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Life is beautiful, but also uncertain. Whatever you do, however smart and hard you work, you are never sure what life has in store for you. It is therefore important that you do not leave anything to chance, especially ‘life insurance’. So know it better over here and secure your life at the earliest.

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Our vision is to provide innovative and customer-centric insurance plans that can help our customers secure their family's future as well as help them with other benefits such as tax savings. Keeping this in mind we offer a large range of life insurance plans such as term insurance plan, women's plan, health insurance plans, pension plans for retirement planning, child education plans, ULIPs, Savings plans. Most of these life insurance policies are available online, so buy one today and Sar Utha Ke Jiyo!.

As per regulatory changes, it is mandatory to submit PAN/Form 60 (if PAN is not available) for your policy with immediate effect. Please update via My Account/[email protected]/18602679999/HDFC Life branch. Ignore if already submitted.

HDFC Life Insurance Company Limited. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.

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HDFC Life Insurance Company Limited,

Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Tel No: (022)67516666.

The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited and is used by HDFC Life under a licence/agreement
For more details on risk factors, associated terms and conditions and exclusions, please read the sales brochure carefully before concluding a sale. ARN: EC/06/2017/9792

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Taking an Informed Decision - HDFC LIfe'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'ULIP plan offers dual benefit, term insurance, and investment which helps to achieve short-term or long-term financial targets, to know more browse online.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'life insurance plans, best ulip plans, benefits of ulip plan, ulip policy benefits, benefits of life insurance, top ulip fund'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': ''}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'plan disclaimer', 'slug': 'plan-disclaimer', 'value': 'In this Policy, the investment risk in the investment portfolio is borne by the policyholder.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'Header 1 Tag', 'slug': 'header-1-tag', 'value': 'Unit-linked insurance plan - taking an informed decision'}, 'validations': {}}], 'banner_image': {'alt': {'en': ''}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/Article_08_-_July_-_Understanding the latest trends in endowment benefits.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Article_08_-_July_-_Understanding the latest trends in endowment benefits_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Article_08_-_July_-_Understanding the latest trends in endowment benefits_tile.jpg', 'id': 'WQkAFIdLJlFSDnj', 'url': 'https://brandsite-static.hdfclife.com/media/image/Article_08_-_July_-_Understanding the latest trends in endowment benefits.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Article_08_-_July_-_Understanding the latest trends in endowment benefits_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Article_08_-_July_-_Understanding the latest trends in endowment benefits_tile.jpg', 'slug': 'unit-linked-plan-taking-an-informed-decision', 'tags': ['Insurance Basics', 'Investment', 'Child', 'Tax', 'Retirement', 'Health'], 'url': '/insurance-knowledge-centre/about-life-insurance/unit-linked-plan-taking-an-informed-decision', 'content': '<p align="justify">Today, insurers have a wide array of products for the investors that suits their age, goals, risk capacity and other things. It is necessary to invest in a scheme that goes in sync with your targets, short-term or long-term. Targets can be buying a home, car, education marriage, traveling across the planet or any other.</p>\n\n<p align="justify">Life insurance caters to many benefits at the same time, be it retirement, deduction under Income Tax Act or providing financial support at the time of any medical emergency. A lump sum amount is given to the investor at the time of maturity or death, in lieu to the monthly premiums paid.</p>\n\n<p align="justify">Many products are there to invest, but <a href="https://www.hdfclife.com/savings-investment-plans/click-2-invest-ulip-plan">Unit Linked Insurance Plan (ULIP)</a> is an attractive option. It is a long-term investment option, which is pocket friendly and comes handy at the time of retirement of the investor. This tool helps to invest in the share market, and if all goes well then investor might end up reaping good profits.</p>\n\n<p align="justify">ULIP plans offer dual benefit of term insurance and investment. Not only do you get term coverage which can help in financial safeguarding at the time of death, but you also get an opportunity for wealth creation, to meet your targets in the future.</p>\n\n<h2>Working style of unit-linked plan</h2>\n\n<p align="justify">There are generally two phases in ULIPs or any other market linked instrument:</p>\n\n<h3>Accumulation Phase:</h3>\n\n<p>In this phase, the investor pays premiums to the insurance company on monthly, quarterly or annually basis. The company invests the money into different funds.</p>\n\n<h3>Reaping Phase:</h3>\n\n<p>This is the phase, when the investors reap the fruits of the investment, through returns.</p>\n\n<h2>Benefits of ULIPs</h2>\n\n<p align="justify">There are certain benefits that an investor gets in order to create a wealth for future:</p>\n\n<ul>\n\t<li>\n\t<p align="justify">As ULIPs are market-linked investments, they can potentially offer good returns to the investor. It all depends on market performance.</p>\n\t</li>\n\t<li>\n\t<p align="justify">ULIPs have a wide variety of funds, from high to low risk. It helps in creating a diverse investment portfolio.</p>\n\t</li>\n\t<li>\n\t<p align="justify">The investment keeps growing with time. Investors can possibly get a good maturity amount at the time of retirement.</p>\n\t</li>\n</ul>\n\n<p align="justify"><a href="https://www.hdfclife.com/savings-investment-plans/click-2-wealth-ulip-plan?source=M-KC_MarketLinked_Sep19&utm_source=M-KC_MarketLinked&utm_medium=Content&utm_campaign=M-KC_MarketLinked_Sep19&prod=C2W&agentcode=00399206">Invest in ULIPs to meet your financial targets with HDFC Life Click 2 Wealth</a>.</p>\n\n<p><strong>ARN: ED/09/19/16025</strong></p>', 'title': 'Unit-linked plans - taking an informed decision', 'image': {'banner': 'WQkAFIdLJlFSDnj'}, 'excerpt': 'ULIP plan offers dual benefit, term insurance, and investment which helps to achieve short-term or long-term financial targets, to know more browse online.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 2164, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2019-07-22T05:56:00Z'}, {'id': 1266, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Planning to set up an independent venture? Secure your funds from associated risks'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Protection or say insurance against the risks is much needed. Here are seven ways to mitigate business risk in an efficient manner. To know more browse online.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'ulip plan, best life insurance policy, investment policy, savings and investment plan, best saving plan, general insurance'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': ''}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'plan disclaimer', 'slug': 'plan-disclaimer', 'value': 'In this Policy, the investment risk in the investment portfolio is borne by the policyholder.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'Header 1 Tag', 'slug': 'header-1-tag', 'value': 'Planning to set up an independent venture? Secure your funds from associated risks'}, 'validations': {}}], 'banner_image': {'alt': {'en': ''}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/Article 47 - July - Planning to set up an independent venture Secure your funds from associated risks.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Article 47 - July - Planning to set up an independent venture Secure your funds from associated risks_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Article 47 - July - Planning to set up an independent venture Secure your funds from associated risks_tile.jpg', 'id': 'VwemByv4W0W6Cow', 'url': 'https://brandsite-static.hdfclife.com/media/image/Article 47 - July - Planning to set up an independent venture Secure your funds from associated risks.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Article 47 - July - Planning to set up an independent venture Secure your funds from associated risks_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Article 47 - July - Planning to set up an independent venture Secure your funds from associated risks_tile.jpg', 'slug': 'secure-your-funds-from-associated-risks', 'tags': ['Insurance Basics', 'Investment', 'Child', 'Tax', 'Retirement', 'Health'], 'url': '/insurance-knowledge-centre/about-life-insurance/secure-your-funds-from-associated-risks', 'content': '<p align="justify">Being into business always involves risks. Whether it is a start-up or an expansion or an established business, the risk is there. Here are seven ways to mitigate business risk in an efficient manner.</p>\n\n<h2><strong>Keep reserve cash</strong></h2>\n\n<p align="justify">Many businesses, especially ventures have a major risk of managing cash flow. The investor has to calculate the money needed to run the monthly operations and how long the money will last in case there are no receivables. A slowdown in accounts is not healthy either, so a calculation of total payments and outstanding amounts needs to be evaluated. Reserve cash and proper planning can help in avoiding the risk of low cash. If there is a cash crunch, then the business might have to be closed.</p>\n\n<h2><strong>Indemnification Clause</strong></h2>\n\n<p align="justify">There can be external forces which might cause great damage to the investor’s business. To avoid the same, indemnification is needed. For example, the business is into software distribution. The purchasing of the software is done from a vendor and it turns out that he/she is not authorized to do so and you also get sued by the rightful owner. In that case, indemnification can help in bail out.</p>\n\n<h2><strong>Invest money in capital building products</strong></h2>\n\n<p align="justify">Additionally, any businessman should not only safeguard the business by taking insurance he/she should also safeguard the future of the family. Investing in money making instruments like ULIPs can help the investor in securing the family and build capital for the future which can help at the time of emergencies. As ULIPs offer the dual benefit of insurance and capital building, it can benefit the investor in the long run. Say, if the business is facing a shortage of funds, then it can be managed by the profits made by an investor after investing in capital building products. These investments can serve as strong pillars during hardships and might change the situation completely.</p>\n\n<p align="justify">Losses can happen anytime! The best way is to prepare for them. Take insurance to safeguard yourself and your budding business from any hardship. <a href="https://www.hdfclife.com/savings-investment-plans/click-2-wealth-ulip-plan?source=M-KC_Business_Sep19&utm_source=M-KC_Business&utm_medium=Content&utm_campaign=M-KC_Business_Sep19&prod=C2W&agentcode=00399206">Check out HDFC Life Click 2 Wealth to know more.</a></p>\n\n<p><strong>ARN: ED/09/19/16026</strong></p>', 'title': 'Planning to set up an independent venture? Secure your funds from associated risks', 'image': {'banner': 'VwemByv4W0W6Cow'}, 'excerpt': 'Protection or say insurance against the risks is much needed. Here are seven ways to mitigate business risk in an efficient manner. To know more browse online.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 1725, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2019-07-22T05:56:00Z'}, {'id': 1258, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Things To Consider While Investing In Market-linked Instruments in India | HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'If an investor is new in the field of investment, then he/she must be mulling over the options of market-linked investment or fixed income investment. To develop a portfolio for a stable investment, Visit Now !'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'Market-linked Instruments in India, Market-linked Instruments, Fixed Deposit, long term investment'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': ''}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'plan disclaimer', 'slug': 'plan-disclaimer', 'value': 'In this Policy, the investment risk in the investment portfolio is borne by the policyholder.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'Header 1 Tag', 'slug': 'header-1-tag', 'value': ''}, 'validations': {}}], 'banner_image': {'alt': {'en': ''}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/Article 13 - July - Pros and cons of market-linked instruments in India.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Article 13 - July - Pros and cons of market-linked instruments in India_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Article 13 - July - Pros and cons of market-linked instruments in India_tile.jpg', 'id': 'VoUcgDJaR4DzqFv', 'url': 'https://brandsite-static.hdfclife.com/media/image/Article 13 - July - Pros and cons of market-linked instruments in India.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Article 13 - July - Pros and cons of market-linked instruments in India_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Article 13 - July - Pros and cons of market-linked instruments in India_tile.jpg', 'slug': 'things-to-consider-while-investing-in-market-linked-instruments-in-india', 'tags': ['Insurance Basics', 'Investment', 'Child', 'Tax', 'Retirement', 'Health'], 'url': '/insurance-knowledge-centre/about-life-insurance/things-to-consider-while-investing-in-market-linked-instruments-in-india', 'content': '<p align="justify">There are numerous approaches to put resources in the Indian markets. Different kinds of choices have different parameters and highlights. An investor should settle on a decision according to his/her necessities and inclinations. Investors have many available options to invest in, one is market-linked and another is fixed income options.</p>\n\n<p align="justify">If we look at the <a href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/compare-market-linked-fixed-income-plans">market-linked investment options,</a> they might offer better returns in the long run and are apt for investor who are ready to take a significant amount of risk. These investments are linked to the market, and there are risks associated with the market.</p>\n\n<p align="justify">Today, many investors are trying to grab opportunities in the market and managing risk at the same time. Ambitious investors who want to reap high profits in lesser time are investing in market-linked products, whether they are equity-linked, debt-linked or a mix of both. Inclination towards equity-linked products is more as the returns might end up being higher. But, if an investor wants to play safe, then these investment products may not be the right choice.</p>\n\n<p align="justify">Based on the financial objectives of the investors, investments can vary from short duration to long duration. In case of a <a href="https://www.hdfclife.com/insurance-knowledge-centre/retirement-planning/long-term-investment-guide">long term investment</a>, some risks can be managed because time-in-hand is more, but still chances of losses are still there. Fixed interest ventures always have an upper hand in such situation.</p>\n\n<p align="justify">While creating an investment portfolio, investors must opt for fund diversity to have security and growth at the same time. Investors should keep a mix of securities and funds to keep the chances of high profits.</p>\n\n<p align="justify">If we talk of fixed income plans, these do not offer any kind of market leverage because the mode of operation is to keep the principal amount safe and provide growth in the safest manner possible.</p>\n\n<p align="justify">Investors who have fund safety as the top priority can invest in fixed income plans. In these type of plans, the returns are fixed and stable till maturity. Some of the common fixed income investment options are different kinds of Government bonds, Company Bonds and Municipal Bonds, Debentures, Bank Fixed Deposit (FD) and Commercial Papers (unsecured debts).</p>\n\n<p align="justify">If an investor is new in the field of investment, then he/she must be mulling over the options of market-linked investment or fixed income investment. A good portfolio can be a mixture of both options to increase the chances of good returns in the long run. If the investor is successful in developing such a portfolio, then there will be a bright chance to understand the financial needs and at the same time protect the initial capital.</p>\n\n<p align="justify">HDFC Life Click 2 Wealth helps you <a href="https://www.hdfclife.com/savings-investment-plans/click-2-wealth-ulip-plan?source=M-KC_Market_Oct19&utm_source=M-KC_Market&utm_medium=Content&utm_campaign=M-KC_Market_Oct19&prod=C2W&agentcode=00399206">develop an investment portfolio along with a life cover.</a></p>\n\n<p align="justify"><br />\n<b>ARN: ED/09/19/15785</b></p>', 'title': 'What to consider while investing in market-linked instruments in India', 'image': {'banner': 'VoUcgDJaR4DzqFv'}, 'excerpt': 'If an investor is new in the field of investment, then he/she must be mulling over the options of market-linked investment or fixed income investment. To develop a portfolio for a stable investment, Visit Now !', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 1729, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2019-07-22T05:56:00Z'}, {'id': 1246, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Getting term plan insurance helps your loved ones by planning for the unplanned'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Being there for people you care about is securing their future even if you’re absent. Getting a term insurance plan, like Hiral’s friend did, can help to provide that necessary protection. To know more browse online.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'health insurance policy, health insurance plans for family, medical insurance policy, medical insurance plans, buy health insurance'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': ''}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'plan disclaimer', 'slug': 'plan-disclaimer', 'value': ''}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'Header 1 Tag', 'slug': 'header-1-tag', 'value': 'Be there for your loved ones by planning for the unplanned'}, 'validations': {}}], 'banner_image': {'alt': {'en': ''}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/Images_0001_Hiral.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Images_0001_Hiral_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Images_0001_Hiral_tile.jpg', 'id': 'iN2IYgucLgpmrFT', 'url': 'https://brandsite-static.hdfclife.com/media/image/Images_0001_Hiral.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Images_0001_Hiral_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Images_0001_Hiral_tile.jpg', 'slug': 'in-absence-term-plan-insurance-for-the-unplanned', 'tags': ['Insurance Basics', 'Investment', 'Child', 'Tax', 'Retirement', 'Health'], 'url': '/insurance-knowledge-centre/about-life-insurance/in-absence-term-plan-insurance-for-the-unplanned', 'content': '<p><b>Hiral Malde Shah</b>, 34, describes how she made considerable efforts to help people during the Mumbai monsoons, and why everyone should rise up to contribute in difficult situations.</p>\n\n<p>“I have the experience of working at radio stations for around five years now. As a producer at Fever 104 FM, I always ask my radio jockeys to put out social messages that could help our listeners in any way possible.</p>\n\n<p>I believe that as a member of the media, we have a responsibility to keep people informed and must do our bit to make a difference in society. For instance, during the 26/11 attacks on Mumbai in 2008, I remember going out on the field and relaying updates about the situation at a time when a lot of folks were holed up in their home, afraid to step out.</p>\n\n<p>So, when I first saw some posts on social media about people stuck in the rains and a few others who were offering help, I decided to join hands with them and do my bit to contribute to the effort.</p>\n\n<p>We first sent out messages on air that if anybody was stuck in Lower Parel, they could drop in to our office for some chai-samosa. A few walked in as well and spent time with us. Once the rain abated, we realised that a few of them didn’t have any rain protection. So we gave them umbrellas that we usually hand out to our contest winners, hoping that it would help them get home safely.</p>\n\n<p>Once home, I decided to send out the same message through my personal accounts, letting people know that my door was open to anyone who was stuck. It was even more critical because I live around the Wadala-Matunga area, which is low-lying and is prone to flooding on regular occasions. Even on the days that it didn’t rain too heavily, I sent out messages since I believe the prevention is better than cure.</p>\n\n<p>On one of the days, I received a message from a gentleman who was stuck near Wadala station. All trains had been cancelled, so I offered to come fetch him since my house is not too far off. But by the time I got there, he called to thank and inform me that he had managed to find some transport. Another day, I had a couple of interns who were stuck a short distance from where I live. This time around, I stepped out to get them and brought them home.</p>\n\n<p>I believe that these are the times we can do our bit as citizens and should contribute in whatever little way that we can. And you never know how a simple post could help someone who’s having a terrible day. Many things in life are unplanned, and as my experiences show, anything can happen to anyone, whether it’s you or the people you care about. Which is why you should always think about how you are going to be of any help for your loved ones when you are not around? This is why my next investment is going to be in a <u>term insurance plan</u>.</p>\n\n<p>I lost a friend about three years ago. He had bought term insurance and his mother is covered by it today, and I couldn’t be happier. It’s important to have a good understanding of what it takes to secure your future in the long run.”</p>\n\n<p>Helping out others in times of crisis is what makes us human. A big part of being there for people you care about is securing their future even if you’re absent. Getting a <a href="https://www.hdfclife.com/term-insurance-plans"><u>term insurance plan</u></a>, as Hiral realised, can help provide that necessary protection.</p>\n\n<p><strong>ARN: ED/08/19/15360</strong></p>', 'title': 'Be there for your loved ones by planning for the unplanned', 'image': {'banner': 'iN2IYgucLgpmrFT'}, 'excerpt': 'Being there for people you care about is securing their future even if you’re absent. Getting a term insurance plan, like Hiral’s friend did, can help to provide that necessary protection. To know more browse online.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 1634, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2019-07-22T05:56:00Z'}, {'id': 1211, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Wealth building should be practiced as soon as one starts working for efficient savings helping you achieve your financial goals. To know more about wealth creation, Visit Now!'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Tips to build wealth efficiently for salaried person | HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'wealth buildings, wealth creation, tips on wealth creation, wealth creation tips, how to create wealth, how to build wealth'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': ''}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'Header tag 1', 'slug': 'header-tag-1', 'value': 'Wealth-building for salaried persons: the way ahead'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'plan disclaimer', 'slug': 'plan-disclaimer', 'value': 'In This Policy, the Investment Risk In The Investment Portfolio Is Borne By The Policyholder'}, 'validations': {}}], 'banner_image': {'alt': {'en': ''}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/salarypackage.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/salarypackage_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/salarypackage_tile.jpg', 'id': '1DCdBi9pjQktI81', 'url': 'https://brandsite-static.hdfclife.com/media/image/salarypackage.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/salarypackage_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/salarypackage_tile.jpg', 'slug': 'wealth-creation-for-salaried-person', 'tags': ['Insurance Basics', 'Investment', 'Retirement', 'Health', 'Tax', 'Child'], 'url': '/insurance-knowledge-centre/about-life-insurance/wealth-creation-for-salaried-person', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<p>Building wealth should be everyone’s priority but not everyone follows that path. Most of the people focus on 9-5 routine they have and live from paycheck to paycheck. They have a dependency on their paycheck and before they realise, they are stuck in a job they don’t like but can’t quit because they have invested a lot of time in it and they don’t have a saving to fall back upon.</p>\n\n<p>Wealth building is an exercise one should practice as soon as one starts working.</p>\n\n<p>Here are a few things to keep in mind to help you pave the way ahead:</p>\n\n<ul>\n\t<li>Asset-liability and wealth building: It is important to understand the difference between assets and liabilities and not get confused between the two. Assets generate net income and liabilities mean expenditure. Assets include:</li>\n</ul>\n\n<ul style="list-style-type:circle;">\n\t<li>Cash reserve in saving account.</li>\n\t<li>Retirement and Pension Plans</li>\n\t<li>ULIPs and investment Plans.</li>\n\t<li>Life Insurance.</li>\n\t<li>Zero debt rental property etc.</li>\n</ul>\n\n<p>Our goal should be to accumulate as much of the above assets as possible.</p>\n\n<ul>\n\t<li>Return on Investment:ROI is the key if you are looking at building assets. We consider a lot of things as asset. But the true definition of an asset is something which is generating income. Look at building more income-generating assets in your working years to live a comfortable life in your golden years.</li>\n\t<li>How to begin building wealth: Accumulate assets and start reducing your liabilities. Majority of people get tempted to buy a liability over an asset and this creates financial issues later on in life. Income from assets and income from job can contribute to your increase in savings. Income from assets must increase to support income from job.</li>\n</ul>\n\n<p>In simple words, to become wealthy, one must have more than one source of income. Choose the right assets to invest in and start building wealth.</p>\n\n<p><a href="https://www.hdfclife.com/savings-investment-plans/click-2-wealth-ulip-plan">HDFC Life Click 2 Wealth</a> is a Unit Linked, Non-Participating, Life Insurance plan that offers market linked returns, charges minimally, provides valuable financial protection for you and your family.</p>\n\n<p>ARN: ED/08/19/14880</p>\n\n<p> </p>', 'title': 'Wealth-building for salaried persons: the way ahead', 'image': {'banner': '1DCdBi9pjQktI81'}, 'excerpt': 'Building wealth should be everyone’s priority but not everyone follows that path. Most of the people focus on 9-5 routine they have and live from paycheck to paycheck. They have a dependency on their paycheck and before they realise, they are stuck in a job they don’t like but can’t quit because they have invested a lot of time in it and they don’t have a saving to fall back upon. Wealth building is an exercise one should practice as soon as one starts working', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 1630, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2019-05-24T06:26:00Z'}, {'id': 1210, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'HDFC Life Click 2 Wealth is a Unit Linked Life Insurance plan that offers market linked returns and provides financial protection for you and your family. To know more, Visit Now!'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'How to secure your finances with HDFC Life Click 2 Wealth | HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'secure finances, how to stay financially secure, financial security, financial security tips, click 2 wealth'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': ''}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'Header tag 1', 'slug': 'header-tag-1', 'value': 'Secure your finances with HDFC Life Click 2 Wealth'}, 'validations': {}}], 'banner_image': {'alt': {'en': ''}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/5 things to know before purchasing an endowment policy.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/5 things to know before purchasing an endowment policy_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/5 things to know before purchasing an endowment policy_tile.jpg', 'id': 'UxDmqvQKaHtmWEv', 'url': 'https://brandsite-static.hdfclife.com/media/image/5 things to know before purchasing an endowment policy.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/5 things to know before purchasing an endowment policy_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/5 things to know before purchasing an endowment policy_tile.jpg', 'slug': 'secure-finances-with-click-2-wealth', 'tags': ['Insurance Basics', 'Investment', 'Retirement', 'Health', 'Tax', 'Child'], 'url': '/insurance-knowledge-centre/about-life-insurance/secure-finances-with-click-2-wealth', 'content': '<p><a href="https://www.hdfclife.com/retirement-and-pension-plans" target="_blank">HDFC Life Click 2 Wealth</a> is a Unit Linked, Non-Participating, Life Insurance plan that offers market linked returns, charges minimally, provides valuable financial protection for you and your family.</p>\n\n<p>Here are a few important features of this plan:</p>\n\n<ul>\n\t<li>It can help you in securing your child's/ spouse's future with Premium Waiver option</li>\n\t<li>You can plan for your retirement well with Golden Years benefit option</li>\n\t<li>You have the potential of benefitting from market-linked returns</li>\n\t<li>Investment flexibility with 8 funds unlimited free switches allowed</li>\n\t<li>It gives you the benefit of rupee cost averaging</li>\n\t<li>You can safeguard the wealth you create to meet your desired goals</li>\n</ul>\n\n<p>Features of the plan include:</p>\n\n<ul>\n\t<li>Minimal charges: Only Fund Management charge towards managing your funds and Mortality charge towards your life cover.</li>\n\t<li>Special Addition: 101% of premium allocated to your fund for first 5 years1.</li>\n\t<li>Return of Mortality Charges on Maturity:  In case of Premium Waiver option, Mortality charges pertaining to only the Life Assured would be refunded</li>\n</ul>\n\n<p>Benefits of the plan include:</p>\n\n<ul>\n\t<li>Maturity benefit: On survival until maturity, the Fund Value will be paid. Fund Value will be calculated by multiplying balance units in your fund(s) by the then prevailing unit price(s). Your policy matures at the end of Policy Term and all risk cover ceases.</li>\n\t<li>Death benefit: On a valid death claim of the Proposer for a premium paying policy, all future premiums are waived. On each future premium due date(s), an amount equal to the modal premium, shall be credited to your Fund Value. The Policy shall continue until maturity with risk benefits continued on the life of the Life Assured. Upon maturity, the maturity benefit shall become payable.</li>\n\t<li>Partial withdrawal: The Policyholder has the option of making partial withdrawals subject to the following conditions:</li>\n</ul>\n\n<p> </p>\n\n<ul style="list-style-type:circle;">\n\t<li>Partial withdrawals shall not be allowed within first five policy years.</li>\n\t<li>The Life Assured is at least 18 years of age.</li>\n\t<li>The fund value after withdrawal should not fall below 150% of annualized premium for limited/regular premium paying policies and 25% of Single Premium for single premium policies.</li>\n\t<li>The Policyholder can also submit a request for Systematic (recurring) withdrawals.</li>\n</ul>\n\n<ul>\n\t<li>Settlement option: The Policyholder can avail of the settlement option for maturity benefit. The fund value will be paid in periodical installments over a period which may extend to 5 years.</li>\n</ul>\n\n<p>HDFC Life offers various plans that market linked returned, charges minimally provides valuable financial protection for you and your family, For more details please click here: <a href="https://www.hdfclife.com/savings-investment-plans/click-2-wealth-ulip-plan">https://www.hdfclife.com/savings-investment-plans/click-2-wealth-ulip-plan</a></p>', 'title': 'Secure your finances with HDFC Life Click 2 Wealth', 'image': {'banner': 'UxDmqvQKaHtmWEv'}, 'excerpt': 'HDFC Life Click 2 Wealth is a Unit Linked, Non-Participating, Life Insurance plan that offers market linked returns, charges minimally, provides valuable financial protection for you and your family.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 2496, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2019-05-24T06:26:00Z'}, {'id': 1197, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Which buying method is beneficial for you, online or offline? This article will give you a quick comparison so that you can choose the best term plan. Visit now!'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Offline vs Online Term Plan - Which Option is Better? | HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'offline term plan, difference between offline and online term plan, what is offline term plan, what is online term plan, online vs offline term plan'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': ''}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'Header tag 1', 'slug': 'header-tag-1', 'value': 'Offline or Online term plans: Which is the best option?'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'ITR 5 - How to file ITR 5 online'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/get married.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/get married_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/get married_tile.jpg', 'id': '6yWTOKtSaccpiGw', 'url': 'https://brandsite-static.hdfclife.com/media/image/get married.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/get married_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/get married_tile.jpg', 'slug': 'offline-or-online-term-plans', 'tags': ['Insurance Basics', 'Investment', 'Retirement', 'Health', 'Tax', 'Child'], 'url': '/insurance-knowledge-centre/about-life-insurance/offline-or-online-term-plans', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<p>Term insurance is an important part of financial planning. It provides high coverage at low premium and is the best way to ensure your dependents have a secure future after your demise.</p>\n\n<p>There are two ways of buying a <a href="https://www.hdfclife.com/term-insurance-plans">term insurance</a> plan: online and offline. Here are a few features of both the ways to help you decide which one is better for you:</p>\n\n<ul>\n\t<li>\n\t<h3>Cost:</h3>\n\tOnline insurance plans are around 40% cheaper than offline insurance plan. The saving of the cost is owing to the fact that there is no agent involved and you can directly book it from the website. This saves on the agent’s commission cost and hence the reduction in fee.</li>\n\t<li>\n\t<h3>Facts disclosure:</h3>\n\tOnline plans come with complete disclosure of facts since the person fills the forms all by himself. There is nothing hidden and he is aware of all the terms of the policies. In case of offline plans, the person is dependent on the agent and may skip a few important facts about the policy.</li>\n\t<li>\n\t<h3>Sum assured:</h3>\n\tOnline plans come with low costs and zero mortality and hence assure high sums. Not many offline plans offer a high sum assured and in case where the sum assured is high, the premium is also high.</li>\n\t<li>\n\t<h3>Flexibility:</h3>\n\tOnline plans are more flexible than offline plans. You can visit the website, choose a plan, pay the premium and the documents get delivered at your doorstep. The medical procedure and premium payment process is also very smooth. You will have to depend on the agent and his schedule for offline plans and visit the insurance company for payments and starting the process.</li>\n\t<li>\n\t<h3>Rider benefits:</h3>\n\tBoth the options have rider benefits available. In case of an online plan, you may miss out on the options or skip reading them. In case of offline plans, you can ask the agent to explain you all the rider benefits.</li>\n</ul>\n\n<p>HDFC Life has <a href="https://www.hdfclife.com/term-insurance-plans">term insurance plans</a> best suited for your needs.</p>\n\n<h2><strong>Some Basic Perks of Online & Offline Term Plans</strong></h2>\n\n<p>When you purchase a term plan – whether offline or online, you can enjoy the financial security that comes with having life cover. Depending on whether you purchase your policy online or offline, you might also enjoy some additional benefits:</p>\n\n<h3><u>Online</u></h3>\n\n<p>When you purchase a term plan online, you also enjoy:</p>\n\n<ul>\n\t<li>Flexibility with regards to policy terms and premium payments</li>\n\t<li>Lower costs and minimal paperwork</li>\n\t<li>Higher settlement ratios</li>\n\t<li>Lower chances of fraud by a third party</li>\n</ul>\n\n<h3><u>Offline</u></h3>\n\n<p>When you purchase a term plan offline, you also enjoy:</p>\n\n<ul>\n\t<li>Higher fund values</li>\n\t<li>Fewer paperwork hassles since the agent will take care of everything</li>\n\t<li>Additional benefits such as agent discounts or illness cover</li>\n</ul>\n\n<h2><strong>Online Term Insurance Plan</strong></h2>\n\n<p>Online term plans are quick and easy to buy. Let’s take a look at all the advantages of purchasing a term plan online:</p>\n\n<h3><u>Several Options</u></h3>\n\n<p>When you shop online, you have the opportunity to browse around and look at every option. Additionally, online reviews and other aggregator websites can help you understand what kind of policy is ideal for your specific needs.