email ID along with required document. You can also request for customized surrender link by contacting us at [email protected] and complete the process as per the mentioned guidelines
7 What are the documents required to surrender an insurance policy?
Below documents are required for surrendering a policy:
1) Copy of self attested KYC documents of Policyholder/ Life Assured/Payer (Valid Proof of Identity and Address).
2) Copy of self -attested PAN card or Declaration in Lieu of PAN (if PAN not available). Please note if the PAN of the customer is not available at the time of the payout, TDS @ 20% will be deducted; else 5% will be deducted, if applicable
3) For assigned policies, a No Objection Certificate (NOC ) from assignee would be required
4) Policyholder's / Beneficiary’s personalized cancelled cheque with IFSC, account holder's name and account number printed on it. If cancelled cheque is not available then share the front page of Bank passbook or latest bank statement (of last 3 months) with the pre-printed name, account number printed on it
5) Self-attested copy of first page of Policy Document or Policy Document Waiver form (if policy document is not available, form attached herewith/available at the branch)
6) For HDFC Life Youngster Plan or HDFC Life Children’s Plan, pre-printed cancelled cheque with name of the Beneficiary is required; if the Beneficiary is a major on or before the date of the surrender request. Please note that the PAN /Form 60 (if PAN not available), Declaration in Lieu of PAN (incase of NRI if PAN not available) and KYC documents shall be required for the beneficiary
Please Note:
- For all Unit linked policies, surrender requests that are made till 3.00 pm IST at the office will receive the same day's Net Asset Value (NAV) whereas requests that are made post 3.00 pm IST will receive the next working day's NAV.
- NAV date will be considered basis the date on which receipt of final document on any working day, else it would be the next working day.
- Refund to NRE account (full or proportionate) will be subject to ratio of premium(s) paid through NRE account. Please submit a Bank Statement or Bank Confirmation letter as evidence for premium(s) paid through NRE account. In case of proportionate payout, please provide two NEFT mandates i.e. for NRE account and non-NRE account.
- If you are a non-resident in India as per the Income-tax Act, 1961, you are mandatorily required to submit Tax Residency Certificate (TRC) with Form 10F to avail treaty benefits, otherwise tax will be deducted at source at a higher rate from policy payouts. As per section 195 of the Income-tax Act, 1961, tax will be deducted at source from any payout to a non-resident at the rate applicable therein and subject to the conditions specified therein. Tax laws are subject to change.
INT/DS/06/23/2807