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HDFC Life Click 2 Protect Elite is a comprehensive term insurance plan that is specially designed to protect your family in case of uncertainty. With this plan, you can receive coverage for the desired policy tenure, or choose to exit the plan early with the plan’s Smart Exit Benefit.
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Here are the key benefits of the HDFC Life Click 2 Protect Elite Plan:
Death Benefit: In the event of the policyholder's death during the policy term, the "Death Benefit" is paid as a lump sum, determined as follows:
The highest of:
Basic Sum Assured
10 times the Annualized Premium
105% of Total Premiums Paid
Smart Exit Benefit: The policyholder can choose to receive the Smart Exit Benefit, which is equivalent to the Total Premiums Paid for the policy. No extra premium is required to select this option. To exercise this choice, the following conditions must be met:
The option can be exercised in any policy year after the 30th year, but not during the last 5 policy years.
The policy must be in force at the time of exercising this option.
Maturity Benefit: No benefits are provided upon surviving until the end of the policy term.
Riders: The below riders can be availed in the HDFC Life Click 2 Protect Elite plan:
HDFC Life Income Benefit on Accidental Disability Rider: In the event of an Accidental Total Permanent Disability, this rider provides a benefit equal to 1% of the Rider Sum Assured per month for the next 10 years. Please note that no maturity benefit is offered under this rider.
HDFC Life Critical Illness Plus Rider: If you are diagnosed with any of the 19 Critical Illnesses and survive for a period of 30 days following the diagnosis, this rider provides a lump sum benefit equal to the Rider Sum Assured. It's important to note that there is no maturity benefit available under this rider.
HDFC Life Protect Plus Rider: This rider offers a benefit as a percentage of the Rider Sum Assured in case of an accidental death, partial or total disability due to an accident, or a diagnosis of cancer, depending on the chosen option. Please note that there is no maturity benefit payable under this rider.
Change Premium Payment Modes: You can easily change the premium payment modes anytime during the premium payment tenure.
Tax Benefits: The plan offers term insurance tax benefits as per the prevailing tax laws of the Income Tax Act of 1961.
*Note: You can use the term insurance calculator to quickly and very efficiently calculate your term insurance premium amount of your term plan.
Term Plans
Here is the eligibility criteria of the HDFC Life Click 2 Protect Elite Plan:
| Term Plan Details | Minimum limit | Maximum limit |
| Entry Age | 30 years | 45 years |
| Maturity Age | 35 years | 75 years |
| Policy Term | For Limited Pay of 10 years - 15 years For Limited Pay of 15 years - 20 years | 40 years |
| Sum Assured | Domestic: ₹ 2 Crores NRI: ₹ 2.25 Crores | ₹ 5 Crores |
| Premium Payment Term | Limited Pay (10 or 15 years) | |
*Note: It is recommended that you firstly know what is term insurance and what its eligibility criteria is before you buy term plan.
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Here are the policy details of the HDFC Click 2 Protect Elite Plan:
Paid-up Value: There is no paid-up benefit available under the HDFC Life Click 2 Protect Elite plan. In case of non-payment of premiums, the policy will lapse.
Policy Loans: No policy loan facility is available under this term plan.
Unexpired Risk Premium Value: Policy Cancellation Value (PCV) is accumulated immediately after the payment of two policy years. The value will be paid as per the following formula:
PCV Factor x Total Premiums Paid x Unexpired Policy Term / Original Policy Term
Free look period: If the policyholder is not satisfied with any T&Cs of the HDFC Life Click 2 Protect Elite policy, the policyholder shall have the option to return the plan to the company, mentioning the reasons for the objection, within 15 days (30 days in case the plan is purchased through distance marketing mode) from the receipt date of the policy.
Grace Period: It is the time provided after the due date of the premium in which the plan is considered to be active with the risk cover. The HDFC Life Click 2 Protect Elite policy offers a grace time of 30 days for annually, half-yearly, and quarterly payment frequencies from the premium amount due date. The grace period for monthly payment frequencies is 15 days.
Revival period: You can revive your lapsed term life insurance policy during the revival period, as specified below, subject to the terms and conditions we may outline. To revive the policy, you must settle all overdue premiums, along with any accrued interest, taxes, and applicable levies. The revival time for limited pay is 5 years as specified by the current policy regulations.
Cancellation during the Free-look Period: If you disagree with any policy terms and conditions, you can return the policy to us within 15 days of receiving it, as per IRDAI (Protection of Policyholders’ Interests) Regulations, 2017, or the applicable regulations. If you bought the policy through Distance Marketing, you have 30 days. Upon receiving the original policy document and your letter explaining the reasons, we will refund the premium, minus the proportionate risk premium for the coverage period, any medical examination expenses (if incurred), and stamp duty.
If the policyholder dies because of suicide in 12 months i.e., 1 year from the date of risk commencement under the plan or from the revival date of the policy, the beneficiary/nominee of the life assured shall be eligible for around 80 percent of the full premium amount paid till the death date or surrender value available as on the death date, whichever is maximum, provided the plan is active.
Note: Check out the term insurance plan in India and choose one that suits your requirements.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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