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Home > Insurance Services

Insurance Services

DHFL Insurance Services

To secure and protect your family and near ones against unwarranted incidents, life insurance is a must. Life insurance ensures that your family will receive financial support in your absence. In simple words, life insurance provides your family with a sum of money should something happen to you.

Life insurance also acts as a flexible money-saving scheme, which empowers you to accumulate wealth-to buy a new car, get your children married and even retire comfortably. Life insurance also triples up as an ideal tax-saving scheme.

Modern day investments include gold, property, fixed income instruments, mutual funds and of course, life insurance. Given the plethora of choices, it becomes imperative to make the right choice when investing your hard-earned money. Life insurance is a unique investment that helps you saving for life’s important goals and protecting your assets.

Features & Benefits of DHFL Insurance Services

  1. Asset Protection
    From an investor’s point of view, an investment can play two roles – asset appreciation or asset protection. While most financial instruments have the underlying benefit of asset appreciation, life insurance is unique in that it gives the customer the reassurance of asset protection, along with a strong element of asset appreciation.The core benefit of life insurance is that the financial interests of one’s family remain protected from circumstances such as loss of income due to critical illness or death of the policyholder. Simultaneously, insurance products also have a strong inbuilt wealth creation proposition. The customer therefore benefits on two counts and life insurance occupies a unique space in the landscape of investment options available to a customer.At DHFL, we are very concerned about the well-being of you and your family members. We suggest that you opt for a Mortgage Reducing Term Assurance (MRTA) product which will provide coverage during the loan tenor and will ensure financial security for your family.
  2. Goal based savings
    Each of us has some goals in life for which we need to save. For a young, newly married couple, it could be buying a house. Once, they decide to start a family, the goal changes to planning for the education or marriage of their children. As one grows older, planning for one’s retirement will begin to take precedence.
    Clearly, as your life stage and therefore your financial goals change, the instrument in which you invest should offer corresponding benefits pertinent to the new life stage.
  3. Life insurance is the only investment option that offers specific products tailor-made for different life stages. It thus ensures that the benefits offered to the customer reflect the needs of the customer at that particular life stage, and hence ensures that the financial goals of that life stage are met.

The table below gives a general guide to the plans that are appropriate for different life stages.

Life Stage Primary Need Life Insurance Product
Young & Single Asset creation Wealth creation plans
Young & Just married Asset creation & protection Wealth creation and mortgage protection plans
Married with kids Children’s education, Asset creation and protection Education insurance, mortgage protection & wealth creation plans
Middle aged with grown up kids Planning for retirement & asset protection Retirement solutions & mortgage protection
Across all life-stages Health plans Health Insurance

FAQs – Insurance Services

Life Insurance

1. What is life insurance?
Life Insurance is an agreement that guarantees payment of a stated amount of monetary benefits at the end of a specified term or on the death of the life insured.
2. Why do I need life insurance?
Life Insurance provides for financial security in the event of death or on the inability to earn due to physical disabilities. Besides providing for financial security in the case of one’s untimely death, it can be used to accumulate a kitty for your old age, systematically build assets, for funding your child’s education and also for saving on taxes.
3. I know I need life insurance, but cannot afford the coverage I need. Can I do anything to lower the cost?
The cost of life insurance depends on three factors: your age, health and your income. We suggest that you not compromise on the level of protection you require. You could purchase a basic protection policy that gives you the opportunity to pay only the minimum premium. You can choose this affordable policy, without any riders.


1. What is nomination? And who is a nominee?
Nomination is a right conferred on the life insurance policyholder to appoint a person or persons to receive the policy monies in the event of the policy becoming a claim by death. Any policyholder, who is a major and the life insured under a policy, can make a nomination.
A nominee is the person designated by the policyholder to receive the proceeds of an insurance policy, upon the death of the insured.

2. Can I change my nomination?
Yes. You can change your nomination at any time till the maturity date. All you need to do is to inform us about the change through the specified form.

3. What details am I to provide about the nominee/s?
The following details are necessary when filling in the proposal form: full name of the nominee, address, age, and the relationship between you and the nominee.

4. What is the difference between nomination and assignment?
While nomination is an authorization to receive the policy monies in the event of death of the life assured, it does not give the nominee an absolute right over the money received to the exclusion of other legal heirs. Further, the nomination can be revoked or cancelled at any time during the lifetime of the policyholder at his will and pleasure or by a subsequent assignment.
On the other hand, assignment of an insurance policy is a transfer or assignment of all rights and liabilities of the insurance policy in favour of the assignee.


