HDFC Life

HDFC Life

Sar utha ke jiyo!

HDFC Life (HDFC Standard Life Insurance Company) is a long-term life insurance solutions provider with its headquarters in Mumbai, offering individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Ltd (HDFC), one of India's leading housing finance institution and Standard Life plc, leading well known provider of financial savings & investments services in the United Kingdom. HDFC Ltd. holds 72.37% and Standard Life (Mauritius Holding) Ltd. holds 26.00% of equity in the joint venture, while the rest is held by others.[1]
Contents

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1 Presence & Distribution 2 Products & Services 3 Key people 4 Corporate History 5 Associated Companies 6 Social Initiatives 7 Awards 8 References 9 External links

Introduction HDFC Life is a joint venture between Housing Development Finance Corporation Limited (HDFC), India's leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom. HDFC Ltd. holds 72.37% and Standard Life (Mauritius Holding) Ltd. holds 26.00% of equity in the joint venture, while the rest is held by others. HDFC Life's product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, Investment and Health. Customers have the added advantage of customizing the plans, by adding optional benefits called riders, at a nominal price. The company currently has 35 retail and 10 group products in its portfolio, along with 10 optional rider benefits catering to the savings, investment, protection and retirement needs of customers. HDFC Life continues to have one of the widest reaches among new insurance companies with about 500 branches in India touching customers in over 900 cities and towns.The company has also established a liaison office in Dubai. HDFC Life has a strong presence in its existing markets with a strong base of Financial Consultants

HDFC HDFC Life distributes its products through a multi channel network consisting of Insurance agents, [[Bancassurance]] partners ([[HDFC Bank]Life has about 500 branches in India with customers in over 900 cities and towns. The company has also established a liaison office in Dubai.<ref>{{cite news|title=HDFC Life launches first international operations in Dubai|url=http://articles.economictimes.indiatimes.com/2012-01-26/news/30666698_1_hdfc-lifestandard-life-policy-holders|accessdate=4 December 2013|newspaper=Economic Times|date=26 January 2012}}</ref> ], [[Saraswat Bank]], [[Indian Bank]]), Direct channel, Insurance Brokers & Online Insurance Platform

Products & Services

HDFC Life's product portfolio comprises solutions such as Protection, Pension, Savings, Investment, Health along with Children and Women plans. The company also provides an option of customizing the plans, by adding optional benefits called riders, at an additional price. The company currently has 37 retail and 8 group products in its portfolio, along with 9 optional rider benefits (as on 31st Oct 2013)[3]

Protection Plans - insurance plans that provide protection and financial stability to the family in case of any unforeseen events. Click2Protect is their online term plan. Health Plan offers financial security to meet health related contingencies. Savings & Investment plans - These plans help in investment to achieve financial goals Retirement plans - financial security for life post retirement Womens plans - plans catering to different financial needs of women Childrens plans plans meant to secure childrens future Rural & social Plans meant specifically for rural customers

Key people
The MD & CEO of the company is Amitabh Chaudhry, ED & CFO is Vibha Padalkar, Chief Actuary & Appointed Actuary is Srinivasan Parthasarthy, Prasun Gajri is the CIO & Rajendra Ghag heads the human resources as Chief HR Officer

Corporate History
The Insurance Regulatory and Development Authority (IRDA) was constituted in 1999 as an autonomous body to regulate and develop the insurance industry. The IRDA opened up the market in August 2000 with the invitation for application for registrations. HDFC Life was established in 2000 becoming the first private sector life insurance company in India.[5] By 2001, the company had its 100th customer, strenghtened its employee force to 100 and had settled its first claim. HDFC Life launched its first TV advertising campaign 'Sar Utha Ke Jiyo' in 2005. In 2006, a study conducted by the Brand Equity Economic Times had put HDFC Life at 29th rank in the most trusted Indian Brands amongst the Top 50 Service Brands of 2010.[6] The Insurance Regulatory and Development Authority (IRDA) gave accreditation to HDFC Life for 149 training centres housed in its branches to cater to the mandatory training required to be given as well as for other sales training requirements in 2009. In 2012, it the first private life insurance company to bring back pension plans under the new regulatory regime, with the launch of two pension plans - HDFC Life Pension Super Plus and HDFC Life Single Premium Pension Super.[7]

