As development is increasing, people are exposed to more lifestyle and accidental risks than they were earlier. These risks have made insurance an indispensable purchase to protect one’s loved ones. As one of the strongest market players in the insurance sector, HDFC Life Insurance Company offers a wide range of insurance products to insurance consumers. These  

Among the various plans offered by HDFC Life Insurance, HDFC Click to Protect is one of them. It is a pure term insurance plan that can be purchased online. Under this plan, a lump-sum amount is paid to the beneficiary of the policy, in case of demise of the insured person. With simple eligibility criteria, the plan offers maximum protection to the family of the insured at the most affordable premium rates.

 So, if you really want to know, how good the HDFC Click to Protect Plan is as a term insurance plan, then continue reading further.

 Some of the Salient Features of HDFC Click to Protect Plan are: -

1. The plan provides maximum insurance coverage to the insured at the most affordable premium rates.
2. Under HDFC Click to Protect Plan the insurance buyers have an option to choose between 4 plans.

• Life Option-

Under this option, the policy provides a lump-sum benefit as the death benefit to the beneficiary of the policy, in case of demise of the insured person.

• Extra Life Option-

Under this option, an extra lump-sum benefit is offered to the nominee of the policy, in case of accidental demise of the insured person.

• Income Option-

Within the income option, a part of the sum assured is paid as the death benefit to the beneficiary of the policy in case of death of the insured person, and the remaining amount is paid in monthly instalments for a period of 15 years to the nominee.

• Income Plus Option-

This option includes triple benefits, as the plan provides the sum assured amount as the death benefit to the beneficiary in case of the insured’s demise. Besides this, a regular monthly income in instalments, is paid to the beneficiary over a period of 10 years, which also increases by 10% yearly after the completion of 5 policy year.

• Under the life option, HDFC Click To Protect offers the benefit of life stage protection. It includes features wherein the insurance holder can increase the coverage of the insurance on reaching the major milestones of life.
• Up to 50% of the coverage can be increased, as per the choice of the insured, in case if he/she decides to get married. Similarly, in case of childbirth, up to 25% of the sum assured can be increased by the insured. Moreover, the policyholders have the option to reduce the coverage at a later stage of life, when their children are independent.
• While buying the policy, one can also avail of the accidental disability rider benefit as an add-on coverage to the policy, by paying an extra premium along with the basic premium amount.
• The policy provides an attractive premium rate to non-tobacco users.
• The plan provides tax benefit on the premium paid and on claims under section 80C and 10(10D) of Income Tax Act 1961.

The Eligibility Criteria of HDFC Click to Protect Plan is:-

1. The policy offered at a minimum entry age of 18 years and maximum entry age of 55 years.
2. The tenure of the policy ranges from a minimum 10 years to maximum 30 years.
3. The maturity age of the policy is minimum 28 years and maximum 65 years.
4. The minimum sum assured amount offered by HDFC Click To Protect is Rs. 10, 00,000 whereas the maximum sum assured of the policy is 10,00,00,000.
5. The premium paying tenure of the policy is equal to the policy tenure.
6. The premium payment modes of the policy are monthly, quarterly, half-yearly, yearly and single pay.

Benefits offered by HDFC Click to Protect are: -

Death Benefit-

In case of the demise of the insured person during the tenure of the policy, 125% of the single premium paid or the sum assured, whichever is higher, is paid to the beneficiary of the policy, under single premium mode option.

Under regular or limited premium mode option, 10 times of the yearly premium or 105% of the total premium paid till the time of the death of the insured person, is paid to the nominee of the policy.

As a pure term insurance plan HDFC Click to protect plan does not offer any maturity benefit.

Tax Benefit-

Like the benefits under the Income Plus Option, the plan provides the option to save taxes on the premium paid and the claims received under section 80C and 10(10D) of Income Tax Act 1961.

Other Features of HDFC Click to Protect

Free Look Period-

The policy offers a free-look period of 15 days, under which the policy buyer can cancel the policy, if he/she is not happy with the terms and conditions of the policy.

Grace Period-

The policy offers a grace period of 30 days, under which the insured can clear all the due premiums, if he/she fails to pay the premium within the due date of the policy.

Policy Lapse and Revival-

In case the insured fails to pay the premium within the grace period, then the policy lapses and the benefits of the policy cease.  However, the lapsed policy can be revived by paying the entire outstanding premium and the related charges to the insurer.

Policy status-

As buying a term life insurance plan is very important, it is equally important to keep a proper track of your policy status, so that you don’t miss any premiums and benefits offered by the policy. For the convenience of the customer, the HDFC Click to Protect offers the online facility to check the status of the policy.

The insured can track the policy details and other information related to the policy by logging onto the official website of HDFC life insurance. Moreover, the insured can also know the status of their policy by calling the toll free number of the company and through emails.

In Sum

Although, HDFC Click to Protect is a non-participating term insurance plan the benefits offered by it is ample and surely provides a secured financial future to the family of the insured.