1. What is a Claim?
A claim is the payment made by the insurer to the insured or claimant on the occurrence of the event specified in the contract, in return for the premiums paid for the insured.

2. What parameters are considered by the company while asking the claimant to submit particular records / document?
The Company considers the Sum at risk, cause, circumstances of claim and duration of the policy while asking for certain requirements. Eg. For accidental death, specific proofs such as Post Mortem and Police Report are required whereas for death due to illness, the Company calls for records from hospital, test reports, etc

3. Once all the requirements are submitted, how much time does the Company take to settle the Claim?
The Company settles the Claim within 8 working days after all the records, documents and necessary forms are submitted and documentation is completed.
In case, the Claim warrants further verification, the Company keeps the Claimant informed of the same. Subsequently, when the decision is taken, it is communicated to the Claimant by a letter. From November 2005, we have started sending SMS Alerts to the advisor of the policy to enable the quick communication of the decision of the claimants.

4. What is IRDA?
IRDA is Insurance Regulatory Development Authority, that has been set up to protect the interests of the policy holders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto. [This definition has been taken from the IRDA website]

5. What are IRDA guidelines pertaining to Claim processing?
As per IRDA (Insurance Regulatory Development Authority), the Insurance Company is required to settle a claim within 30 days of receipt of all requirements.
However, if the claim warrants further verification, the Company should complete its procedures within 6 months from receipt of written intimation of the claim. If the Company settles the claim beyond 6 months period, the interest is payable by the Company on the claim amount. The interest is payable only where the Claimant has submitted all the requirements. Further, rate and period of interest are decided as per IRDA guidelines.

 6. Who is entitled to receive the Claim benefit?

  • The nominee or appointee (in case of minor nominee) last recorded under the Policy in case of Policy on own life.
  • The proposer in case the Policy is not on own life.
  • Assignee in case the Policy was assigned.
  • Life Assured himself in case of policy on own life for living benefit claims (Eg Critical Illness rider)

7. How do I make a Maturity Claim?

You must send the:

  • Completed Claim form
  • Policy of life assurance
  • Proof of age, if not submitted earlier

Policy Servicing

1. What is the difference between switch and redirection?
A switch will enable you to shift the existing units of your unit-linked policy into a new fund and will not change your future premium allocation.
A premium redirection will enable you to change your allocation for all the future premiums of your policy. However, your existing units will not be shifted into a new fund.

2. In case I lose my policy document how do I obtain a duplicate policy?
You will need to pay the charges towards the issue of a duplicate policy, which will also include the charges for stamp fee. We will send a ‘Duplicate Policy Request’ form that you will need to fill and send.

3. How will the Net Asset Value (NAV) be calculated for my servicing requests?
The Net Asset Value (NAV) is applicable at the time of valuation/purchase. It is calculated as the value on the day you make a transaction request (provided it is a working day).

4. How do I notify a change in address? OR How can I change my policy details?
You have the following options:
1.  Download the ‘Change Request’ form, fill and send it.

5. How do I effect a Top- up/Fund Switch/Premium Redirection?
1. Download the appropriate form, fill in and send it.

6. Can I change the frequency of payment for my policy?
Yes, you can change the premium frequency from low (annual) to a higher frequency (bi-annual or monthly) or vice-versa.

7. What do I need to do when the life assured becomes a major?
When the life assured becomes a major, you need to submit the proof of his/her age with his/her correct date of birth. You also need to write a covering letter.

8. Can I change the date of birth after the free look period? If yes, what are the documents required?
Yes, you can change the date of birth after the free look period. All you need to do is submit the proof of age with the correct date of birth, along with a covering letter.

9. When does a policy lapse?
A policy lapses when the policy holder fails to pay the premium even within the grace period. In this case, the policy loses all its benefits.

Surrender/Partial withdrawal/Assignment

1. Can I surrender my policy?
After you pay premiums for at least three consecutive years, your policy acquires a surrender value and you can surrender the policy. If you have a single premium policy, you can surrender your policy after the first year.

2. What do I need to do to surrender my policy?
You need to submit the Payout Request Form. Alternatively, you can contact us at any of our contact points.

3. What is partial withdrawal?
Partial withdrawal of a policy implies withdrawal of only a part of the funds of your policy. The applicable norms for partial withdrawal may differ for every product. For product-specific details on the same, please refer to the respective product brochures that are available in the Products section of our website.

4. What are Top-ups?
Top-ups are one-time payments. You have the flexibility to make an additional investment through a top-up, which is over and above your regular premium payments. You can make a top-up at any time while your policy is in force. The applicable norms for top-ups may differ for every product. For product-specific details on the same, please refer to the product brochures available in the Products section of the website.

