HDFC Life Term Insurance: Full Guide
HDFC Life is India’s largest listed private life insurer by market capitalisation, and its term insurance portfolio carries one of the most consistent claim settlement records in the industry. Founded in 2000 as a joint venture with Standard Life Aberdeen (UK), the company today operates as a subsidiary of HDFC Bank, which holds approximately 50.3% of the company. For term insurance buyers evaluating private insurers, HDFC Life offers a broad range of online plans with several features — women’s pricing discounts, very high entry-age limits, and tiered plan architecture — that are worth understanding before you decide.
This guide covers all active HDFC Life term plans, the verified FY 2024-25 claim and financial data, what the insurer does well, where it falls short, and who is most likely to benefit from choosing HDFC Life for term cover.
At a Glance
- 99.68% claim settlement ratio for FY 2024-25 — three consecutive years above 99% (FY 2022-23 onwards)
- Five active term plans, ranging from high-flexibility entry-level cover to high-ticket HNI-focused products
- Entry age up to 84 years on the flagship plan — unusually high for Indian term insurance
- 15% lifetime premium discount for women and an additional 10% discount for salaried employees
- Part of the HDFC group; access via HDFC Bank’s 8,000+ branch network
HDFC Life at a Glance — FY 2024-25
99.68%
Claim Settlement Ratio
194%
Solvency Ratio (Mar 2025)
₹2,060 Cr
Death Claims Paid
2000
Year Founded
HDFC Bank
Promoter (~50.3%)
19,666
Claims Settled (FY25)
Sources: HDFC Life CSR page · HDFC Life FY25 Press Release · FY25 Financial Results
Active Term Plans
HDFC Life currently offers five active pure-term and protection plans. An older product, Click 2 Protect Super, is in the process of being discontinued and should not be selected for new purchases. A whole-life savings plan, Sanchay Legacy, appears on the term insurance section of the website but is not a pure-term product.
Standard and Flagship Plans
| Plan | UIN | Entry Age | Max Maturity | Key Features |
|---|---|---|---|---|
| Click 2 Protect Supreme Plus (Newest flagship) | 101N189V01 | 18–84 (Life/Life Plus options); 18–65 (Life Goal option) | 85 years | 15% women’s discount; increasing cover up to 200%; spouse cover add-on; wellness benefits |
| Click 2 Protect Supreme | 101N183V01 | 18–84 (Life); 18–65 (Life Plus/Life Goal) | 85 years | 3 plan options; increasing cover; waiver of premium on CI/disability; 10% salaried discount |
| Click 2 Protect Life | 101N139V08 | 18+ (maximum age: verify with insurer) | Policy-term dependent | Income Plus option: guaranteed income from age 60 within the same plan |
High-Value Plans
| Plan | UIN | Entry Age | Min Sum Assured | Key Features |
|---|---|---|---|---|
| Click 2 Protect Elite Plus | 101N182V01 | 18–45 years | ₹50 lakh | Premium Break after 5 years (defer up to 12 months); Smart Exit Benefit from year 25; immediate ₹5 lakh payout on claim |
| Click 2 Protect Ultimate | 101N179V01 | 18–50 years | ₹1 crore | Sum assured capped at ₹3 crore; terminal illness benefit; designed for mid-HNI buyers |
Note: Click 2 Protect Super (101N145V08) is being discontinued. If you are holding this plan, it remains valid. Do not purchase it as a new policy.
Claim Settlement Ratio: Five-Year Trend
| Financial Year | CSR (Individual Death Claims) |
|---|---|
| FY 2019-20 | 99.10% |
| FY 2020-21 | 98.00% |
| FY 2021-22 | 98.70% |
| FY 2022-23 | 99.30% |
| FY 2023-24 | 99.50% |
| FY 2024-25 | 99.68% |
Source: HDFC Life official CSR page (hdfclife.com) and FY25 press release. Industry average CSR for FY 2024-25 was 98.45% (individual claims).
Three consecutive years above 99% (FY 2022-23 to FY 2024-25), with a consistent upward trend from FY 2021-22 onwards. The FY 2020-21 dip to 98.00% coincided with elevated pandemic-period claims across the industry.
Strengths
- Consistent claim performance: A CSR of 99.68% in FY 2024-25, above the industry average of 98.45%. HDFC Life settled 99% of non-investigated claims within one working day.
- Widest age range on a term plan: Click 2 Protect Supreme Plus accepts entry up to age 84 for its Life and Life Plus options. Most competitors cap at 65. This is a significant advantage for older buyers who may struggle to find cover elsewhere.
- Gender-based pricing: A 15% lifetime premium discount for women and a 10% discount for salaried employees on select plans, both of which are formally built into the product pricing — not a promotional offer.
- Tiered product architecture: The plan range covers basic protection, mid-level coverage, and high-ticket HNI plans (Elite Plus, Ultimate), each with distinct features. Buyers can match their profile rather than forcing a single-plan fit.
- Premium break feature (Elite Plus): The ability to defer premium payments for up to 12 months after five policy years — with full cover maintained — is rare in Indian pure-term plans.
- HDFC Bank distribution: Policies can be purchased through HDFC Bank’s 8,000+ branch network, in addition to the direct online channel and broker networks.
Watch-Outs
- Multiple overlapping plans can cause confusion: Five active Click 2 Protect variants with similar naming conventions (Supreme, Supreme Plus, Elite Plus, Ultimate, Life) require careful comparison. Read the UIN and plan brochure, not just the plan name, before applying.
