Introduction: HDFC Life Click 2 Protect Plan
As we move ahead in life, our lifestyle, our priorities and our life situations keep changing. HDFC Life Click 2 Protect Plan is a smart life insurance plan that has been designed in a way that would meet your changing life needs. Being a pure protection plan, the plan offers several benefits and advantages that too at a very pocket-friendly price. The different plan options that are available with HDFC Life Click 2 Protect Plan, make it a very flexible plan that can be customised as per your insurance needs.
HDFC Life Click 2 Protect Plan details:
HDFC Life Click 2 Protect Plan is a non-linked and non-participating savings life insurance plan. There are three plan options that are available:
- Life & CI Rebalance:
In this plan option, you choose a Basic Sum Assured which is further divided into the Life Cover Sum Assured and Critical Illnesses Sum Assured. After a policy year, the Critical Illness SA will increase on an annual basis and the Life Cover SA will decrease.
- Life Protect:
Under this plan option, the insured individual is covered for death. In case he/ she passes away during the policy term the nominee receives a lump sum death benefit.
- Income Plus:
With this plan option, you can get life coverage along with a regular income once you turn 60. The policy also offers a maturity benefit.
Key features of HDFC Life Click 2 Protect Plan Plan:
- HDFC Life Click 2 Protect Plan is a savings life insurance plan that offers comprehensive financial cover to your family
- There are 3 plan options that you can choose from:
- Life and CI Rebalance
- Life Protect
- Income Plus
- Under the Income Plus Option, you can get a steady cash flow on a regular basis
- On the diagnosis of a listed critical illness the future policy premiums would be waived off
- You have the option to get a whole life cover
- There are special deals and discounts for female applicants and for non-tobacco users
- The premium that you pay is tax-deductible under the Income Tax Act, 1961.
Benefits under HDFC Life Click 2 Protect Plan:
- Death Benefit:
The amount that is payable to the nominee in the case of death of the insured is called the Death Benefit. The nominee receives a lump sum amount that is higher than the Sum Assured on Death or 105% of the Total Premiums Paid.
In the case of Single Pay, the sum assured is highest of:
- 125% of the Single Premium
- Sum Assured on Maturity
- Basic Sum Assured
In case of Limited Pay and Regular Pay
- 10 times of the Annualized Premium
- Sum Assured at the time of maturity.
In case the insured individual outlives the term of the policy, he receives a maturity benefit. Under the HDFC Life Click 2 Protect Plan, the maturity benefit is payable as follows:
- Life & CI Rebalance and Life Protect Options:
The sum assured on maturity equals the Total Premium Paid provided the ROP benefit is selected, not otherwise.
- Income Plus:
Maturity benefit is payable for the Fixed Term. There is no maturity benefit for Whole Life.
Under the Income Plus option, an income equal to 0.1% of the Basic Sum Assured is paid at the end of every month, until the death of the insured or the end of the policy tenure. Critical Illness Benefit:
Under the Life & CI Rebalance, if the insured is diagnosed with any of the listed illnesses, the applicable Critical Illness Sum Assured is payable. All future premiums are then waived off.
Eligibility conditions in HDFC Life Click 2 Protect Plan:
Let us take a look at the eligibility criteria:
Minimum Entry Age
18 years/ 30 years/ 45 years (as per the plan selected)
Maximum Entry Age
50 years to 65 years (as per the plan selected)
Minimum Maturity Age
18 years/ 28 years (as per the plan selected)
10 years to Whole Life (as per the plan selected)
Minimum Basic Sum Assured
INR 50,000 for Life Protect and Income Plus
INR 20 lakhs for Life & CI Rebalance
Maximum Basic Sum Assured
No upper limit (Subject to BAUP)
Sample illustrations of premium amount & sum assured in HDFC Life Click 2 Protect Plan:
To help understand the HDFC Life Click 2 Protect Plan better, let us take a look at the following examples.
- Life & CI Rebalance:
Suppose Rajiv Nanda is a 44-year-old software engineer who buys the HDFC Life Click 2 Protect Plan Life & CI Rebalance Variant with these details:
Sum Assured: INR 1 crore
Policy Term: 20 years
Annual Premium: INR 68,295
In the 7th year of the policy, he gets diagnosed with a critical illness. His upcoming premiums will be waived off and he will receive a Critical Illness benefit of INR 20 lakhs. The Life Cover Sum Assured will now be INR 71 lakhs. In case Rajiv passes away in the 15th policy year, his wife, who is the nominee of the policy will receive the Death Benefit of INR 71 lakhs.
