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HDFC Life Click 2 Protect 3D Plus, HDFC Life Click2Protect 3D plus provides you with 9 plan options, Benefits

December 02, 2016 2258
 

Life insurance policies are divided into two main categories, namely whole life insurance and term insurance.While the former has generally been a popular choice among people, the latter is gaining momentum in recent times.

So, what is term insurance? It is the kind of life insurance that gives you coverage for a specified period. If you, as the insured, pass away while the policy is active, the nominee will receive the death benefit. However, if you outlive the tenure of your policy, you shall not receive any death benefit on the same.

An insurance plan acts as an income substitute in your absence. Therefore, before you buy term insurance, make sure you create an estimate of your financial liabilities like household expenses, children's education, parent's medical check-ups, family weddings, retirement expenses, etc. Compare these expenses to your savings and understand where you are falling short. Only then will you be able to select a plan that may fill the gap between your expenses and savings effectively while not burning a hole in your pocket.

Many people tend to rush and, thus, make mistakes while selecting a term plan. However, it is important to choose a plan wisely. A few mistakes to avoid while buying a term plan are:

Selecting a shorter tenure
Many a times, in the pursuit of saving money and paying lesser premiums, people buy term insurance for a short period. Thus, instead of benefits, they may incur losses. Understand that term policy is for protection and it offers nothing if you outlive your policy's maturity.

Insufficient cover
A term policy should ideally be ten times as much as your current income. This may seem like a huge amount, and, therefore, people buy term insurance with coverage that is too little to sustain their family's needs in their absence.

Not comparing
Since there are so many players in the insurance market that offer competitive benefits, it would be wise to do a thorough market analysis before you finalize a policy. Many a times, people don't compare before they buy term insurance and end up regretting their decision. 

Not making use of the Internet
Today, with the Internet, it is quite easy to compare term insurance online and make an informed decision. term insurance online these days has become as easy as the click of a button.

Remember, when you buy term insurance , never compromise on its benefits in the pursuit of saving a few bucks. After all, your family's future is at stake. If you are looking for the best plan, check HDFC Life Click2Protect 3D Plus plan, which comes with nine different cover options and a variety of benefits to safeguard the future of your family.

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HDFC Life Insurance Company Limited. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.

Registered Office: Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Email: [email protected], Tel No: 1800-266-9777 (10 am to 7 pm). The name/letters “HDFC” in the name/logo of the company belongs to Housing Development Finance Corporation Limited (“HDFC Limited”) and is used by HDFC Life under an agreement entered into with HDFC Limited.

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