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HDFC Click 2 Protect Life Plan – Features, Eligibility and Review

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HDFC Click 2 Protect Life Plan – Features, Eligibility and Review

Life insurance helps the family to achieve financial goals and lead normal life even in the absence of earning member. There are several life insurance plans in India. However, the term insurance plan is a simple life insurance plan that provides high risk coverage with low premium. HDFC Life Insurance has a term plan name Click 2 Protect Life which has comprehensive features. In this article we would provide details of HDFC Click 2 Protect Life Plan, its features, eligibility and do a complete review.

Also Read: LIC Tech Term – Is it a good term insurance plan?

Key Features in HDFC Click 2 Protect Life Plan

Here are the key features and benefits in this term insurance plan.

  • HDFC Click 2 Protect Life is an individual, non-linked, non-participating and pure risk plan.
  • This term plan comes with 3 different options like Life Protect, Life Cover with critical illness and Income Plus (Life cover with regular income),
  • Auto balances Death and Critical Illness benefits with increasing age
  • Under an income option, one can get income payouts from 60 years onwards.
  • One can avail whole life coverage too.
  • Return of premium option helps to get back all premiums paid on survival till maturity.
  • Premium waiver benefit on diagnosis of Critical Illness
  • Accidental Death benefit available in this plan.
  • Plan comes with special premium rates for female lives and non-tobacco users
  • Any individual in the age group of 18 years to 65 years can take this policy. However, each option has specific eligibility criteria which need to be checked.
  • Plan available with flexible premium payment options i.e. regular pay, single premium option and limited premium payment option.
  • Minimum sum assured in this plan is Rs 20 Lacs for life protect with critical illnesses and Rs 50,000 for other plan options.
  • Policy tenure is 5 years to whole life, depending on the option chosen.

Eligibility in HDFC Click 2 Protect Life Plan

Here are the eligibility criteria to take this plan.

Eligibility in HDFC Click 2 Protect Life Plan

Various Plan Options – HDFC Click 2 Protect Life

There are 3 plan options available in this term insurance plan.

1) Life & Critical Illness (CI) Rebalance – This plan aims to achieve a balance between Death and Critical Illness bene­fit as you go along in your life. Critical Illness cover increases at each policy anniversary with corresponding reduction in Life Cover. In addition, all future premiums are waived o‑ on detection of any of the covered Critical Illnesses and the life cover continues.

2) Life Protect – Under this option, a lump sum is provided on the death of the life assured.

3) Income Plus – This plan option provides coverage for the entire policy term and also receives a lump sum payout on maturity along with regular income starting from 60 years of age.

What is the sum assured on death?

This would depend on the premium payment mode.

1) Sum assured on death would be higher of the following (single pay)

  • 125% of single premium
  • Sum assured on maturity
  • Basic sum assured

2) Sum assured on death would be higher of the following (regular premium and limited pay)

  • 10 times of annualized premium
  • Sum assured on maturity
  • Basic sum assured

Benefits in HDFC Click 2 Protect Life

1) Death Benefit

In case of unfortunate death of the life insured, the higher of the following is paid as a death benefit

  • Sum assured on death or
  • 105% of total premiums paid

2) Maturity Benefit

On survival of life insured, sum assured on maturity would be paid.

  • Sum assured on maturity = Total premiums paid if return of premium (ROP) benefit selected, otherwise nil.
  • Once death benefit or maturity benefit is paid, policy terminates and no further benefits are payable.
  • In case of selection of income plus plan option, the sum assured on maturity would be 110% of total premiums paid less survival benefits.

3) Survival Benefit

This benefit is available only for 3rd option i.e. Income Plus option.

On survival of life insured during the policy term, an amount equal to 0.1% of basic sum assured will be payable at the end of every month after attaining 60 years of age until death or the end of the policy term whichever occurs first.

What are Add-On Benefits available in this plan?

