A term insurance plan is one of the many types of life insurance plans available in the market. In term insurance, the insurance company provides the death benefit to complete family or nominees of the insured when insured dies before the specified period.

Life is very uncertain; it is not possible to predict what is going to happen next. That is why people buy a term plan to protect their family and fulfill the requirements of the family even in their absence. It is important that people should do a lot of research before buying any term plan. It is a long-term investment so it should be made wisely after considering all the important factors including sum assured, the premium amount to be paid, the tenure of the policy, additional benefits or riders, and more. There are various tools available online by which you can check to compare various plans. If you are planning to buy a term insurance plan sometime soon then you should check HDFC Click 2 Protect Plus Plan once as it is one of the best term insurance plans in the market.

HDFC Click 2 Protect Plus Plan is a term insurance plan present in the Indian market. The main aim of this plan is to provide you complete protection at a reasonable price. This plan assures to provide financial assistance to your loved ones in case of uncertainties that may come in the way. Many cover options are available in this plan; you can choose any as per your requirement. HDFC Life Click 2 Protect Plus Plan is one of the best plans for those who are the sole bread earners of their family. This plan helps your family to live a standard life even when you are not around. This plan also ensures financial stability for your family. As per section 80C and section 10 (10D) of Income Tax Act 1961, you are eligible for some tax benefits. According to Insurance Regulatory and Development Authority Claim Settlement Ratio 2016 - 2017, the claim settlement ratio of HDFC Life is 97.62%. So HDFC Life Click 2 Protect Plus Plan is an ideal plan if you want to protect your family from all the uncertainties in your absence.

Check out various features of HDFC Life Click 2 Protect Plus Plan:

1. HDFC Life Click 2 Protect Plus Plan provides financial assistance to you and your family in case of any uncertainty.
2. This plan provides you complete coverage at a reasonable cost.
3. This plan provides you with many cover options including life option, income option, extra life option, and income plus option. You can choose any option as per your requirement.

• Life option provides a death benefit.
• Extra life option provides a death benefit and accidental death benefit.
• In income option, 10% of the death benefit is provided as a lump sum and 90% of the death benefit is provided in the form of income paid on monthly basis over a term of 15 years.
• On the death of the insured, 100% sum assured is paid in income plus option. In addition to this, 0.5% of sum assured is paid in the form of monthly income for a term of 10 years. The income which is paid on monthly basis can increase at a simple interest rate of 10% p.a. as selected by the insured.

4. HDFC Life Click 2 Protect Plus Plan provides you flexibility for the payment of the premium amount. There are various premium payment options available in the plan including limited, single, and regular; you can select any as per your comfort. Annual, half-yearly, quarterly, and monthly are the premium payment frequencies.

• In limited pay, you pay the premium for the policy term chosen by you less 5 years.
• In limited pay, you pay the amount of premium just once.
• In regular pay, you pay the amount of premium throughout the term of the policy.

5. Under life option, there is a life stage protection feature available. This feature provides you an opportunity to get your life insurance cover increased on some milestones of your life without providing medicals.
6. The insurance cover is provided up to the age of 75 years.
7. You are eligible for various tax benefits according to the prevailing tax laws.
8. For non-tobacco users, HDFC Life Click 2 Protect Plus Plan has attractive rates of premium.

Benefits available under HDFC Life Click 2 Protect Plus Plan:

• Death benefit: The insurance company provides the death benefit to the family or nominees of insured in case of unfortunate death of the insured. The death benefit is provided as:
• In case of single premium policy: Sum assured or 125% of the single premium, whichever is highest is paid.
• In case of policy other than single premium policy: Sum assured or 10 times the annualised premium or 105% of the total premium amount paid as on the date of death, whichever is highest is paid.
• Life stage protection: Under life option, there is one feature available as life stage protection. This feature lets you increase your life coverage when you achieve various milestones in your life. You can increase your sum assured due to which the future premiums also increase. You can also reduce the additional cover at a later stage due to which the future premiums decrease.
• Maturity benefit: No benefit is provided in HDFC Life Click 2 Protect Plus Plan when the insured survives till the tenure of the policy.

