HDFC Life Click 2 Protect Elite is a comprehensive term insurance plan that is specially designed to protect your family in case of uncertainty. This plan provides benefits as per your changing lifestyle and life stage needs. This plan can only be purchased on a single-life basis or a spousal cover could also be opted.Read more
+Tax benefit is subject to changes in tax laws.
++All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
|Plan Options||Minimum limit||Maximum limit|
|Entry Age||18 years||55 years|
|Maturity Age||23 years||60 years|
|Policy Term||5 years||60 years minus entry age|
|Sum Assured||50 Lakhs||No Maximum limit|
|Premium Payment Term||Single Pay Regular Pay Limited Pay (2 years to any premium payment term (PPT) less than Policy term (PT))|
The death benefit is payable as a lump sum payment if the assured dies during the policy term. The death benefit is the highest of:
Sum assured amount on death
105% of total premiums paid
SA on death for Single pay is the highest of:
125% of single premium
Sum assured amount on the maturity
SA on death for Limited and regular pay is the highest of:
10X of the annualized premium
SA on maturity
Sum assured on maturity will be paid upon survival which will be equivalent to 100% of the total amount of premium paid, if a return of premium option is selected.
In this, the policyholder will have to pay an extra amount of premium over and above that is payable for the base term plan, and then he/she will get a 100% return of the total premium paid as a lump sum payment, upon survival till maturity.
This option can only be chosen at the inception of the policy and will only be available where:
Policy term is between 10 to 40 years for single, regular, and 5 pay
Policy term is between 15 to 40 years for 1, 10, and 12 pay.
To opt for this option, an additional premium shall be paid. Once selected, the policyholder does not have the option to opt-out of this ROP benefit.
If this option is chosen, all the future amount of premiums payable under the plan will be waived, if the assured gets diagnosed with any of the covered critical illnesses (60 critical illnesses are covered under this plan) and the term cover continues. This option is chosen at the commencement of the policy.
In case of choosing an accidental option, all future amount of premiums under the plan will be waived, in case of any total and permanent disability and the term cover continues.
Under this option, the nominee/beneficiary will receive complete or part of the death benefit in installments:
The following are the conditions for selecting this option:
This option can only be selected by the life assured at policy commencement or by the beneficiary/nominee during the claim
This option can be opted for complete or part of death claim benefits paid under the plan
The death benefit installments can be availed over a selected time of 5 to 15 years.
The installments shall be allowed to be paid in advance depending on the frequency selected by the policyholder or nominee, which can be either monthly, quarterly, half-yearly, or yearly.
Under this option, in case of death of life assured:
The spouse will receive a death benefit cover equivalent to a selected percentage of the basic sum assured of the life assured for the outstanding policy term.
Any future premium amount, if payable under the plan, shall be waived.
Option to change premium payment frequency
The policy buyer has the option to change the premium payment frequency during the premium payment term.
In this, the policyholder can choose to change the unpaid regular premium amounts to a limited premium term available under the plan.
The policy buyer may opt to enhance the sum assured amount (without underwriting) on any of the following mentioned events in the life assured’s life:
1st marriage: 50% of basic SA, subject to a maximum amount of 50 Lacs
1st child’s birth: 25% of basic SA, subject to a maximum amount of 25 Lacs
2nd child’s birth: 25% of basic SA, subject to a maximum of 25 Lacs
|HDFC Life Critical Illness Plus Rider|
|HDFC Life Income Benefit on Accidental Disability Rider|
|HDFC Life Protect Plus Rider|
Free look period: If the policyholder is not satisfied with any T&Cs of the policy, the policyholder shall have the option to return the plan to the company, mentioning the reasons for the objection, within 15 days (30 days in case plan is purchased through distance marketing mode) from the receipt date of the policy.
Grace Period: It is the time provided after the due date of the premium in which the plan is considered to be active with the risk cover. The policy offers a grace time of 30 days for annually, half-yearly, and quarterly payment frequencies from the premium amount due date. The grace period for monthly payment frequencies is 15 days.
Revival period: You can revive your lapsed plan or paid-up plan in the mentioned revival period. The revival time for regular and limited pay is 5 years as specified by the current policy regulations.
Surrendering of policy: Surrender amount gets immediately acquired upon payment of premium in case of single pay and upon premium payment for 2 years in case of regular and limited pay.
If the policyholder dies because of suicide in 12 months i.e., 1 year from the date of risk commencement under the plan or from the revival date of the policy, the beneficiary/nominee of the life assured shall be eligible for around 80 percent of the full premium amount paid till the death date or surrender value available as on the death date, whichever is maximum, provided the plan is active.
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