HDFC Life Click 2 Protect Elite Pro

“Death Benefit” is payable as a lump sum if life assured dies during the policy term. It is the highest of:

• Basic Sum Assured; or
• 10 times the Annualized Premium; or
• 105% of Total Premiums Paid

Where,

a) Annualized Premium is the premium amount payable in a year chosen by the policyholder, excluding taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

b) Total Premiums Paid are the total of all the premiums received, excluding any extra premium, any rider premium and taxes. Where additional options have been selected, Total Premiums Paid includes premium paid for base option as well as the premium paid for additional options selected.

c) Sum Assured on Death is the absolute amount of benefit which is guaranteed to become payable on death of the life assured in accordance with the terms and conditions of the policy or an absolute amount of benefit which is available to meet the health cover.

d) Basic Sum Assured is the amount of sum assured chosen by the policyholder.

e) Sum Assured on Maturity is the amount which is guaranteed to become payable on maturity of the policy, in accordance with the terms and conditions of the policy.

Sum Assured on Death, up to a maximum of Rs. 2 Cr. will be accelerated in case of diagnosis of terminal illness during the policy term as mentioned below. In case of diagnosis of terminal illness at ages greater than 80 years, death benefit will not be accelerated.

Upon payment of Terminal Illness benefit³:

a) If Death Benefit at the time of claim is equal to Terminal Illness benefit³, the policy will terminate. Or,

b) If Death Benefit at the time of claim is greater than Terminal Illness benefit³, the policy will continue for the balance death benefit. 

Please note that acceleration of death benefit is not an additional benefit; it only facilitates an earlier payment of death benefit on prior diagnosis of terminal illness.

A life assured shall be regarded as terminally ill only if that life assured is diagnosed as suffering from a condition which, in the opinion of two independent medical practitioners’ specializing in treatment of such illness, is highly likely to lead to death within 6 months. The insured must not be receiving any form of treatment other than palliative medication for symptomatic relief. The terminal illness must be diagnosed and confirmed by medical practitioners registered with the Indian Medical Association and approved by the Company. The Company reserves the right for independent assessment.

On survival of the Life Assured till the Maturity Date, subject to Policy being in-force , Sum Assured on Maturity will be payable

Sum Assured on Maturity will be equal to 100% of the Total Premium(s) paid, if ROP Option is selected, NIL otherwise.

Upon the payment of Death or Maturity Benefit , the policy shall terminate and no further benefits will be payable.