HDFC Life Insurance Company Limited
HDFC Life Insurance Company Limited was established in 2000, it is a joint venture between HDFC Limited and Standard Life Aberdeen. HDFC Life Insurance Company offers a variety of term insurance plans that are designed to provide financial protection to the policyholders and their families in case of any unfortunate event in the future. The range of products offered by HDFC Term Insurance includes savings and investment plans, protection and child plans.
HDFC Life Click to Protect Plus plan review.
HDFC Life Click to Protect Plus is a pure term insurance plan that offers you a huge cover at a very small premium. Along with this, there are some additional features in this policy such as,
- You can increase the coverage amount of important life events such as marriage or the birth of a child.
- Accidental Death Benefit Rider is available Death Benefit Rider is available.
- Along with this, you can make payment in the form of lump sum class monthly claim settlement.
HDFC Life Insurance has recently launched Click 2 Protect 3D Plus plan which is its new term insurance online plan and which protects you in 3D i.e. Death, Disability and Disease. Click here to know more about this plan .
Features with HDFC Life Click to Protect Plus Plan.
- Under this, you can take cover for 10 to 40 years.
- You have the option of paying the death benefit as a lump sum or as monthly income for 15 years.
- Accidental Death Benefit Rider Option.
- You get tax benefits under Section 80C and 10(10D) of the Income Tax Act 1961.
Four options under HDFC Life Click to Protect Plus plan
|Plan options||Cover details|
|Life option||Lump Sum Payment of Death Benefit|
|In case of death due to accident, a lump sum of death benefit um of death benefit is paid to the nominee in addition to the additional sum assured.|
|Income option||One part of the Sum Assured is paid on death and the remaining amount is paid as monthly income for 15 years.|
|Income plus option||Sum Assured is paid on death and monthly income is paid for 10 years where monthly income can be chosen as level or 10% increasing every year.|
Benefits of HDFC Life Click 2 Protect Plus:
As it is a pure protection plan which provides a large lump sum amount to the nominee on death and hence there is no maturity benefit under it.
B) Death :
In case of accidental death of the policy holder, the insurance company will provide the following death benefit to the nominee.
Single premium policy, whichever is higher
- 125% of single premium
- sum insured
Regular premium policy, whichever of the following is higher
- 10 times the annual premium
- 105% of the total premiums paid till death
- sum insured
- The above death benefit will be paid on death as a lump sum.
- Extra Life Option (Accidental Death Benefit): If the death is due to an accident, an additional amount equal to the Sum Assured will be paid in addition to the above death benefit.
- On death 10% of the death benefit will be paid.
- The remaining 90% will be paid monthly for 15 years.
Income Plus Option:
- In case of death of the policyholder, 100% of the death benefit will be given to the nominee.
- In addition, monthly installment payment of 0.5% of Sum Assured will be given for 10 years.
- Here the monthly income can be chosen by the policyholder at the level or increasing 10% per annum.
C) Income Tax Benefit:
Under Section 80C of Income Tax, there is no tax to be paid on life insurance up to 1.5 lakhs. Apart from this, the maturity amount you get under this plan is also tax free under section 10(10D) of Income Tax.
HDFC Life Click 2 Protect 3D Plus
Click 2 Protect 3D Plus is an HDFC Term Insurance plan that aims to provide complete financial protection to your loved ones. The term ‘3D’ refers to the various uncertainties of life i.e. Death, disability and disease.
Features of the plan
- This scheme Rs. Offers a discount on opting for a higher sum assured of Rs 1 crore or more.
- Premium Waiver Benefit is provided to the policyholder if he/she is diagnosed with any of the listed critical illness (under 3D Life and 3D Life Long Protection options) and Accidental Total Permanent Disability (under all plan options).
- The death benefit for this plan is paid through 2 forms- lump sum payment and lump sum plus monthly payment.
- There are 9 plan options available and customers have the flexibility to customize the plan as per their requirements.
- This plan allows the customers to choose the premium payment and policy terms as well.
|Age at entry||18 years||65 years|
|Age at maturity||23 years||85 years|
|Premium payment mode||Single Pay, Regular Pay, Limited Pay||Single Pay, Regular Pay, Limited Pay|
|Minimum Basic Sum Assured||Rs 10,000||Rs 10,000|
**Last updated August 2021
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