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HDFC Life Click 2 Retire Plan

HDFC Life Click 2 Retire is an online Unit Linked Plan. Thus, it is a Non-Traditional Insurance Plan without Bonus facility. It offers market linked returns, with minimal charges and helps to achieve his/her retirement goals by planning well in advance.

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Buying Insurance Online with Ease
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Flexible Payment Options
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Zero Premium Allocation
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Key Features

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Buying Insurance Online with Ease

Online hassle free buying process

Zero Premium Allocation: Save More on Insurance

Zero Premium Allocation Charge

Flexible Payment Options

Limited and Single pay options

Plan Your Retirement Early

 Lower Vesting Age of 45 Years with HDFC Life

Partial Withdrawal

It is not allowed in this plan.

Modifications

Alterations of premium, policy term, and premium paying term are not allowed. Change in frequency of premium payment is allowed anytime.

Benefits

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Death Benefit

In case of death of the Annuitant within the Policy Tenure, the nominee will receive the following:-

  • Fund Value
  • 105% of the total premiums paid till date.
Maturity Benefit

When the policy matures, the higher of the below will be paid to the policyholder

  • Fund Value
  • Assured Vesting age 
Deferment of vesting age

The deferment of vesting date (retirement date) can be intimated any time before annuity:-

  • Policyholder can postpone the vesting date any number of times subject to the maximum vesting age of 75 years, provided s/he is below an age of 55 years
  • On postponement of vesting date, Assured Vesting Benefit and Death Benefit will continue to apply.
  • The Assured Vesting Benefit will be the same as that calculated on the policy term chosen at the inception of the policy.
  • The funds will move to Pension Conservative Fund and all applicable charges will continue to be deducted.
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 and 1/3rd of the Maturity proceeds are tax free under section 10(10)A subject to fulfilment of terms and conditions

Securing Your Retirement Corpus Even at the Age of 40

A person working in MNC aged 40 years plans his retirement corpus and realizes that he has not gathered enough money during his working years that will take care of your expenses once he retires. He was expecting a corpus of Rs. 30 lacs, out of which his current investments and superannuation funds would earn him a total of approximately Rs. 10, 50,000 i.e. only 35% of total money required. Let’s see how HDFC Life Click 2 Retire will help him achieve his retirement goal.

Riders

There are No Additional Riders in this plan

Investment Fund Options
  • Pension Equity Plus Fund
  • Pension Income Fund
  • Pension Conservative Fund 
Freelook

If the policyholder is not convinced with the Terms and Conditions of the policy, s/he can cancel the policy within 30 days from the date of receipt of the policy document

How it works

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In this plan, the policyholder can choose either a single pay or premium paying term of 8, 10 or 15 years with policy term of 10 to 35 years (except 11 to 14 years). At the end of the policy term, the higher of Fund Value or assured vesting benefit is paid as Maturity Benefit. 
However, if the Annuitant dies within the policy tenure, the higher of Fund Value or 105% Total Premiums paid, are accumulated as Death Benefit. The nominee has an option to take this amount as annuity from or to withdraw the proceeds. Upon the payment of this benefit, the Policy terminates and no further benefits are payable.

Eligibility

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Eligibility

Minimum

Maximum

Entry Age of Annuitant (in years)

18

65

Age at Vesting / Maturity (in years)

45

75

Payment modes

Yearly, Half-Yearly, Quarterly and Monthly

Premium Payment Term (Years)

Policy Term (Years)

Single pay

10,15 to 35

8 pay

10,15 to 35

10 pay

10,15 to 35

15 pay

15 to 35

FAQs

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angle down iconWhat happens if you stop paying the premium before 5 years ?

If the policy holder stops paying the premium, the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated Fund Value will be payable to the nominee.
The policy can be revived as well but within a period of 2 years from the Date of Discontinuance of the Policy or before completion of the Lock-in period of 5 policy years, whichever is earlier.

angle down iconWhat happens if you stop paying the premium after 5 years ?

If the policy holder stops paying the premium after 5 years, then there is no Surrender/Discontinuance Charges and the Fund Value is paid to the policy holder and the policy will terminate immediately.

angle down iconWhat happens if you want to surrender the policy ?

If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the Fund Value net of any discontinuance charge, if at least 5 years’ premiums have not been paid, will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.
If the policyholder surrenders the policy after completion of 5 policy years, then there is no Surrender/Discontinuance Charges and the Fund Value is paid to the policy holder and the policy will terminate immediately.

angle down iconWhat happens if you want a loan against your policy ?

There is no loan available under this plan.