VR Logo

HDFC Home Loan Protection


This term insurance policy aims to settle outstanding home loan in the unfortunate event of death of the borrower.

What does it do?

This policy covers home loan liability. Insurer will pay the outstanding loan amount, if the policyholder dies. The policy reduces the sum assured with decline in home loan liability. The premium can be paid either as a single installment or added in loan amount and paid as repayment of home loan.


Declining sum assured prevents policyholder from paying high premiums against a cover that will not be required, when the loan is repaid.
It offers two types of premium payment modes. If the insured person cannot pay the premiums in a single go, he can add it to his loan amount.

Suited for

Those with a loan liability or looking to take a loan can go for this policy.

Our View

As the name suggests, this plan is suitable for those who have a home loan liability to repay. Home loan plan is beneficial as it allows family members to have their own house without fear of paying outstanding loan if something unfortunate happens to the insured person. Check if the interest rates offered by the policy matches with rate of interest on your loan to get an adequate coverage. Buy a policy that falls in your budget.

Entry Age (years) 
Maximum Maturity Age (years)60
Sum Assured (Rs) 
Minimum Premium (Rs) 
Premium Payment FrequencySingle
Premium Payment TermSingle or added to the home loan tenure
Policy CoverCover matches the home loan and it decreases by the amount the loan is repaid.
Other Features 
Tax BenefitsSection 80C, 10 (10D) of the Income Tax Act, 1961 would apply.
ExclusionsIn case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable. Further, if the Life Assured under the policy, whether medically sane or insane, commits suicide, within one year of exercising the option to increase the Sum Assured, then the amount of increased Sum Assured will not be considered in the calculation of the Death Benefit
Customer Service 
AddressHDFC Standard Life Insurance COmpany Limited, 13th Floor, Lodha Excelus, Apollo Mills Compound, N M Joshi Road, Mahalaxmi, Mumbai - 400011
Mail To[email protected]
Call On1800 227 227
SMS[email protected]
Indicative Premiums for a Sum Assured of Rs 3 lakh
Age (in years)Policy term ( iny ears)Single Premium (in Rs)Annual Cost (in Rs)
Premiums are exclusive of service tax and cess.