</p>\n\n<h3><u>Direct Connect</u></h3>\n\n<p>When you buy a policy online, you deal directly with the brand. You do not go through agents or other third parties. The direct connection helps you establish a bond with the brand.</p>\n\n<h3><u>Fewer Fraud Fears</u></h3>\n\n<p>While dealing with agents, they may disappear with your payment and never issue the policy. Or, they issue you some fake policy. When you buy your term plan online, you never have to worry about this.</p>\n\n<h3><u>More Affordable</u></h3>\n\n<p>Terms plans, by nature, are incredibly affordable. But, when you purchase a plan online, it’s likely to be less expensive than its offline counterpart.</p>\n\n<h3><u>Can Be Customised</u></h3>\n\n<p>Most importantly, when you buy a term plan online, you can choose to customise it. Have a look at the additional covers that your selected insurance provider offers. You can get the additional benefits you need for a price that fits your pocket.</p>\n\n<h2><strong>Offline Term Insurance Plan</strong></h2>\n\n<p>Offline plans also come with a range of benefits, including:</p>\n\n<h3><u>Better Value</u></h3>\n\n<p>Many online articles or ads tell people they can enjoy life cover of INR 1 crore at just INR 500 per month. While this sounds great, some individuals may not require a 1 crore cover. When you purchase your plan offline, with the help of an agent or expert, they can talk you through what plan you need based on your finances. So, you could get better value for your money.</p>\n\n<h3><u>Additional Benefits</u></h3>\n\n<p>When you buy a plan offline, you might be able to enjoy some additional benefits, like critical illness cover, without having to pay a higher premium. Your agent might offer these benefits as a personal discount, something that is not available online.</p>\n\n<h3><u>Easy Paperwork</u></h3>\n\n<p>While purchasing a policy online, you have to fill out all the online forms by yourself. When you buy a policy offline, your agent will help look after all the paperwork. You just have to check it before signing.</p>\n\n<h2><strong>What’s the Better Option?</strong></h2>\n\n<p>There’s no easy answer to this question. You should opt for whichever option suits you better. If you’re sure about what you want and comfortable making purchases online, you can opt for an online term plan. On the other hand, if you’re confused about all the options available, an offline term plan might make more sense for you.</p>\n\n<h3><strong>Related Articles</strong></h3>\n\n<ul>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/how-to-buy-term-insurance-online" target="_blank">How to Buy Term Life Insurance Online?</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/buying-term-insurance-online" target="_blank">Why Purchasing term insurance online is good idea?</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/how-an-online-and-offline-term-plan-differ-from-each-other" target="_blank">How an Online and Offline Term Plan Differ from Each Other</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/why-you-should-consider-buying-insurance-online" target="_blank">Why You Should Consider Buying Insurance Online</a></li>\n</ul>\n\n<p style="text-align: center;"><a class="nav-btn red-btn" href="https://www.hdfclife.com/term-insurance-plans/click-2-protect-life" rel="noopener" style="position: relative; color: #fff; background: #d51d25; border-radius: 2px; vertical-align: middle; font: 14px \'Source Sans Pro\'; font-weight: 600; padding: 10px 20px; margin-right: 8px; margin-left: 0;" target="_blank">Buy Term Plan</a></p>', 'title': 'Offline or Online Term Plans: Which is the Best Option?', 'image': {'banner': '6yWTOKtSaccpiGw'}, 'excerpt': 'Term insurance is an important part of financial planning. It provides high coverage at low premium and is the best way to ensure your dependents have a secure future after your demise.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 1926, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2019-05-24T06:26:00Z'}], 'mobile-question-text': None, 'label': 'Kc Landing Featured Articles Insurance Basics', 'alt': None, 'mobile-question-heading': None, 'heading': 'Featured Articles'}, 'id': 'D1YFLfaevso7RaM', 'type': 'article_list', 'slug': 'kc-landing-featured-articles', 'template_url': 'kc-details-theme-one/widgets/knowledge_center.tpl.html', 'fields': {'textfield': ['heading', 'mobile-question-heading', 'mobile-question-text']}}, 'UifkAEUOfSCCo0C': {'label': 'category landing sidebar subscribe', 'data': {'icon_url': None, 'label': 'category landing sidebar subscribe', 'subscribe-button-text': 'Sign Up', 'subscribe-main-header': 'Subscribe to get the latest articles directly in your box', 'alt': None, 'subscribe-email-input-text': 'EMAIL ADDRESS', 'subscribe-button-link': None}, 'id': 'z52JyxZsV3OH6ER', 'type': 'data-only_text', 'slug': 'category-landing-sidebar-subscribe', 'template_url': 'common-widgets/articles-sidebar-subscribe.tpl.html', 'fields': {'textfield': ['subscribe-main-header', 'subscribe-email-input-text', 'subscribe-button-text', 'subscribe-button-link']}}, 'kwCSsSQIWqVRgbu': {'label': 'footer go to top - Z', 'data': {'alt': None, 'label': 'footer go to top - Z', 'links': {'content': [{'use_page': True, 'text': 'Do Not Call Registration', 'link': 'https://www.hdfclife.com/do-not-call-registration', 'page_id': 360}, {'text': 'Disclaimer', 'link': 'https://www.hdfclife.com/disclaimer'}, {'text': 'Privacy Policy', 'link': 'https://www.hdfclife.com/privacy-policy'}, {'text': 'Terms & Conditions', 'link': 'https://www.hdfclife.com/terms-and-conditions'}, {'text': 'Terminated Agent List', 'link': 'https://www.hdfclife.com/about-us/Investor-Relations'}, {'text': 'IRDAI Public Notice on Spurious Calls', 'link': 'https://www.hdfclife.com/irda-public-notice-on-spurious-calls'}, {'text': 'Unclaimed Policy Details', 'link': 'https://www.hdfclife.com/customer-service/claims/unclaimed-policyholder-payment-dues-amount-disclosure'}, {'text': 'IRDAI', 'link': 'https://www.irdai.gov.in/Defaulthome.aspx?page=H1'}, {'text': 'Insurance Ombudsman', 'link': 'https://www.irdai.gov.in/ADMINCMS/cms/NormalData_Layout.aspx?page=PageNo234&mid=7.2'}, {'text': 'IRDAI Customer Education Website', 'link': 'http://www.policyholder.gov.in/'}, {'text': 'Life Insurance Council', 'link': 'https://www.lifeinscouncil.org/code/Default.aspx'}, {'use_page': True, 'text': 'Memories for Life', 'link': 'https://hdfclife.com/thememoryproject', 'page_id': 360}, {'text': 'QROPS', 'link': 'https://www.hdfclife.com/retirement-and-pension-plans/qrops-overseas-pension-scheme'}, {'text': 'NRI Insurance Plans', 'link': 'https://www.hdfclife.com/nri-insurance-plans'}, {'text': 'Premium Payment', 'link': 'https://www.hdfclife.com/customer-service/pay-premium'}, {'text': 'NAV Summary', 'link': 'https://www.hdfclife.com/nav-summary'}, {'text': 'Online Buying', 'link': 'https://onlineinsurance.hdfclife.com/'}, {'text': 'Tools & Calculators', 'link': 'https://www.hdfclife.com/financial-tools-calculators'}, {'text': 'e-Insurance', 'link': 'https://www.hdfclife.com/customer-service/life-insurance-policy-dematerialization'}, {'text': 'Public Disclosures', 'link': 'https://www.hdfclife.com/about-us/Investor-Relations'}, {'text': 'Policy Loans General T&C', 'title': '', 'link': 'https://www.hdfclife.com/documents/apps/T-%26-C-for_Policy_loan.pdf'}, {'text': 'FC Appointment T&C', 'title': '', 'link': 'https://brandsite-static.hdfclife.com/media/documents/apps/TERMS%20AND%20CONDITIONS%20OF%20APPOINTMENT.pdf'}, {'text': 'POSP Appointment T&C', 'title': '', 'link': 'https://brandsite-static.hdfclife.com/media/documents/apps/POSP%20Appointment%20T%26C.pdf'}, {'text': 'Sitemap', 'link': 'https://www.hdfclife.com/sitemap'}, {'text': 'UW philosophy PWD/PMI/PLHA', 'title': '', 'link': 'https://brandsite-static.hdfclife.com/media/documents/apps/Underwriting%20philosophy%20and%20approach%20with%20regard%20to%20offering%20insurance%20coverage%20to%20Persons%20with%20Disabilities%2C%20Mental%20Illness.pdf'}], 'label': 'links'}, 'icon_url': None}, 'id': 'FWxVeWEeDuSNtkR', 'type': 'data-text_list', 'slug': 'footer-go-to-top', 'template_url': 'common-widgets/go_to_top.tpl.html', 'fields': {'text-list': ['links']}}, 'mobile_widgets': {}, 'JTZplJqResIbkWH': {'label': 'brandsite how can help - new - Z', 'data': {'help-col-two-blue-heading': 'Contact Our', 'label': 'brandsite how can help - new - Z', 'help-col-two-call-us-text': 'Call Us', 'small-box-label': 'NRI Service', 'branch-description-text': 'There has been changes in branch operation timings due to COVID 19', 'whatsapp-etty-text-line-two': '+91 8291 890 569   ', 'missed-call-value-3': 'Premium Amount and Due Date', 'branch-office-timing-two': 'Monday to Friday - 10:00 AM to 2:00 PM <br> Saturday - 9:30 AM to 1:00 PM', 'help-col-one-email-text': 'Email', 'call-us-content-two-text-upper': None, 'missed-call-no': '1800-315-7373', 'help-col-one-let-us-call-text': 'Instant Callback', 'help-col-two-bottom-red-heading': 'Branch Near You', 'call-us-content-two': '022-68446530', 'whatsapp-etty-button-link': 'http://bit.ly/2m4AwGn', 'help-col-one-red-heading': 'BUY ONLINE', 'help-col-one-email-id': '[email protected]', 'small-box-sms-value': 'LIFE to 56161', 'small-box-missed-call-text': 'Or Give a Missed Call on', 'help-col-three-red-heading': 'Policyholders', 'help-col-one-call-us-no': '1800-266-9777', 'branch-popup-header': 'BRANCH TIMING', 'branch-office-timing-one': 'Monday to Friday - 9:30 AM to 3:30 PM <br> Saturday - 9:30 AM to 1:00 PM', 'small-box-email-id': '[email protected]', 'help-col-one-callback-button-link': 'https://www.hdfclife.com/contact-us/call-me-now', 'branch-office-three': 'Amravati Timing :', 'help-col-two-bottom-button-text': 'Find Branch', 'call-us-content-one-text-upper': None, 'nri-service-text-two': 'MON TO SAT: 10 AM to 7 PM IST (LOCAL CHARGES APPLICABLE)', 'help-col-one-blue-heading': 'HELP TO', 'icon_url': None, 'alt': None, 'missed-call-label': 'MISSED CALL SERVICE', 'help-col-two-call-us-no': '1800-266-7227', 'help-col-one-call-timing': 'All days 9:00 AM to 9:00 PM IST', 'whatsapp-etty-text': 'Chat on WhatsApp Etty', 'help-col-three-call-email-text': 'Email', 'branch-office-two': 'Mumbai Timing :', 'call-us-content-one-text': '(Local charges applicable)', 'help-col-two-red-heading': 'Relationship Manager', 'missed-call-value-1': '08000006609 to get details on your Fund Value', 'branch-office-timing-three': 'Monday to Friday - 9:30 AM to 3:30 PM <br>Saturday - 9:30 AM to 1:00 PM <div class="branch-bold-txt-wrap">Akola Timing :</div><div class="branch-txt-wrap">Monday to Friday - 9:30 AM to 3:30 PM <br>Saturday - 9:30 AM to 1:00 PM</div><div class="branch-bold-txt-wrap">Yavatmal Timing :</div><div class="branch-txt-wrap"> Monday to Friday - 9:30 AM to 3:30 PM <br> Saturday - 9:30 AM to 1:00 PM </div><div class="branch-bold-txt-wrap">Pune Timing :</div><div class="branch-txt-wrap"> Monday to Friday - 9:30 AM to 2:00 PM <br> Saturday - 9:30 AM to 1:00 PM </div>', 'help-col-three-call-timing': 'Available Mon-Sat 10 am to 7 pm IST. DO NOT prefix any country code e.g. +91 or 00.', 'whatsapp-etty-button-text': 'chat now', 'help-col-one-sms-text': 'SMS', 'help-col-two-call-timing': 'Mon-Sat 9:30 A.M to 6:30 P.M IST', 'small-box-email-text': 'Email', 'branch-timing-button-text': 'CHECK BRANCH TIMING', 'help-col-three-call-email-id': '[email protected]', 'call-us-content-two-text': '(STD charges applicable)', 'small-box-sms-text': '', 'help-col-one-callback-button-text': 'CLICK HERE', 'help-col-one-call-us-text': 'Speak to our Certified Insurance Experts', 'missed-call-value-2': '(Applicable for Unit Linked Plans only),', 'nri-service-lhs-one': 'Email', 'help-col-two-bottom-blue-heading': 'Locate A', 'branch-timing-section': {'label': 'branch timing section', 'text': '<section>\n<h2 class="heading">BRANCH TIMING</h2>\n\n<div class="branch-timings-wrap">\n<div class="branch-box">\n<div class="branch-bold-txt-wrap">India Timing :</div>\n\n<div class="branch-txt-wrap">Monday to Friday - 9:30 AM to 3:00 PM<br />\nSaturday - 9:30 AM to 1:00 PM</div>\n</div>\n\n<h3 class="sub-heading">Revised Timings for few branches for the below mentioned states :</h3>\n\n<table class="branch-table tableRevised">\n\t<tbody>\n\t\t<tr>\n\t\t\t<td>1. Assam</td>\n\t\t\t<td>5. Nagaland</td>\n\t\t</tr>\n\t\t<tr>\n\t\t\t<td>2. Maharastra</td>\n\t\t\t<td>6. Sikkim</td>\n\t\t</tr>\n\t\t<tr>\n\t\t\t<td>3. Manipur</td>\n\t\t\t<td>7. Tripura</td>\n\t\t</tr>\n\t\t<tr>\n\t\t\t<td>4. Meghalaya</td>\n\t\t\t<td>8. West Bengal</td>\n\t\t</tr>\n\t</tbody>\n</table>\n\n<div class="branch-btn-wrap"><a class="btn btn-default btn-red" download="Revised_Timing_List.pdf" href="/documents/apps/Revised_Timing_List.pdf" rel="noopener noreferrer" target="_blank">Download Revised Timing Branch List</a></div>\n<span class="disclaimer">Note: These are temporary changes and will be updated frequently.</span></div>\n</section>\n'}, 'locate-branch': {'image_id': 'DeS0ce7oA3xEU7B', 'image_url': 'https://brandsite-static.hdfclife.com/media/image/find-branch.png', 'alt': '', 'description': '', 'text': 'locate branch', 'link': ''}, 'help-col-three-call-us-no': '1860 267 9999', 'help-col-one-sms-value': 'SMS LIFE to 56161', 'nri-service-lhs-two': 'Call us', 'call-us-content-one': '1860-267-9999', 'help-col-three-call-us-text': 'Call Us', 'helpbox-heading': 'HOW CAN WE HELP YOU', 'small-box-email-condition': '(For NRI customer only)', 'help-col-two-bottom-button-link': '/contact-us/branch-locator', 'nri-service-phone': '+91-8916694100', 'help-col-three-blue-heading': 'Service For', 'branch-office-one': 'India except Mumbai, Amravati, Akola, Yavatmal and Pune Timing :'}, 'id': 'duknoZznwrNG1Gy', 'type': 'data-wysiwyg_editor', 'slug': 'brandsite-how-can-help', 'template_url': 'brandsite-home-theme-one/widgets/how_can_help.tpl.html', 'fields': {'textfield': ['helpbox-heading', 'help-col-one-blue-heading', 'help-col-one-red-heading', 'help-col-one-call-us-text', 'help-col-one-call-timing', 'help-col-one-call-us-no', 'help-col-one-email-text', 'help-col-one-email-id', 'help-col-one-sms-text', 'help-col-one-sms-value', 'help-col-one-let-us-call-text', 'help-col-one-callback-button-text', 'help-col-one-callback-button-link', 'help-col-two-blue-heading', 'help-col-two-red-heading', 'help-col-two-call-us-text', 'help-col-two-call-timing', 'help-col-two-call-us-no', 'help-col-two-bottom-blue-heading', 'help-col-two-bottom-red-heading', 'help-col-two-bottom-button-text', 'help-col-two-bottom-button-link', 'help-col-three-blue-heading', 'help-col-three-red-heading', 'help-col-three-call-us-text', 'help-col-three-call-timing', 'help-col-three-call-us-no', 'help-col-three-call-email-text', 'help-col-three-call-email-id', 'small-box-label', 'small-box-email-text', 'small-box-email-condition', 'small-box-sms-text', 'small-box-sms-value', 'small-box-email-id', 'missed-call-label', 'missed-call-value-1', 'missed-call-value-2', 'missed-call-value-3', 'whatsapp-etty-text', 'whatsapp-etty-text-line-two', 'whatsapp-etty-button-text', 'whatsapp-etty-button-link', 'small-box-missed-call-text', 'missed-call-no', 'branch-description-text', 'branch-timing-button-text', 'branch-office-timing-one', 'branch-office-one', 'branch-office-two', 'branch-office-three', 'branch-office-timing-two', 'branch-office-timing-three', 'branch-popup-header', 'nri-service-text-two', 'nri-service-text-two', 'nri-service-phone', 'nri-service-lhs-one', 'nri-service-lhs-two', 'call-us-content-one', 'call-us-content-two', 'call-us-content-one-text', 'call-us-content-two-text', 'call-us-content-one-text-upper', 'call-us-content-two-text-upper'], 'image-field': ['locate-branch'], 'wysiwyg-editor': ['branch-timing-section']}}, 'E5UCUFCg1rn8jgW': {}, 'k6NVSGBjDbNPdep': {'id': '2k0ZQ6VmUrmOHSU', 'label': 'brandsite header - (Individuals)', 'data': {'label': 'brandsite header - (Individuals)', 'bell-notification-2': {'content': [{'text': 'Special Plans for NRI', 'title': 'EXPLORE NOW', 'link': ''}, {'text': 'Protect your loved ones with life insurance cover of Rs 50 lakh. No medical. No hassale.', 'title': 'KNOW MORE', 'link': ''}, {'text': 'Quick buy online and Get a 20 lakh cover @ Rs 5 / day.', 'title': 'BUY NOW', 'link': ''}, {'text': 'Demat your life insurance policies with HDFC Life.', 'title': 'START NOW', 'link': ''}, {'text': 'Quick buy online and Get a 20 lakh cover @ Rs 5 / day.', 'title': 'BUY NOW', 'link': ''}], 'label': 'bell notification 2'}, 'resume-application': 'Resume Application', 'alt': '', 'bell-disclaimer': '<p><b>Disclaimers –</b></p><p>**Only available for regular premium and limited premium</p><p>*Guaranteed Additions will vary by policy term in a range of 220% to 325% of Sum Assured on Maturity</p><p>^On survival, at the end of the policy term, receive lumpsum benefit as aggregate of:<br> i) Sum Assured of Maturity <br>ii) Accrued Guaranteed Additions.</p>', 'icon_url': 'https://brandsite-static.hdfclife.com/media/image/banner_image_qowxVaa.png', 'buy-policy-text': 'To buy a policy', 'resume-application-button': 'CLICK HERE', 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{'text': 'Track the performance of all funds.', 'title': 'KNOW MORE', 'link': 'https://www.hdfclife.com/fund-performance'}, {'text': 'Join the HDFC Life Team.', 'title': 'CAREERS', 'link': 'https://www.hdfclife.com/hdfc-careers/'}], 'label': 'bell notification'}, 'buy-policy-number': '1800-266-9777', 'navigation': [{'label': 'Plans', 'image_list_data': [{'description': 'Exclusive Online Pricing - Buy Now', 'path': 'https://brandsite-static.hdfclife.com/media/image/3D_Ad_Inventory_Navigation.jpg', 'link': 'https://onlineinsurance.hdfclife.com/buy-online-term-insurance-plans/click-2-protect-3D/calculate-premium?source=NW_C2P3D_Nav_I_AP_OPBN&agentcode=00399206&utm_medium=website&utm_source=navigation&utm_campaign=online-pricing&utm_content=homepage-ind&prod=C2P3D'}], 'children': [{'children': [{'label': 'HDFC Life Click 2 Protect Life', 'image_url': '', 'page_id': 711, 'highlighted_text': '', 'description': '', 'slug': 'click-2-protect-life', 'type_of_link': 'internal-link', 'link': 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'type': 'navigation-navigation_group', 'slug': 'homepage-v2-footer-links', 'template_url': 'brandsite-home-theme-two/widgets/brandsite-footer-links.tpl.html', 'fields': {}, 'link': ''}, 'SN5e5YwxY2kvh9N': {'label': 'footer text - Z', 'data': {'icon_url': None, 'label': 'footer text - Z', 'alt': None, 'footer-text': {'label': 'footer text', 'text': '<p>Our vision is to provide innovative and customer-centric insurance plans that can help our customers secure their family's future as well as help them with other benefits such as tax savings. Keeping this in mind we offer a large range of life insurance plans such as <a href="/term-insurance-plans"> term insurance plan </a>, <a href="/women-insurance-plans"> women's plan </a>, <a href="/health-insurance-plans"> health insurance plans </a>, <a href="/retirement-and-pension-plans"> pension plans for retirement planning </a>, <a href="/children-insurance-plans"> child education plans </a>, <a href="https://www.hdfclife.com/ulip-plans"> ULIPs </a>, <a href="https://www.hdfclife.com/savings-plans"> Savings plans</a>. Most of these life insurance policies are available online, so buy one today and Sar Utha Ke Jiyo!.<br />\n<br />\nAs per regulatory changes, it is mandatory to submit PAN/Form 60 (if PAN is not available) for your policy with immediate effect. Please update via My <a href="mailto:Account/[email protected]">Account/[email protected]</a>/18602679999/HDFC Life branch. Ignore if already submitted.</p>\n\n<div class="more-content">\n<p><strong>HDFC Life Insurance Company Limited</strong>. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.</p>\n\n<p><strong>Registered Office: </strong></p>\n\n<div itemscope="" itemtype="http://schema.org/LocalBusiness"><span itemprop="name">HDFC Life Insurance Company Limited, </span>\n\n<div itemprop="image" itemscope="" itemtype="http://schema.org/ImageObject" style="display:none"><img alt="" itemprop="url" src="//brandsite-images.hdfclife.com/static/assets/img/brandsite_home/hdfc-life-logo.png" width="250" /></div>\n\n<div itemprop="address" itemscope="" itemtype="http://schema.org/PostalAddress">\n<p><span itemprop="streetAddress">Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, </span> <span itemprop="addressLocality"> Mumbai </span> <span itemprop="postalCode"> 400 011. </span> Tel No: <span itemprop="telephone"> (022)67516666.</span></p>\n\n<p>The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited and is used by HDFC Life under a licence/agreement<br />\nFor more details on risk factors, associated terms and conditions and exclusions, please read the sales brochure carefully before concluding a sale. ARN: EC/06/2017/9792</p>\n</div>\n\n<div class="hidden-sm hidden-md hidden-lg"><a class="cta-read-more cta-red read-more"> Read more </a> <a class="cta-read-less cta-red read-less"> Read less </a></div>\n</div>\n</div>\n\n\n<div class="modal fade videoPopup" id="spopUp">\n<div class="modal-dialog">\n<div class="modal-content">\n<div class="modal-header">\n<h4 class="modal-title" id="videoPopupModal">THANK YOU FOR CONTACTING</h4>\n<a class="modal-close" data-dismiss="modal" href="#"><img alt="" src="/static/assets/img/fund_performance/popup-close-icon.png" /> </a></div>\n\n<div class="modal-body">\n<div class="successMsg">\n<p>Your request has been submitted successfully. Our Team will get back to you soon</p>\n</div>\n</div>\n</div>\n</div>\n</div>\n'}}, 'id': 'qbOASBU8xynSNcu', 'type': 'data-wysiwyg_editor', 'slug': 'footer-text', 'template_url': 'common-widgets/footer_text.tpl.html', 'fields': {'wysiwyg-editor': ['footer-text']}}, 'QmskTXx5FJplxwG': {'label': 'brandsite get app link - new - Z', 'data': {'icon_url': None, 'label': 'brandsite get app link - new - Z', 'get-app-link-button-link': 'Link 4', 'get-app-link-footer': 'I hereby consent to receive policy related communication from HDFC Life or its authorized representatives via Call, SMS, Email & Voice over Internet Protocol (VoIP) including WhatsApp. and agree to waive my registration on NCPR (National Customer Preference Registry) in this regard.', 'alt': None, 'image-mobile-support': {'content': [{'image_id': '4YiDsXhrjvtuEfY', 'image_url': 'https://brandsite-static.hdfclife.com/media/image/apple (1).png', 'alt': 'apple image', 'description': '', 'text': 'sample 1', 'link': 'https://hdfclife.onelink.me/1180682990/99d2bcfb', 'bannerText': 'sample 1'}, {'image_id': 'UFfm4stStoyu7RR', 'image_url': 'https://brandsite-static.hdfclife.com/media/image/android (1).png', 'alt': 'android image', 'description': '', 'text': '', 'link': 'https://hdfclife.onelink.me/1180682990/b165a46c'}], 'label': 'image mobile'}, 'get-app-link-button-text': 'Get App Link', 'get-app-link-sub-header': 'Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App. Download Now!', 'get-app-link-main-header': 'DOWNLOAD HDFC LIFE APP'}, 'id': 'V5I0EXN90PbL0HB', 'type': 'data-image_list', 'slug': 'brandsite-get-app-link', 'template_url': 'brandsite-home-theme-one/widgets/mobile_app.tpl.html', 'fields': {'textfield': ['get-app-link-main-header', 'get-app-link-sub-header', 'get-app-link-button-text', 'get-app-link-button-link', 'get-app-link-footer'], 'image-list': ['image-mobile-support']}}, '8Jz5TfNZ4X7ft3x': {'label': 'category calculators_kc category Insurance Basic', 'data': {'icon_url': None, 'content': [{'label': 'Human Life Value Calculator', 'data': {'icon_url': 'https://brandsite-static.hdfclife.com/media/image/HLV_color.jpg', 'label': 'Human Life Value Calculator', 'alt': '', 'calculator-link': '/financial-tools-calculators/human-life-value-calculator'}, 'id': 'GMYfD6jnhCDV8lE', 'type': 'html/js-calculator', 'slug': 'category-landing-calculator', 'template_url': 'kc-details-theme-one/widgets/category_landing_calculator.tpl.html', 'fields': {'textfield': ['calculator-link']}}, {'label': 'Child Education Calculator', 'data': {'icon_url': 'https://brandsite-static.hdfclife.com/media/image/Child_education_color.jpg', 'label': 'Child Education Calculator', 'alt': '', 'calculator-link': '/financial-tools-calculators/child-education-expense-planning-calculator'}, 'id': 'AFzOdYV8SQVUzbx', 'type': 'html/js-calculator', 'slug': 'category-landing-calculator', 'template_url': 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So while individuals appreciate the importance of taking insurance, the formalities can be a put-off, making them postpone the decision.</p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<p class="img-wrp" style="text-align: left;">When it comes to selecting the best life insurance plan, there is lot of planning and risk-assessment involved. Your financial planner or insurance agent will want to know:</p>\n</div>\n</div>\n\n<div class="inner-plans-wrp generic ">\n<ol class="ol-list" style="margin-bottom:10px;">\n\t<li>\n\t<p>Your salary and other sources of income along with liabilities like loans so as to calculate your human life value. This is the key input for taking life cover.</p>\n\t</li>\n\t<li>\n\t<p>Whether you are willing to take risk</p>\n\t</li>\n\t<li>\n\t<p>What are your important life goals in terms of planning for child’s education, marriage or your own retirement</p>\n\t</li>\n\t<li>\n\t<p>Your investment time frame viz. 10 years/20 years/30 years</p>\n\t</li>\n</ol>\n\n<p>The financial planner will select the best life insurance policy that meet’s you needs based on these inputs.</p>\n\n<p><strong>The best insurance plan</strong></p>\n\n<p>Having said that, there are some unique and innovative features across insurers / insurance plans that individuals must seek out while finalizing their insurance choices.</p>\n\n<p>Some of these features include:</p>\n\n<ol class="ol-list" style="margin-bottom:10px;">\n\t<li>\n\t<p>Go for the insurance plans that offer a wider range of options in terms of plans/options in case of a ULIP or riders in case of life cover plans like <a href="/term-insurance-plans/click-2-protect-life" target="_blank" title="HDFC Life Click2Protect Plus - Best Online Term Insurance Policy">term plans</a> and endowment plans. A wider range of choices means you have a better choice of finding the most suitable plan/option for your risk profile and investment objective.</p>\n\t</li>\n\t<li>\n\t<p>Buying <a href="/" target="_blank" title="Life Insurance Plans and Policies by HDFC Life">life insurance</a> should be convenient and hassle-free. Go for an insurance plan that is easier to buy – like for instance over the internet.</p>\n\t</li>\n\t<li>\n\t<p><a href="/insurance-plans" target="_blank" title="Insurance Plans and Policies in India">Insurance</a> does not come for free; there are charges and expenses involved towards life cover, fund management, administration, agency or distribution and so on. Go for insurance plans with the lowest expense since this means lower premiums for the same cover. In case of <a href="/insurance-knowledge-centre/about-life-insurance/what-is-ulip-plans/" target="_blank" title="Definition and Meaning of Unit Linked Insurance Plans">ULIPs</a>, lower expenses reflect in returns over time. On the same lines, certain companies offer discounted premium rates on term plans for non-smokers, for examples.</p>\n\t</li>\n\t<li>\n\t<p>Go for insurance plans that offer more flexibility to choose the policy term. So an insurance plan with the minimum entry age and maximum maturity age is preferable since this ensures you are covered for a longer period of time</p>\n\t</li>\n</ol>\n\n<h3><strong>Similar Articles</strong></h3>\n\n<ul>\n\t<li><a href="https://www.hdfclife.com/term-insurance-plans/click-2-protect-life" target="_blank" title="HDFC Life Click2Protect Plus - Best Term Insurance Policy">HDFC Life Click 2 Protect Life</a></li>\n\t<li><a href="/insurance-knowledge-centre/compare-life-insurance-plans/life-insurance-quotes-comparison/" target="_blank" title="Life Insurance Quotes Comparison">How To Compare Life Insurance Quotes Online</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/term-insurance-comparison" target="_blank" title="Compare Term Insurance Plans">Comparing Term Insurance Plans</a></li>\n</ul>\n\n<h3><strong>Popular Insurance Definitions:</strong></h3>\n\n<ul>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-term-insurance" target="_blank" title="Meaning and Definition of Term Insurance by HDFC Life">What is Term Insurance?</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-health-insurance" target="_blank" title="Meaning and Definition of Health Insurance by HDFC Life">What is Health Insurance?</a></li>\n</ul>\n\n<p> </p>\n</div>\n</div>\n</div>\n\n<p class="Separator"> </p>\n</article>\n</div>\n</div>', 'title': 'Which is the best life insurance plan in India', 'image': {'banner': 'LliizKngfXf9iEf'}, 'excerpt': 'Buying insurance is seen as time-consuming even cumbersome. So while individuals appreciate the importance of taking insurance, the formalities can be a put-off, making them postpone the decision.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 320, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-04T11:04:00Z'}, {'id': 65, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Life Insurance Vs. Health Insurance - Which is Better | HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Difference Between Life Insurance and Health Insurance: Read what differentiates the two and why is it necessary to include both in your insurance portfolio. 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There is life insurance and non-life insurance and each category has its variants like term and endowment in the former and health insurance, among others, in the latter.<script>\r\n !function (d, s, id) { var js, fjs = d.getElementsByTagName(s)[0], p = /^http:/.test(d.location) ? \'http\' : \'https\'; if (!d.getElementById(id)) { js = d.createElement(s); js.id = id; js.src = p + \'://platform.twitter.com/widgets.js\'; fjs.parentNode.insertBefore(js, fjs); } }(document,\r\n \'script\', \'twitter-wjs\');\r\n </script></p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<h3 class="img-wrp" style="text-align: left;"><strong>What is the purpose of life insurance?</strong></h3>\n\n<div class="description">\n<p style="padding-right:30px;"><script type="text/javascript">\r\n (function (d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/all.js#xfbml=1"; fjs.parentNode.insertBefore(js, fjs); }\r\n (document, \'script\', \'facebook-jssdk\'));</script></p>\n</div>\n</div>\n</div>\n\n<div class="inner-plans-wrp generic ">\n<p class="pad-top10">Providing life cover to the policyholder is the main objective behind opting for <a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/type-of-insurance" target="_blank" title="HDFC Life Insurance Company">life insurance</a>. The policyholder wants to be sure that his family / dependents can maintain their lifestyle in his absence. In an eventuality, proceeds from the life insurance policy will replace his income allowing his family members to lead a near-normal life as far as the household finances go.</p>\n\n<h3><strong>What is the purpose of health insurance?</strong></h3>\n\n<p><a href="/health-insurance-plans" target="_blank" title="HDFC Life Insurance Company">Health insurance</a> aims at covering the actual cost towards treating illnesses/medical conditions subject to the sum assured. There is no life cover, meaning there is no payout on death.</p>\n\n<h3><strong>Need for both in an individual’s portfolio</strong></h3>\n\n<p>Clearly, given the distinct benefits of the two forms of insurance, individuals must aim at including both in their portfolios. A life cover is a must for any individual with financial responsibilities towards his family. He must opt for a cover that adequately covers his liabilities and provides for household expenses –an amount that is effectively his ‘human life value’.</p>\n\n<p>Health insurance is a no-brainer really, given that medical contingencies can strike any time and can put your finances under considerable stress.</p>\n\n<p>Individuals must consult their financial planners to understand the various the insurance options and the extent of the cover under each option.</p>\n\n<h3><strong>Similar Articles</strong></h3>\n\n<ul>\n\t<li><a href="/insurance-knowledge-centre/secure-your-health/difference-health-mediclaim-plan/" target="_blank" title="Health Plan vs. Mediclaim Policies">Difference Between Health Insurance and Mediclaim Policies</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/how-to-choose-right-plan" target="_blank" title="Choosing the Best Life Insurance Policy">How to Choose the Best Life Insurance Policy</a></li>\n\t<li><a href="/health-insurance-plans" target="_blank" title="Online Health Insurance Plans and Policies in India by HDFC Life">Health Insurance Plans</a></li>\n\t<li><a href="/insurance-plans" target="_blank" title="Life Insurance Plans and Policies by HDFC Life">Life Insurance Policies</a></li>\n\t<li><a href="/insurance-knowledge-centre/secure-your-health/right-health-insurance-plan/" target="_blank" title="Tips to Choose the Best Health Plan">How to Choose the Best Health Insurance Plan in India</a></li>\n</ul>\n\n<p> </p>\n\n<p> </p>\n\n<p> </p>\n</div>\n</div>\n</div>\n</article>\n</div>\n</div>', 'title': 'Difference between Life and Health Insurance', 'image': {'banner': 'n7VcTlg3TKhjcOV'}, 'excerpt': 'There are various types of insurance so it is easy to confuse one for the other.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 10550, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-23T11:49:00Z'}, {'id': 59, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Ultimate Guide - Buy Term Insurance Plans Online | HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'If you are planning to buy a term insurance plan online in coming weeks, then you are at the right place! Read this ultimate guide to know the steps required.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'online term plan, online term insurance plan, buy online term insurance, buy life insurance, term insurance buying guide, types of term plans, how to buy term plan'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:How To Buy Term Insurance Online\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:How To Buy Term Insurance Online\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/how-to-buy-term-insurance-online'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Monthly Income Payout in Term Insurance'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_tile.jpg', 'id': 'OwdSmjW4K2VPkwA', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_tile.jpg', 'slug': 'how-to-buy-term-insurance-online', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/how-to-buy-term-insurance-online', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section12">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left">Buying insurance is seen as time-consuming even cumbersome. So while individuals appreciate the importance of taking insurance, the formalities can be a put-off, making them postpone the decision.\u200b</p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<h2 class="img-wrp" style="text-align: left;"><strong>Online saves the day</strong></h2>\n\n<div class="description">\n<p style="padding-right:30px;"><script type="text/javascript">\n (function (d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/all.js#xfbml=1"; fjs.parentNode.insertBefore(js, fjs); }\n (document, \'script\', \'facebook-jssdk\'));</script></p>\n\n<p><script>\n !function (d, s, id) { var js, fjs = d.getElementsByTagName(s)[0], p = /^http:/.test(d.location) ? \'http\' : \'https\'; if (!d.getElementById(id)) { js = d.createElement(s); js.id = id; js.src = p + \'://platform.twitter.com/widgets.js\'; fjs.parentNode.insertBefore(js, fjs); } }(document,\n \'script\', \'twitter-wjs\');\n </script></p>\n</div>\n</div>\n</div>\n\n<div class="inner-plans-wrp generic ">\n<p class="pad-top10">Thankfully, we are in an age where practically nothing need be time-consuming and cumbersome. The internet has taken care of that. You can now browse insurance company websites and buy online term insurance plans, which is a popular form of insurance.</p>\n\n<h3><strong>Why term plans</strong></h3>\n\n<p>To revisit the attraction of <a href="/term-insurance-plans" target="_blank" title="Term Plans">term plan</a> for individuals –online term plans offer the cheapest medium of availing life insurance where one can get a high life cover at a relatively low premium.</p>\n\n<h3><strong>How the internet is spreading insurance</strong></h3>\n\n<p>The internet has graduated from being a mere provider of information to a key distribution channel for service providers like insurance. It offers a fast, efficient, cost-effective and transparent mode of delivery. While traditionally, insurance companies have relied on consultants, agents and brokers, in addition to their own in-house sales support, this has proved to be both expensive and inefficient. The turnaround time in getting an individual insured is high and there is a burden to service the agent through regular commissions over the life of the policy.</p>\n\n<p>The internet has helped insurance companies iron out both time and cost inefficiencies. They now engage insurance-seekers directly through company websites. Insurance is ‘delivered’ seamlessly and since there is no agent involved, there is no commission to be paid. This makes selling insurance cheaper and the individual benefits by paying a lower premium vis-à-vis a similar policy sold offline.</p>\n\n<h3><strong>How to buy online term insurance plans</strong></h3>\n\n<p>Buying the <a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/how-to-choose-the-best-term-insurance-plan" target="_blank" title="How to Buy the Best Term Insurance Plan in India in 2015">term insurance plan in India</a> online is a simple, streamlined experience that will make you wonder why it was not discovered earlier.