Associated Companies
HDFC Life's associated companies include HDFC Ltd, HDFC Bank, HDFC MF, HDFC Sales, HDFC Ergo, HDB Financial Services, HDFC Securities, HDFC RED, HDFC Ventures Trustee Company, GRUH Finance, HDFC Trustee Company, HDFC Developers, HDFC Property Ventures, HDFC Investments, Credit Information Bureau (India) Ltd.

Social Initiatives
Swabhimaan is HDFC Life's corporate social responsibility initiative to improve and enhance the quality of life of communities by helping to create an equitable society. Swabhimaan Careers: HDFC Life reaches out to their policyholders dependants and extends an opportunity to the dependants to send their applications to HDFC Life.[8] SOS childrens village project: HDFC Life partnered with SOS Childrens Villages to focus on holistic development of abandoned, destitute and orphaned children. The project, known as Swabhimaan supports the education of 300 children. Teach for India: HDFC Life has been partnering with Teach for India, a non-profit organization engaged in supporting education for underprivileged children. Since 2010, they have sponsored two employees each for the 2012-14 and 2013-15 Teach for India Fellowship programs. Payroll Giving: HDFC Life has implemented this initiative in partnership with GiveIndia, an organisation dedicated to help individuals donate to credible NGOs. This programme helps employees create a strong impact in the lives of the underprivileged through contributions. Financial Literacy project: HDFC Life has initiated a financial literacy project to educate and equip children (from grades 5 to 8) with financial knowledge to help them effectively manage their finances. The project was piloted in 2011 in partnership with Yuva Unstoppable across 25 municipal schools in Gujarat (Ahmedabad, Baroda &Surat). HDFC Life has educated more than 12,000 children through this project since 2011

References
1. 2. Jump up^ "Standard Life plans to up stake in HDFC joint venture". Business Standard. 10 March 2010. Retrieved 8 December 2013. Jump up^ "HDFC Life launches first international operations in Dubai". Economic Times. 26 January 2012. Retrieved 4 December 2013. 3. 4. 5. 6. 7. 8. Jump up^ offered >> Life Insurers "HDFC Life on IRDA". IRDA. Retrieved 4 December 2013. Jump up^ "Bloomberg Businessweek". Retrieved 31 August 2012. Jump up^ "History of IRDA". IRDA. Retrieved 4 December 2013. Jump up^ "Top 50 Service Brands". Economic Times. 31 August 2010. Retrieved 4 December 2013. Jump up^ "HDFC Life launches two pension plans in June". Money Control. Retrieved 4 December 2013. Jump up^ "HDFC Life launches Swabhimaan Careers for deceased policyholders' family". Business Standard. 27 May 2013. Retrieved 4 December 2013. 9. 10. 11. 12. 13. 14. Jump up^ "HDFC Bags IMC RBNQA". Business Standard. 23 March 2011. Retrieved 31 August 2012. Jump up^ "HDFC Bags Best Innovation Award 2011". Business Standard. 9 June 2011. Retrieved 31 August 2012. Jump up^ "Golden Peacock Awards". Golden Peacock. Retrieved 4 December 2013. Jump up^ "Asian Leadership Awards". Asian Leadership Awards. Retrieved 4 December 2013. Jump up^ "CIO". CIO. Retrieved 4 December 2013. Jump up^ "HDFC Life Receives National Award for Excellence in Cost Management". Business Wire India. Retrieved 4 December 2013. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. Jump up^ "Employer Branding Awards". Retrieved 5 December 2013. Jump up^ "CMO BRANDING AND MARKETING AWARD Report 13". CMO Asia. Retrieved 5 December 2013. Jump up^ "Great Places to Work". Retrieved 5 December 2013. Jump up^ "Business Wire India". Retrieved 5 December 2013. Jump up^ "Celent". Retrieved 5 December 2013. Jump up^ "Product of the Year 2013". Retrieved 5 December 2013. Jump up^ "Golden Peacock Awards 2012". Retrieved 5 December 2013. Jump up^ "CIO". Retrieved 5 December 2013. Jump up^ "Great Places to Work". Retrieved 5 December 2013.d 5 December 2013. Jump up^ "CISO Awards". Retrieved 5 December 2013. Jump up^ "Porter Prize". Retrieved 5 December 2013. Jump up^ "Money Control". Retrieved 5 December 2013. Jump up^ "Celent". Retrieved 5 December 2013. Jump up^ "Super Brands India 2011". Retrieved 5 December 2013. Jump up^ "AFAQS". Retrieved 5 December 2013. Jump up^ "MPhasis". Retrieved 5 December 2013

