HDFC 1 Crore Term Insurance

In order to keep up with fast-changing times and evolving priorities, it is crucial to secure your family’s future against any uncertainty. Hence, 1 crore term insurance plans have become one of the most sought-after life insurance products. Such a plan offers the nominee a sum of Rs. 1 crore as a death benefit. One such plan is the HDFC Life click 2protect plan, which is flexible and protects your family against uncertainties.

"Life stage feature of HDFC Term Plans ensures your cover is enhanced as per your life stage requirements."

Importance of HDFC 1 Crore Term Insurance

Term insurance is the most cost-effective life insurance policy. Premiums are low, and you can decide on the premium payment mode. It also lets you enhance coverage by adding benefits like critical illness cover and accidental death or disability cover. You can also choose to receive the sum assured payment as a lump sum amount or as monthly income. A term insurance policy ensures that your family does not have to struggle financially, even in your absence.

In fact, HDFC Life Insurance provides three term insurance plans, such as the HDFC Life click 2protect plan, which doesn't have a maximum coverage limit as it depends on the underwriter’s discretion; HDFC Life Quick Protect Plan without medicals and with a maximum sum assured of Rs 1.25 CR and HDFC Life Saral Jeevan Bima with Rs 5 lakhs of coverage. But in this article, we shall focus on the HDFC Life click 2protect plan only.

Since we are talking about HDFC Life click 2protect plan in this article, let us discuss the features of that plan:

• Comprehensive Financial Protection -

  The term plan offers additional benefits like critical illness cover, accidental death cover, premium waiver benefit, etc. It also offers flexible term for paying premiums.

• Three Plan variants -

  A policyholder can choose from 3 plan options;

  • Life and CI Rebalance offers a death benefit and critical illness cover. It waives off all future premiums if any of the covered critical illnesses are diagnosed, continuing the life cover.
  • Life Protect is a pure term plan that offers death benefits as a lump sum payment of sum assured.
  • Income plus plan offers a maturity benefit and a regular income after 60.

• Cover for Whole life -

  It also gives an option to avail cover for whole life under Life Protect and Income Plus variants.

• Return of Premium Option -

  It has an option of return of premium, which pays back all the premium paid on survival till maturity.

• Additional Sum Assured -

  This option can be availed to receive an additional sum assured on accidental death.

• Special Premium Rates -

  HDFC Term Insurance Plan offers special premium rates for women and non-tobacco users.

You should check a few things before buying a term insurance policy.

• Coverage Needed:

  The sum assured should be sufficient to cover the family's financial needs. Calculate expenses, liabilities, loans and children's education plans and decide the sum assured accordingly. Also, the earlier you opt for a term plan, the more benefit you can avail yourself as the premium rises with age. However, once you opt for a term plan, your premium is locked for life and does not increase thereafter. However, when opting for the plan, ideally, the coverage should not be less than 10-15 times your annualised income.

• Enhance The Coverage:

  Include riders you actually need to enhance the financial coverage considering the premium amount.

• Claim Process:

  Ideally, you do not want your family to claim the amount, but if there is a need, they should know whom to contact. No one really talks about it, but this is a piece of important information that your nominee should be aware of.

Eligibility Criteria for all 3 variants of HDFC Life click 2protect plan:

How To Buy HDFC 1 Crore Term Insurance?

HDFC term insurance plans can be easily purchased online.

• Visit our official website for term plans: ​​https://www.coverfox.com/term-insurance/
• Enter your gender, age and mobile number to continue

Then you have the quotes wherein you need to select the following:

• Whether you are a smoker
• Occupation and annual income
• Education qualification

Your coverage details that you wish to apply for

• Tenure of coverage
• Premium paying term

Then you can opt for the HDFC 1 crore term plan.

• Then you simply need to enter more details
• The premium amount is displayed.
• elect your bank and make the payment.
• You will receive a payment acknowledgement.

Once your application is approved, your policy will be issued.

• Proof of identity, address and age.
• Proof of income and income tax returns.
• Passport size photograph
• Medical test reports if needed.