</p>\n\n<p>While the process of buying online term insurance varies across insurance companies, it broadly involves the following steps:</p>\n\n<ol class="pad-left10 pad-bottom10 ol-list" style="text-align: justify;">\n\t<li>Log on to the company website for e.g. log on to www.hdfclife.com and click on the banner advertising online insurance</li>\n\t<li>Enter the sum assured</li>\n\t<li>Choose the policy term</li>\n\t<li>Choose the premium paying term</li>\n\t<li>You will see the premium amount based on your inputs</li>\n\t<li>Select your bank to make the premium payment</li>\n\t<li>You will see an acknowledgement on a successful transaction</li>\n\t<li>Within a period of usually three weeks the insurance company will come back to you on whether or not your insurance policy has been approved by its underwriting team</li>\n\t<li>Subject to approval you will receive a soft copy of the policy which will be followed by a hard copy</li>\n</ol>\n\n<p>The mark of a good online experience is fewer clicks and website speed. The lesser number of clicks necessary to buy insurance, the simpler it becomes for users. And slow website speed with higher response time while navigating to the bank website for premium payment, can be a turn off.</p>\n\n<p> </p>\n\n<h3><strong>Similar Articles:</strong></h3>\n\n<ul>\n\t<li><a href="https://onlineinsurance.hdfclife.com/buy-online-term-insurance-plans/click-2-protect-plus?source=W_KC_SA_Buy_Term_Insurance" target="_blank" title="HDFC Life Click2Protect Plus - Online Term Plan">Buy HDFC Life Click2Protect Plus Term Insurance Plan Online</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/need-for-insurance/" target="_blank" title="Need and Benefits of Insurance">Need For Insurance</a></li>\n\t<li><a href="http://blog.hdfclife.com/why-term-life-insurance-plans-are-necessary-532420" target="_blank" title="Why Term Insurance Plans are a must have">5 Reasons Why Term Insurance Plans Are A Must Have</a></li>\n\t<li><a href="/term-insurance-plans/need-for-protection-plan" target="_blank" title="Need For Term Insurance Plans">Benefits of Term Life Insurance</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/term-insurance-comparison" target="_blank" title="Term Insurance Comparison">Compare Term Insurance Plans</a></li>\n\t<li><a href="/insurance-knowledge-centre/compare-life-insurance-plans/ulip-plan-comparison/" target="_blank" title="ULIP Comparison">Compare ULIP Plans</a></li>\n</ul>\n\n<h3><strong>Popular Insurance Definitions:</strong></h3>\n\n<ul>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-term-insurance" target="_blank" title="Meaning and Definition of Term Insurance by HDFC Life">What is Term Insurance?</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-health-insurance" target="_blank" title="Meaning and Definition of Health Insurance by HDFC Life">What is Health Insurance?</a></li>\n</ul>\n\n<h3><strong>Related Articles</strong></h3>\n\n<ul>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/when-to-buy-term-plan" target="_blank">When is the Best Age to Buy a Term Insurance Plan?</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/need-for-protection-plan" target="_blank">Why do I need a Term Insurance Plan?</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/why-you-should-buy-life-insurance-when-you-get-married" target="_blank">Why you should buy life insurance when you get married</a></li>\n</ul>\n\n<p> </p>\n\n<p style="text-align: center;"><a class="nav-btn red-btn" href="https://www.hdfclife.com/term-insurance-plans/click-2-protect-life" rel="noopener" style="position: relative; color: #fff; background: #d51d25; border-radius: 2px; vertical-align: middle; font: 14px \'Source Sans Pro\'; font-weight: 600; padding: 10px 20px; margin-right: 8px; margin-left: 0;" target="_blank">Buy Term Insurance Plan</a></p>\n\n<p> </p>\n</div>\n</div>\n</div>\n</article>\n</div>\n</div>', 'title': 'How to Buy Term Life Insurance Online?', 'image': {'banner': 'OwdSmjW4K2VPkwA'}, 'excerpt': 'Buying insurance is seen as time-consuming even cumbersome. So while individuals appreciate the importance of taking insurance, the formalities can be a put-off, making them postpone the decision.To revisit the attraction of term plan for individuals –online term plans offer the cheapest medium of availing life insurance where one can get a high life cover at a relatively low premium.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 5249, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-04T11:59:00Z'}, {'id': 67, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Myths and Facts about Life Insurance Policies'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Learn about the myths & facts surrounding life insurance so that you take an informed decision before buying a life insurance policy. To know more about life insurance myths, Click here!'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'insurance myths, what are the different insurance myths, insurance myths debunked'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:Insurance Myths\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:Insurance Myths\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/insurance-myths'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Term Insurance Meaning'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_tile.jpg', 'id': 'NHs1ROzIjpqDIYK', 'url': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_tile.jpg', 'slug': 'insurance-myths', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/insurance-myths', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet"/>\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section10">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left">There are a lot of misconceptions associated with Insurance. Insurance is mostly viewed as a tax saving tool and hence enough cover is not taken to cover you and your family under necessary circumstances. Always take an informed decision before considering Insurance needs for your family.</p>\n</div>\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<div class="description">\n<h3><strong>What are the different insurance myths?</strong></h3>\n<p style="padding-right:30px;"><script type="text/javascript">(function (d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/all.js#xfbml=1"; fjs.parentNode.insertBefore(js, fjs); }\r\n(document, \'script\', \'facebook-jssdk\'));</script></p>\n</div>\n</div>\n</div>\n<div class="inner-plans-wrp generic ">\n<p>Following are the most common life insurance myths:</p>\n<ol class="markers mrgn-left0 pad-bottom10 mrgn-top10 list-check">\n<li>\n<p><strong>Insurance is for saving tax</strong></p>\n<p>Saving tax is just an added advantage of insurance policy. The main objective of insurance is to provide protection to you and your family and to build an assured corpus for your future needs.</p>\n</li>\n<li>\n<p><strong>Insurance will benefit only after my death</strong></p>\n<p>Insurance policies provide protection to you and your family. One of the main objectives of taking insurance is to provide financial cushion to your family in case you are not around but it\'s not the only objective. Insurance helps you to build a corpus for yourself; provides you with comfortable retired life and even takes care of your lengthy medical bills.</p>\n</li>\n<li>\n<p><strong>My group insurance is adequate</strong></p>\n<p>Your\xa0<a href="/group-insurance-plans" target="_blank">group insurance</a>\xa0might be adequate but what if you change the job? Once you change the job your group insurance will cancel off and you will not get any insurance benefit. So it is always advisable to take insurance other than the insurance offered by your employer.</p>\n</li>\n<li>\n<p><strong>Only the Breadwinner of the family needs insurance</strong></p>\n<p>Every family member needs insurance. Your work profile changes the insurance needs but certainly does not eliminate them.</p>\n</li>\n<li>\n<p><strong>I\'m single and don\'t have any dependents, therefore I don\'t need any coverage</strong></p>\n<p>You might not need a <a href="/" target="_blank" title="Life Insurance Company in India">life insurance</a> policy where your nominee is taken care of but you certainly need a policy to take care of your health and retirement worries..</p>\n</li>\n<li>\n<p><strong>Life insurance is far more important than health coverage</strong></p>\n<p>As the health costs are increasing by the day, taking a\xa0<a href="/health-insurance-plans" target="_blank">health insurance</a>\xa0plan has become as important as a life coverage plan. Health plans, disability plans and critical illness plans provide you with financial cushion and compensate for the financial loss you suffer in case you are not able to work because of illness.</p>\n</li>\n</ol>\n<h3><strong>Similar Articles</strong></h3>\n<ul>\n<li><a href="/insurance-knowledge-centre/how-to-choose-right-plan" target="_blank" title="How do I choose and decide on the right plan?">How do I choose and decide on the right plan?</a></li>\n<li><a href="https://onlineinsurance.hdfclife.com/buy-online-term-insurance-plans/click-2-protect-plus?source=W_KC_BodyLinks_T2P" target="_blank" title="Term Plan Calculator">Term Plan Calculator</a></li>\n<li><a href="http://blog.hdfclife.com/understanding-different-categories-of-life-insurance-policy-532280" target="_blank" title="Understanding the 3 Key Broad Categories of Insurance Products">Understanding the 3 Key Broad Categories of Insurance Products</a></li>\n<li><a href="/insurance-plans" target="_blank" title="Life Insurance Plans by HFC Life">Insurance Plans and Policies</a></li>\n<li><a href="/insurance-knowledge-centre/tax-saving-insurance/tax-planning-tips-for-salaried-employees/" target="_blank" title="Tax Planning For Salaried Employees">Tax Planning For Salaried Employees</a></li>\n</ul>\n</div>\n</div>\n</div>\n<p class="Separator">\xa0</p>\n</article>\n</div>\n</div>', 'title': 'Life Insurance Myths', 'image': {'banner': 'NHs1ROzIjpqDIYK'}, 'excerpt': 'There are a lot of misconceptions associated with Insurance. Insurance is mostly viewed as a tax saving tool and hence enough cover is not taken to cover you and your family under necessary circumstances. Always take an informed decision before considering Insurance needs for your family.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 1876, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-04T10:20:00Z'}, {'id': 74, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Insurance For Couples: Insurance Policy for Married Couple - HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Life Insurance For Married Couples helps them to save for future, Life cover, securing their health, etc. Read more about couple insurance policy here.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'couples insurance, insurance for couples, couple insurance, life insurance for couples, life insurance for couple, couple insurance policy, couple life insurance'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:Just Married\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:Just Married\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/just-married'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'ITR Meaning'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_tile.jpg', 'id': 'n7VcTlg3TKhjcOV', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_tile.jpg', 'slug': 'just-married', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/just-married', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section5">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left">Newly married, you are looking forward to building a whole new world with your life partner. Marriage brings additional responsibilities and thus additional expenses, which may burn a hole in your pocket unless you plan your finances wisely.</p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<div class="description">\n<p style="padding-right:30px;"><script type="text/javascript">(function (d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/all.js#xfbml=1"; fjs.parentNode.insertBefore(js, fjs); }\r\n(document, \'script\', \'facebook-jssdk\'));</script></p>\n</div>\n</div>\n\n<div class="rating-wrp" style="display: none">\n<div class="IconRating">\n<div class="IconRatingSummaryText">Rated \n<div class="IconRatingAverageRatingValueText" id="C_1374164394256_AverageRatingValueTextDiv">3.5</div>\n/5 (\n\n<div class="IconRatingCountValueText" id="C_1374164394256_IconRatingCountValueTextDiv">124</div>\n Votes)</div>\n\n<div class="IconRatingInnerContainer">\n<div class="IconRatingSelector" id="C_1374164394256_div"> </div>\n</div>\n</div>\n<script language="JavaScript">\r\nvar rc = new IconRatingSelector(\'C_1374164394256\', \'/iwov-resources/image/index/star-on.png\', \'/iwov-resources/image/index/star-off.png\', \'/iwov-resources/image/index/star-on.png\', \'/iwov-resources/image/index/star-off.png\', \'/hdfclifeprod/insurancemanager/just_married/1374164394256.ajax?=\');\r\n\r\nrc.setEnabled(true);\r\n </script></div>\n</div>\n\n<div class="inner-plans-wrp generic ">\n<h3><strong>Your Insurance Needs</strong></h3>\n\n<ol class="markers mrgn-left0 pad-bottom10 mrgn-top10 list-check">\n\t<li><strong>Saving for future needs</strong>\n\n\t<p>This is the stage in life where you need to set aside a regular savings for your family's future needs. This may be for immediate needs such as car or vacation or for buying your dream house.</p>\n\t</li>\n\t<li><strong>Life Cover</strong>\n\t<p>With marriage comes the responsibility of securing your partner's life. A good <a href="/insurance-plans" target="_blank" title="Life Insurance Plans">life insurance plan</a> can ensure that your partner is financially secure, no matter what.</p>\n\t</li>\n\t<li><strong>Secure your health</strong>\n\t<p>With time and age on your side, it would be ideal to provide a cushion for any health contingencies that you or your family may face in the future.</p>\n\t</li>\n</ol>\n\n<p> </p>\n\n<h3><strong>Similar Articles</strong></h3>\n\n<ul>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/young-single" target="_blank" title="Insurance Plans for Young Single">Insurance Plans for Young Single</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/married-with-children" target="_blank" title="Insurance Plans for Married with Children">Insurance Plans for Married with Children</a></li>\n\t<li><a href="https://onlineinsurance.hdfclife.com/?source=W_TC_HP_LHS_EFU" target="_blank" title="HDFC Life Sanchay - Savings Plan Calculator">HDFC Life Sanchay - Savings Plan Calculator</a></li>\n\t<li><a href="http://blog.hdfclife.com/women-sense-insufficiency-in-their-financial-plan-532140" target="_blank" title="Women Sense Insufficiency in their Financial Plan">Women Sense Insufficiency in their Financial Plan</a></li>\n</ul>\n\n<p>Also, Write special messages for your loved ones and leave behind a secure future for them on <a href="http://memories.hdfclife.com" target="_blank" title="HDFC Life Memories">memories.hdfclife.com</a></p>\n</div>\n</div>\n</div>\n</article>\n</div>\n</div>', 'title': 'Insurance Needs of Just Married Couples', 'image': {'banner': 'n7VcTlg3TKhjcOV'}, 'excerpt': 'Newly married, you are looking forward to building a whole new world with your life partner. Marriage brings additional responsibilities and thus additional expenses, which may burn a hole in your pocket unless you plan your finances wisely.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 4093, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-07T06:19:00Z'}, {'id': 60, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Features and Benefits of Insurance You Must Know | HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Understand the need & advantages of life insurance & how it plays the dual role of savings & security in human life. To know more about life Insurance, Visit Now!'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'benefits of life insurance, need of insurance, benefits of insurance, life insurance policy, why is insurance important'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:Need For Insurance\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:Need For Insurance\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/need-for-insurance'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Term Insurance Meaning'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_tile.jpg', 'id': 'NHs1ROzIjpqDIYK', 'url': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_tile.jpg', 'slug': 'benefits-and-need-for-insurance', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/benefits-and-need-for-insurance', 'content': '<p class="float-left">A wide range of vehicles are available to fund future financial goals. These could be low risk-low return instruments like bank deposits and small savings, or higher risk products such as equity, which can offer potentially higher returns. Insurance scores over other investment vehicles in a number of aspects</p>\n\n<h2 class="img-wrp" style="text-align: left;"><strong>Life Insurance for Future Goal Planning</strong></h2>\n\n<ul>\n\t<li>\n\t<h3><strong>Certainty</strong></h3>\n\n\t<p>Once a goal has been identified and a value for it has been crystallized, a <a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/what-is-life-insurance/" target="_blank">life insurance policy</a> is an excellent vehicle to fund the goal. This is because one can be rest assured that even in the unfortunate event of death or even critical illness, the sum assured will fund a future goal of the policyholder.</p>\n\t</li>\n\t<li>\n\t<h3><strong>Tax efficient</strong></h3>\n\n\t<p>Maturity benefits of most insurance policies are tax free under Section 10 (10D) and the premium paid is eligible for deduction under Section 80C of the Income Tax Act, 1961.</p>\n\t</li>\n\t<li>\n\t<h3><strong>Flexibility</strong></h3>\n\n\t<p>Insurance products, especially Unit Linked Plans, provide flexibility in terms of asset allocation to suit specific risk appetites, policy durations, premium payment terms and fund switching options.</p>\n\t</li>\n\t<li>\n\t<h3><strong>Wider options</strong></h3>\n\n\t<p>Depending on the time horizon of the goal, the return required and the investor's risk appetite, a broad spectrum of asset allocations between equity and debt is possible in a Unit Linked Plan. An investor may tailor his policy to suit his requirement.</p>\n\t</li>\n\t<li>\n\t<h3><strong>Liquidity</strong></h3>\n\n\t<p>Most Insurance products offer good liquidity after the lock-in period to take care of any emergency requirement of funds. But they do have inherent deterrents in the form of charges to discourage unnecessary encashment.</p>\n\t</li>\n\t<li>\n\t<h3><strong>Earmarking</strong></h3>\n\n\t<p>Very often an insurance policy is taken for a specific goal. This therefore can become a deterrent against utilizing these funds for any other purpose and also encourages continued contributions.</p>\n\t</li>\n</ul>\n\n<h2><strong>Insurance for Financial Security</strong></h2>\n\n<p>Insurance helps you to provide for contingent liabilities like hospitalization, critical illness, debt redemption, etc. in a cost efficient manner.</p>\n\n<ul class="markers mrgn-left0 pad-bottom10 mrgn-top10 list-check">\n\t<li>\n\t<h3><strong>Term insurance</strong></h3>\n\n\t<p><a href="/term-insurance-plans" target="_blank">Term insurance</a> is the simplest form of life cover, which pays the sum assured on death. This is useful to simply provide for a family's survival in the unfortunate event of demise of the bread winner. This can also be used to cover repayment of any debt of a policy holder by simply assigning the policy to the creditor. Upon maturity or claim on the policy, the proceeds are paid to the creditor. Loan Cover policies are a variant where the sum assured keeps reducing in line with the loan balance.</p>\n\t</li>\n\t<li>\n\t<h3><strong><a href="/health-insurance-plans" target="_blank">Health insurance</a></strong></h3>\n\n\t<p>These policies provide cover against major health care expenses like hospitalization, surgery, critical illness, etc. The benefits could be in the form of fixed pay-outs on hospitalization or a lump sum on diagnosis against some specified critical illnesses.</p>\n\t</li>\n\t<li>\n\t<h3><strong>Accident benefit</strong></h3>\n\n\t<p>This is usually an add-on cover over a basic policy and pays an additional sum assured to the beneficiary in case of death due to accident. Since accidental death is sudden and unforeseen, the family could be faced with issues like relocation, debt servicing and other requirement for funds.</p>\n\t</li>\n</ul>\n\n<h2><strong>Retirement Planning</strong></h2>\n\n<p>Indian life expectancy has improved dramatically over the years due to availability of advanced medical facilities. However, a longer working life may not really be possible due to occurrences of life-style induced illness and high burn-out rate. The evolving demographic balance with plenty of young talent becoming continuously available may also be a deterring factor to a longer working life unless one is self-employed.</p>\n\n<p>Consequently, our retirement life span could well be as long as our active working life span. This means that we have to build a solid corpus during our active life to maintain our life style for the long post retirement life if we are to enjoy the true meaning of the word "retirement". <a href="/retirement-and-pension-plans" target="_blank">Pension Plans</a> help us build up our savings during our earning years and provide us a lump sum on retirement. This lump sum can then provide us a retirement income by investing in an annuity.</p>\n\n<h2><strong>Provide Post Retirement Income</strong></h2>\n\n<p>The worst situation that a retiree can face is to run out of funds late into retirement. Such a situation may force him to seek help from friends / relatives or liquidate his fixed assets which essentially are a compromise of self-respect. This is where insurance offers the best solution in the form of an annuity. Annuities bought from the retirement corpus can either be used to provide regular post retirement income for a fixed term or for the entire life.</p>\n\n<p>A <a href="/retirement-and-pension-plans/click-2-retire" target="_blank" title="Pension Scheme">pension scheme</a> may be broadly divided into two phases, namely accumulation (pre-retirement) and distribution or consumption (post-retirement). In the above graph*, we assume a 30-year old who plans to retire at the age of 60 years and expects to live till the age of 80 years. His accumulation phase is between the age of 30 and 60 years when he builds his retirement corpus and distribution phase is between the age of 60 and 80 years when he drfaws down this corpus for his living. <a href="/retirement-and-pension-plans" target="_blank">Pension Plans</a> ensure that the distribution phase of your life is as comfortable as your earning years.</p>\n\n<p>* This is only to explain the point and the figures are not based on any calculation.</p>\n\n<h2><strong>Insurance as Inflation Shield</strong></h2>\n\n<p>Inflation lowers the purchasing power of money and makes a dramatic cumulative impact over the long term. It reduces our real income year after year as our cost of living keeps increasing. So, it must be taken into account while framing financial goals.</p>\n\n<p>The following illustration depicts the impact of inflation on income and prices.</p>\n\n<p>Insurance products such as <a href="/insurance-knowledge-centre/about-life-insurance/what-is-ulip-plans/" target="_blank" title="Unit Linked Insurance Plans">Unit Linked Plans</a> help us combat the impact of inflation on our financial goals by providing the option to invest in equity, which is known to deliver one of the best returns from all asset classes, over the long term. Ignoring inflation would result in our savings falling short of the estimated value of future goals, especially over the long term.</p>\n\n<h3><strong>Similar Articles</strong></h3>\n\n<ul>\n\t<li><a href="/insurance-plans" target="_blank" title="Insurance Plans">Life Insurance Plans</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/type-of-insurance" target="_blank" title="Types of Insurance">Types of Insurance</a></li>\n\t<li><a href="https://onlineinsurance.hdfclife.com/buy-online-term-insurance-plans/click-2-protect-plus?source=W_KC_BodyLinks_T2P" target="_blank" title="HDFC Life Click2Protect Term Plan Calculator">HDFC Life Click2Protect Term Plan Calculator</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/right-insurance-plan" target="_blank" title="How do I choose and decide on the right plan?">How do I choose and decide on the right plan?</a></li>\n\t<li><a href="/insurance-knowledge-centre/compare-life-insurance-plans/health-insurance-comparison/" target="_blank" title="Compare Health Plans and Policies">Health Insurance Comparison</a></li>\n\t<li><a href="http://blog.hdfclife.com/advantages-of-online-life-insurance-532220" target="_blank" title="Insurance, Just a Click Away!">Insurance, Just a Click Away!</a></li>\n</ul>\n\n<h3><strong>Related Articles</strong></h3>\n\n<ul>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/how-to-choose-right-plan" target="_blank">Tips to Choose the Best Insurance Policy</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/life-insurance-necessary-for-long-term-financial-security" target="_blank">Click 2 Protect Health, Benefits</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/advantages-of-buying-life-insurance-early" target="_blank">Advantages of Buying Insurance Early</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/10-reasons-why-you-need-to-invest-in-life-insurance" target="_blank">10 Reasons Why You Need to Invest in Life Insurance</a></li>\n</ul>\n\n<p style="text-align: center;"><a class="nav-btn red-btn" href="https://www.hdfclife.com/online-life-insurance-plans" rel="noopener" style="position: relative; color: #fff; background: #d51d25; border-radius: 2px; vertical-align: middle; font: 14px \'Source Sans Pro\'; font-weight: 600; padding: 10px 20px; margin-right: 8px; margin-left: 0;" target="_blank">Buy Life Insurance Plans</a></p>', 'title': 'Advantages of Insurance - Types and Benefits', 'image': {'banner': 'NHs1ROzIjpqDIYK'}, 'excerpt': 'A wide range of vehicles are available to fund future financial goals. These could be low risk-low return instruments like bank deposits and small savings, or higher risk products such as equity, which can offer potentially higher returns. Insurance scores over other investment vehicles in a number of aspects.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 7730, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-04T12:16:05Z'}, {'id': 64, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Tips for Reducing your Life Insurance Premiumtips-on-reducing-premiums - HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': "Life Insurance Tips - What if you don't have the money to pay for your life insurance premiums? Learn tips from HDFC Life for reducing the life insurance premium"}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'life insurance plan, life insurance for retirement, tax benefits, retirement planning'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:Tips on Reducing Premiums\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:Tips on Reducing Premiums\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/tips-on-reducing-premiums'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Monthly Income Payout in Term Insurance'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_tile.jpg', 'id': 'OwdSmjW4K2VPkwA', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_tile.jpg', 'slug': 'tips-on-reducing-premiums', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/tips-on-reducing-premiums', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section9">\n<div class="term-assurance">\n<p class="float-left">It is not possible to negotiate the basic premium rates offered by insurance companies. However, by keeping the following points in mind, you can surely reduce the costs incurred on premiums.</p>\n\n<h3>Tips on reducing premium</h3>\n</div>\n</article>\n</div>\n</div>\n\n<p><script language="JavaScript">\r\nvar rc = new IconRatingSelector(\'C_1374164394306\', \'/iwov-resources/image/index/star-on.png\', \'/iwov-resources/image/index/star-off.png\', \'/iwov-resources/image/index/star-on.png\', \'/iwov-resources/image/index/star-off.png\', \'/hdfclifeprod/insurancemanager/reducing_premium/1374164394306.ajax?=\');\r\n\r\nrc.setEnabled(true);\r\n </script></p>\n\n<div class="inner-plans-wrp generic ">\n<ul class="markers mrgn-left0 pad-bottom10 mrgn-top10 list-check">\n\t<li><strong>Mode of Premium payment as annual</strong>\n\n\t<p>Choosing the annual mode of payment reduces the premium cost. <a href="/" target="_blank" title="Life Insurance Company in India">Insurance companies</a> add extra charges to cover additional costs incurred by them if you pay multiple premium rather than a single yearly premium. These additional charges increase insurance cost thus ultimately increasing your premium amount.</p>\n\t</li>\n\t<li><strong>Start at a young age</strong>\n\t<p>The premium of <a href="/insurance-plans" target="_blank" title="Insurance Plans in India by HDFC Life">insurance plans</a> increases with age. At a young age, you are medically fit and physically sound. This helps in reducing the insurance cost and in turn reduces your premium amount.</p>\n\t</li>\n\t<li><strong>Tenure of the policy</strong>\n\t<p>The longer the term of the policy, lower will be the premium. Longer duration polices allow you to build the required corpus with smaller premiums.</p>\n\t</li>\n\t<li><strong>Do not take riders that you do not need</strong>\n\t<p>Additional benefits on policies come with additional charges and increase your cost of premium. You can lower premium costs by opting only for those riders that you actually need.</p>\n\t</li>\n\t<li><strong>Keep yourself Fit</strong>\n\t<p>Health related issues, disability problems, smoking and drinking habits, risky lifestyle, all add to the insurance cost thus increasing insurance premium. Keep yourself healthy and fit to get the benefit of lower insurance premiums.</p>\n\t</li>\n</ul>\n\n<h3><strong>Similar Articles</strong></h3>\n\n<ul>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/best-long-term-investment-options-in-2015" target="_blank" title="Long Term Investment Options">Best Long Term Investment Options</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/best-short-term-investment-options-in-2015" target="_blank" title="Short Term Investment Plans">Best Short Term Investment Options</a></li>\n\t<li><a href="/insurance-knowledge-centre/tax-saving-insurance/tax-saving-investments-in-2015/" target="_blank" title="Tax Saving Plans and Options">Best Tax Saving Investment Plans</a></li>\n</ul>\n</div>\n\n<p> </p>\n\n<p class="Separator"> </p>', 'title': 'Tips for Reducing your Life Insurance Premiumtips-on-reducing-premiums', 'image': {'banner': 'OwdSmjW4K2VPkwA'}, 'excerpt': 'It is not possible to negotiate the basic premium rates offered by insurance companies. However, by keeping the following points in mind, you can surely reduce the costs incurred on premiums.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 2192, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-07T04:47:00Z'}, {'id': 70, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Types and Features of Life Insurance You Must Know | HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Choosing from the different types of life insurance in India is a crucial decision. Read to know the types & features of life insurance you should know about!'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'types of insurance, types of life insurance, types of insurance policies, insurance types, what is life insurance, what is life insurance policy'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:Types of Insurance\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:Types of Insurance\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/type-of-insurance'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'HDFC Life Click 2 Protect Plus'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/term_insurance_commparision_874-X-364.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/term_insurance_commparision_874-X-364_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/term_insurance_commparision_874-X-364_tile.jpg', 'id': 'KeylUdbBQkcMFl0', 'url': 'https://brandsite-static.hdfclife.com/media/image/term_insurance_commparision_874-X-364.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/term_insurance_commparision_874-X-364_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/term_insurance_commparision_874-X-364_tile.jpg', 'slug': 'type-of-life-insurance', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/type-of-life-insurance', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section3">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<h2><strong>What is a Life Insurance Policy?</strong></h2>\n\n<p>A life insurance policy is a contract with an insurance company. In this policy, a person has to make regular payments<strong>(known as premiums)</strong>to the insurance company in order to receive a sum of money that will be paid to them after a period of time, or to their family, in case of the policyholder’s death, or if the policy matures. Typically, this type of policy is chosen based on your needs and goals.</p>\n\n<h2><big><strong>Different Types of Life Insurance Policies in India:</strong></big></h2>\n\n<p>There are two basic types of life insurance policies:</p>\n\n<h3>1.) Traditional Whole Life</h3>\n\n<p>A Whole Life Policy is a policy in which you pay till death of the policy holder</p>\n\n<h3>2.) Term Life Insurance</h3>\n\n<p>A Term Life Insurance is a policy for a fixed amount of time.</p>\n\n<p> </p>\n\n<table align="Center" border="1" width="100%">\n\t<tbody>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t<p>Sr No.</p>\n\t\t\t</td>\n\t\t\t<td>\n\t\t\t<p><strong>Type of Insurance Policy</strong></p>\n\t\t\t</td>\n\t\t\t<td>\n\t\t\t<p><strong>Features</strong></p>\n\t\t\t</td>\n\t\t</tr>\n\t\t<tr>\n\t\t\t<td>  1</td>\n\t\t\t<td>\n\t\t\t<p><a href="https://www.hdfclife.com/term-insurance-plans" target="_blank"><strong>Term Life Insurance</strong></a></p>\n\t\t\t</td>\n\t\t\t<td>Term insurance is a life insurance product offered by an insurance company which offers financial coverage to the policy holder for a specific time period.</td>\n\t\t</tr>\n\t\t<tr>\n\t\t\t<td>  2</td>\n\t\t\t<td>\n\t\t\t<p><a href="https://www.hdfclife.com/insurance-plans" target="_blank"><strong>Whole Life Policy</strong></a></p>\n\t\t\t</td>\n\t\t\t<td>The policyholder pays regular premiums until his death, upon which the corpus is paid out to the family.</td>\n\t\t</tr>\n\t\t<tr>\n\t\t\t<td>  3</td>\n\t\t\t<td>\n\t\t\t<p><a href="https://www.hdfclife.com/savings-investment-plans" target="_blank"><strong>Endowment Plans</strong></a></p>\n\t\t\t</td>\n\t\t\t<td>Endowment plans pay out the sum assured under both scenarios - death and survival</td>\n\t\t</tr>\n\t\t<tr>\n\t\t\t<td>  4</td>\n\t\t\t<td>\n\t\t\t<p><a href="https://www.hdfclife.com/savings-investment-plans/click-2-invest-ulip-plan" target="_blank"><strong>Unit Linked Insurance Plans</strong></a></p>\n\t\t\t</td>\n\t\t\t<td>ULIP is a life insurance product, which provides risk cover for the policy holder along with investment options to invest in any number of qualified investments.</td>\n\t\t</tr>\n\t\t<tr>\n\t\t\t<td>  5</td>\n\t\t\t<td>\n\t\t\t<p><a href="https://www.hdfclife.com/savings-investment-plans/super-income-plan" target="_blank"><strong>Money Back Policy</strong></a></p>\n\t\t\t</td>\n\t\t\t<td>Money back plan is a life insurance product as well as an investment plan which provides life insurance cover against death of the policy holder along with periodic returns as a percentage of sum assured.</td>\n\t\t</tr>\n\t</tbody>\n</table>\n\n<p> </p>\n\n<h2><a href="https://www.hdfclife.com/term-insurance-plans" target="_blank">Term insurance</a></h2>\n\n<p><a href="/term-insurance-plans" target="_blank" title="Term Insurance Policy">Term plans</a> are the most basic type of life insurance. They provide life cover with no savings / profits component. They are the most affordable form of life insurance as premiums are cheaper compared to other <a href="https://www.hdfclife.com/insurance-plans" target="_blank">life insurance plans.</a></p>\n\n<p>Online term insurance plans provide pure risk cover, which explains the lower premiums. A fixed sum of money - the sum assured – is paid to the beneficiaries if the policyholder expires over the policy term. If the policyholder survives, there is no pay out.</p>\n\n<h2>Endowment plans</h2>\n\n<p>Endowment plans differ from term plans in one critical aspect i.e. maturity benefit. Unlike term plans which pay out the sum assured, along with profits, only in case of an eventuality over the policy term, endowment plans pay out the sum assured under both scenarios – death and survival. However, endowment plans charge higher fees / expenses – reflected in premiums – for paying out sum assured, along with profits, in either scenario – death or maturity. The profits are an outcome of premiums being invested in asset markets – equities and debt.</p>\n\n<h2><a href="https://www.hdfclife.com/savings-investment-plans/click-2-invest-ulip-plan" target="_blank">Unit linked insurance plans (ULIP)</a></h2>\n\n<p>ULIPs are a variant of the traditional endowment plan.They pay out the sum assured (or the investment portfolio if its higher) on death/maturity.</p>\n\n<p>ULIPs differ from traditional endowment plans in certain areas. As the name suggests, performance of <a href="https://www.hdfclife.com/ulip-plans" target="_blank">ULIP</a> is linked to markets. Individuals can choose the allocation for investments in stock/debt markets. The value of the investment portfolio is captured by the <strong>NAV</strong> (net asset value). To that end, there are many similarities between ULIPs and mutual funds. ULIPs differ in one area, they are a combination of investment and insurance, while mutual funds are a pure investment avenue</p>\n\n<h2>Whole life policy</h2>\n\n<p>A <a href="/savings-investment-plans/sampoorn-samridhi-plus-whole-life-insurance-plan" target="_blank" title="Whole Life Insurance Policy">whole life insurance</a> policy covers a policyholder over his life. The main feature of a whole life policy is that the validity of the policy is not defined so the individual enjoys the life cover throughout his life. The policyholder pays regular premiums until his death, upon which the corpus is paid out to the family. The policy expiresonly in case of an eventuality as there is no pre-defined policy tenure.