HDFC Life Click 2 Protect Plus Term Insurance Plan – Features

Term insurance plan is like a protection shield that not only takes care of your present but ensures future financial needs of your family. Secure the future of your loved ones with HDFC Life term plan. HDFC Life is among the leading insurance providers in India which offers wide range of insurance products to meet the insurance requirements of various customers. ‘HDFC Life Click 2 Protect Plus’ plan is a comprehensive protection policy which offers different choices in cover options. You can go for desired cover option on the basis of your insurance requirement. You may also avail regular income facility under HDFC Life term insurance plan.

Why to Choose HDFC Life Click to Protect Plus Term Insurance Policy?

Term plans are the best investment instrument in the recent times that insures your present and ensures the future safety of your loved ones. Some of the major reasons for choosing HDFC Click to Protect Plus plan of HDFC Life are:

• HDFC Life Click to Protect Plus term insurance plan provides regular income to your family in your absence. Depending upon the cover option chosen, your family can avail long term monthly income from this plan in case of any mishap.
• A term insurance plan like Click 2 Protect Plus, provides comprehensive life coverage at minimum premium rate. You can avail larger coverage at lesser premium.
• The term plan provides an opportunity to avail extended protection along with the basic structure of the policy.

Features of HDFC Life Click to Protect Plus Policy?

This is a unique term insurance policy which provides different benefit structures at an affordable price. Key features and benefits of Click 2 Protect Plus term policy of HDFC Life are:

• Premium Discount – The plan provides special discount on the premium rates for female applicants and non-smoking individuals.
• Add-On Facilities – The plan allows increase in the amount of life cover by increasing sum assured on crucial milestones of life such as at the time of marriage (50 percent of the sum assured) and at the time of child birth (25 percent of sum assured on the birth of each child). However, this add-on feature can be reduced after the policy owner turns 45yrs in order to reduce future premium rate of HDFC Life Click to Protect Plus policy.
• Death Benefit – The lump sum amount received by the nominee on the death of the insurance owner is called death benefit. The amount to be received as death benefit depends upon the type of plan being chosen by the insured person. For single premium policies, the death benefit would be 125 percent of the single premium and the assured amount. For other types of payment, the death benefit would be either 10times the annual premium or 105 percent of the total premiums paid by the insured until the date of death. Four different plan options are provided by HDFC Life Click to Protect Plus plan are: life option, extra life option, income option and income plus option
• Life Cover Option Death Benefit – If death occurs to the policyholder, sum assured on death is paid to the beneficiary under life cover option. Entire benefit amount on death is received by the nominee on demise of the insured. The death benefit payable depends upon the type of cover option you choose.
• Extra Life Cover Option Death Benefit – Accidental death benefit under extra life cover option is offered by HDFC Life Click to Protect Plus plan. In this type of cover option additional sum is assured for accidental death of the insured on the top of normal death benefit amount. If extra life option has been chosen by the insurance owner, total sum assured on demise is being paid to the nominee on the death of the insured person along with additional sum assured on accidental death will be paid.
• Income Option Death Benefit – If you choose income option, 10 percent of the sum assured on demise would be paid as a lump sum amount to the beneficiary on the death of the insured person and the remaining 90 percent of the death benefit is paid in equal monthly installments to the nominee for next 15yrs.
• Income Plus Cover Option Death Benefit – If you choose income plus cover option then the total sum assured on demise is paid out to the nominee on the death of the insured and an additional amount equivalent to 0.5 percent of Sum assured will be paid to the nominee in monthly installments for 10yrs.
• Life Stage Cover – HDFC Life Click to Protect Plus policy also offer two choices in additional payout under the income plus option cover:
• Level Payout
• Increasing Payout at the rate of 10 percent per annum.

In income plus option, the additional monthly income can be received either as level payout or as increasing payout, as per the wish of the policy owner.

• Tax Benefits – This term insurance plan of HDFC Life is also eligible for tax benefits on both, the premium paid and the claims received, according to the norms of Sec. 80C and 10(10D) of income tax act, respectively.