HDFC Life Click 2 Protect Elite Pro

HDFC Life Click 2 Protect Elite Pro- An Overview

HDFC Life Click 2 Protect Elite pro is a non-linked, non-participating, pure risk term insurance plan that comes with a return of premium option. This term insurance offered by HDFC Life Insurance Company provides a death benefit to your nominee if the life insured passes away during the policy term, making sure that they are able to fulfil their dreams even in your absence.

Key Features of HDFC Life Click 2 Protect Elite Pro

The plan comes with several unique key features, such as:

• Smart Exit Benefit where all your will be paid back

• Premium Break Benefit, where you have the option to defer your term insurance premiums by up to 12 months

• Upon survival, you will get all your premiums paid back (minus taxes and other charges) with the Return of Premium option •

• Accelerated instant death benefit of INR 5 Lakhs with Immediate Payout on Claim Intimation

• The plan offers an Acceleration of Death benefit on diagnosis of specified terminal illnesses, till age 80 years

• You have the option to choose Additional cover for Child’s Education under Education Income benefit

• This HDFC Life term insurance plan also offers you an option to choose additional cover for your spouse.

• Immediate Payout on Claim Intimation, which provides an accelerated instant death benefit of Rs 5 Lakhs within one working day of claim registration.

Eligibility Criteria of HDFC Life Click 2 Protect Elite Pro

Benefits of HDFC Click 2 Protect Elite Pro Plan

Below mentioned are the benefits available under the HDFC Click 2 Protect Elite Pro Plan

Death Benefits

In case of the policyholder’s unfortunate death during the policy term, the plan offers a death benefit to the nominee. The death benefit paid is the higher of the

• Sum Assured on Death; or

• 105% of Total Premiums Paid

Where, Sum Assured on Death is the highest of:

• 10 times the Annualized Premium; or

• Basic Sum Assured; or

• Sum Assured on Maturity

Terminal Illness Benefit

In case of diagnosis of terminal illness during the policy term, the sum assured on Death, up to a maximum of Rs. 2 Cr. will be paid in advance. In case the diagnosis happens after the age of 80 years, the death benefit will not be paid.

After the Terminal Illness Benefit is paid:

• If the Terminal Illness Benefit is equal to the death benefit, the policy will end.

• If the death benefit is higher than the Terminal Illness Benefit, the policy will continue for the remaining death benefit.

**Note: Life assured will be treated terminally ill only if two independent medical practitioners specialising in the treatment of that illness confirm that the illness results in death within 6 months.

Maturity Benefit

If the policyholder has selected the Return of Premium option, and he/she survives till the end of the maturity, 100% premiums will be paid.

Premium Break Benefit

The plan offers a premium break benefit where the policyholders can skip the premium payment for up to 12 months. For female life assured, they can defer the premiums for up to 112 months during their pregnancy or after their spouse’s death

The life cover will continue during the period, and the skipped premium needs to be paid later to continue the policy.

Return of Premium (ROP) Option

The plan offers a Return of Premium option, where if the policyholder survives till the end of the policy term, all his total premiums will be returned.

This option must be selected at the time of purchasing a policy, and cannot be added/removed later.

Option to change premium payment frequency

The policyholder can change the premium payment frequency during the premium payment term, subject to the policy's terms and conditions.

Renewal Option at Maturity

The policyholders can extend their policy term under this term insurance plan. The premiums for the extended period will depend on the attained age at the time of renewability and the chosen increase in policy term. The option is available only with the regular pay option when ROP is not selected.

Spouse Cover Option

Under this option, the spouse of the life assured will receive life cover for the remaining policy term following the Life Assured's death. The cover will be a chosen percentage of the Life Assured's basic sum assured, subject to a maximum of 50%. Any future premiums payable will also be waived.

Death Benefit in Instalments

The nominee has the option to choose the payout of the death benefit. They can choose to receive all or part of the death benefit in instalments instead of a lump sum. Payments can be made monthly, quarterly, half-yearly or yearly for a period of 5 to 15 years.

Life Stage Option

With the Life Stage Option, the policyholder can increase the sum assured after certain major life events such as marriage, the birth of a child or taking a home loan. With this option, they can increase their sum assured without fresh underwriting.

The increase allowed is:

• First marriage: 50% of the basic sum assured, up to ₹50 lakh

• Birth of the first child: 25% of the basic sum assured, up to ₹25 lakh

• Birth of the second child: 25% of the basic sum assured, up to ₹25 lakh

• Home loan: 50% of the basic sum assured, up to ₹50 lakh

The option must be selected at policy inception. It is available if the Life Assured is below 45 years at the time of the event and meets the applicable conditions.

It must be exercised within six months of the event, once per event, with at least a one-year gap between increases. An additional premium applies.

Smart Exit Benefit

The policyholder has the option to receive the Smart Exit Benefit, which is equal to the total premiums paid under the policy. The benefit can be availed only after completing more than 25 policy years. This option can be exercised only when the policy is in force, and not during the last 5 policy years.

**This option is not available if ROP is selected.

Education Income Benefit

On the Life Assured’s death, the beneficiary child will receive regular annual payouts to support the education expenses. The total benefit will be 10% of the sum assured, up to Rs. 10 Lakhs. The benefit will be paid until the policy term ends or the child turns 25, whichever is earlier.

The benefit paid is available for only one child, and if the child is a minor, the payout will be paid to the appointed person on the child's behalf.

Health Management & Well-being Services

The Life Assured can access various health management and well-being services up to Rs. 63.000 through the Life Rewards app at no additional cost. Services may support prevention, diagnosis, treatment and recovery and are provided by third-party service providers, subject to availability and eligibility.

Riders Available with HDFC Life Click 2 Protect Elite Pro

• HDFC Life Income Benefit on Accidental Disability Rider
  In case the life assured suffers an Accidental Total Permanent Disability, this rider provides a monthly benefit equal to 1% of the Rider Sum Assured for 10 years. No maturity benefit is payable under this rider.

• HDFC Life Protect Plus Rider
  This rider provides a benefit in case of accidental death, partial or total disability due to an accident or cancer, depending on the option selected. No maturity benefit is payable under this rider

• HDFC Life Health Plus Rider
  This rider provides a lump sum benefit equal to the Rider Sum Assured on diagnosis of any of the covered 60 critical illnesses. Benefits for Early-Stage Cancer or Major Cancer are payable depending on the option selected.

• HDFC Life Waiver of Premium Rider
  This rider waives the outstanding premiums of the base policy and attached riders if the Life Assured dies or is diagnosed with a covered disability or any of the covered 60 Critical Illnesses.

• HDFC Life LiveWell Rider
  This rider offers benefits for events such as death, terminal illness, accidental death, hospitalisation, disability and listed surgeries, depending on the option selected. It may also waive future premiums on death or terminal illness of the Life Assured.

Exclusions Under HDFC Life Click 2 Protect Elite Pro

• Suicide: If the life assured dies by suicide within the 12 months of the policy’s risk commencement date or revival date, the nominee will receive at leat 80% of the total premiums paid up to the date of death or the applicable surrender value, whichever is higher.

• Incorrect Age: The policy premium is calculated based on the Life Assured's age stated in the proposal form. If the actual age is later found to be different, the insurer may revise the premium or offer an alternative plan, depending on whether the Life Assured remains eligible for the policy.