</p>\n\n<h2>Money back policy</h2>\n\n<p>A <a href="/insurance-knowledge-centre/about-life-insurance/type-of-insurance/www.hdfclife.com/savings-investment-plans/super-income-plan" target="_blank" title="Money Back Plan">money back policy</a> is a variant of the endowment plan. It gives periodic payments over the policy term. To that end, a portion of the sum assured is paid out at regular intervals. If the policy holder survives the term, he gets the balance sum assured. In case of death over the policy term, the beneficiary gets the full sum assured.</p>\n\n<h3><strong>Similar Articles</strong></h3>\n\n<p>1.) <a href="/insurance-knowledge-centre/about-life-insurance/need-for-insurance/" target="_blank" title="Need & Importance of Life Insurance">Need of Life Insurance</a></p>\n\n<p>2.) <a href="http://blog.hdfclife.com/understanding-different-categories-of-life-insurance-policy-532280" target="_blank" title="3 Categories of Life Insurance Plans">Categories Of Life Insurance Policies</a></p>\n\n<p>3.) <a href="/insurance-knowledge-centre/about-life-insurance/how-to-buy-term-insurance-online/" target="_blank" title="Online Term Plan Buying Guide">How To Buy Term Insurance Plans Online</a></p>\n\n<p>4.) <a href="https://www.hdfclife.com/term-insurance-plans/click-2-protect-life" target="_blank" title="HDFC Life Click2Protect Plus - Online Term Life Insurance Plan">HDFC Life Click 2 Protect Life</a></p>\n\n<p>5.) <a href="/insurance-knowledge-centre/tax-saving-insurance/tax-planning-tips-for-salaried-employees/" target="_blank" title="Tax Saving Tips for Salaried Employees">Tax Planning for Salaried Employees</a></p>\n\n<p>6.) <a href="/insurance-knowledge-centre/investment-for-future-planning/best-long-term-investment-options-in-2015" target="_blank" title="Long Term Investment Options for 2015">Long Term Investment Options</a></p>\n\n<p>7.) <a href="/insurance-knowledge-centre/investment-for-future-planning/best-short-term-investment-options-in-2015" target="_blank" title="Short Term Investment">Short Term Investment Options</a></p>\n</div>\n</div>\n\n<h3><strong>Related Articles</strong></h3>\n\n<ul>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/what-is-life-insurance" target="_blank">What Is Life insurance?</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/how-to-choose-right-plan" target="_blank">Tips to Choose the Best Insurance Policy</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/why-life-insurance-is-important" target="_blank">Life Insurance is Important: Life Insurance Success Stories</a></li>\n</ul>\n\n<p class="Separator"> </p>\n</article>\n</div>\n</div>\n\n<center><a class="btn btn-primary btn-fulid accDCont" href="https://onlineinsurance.hdfclife.com/portal.do?_portalid=ops_c2pp3d_v2&_pageid=ops_c2pp3d_v2_quotePage&ocpseqno=1&prodcd=C2P3DP&categcd=PROT&name=HDFC%20Life%20Click%202%20Protect%203D%20Plus&link=&source=KC_LITF_C2P3D_CalcP&agentcode=00399206&tabName=c2pp-3d_calculate_premium_v2\n" style="text-align: center;width: 55%;min-width:320px;font-size: 20px;text-transform: none;background-color: #d51d25;border-color: #d51d25;" target="_blank">Secure yourself now! </a></center>', 'title': 'Life Insurance Policy - Types and Features', 'image': {'banner': 'KeylUdbBQkcMFl0'}, 'excerpt': 'Learn about different types and features of life insurance policy and plans. Learn about Term life insurance, whole life policy, Endowment plans, Unit linked insurance plans and Money back policy,etc', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 148598, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-07T04:55:03Z'}, {'id': 73, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Life insurance'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Life Insurance Definition: Clear your basics of life insurance that helps you understand & choose the right type of insurance policy to best meet your needs.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'Life insurance, life insurance policy, types of life insurance, what is life insurance'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:What Is Life Insurance\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:What Is Life Insurance\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/what-is-life-insurance'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'head tag script', 'slug': 'head-tag-script', 'value': '<script type = "application/ld+json" > \n{\n "@context": "https://schema.org",\n "@type": "FAQPage",\n "mainEntity": [{\n "@type": "Question",\n "name": "&#9989 Is life insurance necessary?",\n "acceptedAnswer": {\n "@type": "Answer",\n "text": "Life insurance is basically an arrangement where you agree to pay premiums in return for a lump sum that takes care of any financial requirements you or your dependents may encounter, either after your death or your policy’s maturity.\\n\\nThe lump sum taking care of future financial goals is a benefit. Benefits accruing on death of the insured are death benefits, those on survival of the policyholder are called maturity benefits.\\n\\nLife insurance helps meet financial goals that are either foreseeable or urgent, especially in case of death of a benefactor or parent.\\n\\nMost people perceive life insurance as a back up to tide over a crisis that may leave dependents in a financial lurch, which is a limited view.\\n\\nTaken in a broader sense, life insurance via maturity benefit can be used to foot the expenses such as your child’s graduation expenses, servicing a home loan, purchasing a car, to name a few.\\n\\nWhether or not you need life insurance will depend on you or the dependents’ financial goals or requirements the money required for fulfillment of these requirements and other factors."\n }\n }, {\n "@type": "Question",\n "name": "&#9989 What is an ideal life insurance cover?",\n "acceptedAnswer": {\n "@type": "Answer",\n "text": "There is no one glove fits all solution when it comes to how much life insurance each person needs. However, the generally acceptable strategy to assess your insurance cover is to get 10 to 18 times your annual income; depending on what age you subscribe to an insurance policy. \\n\\nThe amount of insurance cover you need depends on how many people are exposed to a financial risk which may arise due to death or some kind of contingency. The cover should be such that the dependents should be able to at least survive in your absence to a satisfactory level until such time they are self-reliant.\\n\\nIt is a good idea to make a financial requirement analysis based on not your current needs but also projection of your future needs. Since financial goals differ from person to person and so do spending patterns, it is important to take these and also your assets and liabilities when making such an assessment.\\n\\nAnother way to determine how much insurance you need is to use the human life value method. This says that an estimate of how much insurance you need changes according to what your economic value or net worth is. This varies with every individual as not only current net worth but future ones too are taken into account."\n }\n }, {\n "@type": "Question",\n "name": "&#9989 How much will life insurance cost me?",\n "acceptedAnswer": {\n "@type": "Answer",\n "text": "The purpose of life insurance is mainly two fold - first to provide financial protection to enable your dependents eke out a reasonable living in the event of your death, and the second to help you meet your financial needs and goals in the future should you survive till the maturity of the policy.\\n\\nWhether you consider the death or maturity benefit of life insurance, how much life insurance you need will depend on your age at entry, how many dependents you have, the type of financial goals you have for the long term, inflation and other determinants.\\n\\nLife insurance should not be judged in terms of return on value of investment but as a shock absorber that would help your family absorb the impact should a financially dire situation ensue in case of your death. It thus helps your family rely on an alternative source of funds left by you. It also enables you meet your financial goals by considerably reducing your out of pocket damages.\\n\\nSome key factors affecting the cost of life insurance are age and inflation. As you age, premiums become costlier and are also affected by the rate of inflation and other factors. This is the reason you should start young when subscribing to an insurance policy. Just to put this in clearer perspective, a 30 year old person opting for a cover would need to pay considerably less premium, than a 40 year old who was opting for the same."\n }\n }, {\n "@type": "Question",\n "name": "&#9989 At what age should I buy life insurance?",\n "acceptedAnswer": {\n "@type": "Answer",\n "text": "A vital aspect to note is that it is better to buy life insurance when you are relatively younger and healthier. As you age, the statistical probability of you dying increases and so do your premiums. Starting with low priced contributions helps you to be adequately covered or protected even at a later stage in life with minimal costs. It can also help meet many of your financial goals should you survive the term of the policy.\\n\\nThe optimal age range to buy life insurance in India is between25 to 40 years of age. If you can start earlier, it would be even better, but on an average, people don’t have income to pay for their premium since they are not working before they turn 25. The earlier you start on the 25 to 40 age spectrum, the better and more cost efficient buying life insurance turns out to be.\\n\\nWhile individuals up to the age of 40 should choose a life insurance cover roughly 15 to 20 times their income, those between 40 and 50 should go for protection amounting to 10 to 15 times their annual income while those above 50 should aim for security five times their annual income.\\n\\nStarting younger also helps you leverage the power of compounding since you are paying premiums for a considerably longer length of time."\n }\n }]\n}\n</script>'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Compare Retirement and Pension Plans'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_tile.jpg', 'id': 'LliizKngfXf9iEf', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_tile.jpg', 'slug': 'what-is-life-insurance', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/what-is-life-insurance', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section12">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p><a href="https://www.hdfclife.com/term-insurance-plans/click-2-protect-life" target="_blank">Life insurance </a> is a contract between a policyholder and an insurance company, where in exchange for regular premiums the insurance company promises to pay a lump sum amount to the beneficiaries on the death of the insured.</p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<div class="description">\n<p style="padding-right:30px;"><script type="text/javascript">\n (function (d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/all.js#xfbml=1"; fjs.parentNode.insertBefore(js, fjs); }\n (document, \'script\', \'facebook-jssdk\'));</script></p>\n</div>\n</div>\n</div>\n\n<div class="inner-plans-wrp generic ">\n<h2><strong>How insurance can be useful</strong></h2>\n\n<p><a href="/insurance-plans" target="_blank" title="Life Insurance Plans in India by HDFC Life">Insurance</a> can prove advantageous in meeting several financial goals of the individual and his family. Here are some of the important ones:</p>\n\n<ul class="pad-left10 pad-bottom10 ol-list" style="text-align: justify;">\n\t<li>\n\t<p>Financial cover against loss of life, which makes sure your family can support itself in your absence</p>\n\t</li>\n\t<li>\n\t<p>Child’s education</p>\n\t</li>\n\t<li>\n\t<p>Child’s marriage</p>\n\t</li>\n\t<li>\n\t<p>Buying a house</p>\n\t</li>\n\t<li>\n\t<p>Pension or regular income post-retirement</p>\n\t</li>\n\t<li>\n\t<p>Post-retirement income for NRIs</p>\n\t</li>\n</ul>\n\n<p>These are just some of financial goals you can achieve with the help of life insurance. More importantly, life insurance plans are flexible. This means although you won’t find an insurance plan dedicated to buying a house, you can buy an endowment plan (<a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/ulip-and-conventional-plans-comparison" target="_blank">traditional or market-linked</a>) with the aim of paying for a house at a future date.</p>\n\n<h3><strong>Types of Life Insurance</strong></h3>\n\n<p>Broadly, there are five basic types of life insurance plans:</p>\n\n<ul class="pad-left10 pad-bottom10 ol-list" style="text-align: justify;">\n\t<li>\n\t<h4>Term insurance</h4>\n\t<a href="/term-insurance-plans" target="_blank" title="Term Plans by HDFC Life">Term plans</a> are the most basic form of life insurance. They provide life cover with no savings / profits component. They are the most affordable form of life insurance as premiums are cheaper compared to other life insurance plans.</li>\n\t<li>\n\t<h4>Endowment plans</h4>\n\tEndowment plans differ from term plans in one important aspect i.e. maturity benefit. Unlike term plans which pay out the sum assured, along with profits, only in case of an eventuality over the policy term, endowment plans pay out the sum assured under both scenarios – death and survival.</li>\n\t<li>\n\t<h4>Unit linked insurance plans (ULIP)</h4>\n\t<a href="https://www.hdfclife.com/ulip-plans">ULIPs are a variant of the traditional endowment plan.</a>They pay out the sum assured (or the investment portfolio if it’s higher) on death/maturity. Since ULIPs invest in stock markets they are well-suited for individuals with appetite for risk.</li>\n\t<li>\n\t<h4>Whole life policy</h4>\n\tA <a href="/savings-investment-plans/sampoorn-samridhi-plus-whole-life-insurance-plan" target="_blank" title="Sampoorn Samridhi Whole Life Insurance Plan in India by HDFC Life">whole life insurance plan</a> covers a policyholder over his life. The main feature of a whole life policy is that the validity of the policy is not defined so the individual enjoys the life cover throughout his life.</li>\n\t<li>\n\t<h4>Money back policy</h4>\n\tThis is a variant of the endowment plan. A <a href="/savings-investment-plans/super-income-plan" target="_blank" title="HDFC Life Super Income Plan - Money Back Policy">money back policy</a> gives periodic payments over the policy term. To that end, a portion of the sum assured is paid out at regular intervals. If the policy holder survives the term, he gets the balance sum assured.</li>\n</ul>\n\n<h3><strong>How much life insurance do I need</strong></h3>\n\n<p>Although, it is not possible to attach a rupee value to human life, it is nonetheless important for you to estimate the value of your life in terms of what it will take for your family members to be financially independent in your absence. In insurance parlance this is the sum assured and the financial estimate of the value of your life is called <a href="/financial-tools-calculators/human-life-value-calculator" target="_blank" title="Human Life Value Calculator">Human Life Value or HLV.</a></p>\n\n<p>Calculating the HLV involves two steps:</p>\n\n<p>The fundamental method of calculating the human life value involves two steps:</p>\n\n<ul class="pad-left10 pad-bottom10 ol-list" style="text-align: justify;">\n\t<li>\n\t<p>Add up all expenses like household expenses, lifestyle expenses among others</p>\n\t</li>\n\t<li>\n\t<p>Calculate future liabilities (like outstanding loans) that your family members will have to pay off in the event of your death.</p>\n\t</li>\n</ul>\n\n<p>Once you add the two figures, you get your human life value, which in effect is the sum assured for your life insurance policy.</p>\n\n<p><strong>Points to remember:</strong></p>\n\n<ul class="pad-left10 pad-bottom10 ol-list" style="text-align: justify;">\n\t<li>\n\t<p>There is no one-size fits all life insurance plan. Your life insurance plan does not have to be like your friend’s or colleague’s or relative’s insurance plan. Your needs and goals are different and this must reflect in your insurance plan.</p>\n\t</li>\n\t<li>\n\t<p>The earlier you start the better it is, since life insurance premiums are lower at an earlier age and begin to rise as you age</p>\n\t</li>\n\t<li>\n\t<p>Go for term plans – they are the most affordable form of life insurance which means you get a larger life cover at a lower premium</p>\n\t</li>\n\t<li>\n\t<p>Use <a href="/insurance-plans/riders-in-insurance" target="_blank" title="Life Insurance Riders">life insurance riders</a> effectively to enhance the effectiveness of your life insurance policy. A rider is an add-on to the primary policy, which offers benefits over and above the policy subject to certain conditions.</p>\n\t</li>\n\t<li>\n\t<p>Feel free to talk to an experienced and competent agent about the policy details and whether it is suited to you.</p>\n\t</li>\n</ul>\n\n<p> </p>\n\n<h2><strong>How do i choose the right Life insurance for me?</strong></h2>\n\n<p>Once you have identified the need to take life insurance, you should know about getting some basic steps right to select the best life insurance policy.</p>\n\n<h3><strong>Select the best life insurance plan/policy in 3 easy steps</strong></h3>\n\n<ul>\n\t<li><strong>Engage an insurance advisor</strong>\n\n\t<p>While this may seem trivial, engaging a reliable and competent insurance advisor at the initial stage in your quest for <a href="https://www.hdfclife.com/" target="_blank" title="life insurance">life insurance</a> is critical. Most individuals are not capacitated to take a decision by themselves and need the expertise of an insurance advisor.</p>\n\t</li>\n\t<li><strong>Calculate the life cover</strong>\n\t<p>The insurance advisor will help you calculate the amount of life cover – or the sum assured. He will assess sources of your income, number of your dependents, your debts and liabilities and your expenses based on your lifestyle and arrive at a life cover. He will also decide the best plan be it – a <a href="https://www.hdfclife.com/term-insurance-plans" target="_blank" title="Term Insurance Plans in India">term plan</a>, endowment plan, unit-link plan or a combination of plans, to help provide you with an optimum life cover. <a href="https://www.hdfclife.com/financial-tools-calculators/human-life-value-calculator">You can also check your Life insurance need with a calculator online, which is a quick and easy way to find out</a>.</p>\n\n\t<p>Likewise, if you have other needs like planning for your child’s education or marriage, pension for your retirement or a woman’s insurance plan for women, trust your advisor to do the math and come up with an ideal solution.</p>\n\t</li>\n\t<li><strong>Compare insurance plans</strong>\n\t<p>Since there are many insurance companies in the market offering a variety of plans, you need to be sure you select the most suitable one. The insurance advisor will do the homework by comparing life insurance plans from various insurers across relevant parameters recommending the most apt plan based on your needs.</p>\n\t</li>\n</ul>\n\n<p> </p>\n\n<h2><strong>What are the Benefits of Buying Life Insurance?</strong></h2>\n\n<p align="justify">Life insurance offers three major benefits, namely protection, long-term savings, and investment. Here is an insight into each of these advantages.</p>\n\n<p align="justify"><strong>1.Protection</strong></p>\n\n<p align="justify">Life is unpredictable and full of uncertainties. The risk of an untoward incident such as death cannot be eliminated. In such a situation, your family will have to face financial constraints caused by the loss of your regular income. Investing in a <a href="https://www.hdfclife.com/online-life-insurance-plans" target="_blank">life insurance plan</a> provides the safety net during such times. Your insurance provider is liable to pay the beneficiary or nominee the pre-determined death benefit, thus keeping your family protected even in your absence.</p>\n\n<p align="justify"><strong>2.Long-term savings</strong></p>\n\n<p align="justify">It is important to consider life insurance if you are seeking to make long-term savings. Such a product helps you to save systematically and build a corpus for your future. The accumulated amount may be used for multiple purposes, such as purchasing a new home, funding your child’s future education or meeting his marriage expenses, among many others. What’s more, life insurance plans <a href="https://www.hdfclife.com/savings-investment-plans/sanchay-plus">also offer regular pay-outs in the form of annuities</a>, and is therefore, an excellent method to meet your retirement goals.</p>\n\n<p align="justify"><strong>3.Investment</strong></p>\n\n<p align="justify"><a href="https://www.hdfclife.com/savings-investment-plans/click-2-invest-ulip-plan">Unit-Linked Investment Plans (ULIPs) offered by life insurance providers are primarily investment instruments.</a> This market-linked product acts as a tool to create wealth. ULIPs offer significant returns on the premiums paid towards the insurance policy. Most life insurance plans provide considerable returns during maturity, thus making it an attractive investment vehicle.</p>\n\n<p align="justify">Besides the major aforementioned advantages, life insurance plans offer a host of other benefits. You may claim tax deductions under Section 10, 80C, and 80CCC of the Income Tax Act, 1961 on the premium paid towards your insurance policy. You may also borrow a loan against your insurance plan in case of a financial crunch.</p>\n\n<p> <a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/how-to-buy-term-insurance-online" target="_blank">Buying life insurance plan</a> is a necessity. While many invest in such a plan, not all are aware of the numerous benefits it offers. Life insurance plans help your family tide over difficult times and provide them with financial support in your absence. Besides, availing of an insurance policy inculcates the habit of disciplined savings, thereby enabling you to build a good corpus. You may, therefore, opt to invest in a life insurance plan and fulfill your obligations in the best possible way.</p>\n\n<p> </p>\n\n<h2>Why should i buy Life insurance online?</h2>\n\n<p>Buying Life insurance online is fast, efficient and cost effective. Companies have assessed the needs to their clients over the years and have now made insurance available online. Below are some of the advantages of buying insurance online:</p>\n\n<p><strong>1.) Direct Buying</strong>- Customers deal with distributors when buying insurance online. Buying offline, they save the commission that would be paid to the distributor and hence it is cost effective. You eliminate the need of a third party and hence end up saving time and money.</p>\n\n<p><strong>2.) Informed deal</strong>-Whenever you decide to buy a plan, you always have an option to compare the plans in terms of benefits offered, coverage, features, claim process, renewal etc. This way one can easily weigh the pros and cons and finally can choose the right insurance plan that meets his/her needs.</p>\n\n<p><strong>3.) Access to online reviews</strong>- Customers always leave an online review about their experience with the company. You can have access to these reviews and ensure you have all the details about the product and the company before making a decision. </p>\n\n<p><strong>4.) Automated service</strong>s- The online platform isn’t restricted to sale only, instead, it is a fast and competent servicing channel at the same time. The policyholder can avail the online services like download the policy document or brochure, get prompt insurance quotes online, when the policy lapses, renew it online, pay the annual premium online, track your investments, make claim whenever required etc. You can do this independently and swiftly.</p>\n\n<p><strong>5.) Customer Suppor</strong>t- You get access to 24x7 customer support when you <a href="https://www.hdfclife.com/insurance-plans">buy insurance online</a>. The company has a chat option on their website where you can ask the staff anything. You can get clarity to doubts, or look for the policy options and pretty much have access to any information online.</p>\n\n<p>In conclusion, it makes sense to explore the option of buying insurance online, so that you save time and money and have easy access to more options. It is not cumbersome as offline process, is easier and quicker. All your paper work is also saved in the account online hence eliminating the need for print outs etc. </p>\n\n<p> </p>\n\n\n<center><a class="btn btn-primary btn-fulid accDCont" href="/#" style="text-align: center;font-size: 20px;text-transform: none;background-color: #d51d25;border-color: #d51d25;color: #fff;width:55%;min-width:320px;" target="_blank">Safeguard your families future! </a></center>\n\n<p> </p>\n\n<h2><u><strong>Frequently Asked Questions (FAQ)</strong></u></h2>\n\n<h3>✅ <strong>Is life insurance necessary? </strong></h3>\n\n<p>Life insurance is basically an arrangement where you agree to pay premiums in return for a lump sum that takes care of any financial requirements you or your dependents may encounter, either after your death or your policy’s maturity.</p>\n\n<p>The lump sum taking care of future financial goals is a benefit. Benefits accruing on death of the insured are death benefits, those on survival of the policyholder are called maturity benefits.</p>\n\n<p>Life insurance helps meet financial goals that are either foreseeable or urgent, especially in case of death of a benefactor or parent.</p>\n\n<p>Most people perceive life insurance as a back up to tide over a crisis that may leave dependents in a financial lurch, which is a limited view.</p>\n\n<p>Taken in a broader sense, life insurance via maturity benefit can be used to foot the expenses such as your child’s graduation expenses, servicing a home loan, purchasing a car, to name a few.</p>\n\n<p>Whether or not you need life insurance will depend on you or the dependents’ financial goals or requirements, the money required for fulfillment of these requirements and other factors.</p>\n\n<h3>✅ <b>What is an ideal life insurance cover?</b></h3>\n\n<p>There is no one glove fits all solution when it comes to how much life insurance each person needs.  However, the generally acceptable strategy to assess your insurance cover is to get <strong>10 to 18 times</strong> your annual income; depending on what age you subscribe to an insurance policy. </p>\n\n<p>The amount of insurance cover you need depends on how many people are exposed to a financial risk which may arise due to death or some kind of contingency. The cover should be such that the dependents should be able to at least survive in your absence to a satisfactory level until such time they are self-reliant.</p>\n\n<p>It is a good idea to make a financial requirement analysis based on not your current needs but also projection of your future needs.  Since financial goals differ from person to person and so do spending patterns, it is important to take these and also your assets and liabilities when making such an assessment.</p>\n\n<p>Another way to determine how much insurance you need is to use the <u><strong>Human Life Value</strong></u> method. This says that an estimate of how much insurance you need changes according to what your economic value or net worth is. This varies with every individual as not only current net worth but future ones too are taken into account. <a href="https://www.hdfclife.com/financial-tools-calculators/human-life-value-calculator">You should calculate your HLV</a>, to go ahead about this method</p>\n\n<h3>✅ <b>How much will life insurance cost me?</b></h3>\n\n<p>The purpose of life insurance is mainly two fold - first to provide financial protection to enable your dependents eke out a reasonable living in the event of your death, and the second to help you meet your financial needs and goals in the future should you survive till the maturity of the policy.</p>\n\n<p>Whether you consider the death or maturity benefit of life insurance, how much life insurance you need will depend on your age at entry, how many dependents you have, the type of financial goals you have for the long term, inflation and other determinants.</p>\n\n<p>Life insurance should not be judged in terms of return on value of investment but as a shock absorber that would help your family absorb the impact should a financially dire situation ensue in case of your death. It thus helps your family rely on an alternative source of funds left by you. It also enables you meet your financial goals by considerably reducing your out of pocket damages.</p>\n\n<p>Some key factors affecting the cost of life insurance are age and inflation.  As you age, premiums become costlier and are also affected by the rate of inflation and other factors. This is the reason you should start young when subscribing to an insurance policy. Just to put this in clearer perspective, a 30 year old person opting for a cover would need to pay considerably less premium, than a 40 year old who was opting for the same.</p>\n\n<h3>✅ <b>At what age should I buy life insurance?</b></h3>\n\n<p>A vital aspect to note is that it is better to buy life insurance when you are relatively younger and healthier.  As you age, the statistical probability of you dying increases and so do your premiums.  Starting with low priced contributions helps you to be adequately covered or protected even at a later stage in life with minimal costs.  It can also help meet many of your financial goals should you survive the term of the policy.</p>\n\n<p>The optimal age range to buy life insurance in India is between<strong> 25 to 40</strong> years of age. If you can start earlier, it would be even better, but on an average, people don’t have income to pay for their premium since they are not working before they turn 25.  The earlier you start on the 25 to 40 age spectrum, the better and more cost efficient buying life insurance turns out to be.</p>\n\n<p>While individuals up to the age of 40 should choose a life insurance cover roughly <strong>15 to 20 times their income</strong>, those between 40 and 50 should go for protection amounting to <strong>10 to 15</strong> times their annual income while those above 50 should aim for security five times their annual income.</p>\n\n<p>Starting younger also helps you leverage the power of compounding since you are paying premiums for a considerably longer length of time.</p>\n\n<h3><strong>Similar Articles</strong></h3>\n\n<ul>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/type-of-insurance/" target="_blank" title="Types of Life Insurance Plans">Types of Insurance Policies</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/how-to-buy-term-insurance-online/" target="_blank" title="How to buy insurance online">How to buy Term Insurance Plans Online</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/critical-illness-insurance-comparison" target="_blank" title="Critical Illness Insurance Comparison">Compare Critical Illness Insurance</a></li>\n</ul>\n\n<p> </p>\n</div>\n</div>\n</div>\n\n<p class="Separator"> </p>\n</article>\n</div>\n</div>', 'title': 'What Is Life insurance?', 'image': {'banner': 'LliizKngfXf9iEf'}, 'excerpt': 'Life Insurance Definition: Clear your basics of life insurance that help you understand & choose the right type of insurance policy to best meet your needs.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 5931, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-07T05:27:00Z'}, {'id': 61, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'ULIP - Unit linked insurance Plan - Full Form, Meaning & Benefits in 2021'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'ULIP (full form - Unit linked Insurance Plan) is a combination of insurance plus investment, provides risk cover for the policy holder along with investment options to invest in any qualified investments'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'What is ULIP, ULIP Plans, Unit Linked Insurance Plans, Advantages of ULIP Plans'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:What is ULIP Plans\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:What is ULIP Plans\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/what-is-ulip-plans/'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'head tag script', 'slug': 'head-tag-script', 'value': '<script type="application/ld+json">\n{\n "@context": "https://schema.org",\n "@type": "FAQPage",\n "mainEntity": [{\n "@type": "Question",\n "name": " &#9989 What is a ulip and how does it work?",\n "acceptedAnswer": {\n "@type": "Answer",\n "text": "Unit Linked Insurance Plans (ULIPs) are a category of goal-based financial solutions that offer dual benefits of protection and Investment. 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Lapsing and its consequences, Other disclosures"\n }\n }, {\n "@type": "Question",\n "name": "&#9989 What are some advantages of ULIP\'s?",\n "acceptedAnswer": {\n "@type": "Answer",\n "text": "Unit linked insurance plans give you an opportunity to earn market-linked returns as part of the premiums are invested in market linked funds which invest in different market instruments including debt instruments and equity in varying proportions. Life protection, Investment and Savings Unit linked insurance plans offer the twin benefits of life insurance and savings at market-linked returns. Thus, you have the opportunity to invest your money to earn higher returns, while taking care of your protection needs. Investing in unit linked Insurance plans helps to inculcate a regular habit of saving and investing, which is important for building wealth over the long term. Flexibility HDFC Life offers different\xa0ULIP\'s (Unit Linked Insurance Plans)\xa0which are just right for you and can help you meet your specific financial objectives. The option to switch between investment funds to match your changing needs. The facility to partially withdraw from your fund, subject to charges and conditions. Single premium additions to enable the policy holder to invest additional sums of money (over and above the regular premium) as and when desired, subject to conditions."}\n }]\n }\n</script>'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Early Investment for Financial Security'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/Article 10 - August - Early Investment for Financial Security.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Article 10 - August - Early Investment for Financial Security_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Article 10 - August - Early Investment for Financial Security_tile.jpg', 'id': 'In7CjPtOvT8IvCR', 'url': 'https://brandsite-static.hdfclife.com/media/image/Article 10 - August - Early Investment for Financial Security.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/Article 10 - August - Early Investment for Financial Security_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/Article 10 - August - Early Investment for Financial Security_tile.jpg', 'slug': 'what-is-ulip-plans', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/what-is-ulip-plans', 'content': '<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section12">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix"><img alt="" src="https://brandsite-static.hdfclife.com/media/image/discalimer_ulip.png" /></div>\n\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<div class="description">\n<div class="fb_reset" id="fb-root" style="padding-right:30px;"><script>\n !function (d, s, id) { var js, fjs = d.getElementsByTagName(s)[0], p = /^http:/.test(d.location) ? \'http\' : \'https\'; if (!d.getElementById(id)) { js = d.createElement(s); js.id = id; js.src = p + \'://platform.twitter.com/widgets.js\'; fjs.parentNode.insertBefore(js, fjs); } }(document,\n \'script\', \'twitter-wjs\');\n </script>\n<div style="position: absolute; top: -10000px; width: 0px; height: 0px;">\n<div> </div>\n\n<div><iframe allow="encrypted-media" aria-hidden="true" frameborder="0" id="fb_xdm_frame_https" scrolling="no" src="https://staticxx.facebook.com/connect/xd_arbiter.php" style="border: none;" tabindex="-1" title="Facebook Cross Domain Communication Frame"></iframe></div>\n</div>\n</div>\n</div>\n</div>\n\n<div class="rating-wrp" style="display:none">\n<div class="IconRating">\n<div class="IconRatingSummaryText">Rated \n<div class="IconRatingAverageRatingValueText" id="C_1382086856830_AverageRatingValueTextDiv">4.6</div>\n/5 (\n\n<div class="IconRatingCountValueText" id="C_1382086856830_IconRatingCountValueTextDiv">839</div>\n Votes)</div>\n\n<div class="IconRatingInnerContainer">\n<div class="IconRatingSelector" id="C_1382086856830_div"> </div>\n</div>\n</div>\n<script language="JavaScript">\n var rc = new IconRatingSelector(\'C_1382086856830\', \'/iwov-resources/image/index/star-on.png\', \'/iwov-resources/image/index/star-off.png\', \'/iwov-resources/image/index/star-on.png\', \'/iwov-resources/image/index/star-off.png\', \'/hdfclifeprod/insurancemanager/what_is_ulip/1382086856830.ajax?=\');\n\n rc.setEnabled(true);\n </script></div>\n</div>\n\n<div class="blue-wrap-box">\n<h2><strong>What is ULIP (Unit Linked Insurance Plan)?</strong></h2>\n\n<p>Full form of ULIP is Unit linked Insurance Plan. ULIP’s are a combination of insurance + investment. A small portion of the money invested goes to securing your life whereas the rest of the money is invested in the market. Policyholders can pay premiums monthly/annually.    </p>\n</div>\n\n<div class="inner-plans-wrp generic ">\n<h3><strong>Introduction</strong></h3>\n\n<p class="pad-top10">In <a href="https://www.hdfclife.com/ulip-plans" target="_blank" title="Unit Linked Insurance Plans">Unit Linked Insurance Plans</a> (ULIP), the investments made are subject to risks associated with the capital markets. This investment risk in investment portfolio is borne by the policy holder. Thus, you should make your investment choice after considering your risk appetite and needs.<br />\nAnother factor that you need to consider is your future need for funds. HDFC Standard Life offers you a variety of unit-linked insurance products to suit your goals - be it for your retirement planning, for your health, for your child's education and marriage or for investment purposes.</p>\n\n<h2><strong style="\n /* color: #05396e; */\n">Which Investor Class Are They Most Suited For?</strong></h2>\n\n<ul class="markers mrgn-left0 pad-bottom10 list-check" style="text-align: justify;">\n\t<li>\n\t<h3><strong style="\n">Those who wish to closely track their investments</strong></h3>\n\tUnit linked insurance plans allow policy takers to closely monitor their portfolios. They also offer the flexibility to switch your capital between funds with varying risk-return profiles.