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HDFC term plan with return of premium provides maturity benefits in the form of a refund of all the premiums paid towards the policy at the maturity of the policy term. In case of death during the policy term the insurer will pay the sum assured as a death benefit, and the policy will terminate. Along with these death and maturity benefits, the plan also provides tax benefits.
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HDFC Life Insurance offers several term insurance with return of premium plans that return the premiums paid throughout the policy term at the end of the policy tenure as maturity benefits. With this total premium refund payout at the policy's maturity, you can fulfil your future financial goals, like taking care of retirement or paying for your child's future education, while ensuring that you are protected for the required tenure.
Note: It is suggested that you learn more about what is term insurance, before selecting the right type of life insurance for yourself.
Term Plans
Let us understand how HDFC term insurance with return of premium works with the help of an example:
Karan, a healthy, non-smoking male, buys a 1 crore term insurance with a return of premium benefit for a 30 year policy term. Suppose Karan suffers an untimely death during this 30 year policy term, the insurer will pay the entire 1 crore sum assured to his family, and the policy will terminate.
If Karan outlives the policy term, then he will be eligible to receive the total premiums paid towards the policy. This return of premiums will exclude the applicable GST, loading premiums, rider premiums, and any other nominal charges that may have been applied. However, it is suggested that you check with the HDFC Life Insurance company, to see the exact T&Cs of the return of premium benefit.
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The HDFC term plan with return of premium offers the following benefits:
Financial Protection for Family: The HDFC term plan with return of premium provides financial protection to your loved ones in the form of death benefit in your absence.
Return of Premium Benefits: HDFC life insurance company understands that many individuals want the maturity benefits of life insurance plans at the affordability of term insurance plans, and thus offer term insurance with return of premium benefits.
Affordable Premiums: Even though the premiums for a TROP plan are slightly higher than regular term insurance plans, the premiums are still much more affordable than other types of life insurance.
Peace of Mind: A term insurance provides you with the peace of mind of knowing that your family will be financially protected in the event of your unfortunate demise during the policy term.
Tax Benefits: You can claim term insurance tax benefits under sections 80C and 10(10D) of the Income Tax Act, 1961, as per the prevailing tax laws.
Let us take a look at the features of this type of life insurance plan:
Income Replacement Benefits: The income replacement benefits of the HDFC term plan with return of premium allow customers to choose the ideal payout of the death benefit like monthly payout, lump sum payout, or increasing payout.
Flexible Policy Term: You can choose the most suitable policy term for your HDFC term insurance policy and find the policy tenure that covers your dependents until they are financially secure.
Customisable Sum Assured: Most life insurance providers offer life-stage benefits, which allow you to increase the sum assured at a later stage to fit your ever-evolving needs.
Long Term Coverage: You can get coverage with a term insurance plan for your whole life i.e., till 99/100 years of age. This way you can guarantee the death benefits for your family in your absence with a whole life insurance policy.
Convenient Premium Pay Term: Choose to pay the premiums in a regular, limited, or single premium pay term, in a monthly, quarterly, annually, or bi-annual premium pay mode.
Note: It is suggested to calculate the term plan premium on the term insurance calculator online tool by Policybazaar before buying.
Here is a list of individuals who can buy HDFC term insurance with return of premium benefits:
| Type of Individuals | How It May Benefit Them |
| Salaried Individuals | Offers financial protection for their family in case of death while returning premiums if they survive the policy term. |
| Self-employed Professionals | Provides coverage without compromising on family’s financial security, along with the benefit of returned premiums at maturity. |
| Young Individuals | Affordable premiums for long-term coverage with the advantage of premium return, offering peace of mind and tax benefits. |
| Parents | Ensures the financial security of children and family, with premium returns acting as a form of maturity benefits for future needs. |
| People with Loans/EMIs | Helps safeguard the repayment of loans and financial obligations for your family in your absence. |
| Individuals nearing retirement | Provides financial protection with the added benefit of premium returns, making it a good insurance tool for retirement. |
* You can use the HDFC term insurance calculator to see the premiums applicable for your profile.
Here is how you can buy the HDFC term plan with return of premium plans online via Policybazaar:
Step 1: Visit the term insurance with return of premium page of Policybazaar
Step 2: Fill in your name, gender, contact information, and date of birth
Step 3: Select the right smoking habit, educational qualifications, annual income, and occupation type
Step 4: Choose the best term insurance plan for your needs and proceed to pay
Note: Check all the best term insurance plan in India.
Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
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