- Age restrictions on high-value plans: Click 2 Protect Elite Plus is only available to buyers aged 18–45. Click 2 Protect Ultimate caps at 50. If you are above 45 and want ₹50 lakh+ cover with premium-break features, you are limited to Supreme Plus or Supreme.
- Solvency ratio is the lowest among the four private insurers reviewed here: At 194%, HDFC Life is well above the 150% IRDAI minimum, but lower than ICICI Prudential (212%), Axis Max Life (201%), or SBI Life (196%). This is not a risk indicator but is worth noting when comparing insurer financial strength.
- Click 2 Protect Life maximum entry age not publicly documented: Official product material does not clearly state the maximum entry age for this plan. Verify before applying, particularly if you are above 55.
- Click 2 Protect Super is being discontinued: If an agent or comparison site recommends this plan, ask them to confirm its status. Prefer the Supreme Plus instead.
Who HDFC Life Term Insurance Suits
- Women buyers: The 15% lifetime women’s discount makes HDFC Life term insurance meaningfully cheaper compared to gender-neutral pricing — and the discount applies for the full policy term.
- Salaried professionals: The additional 10% salaried discount on select plans reduces premiums further for those in formal employment.
- Older buyers (above 55): The unusually high entry age (up to 84 on Click 2 Protect Supreme Plus) is among the highest in the market, making HDFC Life an option for buyers who may be turned away elsewhere.
- Buyers who want income in later years: The Click 2 Protect Life “Income Plus” option pays a guaranteed income from age 60 within the term plan structure — useful for buyers thinking about retirement income alongside life cover.
- High-net-worth buyers: Click 2 Protect Elite Plus (minimum ₹50 lakh) and Ultimate (minimum ₹1 crore) are designed for this segment, with exit value and premium-break features not found in standard plans.
How This Decision Plays Out — An Illustrative Scenario
The following is a fictional scenario to illustrate how a real buyer might weigh these factors. Names, amounts, and outcomes are illustrative only.
Priya is 31, works as a software engineer at a Bengaluru tech firm, and earns ₹18 lakh per year. She is a non-smoker and wants ₹2 crore in term cover. When she compares online, she notices that HDFC Life’s Click 2 Protect Supreme Plus shows her a meaningfully lower quote than equivalent plans from other insurers — because the 15% women’s lifetime discount is built directly into the premium calculation, not offered as a limited-period promotional price.
She also considers the increasing cover option. Her income is likely to grow over the next decade, and the option to have her sum assured increase over time — without a fresh medical examination — appeals to her. She purchases the Click 2 Protect Supreme Plus with the Life Plus option and an increasing cover rider, with a 30-year policy term. Her reasoning: the claim settlement record (99.68% in FY25) is consistent, the insurer is backed by HDFC Bank, and the women’s pricing advantage is structural.
This scenario is not a recommendation. Priya’s outcome depends on her full financial picture and the actual terms at the time of purchase.
Next Steps if You Are Evaluating HDFC Life
- Visit hdfclife.com/term-insurance-plans and run a quote under your actual age, health profile, and desired cover amount across at least two plan options.
- If you are female or salaried, confirm the applicable discount before comparing quotes from other insurers — the effective premium may be lower than it first appears.
- If you are above 45, check which plans you are eligible for — Elite Plus and Ultimate have age caps.
- Read the product brochure (available as a PDF on the product page) and match the UIN to the plan you are buying — not just the product name.
- Consult the how to buy term insurance guide before finalising your application.
Frequently Asked Questions
What is HDFC Life’s claim settlement ratio for FY 2024-25?
99.68%, based on individual death claims. HDFC Life settled ₹2,060 crore in death claims across 19,666 policies in FY 2024-25. The industry average CSR for the same year was 98.45%.
Which HDFC Life term plan is best for online purchase?
Click 2 Protect Supreme Plus (UIN: 101N189V01) is the current flagship plan. It offers the broadest entry age range (18–84 for Life/Life Plus options), the women’s discount, and the increasing cover option. Compare it against Click 2 Protect Supreme if you want to check the difference in premiums and features.
Does HDFC Life give a discount to women buyers?
Yes. A 15% lifetime premium discount applies to women on Click 2 Protect Supreme and Supreme Plus. This is built into the pricing, not a promotional offer, and applies for the entire duration of the policy.
What is the maximum sum assured available under HDFC Life term plans?
There is no publicly stated upper cap on Click 2 Protect Supreme Plus or Supreme. Click 2 Protect Ultimate is capped at ₹3 crore. For very large cover amounts, premium and medical underwriting requirements will apply at higher SA levels.
Is HDFC Life financially stable?
Its solvency ratio was 194% as of March 31, 2025, against the IRDAI minimum requirement of 150%. The company is listed on BSE and NSE and is majority-owned by HDFC Bank (~50.3%). It has consistently paid dividends and maintained a stable financial track record since listing.
Can I buy HDFC Life term insurance through HDFC Bank?
Yes. HDFC Life policies are available through HDFC Bank branches, the HDFC Bank net banking portal, HDFC Bank relationship managers, and directly at hdfclife.com.
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Reviewed and Edited by
Gyansurance Editorial
The Gyansurance Editorial team is a mix of financial journalists, insurance advisors and copy editors. Together, we are aiming to demystify life insurance for Indian readers around the world.