HDFC Life’s Click2Protect Plus is an Online Term Insurance Product. The main feature of this plan is to provide financial protection for you and your family. It has unique features which are not available in most of the online term insurance plans. Let us understand its features and benefits.
Eligibility conditions of Click 2 Protect Plus are:
This term policy provides you with four cover options:
1) Life Option (Death Benefit under this plan)
In the unfortunate event of death of the life assured during the policy term, the nominee will receive the death benefit as below. (Death benefit is called as ‘Life Option’ under this plan).
Let us now understand the very unique features of Click2Protect Plus plan.
2) Extra Life Option
If the policyholder chooses this option then the Death Benefit as specified above 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.
3) Income Option
If the policyholder chooses this option then the Death Benefit as specified above is paid to the nominee in the following manner:
4) Income Plus Option
If the policyholder chooses this option then the Death Benefit as specified above is paid to the nominee in the following manner:
Different Scenarios with examples:
Let us understand these options with examples.
Case 1 – Mr Rahul (30 years of age) buys this plan with a Sum Assured of Rs 1 crore. He has opted for Life option only. Unfortunately he dies in an accident. What is the death benefit ?
In this case, his nominee will get Rs 1 crore as the death benefit.
Case 2 – Mr Rahul (30 years of age) buys this plan with a Sum Assured of Rs 1 crore. He has opted for Life option and Extra Life Option. Unfortunately he dies in an accident. What is the death benefit ?
In this case, his nominee will get death benefit of Rs 2 crore. If death happens due to any other reason then his nominee would get Rs 1 crore only.
Case 3 – Mr Raj (28 years of age) buys this plan with a Sum Assured of Rs 1 crore. He has opted for Income option of the plan. Unfortunately he dies due to heart attack . What is the death benefit in this case?
In this case, his nominee will immediately get Rs 10 Lakh as lump sum payment. And the remaining Rs 90 Lakh is paid as monthly income for the next 15 years. The equal monthly payment is Rs 50,000.
Case 4 – Mr Raj (28 years of age) buys this plan with a Sum Assured of Rs 1 crore. He has opted for Income Plus option of the plan. He has also opted for ‘equal monthly income’ option under Income Plus. Unfortunately he dies due to heart attack . What is the death benefit in this case?
In this case, his nominee will immediately get Rs 1 crore lump sum payment. In addition to this, the equal monthly payment of Rs 50,000 pm is also paid for next 10 years.
Case 5 – Mr Ram (28 years of age) buys this plan with a Sum Assured of Rs 1 crore. He has opted for Income Plus option of the plan. He has also opted for ‘increasing monthly income’ option under Income Plus. Unfortunately he dies due to illness . What is the death benefit in this case?
In this case, his nominee will immediately get Rs 1 crore as lump sum. Also, the monthly payment of Rs 50,000 pm is paid in the first year. The monthly income increases at the rate of 10% pa for the next 10 years.
This plan has another unique feature.
The proposer can choose the Life stage Protection option under Life option upon payment of an additional premium. The sum assured amount will be increased on the occurrence of key events in your life. The premiums will be recalculated based on your increased sum assured and outstanding policy term.No additional Medical tests are required.
This feature will be available only for a six month period from the date of the event and provided the insured person is less than 45 years of age at the time of opting for this feature.This feature is available only for regular premium paying policies and not for limited premium paying or single premium policies.
There is also an option to ‘Reduce the Additional Sum Assured” which the policyholder had opted under life stage protection. With age as your income is on a rise and as your children become independent, you may realize that you don’t need additional Insurance cover anymore. This plans offers the flexibility to reduce the additional insurance cover after attaining the age of 45 years. Your Sum Assured will be reset to the original Sum Assured at inception. Your premium will be recalculated based on revised sum assured for the remainder of the premium paying term.
Mr Praful (26 years old) buys HDFC Life Click 2 Protect Plus with Sum Assured of Rs.1 Cr. The policy term is 35 years.He gets married in his 28th year. He opts for the Life Stage Protection Option. He becomes a father after 2 years of marriage and opts to increase his cover. In his 55th year, he decides to reduce the additional sum assured.
Indicative Premium quotations with different combinations
Important points to ponder upon
Overall HDFC Life’s Click2Protect Plus is a good product. You may consider buying the plan with Life option (or) Income plus options.
Latest Update :
You may like reading below articles:
This post was last modified on July 10, 2023 11:31 am
Retirement planning in India is often misunderstood. Many people think any long-term savings or investment…
You’ve probably seen the same property quoted at different prices. One person says ₹60 lakh,…
Buying insurance is easy. Getting your claim settled—that’s where the real test begins. For any…
Gifting immovable property—like land, plots, or houses—is super common in India. Families often do it…
Most people believe that investing alone is enough to create wealth. But in reality, many…
When you invest your hard-earned money, there’s one question that often gets overlooked: “Will I…
This website uses cookies.
View Comments
Hi Sreekanth,
I want to take a term plan for maximum possible years. I am 32 years old and want to go for 1 Cr. Kindly guide me as per your experience which company is better in all terms ?
