Skip to main content

HDFC Click 2 Protect Plus

 

HDFC Click 2 Protect Plus

For those who are aware of online term plans, HDFC Click 2 protect is not a new name for them. It is one of the popular names in online term plan market, which almost every seeker of online term plans must have went through before finalizing his selection. With a great claim settlement ratio, competitive premium rates, dependable brand image this product has always been difficult to ignore. HDFC Click 2 protect Plus is a new version of the same plan with some add on optional features.

This particular plan can also be bought offline and thus is available to all those also who are not internet savvy. Among the additional features it has come up with 2 options which include regular monthly payments to the nominee, along with lump sum payment of Sum assured. One another feature allows the insured to increase or reduce the sum assured at specified life events. Overall it sounds a nice product, let's find out more.

 

HDFC Click 2 protect plus – in Brief

HDFC Click 2 protect plus is a pure term insurance plan, specifically called as "a traditional non-participating term insurance plan". It is an extended version of the other popular online term plan of HDFC with name HDFC Click 2 protect, which might get discontinued soon. The "Plus" factor in this product brings along 3 optional features, which are as below

1. Extra Life option: You can top up your existing life insurance coverage with accident insurance cover by paying some extra premium.

2. Income option: In this option at the time of claim, 10% of Sum assured will be paid as lumpsum and Balance will be paid in monthly installments scattered over 15 years time frame.

Say for e.g for a Sum assured of Rs 1 cr, in case of demise of the policy holder family will get Rs 10 lakh in lumpsum and remaining Rs 90 lakh will be divided into monthly installment of Rs 50000/- and be paid monthly for next 15 years.

3. Income Plus option: Here 100% of Sum assured will be paid on death in lumpsum and monthly income equal to 0.5% of Sum assured will be paid for next 10 years. The monthly income can be level or increasing @10% p.a. as chosen by policy holder.

Taking the same case as in point 2 above, in this case family will get Rs 1 crore as lumpsum plus a monthly installment of Rs 50000 fixed amount for next 10 years or Rs 50000 per month with increment of 10% p.a.

Besides the above in HDFC click 2 protect plus plan , there's one Life stage protection feature available in the base plan i.e. Plan with no option (as mentioned above ) opted for. With this feature insured can increase or reduce the sum assured on the occurrence of a specified life event like Marriage or Birth of child. The Premium will be reworked based on new sum assured. It will work like as below:

After 45 years of age if you feel that you have accumulated enough corpus to provide the necessary financial security to the family and you don't require this much of insurance cover then you can get your sum assured reset to the original sum assured which was at inception of the policy.

HDFC Click 2 Protect Plus – Key features

Below are the key features of the this new online term plan, in comparison to its earlier version

HDFC Click 2 Protect Plus – Premium quotes

The premium quotes below are of a regular policy for a healthy non smoker male for a Sum assured of Rs 50 lakh. Term of the policy is 30 years. All quotes are for offline purchase, which are around 5% costlier then the online term plan purchase quotes

The premium quotes below are of a regular policy for a healthy non smoker male for a Sum assured of Rs 1 crore. Term of the policy is 30 years. All quotes are for offline purchase, which are around 5% costlier then the online term plan purchase quotes

HDFC Click 2 Protect plus – Should you buy?

When it's a question of buying a term insurance plan, I can answer with closed eyes. Yes. Everyone should be having adequate life insurance cover and term insurance plans are the cheapest way to buy that cover. Online term plans are more economical then offline products. So in my opinion HDFC Click 2 protect plus through Life Option is must to be considered product.

I like things to be simple and clear, and that's why a bit reluctant on opting for any add on feature. In case of income option, insurance company will keep 90% of the Sum assured with themselves and distribute balance in monthly installments without any interest. So financially speaking it doesn't make sense. Even if the nominees park the claim received in a bank FD they can generate better income and monthly returns.

In Income Plus option, the difference in premium can be used to buy another term plan to enhance the cover and if used wisely (if claimed) again can generate better returns and monthly income.

Conclusion

Keep your finances Simple. HDFC Click to protect plus can be considered for pure online term plan or offline purchase without any add on topping

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

Leave a missed Call on 94 8300 8300

Leave your comment with mail ID and we will answer them

OR

You can write back to us at

PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest Mutual Funds Online

Invest Any Mutual Fund Online

Download Mutual Fund Application Forms from all AMCs

Download Mutual Any Fund Application Forms

---------------------------------------------

Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Franklin India Bluechip
      4. ICICI Prudential Top 100 Fund

B. Large and Midcap Funds Invest Online

      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
      4. Birla Sun Life Front Line Equity Fund
      5. Franklin India Prima

C. Mid and SmallCap Funds Invest Online

      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
      5. Birla Sun Life Dividend Yield Plus
      6. SBI Emerging Businesses Fund
      7. HDFC Mid-Cap Opportunities Fund
      8. ICICI Prudential Discovery Fund

