Insurance Plans 241 views July 4, 2019

HDFC Life Click to Protect Plus Insurance Plan

HDFC Life Click 2 Protect Insurance Plus

Buying a term insurance plan means that you have secured the future of your loved ones against any sudden or unforeseen risk to your life. While the misfortune and sense of grief stemming from death cannot be alleviated, the death payouts in term insurance make up for the resulting loss of income.

HDFC Life Insurance Company had launched the HDFC Life Click to Protect Plus plan with the intent to secure the lives of their customers in lieu of affordable premiums. Multiple cover options designed with the intent to meet varying life insurance needs are available. Moreover, the plan’s income and income plus options ensure that the nominee(s) of the policyholders are entitled to a monthly income for a specified period. 

Features of HDFC Life Click 2 Protect Plus

HDFC Life Click 2 Protect Plus is a term insurance plan with the following in-built features:

  1. Life Option

  2. Extra Life Option

  3. Income Option

  4. Income Plus Option

Benefits of Buying HDFC Life Click 2 Protect Plus Insurance Plan

Not all term insurance plans are available with the same kinds of benefits. The essential benefits of buying an HDFC Life Click 2 Protect Plus plan include:-

1)Death Benefits

Just like any other term insurance plan, investing in this product also ensures a predetermined amount of sum assured that is handed over to the nominees as death payouts in the event of the policyholders’ unfortunate death. However, the death benefits may be available as:-

Single-Premium Policy

The predetermined amount of sum assured or 125 percent of the single premium paid, whichever is higher.

Policies other than a single premium option

The highest of sum assured or 10 times the yearly premium paid or 105 percent of the total premium paid as on the date of death. 

2)Life Stage Protection

Certain stages in our lives need to be protected. This unique feature ensures that our nominees have enough life cover amount in their hands so that they may focus on their goals rather than milling under financial distress. This plan also allows existing policyholders to increase the sum assured by paying additional premiums. 

3)Tax Benefits

Dual tax benefits are inherent to the plan. This means that in addition to the discounts on premium charges available under Section 80C, the death benefits are eligible for tax deduction under Section 10(10D) of the Income Tax Act 1961.

4)Premium Paying Flexibility

This plan allows the customers to pay premiums towards the plan either monthly, quarterly or yearly. 

5)Premium Charges

The minimum amount of monthly premium towards this plan is Rs 3000 while the maximum can go up to any amount as per the convenience of the policyholder. 

6)Limited Premium Pay

Some policyholders find it difficult to pay premiums throughout the entire policy period. This plan suits best to who prefer to pay premiums only for limited periods. Policyholders are not required to pay premiums beyond the first five years of policy purchase, thus, availing them security at nominal premium charges. 

While buying any life insurance plan, it is important to keep in mind the credibility of the insurance company selling the plan. With an impressive claim settlement ratio exceeding 97 percent, the company’s policyholders are assured that the claims being made by their nominees will be honored by the company.