HDFC Life vs ICICI Prudential Life Insurance: Comparison of Each Plans


Difference Between HDFC Life Insurance and ICICI Prudential Life Insurance

The 2 most sought-after term life insurance firms in India are HDFC Life Insurance and ICICI Prudential Life Insurance. What makes these two firms different from one another are their features, policies, services, and costs. So, allow us to take a have a look at how they differ from one another.

HDFC Life Insurance

HDFC Life Insurance Company is a privately-owned insurance company, which can also be the most important private life insurance provider within the country. It’s a three way partnership between Standard Life Aberdeen and HDFC Ltd.

Salient features of HDFC Life Insurance

  • It’s one in every of the most important life insurance firms in India, although privately owned.
  • The range of life insurance products offered by HDFC Life is designed to satisfy the necessities of people in addition to families.
  • The shopper experience offered by HDFC Life Insurance is well-appreciated by all.

Advantages of HDFC Life Insurance

There are several benefits of HDFC Life Insurance and of which individuals go for this insurance company. Listed here are a few of them mentioned below:

  • Reasonably priced: HDFC Life Insurance comes with a big selection of insurance products that suit the needs of the people and are well inside the budget.
  • Customer support: They provide one-of-a-kind customer support, which is on the market 24X7, and 12 months a 12 months.
  • Hassle-free claim settlement: HDFC Life Insurance offers state-of-the-art technology in order that the claims are processed quickly and the policies are freed from hidden charges and clauses.
  • Life cover till 99 years: Financial protection is provided to your loved ones even when you find yourself not there anymore. The life cover is provided for as much as 99 years and the premiums are reasonably priced.

Varieties of HDFC Life Insurance Plans:

The HDFC Life is split into various types. Listed here are a few of them mentioned below:

Savings Plans:

  • HDFC Life Sanchay Plus
  • HDFC Life Sanchay
  • HDFC Life Sanchay Par Advantage
  • HDFC Life Super Income Plan
  • HDFC Life ClassicAssure Plus
  • HDFC Life Pragati Plans
  • HDFC Life Sampoorn Samridhi Plus
  • HDFC Life Uday Plans

Guaranteed Income Plans:

  • HDFC Life Click 2 Retire
  • HDFC Life Click 2 Wealth
  • HDFC Life Youngstar Udaan

ULIP Plans:

  • HDFC Life Smart Woman Plan
  • HDFC Life Click 2 Wealth
  • HDFC SL Crest
  • HDFC Life Pragati Plans
  • HDFC Life Click2Invest ULIP
  • HDFC Life ProGrowth Plus
  • HDFC SL ProGrowth Super II
  • HDFC SL ProGrowth Flexi
  • HDFC Life Capital Shield
  • HDFC Life Sampoorna Nivesh
  • HDFC Life Classic One

Term Plans:

  • HDFC Life Click 2 Protect Life
  • HDFC Life Saral Jeevan Bima

Combo Plans:

  • HDFC Life Sanchay Maximiser

POS Plans:

  • HDFC Life Guaranteed Savings Plan

Pension Plans:

  • HDFC Life Latest Immediate Annuity Plan
  • HDFC Guaranteed Pension Plan
  • HDFC Life Click 2 Retire
  • HDFC Life Assured Pension Plan
  • HDFC Life Personal Pension Plus
  • HDFC Life Saral Pension

ICICI Prudential Life Insurance

ICICI Prudential Life Insurance Company Limited can also be a personal life insurance company, which can also be one in every of the oldest and most established life insurance firms within the country. ICICI Prudential Life Insurance is a three way partnership between Prudential Corporation Holdings Limited and ICICI Bank Limited. Under this company, you may get several options reminiscent of Unit Linked Insurance Plans, Health Insurance Plans, Term Insurance Plans, Retirement Plans, Traditional Savings or Money Back Plans, Riders, Group Plans, Rural Plans, and lots of more.

Salient features of ICICI Prudential Life Insurance

  • The corporate offers life insurance at essentially the most reasonably priced rates.
  • The shopper claims are settled inside 24 hours from the time of constructing the claim and the corporate tries its best to supply its customers with a hassle-free experience.
  • The coverage of life cover of provided till 99 years, even when you find yourself not around anymore.
  • The corporate covers around 35 critical illnesses. If a policyholder is diagnosed with a terminal illness, he/she gets a 100% coverage amount.