Vision & Values

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Values are the most critical elements that reflect the conduct of an organisation. Below is our vision and our values, the pillars that support the success of HDFC Life.

Vision The most successful and admired life insurance company, which means that we are the most trusted company, the easiest to deal with, offer the best value for money and set the standards in the industry.

'The most obvious choice for all'.

Values Our vision and values that we observe at work 1. 2. 3. 4. 5. 6. Integrity Innovation Customer centric People Care "One for all and all for one" Team work Joy and Simplicity

Vision & Values

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Values are the most critical elements that reflect the conduct of an organisation. Below is our vision and our values, the pillars that support the success of HDFC Life.

Vision The most successful and admired life insurance company, which means that we are the most trusted company, the easiest to deal with, offer the best value for money and set the standards in the industry.

'The most obvious choice for all'.

Values Our vision and values that we observe at work 1. 2. 3. 4. 5. Integrity Innovation Customer centric People Care "One for all and all for one" Team work

6.

Joy and Simplicity

inancial Information (as on 31st March 2013)

Paid Up Capital Sum Assured AUM Solvency Ratio Rs 1995 Cr Rs 201858 Cr Rs 40108 Cr 217

Brief Profile of HDFC Life's Management Team

Mr. Amitabh Chaudhry Managing Director and Chief Executive Officer Mr. Amitabh Chaudhry is the MD and CEO of HDFC Standard Life Insurance Company Pvt. Ltd a joint venture between HDFC Limited (one of the largest professionally managed and diversified financial conglomerates in India) and Standard Life Plc of UK. He has been with the company since January 2010. HDFC Standard Life is today recognized as the premium brand in the insurance space and is one of the Indias la rgest private insurers. Before joining HDFC Standard Life, he was the MD and CEO of Infosys BPO Ltd and was also heading the Testing unit of Infosys Technologies Ltd. He played a critical role in building the BPO company from its inception to an extremely profitable business with presence in eleven centers across seven countries. He started his career in 1987 with Bank of America and worked in diverse roles ranging from Head of Technology Investment Banking for Asia, Regional Finance Head for Wholesale Banking and Global Markets and Chief Finance Officer of Bank of America (India). He moved to Credit Lyonnais Securities in 2001 where he headed their investment banking franchise for South East Asia and structured finance practice for Asia before joining Infosys BPO in 2003. Mr. Chaudhry completed his Engineering in 1985 from Birla Institute of Technology and Science, Pilani and MBA in 1987 from IIM, Ahmedabad. He also serves on the Board of Manipal Global Education Services Limited a market leader in corporate and college education in various emerging markets and Shriram Transport Finance Co Ltd one of the largest Non Banking Auto Finance companies in India.

