Contact Us
For NRI Customers
(To Buy a Policy)
(If you're our existing customer)
For Online Policy Purchase
(New and Ongoing Applications)
Branch Locator
For Existing Customers
(Issued Policy)
Fund Performance Check
Login
Customers
Employees
Partner
Term Life Insurance Maturity
Term insurance plans are known for offering high sum assured amounts at pocket-friendly premiums. When people start earning, they choose term policies as they are one of the most attractive and affordable insurance plans available in the market. Unfortunately, term policies do not offer additional maturity benefits. These policies come with an expiry or maturity date. If the policyholder outlives the tenure, they do not receive a large payout or bonus. If you have a term plan, do not despair.
Let’s look at what you could do if your term insurance policy is about to mature:
1 Crore Term Insurance @Rs.19/day***
To delay is to regret
You may not always be around to take care of your family. And that’s when a term plan ensures your family is well protected.
-
Return of Premium (ROP) Option^
-
17% Online Discount**
-
Same Day Claim Processing#
-
100% Claims guaranteed15
-
0% GST on Premiums#^#
Please wait while we are calculating term insurance premium for 1 crore
:1800-266-9777
Renew the Policy
Table of Content
You may have bought a 30-year term plan when you were in your early 20s to help your parents pay off some outstanding debt. Over time, you got married and started a family of your own. You now have even more financial responsibilities than before and would like to keep your policy going for longer. You can opt to renew the policy and extend the period. If you choose this, you will likely have to pay a higher premium since you are older and perhaps not in the same health condition as when you bought the initial plan.
Opt for Return of Premiums
To make these policies more beneficial for policyholders, insurance companies now offer term plans with maturity benefits. The maturity benefit generally refers to the return of all premiums paid by the insured. Some insurance companies may also provide a nominal bonus amount, which could be the interest accrued over the years, while others will deduct a processing fee before returning the premium amount. By choosing a term plan with maturity benefits, you ensure that your premiums are not ‘wasted’ in case you outlive the policy.
Convert the Policy
Your third and final option is to convert your term plan into a whole life insurance policy. Plan conversions are slightly complicated as compared to the other two options. Most insurance companies have limitations on which policies can get converted and which can’t. They may require you to undergo a medical exam or back-pay the premium difference to become eligible for whole life cover.
When individuals purchase a term policy, they should always opt for term plans with maturity benefits. Although the return of premium option cannot be used as a financial tool to build a corpus for the future, it does safeguard your finances. The premium amounts you pay over the policy tenure could amount to a decent sum. Even an individual who pays INR 6,000 per year for 30 years will get a return of premium amount upwards of INR 1,50,000. The amount can then be reinvested to help them in their golden years.
The main idea of a term plan is to provide life coverage when the policyholder needs it most. The policy offers financial security to their family members in case anything happens to them. If the policyholder survives the tenure, they can choose to renew their policy, convert it, or simply receive the maturity amount to enhance their finances.
Related Articles
Francis Rodrigues
Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.
Written By:
Here's all you should know about life insurance.
We help you to make informed insurance decisions for a life time.
HDFC Life
Reviewed by Life Insurance Experts
HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER
We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.
Popular Searches
- Term Insurance Calculator
- Investment Plans
- Investment Calculator
- Investment for Beginners
- Best Short Term Investments
- Best Long Term Investments
- 5 year Investment Plan
- savings plan
- ulip plan
- retirement plans
- health plans
- child insurance plans
- group insurance plans
- income tax calculator
- bmi calculator
- compound interest calculator
- income tax slab
- Income Tax Return
- what is term insurance
- Ulip vs SIP
- tax planning for salaried employees
- HRA Calculator
- Annuity From NPS
- Retirement Calculator
- Pension Calculator
- nps vs ppf
- short term investment plans
- safest investment options
- one time investment plans
- types of investments
- best investment options
- best investment options in India
- Term Insurance for Housewife
- Money Back Policy
- 1 Crore Term Insurance
- life Insurance policy
- NPS Calculator
- Savings Calculator
- life Insurance
- Gratuity Calculator
- Zero Cost Term Insurance
- critical illness insurance
- itc claim
- deductions under 80C
- section 80d
- Whole Life Insurance
- benefits of term insurance
- types of life insurance
- types of term insurance
- Benefits of Life Insurance
- Endowment Policy
- Term Insurance for NRI
- Term Insurance for Women
- Term Insurance for Self Employed
- Benefits of Health Insurance
- Health Insurance for Senior Citizens
- Health Insurance for NRI
- Best Term Insurance Plan for 1 Crore
- personal accident insurance
- Annuity Calculator
- Life Insurance Calculator
- Term Insurance Comparison
- Digital Life Insurance
- Child Education Planner
- GST on Term Insurance
- term plan
@As per integrated annual report FY24-25, available on www.hdfclife.com. As of May 2025
#Provided we have received all the relevant and required documents and no further investigation is required. Claim settlement process would be completed within stipulated timelines once the claim request is approved
^ Available under Life & Life Plus plan options
***Online Premium for Life Option for HDFC Life Click 2 Protect Supreme(UIN:101N183V01), Male Life Assured, Non-Smoker, salaried, 20 years of age, Policy term of 25 years, Regular pay, Monthly frequency, inclusive of 15% online discount (applicable only for 1st year premium) & exclusive of taxes and levies as applicable. (Monthly Premium of 573/30=19).
**If a customer is a Salaried individual and has opted for a cover of INR 2 Cr with Limited pay, then the total discounts applicable shall be: 10% +7% = 17% discount on the first year premiums.
~Tax benefits of ₹ 54,600 (₹ 46,800 u/s 80C & ₹ 7,800 u/s 80D) is calculated at highest tax slab rate of 30% on life insurance premium u/s 80C of ₹ 1,50,000 and health premium (Critical illness rider) u/s 80D of ₹ 25,000. Tax benefits are subject to conditions under section 80C, 80D, 10(10D) as per Income Tax Act, 1961. Please consult your tax advisor for more information.
*Online Premium for Life Option, Male Life Assured, Non-Smoker, 20 years of age, Policy term of 25 years, Regular pay, Monthly frequency, exclusive of taxes and levies as applicable.
#^# Individual Life Insurance Policies issued on or subsequent to 22nd, September 2025, shall be exempt from GST under the provisions of the Goods and Services Tax, 2017.
15. HDFC Life Click 2 Protect Ultimate(UIN: 101N179V01) A Non-Linked, Non-Participating, Individual, Pure Risk Premium/Savings Life Insurance Plan. The policy must be in force on the date of death, with all premiums fully paid, except for the exclusion clauses mentioned in Part F of the policy document.
ARN - ED/06/22/29566