Other important information:

Check out other important information that you must know about HDFC Life Click 2 Protect Plus Plan:

• Eligibility Criteria: The minimum eligibility age required to buy HDFC Life Click 2 Protect Plus Plan is 18 years. The maximum eligibility age required to buy this plan is 65 years.
• Maturity age: The maximum maturity age is 75 years which means the insurance cover is provided up to the age of 75 years.
• Policy term: The policy term for HDFC Life Click 2 Protect Plus Plan is 10 - 40 years. You can choose as per your requirement by keeping the maximum maturity age in mind.
• Sum assured: The sum assured depends on the age, plan option, and gender. The minimum sum assured is Rs. 25,00,000. The maximum sum assured has no limit.
• Premium payment options: The best thing about HDFC Click 2 Protect Plus Plan is that it provides the flexibility to the insured to pay the premium. The insured can pay the premium in single pay, limited pay, or regular pay.

6. Premium frequencies: The various premium payment frequencies that are available in the plan are monthly, quarterly, half-yearly, and annual; you can select any as per your convenience.
7. Premium limit: The minimum annualised premium is Rs. 3,000. The maximum premium has no limit. Check out modal conversion factors that will be applicable for various frequencies:

Frequency	Conversion Factor
Monthly	0.0875
Quarterly	0.2600
Half-yearly	0.5100
Annual	1.0000

 

Conclusion:

A term insurance plan is a life insurance plan. The death benefit is provided in a term plan. The family or nominees are provided with death benefit when the insured dies before the term of the policy. No benefit is provided when insured survives till the policy term in case of a term plan. Many term plans from different insurance companies are present in the Indian market. You should select a plan after doing a lot of research and comparison. There are various tools available online that can help you to compare plans and select the best one. If you are the sole earner of your family then it is important that you buy the best term plan. You should not completely rely on agents as sometimes they try to missell the plans in order to earn the higher commission. HDFC Click 2 Protect Plus Plan is one of the best term plans in the market with a wide range of cover options. The claim settlement ratio of HDFC Life insurance company is 97.62% as per Insurance Regulatory and Development Authority Claim Settlement Ratio 2016 - 2017.

Life option, income option, extra life option, and income plus option are the various cover options available in the plan. You can choose the cover option as per your requirement. Life option provides a death benefit. Death benefit and accidental death benefit are provided in extra life option. 10% of the death benefit is provided as a lump sum and 90% of the death benefit is paid as monthly income over a term of 15 years in income option. In income plus option, 100% sum assured is paid on the death of the policyholder. 0.5% of sum assured is also paid in income plus option as monthly income for a term of 10 years. HDFC Click 2 Protect Plus Plan provides you flexibility for the payment of premium. Single pay, regular pay, and limited pay are the various options available for the payment of the premium amount. Monthly, quarterly, half-yearly, and annual are the various premium payment frequencies; you can select any as per your suitability. The minimum annualised premium is Rs. 3,000. There is no limit for the maximum premium.

The minimum eligibility age for HDFC Click 2 Protect Plus Plan is 18 years. The maximum eligibility age for this plan is 65 years. The maximum maturity age for this plan is 75 years. The sum assured depends on the age, plan option, and gender. The minimum sum assured is Rs. 25,00,000 while there is no limit for the maximum sum assured. The policy term of this plan is 10 - 40 years. You can choose as per your requirement. Life stage protection and death benefit are some of the benefits provided under HDFC Click 2 Protect Plus Plan. The insurance company provides the death benefit to the beneficiary of the policyholder on the unfortunate death of the policyholder. Life stage protection is a feature available under life option. With this feature, policyholders can increase the life coverage on the achievement of certain milestones in their life. With the help of this feature sum assured can be increased and additional cover can also be reduced later. Under section 80C and section 10 (10D) of Income Tax Act 1961, you are eligible for various tax benefits on the premium paid and benefits received.

If you are looking for answers to various questions including:

• What is a term insurance plan?
• Why I should buy HDFC Click 2 Protect Plus Plan?
• What is the claim settlement ratio of HDFC Life?
• What are the features of HDFC Click 2 Protect Plus Plan?
• What are the benefits of HDFC Click 2 Protect Plus Plan?
• How death benefit is provided in case of single premium policies and other policies other than single premium policies?
• What is the life stage protection feature available under life option?
• What is the eligibility age for buying HDFC Click 2 Protect Plus Plan?
• What are the various modes of premium payment available in HDFC Click 2 Protect Plus Plan?
• What is the policy term for HDFC Click 2 Protect Plus Plan?
• What is the minimum and maximum sum assured in HDFC Click 2 Protect Plus Plan?

Then you are at the right place; please do scroll up the page to get answers to all of your questions.

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