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HDFC Life, one of India’s largest private insurers launched their second online term plan called HDFC Life Click 2 Protect Plus. The plan comes with attractive features such as policy term up to 40 years, accidental death rider and monthly income options.
In October 2011, HDFC life had launched their first online term plan citing increasing interest among the Indian customers. The company witnessed instant success of HDFC Click 2 Protect (C2P) Term Plan and slowly become one of the leading sellers of online term plans in the life insurance space.
Learning from their experience of selling C2P, HDFC life has now launched Click 2 Protect Plus which has more features over the former. Four options offered by HDFC Click 2 Protect Plus are –
1) Life Option - Lump sum payout of Death Benefit
2) Extra Life Option (Accidental Death Benefit) - Lump sum payout of Death benefit in addition extra Sum Assured is paid in case of death due to accident.
3) Income Option - Part of Sum Assured payable on death and the remaining payable as monthly income for 15 years
4) Income Plus Option - Sum Assured paid on death & monthly income paid for next 10 years. The monthly Income can be chosen as Level or increasing at 10% p.a.
Every month around 5 lac people in India search for online term plans. The market of online term has been constantly growing since 2010 clocking approximate sales of 25,000 policies every month. More than 16 (of 24) life insurance companies offer online term plans and few months back, LIC entered the online term market with their long awaited LIC eTerm plan.
Go to HDFC Click 2 Protect Plus Term Plan Page