HDFC Life Click 2 Protect Plus is a term insurance plan in India which provides you comprehensive protection at an affordable price and helps you to protect yourself and your loved ones against the uncertainties that life may throw at you. This term life insurance policy provides wide range of cover options and you can choose the cover depending on your need. You can even secure your family’s day to day requirements when you are not around by way of monthly income under Income & Income Plus Option.
Why you need this Plan ?
- Ensure financial stability for your loved ones forever
- Maintain your family’s standard of living even in your absence
- Provide complete protection to your dear ones at an affordable price
PROTECT YOUR LOVED ONES WITH LIFE INSURANCE COVER IN A FEW SIMPLE STEPS
Explore HDFC Life Click 2 Protect Plus
Features 
Benefits Available Under HDFC Life Click 2 Protect plus
Death Benefit - Death Benefit under the plan is:
- For Single Premium Policy: Higher of :
- 125% of Single Premium
- Sum Assured
- For Regular Premium Policy: Higher of :
- 10 times the annualized premium
- 105% of the total premiums paid as on date of death
- Sum Assured
Life Option - Death Benefit shall be payable in the form of a lump sum upon death
Extra Life Option (Accidental Death Benefit) - Death Benefit shall be payable in the form of a lump sum and an additional benefit equal to the Sum Assured shall be payable in case of accidental death.
Income option Under Income Option, the Death Benefit is paid in the following manner:
a. 10% of the Death Benefit paid as a lump sum upon death
b. Remaining 90% of the Death Benefit shall be paid as monthly income over next 15 years (0.5% of Death Benefit every month for 15 years)
Income plus option Under Income Plus Option, the Death Benefit is paid in the following manner:
a. 100% of the Death Benefit shall be paid as a lump sum upon death
b. In addition, a monthly income equal to 0.5% of the Sum Assured shall be payable for a period of 10 years. The monthly income can be level or increasing at a simple rate of 10% p.a. as chosen by the policyholder.
| Eligibility Criteria | Life Option | Extra Life Option | Income Option | Income Plus Option |
| Min Age at Entry | 18 Years | ||||
| Max Age at Entry | 65 years | ||||
| Min Policy Term | 5 years | 10 years | |||
| Max Policy Term | (85 years - Age at Entry) | 40 years | |||
| Premium Payment Mode | Single Pay, | ||||
| Premium Payment Frequency | Single, Annual, Half yearly, Quarterly, Monthly | ||||
| Min Age at Maturity | 23 years | ||||
| Max Age at Maturity | 85 years | 75 years | |||
| Minimum Basic Sum Assured | Rs. 25 Lakhs | ||||
| Maximum Basic Sum Assured | There is no limit on maximum sum Assured, subject to satisfactory underwriting | ||||
#Regular pay means when premium paying term is equal to policy term
*Limited pay means when premium paying term is less than policy term
*Limited pay means when premium paying term is less than policy term
Age has to be taken as of "last birthday" basis
For more details on risk factors, terms and conditions, please read the Product Brochure carefully and/or consult Financial Consultant before taking a decision
For more details on risk factors, terms and conditions, please read the Product Brochure carefully and/or consult Financial Consultant before taking a decision
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4 simple steps to reduce the premiums for term plan
A great way of looking at a term life insurance plan is to consider it as an expense on the financial safety of your family, and thereby, make it a part of the household budget. That way, you could actually consider ways to reduce its cost without compromising on the quality of the safety net it provides to your family. Here is how you can lower the premium of your term plan even as you enjoy the best life insurance coverage.
Buy early in lifeLife insurance companies decide the premium rate for a term plan on the basis of their risk perception of the person whose life they will insure. For instance, the mortality rate for a 20-year-old would be considered lower than someone aged 30. So, greater the age of the person to be insured, greater the risk for the insurance company of a death during the term and a claim, and thus, higher premiums. Therefore, if you take a policy early in your life, you get to pay a lower premium. Also, once you have bought a policy, the premium rate usually does not change over the policy term. So, if you buy a policy early in your life, you enjoy the benefit of the lower premium till the end of the policy term. There are also some flexible term plans, which offer enhancement of cover at various life stages, such as wedding and parenthood. These are very suitable if you take them early on in life, as you would enjoy lower premiums, while also have the option to increase the sum assured whenever the situation demands.
