HDFC Standard Life Insurance Company Limited is a joint venture of HDFC Ltd. And Standard Life Aberdeen. Starting in 2000, it has grown to become one of India’s most popular life insurance companies. The company offers insurance plans for retirement, savings, health, and investment.
HDFC click 2 protect plus has 413 branches across India. It has 34 individual and 11 group products in its portfolio.
HDFC Life Click 2 Protect Plus is a comprehensive protection plan to protect you and your loved ones from life’s uncertainties. HDFC life click 2 protect plus plan is a protection plan. It offers comprehensive protection at a low premium rate. This insurance is a decent protection plan with the best features. It also provides various supplemental coverages.
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Key Features of HDFC Life Click 2 Protect Plus
1. Coverage options
There are 4 coverage options provided by HDFC Life Click 2 Protect Plus plan:
- Life Insurance Option: In this option, the nominee gets the money after the death of the policyholder.
- Extra Life with Accidental Death Option: The policy beneficiary receives a lump sum death benefit and an additional benefit in the case of accidental death.
- Income Option: Under this option, the nominee receives the insured amount and the remainder into monthly income over the next 15 years.
- Income Plus: Under this option, the insured receives the sum insured and monthly income for the next ten years upon the policyholder’s demise. The nominee can also select this monthly income at 10% per annum.
2. Premium rates
HDFC Click 2 protect plus offers a special premium rate for women. HDFC Click 2 protect plus provides a reasonable premium rate for people with healthy lifestyles, such as non-smokers.
3. Tax features
HDFC Click 2 protects plus aids with tax incentives under applicable laws and regulations. HDFC Life Click 2 protect plus plan receive applicable tax benefits Income Tax Act.
4. Other features
With the Click 2 protect life, you can avail of coverage for up to 85 years. It offers flexibility to choose from individual, limited, and regular premium payment options
Benefits of HDFC Life Click 2 Protect Plus
There are various benefits of the HDFC life click 2 protection plus plan which attracts more and more people to buy this policy. The benefits of HDFC click 2 protect plus are discussed below:
1. Term or Maturity of Click 2 Protect Life
Click 2 Protect Plus is a pure protection plan that pays only the total insurance amount only when the policyholder dies. There is no maturity benefit for click to protect life.
2. Death benefits
In the event of the unfortunate death of Life Assured under click 2 protect life, the insurance company will pay the beneficiary the benefits as defined below:
a) Single Premium Policy
- Higher than 125% of Single Premium
- Sum Assured
b) Regular Premium Policy
- Higher than 10 times the annualized premium
- 105% of all the premiums paid as of the date of death
- Sum Assured
c) Life Insurance Option: This option provides a payment to the nominee upon the death of the holder of Click 2 Protect life.
d) Extra Life with Accidental Death Option: The policy beneficiary receives a lump sum death benefit and an additional benefit in the case of accidental death.
e) Income Option: Under this option, the nominee receives the insured amount and the remainder into monthly income over the next 15 years.
f) Income Plus: Under this option, the insured receives the sum insured and monthly income for the next ten years upon the policyholder’s demise. 100% of the Death Benefit specified above shall be paid as a lump sum upon death. The nominee of click 2 protect life can also select this monthly income at 10% per annum.
3. Tax Incentives with Click 2 Protect Life
They are claiming tax incentives under Sections 80C and 10 (10D) of the Income Tax Act of 1961.
Eligibility Criteria of HDFC Life Click 2 Protect Plus
|Entry Age||Minimum: 18 years
Maximum: 65 years
|Maximum Maturity Age||85 years|
|Policy Term||5 to 40 years|
|Premium Payment Options
|Regular Pay – Throughout the policy term
Limited Pay – 5,10,12 years
Single Pay – One-time premium payment
|Sum Assured||Minimum: 25 Lacs
Maximum: No Limit
Additional Riders for HDFC Life Click 2 Protect Plus
The HDFC Life Click 2 Protect Plus insurance policy possesses various amazing features that are explained below:
1. Surrender Benefits
HDFC LIFE Click 2 Protect Plus policy provides a surrender value if the policyholder decides to surrender. The surrender value will occur immediately after premium payment for single premium options. The Limited Payment option will have value after compiling premium payments for two consecutive policy years of click 2 protect life.
2. Grace Period
You will get a grace period after the premium payment due date, during which a plan with risk coverage is considered valid. The grace period for HDFC Click 2 Protect Plus is 30 days for quarterly, semi-annual, and annual, and 15 days from the premium due date for monthly.
3. Cancellation of Premiums
If you pay the outstanding premiums by the end of the Grace Period for the Limited and Regular Payment Options, the HDFC Life Click 2 Protect Plus will lapse with payment, and the benefits will continue.
4. Free viewing period
If you are not satisfied with the terms of your insurance policy, you can return your click 2 protect life plan to the company with reasons within 15 days of receiving your policy. The free viewing period for HDFC Click 2 Protect Plus purchased through online/distance marketing is 30 days.
According to the terms and conditions, you can reinstate an expired HDFC Click 2 Protect Plus Plan within five consecutive years of expiration. However, you may have to pay the unpaid premium rates immediately with the applicable interest.
No policy loans are available against the Click 2 Protect Life Plan.
Four Plan Options Available Under HDFC Life Click 2 Protect Plus
Click 2 Protect Plus of HDFC offers four plan options:
1. Life Option Insured
The holder needs to select the amount insured, the amount of the premium, and the contract period at the time of signing the contract.
2. Extra Life Option of Click 2 Protects
With the Click 2 Protect Life Option, the policyholder’s dependents receive an additional life insurance amount equal to the insured amount in the event of accidental death. Therefore, upon the policyholder’s death, the nominee receives a lump sum, and the insurance ends.
