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Overview of HDFC Life Quick Protect Plan
HDFC Life Quick Protect is a comprehensive term insurance plan that provides coverage against death, disease, and disability. The plan is highly customizable with flexible term coverage and various sum-assured options.
The entry age for the Quick Protect solution by HDFC Life is 18 to 50 years, while the maximum maturity age is 75 years. The plan is considered one of the best term insurance plans, offering protection against 19 critical illnesses with the critical illness rider option and life cover with 2X coverage for accidental coverage. A regular monthly income payable for 10 years in case of Accidental Total Permanent Disability is also a key feature of the plan.
Key Benefits
- Life Protect Option
- Accidental Death Benefit
- Multiple Premium Paying Terms
- Tax Benefits as per laws
- Affordable Premiums
- Income Benefit on Accidental Disability Rider
Riders Associated with HDFC Life Quick Protect Plan
You can add the following riders to your HDFC Life Quick Protect Plan:
HDFC Life Critical Illness Rider
A lump sum amount is offered in case the policyholder is diagnosed with any of the 19 critical illnesses.
HDFC Life Accidental Death, Disability and Dismemberment Rider
Get an extra payout on top of the base cover in case of accidental death, dismemberment, and total and permanent disability.
Income Benefit on Accidental Disability Rider
The policyholder receives a regular monthly income equal to 1% of the rider's sum assured per month for ten years upon accidental disability.
Features of HDFC Life Quick Protect Plan
Life Cover
The plan offers complete protection up to the age of 75 years.
Policy Loan
Under the HDFC Life Quick Protect Plan, you cannot avail of a policy loan against your policy.
Flexible Premium Payment
Flexible premium payment terms allow you to pay a premium once, for a limited period, or throughout the policy term.
Lump Sum Death Benefit
The death benefit shall be paid as a lump sum on the unfortunate death of the life assured during the policy term.
Accidental Cover
You can get an extra payout on top of the base cover in case of accidental death of the life insured during the policy term.
Critical Illness Benefit
Critical Illness Benefit protects policyholders against 19 listed critical illnesses. The benefit is available as a ₹10 Lakh cover under both Flexi and Fixed cover packages.
Tax Benefit
HDFC Life Quick Protect offers a tax rebate of up to ₹1.5 Lakhs under Section 80C of the Income Tax Act, 1961, for premiums paid in the same financial year.
Accidental Death Benefit Option
Under the Accidental Death Benefit option, the policyholder receives life cover with 2X coverage for accidental death.
Life Protect Option
Under the HDFC Life Quick Protect Plan, customers can avail protection against death. Under the Flexi package, they can opt for sum assured options between ₹25 Lakhs to ₹40 Lakhs, and under the Fixed package, customers can avail up to ₹25 Lakhs.
Exclusions
- Death due to a pandemic is not covered by the company.
- Death caused by adventure sports.
- Death due to consumption of drugs and alcohol.
- Death due to any pre-existing disease not declared at the policy's inception.
- If a policyholder commits suicide within the first 12 months of purchasing the policy, no death benefits are paid to their nominee.
