HDFC Term Assurance Plan:

This is an ideal plan for families or individuals who would like to provide maximum coverage to their family but with a minimum cost.  Most people would be salaried and would not be in a position to bear the costs after the death of the bread winner.  This insurance plan would solve the monetary difficulty that the family would face at that time.

The Term Assurance Plan is flexible
Yes, it can be paid either quarterly, half yearly or annually, in certain cases even as a one time payment.  It is useful if one takes a decision at the time of registering with regard to the premium terms.  Mostly premiums are paid on a quarterly or a half yearly basis by salaried individuals. But one should be aware that this plan does not cover suicide deaths in the first year of registering.  

It is illegal to commit suicide and hence this should be accepted in the right sense.  Life is meant to live and not to put an end to.  One should bear in mind that insurance policies are meant to insure a safe and healthy life, unless in the event of unforeseen unnatural deaths insurance helps the bereaved family to stay above the poverty status till they are able to sustain themselves independently.

The benefits are many
To begin with the list of benefits one needs to say first of all about the unique benefit of Accidental Death Benefit, Accelerated Sum Assured Benefit and Critical Illness benefit which can be availed of by paying an additional premium.

The other benefits include the sum assured is paid to the nominee on the death of the policy holder.  But if the term is complete and the policy holder is still alive, the nominee is not eligible to any payment.

It is really the best Term Assurance Plan that HDFC has brought out.  It would suit the requirements of many individuals who are facing difficulties in the family, or families who need monetary support after the death of the policy holder if the policy holder had been the sole bread winner of the family.