5. What is ‘transfer’ or ‘assignment’ of a life insurance policy?
Transfer or assignment is a method of transferring one’s transferable interest in a life insurance policy to another person or institution, for example, as a security for repayment of loans.

6. Can I assign a policy?
Yes, you can assign a policy. To assign the policy, you have to notify us regarding the assignment.

7. How do I assign a policy or transfer a life insurance policy?
Assignment or transfer of a life insurance policy may be made by simply making an endorsement to that effect in the policy document. Another way of transferring or assigning the life insurance policy is to get a separate assignment deed executed.
The former case is the preferred mode of assignment as it is exempt from further stamp duty. An assignment should be signed by the assignor or his duly authorized agent, and should specifically state the fact of transfer or assignment. The document should be attested by at least one witness.

8. Is assignment allowed on all the insurance plans?
Assignment is applicable on all insurance plans except Pension Policies and Married Women’s Property Act (MWP).

Term Insurance

1. What is Term Insurance

Term insurance is the simplest and most fundamental insurance product. Term insurance plans are designed to ensure that in the event of the policyholder’s death, the family gets the sum assured (the cover amount).

2. What is term life insurance?

Term life insurance ensures that your family receives a large lumpsum amount, called the sum assured, in the unfortunate event of death of the policyholder. By offering this benefit at extremely competitive rates, Term insurance plans provide an opportunity to get the protection of insurance cover at extremely affordable prices.

3. Why do I need term life insurance? Why should I start planning my life cover needs now?Why should I start planning my life cover needs now?

  • One should have adequate cover for dependents. It’s better to be prepared and ensure that the financial needs of your loved ones are taken care of, in the unfortunate event of death.
  • With age, the premiums tend to increase and therefore buying term insurance becomes more expensive.
  • Apart from the benefit of protection for your dependents, also enjoy tax benefits as per prevalent tax laws.

Wealth Plans

1. Why wealth plans?
As an individual who doesn’t desire the best from life? You would undoubtedly want to plan your finances such that you can achieve all your goals – a car, a beautiful home and of course, the comfort and contentment of your family. All of these goals are long term in nature. Wealth insurance plans have been designed to ensure that you can save for these long term goals along with the benefit of life cover and provide protection to your family

2. What is wealth insurance?
Wealth insurance ensures that you receive a lumpsum amount of money at the maturity of the Policy. In the unfortunate event of death during the term of the policy, your family receives lumpsum amount, called the Sum Assured. Thus it combines the benefits of protection and saving in a single instrument.

3. Why do I need wealth insurance?

  • Regular savings: Insurance inculcates the habit of regular and disciplined savings, which is the key to successful long term financial planning. Pay your premiums regularly and enjoy the uninterrupted benefits of wealth insurance.
  • Protection: Wealth insurance provides the protective benefit of a life cover, which keeps your family secure, always.
  • Tax benefits: Apart from protection and savings, wealth insurance plans also offer tax benefits as per prevailing tax laws


1. Why child plans?
As a parent, you would not like to compromise your child’s bright career, regardless of the rising cost of education. All you need is a savings plan that is designed to provide money at key educational milestones and take care of your loved ones future even if you are not around. Education insurance offers you unique features which ensure that this objective is achieved and it helps in strengthening your child’s dreams.

2. What are education solutions?
Education solutions ensure comprehensive financial planning for your child’s education/ developmental needs. In this you pay premium regularly or in a single lump sum and during the key educational milestones of your child you can withdraw the money partially. It offers financial protection to your child’s future in the unfortunate event of your death.

3. Why do I need education insurance?

  • Increasing costs of education: The cost of education is increasing at a rapid pace across all levels. In order to ensure that you can pay for your children’s educations you need to start saving at the earliest.
  • Multiple interests of children: In order to ensure that your child is an all-rounder you need to train him in different areas like sports, dancing, singing etc. All these extra-curricular activities cost huge money and hence add to the overall cost of education.
  • Tax benefits: Apart from protection and savings, wealth insurance plans also offer tax benefits as per prevailing tax laws.
  • Protection: In the unfortunate event of death of the parent (Life Assured) during the term of the Policy, the following benefits are payable:
  • Sum Assured would be paid to the beneficiary.
  • Future premiums would be paid by the Company till the maturity of the Policy
  • Policy benefits would continue for your child’s educational and developmental needs, as planned by you
  • If an optional rider has been chosen, an additional fixed amount shall be paid to the child every year till the maturity of the Policy

These features are available with minor variations across almost all educational insurance policies.