Stay healthy and benefit from lower premiumsThe more healthy and physically fit a person is; the lesser is his likelihood of his dying early, and hence, a lower probability of the insurance companies charging extra premium. Elsewhere, if a person has a history of diseases or is unfit, then the insurance company could charge extra premium. Unhealthy habits like smoking and alcohol consumption also lead to extra premium charges.
Buy onlineWhen you buy a policy online, it saves the marketing and distribution cost for the insurance company. Besides, there are other cost savings as well. Since all the personal information of the customer and other data is entered by the customer digitally and is downloaded directly by the underwriting team, it saves a lot of policy administration and operational efforts. Digital transfer of data also ensures more correct data being entered in the system in the first attempt itself, thereby reducing the cost of errors due to handwritten data interpretation and manual system entry from a paper application form. Whatever cost the insurance company saves on these overheads (courtesy an online purchase by the customer), it passes the same to the customer by way of lower premiums on online term plans
Opt for an annual mode of paymentTo provide flexibility in payment, insurance companies offer many options, such as annual, quarterly and monthly premium payment options, too. But, do note that an annual mode of payment will be less expensive than either of these three. So, if annual payment is not too big a constraint, go for it. Term plans provide high life insurance coverage at very affordable premiums. You can drive home the advantage of low premiums further with the four steps we have suggested. The money saved can then be smartly invested for growth along with other investments, to help your family fulfill all its dreams.
How to find out life insurance cover your family truly needs
One of the many dangers of having no or less-than-adequate life insurance is that, in your absence, your family members and dependants could struggle to meet current expenses and future needs. Therefore, it is necessary to find out the right life insurance amount so that your family continues to lead a normal life even when you are not there.
Why you need to find out your “Human Life Value”? Your family is dependent on your earnings to take care of its daily expenses and to accomplish its future goals, such as buying a house, children’s higher education, wedding and spouse’s welfare after retirement. If you take the present or today’s value of all the future earnings throughout your work life which you would contribute to your family, it would give you an amount that could take care of the family in your absence. This is your Human Life Value. This is the basic life insurance your family needs to maintain its current lifestyle and fulfil all life goals in your absence. There are many websites with calculators that could help you arrive at this value. A quick way to get a ballpark estimate of the amount is to take your annual expense amount and multiply it with number of years left of your work life. For instance, if your annual expense is Rs 5 lakh and the number of years of work life remaining is 20 years, you would need Rs 1 crore as base insurance cover amount.
Consider number of dependants The more dependants you have, say, spouse, children, parents, siblings and in-laws, higher the life insurance you would need to make provision for their sustenance. For your spouse, you would have to make a provision till the end of your work life as well as for the duration of retired life. As a rule of thumb, this provision can be 10 times your annual expense. For those who are completely dependent and partially-dependent on your income, can make this provision at 5 times and 2.5 times your annual expenses, respectively.
Figure out the amount needed for future life goals There are many life goals, such as children’s higher education and wedding, for which you need to invest regularly. Though the basic cover amount would help your family meet regular expenses of all the dependants, including your children till the time they get independent, expenses like higher education and wedding is typically borne by parents. You will also need to make provisions for these future expenses in your life insurance cover, to secure the future of your family members such as your children.
Factor in all your obligations When you start acquiring various assets, you also take up loans, such as home, auto and personal loans. In your absence, it would be difficult for your family to clear these obligations and might even have dip into your existing savings. If you add the outstanding loan amounts to your desired insurance cover amount, it would become sufficient to protect your family from all financial obligations.
Periodically review life insurance coverage While the approach we have just described helps you arrive at the right life insurance amount you need, this requirement keeps changing over time. This means you need to periodically review the adequacy of the life insurance coverage. Based on growth of your income, lifestyle changes, assets accumulated, besides life milestones like parenthood, your insurance coverage requirement can increase or decrease. When you have less assets i.e. investments that can create income in the future, you need more life insurance. Similarly, as the number of dependants or your income increases, you need a larger insurance cover. Flexible term life insurance plans are available, which provide high life covers at affordable premiums and allow you to increase your life cover after milestones like birth of a child, and decrease it after accumulation of ample assets or fulfilment of major responsibilities like child’s higher education.