Ms. Vibha Padalkar Executive Director and Chief Financial Officer Ms. Vibha Padalkar is Executive Director and Chief Financial Officer at HDFC Life. Ms. Padalkar joined HDFC Life in August 2008 after a seven year stint as Executive Vice President-Finance at WNS Global Services; a NYSE listed leading global business process outsourcing company. Vibha's key achievement during her tenure at WNS was to lead a team that successfully completed the Group's IPO on the New York Stock Exchange in a short span of six months. Prior to WNS, Vibha was with Colgate Palmolive India, including a short posting to the group's New York headquarters. Ms. Padalkar became a member of the Institute of Chartered Accountants in England and Wales in 1992, after having completed the last part of her schooling as well as college education in London. She is also a member of the Institute of Chartered Accountants in India. Apart from leading the finance, internal audit, compliance, risk management, legal and secretarial teams, Vibha has taken additional responsibility during the year of hub operations,claims and payouts, underwriting and medical operations

Mr. Srinivasan Parthasarathy Chief Actuary and Appointed Actuary Mr. Srinivasan Parthasarathy is the Chief Actuary and Appointed Actuary of HDFC Life. Mr. Parthasarathy joined HDFC Life in 2011 from Canara HSBC Life Insurance with 18 years of experience in Life Insurance and Pensions in both India and the UK. He was one of the two candidates from Asia to be selected by the President of Institute of Actuaries, UK in the year 2000 to work for Watson Wyatt, UK, where he provided a range of consultancy services to clients on various aspects of company pension schemes. Then he moved on to work with Aviva UK where he worked in different areas including pricing, reporting and stochastic modelling, before being seconded to Aviva India. Amongst his key achievements at Aviva India were leading the transition from TEV to MCEV reporting. He qualified as a Fellow of the Institute of Actuaries, UK in 2004 and became a Fellow of the Institute of Actuaries of India in 2008.

Mr. Prasun Gajri Chief Investment Officer Mr. Prasun Gajri is the Chief Investment Officer of HDFC Life. Mr. Gajri joined HDFC Life in April 2009 with a rich experience of 14 years in investments and banking industry. He started his career in 1995 with Citibank and was associated with it for over 6 years delivering various roles. He joined Tata AIG Life Insurance Company in October 2001 to start the investment function and stayed there until April 2009, the last role being that of the Chief Investment Officer. He holds a PGDM from IIM Ahmedabad and is also a CFA Charterholder.

Mr. Rajendra Ghag Senior Executive Vice President & Chief Human Resource Officer Mr. Rajendra Ghag is the Senior Executive Vice President & Chief Human Resource Officer at HDFC Life. Mr. Ghag joined HDFC Life in September 2009 and has been spearheading the Human Resource function since then. Before HDFC Life, he was associated with DHL Express as Head of HR for India and Senior Advisor - Quality and Processes (First Choice Programme) for South Asia. He was one of the important members of the board and has travelled extensively across the globe as a trainer as well as a participant of various management conferences. He is also a certified Change Management trainer and considers People Engagement as his forte. He holds a Masters Degree in Personnel Management apart from his degree in Commerce and Law.

Mr. Sanjay Tripathy Senior Executive Vice President Mr. Sanjay Tripathy is the Senior Executive Vice President responsible for Marketing, Product and Direct Channels at HDFC Life. Mr. Tripathy joined HDFC Life in 2004 and has been responsible for Direct Sales Channels, Marketing Strategy, Brand Planning, Advertising, Communication & Media, Customer Insights, New Product Development, Product Life Cycle Management, Online and Digital Strategy, ECommerce, Customer Analytics, & Corporate communication. He started his career with GCMMF Ltd. in 1992. Since then he has worked with various reputed organizations like Frito-Lay (PepsiCo), Mattel and Reliance Infocomm before moving on to his current role at HDFC Life. He has featured in Campaign India The A list 2009, 2010, 2011, 2012 and 2013 of most influential people in Media, Marketing and Advertising apart from winning several other awards. He is a management graduate from IRMA and is a Board Member at Media Research Users Council (MRUC), an Advisory Board member at DMAi (Direct Marketing Association - India) and a member of the Awareness Subcommittee of the Life Insurance Council.

