All You Should Know About HDFC Term Insurance

By Marie Singer

Term insurance is a life insurance plan which offers coverage to the insurance holder for a specific period. If the death of the insurance holder occurs during the policy term, the company pays the beneficiary. Term insurance covers the family expenses financially and the kids’ higher education. Term Insurance Plan provides the benefit of a big life insurance cover at a modest premium. The term of your insurance plans is equally important as the premium paid. When the time is longer, the premium paid is higher. But having a shorter term period will leave your loved one without insurance coverage. Hence, it is recommended to consider the term when buying the best term insurance plan for you.

The objective of the term insurance plan is to support the family financially with regular expenses and future. Ideally, the period of the term insurance plan should be when financial goals have been met for retirement. Typically, determining the period for term insurance is not easy. Many large expenses like children’s higher education and marriage will be happening in later 30s, 40s, and 50s. It makes sense to have term insurance to retirement till the age of 60.

Listed below are the Best HDFC term insurance policies.

  • HDFC Click2Protect 3D Plus
  • HDFC Click2Protect Plus
  • HDFC Life Common Service Centre Suraksha

HDFC Click 2 Protect 3D Plus:

  • This HDFC plan is the latest non-linked term policy provided by HDFC. This HDFC plan provides comprehensive protection and financial security.
  • This term plan offers about nine coverage options. These options are Life Long Protection, 3D Life-Long Protection, iLife, 3D Life, Income, Income Replacement, Extra Life and Premium Return.
  • This term insurance plan provides death diagnosis, critical illness, accidental benefits.
  • This option protects life stages that allow the insured person to change the amount assured for various stages like marriage, the birth of children with ease. At the marriage stage, 50% of the amount can be extended, and 25% of the amount can be extended at the birth of each child.
  • The premium for this term insurance made in a lump sum or installments for the term with a premium plan that has regular payments. The premiums paid and claims received are tax-free.
  • This term insurance plan has a flexible policy term varied from 5 to 40 years.
  • The eligibility conditions for Life Long Options are:
  1. The minimum entry age for Life Long Term Insurance plan is 25 years, and the maximum entry age is 65 years.
  2. The term insurance maturity age is whole life.
  3. The term insurance for policy term ranges from 5 years and whole life.
  4. The premium paying up to 65 years and frequency options are annual, half-years, quarterly, and monthly.
  5. The minimum amount assured is INR 10,00,000, and the maximum sum is limitless.
  • The eligibility conditions for other Life All Options are:
  1. The minimum entry age for Life Long Term Insurance plan is 18 years, and the maximum entry age is 65 years.
  2. The term insurance maturity age is ranged from 23 years to 75 years.
  3. The policy term ranges from 5 years and 40 years.
  4. The premium paying from 5 years to 38 years and frequency options are annual, half-years, quarterly, and monthly.
  5. The minimum amount assured is INR 10,00,000, and the maximum sum is limitless.

HDFC Click2Protect Plus:

  • HDFC Click2Protect Plus term life insurance plan has four coverage options which are Income, Income Plus, Life, and Extra Life,
  • With claim upon death, 125% of the lump sum for a single payment of premium. With regular payments of premium, the claim is higher than the lump sum or the premium multiplied by
  • This term insurance also has the feature that allows insured persons to increase their assured amount at various stages of life. At the marriage stage, 50% of the amount can be made greater. After the birth of a kid, 25% of the amount can be made greater.
  • The insured persons can reduce this term insurance after turning the age of 45 which lowers the premium payments. This payment can be made in whole or regular intervals.
  • There is a special premium rate for people who do not smoke.
  • Premiums paid and claims received are tax exempt.
  • The Eligibility criteria for this term insurance plans are:
  1. The minimum entry age for this term plan is 18 years, and the maximum entry age is 65 years.
  2. The maturity for this HDFC term plan is ranged from 28 years to 75 years.
  3. The policy term is ranged from 10 years to 40 years.
  4. The amount assured is INR 25 lakhs to no limit.
  5. The premium payment can be a single payment or in installments yearly, half-yearly, quarterly or monthly.

HDFC Term Plan – Common Service Centre Suraksha

  • This Plan focuses on the rural area to provide mainstream insurance and coverage offered by HDFC Standard Life, Common Service Centre (CSC) and the Government of India.
  • This plan is easy, and the low cost is making it ideal for first-time life insurance investors. This term insurance pays the insured claim to the deceased’s family members.
  • With low premiums, this term insurance plan is affordable to most.
  • The Eligibility Criteria for this Term Insurance, CSC Suraksha Plan are:
  1. The minimum entry age for this term insurance is 18 years, and the maximum age is 55 years.
  2. The term policy ranges from 5 years to 15 years.
  3. The maturity age for this term insurance is from 23 years to 60 years.
  4. The sum assured ranges from INR 30,000 to INR 2 lakhs.
  5. The premium to be paid per year is Rs. 112.
  6. Depending on the policy, the frequency of payments can range from monthly, quarterly, half-yearly to yearly.

In conclusion, the HDFC term plan can be chosen from a variety of best term insurance plans like Click 2 Protect Health and compare term insurance plans. Consumers are advised to research the insurance options before investing.