Being the breadwinners of our family, it becomes our responsibility to fulfill the financial obligations of our family members, even when we're no longer around. And to fulfill this responsibility, you need a term life insurance plan. However, as time passes, the financial needs of the people also get changed and a standard term insurance plan might fail to cope with such changing requirements of the modern customers.
Luckily, HDFC Life Insurance recently launched the HDFC Life Click 2 Protect Life plan that meets the insurance needs of modern-day customers. It is an intelligent term insurance plan that provides benefits as per the altering lifestyle and life stage needs of the customers. This plan is designed to provide complete protection to the customers and cover their family's future financial needs.
Thinking of reasons to buy this plan? We'll give you plenty! In the sections below, we've discussed all the plan options, key features, benefits, and eligibility criteria of the plan. So, keep reading along to gain further understanding of the HDFC Life Click 2 Protect Life plan.
One of the distinctive features of the HDFC Click 2 Protect Life plan is that it has three very useful options packed in. Customers are provided with the benefit of choosing any one of these plan options at the inception of the policy.
Let's have a look at these plan options in detail.
This is a smart cover option that automatically balances the death and critical illness benefit as the age of the policyholder increases. Under this option, critical illness cover increases at each policy anniversary, and the life cover reduces correspondingly. Another useful benefit of this cover is that if in the future, the policyholder gets diagnosed with any of the covered critical illnesses, then all future premiums are waived off and the life cover continues.
Under this plan option, a lump sum payment is provided to the policyholder's nominee or beneficiary in case of his/her death.
This plan provides coverage to the insured person for the entire policy term and a lump sum payout benefit on the maturity date of the policy along with regular income starting from age 60.
Please note that the plan option once selected cannot be changed during the entire policy term.
Given below is a complete list of the key features of this plan. Go through the list to find out more about the plan.
The plan provides policyholders and their family members with comprehensive coverage to protect and take care of their future financial needs.
There are three options available within this plan and customers can enjoy the benefit of selecting the cover option at their convenience.
The plan comes with a unique auto-balancing feature that balances both the death and critical illness benefits according to the increasing age of the policyholder.
With this option, customers can avail the benefit of getting back all premiums paid if in case the insured person survives till the maturity date of the policy.
If the customer opts for the Life & Critical Illness Rebalance plan option and gets diagnosed with any of the listed critical illnesses, then all his premium amounts will be waived off for the future.
The plan offers special discounts and rebates on the premium rates for female lives and non-tobacco users.
HDFC Life Insurance Company has carefully crafted this plan with a variety of benefits and this is another reason why the plan is popular. Given below is a complete list of the benefits offered by this plan. Read along to find out.
With this option, customers get back the amount of premiums paid by them during the policy period. However, (s)he is required to pay an additional premium amount over and above the premium payable for the base plan option chosen. Upon survival of the policyholder till maturity date, 100% of the total premium amount is paid back in the form of a lump sum payment.
This add-on option will be available for:
Under this add-on benefit option, all the future premiums payable under the plan are waived off, if in case the insured person gets diagnosed with any of the covered critical illnesses.
This add-on benefit option provides the nominee of the policyholder with an additional amount equal to 100% of the basic sum assured if in case he/she dies due to an accident during the policy term. However, this option is offered only when the policyholder opts for a life protection option.
Premium Payment Alteration
This feature provides the customer with an option to alter the premium payment frequency of the plan during the premium payment term and that too, without charging any additional fee.
Reduction in Premium Payment Term
Under this benefit, the policyholder is provided with an option to convert the outstanding regular premiums into any limited premium period available under the plan options without any fee.
To help customers enhance their protection level, HDFC Life Click 2 Protect Life plan comes with a variety of rider options. Let's have a look at these riders.
Within this rider, the policyholder is provided with the benefits equal to 1% of the rider sum assured per month for the next 10 years, if in case (s)he faces any accidental total permanent disability. There is no maturity benefit available under this rider.
Under this rider, a proportion of the rider's sum assured amount is provided to the policyholder in case of his accidental death or partial/total disability due to accident or if he/she gets diagnosed with cancer as per the option chosen under this rider. However, there are no maturity benefits available within this rider.
This rider allows policyholders to claim lump sum benefit equal to the sum assured amount of the rider if in case (s)he gets diagnosed with any of the 19 listed critical illnesses and survives for a period of 30 days following the diagnosis. There is no maturity benefit available under this rider.
Here is a list of critical illnesses covered in this rider.
The table below highlights the eligibility criteria to buy the HDFC Life Click 2 Protect Life plan. Go through this table if you wish to buy this plan.
|Criteria/ Plan Option||Life & Critical illness Rebalance||Life Protect||Income Plus|
|Age of Entry||18 years to 65 years||18 years to 65 years||30 years to 55 years|
|Maturity Age||28 years to 75 years||18 years to 85 years||70 years to 85 years|
|Minimum Policy Term||5 years to 40 years||Single Pay: 1 month|
Regular Pay: 5 years
Limited Pay: 6 years
|70 years - Age at Entry|
|Sum Insured (minimum)||Rs. 20,00,000||Rs. 50,000|
|Premium Payment Term||Single Pay/ Regular Pay/ Limited pay||Limited Pay||Single Pay, Limited Pay|
**Last Updated on 27-04-2021
To help you make an informed decision, we've provided here a sample illustration of the different premium amounts of this plan. Refer to the chart below to get an idea about the premium rates of the plan according to the policyholder's age.
Note that the below illustration is for a healthy male person, (non-tobacco user) opting for a sum assured of Rs. 50 lakhs and policy term of 25 years.
Sample premium illustration of HDFC Life Click 2 Protect Life Plan
Like most of the other insurance plans, HDFC Life Click 2 Protect Life plan also comes with an exclusion, on the occurrence of which no claim is provided. The exclusion within this plan includes death due to suicide.
If the policyholder dies due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary of the policyholder shall be entitled to at least 80% of the total premiums paid till the date of death or the surrender value available as on the date of death whichever is higher, provided the policy is in force.
As a customer, you have two options for buying the HDFC Life Click 2 Protect Life plan. This means that you can either buy the plan online from the official website of the company or through third-party intermediaries like agents and brokers.
Our team at PolicyX.Com takes pride in calling ourselves a trusted web insurance aggregator and has helped several clients in buying the HDFC Life Click 2 Protect Life plan. So, to enjoy a hassle-free buying experience, you should consider buying this plan from PolicyX.Com.
Given below is a detailed explanation of both these types of buying processes.
Steps to buy from HDFC Life Insurance Company
Step 1: Visit the official website of HDFC Life Insurance Company.
Step 2: Click on 'Plans' tab from the top menu and select HDFC Life Click 2 Protect Life plan.
Step 3: Click on the 'Buy Online' option.
Step 4: Fill in the required details to calculate the premium for the plan.
Step 5: Select the rider(s) that you want to include in the plan.
Step 6: Click on the tab 'Proceed'.
Step 7: Fill in the form and submit the required documents.
Step 8: Make the final payment of the premium amount.
Steps to buy from PolicyX.com
Documents Required to Buy HDFC Life Click 2 Protect Life Plan
Given below is a list of supporting documents that the customers are required to submit while buying the plan online.
The company provides policyholders with a grace period of 15 days for a policy with monthly premium payments. Whereas the 30 days will be given for yearly, quarterly, annually premium payment policies. If you fail to pay premiums even under this limit, then your policy will become elapsed.
No. With this plan, the sum assured or policy term once selected cannot be altered.
No, there are no surrender benefits under this plan.
Yes. NRI's who hold dual citizenship and qualify as citizens of India are eligible to purchase this plan.
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