</li>\n\t<li>\n\t<h3><strong style="\n">Individuals with a medium to long term investment horizon</strong></h3>\n\tULIPs (Unit Insurance Linked Plans) are ideal for individuals who are ready to stay invested for relatively long periods of time.</li>\n\t<li>\n\t<h3><strong style="\n">Those with varying risk profiles</strong></h3>\n\tAcross the seven funds offered, the equity component varies from zero to a maximum of 100 per cent. Thus there is a choice of funds available to all types of investors - from risk-averse investor to those investors who have strong risk appetite.</li>\n\t<li>\n\t<h3><strong style="\n">Investors across all life stages</strong></h3>\n\tThis plan category offers a variety of plans which can be opted for depending upon the life stage you are in and your needs and financial liabilities at that point in time.</li>\n</ul>\n\n<h5 style="height: 48px;font-size:30px;text-align:center;"><a href="https://onlineinsurance.hdfclife.com/buy-online-investment-plans/click-2-invest-ulip-plan?source=W_Tlink_KC_What_is_Ulip_UC1" target="_blank">Invest in ULIPs Now</a></h5>\n\n<h2><strong>How ULIP Is Structured?</strong></h2>\nIn a Unit Linked Insurance Plan (ULIP), the premiums you pay are invested in the funds chosen by you after deducting allocation charges and charges including those for managing funds,policy administration and for providing insurance cover are deducted from the funds by cancelling certain units.<br />\n<br />\nThe value of each unit of a fund is determined by dividing the total value of the fund's investments by the total number of units.\n<h2><strong>Advantages Of  ULIP?</strong></h2>\n\n<ol style="list-style-type:disc">\n\t<li>Market Linked Returns</li>\n\t<li>Life Protection Investment and Savings</li>\n\t<li>Flexibility</li>\n</ol>\n\n<ul class="markers mrgn-left0 pad-bottom10 list-check" style="text-align: justify;">\n\t<li>\n\t<h3><strong>Market linked returns</strong></h3>\n\t: Unit linked insurance plans give you an opportunity to earn market-linked returns as part of the premiums are invested in market linked funds which invest in different market instruments including debt instruments and equity in varying proportions.</li>\n\t<li>\n\t<h3><strong>Life protection, Investment and Savings</strong></h3>\n\tUnit linked insurance plans offer the twin benefits of life insurance and savings at market-linked returns. Thus, you have the opportunity to invest your money to earn higher returns, while taking care of your protection needs. Investing in unit linked Insurance plans helps to inculcate a regular habit of saving and investing, which is important for building wealth over the long term.</li>\n\t<li>\n\t<h3><strong>Flexibility</strong></h3>\n\tHDFC Life offers different <a href="https://www.hdfclife.com/savings-investment-plans/click-2-wealth-ulip-plan">ULIPs (Unit Linked Insurance Plans)</a> which are just right for you and can help you meet your specific financial objectives.\n\n\t<ul>\n\t\t<li>The option to switch between investment funds to match your changing needs.</li>\n\t\t<li>The facility to partially withdraw from your fund, subject to charges and conditions.</li>\n\t\t<li>Single premium additions to enable the policy holder to invest additional sums of money (over and above the regular premium) as and when desired, subject to conditions.</li>\n\t</ul>\n\t</li>\n</ul>\n\n<h2><strong>Features of ULIP</strong></h2>\n\n<ul class="markers mrgn-left0 pad-bottom10 list-check" style="text-align: justify;">\n\t<li>\n\t<h3><strong>Single Premium</strong></h3>\n\tThe policy holder is required to pay the entire premium amount as a lump sum at the beginning of the policy term.</li>\n\t<li>\n\t<h3><strong>Regular Premium Payment (annually, semi-annually or monthly)</strong></h3>\n\tThe policy holder has to pay the pre-determined premium amount periodically i.e. annually, semi annually or monthly, depending upon the premium payment term opted for.</li>\n\t<li>\n\t<h3><strong>Number of Premium Paying Years</strong></h3>\n\tThis depends on the term of the policy that you have chosen. In most cases, the policy term and the number of premium paying years (in case of regular premiums) are the same. However, some policies give the insured the option of choosing the number of premium paying years.</li>\n</ul>\n\n<h2><strong>Ulip Charges</strong></h2>\nThe following charges are deducted from your policy towards the cost of benefits and administration services provided by HDFC Standard Life Insurance -\n\n<ul class="markers mrgn-left0 pad-bottom10 list-check" style="text-align: justify;">\n\t<li>\n\t<h3><strong>Administration charges</strong></h3>\n\t A fee is charged for administration of your policy every month. Administration charges are deducted by cancelling units proportionately from each of the funds you have chosen.</li>\n\t<li>\n\t<h3><strong>Fund management charges</strong></h3>\n\tThese charges are towards meeting expenses related to managing the fund. This is charged as a percentage of the fund's value and is deducted before arriving at the net asset value of the fund.</li>\n\t<li>\n\t<h3><strong>Switch charges</strong></h3>\n\tYou can switch between the funds available to suit your changing needs and goals. In a policy year, a fixed number of such switches are available free of cost. Subsequent to this, each switch would attract a certain charge. These charges are deducted by cancelling units proportionately from each of the funds you have chosen.</li>\n\t<li>\n\t<h3><strong>Surrender charges</strong></h3>\n\tThese charges are levied for premature encashment of units. They are charged as a percentage of the fund value and depend on the policy year in which the policy has been surrendered.</li>\n\t<li>\n\t<h3><strong>Mortality Charges</strong></h3>\n\tDepending upon the age, and the amount of cover, these charges are levied towards providing a death cover to the insured.</li>\n\t<li>\n\t<h3><strong>Premium Allocation Charge</strong></h3>\n\tThis charge is deducted as a fixed percentage of the premium received, and is usually charged at a higher rate in the initial years of a policy. This charge varies depending upon whether the policy is a <a href="/retirement-and-pension-plans/single-premium-pension-super-plan" target="_blank" title="Single Premium One Time Investment Plan in India">single premium plan</a> or regular premium policy, the size of the premium, premium frequency and payment mode.</li>\n\t<li>\n\t<h3><strong>Partial Withdrawal Charges</strong></h3>\n\tLump sum withdrawals are allowed from the fund after the lapse of three years of the policy term and subject to pre- specified conditions. However, such withdrawals attract charges, as mentioned in the respective policy brochures.</li>\n</ul>\n\n<h3><strong>Switching Between Funds</strong></h3>\nHDFC Standard Life Insurance offers you the flexibility to switch between funds available under a unit linked Insurance plan.<br />\nYou may wish to switch between equity and debt funds, in times when there is market volatility or interest rate fluctuations. At times, changes in your financial standing, liabilities or risk profile may also require that you change your investments accordingly.\n<h3><strong>Making Withdrawals</strong></h3>\n\n<p>You may also make partial withdrawals from your funds after a certain specified period, subject to a partial withdrawal charge. The withdrawal amount should be at least the minimum prescribed withdrawal amount and the fund must not fall below the minimum fund value after the withdrawal.<br />\nYou can make a full withdrawal of your policy before its maturity date. However, surrender charges will be applicable in this case.</p>\n\n<center><a class="btn btn-primary btn-fulid accDCont" href="https://onlineinsurance.hdfclife.com/buy-online-investment-plans/click-2-invest-ulip-plan?source=W_BodyBO_KC_What_is_Ulip_UC1" style="text-align: center; width: 55%; font-size: 20px; text-transform: none;" target="_blank">Invest in ULIPs</a></center>\n\n<p> </p>\n\n<h2><strong>Benefits of ULIP</strong></h2>\n\n<p>Let’s take a look at some of the ways a <strong>ULIP plan benefits</strong> you:</p>\n\n<ol>\n\t<li>\n\t<h3>Makes Saving a Habit</h3>\n\t</li>\n</ol>\n\n<p>When you put money away in a ULIP every month, you’re making disciplined savings a habit. As we all know, putting away savings is one of the main elements of every successful long-term financial plan. When you pay regular premiums on time, you can enjoy creating wealth for yourself while securing the financial future of your loved ones.</p>\n\n<ol>\n\t<li value="2">\n\t<h3>Offers Protection</h3>\n\t</li>\n</ol>\n\n<p>One of the most significant <strong>benefits of ULIP</strong> is that it offers life cover along with investment options. So, apart from creating wealth for yourself, these plans ensure that your family will be taken care of financially if anything untoward were to happen to you.</p>\n\n<ol>\n\t<li value="3">\n\t<h3>Flexible Investments</h3>\n\t</li>\n</ol>\n\n<p>With a ULIP, you are completely in control of your finances. You can choose to switch your funds around at any point. This means that you can move your money from equity funds to balanced and debt funds or vice-versa. Additionally, you can choose to redirect future premiums to a different fund of your choice. If you’d like to invest more money later, you can top-up your ULIP. Most importantly, in certain cases, you will have the opportunity to partially withdraw some of the funds from the investment for financial emergencies.</p>\n\n<ol>\n\t<li value="4">\n\t<h3>Tax Benefits</h3>\n\t</li>\n</ol>\n\n<p>As with most other investments and life insurance products, the money you invest in your ULIP is also eligible for tax benefits. Both the premiums you pay and the returns you receive can be exempt from taxes as per Sections 80C and 10D of the Income Tax Act, 1961 respectively. Additionally, if you choose to move your money from one fund to another, you will not have to pay any additional tax.</p>\n\n<p><strong><sup>*As per Income Tax Act, 1961. Tax benefits are subject to changes in tax law.</sup></strong></p>\n\n<ol>\n\t<li value="5">\n\t<h3>Growth Potential</h3>\n\t</li>\n</ol>\n\n<p>The <strong>benefits of ULIP </strong>are countless. But, one of the reasons it continues to be a sought-after investment option is its growth potential. These plans allow you to invest in market instruments like debt and equity funds to grow your money. The returns you receive could help you achieve your long-term financial goals.</p>\n\n<ol>\n\t<li value="6">\n\t<h3>More Rewards Over Time</h3>\n\t</li>\n</ol>\n\n<p>The longer you stay invested in your ULIP, the more time you have to enjoy bonuses such as loyalty additions or wealth boosters. Once you invest, you should commit to it for the long-term.</p>\n\n<ol>\n\t<li value="7">\n\t<h3>Income Tax Benefits of ULIP</h3>\n\t</li>\n</ol>\n\n<p>You purchase a ULIP with two goals in mind. Firstly, you’d like to invest your money and grow your wealth. Secondly, you’d like to get life cover to protect the financial interests of your family. But, you can also enjoy certain <strong>ULIP tax benefits.</strong> As per the Income Tax Act, 1961, the premiums you pay are eligible for <strong>ULIP tax exemption </strong>up to INR 1,50,000 per year. To enjoy this <strong>ULIP tax benefit,</strong> you must make sure that your sum assured is at least 10 times the annual premium you pay. If this requirement is not met, the maturity benefit will not be exempt from income tax and your premium tax benefits will be covered at 10% of your total sum assured.</p>\n\n<h2><u><strong>Frequently asked questions</strong></u></h2>\n\n<h3>✅ <strong>What is a ulip and how does it work?</strong></h3>\n\n<p>Unit Linked Insurance Plans (ULIPs) are a category of goal-based financial solutions that offer dual benefits of protection and Investment. Your Unit linked Insurance Plan is linked to the capital market and offers you flexibility to invest your units in equity or debt funds depending upon your risk appetite. ULIPs are typically bought for long term capital gains and offer a protection cover too.</p>\n\n<h3>✅ <strong>What is the right time to invest in ULIPs?</strong></h3>\n\n<p>It’s always a good time to invest in ULIPs. Ideally, the earlier you start, the better it is for you. This is because you will have more time to grow your money and reach your financial goals. You can also pick the funds you’d like to invest in based on your age, risk appetite and how much you’d like to earn in returns.</p>\n\n<h3>✅ <strong>How can I maximize my ULIP returns?</strong></h3>\n\n<p>You can follow a few simple steps to maximise your returns. The steps include:</p>\n\n<ol type="a">\n\t<li>Starting early</li>\n\t<li>Investing regularly</li>\n\t<li>Paying your premiums on time</li>\n\t<li>Taking advantage of the strategies offered and investing in various funds</li>\n\t<li>Reviewing your investment portfolio every 6 months to make changes</li>\n\t<li>Adding top-ups to strengthen your investment</li>\n\t<li>Maintaining the ratio of investment to insurance to enjoy tax benefits.</li>\n</ol>\n\n<h3>✅ <strong>What is the fund value in ULIP?</strong></h3>\n\n<p>A: When you opt to purchase a ULIP, you have the opportunity to invest in various fund options based on your risk appetite and financial goals. The fund value is essentially the total monetary worth of all the fund units that you own at any given point. For example, you may hold 10,000 units. Each unit is valued at INR 20. This means your fund value is 10,000 x 20 = INR 2,00,000.</p>\n\n<h3>✅ <strong>What should one keep in mind while investing in ULIP?</strong></h3>\n\n<ol>\n\t<li>Applicable charges</li>\n\t<li>Payment on premature surrender</li>\n\t<li>Investment fund options</li>\n\t<li>Features and benefits</li>\n\t<li>Limitations and exclusions</li>\n\t<li>Lapsing and its consequences</li>\n\t<li>Other disclosures</li>\n</ol>\n\n<h3>✅ <strong>What are some advantages of ULIP's?</strong></h3>\n\n<ul>\n\t<li>\n\t<p><strong>Market linked returns</strong></p>\n\tUnit linked insurance plans give you an opportunity to earn market-linked returns as part of the premiums are invested in market linked funds which invest in different market instruments including debt instruments and equity in varying proportions.\n\n\t<p> </p>\n\t</li>\n\t<li>\n\t<p><strong>Life protection, Investment and Savings</strong></p>\n\tUnit linked insurance plans offer the twin benefits of life insurance and savings at market-linked returns. Thus, you have the opportunity to invest your money to earn higher returns, while taking care of your protection needs. Investing in unit linked Insurance plans helps to inculcate a regular habit of saving and investing, which is important for building wealth over the long term.\n\n\t<p> </p>\n\t</li>\n\t<li>\n\t<p><strong>Flexibility</strong></p>\n\t HDFC Life offers different <a href="https://www.hdfclife.com/savings-investment-plans/click-2-wealth-ulip-plan">ULIP's (Unit Linked Insurance Plans)</a> which are just right for you and can help you meet your specific financial objectives.\n\n\t<ul>\n\t\t<li>The option to switch between investment funds to match your changing needs.</li>\n\t\t<li>The facility to partially withdraw from your fund, subject to charges and conditions.</li>\n\t\t<li>Single premium additions to enable the policy holder to invest additional sums of money (over and above the regular premium) as and when desired, subject to conditions.</li>\n\t</ul>\n\t</li>\n</ul>\n\n<p> </p>\n\n<h2><strong>ULIPs from HDFC Life</strong></h2>\n\n<p>Having known the various advantages that ULIP offers, it is advisable to choose the right plan depending on your age group and the corresponding goals at various life stages.</p>\n\n<p><a href="https://www.hdfclife.com/savings-investment-plans/click-2-wealth-ulip-plan">Unit Linked Insurance Plans</a>  offer you a wide range of flexible options such as</p>\n\n<p> </p>\n\n<ul class="markers mrgn-left0 pad-top10 pad-bottom10 list-check" style="text-align: justify;">\n\t<li><strong>ULIPs for Children:</strong>\n\n\t<ul>\n\t\t<li><a href="/children-insurance-plans/youngstar-super-premium" target="_blank" title="HDFC SL YoungStar Super Premium">HDFC SL YoungStar Super Premium</a></li>\n\t</ul>\n\t</li>\n\t<li><strong>ULIPs for Savings & Investment:</strong>\n\t<ul>\n\t\t<li><a href="/savings-investment-plans/pro-growth-super-2-ulip-plan" target="_blank" title="HDFC SL ProGrowth Super II">HDFC SL ProGrowth Super II</a></li>\n\t\t<li><a href="/savings-investment-plans/pro-growth-flexi-ulip-plan" target="_blank" title="HDFC SL ProGrowth Flexi">HDFC SL ProGrowth Flexi</a></li>\n\t\t<li><a href="/savings-investment-plans/progrowth-plus-ulip-plan" target="_blank" title="HDFC Life ProGrowth Plus">HDFC Life ProGrowth Plus</a></li>\n\t\t<li><a href="/savings-investment-plans/hdfcsl-crest-ulip-plan" target="_blank">HDFC SL Crest</a></li>\n\t\t<li><a href="/savings-investment-plans/click-2-invest-ulip-plan" target="_blank" title="HDFC Life Click2Invest - ULIP">HDFC Life Click2Invest - ULIP</a></li>\n\t</ul>\n\t</li>\n\t<li><strong>Group ULIPs:</strong>\n\t<ul>\n\t\t<li>Group Unit Linked Plan Gratuity</li>\n\t\t<li>Group Unit Linked Plan Leave Encashment</li>\n\t</ul>\n\t</li>\n\t<li><strong>Woman ULIPs:</strong>\n\t<ul>\n\t\t<li><a href="/women-insurance-plans/smart-woman-ulip-plan" target="_blank">HDFC Life Smart Woman Plan</a></li>\n\t</ul>\n\t</li>\n\t<li><strong>Similar Articles</strong>\n\t<ul>\n\t\t<li><a href="/insurance-knowledge-centre/about-life-insurance/type-of-insurance" target="_blank" title="Insurance Types">Types of Life Insurance Policies</a></li>\n\t\t<li><a href="/savings-investment-plans" target="_blank" title="List of Unit Linked Insurance Plans">List of Unit Linked Insurance Plans</a></li>\n\t\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/click2invest-superulip/" target="_blank" title="HDFC Life C2I Super ULIP">What Makes HDFC Life Click2Invest a Super ULIP?</a></li>\n\t\t<li><a href="http://blog.hdfclife.com/are-ulips-suitable-investment-options-532560" target="_blank" title="ULIPs as Long Term Investment Options">Are ULIPs an Ideal Long Term Investment Option</a>?</li>\n\t\t<li><a href="/insurance-knowledge-centre/tax-saving-insurance/latest-income-tax-slab-and-deductions" target="_blank" title="Income Tax Slab">Income Tax Slab</a></li>\n\t\t<li><a href="/insurance-knowledge-centre/about-life-insurance/choose-best-term-insurance-plan-in-2015/" target="_blank" title="Best Term Insurance Policy">Best Term Insurance Plan</a></li>\n\t</ul>\n\t</li>\n</ul>\n\n<p> </p>\n</div>\n</div>\n</div>\n\n<p class="Separator"> </p>\n\n<p class="Separator"> </p>\n</article>\n</div>\n</div>', 'title': 'What is ULIP? Meaning & Full Form of ULIP', 'image': {'banner': 'In7CjPtOvT8IvCR'}, 'excerpt': 'ULIP is a life insurance product, which provides risk cover for the policy holder along with investment options to invest in any qualified investments. To know more about ULIP, Click Here', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 107695, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2021-02-12T10:05:41.251442Z'}, {'id': 79, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Insurance Needs of the Young & Single - HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'You are a single energetic twenty-something and have just kick-started your career. Secure your future from HDFC Life insurance policy.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'life insurance for unmarried, life insurance for young'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:Young Single\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:Young Single\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/young-single'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'ITR Meaning'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_tile.jpg', 'id': 'n7VcTlg3TKhjcOV', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_tile.jpg', 'slug': 'young-single', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/young-single', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet"/>\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section4">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left">You are single, energetic, in your twenties and have just kick-started your career. With the newly acquired financial independence, most of you feel more inclined to shop, travel and enjoy life. However, it is important to note that this is also the best time to take higher risks as there are least financial responsibilities.</p>\n</div>\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<h3 class="img-wrp" style="text-align: left;"><strong>Your Insurance Needs</strong></h3>\n</div>\n</div>\n<div class="inner-plans-wrp generic ">\n<ul class="markers mrgn-left0 pad-bottom10 mrgn-top10 list-check">\n<li>\n<p><strong>Saving for future expenses </strong></p>\n<p>Whether for making a down-payment for your home or for your marriage, you need a <a href="/savings-investment-plans/super-savings-plan" target="_blank" title="Super Savings Plan by HDFC Life">savings plan</a> to build a corpus for your future needs.</p>\n</li>\n<li>\n<p><strong>Tax Planning </strong></p>\n<p>Now that you are earning, you wouldn\'t want your hard earned money to just flow out of your hands. Tax planning is an important aspect of financial planning and you should draw the maximum <a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance" target="_blank">tax benefits</a> that investment products offer.</p>\n</li>\n<li>\n<p><strong>Securing your parent\'s health </strong></p>\n<p>Given their age, your parents would be vulnerable to ill health and therefore you need to plan for their medical needs as well.</p>\n</li>\n</ul>\n<p><strong>Similar Articles</strong></p>\n<ul>\n<li><a href="/insurance-knowledge-centre/about-life-insurance/just-married" target="_blank" title="Insurance Plans for Newly Married couples">Insurance Plans for Newly Married couples</a></li>\n<li><a href="/insurance-knowledge-centre/about-life-insurance/married-with-children" target="_blank" title="Insurance Plans for Married with Children">Insurance Plans for Married with Children</a></li>\n<li><a href="https://onlineinsurance.hdfclife.com/?source=W_TC_HP_LHS_EFU" target="_blank" title="HDFC Life Sanchay - Savings Plan Calculator">HDFC Life Sanchay - Savings Plan Calculator</a></li>\n<li><a href="/insurance-knowledge-centre/tax-saving-insurance/latest-income-tax-slab-and-deductions" target="_blank" title="Income Tax Slab">Income Tax Slab</a></li>\n<li><a href="/insurance-knowledge-centre/investment-for-future-planning/safe-investment-options-in-india-for-2015" target="_blank" title="Safe Investment Options in India">5 Safe Investments in India</a>\xa0<a href="http://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/types-of-online-frauds/" target="_blank" title="Online Frauds in India">Types of Online Frauds</a></li>\n</ul>\n</div>\n</div>\n</div>\n<p class="Separator">\xa0</p>\n<p class="Separator">\xa0</p>\n</article>\n</div>\n</div>', 'title': 'Insurance Needs of Young & Single', 'image': {'banner': 'n7VcTlg3TKhjcOV'}, 'excerpt': 'You are single, energetic, in your twenties and have just kick-started your career. With the newly acquired financial independence, most of you feel more inclined to shop, travel and enjoy life. However, it is important to note that this is also the best time to take higher risks as there are least financial responsibilities.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 1489, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-07T05:37:00Z'}, {'id': 37, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'How to Compare Life Insurance Quotes Online - HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Life insurance is an important part of the individual’s financial portfolio. Therefore it is important to compare life insurance quotes before buying it. To know more, Click here!'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'compare life insurance quotes online, how to compare life insurance quotes online, compare life insurance quotes'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:Life Insurance Quotes Comparison\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:Life Insurance Quotes Comparison\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/life-insurance-quotes-comparison'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Term Insurance Meaning'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_tile.jpg', 'id': 'NHs1ROzIjpqDIYK', 'url': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_tile.jpg', 'slug': 'life-insurance-quotes-comparison', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/life-insurance-quotes-comparison', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section12">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left">Life insurance is an important part of the individual’s financial portfolio. It offers financial cover to his family in his absence. This makes life insurance a priority for the breadwinner of the family.</p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<div class="description">\n<p>While life insurance offers a range of options, one plan that individuals must consider taking is the term plan. The first way is to compare insurance quotes online.</p>\n\n<h3 id="fb-root" style="padding-right: 30px;"><strong>How to compare online insurance quotes?</strong></h3>\n</div>\n</div>\n</div>\n\n<div class="inner-plans-wrp generic ">\n<p class="pad-top10">While it is easy enough to calculate insurance premium quotes given the high level of interaction, there are some points to note while calculating and comparing premiums online.</p>\n\n<p>Here is a step by step guide on comparing life insurance quotes online:</p>\n\n<ul class="pad-left10 pad-bottom10 ol-list" style="text-align: justify;">\n\t<li>Enter the sum assured you are looking for</li>\n\t<li>Enter the policy term</li>\n\t<li>Choose the premium paying term – this could be one-time, equal to the policy term or lower than the policy term</li>\n\t<li>Note down the premium amount for every insurer</li>\n\t<li>Compare the premiums but do not rush into anything – check with the insurance agent for his views on why certain quotes are high/low</li>\n</ul>\n\n<p><strong>Why online? </strong></p>\n\n<p>In this age, when time is at a premium and the internet is so easily accessible there is an easier way – log onto websites of life insurers and check the premium rates online for your specifications. About every insurance company has a website and most if not all invest a good deal of time and money to make their websites really interactive and friendly for visitors seeking online quotes or even basic plan features.</p>\n\n<p>Broadly these are the advantages of online term plans:</p>\n\n<ul class="pad-left10 pad-bottom10 ol-list" style="text-align: justify;">\n\t<li>Premium rates are usually lower as compared to offline insurance policies</li>\n\t<li>Faster turnaround – usually takes three weeks for an insurance company to revert on whether or not the policy has been approved with some cases even resulting in quicker approval</li>\n\t<li>Little to zero paperwork</li>\n\t<li>Transparency</li>\n\t<li>No need for medical checkup in certain age groups and assured sum value</li>\n</ul>\n\n<p><strong>Why term insurance plans? </strong></p>\n\n<ul class="pad-left10 pad-bottom10 ol-list" style="text-align: justify;">\n\t<li><a href="/term-insurance-plans" target="_blank" title="Term Plans by HDFC Life">Term plans</a> are relatively more affordable than alternatives like endowment plans</li>\n\t<li>Individuals can opt for a cover that is more representative of their income level and lifestyle</li>\n\t<li>You can add <a href="/health-insurance-plans/easy-health" target="_blank" title="Critical Illness Insurance">riders like critical illness</a></li>\n\t<li>You can get a discount on the premium for specific cases, like being a non-smoker for instance</li>\n\t<li>You can separate the investment portion from life insurance by investingin line with your risk profile and investment objectives</li>\n</ul>\n\n<p><strong>Which insurance plan is most suitable? </strong></p>\n\n<p>This brings us to the question – which is the <a href="/term-insurance-plans/click-2-protect-life" target="_blank" title="Best Online Term Insurance Plan by HDFC Life">best term insurance plan</a>?</p>\n\n<p>There are two ways to arrive at the answer.</p>\n\n<p>The first is the good old-fashioned way of collecting all available information on term plans from various life insurers. You do this by:</p>\n\n<ul class="pad-left10 pad-bottom10 ol-list" style="text-align: justify;">\n\t<li>calling up the agents or the insurance company offices</li>\n\t<li>listing down all inputs methodically in writing or on an excel worksheet</li>\n\t<li>compare plans to arrive at the one most suited to a person of your age and income profile</li>\n</ul>\n\n<p>While there might be more inputs and steps involved, these are the basic that suffice in most cases while comparing life insurance quotes online. Make sure you are consistent in entering details on every insurer’s website so as to arrive at an accurately <a href="/insurance-knowledge-centre/compare-life-insurance-plans/" target="_blank" title="Compare Insurance Policies in India by HDFC Life">compare life insurance plans</a>.</p>\n\n<p>Disclaimer: The entity is a subject to filling of a medical questionnaire </p>\n\n<p> </p>\n\n<h3><strong>Similar Articles</strong></h3>\n\n<ul>\n\t<li><a href="/insurance-knowledge-centre/compare-life-insurance-plans/child-insurance-plans-comparison/" target="_blank" title="Child Plans Comparison">Compare Child Insurance Plans</a></li>\n\t<li><a href="/insurance-knowledge-centre/compare-life-insurance-plans/pension-plans-comparison/" target="_blank" title="Pension Plans Comparison">Compare Retirement and Pension Plans</a></li>\n\t<li><a href="/insurance-knowledge-centre/compare-life-insurance-plans/" target="_blank" title="Compare Life Insurance Plans">Compare Life Insurance Plans</a></li>\n\t<li><a href="/financial-tools-calculators" target="_blank" title="Life InsurancePremium Calculator by HDFC Life">HDFC Life Insurance Premium Calculator</a></li>\n\t<li><a href="https://onlineinsurance.hdfclife.com/buy-online-term-insurance-plans/click-2-protect-plus?" target="_blank" title="HDFC Life Click2Protect Plus Term Plan Calculator ">HDFC Life Click2Protect Plus Term Plan Calculator</a></li>\n\t<li><a href="https://www.hdfclife.com/term-insurance-plans/click-2-protect-life" target="_blank" title="HDFC Life Click2Protect Plus - Online Term Plan">HDFC Life Click 2 Protect Life</a></li>\n</ul>\n\n<p> </p>\n\n<p> </p>\n</div>\n</div>\n</div>\n\n<p class="Separator"> </p>\n</article>\n</div>\n</div>', 'title': 'How to compare life insurance quotes online?', 'image': {'banner': 'NHs1ROzIjpqDIYK'}, 'excerpt': 'Life insurance is an important part of the individual’s financial portfolio. It offers financial cover to his family in his absence. This makes life insurance a priority for the breadwinner of the family.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 2692, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-04T12:59:00Z'}, {'id': 130, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'How to Choose the Best Life Insurance Policy/Plan - HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Follow these 3 simple steps by HDFC Life to choose the best insurance plan that meets your objectives. To know more about best life insurance policy, Click here! '}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'No change '}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:How To Choose Right Plan\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:How To Choose Right Plan\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/how-to-choose-right-plan'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'ITR Meaning'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_tile.jpg', 'id': 'n7VcTlg3TKhjcOV', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_tile.jpg', 'slug': 'how-to-choose-right-plan', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/how-to-choose-right-plan', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<p>Once you have identified the need to take life insurance, you should know about getting some basic steps right to select the best life insurance policy.</p>\n\n<h3><strong>Select the best life insurance plan/policy in 3 easy steps</strong></h3>\n\n<ul>\n\t<li><strong>Engage an insurance advisor</strong>\n\n\t<p>While this may seem trivial, engaging a reliable and competent insurance advisor at the initial stage in your quest for <a href="/" target="_blank" title="life insurance">life insurance</a> is critical. Most individuals are not capacitated to take a decision by themselves and need the expertise of an insurance advisor.</p>\n\t</li>\n\t<li><strong>Calculate the life cover</strong>\n\t<p>The insurance advisor will help you calculate the amount of life cover – or the sum assured. He will assess sources of your income, number of your dependents, your debts and liabilities and your expenses based on your lifestyle and arrive at a life cover. He will also decide the best plan be it – a <a href="/term-insurance-plans" target="_blank" title="Term Insurance Plans in India">term plan</a>, endowment plan, unit-link plan or a combination of plans, to help provide you with an optimum life cover.</p>\n\n\t<p>Likewise, if you have other needs like planning for your child’s education or marriage, pension for your retirement or a woman’s insurance plan for women, trust your advisor to do the math and come up with an ideal solution.</p>\n\t</li>\n\t<li><strong>Compare insurance plans</strong>\n\t<p>Since there are many insurance companies in the market offering a variety of plans, you need to be sure you select the most suitable one. The insurance advisor will do the homework by <a href="/insurance-knowledge-centre/compare-life-insurance-plans/" target="_blank" title="Life Insurance Comparison">comparing life insurance plans</a> from various insurers across relevant parameters recommending the most apt plan based on your needs.</p>\n\t</li>\n</ul>\n\n<h3><strong>Similar Articles</strong></h3>\n\n<ul>\n\t<li><a href="/insurance-knowledge-centre/secure-your-health/right-health-insurance-plan" target="_blank" title="How to select the right health insurance plan?">How to select the right health insurance plan?</a></li>\n\t<li><a href="https://onlineinsurance.hdfclife.com/buy-online-term-insurance-plans/click-2-protect-plus?source=W_KC_BodyLinks_CPP" target="_blank" title="Term Plan Calculator">Term Plan Calculator</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/how-to-secure-family-future" target="_blank" title="Securing Family Future with Life Insurance">How to Secure Family Future</a></li>\n\t<li><a href="/insurance-knowledge-centre/retirement-planning/inflation-impact-on-savings/" target="_blank" title="Impact of Inflation on Savings">Impact of Inflation on Savings</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/" target="_blank" title="Investment for Future Planning">Investment for Future Planning</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/income-protection/" target="_blank" title="How to Safeguard Money">Tips to Save Money</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/my-money-works-for-me/" target="_blank" title="How to make Money Work for you">How to make Money Work for you</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/portfolio-risk/" target="_blank" title="Managing Investment Portfolio">How to Manage Investment Portfolio</a></li>\n\t<li><a href="http://blog.hdfclife.com/early-financial-planning-532250" target="_blank" title="Early Financial Planning">Benefits of Early Financial Planning for Parents</a></li>\n\t<li><a href="http://blog.hdfclife.com/5-steps-to-successful-financial-planning-for-urban-women-532180" target="_blank" title="Financial Planning for Women">Successful Financial Planning for Women</a></li>\n</ul>\n\n<p> </p>\n\n<p> </p>', 'title': 'Tips to Choose the Best Insurance Policy', 'image': {'banner': 'n7VcTlg3TKhjcOV'}, 'excerpt': 'Once you have identified the need to take life insurance, you should know about getting some basic steps right to select the best life insurance policy.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 4123, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-23T12:17:00Z'}, {'id': 131, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': "How Do I secure My Family's Future"}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': "HDFC Life's insurance plans helps you secure your family's future in the event of any unfortunate death or critical illness. To know more about protection plans, Click here!"}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': "how to secure your family's financial future, term plan, endowment plan"}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:How To Secure Family Future\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:How To Secure Family Future\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/how-to-secure-family-future'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Monthly Income Payout in Term Insurance'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_tile.jpg', 'id': 'OwdSmjW4K2VPkwA', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_tile.jpg', 'slug': 'how-to-secure-family-future', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/how-to-secure-family-future', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet"/>\n<p>In India, the breadwinner’s affiliation towards his family’s future is very strong with even the most ambitious of professionals placing the family’s well-being and financial security above everything else.</p>\n<p>To someone who spends the better part of his day working to provide comfort and luxuries to his family, financial security might seem redundant as he is already providing for the family’s finances.</p>\n<p>The question that needs answering is whether the family has the financial resources to maintain the current standard of living if something happens to the breadwinner?</p>\n<p>Not surprisingly, they aren’t confident that their family members will have the same lifestyle tomorrow when they are gone and the family’s finances dry up.</p>\n<p><strong>So how does the individual plan for the family’s future in his absence?</strong></p>\n<p><a href="/" target="_blank">Life insurance</a>\xa0is a convenient way to provide for the family’s financial security, especially if they are 100% dependent on one person for finances. No matter how old the individual or advanced in his career and profession, life insurance can help him and his family, achieve financial security.