HDFC Loan Cover term assurance plan is designed to provide protection to the family of the policyholder against the loan liabilities in case of a sudden demise. The nominee/s are provided a lump-sum amount in the event of death. The plan has the following features:

1. The policy seeker has the option of paying either regular or single premium.
2. The policy seeker can also avail an additional rider - accelerated sum assured benefit.
3. Maturity benefit is absent in the plan, that means, it is a pure risk cover term plan.
4. There's a decreasing sum assured.
5. Tax benefits can be availed under section 80c, 80d and 10 (10d) under income tax of india, 1961.