This plan offers add-on benefits depending on the plan chosen

  • Return of Premium – This benefit can be availed if Life and Critical Illness or Life Protection (fixed term) plan option chosen.
  • Waiver of premium on Critical Illness Option – This benefit is paid in case of diagnosis of any of the listed critical illnesses. However, this benefit can be chosen only if the PPT is above 5 years and Life Protect option with fixed term is selected.
  • Accidental Death Benefit Option – Under this benefit, in case of unfortunate death of life insured due to accident, 100% of basic sum assured would be paid as an accidental death benefit. This option available only with Life Protect Option.

Riders in HDFC Click 2 Protect Life

Life Insurance Riders helps you to get extra insurance coverage. This term plan offers 3 riders.

  • HDFC Life Income Benefit on Accidental Disability Rider
  • HDFC Life Critical Illness Plus Rider
  • HDFC Life Protect Plus Rider

Critical illnesses covered in HDFC Click 2 Protect Life

Following is the list of critical illnesses that are covered.

1) Cancer of Specifi­ed Severity

2) Myocardial infarction – First heart attack of specifi­c severity

3) Open Heart Replacement or Repair of Heart Valves

4) Kidney Failure Requiring Regular Dialysis

5) Major Organ/ Bone Marrow Transplant

6) Coronary Artery Bypass Graft (Open, Keyhole or minimally invasive or Robotic Cardiac CABG)

7) Multiple Sclerosis with persisting symptoms

8) Stroke resulting in permanent symptoms

9) Coma of specifi­c severity

10) Permanent Paralysis of Limbs

11) Motor Neuron Disease with Permanent Symptoms

12) Benign Brain Tumor

13) Blindness

14) Deafness

15) End stage lung failure

16) End stage liver failure

17) Loss of Speech

18) Loss of Limbs

19) Major Head Trauma

20) Primary (idiopathic) pulmonary hypertension

21) Third Degree Burns

22) Alzheimer’s Disease

23) Aplastic Anaemia

24) Medullary Cystic Kidney Disease

25) Parkinson’s Disease

26) Systemic Lupus Erythematosus (SLE) with Lupus Nephritis

27) Apallic Syndrome

28) Major Surgery of Aorta

29) Brain Surgery

30) Fulminant Viral Hepatitis

31) Cardiomyopathy

32) Muscular dystrophy

33) Poliomyelitis

34) Pneumonectomy

35) Severe Rheumatoid Arthritis

36) Progressive Scledorma

Positive Factors in HDFC Click 2 Protect Life

Here are the positive factors in this plan:

1) HDFC Click 2 Protect Life is a simple term insurance plan, however, comes with several key features.

2) This is a flexible term plan which comes with 3 different plan options. One can consider relevant plan based on the need.

3) This term plan comes with Income Plus option which pays the sum assured on maturity on attaining 60 years of age and income there on every month

4) This term plan provides an option to cover for whole life.

5) It comes with various add-on benefits like return on premium and premium waiver benefits

6) This term plan provides 3 different riders which can be considered based on the need.

7) Accidental death benefit paid in case of unfortunate death of life insured beyond death benefit.

8) Female individuals and non-tobacco users have discounted premium rates.

9) This term plan comes with flexible premium payment options – Regular pay, single pay or limited pay.

10) Critical illness option covers for 36 listed critical illnesses.

11) HDFC Life Latest Claim Settlement Ratio in 2022 is above 95%.

Negative Factors in HDFC Click 2 Protect Life

Here are some of the negative or hidden factors in this term plan.

1) Add-on benefits comes with additional premium

2) Riders offered in this plan come with additional premium

3) Understanding the definition of Critical illnesses is little complicated

4) Critical illness benefit would not get covered for pre-existing diseases for 48 months from the date of policy.

5) In case life insured commits suicide within 12 months, only 80% of the premiums paid would be returned to the nominee.

HDFC Click 2 Protect Life Plan – Should you opt?

HDFC Life insurance has a good claim settlement ratio of over 95% in the last few years. This term insurance plan from HDFC Life comes with several nice features and flexible options. Some of the features might not be useful for everyone. One should review positive, negative factors and consider features which are relevant to them and can buy this term insurance plan.

Source: HDFC Click 2 Protect Life Brochure

Suresh KP

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