</p>\n<p>There are two primary ways through which life insurance can provide for the family in the breadwinner’s absence:</p>\n<ul>\n<li><strong>Protection plans or term plans</strong>\n<p><a href="/term-insurance-plans" target="_blank">Term plan</a>\xa0is the cheapest way to insulate the family from a financial shock in case of an eventuality to the family’s provider.</p>\n</li>\n<li><strong><a href="/savings-investment-plans/super-savings-plan" target="_blank">Endowment plans</a></strong>\n<p>The endowment plan is an investment plan that helps build savings over the long-term which can double up as an emergency fund for the family in the provider’s absence.</p>\n<p>Not just the family as a unit, life insurance has something for every member and can help plan for just about every milestone and eventuality.</p>\n<p>There\xa0are\xa0<a href="/children-insurance-plans/need-for-child-plan" target="_blank">child insurance plans</a>\xa0for the child’s education and marriage.\xa0<a href="/women-insurance-plans" target="_blank">woman insurance plans</a>\xa0for the wife or daughter.\xa0<a href="/savings-investment-plans" target="_blank">investment plans</a>\xa0that help build a corpus for a house or a car.\xa0<a href="/health-insurance-plans" target="_blank" title="Health Insurance Plans and Policies">Health insurance policies</a>\xa0for cover on contracting a debilitating illness or disease and\xa0<a href="/retirement-and-pension-plans" target="_blank" title="Pension Plans by HDFC Life">pension plans</a>\xa0to generate post-retirement income.</p>\n</li>\n</ul>\n<p>Given the critical nature of the product and its multi-dimensional applications, it is not a question of \'if\', but \'how much\' life insurance you should be taking to secure the family’s future.</p>\n<h3><strong>Similar Articles</strong></h3>\n<ul>\n<li><a href="/insurance-plans" target="_blank" title="Life Insurance Policies">Insurance Plans</a></li>\n<li><a href="https://onlineinsurance.hdfclife.com/buy-online-term-insurance-plans/click-2-protect-plus?source=W_KC_BodyLinks_T2P" target="_blank" title="Term Plan Calculator">Term Plan Calculator</a></li>\n<li><a href="/insurance-knowledge-centre/how-to-choose-right-plan" target="_blank" title="How to choose right insurance plan?">How to choose right insurance plan?</a></li>\n<li><a href="/insurance-knowledge-centre/investment-for-future-planning/" target="_blank" title="Investment for Future Planning">Investment for Future Planning</a></li>\n<li><a href="/insurance-knowledge-centre/investment-for-future-planning/income-protection/" target="_blank" title="How to Safeguard Money">Tips to Save Money</a></li>\n<li><a href="/insurance-knowledge-centre/investment-for-future-planning/my-money-works-for-me/" target="_blank" title="How to make Money Work for you">How to make Money Work for you</a></li>\n<li><a href="/insurance-knowledge-centre/investment-for-future-planning/portfolio-risk/" target="_blank" title="Managing Investment Portfolio">How to Manage Investment Portfolio</a></li>\n<li><a href="http://blog.hdfclife.com/early-financial-planning-532250" target="_blank" title="Early Financial Planning">Benefits of Early Financial Planning for Parents</a></li>\n<li><a href="/retirement-and-pension-plans/single-premium-pension-super-plan" target="_blank" title="Single Premium Policy">One Time Investment Policy</a></li>\n</ul>\n<p>\xa0</p>\n<p>\xa0</p>', 'title': "How do I secure my family's future?", 'image': {'banner': 'OwdSmjW4K2VPkwA'}, 'excerpt': 'In India, the breadwinner’s affiliation towards his family’s future is very strong with even the most ambitious of professionals placing the family’s well-being and financial security above everything else.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 4039, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-23T12:21:00Z'}, {'id': 102, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'What is Cancer Insurance - Definition by HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Understand what cancer insurance is and how it works. View complete definition & meaning of cancer insurance on HDFC Life.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'what is cancer insurance, cancer insurance definition, cancer insurance meaning'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:What is Cancer Insurance\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:What is Cancer Insurance\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/what-is-cancer-insurance'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Compare Retirement and Pension Plans'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_tile.jpg', 'id': 'LliizKngfXf9iEf', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_tile.jpg', 'slug': 'what-is-cancer-insurance', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/what-is-cancer-insurance', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section12">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left"><a href="https://www.hdfclife.com/insurance-knowledge-centre/secure-your-health/guide-to-breast-cancer" target="_blank">Cancer insurance</a> is a type of health insurance designed to manage risks associated with cancer. It helps mitigate the costs of cancer treatment and provides policyholders with financial support.</p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="inner-plans-wrp generic ">\n<p>It is critical to provide for health related contingencies like cancer so as to reduce stress on your finances. No one wants to be afflicted by cancer.But wishing it away is hardly the solution. If there is something about cancer that is fairly well-acknowledged, it is the fact that it can strike anyone regardless of family history and lifestyle. Incidence of cancer is rising in India alarmingly.</p>\n\n<p>In addition to the considerable toll cancer takes on your health, mental frameworkand the family as a whole, there is also the matter of dealing with the significant expenses involved in treating it.</p>\n\n<p>One way to prepare yourself financially for cancer care and treatment is to opt for an <a href="https://www.hdfclife.com/insurance-plans" target="_blank">insurance policy</a> that specifically covers cancer.</p>\n\n<p><a href="/health-insurance-plans/cancer-care-insurance" target="_blank" title="HDFC Life Cancer Care Plan">Cancer care insurance policies</a> are launched with this very objective. They offer comprehensive cover against cancer.This leaves the patient and the family financially and mentally secure to deal with the trauma that comes with cancer.</p>\n\n<p><strong>Benefits of cancer care insurance</strong></p>\n\n<p>• Pay out of a lumpsum amount on diagnosis of cancer</p>\n\n<p>• Waiver of premium under certain conditions like early stage cancer</p>\n\n<p>• Sum assured increases by a specific percentage annually (e.g. 10%) in case of no claims</p>\n\n<p>• Monthly income upto a specific number of years (e.g. five years) under certain conditions like diagnosis of major cancers</p>\n\n<p>• Discounts on premiums for sum assured above a certain amount (e.g. Rs 10 lakhs)</p>\n\n<p><strong>Exclusions</strong></p>\n\n<p>Exclusion is a condition or caveat under which the policyholder becomes ineligible for the payout.<br />\nMost cancer care policies have exclusions.For instance, no benefit is payable in case of cancer due to:</p>\n\n<p>• Sexually transmitted diseases (STD) or AIDS</p>\n\n<p>• Congenital conditions</p>\n\n<p>• Pre-existing conditions, to cite some of the more important exclusions</p>\n\n<p><strong>Tax benefits </strong></p>\n\n<p>Payouts under cancer insurance policies are eligible for tax benefits <a href="/insurance-knowledge-centre/tax-saving-insurance/Deduction-under-section-80D/" target="_blank">section 80D of the Income Tax Act</a> 1961.</p>\n\n<p> </p>\n\n<h3><strong>Similar Articles:</strong></h3>\n\n<ul>\n\t<li><a href="/health-insurance-plans/easy-health" target="_blank" title="Critical Illness Policy">HDFC Life Easy Health Plan - Critical Illness Health Policy for Family</a></li>\n\t<li><a href="/insurance-knowledge-centre/secure-your-health/right-health-insurance-plan/" target="_blank" title="Tips to Buy the Best Health Insurance Policies in India">How to Choose the Best Health Insurance Plan?</a></li>\n\t<li><a href="/health-insurance-plans" target="_blank" title="Health Insurance Plans by HDFC Life">Health Insurance Policies</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-net-asset-value" target="_blank">What is Net Asset Value</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-systematic-investment-plan" target="_blank">Systematic Investment Plan</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/critical-illness-insurance-comparison" target="_blank" title="Compare Critical Illness Insurance">Critical Illness Insurance Comparison</a></li>\n</ul>\n\n<h3><strong>Popular Insurance Definitions:</strong></h3>\n\n<ul>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-term-insurance" target="_blank" title="Meaning and Definition of Term Insurance">What is Term Insurance?</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-term-insurance" target="_blank" title="Meaning and Definition of Health Insurance">What is Health Insurance?</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-health-insurance" target="_blank" title="Critical Illness Policy">What is Critical Illness Insurance?</a></li>\n</ul>\n\n<p> </p>\n\n<p> </p>\n</div>\n</div>\n</div>\n\n<p class="Separator"> </p>\n</article>\n</div>\n</div>', 'title': 'Cancer Insurance - Definition & Meaning', 'image': {'banner': 'LliizKngfXf9iEf'}, 'excerpt': 'Cancer insurance is a type of health insurance designed to manage risks associated with cancer. It helps mitigate the costs of cancer treatment and provides policyholders with financial support.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 1014, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-07T07:05:00Z'}, {'id': 109, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Health Insurance Meaning | HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Health insurance is an insurance product which covers medical and surgical expenses of an insured individual. To understand what is health insurance and how it works, Visit Now!'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'what is health insurance, health insurance meaning, health insurance definition, need for health insurance'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:What is Health Insurance\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:What is Health Insurance\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/what-is-health-insurance'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Term Insurance Meaning'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_tile.jpg', 'id': 'NHs1ROzIjpqDIYK', 'url': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_tile.jpg', 'slug': 'what-is-health-insurance', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/what-is-health-insurance', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section12">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left">Health insurance covers cost of an insured individual's medical and surgical expenses. Subject to the terms of insurance coverage, either the insured pays costs out-of-pocket and is subsequently reimbursed or the insurance company reimburses costs directly.<script gapi_processed="true" src="https://apis.google.com/js/plusone.js" type="text/javascript"></script></p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<div class="description">\n<p style="padding-right: 30px;"><script type="text/javascript">\n (function (d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/all.js#xfbml=1"; fjs.parentNode.insertBefore(js, fjs); }\n (document, \'script\', \'facebook-jssdk\'));</script></p>\n</div>\n</div>\n</div>\n\n<div class="inner-plans-wrp generic ">\n<h2><strong>What is Health Insurance?</strong></h2>\n\n\n<p>Health insurance is an insurance product which covers medical and surgical expenses of an insured individual. It reimburses the expenses incurred due to illness or injury or pays the care provider of the insured individual directly.</p>\n\n<h2><strong>Types of Health Insurance</strong></h2>\n\n<p>Every individual is different and has a unique set of needs. A single health insurance product is not enough to cover every person’s individual requirements. This is precisely where there are a number of different types of health insurance plans available. Let’s take a look at what they are:</p>\n\n<h3><strong>1. Individual Health Insurance</strong></h3>\n\n<p>You can purchase an individual health insurance policy to provide cover for yourself, your spouse, your children and your parents. These policies typically cover all kinds of medical expenses, including hospitalisation, daycare procedures, hospital room rent and more. Under an individual health insurance plan, each member has their own sum insured amount. So, let’s say you’ve taken an individual plan for yourself, your spouse and both your parents with a sum insured of INR 8 lakhs. Each of you will be able to claim a maximum amount of 8 lakhs per policy year against your health insurance.</p>\n\n<h3><strong>2. Family Floater Health Insurance</strong></h3>\n\n<p>A family floater plan allows you to cover your family members under a single policy and everybody shares the sum insured amount. These plans are typically more affordable than individual plans since the sum insured is shared. Let’s say you purchase a family floater plan for you and your spouse with a sum insured of INR 8 lakhs. In a single policy year, you can make claims worth only INR 8 lakhs. Your spouse may make claims worth INR 6 lakhs and you could make claims worth INR 2 lakhs or vice-versa. Typically, family floater plans are ideal for young nuclear families.</p>\n\n<h3><strong>3. Senior Citizens Health Insurance</strong></h3>\n\n<p>These health plans have been designed specifically keeping the medical needs and requirements of senior citizens in mind. Most senior citizens policies offer additional cover, such as domiciliary hospitalisation and even some psychiatric benefits. Since older citizens are more likely to have health issues, these policies may require a full medical check-up beforehand and could be more expensive than regular insurance policies.</p>\n\n<h3><strong>4. Critical Illness Insurance</strong></h3>\n\n<p>There are a number of lifestyle-related diseases that are on the rise. Health issues such as cancer, stroke, kidney failure and cardiac diseases can be very expensive to deal with and manage long-term. This is precisely why critical illness insurance policies have been created. They can either be purchased as a rider or add-on with your regular health insurance plan or separately as their own plan. These policies offer cover for very specific issues and often provide claim payouts as a single lump sum payment after the diagnosis of a critical illness.</p>\n\n<h3><strong>5. Group Health Insurance</strong></h3>\n\n<p>Unlike individual and family floater policies, group health insurance plans can be purchased by a group manager for a large number of individuals. For example, an employer can purchase group insurance for all their employees or a building secretary may purchase such a plan for all the residents of the building. These plans are fairly affordable, but they often only provide cover for basic health issues. Employers often purchase these plans as an additional benefit for employees.</p>\n\n<h2><strong>Benefits of Health Insurance</strong></h2>\n\n<p>Purchasing health insurance is crucial for a number of reasons. Let’s take a look at the most important benefits of our health insurance policies:</p>\n\n<h3><strong>1. Helps Deal with Rising Medical Costs</strong></h3>\n\n<p>People purchase health insurance policies to safeguard their finances against ever-rising medical costs. An accident or medical emergency could end up costing you more than a few thousand rupees. With a medical insurance plan, you enjoy cover for everything from ambulance charges to daycare procedures, making it easier for you to get the care you need to recover.</p>\n\n<h3><strong>2. Critical Illness Cover</strong></h3>\n\n<p>Many health insurance policies will also offer cover for critical illnesses at an additional cost. Given the rising incidence of lifestyle-related diseases today, this is another crucial cover to have. You will be provided with a lump sum payout in case you are diagnosed with any of the covered critical illnesses. These issues are often very expensive to deal with and manage, so critical illness cover is another vital benefit of having health insurance.</p>\n\n<h3><strong>3. Easy Cashless Claims</strong></h3>\n\n<p>Every health insurance provider will tie-up with a number of network hospitals where you can enjoy cashless claims. This makes the entire process of receiving emergency medical care much easier. At a network hospital, you aren’t really required to pay for any of the covered treatments. For all valid claims, we’ll take care of the medical costs, without you having to pay for anything, except non-covered expenses and the mandatory deductibles.</p>\n\n<h3><strong>4. Added Protection</strong></h3>\n\n<p>If you enjoy cover under a group health insurance plan, you may wonder why you should purchase your own health insurance policy. Well, individual health insurance plans offer provider more and better cover than group plans. Additionally, if you happen to leave the group at any time, you risk losing the cover, which could make you and your finances vulnerable.</p>\n\n<h3><strong>5. Tax Savings</strong></h3>\n\n<p>Under Section 80D of the Income Tax Act, 1961, premiums paid towards the upkeep of health insurance policies are eligible for tax deductions. For a policy for yourself, your spouse, your children and parents below the age of 60, you can claim a deduction of up to INR 25,000 per year from your taxable income. If you’ve also purchased a policy for a parent who is over the age of 60, you can claim an additional deduction of INR 50,000.</p>\n\n<h2><strong>How Health Insurance Works?</strong></h2>\n\n<p>Like every kind of insurance policy, health insurance also helps you deal with the financial repercussions of an accident or emergency. Let’s take a look at how health insurance actually works. The process starts when you apply to purchase a plan. Depending on your age, medical background, sum insured required and the type of plan you’ve selected, you will be provided with premium quotes. In some cases, you might be asked to do a few medical tests before the insurance provider decides whether they’d like to provide you with the required cover. Once the terms and conditions are finalised, you will be provided with a policy. Each policy comes with a few waiting periods. The initial waiting period is only for a few weeks or a month. During this time, you will not be able to make any non-emergency claims. Let’s say that you require some kind of surgery after the waiting period. If you’re able to get the treatment in a network hospital, you can let us know about the surgery, and we’ll get in touch with the hospital directly to settle all the payments. When you’re discharged from the hospital, you will only have to pay for additional expenses that are not covered and the voluntary co-pay amount, if any. If you’re getting treatment in a non-network hospital, you can make all the payments and then file for a reimbursement claim. Either way, you can get the treatment you require without fretting about burning a hole through your pocket.</p>\n\n<h2><strong>Need for Health Insurance</strong></h2>\n\n<p>Medicare or medical costs are rising year on year. As a matter of fact, inflation in medicare is higher than inflation in food and other articles. While inflation in food and clothing is in single digits, medicare costs usually escalate in double digits.</p>\n\n<p>For an individual who hasn’t saved that much money, arranging for funds at the eleventh hour can be a task. This is particularly daunting for seniors, given that most ailments strike at an advanced age.</p>\n\n<p>One way to provide for health-related / medical emergencies is by taking health insurance. Health insurance offers considerable flexibility in terms of disease / ailment coverage. For instance, certain <a href="/health-insurance-plans" target="_blank" title="Health Insurance Plans by HDFC Life">health insurance plans</a> cover as many as 30 critical illnesses and over 80 surgical procedures. The insurance plan disburses the payment towards surgery/illness regardless of actual medical expenses. The policy continues even after the benefit payment on selected illnesses.</p>\n\n<p>With health insurance, you are assured of a more secure future both health-wise and money-wise. This makes <a href="https://www.hdfclife.com/insurance-knowledge-centre/secure-your-health/difference-health-mediclaim-plan/" target="_blank"> health insurance policies</a> critical for individuals, especially if they are responsible for the financial well-being of the family.</p>\n\n<h2><strong>How to Choose Health Insurance Plan?</strong></h2>\n\n<p>There are several health insurance policies available in the market. To enjoy cover without any hassles, you need to find the policy that best looks after your unique needs. Here are some important factors to consider while choosing a health insurance policy:</p>\n\n<h3><strong>1. Check the Sum Insured</strong></h3>\n\n<p>Many insurance providers have a limit on the maximum sum insured you can choose. If you’d like a high sum insured, you need to find a health policy that offers you what you’re looking for. A good rule of thumb is to get cover that is a minimum of six times your salary. If you earn INR 1 lakh per month, look for a policy that offers at least INR 6 lakhs as the sum insured. You should also look for other benefits. If you’re planning on starting a family in a few years, make sure maternity costs are covered. Of course, you will have to check the waiting period as maternity benefits are subject to slightly longer waiting periods.</p>\n\n<h3><strong>2. Scout the Network Hospitals</strong></h3>\n\n<p>Different insurance providers may have different hospitals in their network. Ideally, look for a policy that offers cashless claims at all the top hospitals in your city. You should also make sure that your preferred hospital is on the list. This will make the entire process of getting the treatment you want much easier.</p>\n\n<h3><strong>3. Check the Fine Print</strong></h3>\n\n<p>Every health insurance policy has various limits and sub-limits. You need to check the policy documents thoroughly to understand exactly how much coverage you will get per treatment or hospitalisation. For example, some policies may help cover the per day room cost, but only up to INR 2,000 per day. If you happen to be in a hospital where the room rent is INR 4,000, you’d have to pay for half the cost of the room. You should also check the limits of pre- and post-hospitalisation expenses. Some plans offer cover for only 30 days pre-hospitalisation and 60 days post-hospitalisation. Others offer 60 and 90 days respectively.</p>\n\n<h3><strong>4. Look for Additional Benefits</strong></h3>\n\n<p>Given that the insurance market is fairly competitive, different policies offer various benefits. No-claim bonuses and the restoration of your sum insured are some of the most popular ones. You should always check whether your chosen insurance policy will provide these benefits. Always look for policies that offer you additional benefits.</p>\n\n<h3><strong>5. Examine the Exclusions and Other Clauses</strong></h3>\n\n<p>Every policy has its own exclusions or medical procedures and situations that it will not cover. Make sure you check what’s covered and what isn’t before you purchase a plan. You should also check if there’s a co-pay clause, how much you will have to co-pay and what the waiting periods are. Shorter waiting periods and voluntary co-pay are ideal.</p>\n\n<h2><strong>Difference BetweenMediclaim Plan or a Critical Illness Insurance Plan?</strong></h2>\n\n<p>A mediclaim plan or health insurance policy works a little bit differently as opposed to a critical illness insurance plan. Let’s take a look at the differences between these plans:</p>\n\n<h3><strong>Type of Payout</strong></h3>\n\n<p>Mediclaim plans are known as indemnity plans. This means that the claim amount you receive will help offset costs as per actuals. These payouts are provided against actual medical costs and bills.</p>\n\n<p>On the other hand, critical illness plans offer a lump sum payout of the sum insured once you are diagnosed with a covered critical illness. You can use the money to pay for treatment, repay debts or even replace your lost income.</p>\n\n<h3><strong>What’s Covered</strong></h3>\n\n<p>Regular mediclaim policies offer cover against a wide range of issues. Everything from accidents to surgeries, AYUSH and domiciliary treatments are covered under these policies.</p>\n\n<p>Critical illness plans, on the other hand, provide a lump sum payment only for very specific critical illnesses.</p>\n\n<h3><strong>What’s Better?</strong></h3>\n\n<p>If you weigh out both the options, health insurance plans and critical illness policies offer very different benefits. If you’re planning on purchasing a policy, it’s a good idea to buy a regular mediclaim policy and get additional critical illness cover. You need both to secure your finances for the future in case anything untoward were to happen to you.</p>\n\n<h3><strong>Similar Articles:</strong></h3>\n\n<ul>\n\t<li><a href="/health-insurance-plans/easy-health" target="_blank" title="Critical Care Insurance">HDFC Life Easy Health Plan - Critical Illness Policy</a></li>\n\t<li><a href="/insurance-knowledge-centre/secure-your-health/right-health-insurance-plan/" target="_blank" title="Tips to Buy the Best Health Insurance Policies in India">How to Choose the Best Health Insurance Plan</a></li>\n\t<li><a href="/health-insurance-plans/cancer-care-insurance" target="_blank" title="Cancer Care Insurance Plan">HDFC Life Cancer Care Plan</a></li>\n</ul>\n</div>\n</div>\n</div>\n</article>\n</div>\n</div>', 'title': 'Health Insurance - Meaning & Definition', 'image': {'banner': 'NHs1ROzIjpqDIYK'}, 'excerpt': "Health insurance covers cost of an insured individual's medical and surgical expenses. Subject to the terms of insurance coverage, either the insured pays costs out-of-pocket and is subsequently reimbursed or the insurance company reimburses costs directly.", 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 20677, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-04T13:16:00Z'}, {'id': 108, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Income Tax Return Guide - Details You Should Know | HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Get all the details related to income tax Returns. Read this article to know the step by step guide on the ITR filling process & the documents required. Read Now!'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'what is itr, what is income tax return, how to file itr, income tax return definition, HDFC Life, income tax return, itr'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:What is Income Tax Return\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:What is Income Tax Return\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/what-is-income-tax-return'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'head tag script', 'slug': 'head-tag-script', 'value': '<script type="application/ld+json">\n{\n "@context": "https://schema.org",\n "@type": "FAQPage",\n "mainEntity": [{\n "@type": "Question",\n "name": "&#9989 What are the benefits of filing my return of income?",\n "acceptedAnswer": {\n "@type": "Answer",\n "text": "A tax return is a form which informs government authorities how much income you have earned and gives the government other tax relevant details. It is a good idea to file your returns regularly even if your income falls below the exemption limit for the important benefits it brings. Easier tax refund: Not only filing your tax return regularly but even filing it on time can help you obtain a tax refund from the Income Tax authorities promptly. Should you happen to pay excess tax, the refunds are reimbursed quicker if your income tax returns (ITRs) are filed timely. Easier loan approval: Besides viewing your credit risk ratings and your repaying capacity, almost all banks today issue vehicle or home loans only once they scrutinize your returns. The tax returns serve as additional proof that you are least likely to be a defaulter. Faster visa processing: Everyone knows what travel hassles one can encounter when a visa does not arrive on time. You can avoid this by getting a three years’ copy of your tax returns. The embassies and consulates of many countries will ask for your ITRs along with other requisite documents. Carry forward your losses: Your tax liability can reduce if your capital gains/income in subsequent years are offset with the losses of previous years. This means that if you file your tax returns before the due dates, you can avail of this advantage by carrying forward your losses to lower the capital gains or taxable income due. This translates into huge savings on your pocket."\n }\n }, {\n "@type": "Question",\n "name": "&#9989 What precautions should be taken while filing ITR?",\n "acceptedAnswer": {\n "@type": "Answer",\n "text": "Never file your return hurriedly at the last hour: Filing your return at the last minute is troublesome. Instead, file your return at least a month or so ahead of the due date which mostly happens to be 31st of July every year, unless the government extends the date. Filing your returns at the last minute increases your chances of making mistakes and you may get notice from the tax authorities for a silly technical detail that you oversaw. Get your math right: It is important to get your figures calculated right so that you do not end up having to pay excess tax. Prior to this, you will have to get all your papers such as your Form 26As, your bank statements, tax deducted at source (TDS) certificates neatly arranged so you do not arrive at any wrong figures on how much taxable income you have to pay. To reduce the chances of error as well as to claim a refund, it is better you go for e-filing of your returns preferably through a tax conversant professional. Report all your sources of income: You should disclose all your sources of income. This is irrespective of whether this income is obtained through active or passive means such as interest on fixed deposits. Any attempt to hide your sources of income could land you in a legal soup and you could be tarnished as a tax evader."\n }\n }, {\n "@type": "Question",\n "name": "&#9989 What is Form 26AS?",\n "acceptedAnswer": {\n "@type": "Answer",\n "text": "Form 26AS is a document containing particulars of various taxes deducted from your income by various entities such as your bank, your employer or even your insurance agency. It is a consolidated credit statement issued at the end of every financial year under section 203AA of the Income Tax Act, 1961. It also furnishes information on how much advance tax or self-assessment tax you have paid during the year. Tax collected at source details as well as any refunds due are also visible in Form 26 AS. Every tax payer must cross check his Form 26 AS so that he/she is able to match the tax deducted with any taxes paid by them during the financial year. This can help rectify errors caused by wrong permanent account numbers, faulty TDS receipts and so on. You can obtain a copy of your current financial year’s Form 26 AS by visiting the income tax website and logging in by inserting your PAN and e filing password. Once you are in the Income Tax department’s e-filing website, which is https://incometaxindiaefiling.gov.in, click on View Form 26 AS(Tax Credit) under My Account or Quick Links sections. A new window will open where you can download the relevant assessment year 26AS from the TDS-CPC website."\n }\n }, {\n "@type": "Question",\n "name": "&#9989 If I have paid excess tax how will it be refunded to me?",\n "acceptedAnswer": {\n "@type": "Answer",\n "text": "The first thing to keep in mind before claiming your refund for excess tax paid is to know that there is a deadline for doing so. One condition stipulated for claiming the refund is that you have to file your return of the respective assessment year within the stipulated time to claim the refund. Assessment year is the financial year (FY) following one financial year. A refund is due only when you have proof to show that you paid more than your liability. This usually happens when the advance tax or self-assessment tax is more than the tax you are required to pay or when the tax deducted at source is more that your total tax liability. After you file your returns and assuming you have input the correct contact information, the tax authorities send you a message or emailr informing you that your tax to be paid matches that of the tax department, or that there is a mismatch, in which case a demand is raised for you to cover the shortfall, or you get only a partial refund, or your refund is accepted in full. What amount of refund you are eligible for is calculated automatically once you fill all the details in the ITR form. Thereafter, you just need to click on the Taxes Paid and Verification button. The refund due is reflected in the Refund Row according to the information submitted."}\n }]\n }\n</script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'article button text', 'slug': 'article-button-text', 'value': 'Income Tax calculator'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'article button link', 'slug': 'article-button-link', 'value': 'https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/what-is-income-tax-return?source=NW_KC_whatisincometaxreturn_InTaCa&agentcode=00399206'}, 'validations': {}}], 'banner_image': {'alt': {'en': ''}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/TAx.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/TAx_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/TAx_tile.jpg', 'id': '4UnRFFOcI5hRoR8', 'url': 'https://brandsite-static.hdfclife.com/media/image/TAx.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/TAx_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/TAx_tile.jpg', 'slug': 'what-is-income-tax-return', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/what-is-income-tax-return', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section12">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p align="justify">India’s Income Tax Laws are framed by the Government The Government imposes a tax on <a href="https://en.wikipedia.org/wiki/Taxable_income">taxable income</a> of all persons who are individuals, Hindu Undivided Families (HUF's), companies, firms, LLP, association of persons, body of individuals, local authority and any other artificial juridical person. According to these laws, levy of tax on a person depends upon his residential status. Every individual who qualifies as a resident of India is required to pay tax on his or her global income. Every financial year, taxpayers have to follow certain rules while filing their <a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/importance-of-filing-income-tax-returns">Income Tax Returns</a> (ITRs).</p>\n\n<h2><b>Income Tax Return -  What is it? </b></h2>\n\n<p align="justify">An <strong>Income tax return (ITR)</strong> is a form used to file information about your income and tax to the Income Tax Department. The tax liability of a taxpayer is calculated based on his or her income. In case the return shows that excess tax has been paid during a year, then the individual will be eligible to receive a <a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/what-is-income-tax-return" target="_blank">income tax refund</a> from the Income Tax Department.</p>\n\n<p align="justify">As per the income tax laws, the return must be filed every year by an individual or business that earns any income during a financial year. The income could be in the form of a salary, business profits, income from house property or earned through dividends, capital gains, interests or other sources.</p>\n\n<p align="justify">Tax returns have to be filed by an individual or a business before a specified date. If a taxpayer fails to abide by the deadline, he or she has to pay a penalty. </p>\n\n<h2><strong>Is it mandatory to file Income Tax Return?</strong></h2>\n\n<p align="justify">As per the tax laws laid down in India, it is compulsory to file your income tax returns if your income is more than the basic exemption limit. The income tax rate is pre-decided for taxpayers. A delay in filing returns will not only attract late filing fees but also hamper your chances of getting a loan or a visa for travel purposes.</p>\n\n<h2><strong>Who should file Income Tax Returns?</strong></h2>\n\n<p align="justify">According to the Income Tax Act, <a href="https://www.hdfclife.com/insurance-knowledge-centre/income-tax-returns/income-tax-slab-2020-21" target="_blank">income tax</a> has to be paid only by individuals or businesses who fall within certain income brackets. Mentioned below are entities or businesses that are required to compulsorily file their ITRs in India:</p>\n\n<ol>\n\t<li>\n\t<p align="justify"><u><strong>All individuals, up to the age of 59</strong></u>, whose total income for a financial year exceeds Rs 2.5 lakh. For senior citizens (aged 60-79), the limit increases to Rs. 3 lakh and for super senior citizens (aged 80 and above) the limit is Rs. 5 lakhs. It is important to note that the income amount should be calculated before factoring in the deductions allowed under Sections 80C to 80U and other exemptions under section 10.</p>\n\t</li>\n\t<li>\n\t<p align="justify"><u><strong>All registered companies that generate income</strong></u>, regardless of whether they’ve made any profit or not through the year.</p>\n\t</li>\n\t<li>\n\t<p align="justify">Those who wish to <u><strong>claim a refund</strong></u> on the excess tax deducted/income tax they’ve paid.</p>\n\t</li>\n\t<li>\n\t<p align="justify">Individuals who have assets or financial interest entities that are <u><strong>located outside India.</strong></u></p>\n\t</li>\n\t<li>\n\t<p align="justify"><u><strong>Foreign companies</strong></u> that enjoy treaty benefits on transactions made in India.</p>\n\t</li>\n\t<li>\n\t<p align="justify"><u><strong>NRIs </strong></u>who earn or accrue more than Rs. <u><strong>2.5 lakh</strong></u> in India in a single financial year.