To conclude, arriving at the life insurance amount requires you to take into account a host of financial factors related to your present and future. What’s more, it calls for periodic reviews on the adequacy of the amount. That’s a small ask for providing financial protection to your family.
Widen your risk cover by attaching riders
When you buy a term plan, you provide a basic protection cover to your family against any threat to your life; and the insurance company pays the sum assured to your nominee in the event of your death. But besides life, there are many other risks that loom over your family and threaten their future. This includes risks to your income and health. While it’s impossible to cover each of these risks, the good news is that you can cover some of the major ones through riders that can be attached with a term plan. By buying them, you widen the financial security net for your family.
Life cover provides the basic sum assured to your nominee in the event of your untimely demise. But what if you are rendered incapacitated as a result of an accident or illness, and your earning capability is grossly hampered. Not only will your family have to undergo great hardship for your treatment, they will also have to manage the regular expenses. At such a circumstance life cover doesn’t help. Put simply, if you were to be incapacitated but alive, your family would need financial support in terms of replacement of your income, something which a life insurance policy would not offer.
Many insurance companies offer various riders, which are tailor-made to cover specific kinds of risks. Once the eventuality covered by the rider occurs, the benefits are paid. The most important and common riders available with a term plan are: critical illness benefit, accidental death benefit, accidental disability benefit and waiver of premium. For instance, if you meet with an accident, the treatment and rehabilitation would involve huge costs, which can suck up all the savings of your family. The family member might even be forced to borrow.
In case even after all the treatment they are not able to save you, the life cover may well fall short to cover your family’s regular expenses. In case of permanent disability, it might be very difficult for you to be gainfully employed and support your family financially. Again, your family will have to bear hardships. But with riders, such as accidental death benefit and disability benefit, your family gets an additional sum, say in the case of death due to accident, and a steady stream of income for a long period, respectively.
Unlike a regular health insurance plan which only reimburses or supports the treatment cost of the insured person, a rider—once triggered—gives a committed payout for the given conditions. This is helpful in the event of a disability or critical illness, where you not only need a lot of money for treatment, but also for taking care of the family expenses. Therefore, a benefit that pays you a large sum under few conditions through riders will immensely help your family cope up in adverse conditions and ensure that the progress to their dreams is not irreparably damaged.
We are aware that among various types of life insurance plans, term plans provide the highest life insurance coverage at the most affordable premiums. Riders further add to the advantage since they cover other risks at nominal costs. In effect, what this does is it ensures that a wide range of risks get covered with you not having to dig deep in your pockets.
Calamity typically doesn’t strike with a warning. A wide risk coverage consisting of a life cover from a term plan and riders makes sure that you can reclaim your life after a disaster and the momentum in your journey to your dreams.
We offer riders for such events
HDFC Life Critical illness plus rider
HDFC Life Critical Illness Plus Rider offers a lump sum benefit equal to the sum insured, if the life assured survives for a period of 30 days following the diagnosis of any of the specified 19 critical illnesses.
HDFC Life Income Benefit on Accidential Disability Rider
HDFC Life Income Benefit on Accidental Disability Rider - In the event of total permanent disability due to an accident, you will be paid a regular monthly income equal to 1% of Sum Assured for a fixed period of 10 years.
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Our vision is to provide innovative and customer-centric insurance plans that can help our customers secure their family's future as well as help them with other benefits such as tax savings. Keeping this in mind we offer a large range of life insurance plans such as term insurance plan, women's plan, health insurance plans, pension plans for retirement planning, child education plans, ULIPs, saving and investment plans. Most of these life insurance policies are available online, so buy one today and Sar Utha Ke Jiyo!.
As per regulatory changes, it is mandatory to submit PAN/Form 60 (if PAN is not available) for your policy with immediate effect. Please update via My Account/service@hdfclife.com/18602679999/HDFC Life branch. Ignore if already submitted.
HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.
Registered Office:
HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited),
Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Tel No: (022)67516666.
The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited and is used by HDFC Life under a licence/agreement
For more details on risk factors, associated terms and conditions and exclusions, please read the sales brochure carefully before concluding a sale. ARN: EC/06/2017/9792