Thanks!
Manish
Dear Manish,
Kindly read my article on Best Term insurance plans .
Hi,
I wish to take Term Insurance.
I have two options HDFC or LIC.
Whats your suggestion
Both are good dear Ramkumar ..You may pick any one.
Hi sreekanth
I am looking for your advice on buying a term insurance.
I am 35 year old Male. non smoker ..non tobacco user.....want to go for 50L term insurance plan for 35 years.......i have shortlisted max india, aegon religare and hdfc.........And mostly will be going for aegon religare as i have heard that aegons customer service is very good and hdfc s cust service is very bad....But the only concern which is bothering me is that aegon religare has low claim settlement ratio......so do respond me as to which term plan should i go for........One thing i think is that if i give all the correct information to the policy taker ....the claim could not get rejected..
Plzzz reply to me as to which companys policy should i go for.
Waiting for your response.
Thanks,
Jignesh
Dear Jignesh,
If you are comfortable with Aegon (affordability + good customer service), kindly go ahead and buy a term plan from them.
As opined by you, just disclose all the required information accurately and honestly.
Hi ,
But what would be your suggestion....should i go for aegon religare?...FOR which insurance company u would go for?......or should i take 2 policies for 25L....one with aegon and other with hdfc
Dear Jignesh,
One policy is enough. Given a choice, I will buy my term plan from HDFC (if choice is Aegon/hdfc).
Hi ,
If choice is not from aegon and hdfc....but all the other companies , for which one you would go for......
Dear Jignesh..my requirements would be totally different to yours.
Hi Sreekanth
I am looking for your advice on buying a term insurance.
I am 39 year old Male. Looking for good insurance policy for 1Cr with better benefits and better premium.
Is there any policy which doesn't required medical tests as well?
Will wait for your response.
Thanks & Regards
Radhakrishna Reddy
+91-81055 440**
Dear Radhakrishna,
It is always better to take a term plan which has medical tests requirements clause. Kindly go through my article : Best online term insurance plans.
Exactly I want to underrstnad, what is covered in Death Benefit:
Plan Option Cover
Life Option Death Benefit
Suppose, If death is via any disease, will the nominee get the money.
If via accident, will the nominee get the money.
If death via natural calamities, like earthquake etc, will the nominee get the money.
Please let me know, as I am looking to take final the plan.
Hi ,
I want to take a term plan from HDFC click2protect -Life Option of about 50Lac, My query is,
1. Can I claim only if the death is by Accident.
2. Can I claim if death is by Illness or Sucide.
Dear Krishna,
You can not claim, you nominee can claim.
1 - Yes.
2 - Yes. But kindly go through the suicide clause.
Hi Sreekanth,
Thank you so much for such wonderful article. I decided to opt for Term plan against to traditional insurance plans after reading your various articles like" What not to invest" " Financial planning" .
I purchased HDFC life's click to protect plus today . I opted for Life option + accident disability rider (by paying extra premium). This facility "Accident disability rider is a very good option and ICICI is not providing this. This is the only reason I opted for "click 2 protect plus". I think you should add this point in your article (last column)
Shall shortly send comments on my financial planning and how your articles changed my life. I have become a big fan of yours...Kindly continue writing such articles .
Regards
Mahesh prasd
Wow! I am very happy to read your comments dear Mahesh. Thank you for your kind words.
I recently published an article on Personal Accident Plans, you may go through it.
hi Sreekant, my daughter is 27, a lawyer, working in a prestigious law firm, interested in buying online term plan. Edelwiess Tokio offers her a term plan for 52 yrs term at Rs. 9225/- per annum. But i'm not sure of their service/claim settlement. what would you suggest?
Dear S M G,
It's relatively a new insurance company. But, that should be ok. Kindly disclose all the required information in the proposal form honestly and accurately. Also, policy tenure can be selected till the expected retirement age .
(If she doesn't have any dependents or any financial commitments/liabilities, term insurance may not be required as of now.)
Hi Sreekanth,
I am 35 year old (married), I want to buy term plan of 50 Lakh for 30 years. I am bit confused between LIC and other private companies, the premium is even more less if I go for online plans.
1. Could you suggest me if I can go for LIC or any other private company as the premium of LIC is too high.
2. is there would be any difference if I will go for online plans?
Looking forward for your upcoming feedback
Dear Sushil,
1 - You may consider SBI Life's e-Shield plan.
2 - Premium is cheaper.
Kindly read my article - Top Online term insurance plans & FAQs.
Hi Sreekanth,
Nice article.
Few quick questions:
1. Will there be any tax benefit in case of single premium option. If yes how will it be calculated.
2. Can I nominate different people for different benefits. E.g For income plus option nominate mom for lum sum and wife for Monthly Income.
Thanks,
Dev
Dear Dev,
1 - Up to Rs 1.5 Lakh can be claimed under section 80c (assuming that you are buying term plan)
2 - I am not very sure on this, kindly check with the company. Do update us if you learn about this. You can divide the percentage of share among the nominees.