Mr. Subrat Mohanty Executive Vice President Mr. Subrat Mohanty is the Executive Vice President responsible for Strategy, Customer Relations, Persistency and Technology at HDFC Life. Mr. Mohanty joined HDFC Life in 2010 and has led the strategic themes and transformation initiatives of the organization during a fast changing industry environment. Prior to assuming this role, he was the Strategic Business Unit (SBU) Head at Infosys BPO where he spent 8 years building the business from scratch. He was part of the leadership team that successfully helped scale the BPO business from its inception in 2002 to US$ 400 Million in 2010-11. He started his career in 2000 as a management consultant at Andersen Consulting (now Accenture), India with a focus on business process reengineering and supply chain management. He holds a bachelor's degree in Mechanical Engineering from NIT Rourkela and an MBA from Indian Institute of Management, Calcutta.

Mr. Sanjeev Kapur Executive Vice President Mr. Sanjeev Kapur is the is the Executive Vice President of HDFC Life. At HDFC Life, Mr. Kapur heads the Institutional Sales and HNI Sales functions. He has been associated with HDFC Life since inception. Prior to HDFC Life, he worked with various international banks in India and overseas in different functions like treasury, liability management, operations, corporate and investment banking. Mr. Kapur is A.C.A from Institute of Chartered Accountants.

Mr. Suresh Badami Chief Distribution Officer Mr. Suresh Badami is the Chief Distribution Officer at HDFC Life. Suresh joined HDFC Life in October 2013 with a rich experience of 19 years across various industries and over a decades expe rience in Banking. Prior to joining HDFC Life he was with ICICI Banks retail division. Before that he has worked with organizations like ICI India Ltd. and Dunlop. Suresh is a science graduate from Bangalore and holds a management degree from XIM -Bhubaneswar. Quick Info

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Received a Silver award at Express IT Awards 2013 HDFC Life was honoured with a Silver Award for IT Innovation (Large Enterprise) at the Express IT Awards 2013 for our point of sale project Click2Buy.

Won an award at the 7th SAP ACE Award HDFC Life won the 7th edition of SAP ACE Award for Customer Excellence 2013 in the category of Best Run Award in Budgeting, Planning & Consolidation. This award is in recognition of the business excellence that HDFC Life has achieved through best implementation of SAP.

Honoured with Golden Peacock Award for HR Excellence HDFC Life was honoured with the prestigious Golden Peacock HR Excellence award in private life insurance sector at a specially organized 'Golden Peacock Awards Nite'. Golden Peacock Awards, instituted by the Institute of Directors, India in 1991, are regarded as a benchmark of Corporate Excellence worldwide.

Received TISS-Leap Vault CLO Award HDFC Life received TISS-Leap Vault CLO Award in Program for Sales Enablement category. The awards and the summit together represent Indias finest corporate learning & talent management professionals in organization and leadership development.

Honoured at Asian Leadership Award 2013 HDFC life has been honoured with an award for Brand Excellence in Effective Communication at the Asian Leadership Award 2013, Dubai. This event highlights, recognises and rewards a companys ability to steer their businesses applying the best of business modules.

Featured in the list of 'Top 25 Best Places to Work for 2013' HDFC Life ranked 18th in the list of Top 25 Best Places to Work for in a study conducted by Great Place To Work institute, India in partnership with Economic Times. HDFC Life has also been ranked No. 1 in Insurance industry and 3rd in Best Company in large organizations (more than 10,000 employees).

HDFC Life receives the 2013 CIO100 Award HDFC life has been awarded the CIO100 Award at the 8th annual CIO100 awards. HDFC Life also received the Information Mastermind Special Award.The annual award program recognized organizations for being imaginative and innovative with their IT deployments in difficult economic conditions.