4.When should I start investing for my child’s educational needs?
What is the better time to start investing in an educational plan than the day your child is born? This will ensure that at the time of higher education of your child, an adequate financial corpus is built. Or, you can even use the maturity amount to gift the apple of your eye a wedding to cherish for a lifetime or seed capital to fuel his business ambitions. So, start as early as you can to enjoy the benefits of long term planning.

Retirement Plans

1. Why retirement plans?
Our pension plans are designed to ensure that your retirement years truly become your golden years. They will provide you the financial security to pursue your unfulfilled dreams.

2. What is retirement insurance?
Retirement insurance ensures that you or your family members receive a regular pension amount post a retirement date. You have the flexibility to choose the retirement date and the manner in which you receive the pension.

3.  Why do I need retirement insurance?

  • Longer retirement years: Average life spans are increasing in India and hence, the retirement years are likely to be longer. With the rise in inflation you will need more money to live in comfort.
  • Financial independence post retirement: Earlier, people could depend on their children to take care of them post retirement. However, as a modern individual, would you not like to maintain your financial independence post retirement also?
  • Inflation: Inflation is an important factor. Post retirement, you need a regular income to ensure that your expenses can be met.

4. Why should I start planning for my retirement now?

  • The earlier you start planning for retirement, the larger will be the corpus for you at the time of your retirement. Neglecting your retirement needs can prove to be costly later in your life.
  • With age, your expense will tend to increase and therefore retirement planning becomes more difficult.
  • Apart from the benefit of a comfortable retirement, also enjoy tax benefits as per prevailing tax laws. Designed to ensure that you and your family get the medical treatment whenever you need it. Secure your family now with our health plans.

Health Insurance

1. What is health insurance?
Health insurance insures you and your family against expenses arising due to a medical emergency and uncertainty of health such as a hospitalization or the onset of a critical illness. It prevents a medical emergency from becoming a financial one; it ensures your health care needs are taken care of without you having to dip into your existing savings or compromising your future goals.

2. Why do I need health insurance?

  • Medical emergencies can strike unexpectedly: 30% of the population suffers from heart attacks before the age of 40 years. Rare non-communicable diseases are now becoming common, affecting an increasing number of urban Indians.
  • Lifestyles have changed: Indians today suffer from high levels of stress. Long hours at work, little exercise, unhealthy diet food have weakened our immune systems and put us at an increased risk of contracting illnesses
  • Quality health care is unbelievably expensive: Single episode of a critical illness like an angioplasty can cause a huge dent (around `3 lacs) in your lifetime savings and with rising medical costs, it can get worse.
  • Indirect costs add to the financial burden: Indirect sources of expense—travel, boarding and lodging, and even temporary loss of income account for as much as 35% of the overall cost of treatment.
    Source: CII report
  • Incomplete financial planning: Complete financial planning includes saving for an uncertain future, children’s education, retirement and the most important aspect of your life – your health.

3. Are there different health insurance needs?

There are different kinds of health insurance plans available to suit your individual needs:

  • Hospitalization insurance: Cover yourself for hospitalization expenses incurred. You have a further choice between a reimbursement plan (claim your expenses as actually incurred) and a fixed benefit plan. (Claim as per pre-decided limits defined by the plan you select)
  • Critical illness insurance: Cover yourself against critical illnesses which are life changing catastrophes, expenses for which are big in nature.

4. Why should I start planning for my health now?

  • You will be able to deal with medical emergency finances without falling back on your savings. Thus your medical policy protects your finances.
  • You can choose appropriate healthcare plan as required without acute financial anxiety and so can focus on the recuperation process.
  • You would be a better provider (supporter) to your family in times of health emergency as they will receive adequate medical attention.
  • Waiting until you are older is not a recommended approach, as it gets more difficult to obtain a health cover with age. Also, if you have a prevailing disease/critical illness (like diabetes); it is likely to be exempted from the health cover under the pre-existing condition.
  • As already shared, a health crisis could unexpectedly occur and if you are not covered during the time of emergency it will drain your savings.
  • You can enjoy tax benefit up to ` 15000 u/s 80D of the Income Tax Act, 1961.

5. How do I plan for my health insurance?

Sound health cover planning ensures you have access to sufficient funds to meet direct medical expenses of the treatment, indirect expenses at the time of treatment and loss of income, if any, due to the illness.
Select a health plan by taking into consideration factors such as your income, age, number of dependants, quality of care desired, current coverage etc.

To know more, you can mail to or Call toll free – 1800 22 3435 or SMS DHFL to 56677





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