HDFC Standard Life Insurance, also known as HDFC Life, is one of the top private life insurers in India. It deals in both group and individual insurance products and solutions and is JV of Standard Life PLC and Housing Development Finance Corporation Limited (HDFC).
HDFC is among the top Indian companies when it comes to housing finance and Standard Life is a well known financial services company from the UK.
72.37 percent of the insurer's shares are owned by HDFC Ltd and Standard Life (Mauritius Holding) Ltd holds 26% of the shares. The remainder of the equity is owned by others.
Following are the associate companies of HDFC Life:
- HDFC Limited
- HDFC Bank
- HDFC Mutual Fund
- HDFC Sales
- HDFC ERGO General Insurance
- HDB Financial Services
- HDFC Securities
- HDFC Trustee Company Ltd.
- HDFC Investments Ltd.
- GRUH Finance Ltd.
- HDFC Holdings Ltd.
- HDFC Developers Ltd.
- Credit Information Bureau (India) Ltd
- HDFC Property Ventures Ltd.
- HDFC Securities
- HDFC Ventures Trustee Company Ltd.
- HDB Financial Services
Apart from HDFC Bank, the bancassurance partners of HDFC Life are Indian Bank and Saraswat Bank.
HDFC Standard Life Insurance Products
The products offered by HDFC Life can be categorized into term plans, savings and investment plans, children's plans, health plans, and women's plans. They may be further enumerated as below:
Term Plans
- HDFC Click 2 Protect
- HDFC Loan Cover Term Assurance Plan
- HDFC Term Assurance Plan
- HDFC Home Loan Protection Plan
- HDFC Premium Guarantee Plan
Children's Plans
- HDFC Children's Plan
- HDFC SL YoungStar Super Premium
- HDFC SL YoungStar Super II
Women's Plans
- HDFC Life Smart Woman Plan
Savings and Investment Plans
- HDFC Life Sampoorn Samridhi Insurance Plan
- HDFC SL New Money Back Plan
- HDFC Endowment Assurance Plan
- HDFC Single Premium Whole of Life Insurance Plan
- HDFC SL Crest
- HDFC Assurance Plan
- HDFC SL ProGrowth Super II
- HDFC Savings Assurance Plan
- HDFC SL ProGrowth Flexi
- Endowment Gain Insurance Plan
- HDFC Life ProGrowth Plus
- ClassicAssure Insurance Plan
- HDFC SL ProGrowth Maximiser
- HDFC Immediate Annuity
- HDFC Life Invest Wise Plan
Health Plans
- HDFC SurgiCare Plan
- HDFC Critical Care Plan
Group Plans
- Group Term Insurance Plan
- Group Leave Encashment Solution
- Group Variable Term Insurance Plan
- HDFC SL Group Savings Plan
- Group Gratuity Solutions
- HDFC SL Group Traditional Plan
HDFC Standard Life Insurance News
HDFC Life has on September 17 appointed Vibha Padalkar, its chief financial officer, as its executive director. She had joined the organization in 2008 as a chief financial officer and it is learnt that she will serve in that designation as well.
Amitabh Chaudhry, the Managing Director and Chief Executive, has informed the media that Padalkar has played a crucial role in helping the insurer achieve some important milestones including implementing SAP at all the offices and reporting as per IFRS.
According to Chaudhry, she has also been instrumental in setting up a risk management system for the entire organization. He also stated that Padalkar has led the insurer's attempts to make certain tax changes that can manage their cost ratios and make an impact on the industry on the whole.
Padalkar has previously worked for Pricewaterhouse Coopers, WNS Global Services, and Colgate-Palmolive.
HDFC Standard Life Insurance Office Network
HDFC Life has approximately 500 branches in different parts of India and operates in more 900 towns and cities across the country. It also has a liaison office at Dubai. It also has a commendable network of financial consultants who have helped it create a firm presence in the present fiscal markets.
HDFC Standard Life Insurance Contact Details
The contact details of HDFC Life may be enumerated as below:
HDFC Standard Life Insurance Company Limited
13th Floor, Lodha Execlus
Apollo Mills Compound,
NM Joshi Road, Mahalaxmi
Maharashtra,
Mumbai - 400011