D. Small and MicroCap Funds Invest Online

      1. DSP BlackRock MicroCap Fund
      2. Franklin India Smaller Companies

E. Sector Funds Invest Online

      1. Reliance Banking Fund
      2. Reliance Banking Fund
      3. ICICI Prudential Banking and Financial Services Fund

F. Tax Saver Mutual Funds Invest Online

1. ICICI Prudential Tax Plan

2. HDFC Taxsaver

      1. DSP BlackRock Tax Saver Fund
      2. Reliance Tax Saver (ELSS) Fund

G. Gold Mutual Funds Invest Online

      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund
      4. Birla Sun Life Gold

H. International funds Invest Online

1. Birla Sun Life International Equity Plan A

2. DSP BlackRock US Flexible Equity

3. FT India Feeder Franklin US Opportunities

4. ICICI Prudential US Bluechip Equity

5. Motilal Oswal MOSt Shares NASDAQ-100 ETF

Popular posts from this blog

Mutual Fund Review: Religare Tax Plan

Tax Plan is one of the better performing schemes from Religare Asset Management. Existing investors can redeem their investment after three years. But given the scheme's performance, they can continue to stay invested   Given the mandated lock-in period of three years, tax saving schemes give the fund manager the leeway to invest in ideas that may take time to nurture. Religare Tax Plan's investment ideas revolve around 'High Growth', which the fund manager has aimed to achieve by digging out promising stories/businesses in the mid-cap segment. Within the space, consumer staples has been the centre of attention for the last couple of years and can be seen as one of the key reasons for the scheme's outperformance as compared to the broader market. It has, however, tweaked its focus and reduced exposure in midcaps as they were commanding a high premium. The strategy seems to have worked as it returned a 22% gain last year. Religare Tax Plan has outperformed BSE 100...
Read more

Mutual Fund Review: L&T MIP

        This fund won't deliver chart-topping returns. However, over the long run it will not disappoint and end up beating the category average The fund has seen numerous changes at the helm. When Katare took over in October 2007, he made dramatic alterations to the portfolio. On the equity side, he increased the number of stocks to 11 (November) from 2 (September). On the debt side, he added Certificates of Deposit (CDs), while earlier Treasury Bills (T-Bills) and cash accounted for 88 per cent (September 2007) of the portfolio. In November 2007 he exited T-Bills for good. The results impressed. In the last quarter of 2007, it delivered 12.83 per cent (category average: 6.12%). In 2008, the first quarter performance was nothing short of impressive, a return of 9.93 per cent (category average: -3.97%). While other players increased their portfolio maturity, Katare maintained a low maturity profile. While the average maturity of the category was 2.81 years that quarter, th...
Read more

PF e-Passbook

  Provident Fund e-Passbook   The Employees Provident Fund Organisation now runs an e-passbook service that enables members to log in and access their provident fund accounts . This facility enables tracking of the money and ensuring that the employer's contribution has been deposited into the account. This facility is available to those whose accounts are with the central provident fund commissioner for maintenance and can be availed at members.epfoservices.in . Registration A member can register at the portal easily by using PAN , Aadhar or passport number as the log in and the mobile numbers as the PIN . This combination enables easy retrieval of information. Accounts After logging in, the member has to choose the state where the employer is located, and enter the code number of the employer, account number and name. These details can be obtained from any existing PF document . PIN To download the passbook, the member will request...
Read more

Mutual Funds: Past Performance is not just everything

Many a times your agent / distributor / relationship manager tries to push you some mutual fund schemes by enticing you with a typical sales pitch…"Sir, this scheme has generated 20% returns in the past one year." And this sales pitch often gets louder when the market conditions have been favourable. Some of the agents / distributors / relationship managers have another unique way of luring you. They say, "Sir / madam this scheme has been awarded the best scheme award in the past by a leading business channel"... And hearing all these sales talks you investors very often get attracted and sign a cheque in favour of the respective scheme.   But please ask yourself do you hear these sales talks when the capital markets turn turbulent? Why is it so that your agent / distributor / relationship manager avoids talking to you during turbulent times of the capital markets and doesn't boast about returns generated by the respective funds or awards being conferred on t...
Read more

Reconfigure investments to reap benefits in DTC

    Investing for tax benefits under the new Direct Taxes Code ( DTC ) will be different in several ways from what taxpayers are familiar with right now. This will require some reconfiguration in the nature of investments for the investor and they need to be ready to tackle the changes that will come about once the new DTC is implemented from financial year 2012-13.One area of interest for most taxpayers is the manner in which they can extract the maximum tax benefit. Here is a look at the situation and also how it changes from the existing position. Basic deduction: At present, there is a deduction of Rs 1 lakh that is available for an individual when they make investments under specified areas such as provident fund, public provident fund, national savings certificates, equity linked savings scheme and insurance premium, among others. This benefit is available under Section 80C of the Income Tax Act. This has been replaced by a new Section 68 under the DTC where there is a deduct...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now