HDFC Life Click 2 Protect Elite

Eligibility Criteria of HDFC Life Click 2 Protect Elite

Benefits of HDFC Life Click 2 Protect Elite Plan

1. Death Benefits

   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

2. Maturity Benefits

   No benefit is payable on the survival of the policy term.

3. Tax Benefits

   The plan offers term insurance tax benefits as per the prevailing tax laws of the Income Tax Act of 1961.

Additional Benefits of HDFC Life Click 2 Protect Elite

1. Smart Exit Benefit

   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. 

2. Change Premium Payment Modes

   You can easily change the premium payment modes anytime during the premium payment tenure.

Riders Available in HDFC Click 2 Protect Elite Plan

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

Policy Details

• 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.

Exclusions

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.