Plan Your Child’s Education with HDFC Life Click 2 Achieve​‌

Table of Content

1. How to Structure an Education Goal?

2. Where HDFC Life Click 2 Achieve Can Fit Into the Plan?

3. Illustrative Planning Example

4. Review the HDFC Life Click 2 Achieve Plan

5. FAQs on HDFC Life Click 2 Achieve to plan for child’s education

Early planning of your educational objectives will assist you in coping with increased expenses for your education and inflation. Having a specific time frame will provide you with enough time to save regularly. 

With regular saving and the advantages of compound interest, you will be able to accumulate enough money. It also allows you to assess different funding options and select investments that align with your financial capacity and risk tolerance. 

Additionally, planning can reduce your dependence on education loans and help you manage tuition fees, accommodation, and other related expenses without putting excessive pressure on your finances.

How to Structure an Education Goal?

Education goal setting requires the following structured approach:

1. Establish a target year for retirement

2. Assess your needs in the future

3. Calculate your ability to contribute

4. Decide at what point in time you would like access to the money

5. Update your plan regularly.

Where HDFC Life Click 2 Achieve Can Fit Into the Plan?

The HDFC Life Click 2 Achieve – Smart Student plan can be seen as part of a child-education planning strategy when the policy term, premium payment period and payout structure are in line with the timing of the planned education goal.

The option guarantees income for 3, 4 or 5 years, with payments beginning at age 16 or 18 of the child, subject to the applicable policy terms and payment of all premiums due. The plan also provides life insurance coverage and specific premium waiver benefits.

This supports continued progress toward the planned financial goal during covered contingencies.

Illustrative Planning Example

8-year-old Amit wishes to join one of the best institutions for his education in the future. For that, his father Atul buys the Smart Student policy after selecting an appropriate policy term. Starting from an early age, Atul intends to accumulate funds for his son’s education costs in the future.

Review the HDFC Life Click 2 Achieve Plan

The HDFC Life Click 2 Achieve Smart Student Plan is an individual savings life insurance plan that is not linked or participating. It helps you create a corpus for your child’s education.   

Learn more about the HDFC Life Click 2 Achieve plan and how it will help you meet your child’s education requirements in the future.

FAQs on HDFC Life Click 2 Achieve to plan for child’s education

1. Can I use HDFC Life Click 2 Achieve to plan for my child’s education?

HDFC Life Click 2 Achieve Smart Student option allows you to plan for your child's education. If your chosen policy term and payout structure align with when you expect education expenses to arise, the plan may be worth considering.

2. How should I decide the right payout timing for education costs?

To determine when you would like to receive education cost payments, select the year you expect to incur the costs, estimate the cost you expect to incur, and indicate whether you prefer a lump sum or phased benefit.

3. What should I review before purchasing the plan?

Check your financial goal, time horizon, premium affordability, liquidity needs and policy terms before buying the HDFC Life Click 2 Achieve plan. Always check the Key Features Document (KFD).

4. Is Click 2 Achieve a guaranteed return or market-linked plan?

Yes, Click 2 Achieve is definitely a non-linked, non-participating savings insurance plan. It is suitable for those who prefer their fund’s security and have fixed return of investment options.

5. Where can I check complete documents related to the plan?

You can access the Key Features Document, policy wording and UIN details on the HDFC Life Click 2 Achieve product page to know about the plan details.