Winner at the 10th National Award for Excellence in Cost Management HDFC Life was recently adjudged as a winner in Private Service Sector (Large Organisations) category at the 10th National Award for Excellence in Cost Management held in New Delhi.

Awarded at Asias Best Employer Brand Awards 2013 Amitabh Chaudhry, HDFC Lifes MD & CEO received CEO with Best HR Orientation award and Vibha Padalkar, HDFC Lifes ED & CFO received Women at Work Leadership award at the Asias Best Employer Brand Awards 2013.

Honoured at SABRE India Awards 2013 HDFC Life was honoured with two awards at the SABRE India Awards 2013 - Winner : Gold SABRE Awards for Excellence in Public Relations Programming under Financial & Professional Services category and Runners up: Gold SABRE Awards for Excellence in Public Relations Programming under Financial Communications category.

Received 4 awards at the 4th CMO Asia Awards for Excellence in Branding and Marketing At the 4th CMO Asia Awards for Excellence in Branding and Marketing, HDFC Life received 4 awards - Award for Brand Excellence (Banking, Financial Services & Insurance Sector), Marketing Campaign of the Year for Director of Happiness campaign, Award for Best Use of Social Media in Marketing and Marketing Professional of the Year.

Winner at CIO 100 Award 2013 HDFC Life has been recognized by CIO magazine as a 2013 CIO 100 Award Winner for its innovative Point of Sale tool CLICK2BUY. The 26th annual international award program recognizes organizations around the world that exemplify the highest level of operational and strategic excellence in information technology (IT).

Received Top 100 CISO Award 2013 HDFC Life received the prestigious Top 100 CISO Award 2013 for incorporating and implementing innovative information security solutions to assist customers to confidently and securely transact with HDFC Life at various touch points. The 'Top 100 CISO Awards' is envisioned by InfoSecurity Magazine partnering with iViZ Security.

Received D.L. Shah Quality Award 2013 HDFC Life received the D.L. Shah Quality Award for case study on "Re-Cycling Customer Payouts". The QCI-DL Shah Quality Awards have been instituted with a view to promote awareness that performance improvement through quality initiatives is an important element for gaining a competitive edge.

Honoured with Best CFO Award 2013 Vibha Padalkar, HDFC Life's ED & CFO was honoured with Best CFO Award at IMA India's the India CFO Awards 2013 for Excellence in Financial Control, Compliance and Corporate Governance.IMA India instituted The India CFO Awards to recognise distinction in finance and honour those individuals who have demonstrated outstanding capabilities and achievements.

Won a Gold in the 'Integrated Media Campaign of the Year by a Brand' HDFC Life's Activation Campaign for its Smart Woman plan- Models of Happiness won a Gold in the Integrated Media Campaign of the Year by a Brand category at WOW awards 2013. WOW Awards is an initiative of Event FAQS and was conceptualized in 2008 as the industry b enchmark for excellence in brand experience creation.

Recipient of Women Leadership Excellence Award 2013 HDFC Life's ED & CFO, Vibha Padalkar was honoured with 'Women Leadership Excellence Award' at the 2nd IPE Banking Finnancial Sservices And Insurance (BFSI) Awards. The IPE BFSI Awards is organized to recognize the Best performances in the Banking, Financial services and insurance sector.

Received 2 awards at the Indian PR and Corporate Communications Award 2013 HDFC Life received two awards at the Indian PR and Corporate Communications Award 2013 - Best Campaign in the Financial Services Sector for 'driving financial freedom for Indian urban women.' and Best In House Team of the Year for effectively 'driving financial freedom among Indian urban women.'

Honoured with ASTD Excellence in Practice 2012 citation HDFC Life has been honoured with ASTD Excellence in Practice 2012 citation for 'Improving First Level Sales Manager ( FLS ) Productivity', in the Sales Enablement category. ASTD (American Society for Training & Development) is the worlds largest professional association dedicated to the training and development field.

