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 :
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This post was last modified on July 10, 2023 11:31 am
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View Comments
Hi,
I am 34 married female. I am looking to take a HDFC life option term insurance for 50L for a period of 40yrs. Is it true that sum assured amount in case anything forbidden happens say 10 yrs later, will be paid only after I have finished paying the permium for 40 yrs. In which case, how much will be paid during the contingency?
Dear Sangeetha,
Are you an earning member of your family?
If any unfortunate event happens after 10 years, your nominee would receive Rs 50L as the claim amount in the same year.
Hi Sreekanth
If I compare HDFC term plan with Aegon Religare plan, I have more benefits with less premium. And Religare is also a know brand. Also their claim settlement ratio is increasing since they have launched the plan.
What are your views on it? Which one should I prefer? HDFC or Aegon ? Aegon Religare plan is cheaper by 1800 and with critical illness riders.
Thanks for your reply in advance !
Regards
Radhika
Dear Radhika,
Kindly follow as suggested and discussed on Facebook Chat / emails :)
Hi Sreekanth,
Can you share your response w.r.t choice b/w religare and HDFC to me as well through email or through this post?
Regards
Praveen
Dear Praveen, both are good but my vote is for HDFC term plan.
Hi Sreekanth
Read your couple of articles. Liked the way you explain.
Can you suggest me some investment option? I am 25 yr old, married
Thanks in advance !
Dear Radhika,
Let me know about your financial goal(s)..
Kindly read my articles : "How to create a solid investment plans?" & "Financial planning Pyramid".
I want to buy hdfc term insurance of 1 crore. Should i go for Income option as the premium is slightly lower than basic in click to protect plus
Dear Manjunath,
Premium is lower than basic? or is it the other way?
Suggest you buy a basic plan and also go for a stand-alone Personal Accident Plan.
Hi Shreekanth,
I am about to buy a Term policy from HDFC click2protect for myself, 32 yrs, non smoker, planning to buy 40 years term policy. But i also admired on the Kotak preferred e-term policy as they are waiving off the remaining premiuim and ready to pay by themself in case of any permanent dis abilities happened to the insurer.
Please suggest whether i should go for HDFC life protect / Kotak preferred e term
Regards,
Deva
Dear Thevendhiran,
Both plans are good. Suggest you to take basic cover and go for stand-alone Personal Accident plan.
Hi Sir,
Can you name it please. Are you suggestin
1. HDFC Life option Basic plan (Rs.7511 for 50lakhs SA.)
OR
2. from Kotak preferred eterm Basic - (Rs.5985 for 50 lakhs)
Hdfc is from 2001.... but Kotak has shown their best records only from past 3 years. However still having more than 90% claim setttlement.
I am gonna take it today only.. So waiting for your confirmation... which one shall i buy... please name it.
Dear Thevendhiran,
I personally feel that both plans are good.
If you are comfortable with HDFC Life, kindly go ahead with it.
Read my article - Top 7 best online term insurance plans
Disclose all the required information in proposal form accurately .
Okay, If both are good then i would go for Kotak as i am getting the lesser premium compared to HDFC. And i do have 40 years coverage till my Age 72. and i will also get 100% covered in case of any suicide attempt after 1st year. As you said i will take separate accident stand alone policy somewhere in the near future.
Regards,
Deva
Dear Thevendhiran,
Generally policy tenure can be upto the age of retirement. So, re-think about the policy tenure.
Let's not discuss about suicide clause. Stay healthy and stay safe :)
Also can you please suggest a personal accident policy for me. 9884033633 this is mynumber.
Dear Thevendhiran,
What is the coverage amount that you are planning to go for?
sir,
I want to know that which company is best for term insurance (RELIANCE, AEGON, AVIVA, HDFC, MAX) and which plan is best for me and I want to know about accidental option and what is rider.
28 YEARS
thanks
Dear VIRENDER,
Suggest you to read my article - "Top 7 best online term insurance plans".
hi Sreekanth
thanks for such valuable information regarding term insurance plans. i am 32 yr old married person and i want to know that there is any pension scheme in HDFC life's click 2 protect plan in current scenario. plz tell me which plan will be best for me.
Dear Sachin,
Kindly read my article on "Retirement Planning in 3 simple steps".
Suggest you to first calculate the required retirement corpus and then identify the right financial products.
Hi Sreekanth,
I am planning to buy HDFC Life click to protect plus term plan with below sum assured.
Type:Income Plus option with 10% increasing yearly income
Sum Assured:50 Lac(Lumpsun)
Monthly Income: 25000(With 10% annual increment for a period of 10 years)
Currently my age is 26 and planning to take cover till 60 years where premium has to be paid till 55 years of age.
Please suggest me if it is suitable for my age group and also is it better to have monthly deduction of premium which is around 740 for me inclusive of taxes rather than quarterly/half yearly/yearly.
Dear Rahul,
Are you a married person? Do you have any family member who is financially dependent on you?
Dear Srikanth,
As of now not married, will be in a year or two.But i have my parents as dependents.
Dear Rahul,
It is better to buy a simple and basic Term insurance plan. Go for high basic coverage and do not add other options.
Regarding 'premium payment mode', it is completely dependent on your comfort level and affordability.
Hi sreekanth,
Life Stage Protection feature is available under Life Option only. Life option with this feature is a good combination. But only thing is that the premium amount will not remain constant.
If it is not constant then is there any information that how this is going to change in future.
personally asking that I found this as a better that suits me , but with the premium not being constant how would this vary in future, if you can share this information it would be helpful to me .
Thanks in advance for you posts and blog. :-)
Dear Nagesh,
The premiums will be recalculated based on the increased sum assured and outstanding policy term. No medical tests are required at that time. So, the new premiums will be decided by the underwriters of the company as per the then prevailing mortality rates.
Kindly allow me to ask one question. I have observed that you have been asking lot of interesting and valid questions on multiple posts (related to insurance). It is my pleasure to clear your doubts. But, why did you buy Rs 1 cr worth of Jeevan Anand? (you seem to be very knowledgeable ).
Did you ask these many questions to your Insurance agent, when you took Jeevan Anand policy? Did you do this kind of research / home work that time?
Hi sreekanth,
Will there be any difference in premium amount, if i buy hdfc click 2 protect plus (life option) insurance from online, instead of buying the same from agent ?
According to you which one is better ?
Regards,
Nani.
Dear Nani,
When you have the option and convenience to buy it online, just go ahead and buy it online.
Complete the paperwork by yourself and mention all relevant facts in the proposal form. Do not hide or conceal any material facts.