HDFC Life Click 2 Protect Elite is a comprehensive term insurance plan that is specially designed to protect your family in case of uncertainty. With this plan, you can receive coverage for the desired policy tenure, or choose to exit the plan early with the plan’s Smart Exit Benefit. Let us take a look at some of the eligibility conditions and benefits offered under the plan.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
|Term Plan Details||Minimum limit||Maximum limit|
|Entry Age||18 years||45 years|
|Maturity Age||33 years||75 years|
|Policy Term||For Limited Pay of 10 years - 15 years
For Limited Pay of 15 years - 20 years
|Sum Assured||Domestic - 2 Crores
NRI - 2.25 Crores
|Premium Payment Term||Limited Pay (10 or 15 years)|
The death benefit is payable as a lump sum payment if the assured dies during the policy term.
SA on death for Limited Pay is the highest of:
10X of the annualized premium
105% of the Total Premiums
Basic Sum Assured
No benefit is payable on the survival of the policy term.
The plan offers term insurance tax benefits as per the prevailing tax laws of the Income Tax Act of 1961.
With the smart exit benefit options, you can exit the plan early (only applicable for policies over 30 years), provided that the policy is in force.
You can easily change the premium payment modes anytime during the premium payment tenure.
Here is a list of the riders available under the HDFC Click 2 Protect Elite Term Plan:
HDFC Life Critical Illness Plus Rider
HDFC Life Income Benefit on Accidental Disability Rider
HDFC Life Protect Plus Rider
Paid-up Value: There is no paid-up benefit available under the plan. In case of non-payment of premiums, the policy will lapse.
Policy Loans: No policy loan facility is available under this term plan.
Unexpired Risk Premium Value: Policy Cancellation Value (PCV) is accumulated immediately after the payment of two policy years. The value will be paid as per the following formula:
PCV Factor x Total Premiums Paid x Unexpired Policy Term / Original Policy Term
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 the 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 limited pay is 5 years as specified by the current policy regulations.
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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