HDFC Life


HDFC Life Limited is a long-term life insurance provider with its headquarters in Mumbai, offering individual and group insurance services.
The company is a joint venture between Housing Development Finance Corporation Ltd, one of India's leading housing finance institutions and Standard Life Aberdeen plc, a global investment company. As on 31 March 2020, the promoters; HDFC Ltd. and Standard Life 2006 Ltd. hold a 51.4% and 12.3% stake in HDFC Life respectively. The remaining equity is held by public shareholders.

Presence & Distribution

HDFC Life has 421 branches and is present in 980+ cities and towns in India. The company has also established a liaison office in Dubai.
HDFC Life distributes its products through a multi channel network consisting of Insurance agents, Bancassurance partners, a Direct channel, Insurance Brokers and an Online Insurance Platform.

Products & Services

HDFC Life's products include Protection, Pension, Savings, Investment, Health along with Children and Women plans. The company also provides an option of customizing the plans, by adding optional benefits called riders, at an additional price. The company currently has 37 retail and 11 group products, along with 6 optional rider benefits.
The MD & CEO of the company is Vibha Padalkar, Executive Director is Suresh Badami, Chief Financial Officer is Niraj Shah, Chief Operating Officer is Parvez Mulla, Chief Actuary & Appointed Actuary is Srinivasan Parthasarathy, Chief Investment Officer is Prasun Gajri, Bancassurance Alliances head and Chief Marketing Officer is Pankaj Gupta & Vibhash Naik heads the human resources as Head HR, Admin and L&D.

Corporate History

The Insurance Regulatory and Development Authority was constituted in 1999 as an autonomous body to regulate and develop the insurance industry. The IRDA opened up the market in August 2000 with the invitation for application for registrations. HDFC Life was established in 2000 becoming the first private sector life insurance company in India.
By 2001, the company had its 100th customer, strengthened its employee force to 100 and had settled its first claim. HDFC Life launched its first TV advertising campaign 'Sar Utha Ke Jiyo' in 2005.
In 2006, a study conducted by the Brand EquityEconomic Times had put HDFC Life at 29th rank in the most trusted Indian Brands amongst the Top 50 Service Brands of 2010.
The Insurance Regulatory and Development Authority gave accreditation to HDFC Life for 149 training centres housed in its branches to cater to the mandatory training required to be given as well as for other sales training requirements in 2009.
In 2012, it the first private life insurance company to bring back pension plans under the new regulatory regime, with the launch of two pension plans - HDFC Life Pension Super Plus and HDFC Life Single Premium Pension Super.

Associated Companies

HDFC Life's associated companies include HDFC Ltd, HDFC Bank, HDFC International Life and Re Company Limited, HDFC Pension, HDFC MF, HDFC Sales, HDFC Ergo, HDB Financial Services, HDFC Securities, HDFC RED, HDFC Ventures Trustee Company, GRUH Finance, HDFC Trustee Company, HDFC Developers, HDFC Property Ventures, HDFC Investments, Credit Information Bureau Ltd