Advantages of ICICI Prudential Life Insurance

Listed here are a few of some great benefits of selecting ICICI Prudential Life Insurance mentioned below:

  • Reasonably priced premium rates: The premiums that you may have to pay for ICICI Prudential Life Insurance products are much cheaper than its competitors.
  • Different products: The corporate comes with a big selection of insurance products for its customers.
  • Customer support: ICICI Prudential Life Insurance offers excellent customer support. The shoppers can use the web chat choice to learn about their policy and even ICICI Prudential Life Insurance policy status.

Varieties of ICICI Prudential Life Insurance Plans

Listed here are a few of the forms of ICICI Prudential Life Insurance Plans:

ULIP Plans:

  • ICICI Prudential Signature Online Plan
  • ICICI Pru Guaranteed Wealth Protector Plan
  • ICICI Prudential Signature Plan
  • ICICI Pru1wealth Plan
  • ICICI Prudential life Time Classic Plan
  • ICICI Prudential Smart Kid Plan
  • ICICI Prudential Smart Life Plan
  • ICICI Prudential Smart Couple Plan

Retirement Plans:

  • ICICI Prudential Guaranteed pension Plan – Immediate Annuity Plan
  • ICICI Pru Easy Retirement Plan
  • ICICI Prudential Guaranteed pension Plan – Deferred Annuity
  • ICICI Prudential Saral Pension Plan
  • ICICI Prudential Easy Retirement SP Plan

Group Plans:

  • ICICI Prudential Group Suraksha Plan
  • ICICI Pru Group Term Plus Plan
  • ICICI Prudential Group Insurance Scheme for Pradhan Mantri Jeevan Jyoti Bima Yojana Plan
  • ICICI Prudential Group Loan Secure Plan
  • ICICI Prudential Shubh Raksha Credit Plan
  • ICICI Prudential Group Suraksha Plus Superannuation Plan
  • ICICI Prudential Super Protect – Credit Plan

Health Plans:

  • ICICI Prudential Heart/Cancer Protect Health Plan

Rider Plans:

  • ICICI Prudential Corona Protect plus Rider Plan
  • ICICI Prudential Corona Protect Rider Plan

Rural Plans:

  • ICICI Prudential Anmol Bachat Plan
  • ICICI Prudential Sarv Jana Suraksha Micro Insurance Plan

Term Plans:

  • ICICI Prudential SARAL JEEVAN BIMA Plan
  • ICICI Pru iProtect Smart Term Plan
  • ICICI Prudential PRECIOUS LIFE Plan
  • ICICI Prudential iCare II Plan
  • ICICI Prudential Life Raksha Plan
  • ICICI Prudential Loan Protect Plan
  • ICICI Prudential POS iProtect Smart Plan
  • ICICI Prudential POS Life Raksha Plan
  • ICICI Prudential Loan Protect Plus Plan

Savings Plans:

  • ICICI Prudential Assured Savings Insurance Plan
  • ICICI Prudential Guaranteed Income For Tomorrow Plan
  • ICICI Prudential Money Advantage Plan
  • ICICI Pru Savings Suraksha Plan
  • ICICI Pru Future Perfect Plan
  • ICICI Prudential LAKSHYA Lifelong Income Plan
  • ICICI Prudential LAKSHYA Plan

Comparison of HDFC Life Insurance and ICICI Prudential Life

Mentioned herein below are a few of the differences between these two insurance firms.

Claim Settlement Ratio: The Claim Settlement Ratio (CSR) of HDFC Life Insurance Company is 99.07% and the CSR of ICICI Prudential Life Insurance is 97.09 %.

Availability of branches: The numbers of branches of HDFC Life Insurance available within the country are 421, while ICICI Prudential Life Insurance has 947 branches.

Premium payment mode: The premium payment mode in HDFC Life Insurance is Yearly/Half-yearly/ Quarterly/ Monthly, and the identical is for ICICI Prudential Life Insurance.

Riders available: The riders available in HDFC Life Insurance are Accident Disability Rider, Critical Illness Plus Rider, and HDFC Life Protect Plus Rider. The riders offered by ICICI Prudential Life Insurance are Accidental Death Profit Rider, Critical Illness Rider, Terminal Illness Rider, and Wavier of Premium Rider.

E-services: The e-services offered by HDFC Life Insurance are downloading, buying policy, renewal policy, claim settlement, and premium payments. The e-services offered by ICICI Prudential Life Insurance are updated information, buying policy, renewal, download options, premium payments, claim settlement, and switch funds.

Now that you recognize the difference between these two life insurance firms, you may take an informed decision on which one to go for. Each of the businesses are equally good; nonetheless, the selection must be completely yours.


Leave a Reply

Your email address will not be published. Required fields are marked *