- Life Protect:
Suppose Saurabh Bansal is a 27-year-old college professor. He purchased the HDFC Life Click 2 Protect Plan Life Protect Variant with these details:
Sum Assured: INR 1 crore
Policy Term: 40 years
Annual Premium: INR 19,640
In the 3rd policy year, in an unfortunate accident Saurabh loses his life. His father is the nominee of the policy and will receive INR 1 crore as a lump sum death benefit. Total Premium Paid would be INR 58,920.
- Income Plus:
Suppose Shyamla Nair is a 38-year-old businessman who buys the Whole Life coverage under HDFC Life Click 2 Protect Plan Variant with the following details:
Basic Sum Assured: INR 1 crore
Premium Payment Term: 5 years
Annual Premium: INR 5,08,837
From the 16th year of the policy when Shyamla Nair attains the age of 60 years, he would receive a monthly payout of INR 10,000. If he passes away in the 20th year of the policy, his nominee would receive a death benefit of INR 95,20,000.
Additional features & benefits of HDFC Life Click 2 Protect Plan:
- Add-On benefits:
You can opt for the following add-on benefits:
Flexibility in Premium Payment:
- Return of Premium:
The Rate of Premium, ROP option can be opted under the Life & CI Rebalance and Life Protect variants by paying a little extra premium. Upon survival until the maturity of the plan, you will be returned 100% of the Total Premiums Paid as a lump sum amount.
- Waiver of Premium on CI Option:
In case you are diagnosed with any of the listed Critical Illnesses, you will not have to pay any more of the premiums.
- Accidental Death Benefit:
This rider gives 100% of the Basic Sum Assured as an additional benefit to your nominee in case you pass away in an accident during the tenure of the policy.
HDFC Life Click 2 Protect Plan allows you to modify the frequency of premium payment without any fee/ charges.Reduction of Premium Payment Term:
You also have the choice to convert the outstanding Regular Premiums to a Limited Premium period, without having to pay any charges.Availability of Riders:
To further enhance the protection, you can opt for these riders by paying a little extra:
- HDFC Life Income Benefit on Accidental Disability Rider
In case of accidental disability, 1% of the rider sum assured is paid monthly, for 10 years.
- HDFC Life Critical Illness Plus Rider
Lump sum amount equal to rider sum assured is paid out if the insured is diagnosed with any of the 19 illnesses, and survive for 30 days post diagnose
- HDFC Life Protect Plus Rider
A benefit is paid out in case of accidental death, partial disability, cancer diagnosis
Documents required to buy HDFC Life Click 2 Protect Plan
It is suggested that you keep the following documents handy when buying HDFC Life Click 2 Protect Plan:
- Duly Filled and Signed Application Form
- Aadhar Card
- Current Address Proof
- Proof of Income
- Latest Passport size photographs (2-4)
Exclusions under HDFC Life Click 2 Protect Plan
Keep in mind the following exclusions:
- In case the insured individual commits suicide within 12 months of policy purchase, 80% of the total premium paid, is paid out to the nominee.
- Death caused due to participation in adventure sports and dangerous activities is not covered
- Death due to participation in civil war, war, and rebellion is not covered
- Death while participating in illegal activities is not covered
How to buy HDFC Life Click 2 Protect Plan?
Turtlemint makes buying insurance policies very simple and quick. It not only helps you in choosing the right plan but assists you all through your insurance journey. Just follow the steps given below:
- Step 1:
Go to ‘Life’ and click Compare Term Insurance. Enter the applicant’s details such as gender, date of birth, whether he/ she smokes or chews tobacco and his/ her annual income.
- Step 2:
Choose the Sum Assured Amount and enter your contact details. Then click Save Your Quote and a list of the most well-suited plans will be displayed on your screen.
- Step 3:
You can now take your time to browse through the different plans, and compare their features and the premium.
- Step 4:
When you make up your mind, you can select the policy and click ‘Buy Now ’. You would be asked to enter a few more details, after which you can click Continue.
- Step 5:
The proposal will be sent for User Approval once you verify the OTP. Someone from the company will get in touch with you soon.
When it comes to buying life insurance, HDFC Life is probably the first name that comes to mind. In the virus-stricken world, HDFC Life Click 2 Protect Plan is a great way to safeguard your loved ones against all kinds of uncertainties. While the worry of your family’s future hovers over you, this is a plan that offers you a sense of security that tomorrow even if something happens to you, your family would not be in a financial mess. Click 2 Protect balances death and critical illness in an intelligent and practical way. There are three different plan options available, this allows you the freedom to choose the best for your family.