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The HDFC Click 2 Protect Ultimate is a term insurance plan that offers comprehensive pure risk protection and the opportunity to receive all the premiums paid back at the policy's termination. This plan also offers tax benefits, special discounts, and an accelerated payout on terminal illnesses.
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This term insurance policy provides financial protection in case of the policyholder’s untimely demise.
The return of premium option pays back all the premiums paid during the policy term.
The smart exit benefit allows you to exit the plan early and receive all the premiums paid until that point.
On the diagnosis of terminal illness, the accelerated benefit will be paid out if the sum assured is less than 2 Crores.
You can change the premium pay term and frequency as per your needs.
The policy provides the option to convert the policy into reduced paid-up to ensure policy coverage even when you cannot pay the premiums.
Female customers can get a lifetime discount of 15%.
Term Plans
The death benefit will be payable on the policyholder’s untimely death during the policy term. It will be paid as the higher of the following:
Sum assured on death
105% of the total premiums paid
On survival of the policy term, the sum assured on maturity will be payable to the customer, which would be equal to a 100% of the total premiums paid only if ROP or the return of premium option is selected.
The return of premium option offered under this plan will return a 100% of the premiums paid as a lump sum on the maturity of the policy. This option is available at an additional premium and can be chosen at the time of policy purchase.
The policyholder can choose to exit the plan early and receive all the premiums paid until that point. This feature is available at no cost, and the policy will terminate once the premiums are returned. The smart exit benefit is available for policies with term greater than 30 years and cannot be availed during the last 5 years.
The sum assured on death, up to a maximum of 2 Crores, will be accelerated in the event of diagnosis of a terminal illness during the policy term. The benefit payout will not be accelerated paid in case of terminal illness diagnosis before the age of 80 years. A waiting period of 6 months is applicable on this benefit. On the payout of the terminal illness benefit:
If the death benefit is equal to the terminal illness benefit, the policy will terminate
If the death benefit is greater than the terminal illness benefit, the policy will continue and the remaining amount will be paid at the death of the policyholder
Guaranteed surrender value is activated immediately upon premium payment for single-pay policies and on one-year premium payment for limited or regular-pay policies. The insurer may pay a special surrender value after the completion of the first policy year.
Your Surrender Value will be the higher of Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV). Where,
GSV = GSV Factor% × Total Premiums Paid
For policies where return of premium is not opted, the policy cancellation as acquired will be paid:
If the life assured surrenders the policy during the policy term for SP or LP policies
On the death of the policyholder during the revival period
At the end of the revival period if the policy is not revived
You can claim term insurance tax benefits as per the prevailing tax laws under sections 80C and 10(10D) of the Income Tax Act, 1961. You can check with your financial advisor to see the applicable tax benefits with this plan.
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Here is a list of eligibility criteria you need to fulfill to buy this HDFC term insurance plan:
| Parameters | Minimum | Maximum |
| Entry Age | 18 years | 50 years |
| Maturity Age | 18 years | 85 years |
| Sum Assured | 1 Crore | 3 Crores |
| Policy Term | SP: 1 month, RP: 2 years, LP: 3 years |
40 years |
| Premium Pay Term | 5 years | Premium pay term less than policy term |
| Premium Pay Modes | Single, Annual, Half-yearly, Quarterly, and Monthly | |
You can use the term insurance premium calculator to check the premiums applicable for your profile.
Death Benefit as Instalments
On selecting this option, the nominee will receive the full or part of the death benefit in installments. This option can be selected at the time of policy purchase and allows death benefit to be paid in installments for a 5 to 15-year period.
Change Premium Frequency and Term
The policyholder can change the premium pay frequency anytime during the premium pay term. You also have the option to change the premium pay term from regular pay to limited pay, depending on your changing needs.
Reduced Paid-up
A reduced paid up policy will only be applicable for the return of premium option with the limited or regular pay options where the premiums are paid for at least 1 full year after the completion of the first policy year.
Once the policy has acquired paid-up value and the policyholder stops paying premiums:
The death benefit paid will be higher of the following:
Sum assured on death x SA Factor x (Total premiums paid / Total premiums payable)
105% of the total premiums paid
Accidental Death Benefit as per the following:
Sum Assured on Death × (Total Premiums Paid ÷ Total Premiums Payable)
Maturity Benefit as per the following:
Sum Assured on Maturity × (Total Premiums Paid ÷ Total Premiums Payable)
Free Look Period: The free look period offered under this plan is 30 days from receipt of the policy documents.
First-Year Discounts: A discount of 5% on the first year premium would be applied on policies purchased on worksite marketing, branch walk-ins, and distance marketing like tele, online, or web aggregator sales.
Female Discounts: A 15% discount for female customers for their whole lives.
Revival Benefit: The lapsed policy can be revived on the payment of all the outstanding premiums, and the revival period will be 5 years from the date of the first unpaid premium payment due date.
Grace Period: This is available for limited and regular pay policies and provides a grace period of 30 days where the mode of payment is yearly, half-yearly, and quarterly. The grace period is of 15 days for the monthly premium pay modes. If the premiums are not paid during this period, the policy will either lapse or get converted into reduced paid-up, depending on applicability.
The HDFC Life Click 2 Protect Ultimate has a suicide exclusion, wherein if the policyholder suffers an untimely death within the first 12 months of policy purchase or revival, at least 80% of the total premiums or the surrender benefit will be paid to the nominee, depending on whatever is higher.
†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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