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HDFC Life Click2Protect

Objective

This term plan aims to cover insured's family members against financial turmoil in case something unfortunate happened to him.


What does it do?

This term insurance plan pays sum assured to the nominee in case of death of the life insured. The policy doesn’t have any riders. There is no surrender or maturity value. This plan can be purchased online.


Pros

The policy has a longer freelook period of 30 days, against 15 days in other policies. Women can avail lower premium rates.
Policies up to Rs 50 lakh sum assured charge equal premiums from both, tobacco and non-tobacco users. Policies higher than Rs 50 lakh give premium discount to non-tobacco users.
Premiums paid are eligible for tax benefits under Section 80C.


Cons

This plan does not offer any rider for an added protection.
It covers only upto 65 years of age.


Suited for

A plain term insurance plan is must for everyone looking after dependents.


Our View

This is a good online term insurance policy. Maximum policy renewal age is 65 years. If you feel someone else can replace you as the bread earner after that age, you may take this plan.

Eligibility
Entry Age (years) 
Minimum18
Maximum55
Maximum Maturity Age (years)65
Policy Term (years) 
Minimum10
Maximum30
Sum Assured (Rs) 
Minimum1000000
Maximum100000000
Minimum Premium (Rs) 
Yearly2000
Premium Payment FrequencyYearly
Premium Payment TermRegular
Policy CoverCover remains fixed for the tenure of the policy
Other Features 
Free Look CancellationIn case, you are not satisfied, you may choose to cancel the policy within 30 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace PeriodYou are allowed to pay premiums within 30 days from the due date. If a due premium is not received within the grace period of 30 days, your policy will lapse and the life insurance cover, including the rider cover, if any, will be terminated.
Lapsed Policy ReinstatementYou can reinstate your lapsed policy within 2 years from the due date of the first unpaid premium) by paying all the due premiums with interest and undergoing underwriting requirements, if any.
Tax BenefitsSection 80C, 10 (10D) of the Income Tax Act, 1961 would apply.
ExclusionsIn case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable. Further, if the Life Assured under the policy, whether medically sane or insane, commits suicide, within one year of exercising the option to increase the Sum Assured, then the amount of increased Sum Assured will not be considered in the calculation of the Death Benefit
Customer Service 
AddressHDFC Standard Life Insurance COmpany Limited, 13th Floor, Lodha Excelus, Apollo Mills Compound, N M Joshi Road, Mahalaxmi, Mumbai - 400011
Mail To[email protected]
Call On1800 227 227
SMS[email protected]
Annual Premium Option for Male
Policy Term (in years)Age (in years)
25303540455055
10278029803760536083801148017220
152800308041006060930012420NA
20282033804720702010740NANA
253000384054608140NANANA
30352044406340NANANANA
Figures indicate premiums on a Rs 20 lakh policy for an age over different policy tenures exclusive of service tax
Annual Premium Option for Female
Policy Term (in years)Age (in years)
25303540455055
10248026803380480069601076018300
152520270035805300788011380NA
2025602920408060609060NANA
252580330046807000NANANA
30288038005440NANANANA
Figures indicate premiums on a Rs 20 lakh policy for an age over different policy tenures exclusive of service tax

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