HDFC Life Click2Protect Plus Term Plan

Protect your loved ones in your absence with the HDFC Life Click 2 Protect Plus, a comprehensive protection plan at an affordable price, to protect you and your loves ones through life’s uncertainties. With this term life insurance policy you can choose the cover options and the insurance cover depending on your needs and requirements. Securing your family and their day to day wants in your absence in the form of monthly income under Income & Income Plus Option.

Eligibility of this policy is as mentioned below: 

Particulars	Limits
Age	Minimum 18 years Maximum 65 years
Maturity age	75 years
Tenure of coverage	Minimum 10 years Maximum 40 years Subject to meeting the maximum maturity age.

Documents required: 

1. Age proof
2. Identity proof
3. Address proof
4. Income proof.
5. There also may be a requirement for the policyholder to take up a medical test and those document will be required

Based on your plan option chosen, your gender, and your age, the minimum sum assured for this policy will be Rs. 25,00,000. There’s no limit on the maximum sum assured, but this is subject to satisfactory underwriting.

When you have taken up the Click 2 Protect Plus policy, you will have 4 types of premium payment options, the minimum annualized premium will be Rs. 3000, again there’s no annual premium this is subject to satisfactory underwriting again.

Premium Frequency	Conversion Factor
Annual premium	1.0000
Half yearly premium	0.5100
Quarterly premium	0.2600
Monthly premium	0.0875

For all policies bought online, the policyholder will get an 5.5% discount on premium, but the minimum sum assured remains the same of Rs. 3,000.

Features of these plans: 

The HDFC Life Click 2 Protect Plus provides you with 4 different cover options:

1. Life Cover option: the option gives the nominee of the payout on the death of the policyholder.
2. Extra Life with accidental death benefit option: The nominee of the policy will receive a lump sum payout as a death benefit in addition an extra sum assured is paid in case of death due to accident.
3. Income option: Under this the nominee will receive a sum assured payout as well as the remaining amount divided into monthly incomes for the next 15 years.
4. Income Plus option: Under this option the nominee will receive the sum assured paid on the death of the policyholder and for the next 10 year will receive a monthly income. This monthly income can be even chosen as a normal or increasing income at a rate of 10% p.a.

Benefits of this plan:

1. Death benefit: In the unfortunate death of the policyholder, the nominee will receive benefits as per the premiums policies chosen, if a single premium policies is chosen then the nominee will receive 125% of a single premium and the sum assured. If the premiums are other than single premiums then the nominee will receive 10 time the annualized premium, 105% of all premiums paid as on the date of demise of the policyholder, sum assured.
2. Maturity benefit: There isn’t a maturity benefit for this policy.
3. Life stage protection: This option is available when the policyholder has taken the Life option with an additional premium. This increases the sum assured cover, and reduces the additional cover, which later on can lead to reduction in future premiums.
4. Tax benefits: Avail of tax benefits under section 80C and 10 (10D) of the Income Tax Act 1961

An example:

Anil Madhusudan, a 28 -year-old MEO in Bangalore, opts for a sum assured of Rs. 2 crore for 20 years at an annual premium of Rs. 15,000. Tragically Mr. Anil passes away after paying seven premiums. Therefore, his nominee gets Rs. 1 crore Sum Assured in addition to Rs. 50,000 as monthly income, which increases at 10% every year, with effect from the policy anniversary of the demise of Mr. Anil.

Frequently asked questions:

1. Will I need to go through a Medical Test?

   Based on your health status a medical test may or may not be required. Your medical tests will be short and basic (some examples are: blood test, urine test etc.)

2. Can I more than one online policy?

   Yes, you can buy more than one online policy, if you think and believe you need more than one. The same will be subject to underwriting approval.

3. How long does it take for processing after you get my documents?

   It will take about 5 - 10 working days to process after receiving all documents and medical tests.

4. Do I tax benefit with the purchase of this online policy?

   Yes, you will be eligible for tax benefits under section 80c under the Income Tax Act.