</p>\n\t</li>\n</ol>\n\n<p align="justify"> </p>\n\n<h2 align="justify"><strong>Documents required to fill ITR</strong></h2>\n\n<p> It is important to have all the relevant documents handy before you start your e-filing process.</p>\n\n<ul>\n\t<li> Bank and post office savings account passbook, PPF account passbook</li>\n\t<li> Salary slips</li>\n\t<li> Aadhar Card, PAN card</li>\n\t<li> <u><strong>Form-16 </strong></u>-  TDS certificate issued to you by your employer to provide details of the salary paid to you and TDS deducted on it, if any</li>\n</ul>\n\n<p> Interest certificates from banks and post office</p>\n\n<ul>\n\t<li> <u><strong>Form-16A</strong></u>, if TDS is deducted on payments other than salaries such as interest received from fixed deposits, recurring deposits etc. over the specified limits as per the current tax laws</li>\n\t<li> <u><strong>Form-16B</strong></u>  from the buyer if you  have sold a property, showing the TDS deducted on the amount paid to you</li>\n\t<li> <u><strong>Form-16C  </strong></u>from your tenant, for providing the details of TDS deducted on the rent received by you, if any</li>\n\t<li><strong> </strong><u><strong>Form 26AS</strong></u> - your consolidated annual tax statement. It has all the information about the taxes deposited against your PAN</li>\n\t<li>a) TDS deducted by your employer</li>\n\t<li>b) TDS deducted by banks</li>\n\t<li>c) TDS deducted by any other organisations from payments made to you</li>\n\t<li>d) Advance taxes deposited by you</li>\n\t<li>e) Self-assessment taxes paid by you</li>\n\t<li> Tax saving investment proofs</li>\n\t<li> Proofs to claim deductions under section 80D to 80U (health insurance premium for self and family, interest on education loan)</li>\n\t<li> Home loan statement from bank</li>\n</ul>\n\n<h2 align="justify"><strong>What is Form 26AS?</strong></h2>\n\n<p>Form 26As is a vital document showing the portion of tax deducted at source on payments/investments made by individuals, employees and freelancers. This enables the taxpayers to claim refunds for any additional tax or overdue tax payments made.</p>\n\n<p>The new Form26AS, which is applicable from AY2020-21, has been refurbished to make it easier to file <a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/what-is-income-tax-return" target="_blank">income tax returns online</a> as well as encourage compliance with any <a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/income-tax-slab-2019-20" target="_blank">tax regulations</a>.</p>\n\n<ol style=" list-style: disc; ">\n\t<li>\n\t<p>An important feature of the new Form26 AS is its statements of financial transactions. As the name implies, these are statements where the taxpayers recall all major financial transactions they have made which would be to their benefit while filing their returns.</p>\n\t</li>\n\t<li>\n\t<p>The new format of 26AS will also show your Aadhar card details, date of birth, email and house addresses, your date of birth and also your mobile number.</p>\n\t</li>\n\t<li>\n\t<p>It will indicate whether there are any tax proceedings which are pending or completed with the tax authorities.</p>\n\t</li>\n</ol>\n\n<h2 align="justify"><strong>How to link Aadhar to Income Tax returns</strong></h2>\n\n<p>it is compulsory for every individual taxpayer to quote their Aadhar number while <a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/what-is-income-tax-return" target="_blank">filing tax returns.</a> He/she is also required to link their PAN (permanent account number) card to their Aadhar number. One cannot file a tax return either digitally or manually unless the Aadhar number is quoted. Senior citizens can file their tax returns manually but those below 80 years of age have to file it electronically.</p>\n\n<p>To link your Aadhar number to your income tax return-</p>\n\n<ol style=" list-style: disc; ">\n\t<li>\n\t<p>Type or write down the number in the additional spaces provided in the new ITR forms provided in the Income Tax website.</p>\n\t</li>\n\t<li>\n\t<p>If you have applied for an Aadhar number but have not received it, you can use the 28 digit enrolment ID in place.</p>\n\t</li>\n\t<li>\n\t<p>The Aadhar number gets automatically populated in the ITR forms if it has been electronically added before.</p>\n\t</li>\n</ol>\n\n<h2 align="justify"><strong>One time verification of past ITRs by September 2020</strong></h2>\n\n<p>The Income Tax authority of India has allowed one time verification of previously filed returns up to September this year. Previously, tax payers were given only 120 days’ window to verify the returns from the date of filing the same. The up to September 2020’ one time verification provision is for those taxpayers who have not verified their tax returns from the assessment years 2015-16 to 2020-21.</p>\n\n<p>Whenever someone files a return online, the same has to be verified by dispatching the signed ITRV slip by post or digitally to the CPC, Bengaluru. The verification is a declaration by the taxpayer confirming that the details provided in the returns he filed is true and correct. Tax return verification is crucial, as in the event of a return not being verified, the tax filing process is rendered incomplete. The taxpayer can thus incur penalties.</p>\n\n<h2 align="justify"><strong>What’s new in the ITR forms?</strong></h2>\n\n<p>The new IT return forms include relief measures announced due to the COVID-19 global pandemic. These new tax return forms were recently notified by the Central Board of Direct Taxes.</p>\n\n<p>The forms have the following features:</p>\n\n<ol style=" list-style: disc; ">\n\t<li>\n\t<p><u><strong>Wider scope of taxpayers</strong></u>: The tax net has been widened to include individuals, Hindu undivided families (HUFs) as well as partnership firms who have deposited more than Rs 1 crore in a bank, incurred personal travel expense of Rs 2 lakh plus or paid a power utility bill of more than Rs 1 lakh.</p>\n\t</li>\n\t<li>\n\t<p><u><strong>Separate schedule</strong></u>: A separate schedule called Schedule DI has been allotted in the new form to enable the tax payer to indicate the amount invested or spent on which he/she needs a tax rebate.</p>\n\t</li>\n\t<li>\n\t<p>The earlier amendment prohibiting joint owners of a house from filing tax return, either with ITR-1 or ITR-4, has been done away with.</p>\n\t</li>\n</ol>\n\n<h2><strong>Importance of e-filing</strong></h2>\n\n<p align="justify"><em><u><strong>Electronic filing</strong></u></em> or <a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/how-to-file-income-tax-returns-online" target="_blank">e-filing</a> is a process that involves submitting tax returns over the internet. This is done using a tax preparation software that has been pre-approved by India’s Income Tax Department.</p>\n\n<p align="justify">E-filing has several benefits that have made the online system of tax payment increasingly popular. The taxpayer has the liberty to file a tax return from his or her home, at any convenient time, during a specific period in a financial year.</p>\n\n<p align="justify">Even though it is not mandatory for certain individuals to file ITRs, it can be beneficial for them. Here’s a look at what benefits individual who file their ITR can enjoy:</p>\n\n<ol>\n\t<li>\n\t<p align="justify"><u><strong>While claiming a refund:</strong></u> There is a good possibility that there has been tax deduction at source (TDS) on the name of an individual who makes an income or investment in India. If the taxpayer wishes to claim a refund on the TDS (as per the tax laws), then he or she needs to file the ITR for the same.</p>\n\t</li>\n\t<li>\n\t<p align="justify"><u><strong>Ease in documentation verification:</strong></u> Income tax returns help you prepare documents that establish your income chart, which can be used while applying for loans. This is because the application for loans checks your eligibility based on your income. An ITR document gives a detailed picture of your total income besides being the most accepted document during visa and loan applications.</p>\n\t</li>\n\t<li>\n\t<p align="justify"><u><strong>As proof of income:<em> </em></strong></u>Income Tax Return documents serve as income proof and help your insurer understand the compensation required to be paid in case of accidental death or disability. Since it is submitted to a government body, it is considered to be a verified and official document.</p>\n\t</li>\n</ol>\n\n<p align="justify">To file your ITRs, you can either directly fill the form online or take help from a professional. The Income Tax Return form is called ‘Sahaj’ and can be downloaded from the Income tax department’s official <a href="http://www.incometaxindiaefiling.gov.in/">website</a> or filled up online. Once you complete filing your return, an ITR-V form will be generated as an acknowledgement. This form needs to be verified within 120 days of filing your returns.</p>\n\n<h2><strong>Which ITR Form should you fill?</strong></h2>\n\n<p align="justify">The official website of the Income Tax Department lists several forms that taxpayers may be required to fill up based on their income. While some of these forms are easy to fill, others require additional disclosures such as your profit and loss statements. To help you better understand the forms available, here’s a quick guide:</p>\n\n<ol>\n\t<li>\n\t<p align="justify"><u><strong>ITR-1:</strong></u> Sahaj or ITR- 1 is to be filed individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs.5 thousand.</p>\n\t</li>\n\t<li>\n\t<p align="justify"><u><strong>ITR-2:</strong></u> This form should be filed by Individuals and HUFs not having income from profits and gains of business or profession.</p>\n\t</li>\n\t<li>\n\t<p align="justify"><u><strong>ITR-3: </strong></u>This form is for individuals and HUFs having income from profits and gains of business or profession</p>\n\t</li>\n\t<li>\n\t<p align="justify"><u><strong>ITR-4 : </strong></u>(Sugam): If your business attracts presumptive income for you, then you need to fill this form. This form is to be filed by Individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs.50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE.</p>\n\t</li>\n</ol>\n\n<h2 align="justify"><strong>How to check ITR status online?</strong></h2>\n\n<p>Once you have filed your income tax returns and verified it, the status of your tax return is 'Verified'. After the processing is complete, the status becomes 'ITR Processed'.</p>\n\n<p>If you wish to know which stage your tax return is after filing it and want to check your ITR status online, here’s how you can do it in easy steps.</p>\n\n<p><u><strong>Option One</strong></u></p>\n\n<p><strong><em>Without login credentials</em></strong></p>\n\n<p>You can click on the ITR status tab on the extreme left of the e-filing website.</p>\n\n<p>You are then directed to a new page where you have to fill in your PAN number, ITR acknowledgement number and the captcha code.</p>\n\n<p>Once this is done, the status of your filing will be displayed on the screen.</p>\n\n<p><u><strong>Option Two</strong></u></p>\n\n<p><strong><em>With login credentials</em></strong></p>\n\n<p>Login to the e-filing website.</p>\n\n<p>Click on the option 'View Returns/Forms'</p>\n\n<p>From the dropdown menu, select income tax returns and assessment year</p>\n\n<p>Once this is done, the status of your filing (whether only verified or processed) will be displayed on the screen.</p>\n\n<p align="justify">Keeping the Income Tax Department informed about your income and taxability will keep you on the right side of the law and prevent any blocks in your financial competency. Now that you know whether or not you compulsorily have to file your ITR, you need to ensure that you complete the process before the deadline every year.</p>\n\n<h2 align="justify"><strong>How to Download Income Tax Return?</strong></h2>\n\n<p>It is important to how to file ITR on time, to avoid last minute stress and penalties. Once you have filed your ITR, the income tax verification form is generated by the IT department so that taxpayers can verify the validity and legitimacy of e-filing. These are applicable only if you have filed your returns without a digital signature.</p>\n\n<p>The income tax return verification form can be downloaded in easy steps.</p>\n\n<p>1.) Log in to the Income Tax India website <a href="https://portal.incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html?lang=eng" target="_blank">https://portal.incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html?lang=eng</a></p>\n\n<p>2.) View e-filed tax returns by clicking on 'View Returns/ Forms' option</p>\n\n<p><u><strong>Select option Income tax returns</strong></u></p>\n\n<p>Details of all the years for which returns are filed will be displayed</p>\n\n<p>1.) Click on the acknowledgement numberto download the ITR-V.</p>\n\n<p>2.) Begin the download by selecting 'ITR-V Acknowledgment'</p>\n\n<p>3.) To open the downloaded document, enter your password to open the document. The password is your PAN number in lower letters along with your birthdate.</p>\n\n<p><u><strong>For example-</strong></u></p>\n\n<p>PAN - ASIJP2345P</p>\n\n<p>Birthdate - 31/12/1980</p>\n\n<p>Password - asijp2345p31121980</p>\n\n<ul>\n\t<li>You need to send the printed and signed document to CPC Bangalore within 120 days of the e-filing.There is also an option of E verification of Income tax return by generating aadhar otp, through net banking, through ATM etc</li>\n</ul>\n\n<h3><strong>Why should i file my Income tax return?</strong></h3>\n\n<p>A lot of individuals seem to think that filing tax returns is voluntary and therefore dismiss it as unnecessary and burdensome. As we will see, this is not a very healthy perspective on tax-filing.</p>\n\n<p><a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/how-to-file-income-tax-returns-online">Filing tax returns</a> is an annual activity seen as a moral and social duty of every responsible citizen of the country. It is the basis for the government to determine the amount and means of expenditure of the citizens and provides a platform for the assesse to claim refund, among other forms of relief from time to time.</p>\n\n<h3>1. <span class="marker">Filing returns is a sign you are responsible</span></h3>\n\n<p>The government mandates that individuals who earn a specified amount of annual income must file a tax return within a pre-determined due date. The tax as calculated must be paid by the individual. Failure to pay tax will invite penalties from the Income Tax Department.</p>\n\n<p>Those who earn less than the prescribed level of income can file returns voluntarily.</p>\n\n<p>Filing returns is a sign that you are responsible. Not just that, it also makes it easier for individuals and businesses to enter into subsequent transactions since their income is recorded by the tax department with applicable tax, if any, having been paid.</p>\n\n<h3>2. Filing returns is mandatory in some cases</h3>\n\n<p>Even if your income level does not qualify for mandatory filing of returns, it may still be a good idea to voluntarily file returns. In most states, registration of immovable properties requires advancing as proof the tax returns of last three years. Filing returns makes it easier to register the transaction.</p>\n\n<h3>3. Your loan or card company may want to see your return</h3>\n\n<p>If you plan to apply for a home loan in future it is a good idea to maintain a steady record of filing returns as the home loan company will most likely insist on it. In fact, you may even consider filing your spouse’s returns if you want to apply for a loan as a co-borrower. Likewise, even credit card companies may insist on proof of return before issuing a card.</p>\n\n<p>Financial institutions may insist on seeing your returns over the past few years before transacting with you. In fact, the government may make it mandatory for them to do so, thereby indirectly nudging individuals to file returns regularly even when it’s voluntary.</p>\n\n<h3>4. If you want to claim adjustment against past losses, a return is necessary</h3>\n\n<p>Filing returns on time has many advantages regardless of whether you draw the prescribed level of income necessary to file returns.</p>\n\n<p>Various losses incurred by an individual or a business, both speculative as well as non-speculative, short term as well as long term capital losses and various other types of losses not recorded in the tax return in a financial year, cannot be shown for exemption in subsequent years for the purpose of <a href="https://www.hdfclife.com/financial-tools-calculators/income-tax-calculator" target="_blank">tax calculation</a>. So it’s best to file returns regularly, because you never know when you may want to claim an adjustment against past losses.</p>\n\n<h3>5. Filing returns may prove useful in case of revised returns</h3>\n\n<p>In case the assesse hasn’t filed the original return, he cannot subsequently file a revised return, even when he really needs to. Under the Income Tax Act, non-filing of returns can attract a penalty of Rs 5,000. So while filing returns is a voluntary activity, there are times when it could hold legal implications for those who do not do so, especially if they must file a revised return in future.</p>\n\n<p> </p>\n\n<h3><strong>What are the Advantages of filing Income tax return?</strong></h3>\n\n<p>1. <strong>Prompt processing</strong></p>\n\n<p>The acknowledgment of Income Tax Return (ITR) is quick. More importantly, refunds, if any, are processed faster than paper-filed returns.</p>\n\n<p><strong>2. Better accuracy</strong></p>\n\n<p>E-filing software with built-in validations and electronic connectivity is seamless and minimizes errors considerably. Paper-filings can be prone to errors. Also, when any paper-based form is migrated to the electronic system, there is a possibility of human error in data entry.</p>\n\n<p><strong>3. Convenience</strong></p>\n\n<p>No time and place constraint in filing returns online. E-filing facility is available 24/7 and you can file anytime, anywhere at your convenience.</p>\n\n<p><strong>4. Confidentiality</strong></p>\n\n<p>Better security than paper filings since your data is not accessible to anyone either by design or by chance. With paper filings details of your income can fall in the wrong hands at your chartered accountant’s office or in the <a href="https://www.hdfclife.com/insurance-knowledge-centre/income-tax-returns/income-tax-slab-2020-21" target="_blank">Income Tax</a> Department’s office.</p>\n\n<p><strong>5. Accessibility to past data</strong></p>\n\n<p>You can easily access past data while filing returns. Most e-filing applications store data in a secure manner and allow for easy access at the time of filing subsequent returns.</p>\n\n<p><strong>6. Proof of receipt</strong></p>\n\n<p>You get prompt confirmation of filing, both at time of filing and subsequently, via email on your registered email id</p>\n\n<p><strong>7. Ease of use</strong></p>\n\n<p>E-filing is friendly and the detailed instructions make it easy even for individuals not very conversant with the internet</p>\n\n<p><strong>8. Electronic banking</strong></p>\n\n<p>Convenience of direct deposit for refund and direct debit for tax payments. You have the option to file now, pay later - decide what day to debit your bank account for tax payment, among other convenience features.</p>\n\n<h3><strong>Related Articles</strong></h3>\n\n<ul>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/income-tax-slab-2020-21" target="_blank">Income Tax Slab 2020-21 (AY 2021-22)</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/what-is-income-tax-return" target="_blank">Income Tax Return - What do you need to know?</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/Tax-Structure-in-India" target="_blank">Tax Structure & Taxation System In India</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/how-to-make-a-tax-file-declaration-to-your-employer" target="_blank">How to Make a Tax File Declaration to Your Employer</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/income-tax-calculation" target="_blank">How to calculate income tax in India</a></li>\n</ul>\n\n<p> </p>\n\n<center style="position: relative;"><a class="btn btn-primary btn-fulid accDCont" href="https://www.hdfclife.com/financial-tools-calculators/income-tax-calculator" style="text-align: center; width: 55%;min-width:320px; font-size: 20px; text-transform: none; background-color: rgb(213, 29, 37); border-color: rgb(213, 29, 37); position: relative;" target="_blank">Income Tax Calculator</a></center>\n\n<p> </p>\n\n<h2><u><strong>Frequently asked questions (FAQ's)</strong></u></h2>\n\n<h3><b>✅ What are the benefits of filing my return of income?</b></h3>\n\n<p>Apart from making you a responsible citizen, filing tax returns allows you to-</p>\n\n<ul>\n\t<li>Claim tax deductions under several sections of the Income Tax Act to reduce your tax outgo.</li>\n\t<li>Claim refunds on excess tax payments, particularly when TDS is subtracted from your income, and the total taxes you are eligible to pay are less than the tax amount deducted.</li>\n\t<li>Adjust your capital gains and losses. The Income Tax laws allow you to adjust capital losses against capital gains, and also to carry forward capital loss for the next 8 consecutive financial years.</li>\n\t<li>Avail a loan or opt for a credit card easily. </li>\n\t<li>Smoothen your visa process while traveling overseas as many countries  need proof of your regular income.</li>\n</ul>\n\n<h3><b>✅  What precautions should be taken while filing ITR?</b></h3>\n\n<p>Never file your return hurriedly at the last hour: Filing your return at the last minute is troublesome. Instead, file your return at least a month or so ahead of the due date which mostly happens to be <strong>31<sup>st</sup> of July every year</strong>, unless the government extends the date. Filing your returns at the last minute increases your chances of making mistakes and you may get notice from the tax authorities for a silly technical detail that you oversaw.</p>\n\n<p><u><strong>Get your math right:</strong></u> It is important to get your figures calculated right so that you do not end up having to pay excess tax. Prior to this, you will have to get all your papers such as your <a href="https://www.incometaxindia.gov.in/Pages/tax-services/online-26AS-e-filing-website.aspx">Form 26AS</a> your bank statements, tax deducted at source (TDS) certificates  neatly arranged so you do not arrive at any wrong figures on how much taxable income you have to pay. To reduce the chances of error as well as to claim a refund, it is better you go for e-filing of your returns preferably through a tax conversant professional.</p>\n\n<p>Report all your sources of income:  You should disclose all your sources of income. This is irrespective of whether this income is obtained through active or passive means such as interest on fixed deposits.  Any attempt to hide your sources of income could land you in a legal soup and you could be tarnished as a tax evader.</p>\n\n<h3><strong>✅ What is Form 26AS?</strong></h3>\n\n<p><a href="https://www.incometaxindia.gov.in/Pages/tax-services/online-26AS-e-filing-website.aspx">Form 26AS</a> is a document containing particulars of various taxes deducted from your income by various entities such as your bank, your employer or even your insurance agency. It is a consolidated credit statement issued at the end of every financial year under <strong><a href="https://www.incometaxindia.gov.in/_layouts/15/dit/Pages/viewer.aspx?grp=Act&cname=CMSID&cval=102120000000071107&searchFilter=%5B%7B%22CrawledPropertyKey%22:1,%22Value%22:%22Act%22,%22SearchOperand%22:2%7D,%7B%22CrawledPropertyKey%22:0,%22Value%22:%22Income-tax%20Act,%201961%22,%22SearchOperand%22:2%7D,%7B%22CrawledPropertyKey%22:29,%22Value%22:%222018%22,%22SearchOperand%22:2%7D%5D&k=&IsDlg=0">Section 203AA</a></strong> of the Income Tax Act, 1961.</p>\n\n<p>It also furnishes information on how much advance tax or self-assessment tax you have paid during the year. Tax collected at source details as well as any refunds due are also visible in Form 26 AS. Every tax payer must cross check his Form 26 AS so that he/she is able to match the tax deducted with any taxes paid by them during the financial year.  This can help rectify errors caused by wrong permanent account numbers, faulty TDS receipts and so on.</p>\n\n<p>You can obtain a copy of your current financial year’s <a href="https://www.incometaxindia.gov.in/Pages/tax-services/online-26AS-e-filing-website.aspx">Form 26AS</a> by visiting the income tax website and logging in by inserting your PAN and e filing password. Once you are in the Income Tax department’s e-filing website, which is <a href="https://incometaxindiaefiling.gov.in/">https://incometaxindiaefiling.gov.in</a>, click on View Form 26 AS(Tax Credit) under My Account or Quick Links sections. A new window will open where you can download the relevant assessment year 26AS from the TDS-CPC website. </p>\n\n<h3><strong>✅ If I have paid excess tax how will it be refunded to me?</strong></h3>\n\n<p>The first thing to keep in mind before claiming your refund for excess tax paid is to know that there is a deadline for doing so.  One condition stipulated for claiming the refund is that you have to file your returnof the respective assessment year within the stipulated time  to claim the refund. Assessment year is the financial year (FY) following one financial year.</p>\n\n<p>A refund is due only when you have proof to show that you paid more than your liability. This usually happens when the advance tax or self-assessment tax is more than the tax you are required to pay or when the tax deducted at source is more that your total tax liability.</p>\n\n<p>After you file your returns and assuming you have input the correct contact information, the tax authorities send you a message or email informing you that your tax to be paid matches that of the tax department, or that there is a mismatch, in which case a demand is raised for you to cover the shortfall, or you get only a partial refund, or your refund is accepted in full.</p>\n\n<p>What amount of refund you are eligible for is calculated automatically once you fill all the details in the ITR form. Thereafter, you just need to click on the Taxes Paid and Verification button. The refund due is reflected in the Refund Row according to the information submitted.</p>\n\n<h3><strong>✅ Who is eligible for income tax return?</strong></h3>\n\n<p>While any one having a valid PAN  is eligible to file IT return even if their income is below exemption limit, it is mandatory for companies and firms to file ITR. </p>\n\n<p>Individuals whose taxable income exceeds the maximum amount not chargeable to tax are eligible for income tax return. The basic exemption limit for FY 2019-20 is Rs 3 lakh for senior citizens (aged between 60 and 80 years), Rs 5 lakh for super senior citizens (aged 80 years or more), and Rs 2.5 lakh for others.</p>\n\n<p>Those looking to claiming a tax refund or availing a loan, Indian residents acting as a signing authority for any foreign account, Indian residents possessing an asset or financial interest located outside India are eligible to file ITR.</p>\n\n<p>NRIs whose total annual gross income earned or accrued in India exceeds Rs2,50,000 are also eligible to file ITR.</p>\n\n<h3><strong>✅ </strong><b>What is e verification of income tax return?</b></h3>\n\n<p>Verification of income tax return  is required after filing your income tax returns. While it was earlier mandatory to send the physical copy of ITR-V duly signed to the IT department in Bengaluru within 120 days of e-filing ITR, it can now be done through a quick online process called e-verification. </p>\n\n<p>ITRs are e-verified by generating an Electronic Verification Code (EVC), a 10-digit alphanumeric code which is unique to a PAN (permanent account number). Only one online income tax return can be verified on one EVC code. If you have e-verified your ITR via EVC, you don’t have to send the physical ITR-V to the CPC Centre in Bengaluru. </p>\n\n<p>E-verification can be done through Net Banking, Aadhar Card OTP or the government's e-filing portal.</p>\n\n<h3><strong>✅ </strong><b>How do I know if I need to file tax returns?</b></h3>\n\n<p>  You need to file tax returns if</p>\n\n<ul>\n\t<li>your income exceeds Rs. 2.5 lakh, even if you are an NRI. This limit is Rs 3 lakh for senior citizens (aged between 60 and 80) or Rs 5 lakhs for super senior citizens (aged above 80).</li>\n\t<li>You are a company or a firm, regardless of whether you have earned a profit or incurred a loss during the financial year</li>\n\t<li>If you want to claim an income tax refund</li>\n\t<li>If you want to carry forward a loss under a head of income</li>\n\t<li>if you are a Resident Indian and have an asset or financial interest in an entity located outside of India</li>\n</ul>\n\n<div>\n<ul>\n\t<li>if you are a Resident Indian and a signing authority in a foreign account.</li>\n</ul>\n</div>\n\n<p align="justify">Disclaimer:</p>\n\n<p align="justify">The above article is basis our understanding of the current tax laws and the person should consult his tax consultant and should not act on the basis of above only</p>\n\n<p><strong>ARN: ED/12/19/17049</strong></p>\n</div>\n</div>\n</article>\n</div>\n</div>', 'title': 'Income Tax Return - What Do You Need to Know?', 'image': {'banner': '4UnRFFOcI5hRoR8'}, 'excerpt': 'Income Tax Return (ITR) - Understand what is income tax return and how to file ITR and calculate it. Follow step by step guide on ITR filing process, income tax slabs, deductions. View complete definition & meaning of income tax return (ITR) on HDFC Life.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 64185, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-07T08:00:00Z'}, {'id': 111, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'What is Insurance Premium? - HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'HDFC Life helps you understand what is insurance premium and how it is calculated. Insurance premium is the sum of money an individual or business must pay for insurance policy. Knowing your insurance before you buy it is very important. View complete definition & meaning and calculate insurance premium on HDFC Life.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'what is insurance premium, insurance premium definition, insurance premium meaning'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:What is Insurance Premium\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:What is Insurance Premium\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/what-is-insurance-premium'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Monthly Income Payout in Term Insurance'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_tile.jpg', 'id': 'OwdSmjW4K2VPkwA', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_tile.jpg', 'slug': 'what-is-insurance-premium', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/what-is-insurance-premium', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section12">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p class="float-left">The insurance premium is the sum of money an individual or business must pay for an<a href="https://www.hdfclife.com/insurance-plans" target="_blank"> insurance policy</a>. The amount of insurance premium that is paid out by the policyholder to the insurance company depends on a variety of factors.</p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="inner-plans-wrp generic ">\n<h3><strong>What is Insurance Premium?</strong></h3>\n\n<p>Insurance premium is a specified amount stipulated by the insurance company, which the insured individual should periodically pay to maintain the actual coverage of insurance.</p>\n\n<p>As a process, insurance companies examine the type of coverage, the likelihood of a claim being made, the area where the policyholder lives, his employment, his habits (smoking for instance), his medical condition (diabetes, heart ailments) among other factors.</p>\n\n<p>Insurance companies employ actuaries for the purpose of determining, for example, the likelihood of a claim being for a heart attack or cancer or another critical illness by individuals across various age groups and lifestyles. The greater the risk associated with an event / claim, the more expensive the insurance premium will be.</p>\n\n<p>Insurance companies offer policyholders a number of options when it comes to paying insurance premium. Policyholders can generally pay the insurance premium in installments, for example monthly or semi-annual payments, or they can even pay the entire amount upfront before coverage starts.</p>\n\n<p>In case of non-life insurance, like auto insurance for instance, the annual insurance may be reduced following a no-claim year. Conversely, the premium can rise following a claim year.</p>\n\n<p> </p>\n\n<h3><strong>Similar Articles:</strong></h3>\n\n<ul>\n\t<li><a href="/" target="_blank" title="Life Insurance">Insurance Plans in India</a></li>\n\t<li><a href="/insurance-knowledge-centre/compare-life-insurance-plans/" target="_blank" title="Compare Life Insurance Plans">Life Insurance Comparison</a></li>\n\t<li><a href="/insurance-plans" target="_blank" title="Life Insurance Plans and Policies by HDFC Life">Life Insurance Plans by HDFC Life</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/health-insurance-comparison" target="_blank">Heath Insurance Comparison</a></li>\n</ul>\n\n<h3><strong>Similar Insurance Definitions:</strong></h3>\n\n<ul>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-health-insurance" target="_blank" title="Meaning of Health Insurance">What is Health Insurance?</a></li>\n\t<li><a href="/insurance-knowledge-centre/insurance-definitions/what-is-cancer-insurance/" target="_blank" title="Meaning of Cancer Insurance">What is Cancer Insurance?</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-term-insurance" target="_blank" title="Meaning of Term Insurance">What is Term Insurance?</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-net-asset-value" target="_blank" title="Meaning of Net Asset Value">What is Net Asset Value?</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-systematic-investment-plan" target="_blank" title="Meaning of Systematic Investment Plan">What is Systematic Investment Plan?</a></li>\n</ul>\n</div>\n</div>\n</div>\n</article>\n</div>\n</div>', 'title': 'Insurance Premium - Definition & Meaning', 'image': {'banner': 'OwdSmjW4K2VPkwA'}, 'excerpt': 'HDFC Life helps you understand what is insurance premium and how it is calculated. Insurance premium is the sum of money an individual or business must pay for insurance policy. Knowing your insurance before you buy it is very important. View complete definition & meaning and calculate insurance premium on HDFC Life.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 4549, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-07T07:51:00Z'}, {'id': 99, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'What is Net Asset Value (NAV) - Definition by HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Understand what is net asset value and how it is calculated. View complete definition & meaning of net asset value on HDFC Life. To know more about net asset value, Click here!'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'what is nav, what is net asset value, nav meaning, net asset value meaning'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:Net Asset Value\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:Net Asset Value\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/what-is-net-asset-value/'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Compare Retirement and Pension Plans'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_tile.jpg', 'id': 'LliizKngfXf9iEf', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_tile.jpg', 'slug': 'what-is-net-asset-value', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/what-is-net-asset-value', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\r\n<div class="postDesc contentPage">\r\n<div class="scrollBlock">\r\n<article class="innerBlk" id="section12">\r\n<div class="term-assurance">\r\n<div class="head-wrp float-left clearfix">\r\n<p class="float-left">The net asset value (NAV) of a <a href="/insurance-knowledge-centre/about-life-insurance/what-is-ulip-plans/" target="_blank" title="What is ULIP"> unit-linked insurance plan (ULIP)</a>/ mutual fund is the total value of its holdings net of admissible expenses.</p>\r\n</div>\r\n\r\n<div class="float-left" id="mymain">\r\n<div class="top-desc-wrp">\r\n<div class="clearfix">\r\n<div class="img-wrp" style="text-align: left;">The NAV is calculated by adding the ULIP / mutual fund’s holdings as on a particular day less all liabilities like management fees, operating expenses, marketing expenses , among other permissible expenses and charges.</div>\r\n</div>\r\n</div>\r\n\r\n<div class="inner-plans-wrp generic ">\r\n<p>The net asset value represents the value of the total holdings of the ULIP / mutual fund.It may be divided by the number of units held by investors and, thereby, represent the net asset value per unit (NAV/unit).</p>\r\n\r\n<p><strong>This can be understood easily with the help of an example.</strong></p>\r\n\r\n<p>Let us take a ULIP launched by ABC Life. This is how its NAV is typically calculated.</p>\r\n\r\n<p>ABC Life ULIP has total holdings as on date of Rs 11 lakhs</p>\r\n\r\n<p>Less: Related Expenses Rs. 1 lakh<br />\r\n<b>Net Asset Value Rs. 10 lakhs</b><br />\r\nNo. of units Rs. 1 lakh<br />\r\n<b>NAV per unit Rs. 10</b></p>\r\n\r\n<p>There is some misconception with regards the NAV. Investors perceive a higher NAV as being ‘expensive’ and may choose to give the investment a miss. They may settle for an investment with a lower NAV because it’s ‘inexpensive’.</p>\r\n\r\n<p>As we have seen the NAV is merely the book value of the <a href="https://www.hdfclife.com/savings-investment-plans/click-2-invest-ulip-plan" target="_blank">ULIP </a>/ mutual fund’s investments minus expenses. It is not inflated nor is it misrepresentative. It represents the fair price of its assets should the mutual fund liquidate all its investments on that day. Investors need not be concerned about the price being too high or low. Therefore, a higher or lower NAV holds no significance and should not be the basis for identifying the right ULIP / mutual fund.</p>\r\n\r\n<p><strong>Similar Articles:</strong></p>\r\n\r\n<ul>\r\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/what-is-wealth-management/" target="_blank" title="Wealth Management Definition">What is Wealth Management?