HDFC Life Click 2 Achieve Par Advantage Plan

Eligibility Criteria for the HDFC Life Click 2 Achieve Par Advantage Plan

Features of the HDFC Life Click 2 Achieve Par Advantage Plan

The plan offers several features designed to provide financial protection and income flexibility. Let us explore some of the key features.

1. Five Flexible Plan Options

   Policyholders have lump sum, balanced income, early income, enhanced income, and guaranteed income.

2. Life Insurance Protection

   The plan provides the family with life cover during the policy term.

3. Additional Life Option

   By taking a spouse, you can have a policy covering two lives under one plan.

4. Policy Continuance Benefit 

   The policy remains in force even if the life assured passes away, with subsequent premiums waived and the payout made to the nominee.

5. Guaranteed Payout Option

   Other plans offer guaranteed payments throughout the policy.

6. Premium Offset Facility

   The accumulated bonuses or payouts can be used by policyholders to pay future premiums.

   These features make the plan part of a category of HDFC Life Investment Plans that offer both protection and structured payouts.

Benefits of the HDFC Life Click 2 Achieve Par Advantage Plan

The plan has several advantages, including life insurance and savings growth. Here are the key benefits.

1.  Death Benefit

   In case the life assured dies in the policy term, the nominee will get the largest of:

   • Sum Assured on Death plus relevant bonuses.
   • 105% of the total premiums paid

   Where the Additional Life Option is used, the occasion of death of either party will attract the benefits being paid on the first and second death.

2.  Survival Benefit

   Other plan options allow periodic survival benefits, i.e. a cash bonus or guaranteed payout, throughout the period of the policy.

3.  Maturity Benefit

   In case the life assured outlives the policy maturity, the policyholder will get:

   • Sum Assured on Maturity
   • Accrued reversionary bonus (in case declared).
   • Interim bonus (if any)
   • Terminal bonus (if declared)

   This combination helps the plan act as a long-term savings tool for the best investment plans to be used in disciplined financial planning.

Riders Under the HDFC Life Click 2 Achieve Par Advantage Plan

Riders can enhance the protection offered under the base policy by adding additional coverage for specific risks. Let us review the rider options available under the HDFC Life Click 2 Achieve Par Advantage Plan.

1. HDFC Life Income Benefit On Accidental Disability Rider.

   This rider is a monthly income benefit which will be paid to the policyholder in case there is an accidental occurrence of total permanent disability. The benefit is given in the form 1% of the rider's sum assured monthly up to a maximum of 10 years.

2. HDFC Life Protect Plus Rider

   This rider gives more financial coverage against accidental death, disability and some forms of cancer which turns the overall coverage of the base policy to be more enhanced.

3. HDFC Life Health Plus Rider

   This rider provides a lump-sum payout if the insured is diagnosed with any of the covered critical illnesses, up to 60 medical conditions, to help cover high medical costs.

4. HDFC Waiver Of Premium Waiver Rider

   With this rider, all subsequent premiums for the underlying policy and its riders are waived if the policyholder is diagnosed with a covered critical illness or disability, or in the event of death, even if the policy benefits still persist.

Policy Details Of the HDFC Life Click 2 Achieve Par Advantage Plan

1. Grace Period

   Monthly and other payments have grace periods of 15 and 30 days, respectively, to make overdue premiums without loss of the policy.

2. Revival

   Any policy that has lapsed can be reinstated with a lapse of up to 5 years on the first unpaid premium, on condition of payment of the outstanding premiums and interest.

3. Free Look Period

   Within 30 days of delivery of the policy, policyholders may cancel it if they are not satisfied with the terms.

4. Surrender

   Surgery value is gained after the first year's premium payment. The Guaranteed Surrender Value and Special Surrender Value, whichever is higher, is the value of the Surrender to be determined.

5. Loan

   The loan limit is 80% of the policy's value, which the policyholders may receive throughout the policy term.

Exclusions Under the HDFC Life Click 2 Achieve Par Advantage Plan

1. Suicidal Cover

   In case the life assured commits suicide within 12 months of the commencement or revival of the policy, the nominee would get at least 80% of the total amount of premiums paid or the value of the surrender benefit, whichever between the two is more substantial.

2. Total Permanent Disability (TPD)

   TPD benefits are applicable only with respect to the selected rider and a disability corresponding to the policy's medical conditions.