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HDFC Life Click 2 Protect Plus
HDFC Life Click 2 Protect Plus Review
HDFC Life Click 2 Protect Plus is a pure term insurance which gives a large amount of life cover for really low premiums. The policy also offers added features such as 1) option to increase cover on milestones such as marriage and child birth, 2) Accidental Death Benefit rider and 3) Taking the payout as lumpsum + monthly claim settlement.
HDFC Life Insurance has recently launched Click2Protect 3D Plus - their new online term plan which offers protection against 3D's - Death, Disability and Disease. Click here to know more.
This is a pure protection plan which pays the benefit amount only on the death of the policyholder. There is no maturity benefit in this plan.
In case of the unfortunate demise of Life Assured, the insurance company will pay the benefit as defined below to the nominee:
Single Premium Policy: Higher of :
125% of Single Premium
Regular Premium Policy: Higher of :
10 times the annualized premium
105% of all the premiums paid as on date of death
Life Option: The death benefit specified above is paid as lump sum on death.
Extra Life Option(Accidental Death Benefit): In addition to the death benefit mentioned above an additional benefit equal to Sum Assured is payable in case of death due to accident
10% of the Death Benefit paid as a lump sum upon death
Remaining 90% of the Death Benefit shall be paid as monthly income over next 15 years (0.5% of Death Benefit every month for 15 years)
Income Plus Option:
100% of the Death Benefit specified above shall be paid as a lump sum upon death
In addition, a monthly income equal to 0.5% of the Sum Assured shall be payable for a period of 10 years.
The monthly income can be level or increasing at 10% p.a. as chosen by the policyholder
C) Income Tax Benefit
Life Insurance premiums paid up to Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80C. The maturity amounts you receive from this plan are exempt from tax under section 10(10D)
Eligibility conditions and other restrictions in HDFC Life Click 2 Protect Plus Plan
Sum Assured (in Rs.)
Policy Term (in years)
Premium Payment Term (in years)
Regular, Limited or Single
Entry Age of the Life Insured (in years)
Maturity Age (in years)
Yearly, Half-yearly, Quarterly or Monthly
Additional Features and Benefits of HDFC Life Click 2 Protect Plus
Accidental Death Benefit Rider-Lump sum payout of Death benefit in addition extra Sum Assured is paid in case of death due to accident
Life Stage Protection Feature-Under Life Stage Protection Feature you have an option to Increase your Insurance Cover on certain key milestones of your Life like Marriage, Child Birth without fresh medical test
You can surrender the policy anytime and get surrender benefit stated as below:
Life, Extra Life Income Option and Income Plus Option:
70% x Single Premium x (Unexpired Coverage Term / Original Coverage Term)
No Surrender Value
No Surrender Value
Loans:No loans available on the policy
Suicide Clause:In case of death due to suicide within 12 months from the date of inception of the policy or from the date of the revival of the policy, the nominee or beneficiary of the policyholder shall be entitled to 80% of the premiums paid.
The Company will not pay accidental death benefit if the death occurs after 180 days from the date of the accident.
The Company will not pay accidental death benefit, if accidental death is caused directly or indirectly by any of the following:
If the death occurs after 180 days from the date of the accident
Intentionally self-inflicted injury or suicide, irrespective of mental condition
Alcohol or solvent abuse, or the taking of drugs except under the direction of a registered medical practitioner
War, invasion, hostilities (whether war is declared or not), civil war, rebellion, revolution or taking part in a riot or civil commotion
Taking part in any flying activity, other than as a passenger in a commercially licensed aircraft
Taking part in any act of a criminal nature with criminal intent
Taking part or practicing for any hazardous hobby, pursuit or race unless previously agreed to by us in writing