</a></li>\r\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/financial-planning-basics/" target="_blank" title="Financial Planning Guide">Basics of Financial Planning</a></li>\r\n\t<li><a href="/fund-performance/nav" target="_blank" title="ULIP, Daily and Historic NAV">Latest ULIP, Daily and Historic NAV Values</a></li>\r\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/compare-ulip-plans" target="_blank">Compare Unit Linked Insurance Plans</a></li>\r\n</ul>\r\n\r\n<h3><strong>Popular Insurance Definitions:</strong></h3>\r\n\r\n<ul>\r\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-term-insurance" target="_blank" title="Meaning and Definition of Term Insurance">What is Term Insurance?</a></li>\r\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-health-insurance" target="_blank" title="Meaning and Definition of Health Insurance">What is Health Insurance?</a></li>\r\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-systematic-investment-plan" target="_blank" title="Meaning and Definition of Systematic Investment Plan">What is Systematic Investment Plan?</a></li>\r\n\t<li><a href="/insurance-knowledge-centre/insurance-definitions/what-is-cancer-insurance/" target="_blank" title="Meaning and Definition of Cancer Insurance">What is Cancer Insurance?</a></li>\r\n</ul>\r\n</div>\r\n</div>\r\n</div>\r\n</article>\r\n</div>\r\n</div>', 'title': 'What is Net Asset Value?', 'image': {'banner': 'LliizKngfXf9iEf'}, 'excerpt': 'The net asset value (NAV) of a unit-linked insurance plan (ULIP)/ mutual fund is the total value of its holdings net of admissible expenses.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 4798, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-07T07:44:00Z'}, {'id': 101, 'tag_list': [{'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'SIP - What is (SIP) and Key Reasons to Opt for It | HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'HDFC Life helps you understand what SIP means and how does it work. View complete definition and meaning of systematic investment plans on HDFC Life. To Know more, Visit Now '}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'what is sip, what is systematic investment plan, systematic investment plan definition, sip definition, sip meaning, systematic investment plan meaning'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:What is SIP\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:What is SIP\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'ITR Meaning'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_tile.jpg', 'id': 'n7VcTlg3TKhjcOV', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB4_inW1Vac_tile.jpg', 'slug': 'what-is-sip-systematic-investment-plan', 'tags': ['Investment', 'Child', 'Retirement', 'Health', 'Tax', 'Insurance Basics'], 'url': '/insurance-knowledge-centre/about-life-insurance/what-is-sip-systematic-investment-plan', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section12">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<h2 class="float-left">What is SIP?</h2>\n\n<p class="float-left"><a href="https://www.hdfclife.com/savings-investment-plans" target="_blank">Systematic investment plan</a> (full form of SIP) is an investment strategy offered by fund houses to investors, making it convenient to invest small sums of money in their mutual funds. The frequency of investment varies from weekly to monthly to quarterly.</p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<div class="description">\n<p>Systematic <a href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/14-best-investment-plans-in-India">investment plan</a> is a convenient way for retail investors to participate in stockmarket growth.</p>\n</div>\n</div>\n</div>\n\n<div class="inner-plans-wrp generic ">\n<p>Putting in smaller sums of money works better for investors as it is easy on the wallet and allows them to benefit from rupee cost averaging.</p>\n\n<p>Here are 5 key reasons for investors to take up SIPs:</p>\n\n<ul>\n\t<li>\n\t<h3>1. Time in the Market, Not Market-Timing</h3>\n\n\t<p>A big concern that stops individuals from entering stockmarkets is wrong timing. They worry about getting the timing right so that they don’t end up entering high and selling low. Many investors do not return to stockmarkets for long periods of time, after being scarred with negative experiences.</p>\n\n\t<p>While equities can be volatile, there is an easy way to negotiate the volatility. The SIP is one such way, since it spreads investments over a long period of time. With more time in the market, you stand a better chance of earning a superior return as opposed to a single lump sum investment.</p>\n\t</li>\n\t<li>\n\t<h3>2. Lower Average Purchase Cost</h3>\n\n\t<p>Over a market upturn and downturn – also known as market cycle – SIPs lower the average purchase cost of investing. The ups and downs of equity markets work to the investor’s benefit over the long term.</p>\n\t</li>\n\t<li>\n\t<h3>3. Benefits of Compounding</h3>\n\n\t<p>By investing regularly in equity markets through SIP, you can grow your wealth considerably over time. You can thank ‘compounding’ for this. Simply put, compounding means earning a return on return. By investing regularly in equities over longer time frames, investors give themselves a chance to benefit from one or more market cycles.</p>\n\t</li>\n\t<li>\n\t<h3>4. Affordable</h3>\n\n\t<p>SIPs are convenient because they create a low entry point for investors looking at investing in equities. With an SIP amount as low as Rs 500/month, even a student with spare pocket money can start an SIP.</p>\n\t</li>\n\t<li>\n\t<h3>5. Innovation</h3>\n\n\t<p>SIPs have seen considerable innovation over the years to facilitate greater investor participation. You can opt for direct bank account debit, daily/weekly/fortnightly/quarterly SIPs, set NAV limits, subscribe to NAV alerts and so on.</p>\n\t</li>\n</ul>\n\n<p> </p>\n\n<h3><strong>Similar Articles:</strong></h3>\n\n<ul>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/14-best-investment-plans-in-India" target="_blank" title="Wealth Management Definition">14 Best Investment Plans In India</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/tax-saving-investments-2020" target="_blank" title="Financial Planning Guide">5 Best Tax Saving Investement Options for FY 2020-21</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/best-investment-options-in-india" target="_blank" title="Pension Plans by HDFC Life">10 Best Short Term Investment Options/Plans in India</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/best-short-term-investment-options-in-india-2021" target="_blank">Top 7 Short Term Investment Options for 2021</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/ulips-or-sip" target="_blank">ULIPs or SIP: How to Choose Wisely</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/all-about-sip-calculators" target="_blank">Understand the value of SIP for fund investments: SIP Calculator</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/tax-efficient-mutual-funds" target="_blank">Tax efficient Mutual Funds - why SIP helps</a></li>\n</ul>\n</div>\n</div>\n</div>\n</article>\n</div>\n</div>\n\n<p style="text-align: center;"><a class="nav-btn red-btn" href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning" rel="noopener" style="position: relative; color: #fff; background: #d51d25; border-radius: 2px; vertical-align: middle; font: 14px \'Source Sans Pro\'; font-weight: 600; padding: 10px 20px; margin-right: 8px; margin-left: 0;" target="_blank">More about Investment Plan</a></p>', 'title': 'Systematic Investment Plan - Definition & Meaning', 'image': {'banner': 'n7VcTlg3TKhjcOV'}, 'excerpt': "HDFC Life helps you understand what SIP means and how does it work. View complete definition and meaning of systematic investment plans on HDFC Life. Click here to learn more about investing in SIP it's meaning and how to get maximum monetary benefits.", 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 10655, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-07T07:50:00Z'}, {'id': 104, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'What is Term Insurance? - Meaning of Term Plan | HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Before making a financial plan for yourself, it is very important to know the meaning of term insurance. Read this blog to know the details about term plan!'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'what is term insurance, term insurance meaning, what is term plan, term plan online'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:What is Term Insurance\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:What is Term Insurance\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/what-is-term-insurance'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Term Insurance Meaning'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_tile.jpg', 'id': 'NHs1ROzIjpqDIYK', 'url': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/KC_Article_Resized_Image_tile.jpg', 'slug': 'what-is-term-insurance', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/what-is-term-insurance', 'content': '<h2>What is term insurance?</h2>\n\n<p>Term insurance is a life insurance product, which offers financial coverage to the policyholder for a specific time period. In case of death of the insured individual during the policy term, the death benefit is paid by the company to the beneficiary. One should know importance of term insurance key features and why you should opt for it before <a href="https://www.hdfclife.com/insurance-knowledge-centre/term-insurance-buying-guide">buying term insurance</a>.</p>\n<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<p>The purpose of taking life insurance is to provide life cover to the policyholder and financial security to his family.</p>\n\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section12">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p>There are two ways the individual can take life insurance:</p>\n\n<p>1. By opting for a pure life cover, also known as term insurance</p>\n\n<p>2. By taking life cover with a savings component built-in,also called endowment insurance</p>\n</div>\n\n<div class="float-left" id="mymain">\n<div class="top-desc-wrp">\n<div class="clearfix">\n<h2 class="img-wrp" style="text-align: left;"><strong>Why term insurance is better</strong></h2>\n</div>\n</div>\n\n<div class="inner-plans-wrp generic ">\n<p>Term plans provide pure life cover. This means there is no savings / profits component. They are basic plans which make life insurance more affordable vis-à-vis other options. It is possible for the policyholder to opt for a larger life cover at a lower premium when compared to a similar endowment plan.</p>\n\n<p> </p>\n\n<p style="text-align: center;"><a class="nav-btn red-btn" href="https://www.hdfclife.com/term-insurance-plans/click-2-protect-life" rel="noopener" style="position: relative; color: #fff; background: #d51d25; border-radius: 2px; vertical-align: middle; font: 14px \'Source Sans Pro\'; font-weight: 600; padding: 10px 20px; margin-right: 8px; margin-left: 0;" target="_blank">Buy Term Insurance</a></p>\n\n<p> </p>\n\n<h2><strong>Some of the key features that make term plans indispensable include</strong></h2>\n\n<h3><strong>1. Larger life cover </strong></h3>\n\n<p>Since <a href="https://www.hdfclife.com/term-insurance-plans">term life insurance  plans</a> are more affordable it is possible for an individual to opt for a higher life cover for the same premium as an endowment plan. For e.g. a 30-year old can get a term plan with a cover of Rs 1 crore for a 30-year term by paying a premium.</p>\n\n<p>The Rs 1 crore endowment plan will most likely out of bounds for most 30-year olds. However, taking a term plan for a similar cover is relatively more feasible.</p>\n\n<h3><strong>2. Riders</strong></h3>\n\n<p>The policyholder can attach riders to the term plan, thereby enhancing the utility of the policy. So by opting for a critical illness rider or a <a href="https://www.hdfclife.com/life-insurance-riders/critical-illness-plus-rider" target="_blank" title="Critical Illness Insurance">critical illness plan</a>, for instance, he is entitled to receive the sum assured on being diagnosed with the critical illness. This is in addition to the death benefit of an equal amount on death over the term of the policy. There are other riders to choose from like – loss of employment cover, disability cover, waiver of premium cover, among others. The policyholder should select riders based on his specific needs to make the life cover more suitable and meaningful.</p>\n\n<h3><strong>3. Enhanced cover</strong></h3>\n\n<p>Certain insurance companies offer the flexibility to enhance the life cover during critical stages of the policyholder’s life. For instance, the policyholder may be permitted to enhance life cover by 50% at the time of marriage and by 25% at the time of turning a parent. This makes it possible for him to start with a modest cover and then enhance it as responsibilities increase as also the ability to pay higher premium.</p>\n\n<h3><strong>4. Innovative features</strong></h3>\n\n<p>While insurance companies have been quick to innovate in general, they have been most innovative with regards to what is <a href="https://www.hdfclife.com/term-insurance-plans">term plans</a>. For instance, companies have been quick and proactive in cutting premium rates even offering extra discounts to certain categories like non-smokers, for instance. Buying term plans is now quite convenient thanks to the internet. It is possible for a healthy individual, as defined by the insurer, to buy a term plan over the internet without taking a medical test.</p>\n\n<p> </p>\n\n<h3><strong>Similar Articles:</strong></h3>\n\n<ul>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/term-insurance-buying-guide" target="_blank">Term Insurance Buying Guide - HDFC Life</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/how-to-buy-term-insurance-online" target="_blank">How to Buy Term Life Insurance Online?</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/term-insurance-mistakes-to-avoid" target="_blank">HDFC Life Click 2 Protect 3D Plus, HDFC Life Click2Protect 3D plus provides you with 9 plan options, Benefits</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/faqs-on-term-insurance" target="_blank">10 FAQs on Term Insurance</a></li>\n\t<li><a href="https://www.hdfclife.com/term-insurance-plans/" target="_blank" title="Term Insurance Policies">Life Term Insurance Plans</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/term-insurance-comparison" target="_blank" title="Compare Online Term Plans">Term Insurance Comparison between HDFC Life Click2Protect and HDFC Life Click2Protect Plus</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/money-back-plans-comparison" target="_blank">Compare Money Back Policy</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/latest-income-tax-slab-and-deductions-fy-2017-18" target="_blank" title="Income Tax 2017">Income Tax Slab AY 2018-19</a></li>\n</ul>\n</div>\n</div>\n</div>\n</article>\n</div>\n</div>\n\n<p> </p>\n\n<p style="text-align: center;"><a class="nav-btn red-btn" href="https://onlineinsurance.hdfclife.com/buy-online-term-insurance-plans/click-2-protect-life/basic-details" rel="noopener" style="position: relative; color: #fff; background: #d51d25; border-radius: 2px; vertical-align: middle; font: 14px \'Source Sans Pro\'; font-weight: 600; padding: 10px 20px; margin-right: 8px; margin-left: 0;" target="_blank">Calculate Premium</a></p>', 'title': 'Term Insurance - Definition & Meaning', 'image': {'banner': 'NHs1ROzIjpqDIYK'}, 'excerpt': 'Before making a financial plan for yourself, it is very important to know the actual meaning of term insurance. HDFC Life helps you understand what is term insurance with complete guidelines about it. Click here to know about what is term plan, its meaning, definition & more.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 61918, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-07T08:08:02Z'}, {'id': 15, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Family Life Insurance Planning Guide by HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': "Opting for term plans, child education plans & taking a loan cover are some of the best ways to secure the family's financial future through insurance. Read more."}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'life insurance plans, life insurance policies, family life insurance, family protection life insurance'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:Life Insurance For Family\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:Life Insurance For Family\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/life-insurance-for-family'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Compare Retirement and Pension Plans'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_tile.jpg', 'id': 'LliizKngfXf9iEf', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB1_aDVbE8Q_tile.jpg', 'slug': 'life-insurance-for-family', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/life-insurance-for-family', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<div class="postDesc contentPage">\n<div class="scrollBlock">\n<article class="innerBlk" id="section12">\n<div class="term-assurance">\n<div class="head-wrp float-left clearfix">\n<p>Tasked with the responsibility of securing the family’s financial future, it is upto the breadwinner to ensure his family is well-provided for, especially at a time when he is not around.</p>\n\n<h3>How to Plan Life Insurance for My Family?</h3>\n\n<p>Here are three ways an individual can provide for his family’s financial well-being:</p>\n\n<p><strong>1. Opt for Term Plans</strong></p>\n\n<p>Being the most basic form of Life Insurance, term plans are a no-brainer when it comes to securing the family’s finances. Term insurance provides pure risk cover, which explains the lower premiums. A fixed sum of money - the sum assured – is paid to the beneficiaries if the policyholder expires over the policy term. If the policyholder survives, there is no pay out.</p>\n\n<p><a href="/term-insurance-plans" target="_blank" title="Term plans">Term plans</a>, have several features that make them very useful for someone looking at securing theirfamily’s future. One can attach riders to the term plan. So if let’s say there is a <a href="/insurance-knowledge-centre/secure-your-health/impact-of-critical-illness/" target="_blank" title="Critical Illness Insurance">critical illness rider</a>, the policymaker is entitled to receive the sum assured on being diagnosed with the critical illness. This is in addition to the death benefit of an equal amount should he die over the term of the policy. Likewise there are other riders like disability cover, loss of employment cover, among others. The policyholder should select riders based on needs since they can add considerable value to the life cover.</p>\n\n<p>Another feature offered by term plans of certain insurance companies is the flexibility to enhance the life cover during critical stages of the policyholder’s life. For instance, an insurance company may allow policyholders to enhance the life cover by 50% at the time of marriage and by 25% at the time of turning a parent.</p>\n\n<p><strong>2. Go for Child Education Plan</strong></p>\n\n<p>Another plan the individual must consider is a <a href="/children-insurance-plans" target="_blank" title="Child Education Plan">Child Education Plan</a>. As the name suggests, the plan provides for your child’s higher studies. In the absence of the breadwinner, the child’s education needs are taken care of without putting undue pressure on the family’s finances.</p>\n\n<p><strong>3. Take Loan Cover</strong></p>\n\n<p>Since many individuals have taken a loan at some stage in their lives, it is important that they provide for the liability. In the absence of the breadwinner, it will be upto his dependents to pay the remaining loan amount. This could place considerable amount of burden on the family’s finances, especially if it’s long-term in nature like home loan for instance. Hence taking a home loan cover is important. In the absence of the policyholder, it can protect the family from the liability as the insurance cover can settle pending EMIs (equated monthly installments). ¬</p>\n\n<p>Disclaimer: The above mentioned factors are to be considered while choosing <a href="https://www.hdfclife.com/term-insurance-plans/click-2-protect-life" target="_blank" title="HDFC Life Click2Protect Plus Term Insurance Plan">Click 2 Protect Life</a><a href="https://www.hdfclife.com/term-insurance-plans/click-2-protect-life" target="_blank"> </a> as a term insurance product.</p>\n\n<h3><strong>Similar Articles:</strong></h3>\n\n<ul>\n\t<li><a href="https://www.hdfclife.com/term-insurance-plans/click-2-protect-life" target="_blank" title="HDFC Life Click2Protect Plus Term Insurance Plan">HDFC Life Click 2 Protect Life</a></li>\n\t<li><a href="/insurance-plans" target="_blank" title="Life Insurance Policy Plans">Life Insurance Plans</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/how-to-secure-family-future" target="_blank" title="Securing Your Family’s Future">How Do I Secure my Family’s Future</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/how-to-choose-right-plan" target="_blank" title="Selecting an Ideal Insurance Plan">How to Choose the Best Life Insurance Plan</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/choose-best-term-insurance-plan-in-2015/" target="_blank" title="Best Term Insurance Plan in 2015">How To Choose the Best Term Insurance Plan in 2015</a></li>\n\t<li><a href="/insurance-knowledge-centre/tax-saving-insurance/tax-saving-investments-in-2015/" target="_blank" title="Tax Saving Schemes">Tax Saving Investment Schemes in India</a></li>\n\t<li><a href="/savings-investment-plans/super-income-plan" target="_blank" title="Best Investment Plan in India">HDFC Life Super Income Plan - Best Investment Plan with Money Back Policy</a></li>\n</ul>\n\n<p> </p>\n</div>\n</div>\n</article>\n</div>\n</div>', 'title': 'How to Plan Life Insurance for My Family?', 'image': {'banner': 'LliizKngfXf9iEf'}, 'excerpt': 'Tasked with the responsibility of securing the family’s financial future, it is upto the breadwinner to ensure his family is well-provided for, especially at a time when he is not around.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 6015, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-08T11:04:00Z'}, {'id': 126, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'Title', 'slug': 'title', 'value': 'What is TDS (Tax Deducted at Source) - Definition by HDFC Life'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'Meta Description', 'slug': 'meta-description', 'value': 'Understand what is tax deducted at source (TDS), and how the deduction is calculated. View complete definition & meaning of tax deducted at source on HDFC Life.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'Meta Keyword', 'slug': 'meta-keyword', 'value': 'types of investment?\xa0, types of investments\xa0, investment types'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:What is Tax Deducted at Sources\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:What is Tax Deducted at Sources\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'Understand what is tax deducted at source (TDS), and how the deduction is calculated. View complete definition & meaning of tax deducted at source on HDFC Life.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'what is tax deducted at source, tax deducted at source definition, what is tds, tds definition'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'canonical url', 'slug': 'canonical-url', 'value': '/insurance-knowledge-centre/about-life-insurance/what-is-tax-deducted-at-sources'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'article button text', 'slug': 'article-button-text', 'value': 'Plan income tax'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'article button link', 'slug': 'article-button-link', 'value': 'https://www.hdfclife.com/insurance-knowledge-centre/about-life-insurance/what-is-tax-deducted-at-sources?source=NW_KC_TDS_PlInTax&agentcode=00399206'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Monthly Income Payout in Term Insurance'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_tile.jpg', 'id': 'OwdSmjW4K2VPkwA', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_tile.jpg', 'slug': 'what-is-tax-deducted-at-sources', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/what-is-tax-deducted-at-sources', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet" />\n<p>TDS or Tax Deducted at Source at prescribed rates is made mandatory by the Income Tax Act on certain persons responsible for making payments. The tax deducted has to be deposited by them to the government. The recipient of income receives the net amount (i.e. gross income minus direct <a href="http://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/are-you-getting-tax-benefits-from-your-life-insurance" target="_blank">tax deducted</a><a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/are-you-getting-tax-benefits-from-your-life-insurance" target="_blank"> </a>at source).</p>\n\n<h3>What is Tax Deducted At Source (TDS)?</h3>\n\n<p>Tax Deducted at Source or TDS is a means of collecting <a href="https://www.hdfclife.com/insurance-knowledge-centre/income-tax-returns/income-tax-slab-2020-21" target="_blank" title="Income Tax Slabs 2018-2019">income tax </a> in India.</p>\n\n<p>The provisions related to <a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/Deduction-under-section-80C" target="_blank">TDS</a> are governed by the Income Tax Act of 1961. The law states that any permissible payment shall be paid after deducting prescribed percentage as tax – usually over a range of 1% to 10%.</p>\n\n<p>The individual who receives the payment net of TDS (also known as the Assesse) is required to file return stating the TDS deducted and paid to government during over the relevant period.</p>\n\n<h3>Where is TDS applicable?</h3>\n\n<p>TDS is applicable on the following transactions:</p>\n\n<ul>\n\t<li>\n\t<p><strong>Transfer of certain immovable property other than agricultural land</strong></p>\n\t</li>\n\t<li>\n\t<p><strong>Payment to a contractor / sub-contractor for carrying out any work</strong></p>\n\t</li>\n\t<li>\n\t<p><strong>Rent</strong></p>\n\t</li>\n</ul>\n\n<p>The person deducting the TDS (deductor) is required to issue a TDS certificate to the deductee within a specified time.</p>\n\n<h3>What does non-compliance of TDS lead to?</h3>\n\n<p>Non-compliance of TDS is a grave offence and can lead to the following:</p>\n\n<ul>\n\t<li>\n\t<p><strong>Raising of demand (for TDS)</strong></p>\n\t</li>\n\t<li>\n\t<p><strong>Charging of interest</strong></p>\n\t</li>\n\t<li>\n\t<p><strong>Levying penalty</strong></p>\n\t</li>\n</ul>\n\n<p> </p>\n\n<h3><strong>Similar Articles:</strong></h3>\n\n<ul>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/income-tax-returns/income-tax-slab-2020-21" target="_blank" title="Income Tax Slab">Latest Income Tax Slab for FY 2020 and AY 2021</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/investment-for-future-planning/15-best-investment-plans" target="_blank" title="Tax Saving Plans and Options">Best Tax Saving Investment Plans</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/best-short-term-investment-options-in-2015" target="_blank" title="Short Term Investment Plans">Best Short Term Investment Options</a></li>\n\t<li><a href="/insurance-knowledge-centre/investment-for-future-planning/best-long-term-investment-options-in-2015" target="_blank" title="Long Term Investment Options">Best Long Term Investment Options</a></li>\n\t<li><a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/income-tax-slab-2019-20" target="_blank" title="Income Tax Deductions For AY 2018-19">Income Tax Slab For 2019-20</a></li>\n</ul>\n\n<h3><strong>Similar Insurance Definitions:</strong></h3>\n\n<ul>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-health-insurance" target="_blank" title="Meaning of Health Insurance">What is Health Insurance?</a></li>\n\t<li><a href="/insurance-knowledge-centre/insurance-definitions/what-is-cancer-insurance/" target="_blank" title="Meaning of Cancer Insurance">What is Cancer Insurance?</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-term-insurance" target="_blank" title="Meaning of Term Insurance">What is Term Insurance?</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-net-asset-value" target="_blank" title="Meaning of Net Asset Value">What is Net Asset Value?</a></li>\n\t<li><a href="/insurance-knowledge-centre/about-life-insurance/what-is-systematic-investment-plan" target="_blank" title="Meaning of Systematic Investment Plan">What is Systematic Investment Plan?</a></li>\n</ul>\n\n<p>To learn more about the income tax slabs AY 18-19, <a href="https://www.hdfclife.com/insurance-knowledge-centre/tax-saving-insurance/latest-income-tax-slab-and-deductions-fy-2018-19" target="_blank">click here.</a></p>\n\n<p> </p>', 'title': 'What is Tax Deducted at Source ?', 'image': {'banner': 'OwdSmjW4K2VPkwA'}, 'excerpt': 'TDS or Tax Deducted at Source at prescribed rates is made mandatory by the Income Tax Act on certain persons responsible for making payments.The tax deducted has to be deposited by them to the government.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 84160, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-03-11T10:19:04Z'}, {'id': 147, 'tag_list': [{'text': 'Insurance Basics', 'link': '/insurance-knowledge-centre/about-life-insurance'}, {'text': 'Tax', 'link': '/insurance-knowledge-centre/tax-saving-insurance'}, {'text': 'Health', 'link': '/insurance-knowledge-centre/secure-your-health'}, {'text': 'Retirement', 'link': '/insurance-knowledge-centre/retirement-planning'}, {'text': 'Child', 'link': '/insurance-knowledge-centre/child-future-planning'}, {'text': 'Investment', 'link': '/insurance-knowledge-centre/investment-for-future-planning'}], 'attributes': [{'type': 'textfield', 'data': {'label': 'title', 'slug': 'title', 'value': 'Life Freedom Index, Research Report â€“ HDFC Life ValueNotes'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'description', 'slug': 'description', 'value': 'HDFC Life ValueNotes displays Life Freedom Index Research Reports which consists of financial state of Urban Women and Young Aspirant in India.'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'keywords', 'slug': 'keywords', 'value': 'Research Report, HDFC Life, Urban Women Report, Life Freedom Index Report, Young Aspirant Report'}, 'validations': {}}, {'type': 'textarea', 'data': {'label': 'adobe dtm script', 'slug': 'adobe-dtm-script', 'value': '<script type="text/javascript">\n var digitalData = { \npage : {\n\'pageName\': \'HDFCLife:Knowledge Center:Insurance Basics:Life Freedom Index Research Report\', \n\'channel\':\'HDFCLife:Knowledge Center\', \n\'subSection2\':\'HDFCLife: Knowledge Center\',\n\'subSection3\':\'HDFCLife:Knowledge Center: Insurance Basics\',\n\'subSection4\': \'HDFCLife:Knowledge Center:Insurance Basics:Life Freedom Index Research Report\',\n\'userType\':\'guest/signed-in\'\n }\n};\n </script>'}, 'validations': {}}, {'type': 'textfield', 'data': {'label': 'carousel', 'slug': 'carousel', 'value': 'specialCarousel'}, 'validations': {}}], 'banner_image': {'alt': {'en': 'Monthly Income Payout in Term Insurance'}, 'banner_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y.jpg', 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_tile.jpg', 'id': 'OwdSmjW4K2VPkwA', 'url': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y.jpg'}, 'thumbnail_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_thumb.jpg', 'tile_image': 'https://brandsite-static.hdfclife.com/media/image/RS-IB3_qBwmG4y_tile.jpg', 'slug': 'life-freedom-index-research-report', 'tags': ['Insurance Basics', 'Tax', 'Health', 'Retirement', 'Child', 'Investment'], 'url': '/insurance-knowledge-centre/about-life-insurance/life-freedom-index-research-report', 'content': '<link href="/static/iwov-resources/css/style.css" rel="stylesheet"/>\n<p>A primary benchmark for indicating how financial free an Indian urban consumer is in terms of her financial awareness, planning, sufficiency, and adequacy of planning.</p>\n<h3>HDFC Life ValueNotes Life Freedom Index</h3>\n<p>A primary benchmark for indicating how financial free an Indian urban consumer is in terms of her financial awareness, planning, sufficiency, and adequacy of planning</p>\n<p>HDFC Life ValueNotes reveals that Life Freedom Index at 58.3 on a scale of 0-100 shows that Indian urban consumers’ current sense of financial freedom is low and is yet to reach a state of financial nirvana.</p>\n<p>The lack of financial freedom can be attributed to many factors - low financial awareness, inadequate planning and a general feeling that they need to do more to increase their financial sufficiency and adequacy.</p>\n<p>While chalking out their financial plans, Indian urban consumers give highest priority to expected events such as child’s education, dependent’s marriage, retirement, etc. While unexpected events such as accident, death or natural calamity rank second on the list of priorities, external factors (inflation, regulations, and interest rates) are given the least importance.</p>\n<p>The survey findings reveal that only 30-36% consumers take into account inflation during financial planning.</p>\n<p>The overall Financial Awareness Index for Indian consumers’ at 43.3 on a scale of 0-100 denotes low level of financial awareness. On event awareness, Indian urban consumers’ score at 28.2 is poor, while product knowledge (58.3), though significantly higher, is still low and needs considerable improvement.</p>\n<p><strong>The Life Freedom Index is made up of five sub-indices:</strong></p>\n<ul>\n<li><strong>Financial Awareness Index</strong>: Captures the financial product knowledge and the awareness level of events (expected, unexpected, and external factors) that can have a significant impact on current and future financial needs of Indian urban consumers.</li>\n<li><strong>Financial Planning Index</strong>: Reflects the existence of a comprehensive financial plan, which is regularly reviewed and realigned to address evolving financial needs.</li>\n<li><strong>Financial Sufficiency Index</strong>: Reflects the state of Indian consumers on the sufficiency of their financial plan to meet immediate financial needs.</li>\n<li><strong>Financial Adequacy Index</strong>: Reflects the level of confidence of the Indian consumer’s financial management practices being adequate to live life with dignity, independently and meet the desired standard of living throughout his lifetime.</li>\n<li><strong>Financial Liberty Index</strong>: Reflects the psychological feeling of ‘Financial Freedom’ and ‘Financial Security’ of Indian urban consumers.</li>\n</ul>\n<p>These five sub-indices together measure the state of finan¬cial freedom of urban Indian consumers across four consumer segments all of which fall under the Socio Economic Classification (SEC) groups A and B:</p>\n<ul>\n<li><strong>Chief Wage Earner</strong>: A person who contributes the most to the household income and is the key financial decision maker of the family, in the age group of 30 – 45 years</li>\n<li><strong>Wisdom Investor</strong>: A person who is aged 45 years or above</li>\n<li><strong>Young Aspirant</strong>: A person who is aged 20 to 30 years</li>\n<li><strong>Urban Woman</strong>: A woman aged 25 to 40 years</li>\n</ul>\n<ul>\n<li><a href="/documents/health/hdfc-life-valuenotes-report-final20170228-095920.pdf" target="_blank">The report is available for your perusal below.</a></li>\n<li><a href="/documents/health/hdfc-life-valuenotes_life-freedom-index-urban-women20170228-101130.pdf" target="_blank">HDFC Life ValueNotes Life Freedom Index - Urban Women report.</a></li>\n<li><a href="/documents/health/hdfc_life_freedom_index_young_aspirants120170228-102218.pdf" target="_blank">HDFC Life ValueNotes Life Freedom Index - Young Aspirant report.</a></li>\n</ul>\n<p>\xa0</p>', 'title': 'Research Report', 'image': {'banner': 'OwdSmjW4K2VPkwA'}, 'excerpt': 'A primary benchmark for indicating how financial free an Indian urban consumer is in terms of her financial awareness, planning, sufficiency, and adequacy of planning.', 'blog_author': None, 'category_url': '/insurance-knowledge-centre/about-life-insurance/', 'view_count': 1768, 'categories': ['insurance-knowledge-centre', 'about-life-insurance'], 'publish_at': '2016-11-28T09:03:00Z'}], 'bottom-button-link': None, 'bottom-button-text': 'LOAD MORE', 'label': 'category landing articles_Insurance Basic', 'alt': None, 'header-text': 'Articles related to Insurance Basics'}, 'id': 'JBLF55HAxogva1x', 'type': 'article_list', 'slug': 'category-landing-articles', 'template_url': 'kc-category-theme-one/widgets/article-list.tpl.html', 'fields': {'textfield': ['header-text', 'bottom-button-text', 'bottom-button-link']}}, 'etsyIsgD5S3J1Ms': {'id': 'mfKRB2W3dkFj81s', 'label': 'footer group websites homepage v2- Navigation', 'data': {'icon_url': None, 'label': 'footer group websites homepage v2- Navigation', 'alt': None, 'navigation': [{'children': [{'label': 'HDFC Health', 'image_url': '', 'type_of_link': 'external-link', 'highlighted_text': '', 'description': '', 'slug': 'hdfc-health', 'link': 'http://www.hdfchealth.com/'}, {'label': 'HDFC Ltd', 'image_url': '', 'type_of_link': 'external-link', 'highlighted_text': '', 'description': '', 'slug': 'hdfc-ltd', 'link': 'https://www.hdfc.com/'}, {'label': 'HDFC Bank', 'image_url': '', 'type_of_link': 'external-link', 'highlighted_text': '', 'description': '', 'slug': 'hdfc-bank', 'link': 'http://www.hdfcbank.com/'}, {'label': 'HDFC Securities', 'image_url': '', 'type_of_link': 'external-link', 'highlighted_text': '', 'description': '', 'slug': 'hdfc-securities', 'link': 'http://www.hdfcsec.com/'}, {'label': 'HDFC Mutual Fund', 'image_url': '', 'type_of_link': 'external-link', 'highlighted_text': '', 'description': '', 'slug': 'hdfc-mutual-fund', 'link': 'https://www.hdfcfund.com/'}, {'label': 'HDFC Pension - 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Z', 'data': {'alt': None, 'label': 'footer beware - Z', 'icon_url': None, 'header-text': 'BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS', 'description': {'label': 'description', 'text': '<p>• IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. 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