HDFC Life Click 2 Invest Plan

What is HDFC Life Click 2 Invest Plan?

HDFC Click 2 Invest is a non-participating, unit-linked individual life insurance savings plan. The investment plan aims to help you build wealth systematically for your family, paying out a lump sum at maturity. In addition to savings, it provides life insurance and additional benefits, acting as a pillar of financial security to protect your family from hardship in case of any uncertain events. 

Features of HDFC Life Click 2 Invest Plan

A Unit Linked Insurance Plan offers wealth creation opportunities along with financial protection for your family. The features of the HDFC Click to Invest plan include:

• Choice of Plans: The plan offers a choice between two plan options: Growth and Loyalty.

• Multiple Death Benefit Options: You can select from four death benefit options: Classic, Classic Plus, Classic Waiver, and Classic Waiver Plus at policy inception to suit your specific protection needs.

• Flexible Premium Payments:You can choose to pay your premiums as Single Pay, Limited Pay, or Regular Pay throughout the policy term, offering flexibility comparable to selecting the best SIP to invest based on cash-flow preferences.

• 10 Fund Options: The plan provides a wide selection of 10 investment funds with varying risk profiles, aligning your investment strategy with your financial goals.

• Loyalty Additions: The Loyalty plan option is designed to enhance your fund value with various loyalty additions over the policy term.

• Simplified Underwriting: The plan may be offered with a Short Medical Questionnaire (SMQ) if conditions are met, simplifying the underwriting process. 

Eligibility Criteria for HDFC Life Click 2 Invest Plan

HDFC Click 2 Invest is a highly preferred investment option. The eligibility criteria for the plan are as follows:

Benefits of HDFC Life Click 2 Invest Plan

There are a variety of HDFC Investment Plans that suit your financial goals. The benefits offered by Click 2Invest HDFC plan are:

1. Maturity Benefit: 

   You will receive the entire fund value on survival until the end of the policy term. The fund value is calculated by multiplying the number of units in your fund by the prevailing unit price. You can opt to receive this benefit as a lump sum or in instalments.

2. Maturity Income Benefit (Settlement Option): 

   If your fund value at maturity is ₹1 lakh or more, you can choose to receive your maturity benefit in instalments over a maximum of 5 years. During this period:

   • The risk cover is maintained at 105% of the total premiums paid, and mortality charges will be deducted.

   • Only the fund management charge and switching charge (if applicable) are levied.

   • Switches between funds are allowed, but partial withdrawals are not.

   • You have the option to withdraw the entire outstanding fund value at any time without any charges.

3. Death Benefit: 

   The death benefit is paid to the nominee upon the death of the life assured. The specific benefit depends on the option chosen at inception:

   • Classic: The highest of: Sum Assured (less partial withdrawals in the last two years), Fund Value, or 105% of total premiums paid.

   • Classic Plus: The highest of: Sum Assured plus Fund Value, or 105% of total premiums paid.

   • Classic Waiver: The higher of: Sum Assured or 105% of total premiums paid. Additionally, future premiums are waived, and an amount equal to the modal premium is credited to the fund. (For Regular/Limited Pay only).

   • Classic Waiver Plus: The higher of: Sum Assured or 105% of total premiums paid. Additionally, future premiums are waived, and a Monthly Income Benefit equal to a percentage of the Sum Assured is paid for a chosen term. (For Regular/Limited Pay only).

4. Partial Withdrawal: 

   After the 5-year lock-in period, you can make partial withdrawals to meet financial emergencies, subject to the following:

   • The life assured must be at least 18 years of age.

   • Top-up premiums have their own 5-year lock-in period.

   • The minimum withdrawal amount is ₹10,000.

   • The fund value must not fall below 150% of the annualized premium (for regular/limited pay) or 25% of the single premium (for single pay).

5. Loyalty Additions: 

   • Fund Value Enhancer: For the loyalty plan option, extra units are allocated every 5 years starting from the 10th policy anniversary.

   • Return of Policy Administration Charges: For the loyalty plan option, all policy administration charges collected until the 25th policy year are added back to the fund.

   • Return of Mortality Charges (ROMC): For the Classic Waiver Plus option, mortality charges deducted from age 56 to 70 are returned at maturity.

   • High Death Benefit Multiple Booster: For the Classic option with a high sum assured, a multiple of the mortality charge deducted 10 years prior is added back to the fund annually from the 11th year.

HDFC Life Click 2 Invest Plan Riders 

You can enhance your coverage with the following linked riders, which have no additional charges on this plan:

• HDFC Life Income Benefit on Accidental Disability Rider - Linked: Provides a monthly income for 10 years in case of accidental total permanent disability.

• HDFC Life Protect Plus Rider - Linked: Offers protection against cancer, accidental death, or disability

• HDFC Life Health Plus Rider - Linked: Provides a lump sum on the diagnosis of one of 60 critical illnesses or a proportionate benefit for cancer.

• HDFC Life Waiver of Premium Rider - Linked: Waives future premiums in case of the life assured’s death, disability, or critical illness.

• HDFC Life LiveWell Rider - Linked: A comprehensive rider that covers death, accidental disability, hospitalisation, and surgeries.

HDFC Life Click 2 Invest Plan Additional Details

• Grace Period: 15 days for the monthly mode and 30 days for other modes.

• Lock-in-Period: As a linked insurance product, it has a lock-in period of five years, during which no complete or partial withdrawals can be made.

• Switching: The first 4 switches per policy year are free.

• Premium Redirection: The first four premium redirections per policy year are free.

• Top-Up Premiums: Allowed with their own 5-year lock-in period.

• Discontinuance of Premiums (within 5 years): The fund value is transferred to a Discontinued Policy Fund with a guaranteed 4% p.a. return. The proceeds are paid after the 5-year lock-in.

• Discontinuance of Premiums (after 5 years): The policy becomes a Reduced Paid-Up policy.

• Revival Period: A discontinued policy can be revived within three years from the date of the first unpaid premium.

• Tax Benefit: Tax Benefits may be available as per prevailing tax laws. You are requested to consult your tax advisor.

Exclusions Under HDFC Life Click 2 Invest Plan

Suicide Exclusion:

If the life assured commits suicide within 12 months of the policy's inception or revival, the benefit paid will be the fund value as on that date.