Recognized as Celent Model Insurer of Asia for the Year 2013 HDFC Life has been recognized as the Celent Model Insurer of Asia for 2013, the highest honor among the 17 technology initiatives which are selected as Model Insurer Component in the Asia Pacific region. The company has also received two Model Insurer Component awards namely Model Insurer Award in the area of Underwriting and the other in Distribution/New Business.

HDFC Life Smart Woman Plan voted as 'Product of the Year 2013' HDFC Life Smart Woman Plan has been voted as 'Product of the Year 2013' under Life Insurance Category. The innovative features of HDFC Life Smart Woman Plan (first ULIP in India specially designed for women to take care of her critical life stage needs - motherhood, diseases that women are prone to certain ages as cancer or loss of spouse) helped us to win this prestigious award.

Corporate Agents and Bancassurance Partners

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HDFC Life has an extensive set of Corporate Agents and Bancassurance Partners. They support us in reaching to a wider number of customers. This section will give you a list of our Corporate Agents and Bancassurance Partners.

Bancassurance Partners

HDFC Life Group Pension Plan

HDFC Life Group Pension Plan is a non-linked participating variable insurance plan. It is an effective investment solution to manage and build an employee superannuation benefit fund.

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HDFC Life Group Pension Plan is a non-linked participating variable insurance plan. It is an effective investment solution to manage and build an

employee superannuation benefit fund. Effective way to build an employee superannuation benefit fund Option to setup the policy with a single policy account or with individual member level accounts Flexibility to pay premiums regularly or as single premium

Advantages

Build a retirement corpus for the individual members Guaranteed minimum floor rate of 0.5% for the entire term of the policy Bonus credited at the end of every financial year Ease of claim settlement

HDFC Life Group Variable Employee Benefit Plan

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The HDFC Life Group Variable Employee Benefit Plan is a non-participating variable insurance plan wherein the company/trustee is the policyholder & employees are the scheme members. The plan offers a flexible & cost effective way to build a corpus to fund all future financial needs of employees.

Features

Guaranteed Minimum Return of 1% per annum for the entire term of the policy Additional interest rate declared by us at the start of every financial quarter Income Tax Benefits to you and your employee as per applicable tax laws Choice of individual member level account in case of superannuation scheme

Advantages

This product is flexible, transparent and is designed to achieve the objectives of managing the Gratuity, Leave Encashment, Superannuation and other employee benefit schemes in the most efficient manner.

HDFC Life Group Unit Linked Insurance Pension Plan

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HDFC Life Group Unit Linked Pension Plan aims to provide the trustees a flexible solution for managing superannuation obligations. This plan is flexible, transparent and is designed to achieve the objectives of managing the superannuation schemes in cost efficient manner.

Features

1. 2.

Effective way to build employee superannuation benefit fund Option to establish the policy With a single policy account or With individual member level accounts Provides assured benefit Range of investment options to choose from

Advantages

New members/employees can join at any well defined date as per the rules of the scheme with the policyholder Return Protector options gives minimum guarantee along with an upside Life Stage based fund allocation depending on the number of years to retirement

HDFC Group Term Insurance Plan

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Whatever the business it's the people who make it a success. Everybody requires some type of life insurance, especially when others depend on them financially. HDFC Group Term Insurance (GTI) plan meets this need and serves as an ideal way for employers to reinforce their bond with their employees. The sort of needs, you, as an employer need to cater to could be in form of "Employee benefits","Cover for housing or vehicle loans given by you to your employees".

Features

1. 2. 3. 4. 5. 6. 7. 8.

The HDFC group term insurance plan will have the following structure: Provides life cover to groups of people One master policy covering all members of the group Annually renewable term insurance plan Addition of members anytime during the year Sum assured payable to nominee on death of the covered member Employees can be additionally covered by riders e.g. accidental/ critical illness / disability Inbuilt Terminal Illness benefit Simplified enrollment process

Advantages

1. 2. 3. 4. 5. 6. 1. 2. 3. 4.

