Aug 08, 2016 05:27 PM
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I am going to discuss about HDFC's Click 2 Protect Plus Life Insurance Plan, which is basically a term plan which means there is no maturity benefit, if the policy holder death doesn't occur under the policy period.
As this is a Pure Protection Plan, so the premiums paid by the policy holder is low as compared to the other plans.
The Minimum entry age is 18 years and maximum is upto 65 years and the policy covered uptill 75 years of age.
Let's take an example if a 25 year old healthy male person is availing this plan for the next 30 years and taking the sum assured of 1 Crore so it comes at an investment of Rs.567 per month.
Let me tell you the premium rates of Non-Smoker is low as compared to Smoker.If you are in Non-Smoker category then it will be beneficial for you.
The main reason why to not avail this plan is, in the normal plan which is Life Option you will be getting only one basic benefit which is Death benefit. Also the claim settlement ratio is only 90.5% according to IRDA.
If you are going to another company they will be covering Death+Waiver of premium in permanent disability and also some companies covers terminal illness in their normal plan itself.
If you wanna go for a Accidental death rider then you will have to pay extra for that in "Extra Life Option".