While in the prime of life, the need to buy an insurance plan may be the last thing on one’s mind. One may often feel that they are healthy and hearty and do not need any kind of life insurance, but contrary to this common belief, having a term insurance policy is indeed crucial. No one would want to leave their loved ones vulnerable. Therefore, making enough plans to keep their future secured must be a part of all your financial plans.
"Life stage feature of HDFC Term Plans ensures your cover is enhanced as per your life stage requirements."
One of the most practical and affordable term life insurance policies available today is HDFC Life Click 2 Protect Life Plan offered by HDFC. This is a pure term insurance plan which means if the insured passes away during the plan tenure, a death benefit is provided to the nominee. Read on to learn more about this term insurance policy.
The very basic reason behind buying a term insurance plan is to ensure the financial security of your family when you are not around. HDFC has always boasted a high claim settlement ratio which gives you the assurance of a claim being settled without any hassle to your loved ones.
A non-linked and non-participating savings life insurance plan, the HDFC Life Click 2 Protect Plan is a great way to secure the future of your loved ones. Check out the features and benefits of the HDFC 50 Lakh Term Plan below:
Being a pure-term insurance plan, Click 2 Protect Life Plan offers a death benefit in case the insured dies during the plan tenure. An accidental benefit of 100% basic sum assured is also provided to the family in case the insured dies due to an accident.
Under this clause, the insured receives back all the premium paid till the end of tenure if he/she survives till the plan ends.
In case of the ‘Income Plus’ plan, the insured gets to enjoy survival benefit as well. A regular monthly income is given to the insured after he/she reaches 60 years of age. 0.01% of the basic sum assured is disbursed every month as regular income. It continues till the policy ends or the insured passes away (whichever happens first).
There are 36 listed critical illnesses covered by HDFC. If the insured is diagnosed with any of these illnesses, the future premiums are waived. Also, every policy year, the critical illness benefit increases while the death benefit decreases.
There are a few things that remain out of the coverage of the HDFC 50 Lakh Term Plan. If the insured commits suicide within 12 months of the purchase or revival of the plan, the nominee will receive 80% of the premiums paid in total. Also, death due to war, involvement in any illegal activity, or dangerous activity is not covered
You get three different options of plans to choose from. Life & CI Rebalance, Life Protect, and Income Plus. All three have different features and benefits to offer. So, analyse your requirements and accordingly choose a plan that can benefit you the most.
The policy document may seem wordy but you must not skip reading it before you sign on to it. Once you've finalised a plan, make sure you go through every clause and terms and then only sign. It gives you a thorough idea of the plan.
Anyone fulfilling the basic eligibility criteria of HDFC Life Click 2 Protect Life Plan can apply. So, before you plan to fill out the application form, it is advisable that you check the eligibility criteria of the plan to proceed confidently:
| Particulars | Details (Depending on the plan you choose) |
|---|---|
| Minimum Entry Age | 18 years to 45 years |
| Maximum Entry Age | 65 Years |
| Minimum Maturity Age | 18 years to whole of life |
| Maximum Maturity Age | 65 years to whole of life |
| Maximum Policy Term | 30 years to whole of life |
| Premium Payment Term | Single, regular, and limited pay |
| Minimum Basic Sum Assured |
|
| Maximum Basic Sum Assured | No Limit |
The process of purchasing the 50 Lakh Term Insurance plan is quite simple. You can purchase it from the website of HDFC or by visiting a company office. Coverfox also lets you purchase the plan in a few simple steps. Follow the process below:
Check out the list of documents you will be required to submit along with the application form:
An adequate sum assured ensures that your family does not have to compromise on their lifestyle and they can pursue their dreams, even in your absence. Emotional loss may never be recovered, but plans like HDFC Life Click 2 Protect Life Plan ensure that your loved ones are financially stable. Read on to know all about this term insurance policy.
Single, regular or limited pay methods can be chosen to pay the premium. It may depend on the type of term insurance plan you choose.
The minimum basic assured refers to the amount that the nominee will receive in case the insured dies during the policy term.
Female applicants and non-smokers applicant can get discounts on the premium. You get to enjoy an income tax rebate under Section 80D of Income Tax if you have purchased HDFC 50 Lakh Term Plan.