Benefits To employer Life cover for all the group members under one policy. Easy and hassle free financial help to the employee's family, in case of an unfortunate event Cost-effective method to buy a high cover at a low premium Serves as strong retention tool Premiums paid by the employer are treated as normal business expenses for Income Tax purposes Simple procedures for addition and deletion of members in to the policy Benefits To employee Adequate financial support to loved ones against his accident, illness or untimely death Convenience of no medical tests till free cover limits Premiums paid by the employer not treated as perquisite Death benefits exempt from tax under Section 10(10D)

HDFC Group Variable Term Insurance Plan

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The Group Variable Term Insurance is a custom made policy for third party institutions. With this plan you can provide insurance cover to your cherished customers.

Features

On death, sum assured will be paid as lump sum The sum assured varies over time so your customer gets the cover that they need Simple to administer

Advantages

1.

Benefits to both you and your customers Cost-effectiveness of the premiums Financial security to your customers family

HDFC Life Group Credit Protect Insurance Plan

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The HDFC Life Group Credit Protect is a solution for financial institutions who want to lighten loan repayment burden of borrowers family- in case of death or illness.

Features

1. 2. 3.

Additional payment to family in case of death due to accident Premium rate depends on Demographic distribution reflected by the financial institution Type of loan Nature of insurance cover Hassle free process to join - simple to administer Single Premium plan Choice of covers - level or reducing

Advantages

Comprehensive protection against various types of loans Financial institutions can minimize the non - loan repayment burden Insurance benefit will enable in lightening the financial burden on borrowers family

HDFC Life Group Credit Protect Plus Insurance Plan

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The HDFC Life Group Credit Protect Plus Insurance Plan is a tailor made insurance policy for members of financial institutions. In event of death, disability or illness of the insured member(s), it will protect their families from the burden of repaying the outstanding loan to the financial institution.

Features

A comprehensive benefit plan which offers financial protection in event of death, disability and critical illnesses Flexibility to choose plan options. Option of decreasing and level cover Flexibility to choose loan cover term subject to a maximum of 30 years Just pay one time with single premium Coverage available on Single and Joint life basis A moratorium of 1 to 7 years wherein level cover is offered during the moratorium period Member can opt for coverage term lesser than loan tenures We offer to cover top-up loans through separate repayment schedule

Advantages

A comprehensive group policy with 6 plan options Has no lengthy underwriting procedure Is simple to administer

Company Profile
HDFC Ltd. holds 72.37% and Standard Life (Mauritius Holding) Ltd.
holds 26.00% of equity in the joint venture, while the rest is held by others.

HDFC Life has been awarded the best private life insurer at the CNBC TV18 Best Bank and Financial Institutions Awards 2012 by Dr. C.Rangarajan, Chairman of the Prime Minister's Economic Advisory Council. Further, it is ranked among the top 50 Indian companies consecutively for three years in a 'Great Places to Work' survey conducted by Economic Times. Launched in the year 2000, which marked the entry of private insurers, we have moved from strength to strength literally leaving our mark with footprints over 600 cities and towns in India. Our growth engine is driven by more than 16,000 committed employees, who take pride in working for HDFC Standard Life, combined with a distribution channel with over 2,00,000 customer centric financial consultants and equally strong channel partners in private and public sector banking. While focusing on growth, we foster a learning culture aimed at creating thought leadership in the industry.

Protection Plans by HDFC Life

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Protection plans are typically low cost insurance plans that provide full protection and financial stability to your loved ones in case of any unforeseen events. HDFC Life presents a variety of Protection plans according to your various needs.

Type

Private company

Industry

Insurance Services

Founded

2000

Founder(s)

Hasmukhbhai Parekh

Headquarters

Mumbai, India

Area served

India

Key people

Mr. Amitabh Chaudhry, Ms. Vibha Padalkar

Products

Insurance

Employees

16,000

Website

www.hdfclife.com