Our lives are filled with twists and turns not knowing what will happen the next second. Anything might happen to us in the next minute. But it is compulsory to have any safety precaution that is insurance policy. Choosing an insurance policy should be done systematically. It is definitely a great big task for all of us. Because it comes with us for our lifetime, there are many insurance policies which are available for us at present, motor insurance, health insurance, travel insurance, medical insurance and much more. In this article let us have a look about HDFC life Click 2 wealth
HDFC Life Click 2 Wealth
HDFC is India’s leading private sector banking organisation, which has been serving people for many years. Apart from banking services they also provide insurance policies for customers. The policies provided by them are efficient and are responsive. The customers are satisfied by this policy. HDFC Life Click 2 wealth is a unit linked plan. It is the only plan which consists of boosters in which the policies which we have registered can be developed more. It consists of death benefit, maturity benefit and transfer plans let us briefly discuss about this policy.
Benefits of HDFC Life Click 2 Wealth
HDFC life click plan is a comprehensive plan and has a wide range of benefits. The plans are comprehensive plans which cannot be found in any plans. They are unique and have special features.
Maturity benefits
After the maturity period ends you will receive guaranteed sum assured plus additional bonus. Compound revisionary bonus will acquire from every 1st year of policy anniversary and will be declared annually by the branch office. It can be payable after death and ending of the maturity period. Maturity benefits are the amount that can be availed after the completion of tenure. It is calculated by sum assured and bonus benefit. It is payable to the owner of financial obligation. This can be availed during the end of policy period. And after the completion of period the lump sum amount can be availed. The claim which rises during maturity period is called maturity claim. Maturity value can predict the amount that can be received on future. The other name of maturity value is called face value.
Death benefit
Death benefit is an amount given to beneficiary when they die. In case of any unfortunate death, the sum is paid 10 times higher. And 1.5 times higher than sum assured. This policy is flexible compared to any other policies. The nominee is also paid equal amount as rider. A grace period of 15 days is given after the maturity period is over. During this period your policy is considered to be force with risk. If your policy remains unpaid after the grace period there are lots of chances to get lapsed. And there is no further value, except non forfeiture provisions which is the first year of the policy which is not paid. The policy can be surrendered during any time of the policy. The lump sum amount can be availed within few days. India first life insurance the death benefit plan offers 10% more amount, and also gives financial assistance for a long period of time. This policy is compulsory for every customer because it is very beneficial for the customers. Because it is 7 to 10 times the annual salary, it is calculated by subtracting 100% of the deceased workers income. And if he receives pensions it is equal to five times his pension. The child, the spouse of the deceased can claim for funeral claim this deals with funeral expenses of the deceased
Invest plus option
This option is the most essential is one of the most essential options in HDFC. This it provides life cover and safeguard our investment. By providing a lump sum amount at the end of the maturity period, on invest plus option fund boosters are provided in this plan. After the policy period is completed you will be sufficiently satisfied. Because you will have a large number of benefits after the policy period, these benefits can be further used for future uses and can be used to aid unforeseen circumstances
Premium waiver option
In case if the purchaser dies suddenly. All premium payments shall be surrendered. That is amount to be paid in future will be surrendered. This option makes sure that the allocated fund grows gradually. And will take care of the future financial needs.
Golden years benefit
During retirement or after retirement, we would require monetary requirements we need to have back up plan. This plan is a right choice for retirement benefit because it provides back up after retirement. And also provides systematic withdrawing facility. This is provided up to 99 years of age.
Key feature Key features
- Plan type- non participating non linked endowment plan
- Plan based on individual and insured person
- Premium paying terms regular payment
- Policy period is from 10 to 40 years
- Premium payment frequency is done yearly, half yearly and quarterly
- Grace period is for 30 days
- Sum assured up to 5 crores
Charges in HDFC plan
Fund management plan
Certain amount of fund is allocated to the individual by the insurer. This charge is levied to the fund which is allocated to the individual to maintain the fund which is given to the individual.