3. Income Option of Click 2 Protects
This customized option for HDFC Life Click 2 Protect Plus allows policyholders to provide beneficiaries with a regular income and a lump sum at the time of death. To exercise this option, the policyholder of HDFC click 2 protect plus must select at inception:
- Then, if the policyholder of click 2 protect life dies, the insured will be paid 10% of the sum insured.
- The remaining 90% of the death benefit will be paid as monthly income over the next 15 years.
4. Income Plus Option of Click 2 Protect
100% of the above death benefit will be paid as a lump sum upon death. Insurance Amounts are for one payment over 10 years. Monthly income may be adjusted or increased by 10% per annum at the policyholder’s discretion.
Additional Features Available Under HDFC Life Click 2 Protect Plus Plan
Under Click 2 Protect Life, there is an option to raise the basic sum assured without underwriting in case any of the below events occur in the life of the policyholder:
1. Life Stage Protection
Life Stage Protection gives you the option to extend your coverage at certain vital milestones in your life, such as
- First marriage
- The First child is born
- The Second child is born
If you choose to exercise this option, you must meet the following criteria:
- Policyholders must be under the age of 45 at the time of the above event.
- The insured must be underwritten as a standard life at the policy’s inception.
- This option is only available for (6) months from the date of the above event.
2. Accidental death insurance
The nominee will get a lump sum for the death benefit of the driver and an additional benefit in case of death due to an accident.
3. Click 2 Protect Life Income Benefit for Accident Disabled Riders
The nominee will get a benefit equal to 1% of the rider’s life insurance policy each month for the next ten years in the event of permanent disability due to an accident. Expiration benefits are not available as part of this offer.
4. HDFC Click 2 Protect Life Critical Illness Plus Rider
If diagnosed with any of the 19 critical illnesses listed in the term and conditions and survives 30 days after diagnosis of this benefit, the beneficiary will get a one-time benefit equal to the driver’s insured amount.
How can You Claim your HDFC Life Click 2 Protect Plus Plan?
The HDFC Life Click 2 Protect Plus Plan is easy to purchase online. To purchase HDFC Click 2 Protect Plus, follow these steps:
1. Planning Adjustments/Customizations
- Select planning options.
- Choose the amount and plan that best suits your needs.
- Insurance policy and premium payment period.
2. Generate a Quote for the Premium
You can generate a quotation for your premium by entering the following details:
- Please indicate if you are a smoker or non-smoker
3. Provide Related Information
Hdfc click 2 protect plus will require you to provide information such as:
- Personal Data
- Family history
- Nomination details
- Agree to the terms of the policy
Documents Required for HDFC Click 2 Protect Plus
To buy the HDFC click 2 Protect plus policy, you need to submit some documents to the bank which are listed below:
- Age proof
- Identity proof
- Address proof
- Income proof
The HDFC Life Click 2 Protect Plus policyholders may also undergo a medical examination, and the documents are required. Based on the selected plan option, gender, and age, the minimum sum insured for this policy is Rs. 25,00,000. There is no upper limit on the amount insured, but this is subject to satisfactory underwriting. The minimum annual premium is Rs. 3000. If you have a Click 2 Protect Life Plus policy, the (4) premium payment options are available. For HDFC click 2 protect plus purchased online, the policyholder will get a 5.5% discount on the premium, while the minimum insurance amount remains Rs.3,000.
Details of Premium Frequency and Conversion Factor for HDFC Life Click 2 Protect Plus
|Premium Frequency||Conversion Factor|
Read more: Best Term Insurance Plans In India
Exclusion of HDFC Click 2 Protect Plus
There are a few cases that are not covered under the policy and the company will not accept the claim request. The cases that are excluded from the policy are:
If the life insurance policyholder commits suicide within 12 months of commencement/reinstatement of the click 2 protect life policy, the beneficiary will be liable for 80% of the total premium paid in HDFC Click 2 Protect Plus. The nominee is entitled to receive the surrender value accrued, depending on what is available on the day of death.
2. Death after 180 days of the accident
If the insured dies more than 180 days after the date of the accident, Click 2 Protect Life will not pay accidental death benefits.
3. Other causes
Click 2 Protect Life will not pay an accidental death pension if any of the following directly or indirectly causes the accidental death:
- Abuse of alcohol or solvents or use of drugs, except as directed by a licensed physician.
- Participation in a Civil War.
- Intentionally self-inflicted injury or suicide, irrespective of mental condition.
- Participation in a Flight activity other than as a passenger on a commercially licensed aircraft.
- Participation in criminal activity with the intent to commit a crime.
- Participation in pursuit of a dangerous hobby or race.
HDFC Life Click 2 Protect Plus – FAQs
Q1. What are the plan options available for HDFC Life Click 2 Protect Plus?
Plan options under HDFC Life Click 2 Protect Plus are – Life Option, Extra Life Option, Income Option, and Income Plus Option.
Q2. What happens if a click 2 protect life policyholder does not pay the premium?
When a premium is due, the life insurance insured is provided with a 30-day grace period to pay the premium at all frequencies other than monthly. However, with unpaid premiums, the contract status of HDFC Life Click 2 Protect Plus will be deemed expired, and HDFC Life Click 2 Protect Plus will be considered lapsed.
Q3. Can I have more than one online policy?
Yes, you can purchase more than one online policy if you need more than one policy. However, the same is subject to actuarial approval.
Q4. Do I need to undergo a medical examination?
A medical examination may or may not be required depending on the medical condition. Therefore, your medical tests will be short and basic (some examples are: blood tests, urine tests, etc.)