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HDFC Online Term Policy: HDFC Click 2 Protect

HDFC Online Term Policy: HDFC Click 2 Protect

HDFC Click2 Protect is a unique online term insurance policy from HDFC Life Insurance Company. In terms of its uniqueness which this particular policy offers is the Life stage feature. This is add on feature which available to any policy holder who has opted for a Life option in the policy with all the other benefits which most of the online term insurance plans provide.

What is a Life stage cover?

Life stage cover is an extra cover which any existing policy holder with Life option can opt for without getting into the hassles of getting a medical test and other problems which people have face when while buying a higher cover to suite current needs.

Seems bit confusing ……let us explain you more

When we plan for our finance we generally consider the current financial status to decide upon our financial goals, the idea is good it can have lot of other hassles. If we don’t review this plan every year keeping into consideration the rising cost of living and our financial position you might end up creating a mess and money that you might have saved for certain goals might not be enough to meet at a future date. The same rule applies to your insurance planning too. As we pass through different stages of life you need to insurance cover increase because of rising financial liability .In a situation like this if you buy new term insurance policy online you might end paying not only more but also the hassles are many. Life stage protection is a feature where you can increase your insurance cover in the existing policy without getting into other hassles.

See the below table to under:

Events of life

Additional Sum assured you can opt

( As a percentage of existing)

Marriage 50% increase
Birth of 1st child  25% increase
Birth of 2nd child 25% increase

Other features of the policy:

  1. You can opt for buying this policy even at the age of 18 years. Lower your age the lowest amount of premium that you would pay.
  2. Maximum maturity age is 75 years whereas in other products it is mostly 65 which means that you always have the cover when you actually need it,
  3. You have three premium paying option which makes it an effective product to look into. You can have single, regular and limited pay options.
  4. The lowest cover that you can opt in this policy is Rs.25,00,000
  5. The policy offers four types of cover options : Life ,Extra life , Income and Income plus options but from insurance perspective Life is the most effective option if you are just looking for insurance.

 

              Plan                   Options                                  

Cover
Life Option Death Benefit
Extra life option Death Benefit + Accidental Death Benefit
Income option Part of the Death benefit as a Lump sum with the remaining payable in form ofMonthly income over a period of 15 years.
Income plus option 100% of Sum Assured is paid on death and a monthly income equal to 0.5% of Sum Assured becomes payable for a period of 10  years. The monthly income can be level or increasing at 10% p.a. as chosen by the policyholder

Death benefit:  As term insurance policies are always meant for helping you family when you are not there so features associated with death benefit become very pertinent part of any policy. It decides what your family would get as financial help when you are not there to take care of things.

The benefit under HDFC Click2protect depend on the type of premium paying option that you selected.

Single Premium policies Other than Single premium

Highest of the below :

  • 125% single premium
  • Sum Assured

Highest of:

  • 10% times of annualized premium
  • 105% of all premiums paid as on date of death
  • Sum Assured

HDFC click2protect unique value in the online term insurance space make it effective for all types of financial needs but it is always advised to do a online comparison before you jump into decision. You can use the myinsurancebazaar.com Term Insurance premium calculator to make effective financial decisions.

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