Mortality charge
If an individual dies suddenly due to unforeseen situation the death benefits are provided by HSBC. Apart from that the company charges certain amount after demise. The funeral expenses, post medical charges and in case if any post-mortem charge need to paid by the individual. This charge should be paid within a week time. This is a protection upon death cover this is also called actual cost of insurance cover and it is paid during the period of death. This charge is compulsory charge which is imposed by the insurer
Advantages of HDFC Life Click 2
The policy of HDFC life click is a comprehensive policy compared to other policies. The policies are extensively designed to solve the problems and issues of the individual. The policies established by HDFC life click 2 are flexible that is the individual can choose between a wide range of options there are many choices given to the individual. Various bonuses like terminal bonus and accrued bonus. Other benefits like maturity benefit and death benefit are also provided.
Disadvantages of HDFC Life insurance
Though we have technological developments, there is technological illiteracy still prevailing in our society. Many people are not aware how to apply and the application process. All process is done through online process. And the policy updates often, many people do not know the latest trends in the policy. There is lack of privacy as well. Many of the personal details are uploaded online which can be easily hacked. Many people in the rural areas do not have access to internet compared to the urban areas. These are the difficulties which are faced during the policy term.
Exclusions of the policy
The general ageing which is caused due to wear and tear are not covered in this policy. This policy is valid only in India. This policy is not valid if the accident occurs outside the geographical limits of India. If the driver does not have driving licence it is considered invalid. Accidents which are caused due to alcohol or usage of drugs are not covered in this policy. Damages occurring due to mechanical or electrical breakdown, radioactive emissions, nuclear emissions are not included. Any sort of wanted damage and suicidal death are not covered by this policy, because it is self injury. If the damage occurs due to war or any breakdown it is not covered by this policy.
Additional riders for HDFC
These riders safeguard us during any sort of financial emergencies the additional riders are HDFC life click 2 wealth policies, HDFC critical illness plus rider, income benefit rider, accident disability rider.
How to apply for this policy
This policy can be applied in both online and offline mode. You can visit the website and fill in the details and choose your policy that you prefer.
Premiums for HDFC Life Click 2
This plan ranges from single, monthly, quarterly, half yearly and annual installement. This completely depends upon the individual’s status and flexibility. To calculate premium we can visit the website and check out the premium calculator online.
Renewal process
The renewal process is a very simple process. It is cost effective and less time consuming, the process of renewal requires less amount of time and can be renewed within a short span of time. Initially you must go to the insurance website and on the right side of the tab you can find the renew option. Click on that option and fill in details like policy number, policy form and your name and submit a copy of your valid documents. There is large number of policies that you can choose; you can choose any policy according to your convenience and pay the amount online. The renewal process has to be done for your insurance policy. It can be done even after expiry of insurance policy. But you need to submit a copy of your registration certificate before 60 days prior to the date of expiry. The policy would not expire till 15 years. After 15 years you need to renew the policy or else your insurance policy will not be valid. When you renew your insurance policy you can also receive some new features of the policy, which will be beneficial for you.
You can pay the premium only through online mode
- Credit card
- Debit card
- NEFT
- RUPAY
- Bill collection
- MNC drop box
- Infinity
- Bank website
Initially you need to enter your policy details and your personal information and you need to select your bank account. And authenticate your details. If online mode is not applicable in your location due to internet connection, payment can be availed through offline mode. You can visit the nearest bank and fill the challan details. And the receipt can be submitted in the nearby branch office for proof. But online mode is much better compared to offline. Because it is paperless process and the transaction can be performed within a fraction of seconds. But in offline mode of transaction it might take time for transaction because many people may wait for transaction and it might be a tiring moment for payment
How to check status of policy?
You can check status of your policy through email or SMS. Click on the link and choose your policy. You will get into a new website click on the top right section and enter your login id and password to renew check status
Why should you apply for HDFC insurance?
Having such a complicated life we might not know what might happen the next minute. We might require financial resources during an emergency situation. It is very difficult to receive financial aid during emergence an insurance policy from India first will be of great help during emergency situations. Their policies are wonderfully structured which is of great use during emergency situations. Their plans are extremely flexible and they are not rigid compared to any other policies. They are issued within few weeks of application. Due to hectic life situation we might not a lead peaceful life in future. It is also good having an insurance policy which is efficient for our use. Insurance policies include motor insurance, two wheeler insurance, four wheeler insurance, travel insurance and health insurance. They provide monetary support during emergency situation. Which might include sudden accident, death; admission for higher education and schools and final travel insurance, these policies will be a benefit for every one of us. But choosing the policy is definitely a task for our people. Most of the insurance policies are comprehensive plans are efficient.