Benefits and Features of HDFC Click 2 Protect Plus Plan

Life is unpredictable. You plan a lot for your future and for your family. Being the earning head of your family, you work hard to give maximum comfort and amenities to your loved ones. But who will look after them when you are no longer around? So, among the various plans for future, you must also take measures to ensure that the goals of your loved ones are fulfilled even in your absence.

Term insurance is the right solution to tackle such situations.

Term insurance is a type of life insurance plan that provides death benefit to the beneficiary of the insured, when the insured leaves the world within the policy tenure.

You must buy term insurance plan after doing a complete research- compare various plans available, flexibility of the plans, premiums and sum assured, riders available etc. There are a lot of financial institutions who provide term insurance. HDFC is one such company that offers term insurance at an affordable rate. HDFC Click 2 Protect Plus Plan is an ideal plan for the sole breadwinners of the family.

This plan provides an extensive protection to your family safeguarding them against the unforeseen events of life. There are multiple cover plans to choose from as per your requirement. This is a great plan to secure the financial position of your dear ones, even when you are not around. Your family will not have to compromise with their living standards in your absence. The premium charges are also fair enough. The HDFC Click 2 Protect Plus term plan is also eligible for tax benefits based on Section 80C of Income Tax Act, 1961.

Let us delve more information about this term plan.

Features of HDFC Click 2 Protect Plus Plan

Following are the salient features of this term insurance:

• The HDFC Click 2 Protect term plan provides economic help to your loved ones if any untoward incident takes place in your life.

• The premium rates are quite reasonable and the plan provides a comprehensive security.

• The policy tenure can range from minimum 10 years to maximum 40 years. Maximum maturity age under this term insurance is 75 years.

• HDFC Click 2 Protect Plus offers 4 variations of life cover to choose from as per your needs:

• Life option

The nominee receives death benefit i.e. lump sum assured upon the demise of the policyholder.

• Extra life option

This option includes death benefit as well as accidental benefit. The nominee not only receives assured lump sum amount but also an additional assured sum, if the policyholder dies in an accident.

• Income option

In this plan, 10% of the assured sum is handed immediately to the beneficiary upon the insured’s death. The remaining 90% of assured amount is handed in the form of monthly income over a period of 15 years.

• Income Plus option

Under this cover, the complete assured sum is paid to the nominee. Additionally, 0.5% of the assured sum is handed to the beneficiary as monthly income for the next 10 years. The monthly income can be constant throughout the period or increased at a rate of 10% per annum.

• The term plan offers flexibility in premium payment. There are three method to choose from for the payment of premium:
• Regular pay

You have to pay a constant premium throughout the policy period.

• Limited pay

You complete the payment of premiums before the last 5 years of policy tenure.

• Single pay

You pay the total premium in a single transaction.

• HDFC Click 2 Protect Plus plan offers 4 alternatives for frequency of premium payment: Annual, Half Yearly, Quarterly, Monthly

• Under Section 80C and Section 10D of Income Tax Act,1961, you can avail concessions on tax under this term insurance scheme.

• The term plan offers attractive discounts to non-tobacco users.

Benefits of HDFC Click 2 Protect Plus Plan

Following are the major advantages of buying the HDFC Click 2 Protect term insurance:

• Death benefit: The policyholder’s family or beneficiary receives the assured sum upon his/her unexpected demise.

• In case of single premium policy, either assured sum or 125% of single premium, whichever is higher, is paid to the insured’s family.

• In case of regular premium policy, either assured sum or 105% of all premiums paid till death or 10 times the annualized premium, whichever is higher, is handed over to the nominee.

• Accidental death benefit is available if the insured chooses extra life option.

• Under Income scheme, the insured’s family receives regular monthly instalments apart from a lump sum.

• Under life option, life stage protection feature is available. It allows you to increase your life coverage, when certain milestones in life have been accomplished. The future premium increase, if you increase your assured sum. You are also given the liberty to lower additional covers at later stage. This decreases the future premium pays.

• The term insurance provides a minimum assured sum of Rs.25 lakhs. The maximum varies as per age, gender and plan choice undertaken.

• The minimum entry age to buy term insurance plan is 18 years and maximum age is 65 years.

• The minimum annualized premium is Rs.3,000. There is no capping on the maximum premium.

• There is no maturity benefit on this plan. The policyholder will not receive any money on surviving the entire policy tenure.

To Conclude…

HDFC Click 2 Protect Plus Plan is indeed an ideal term insurance plan that provides an extensive coverage at an extremely reasonable cost. You will need age proof, identity proof, address proof, income proof to buy term insurance plan. Also, some basic medical tests will be carried out for approval of the plan. Online purchase of this plan will provide great discounts on premium payments.

You must buy term insurance at an early age. This ensures that you have to pay lower premiums for a longer period of time compared to late purchase. The younger you are, more are your chances of being physically fit. This will ensure that you receive the life cover at a competitive rate too.

Also, when paying for term insurance, choose annual mode of payment. This is the cheapest mode of payment compared to half-yearly, quarterly or monthly payment option. You can always enhance your insurance coverage by adding riders like Critical Illness or Accidental Disability to the original term insurance plan by paying an additional premium.

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