HDFC Life Click 2 Portect Ultimate - A Non-Linked, Non-Participating, Individual Pure Risk Premium/Savings Life Insurance Plan, 100% claim assurance.

 

For any query or help, please contact a Government-certified HDFC Life insurance advisor on WhatsApp number 91 9899423601

HDFC Life Click 2 Protect Ultimate is a non-linked, non-participating individual life insurance plan offering pure risk premium and savings benefits. It's a term plan securing your family. Key Features: The Ultimate Claim Assurance guarantees a 100% claim payout if the policy is active and all premiums are paid (exceptions apply per Part F exclusions), ensuring a transparent, reliable, and hassle-free process. The Life Cover includes a Terminal Illness Benefit after a six-month waiting period. Hassle-Free Claim Procedure. The Return of Premium option refunds all premiums paid upon maturity, provided the policy survives to maturity, available for an extra cost. Provides acceleration of the Death Benefit for specified terminal illnesses, up to age 80. Option to receive Death Benefit in Instalments.

Eligibility:
Min. Age at Entry	18 years
Max. Age at Entry	50 years
Min. Age at Maturity	18 years
Max. Age at Maturity	85 years
Min. Policy Term	Single Pay: 1 month. Regular Pay: 2 years. Limited Pay: 3 years
Max. Policy Term	40 years
Min. Basic Sum Assured	INR  1,00,00,000
Max. Basic Sum Assured	INR  3,00,00,000
Premium Payment Term (PPT)	Single Pay, Regular Pay, and Limited Pay.
Premium Payment frequency	Monthly, Half-yearly,  Quarterly and Annually.
Note: Ages are as of the last birthday; risk starts on the contract date. Minimum/Maximum premium aligns with Minimum/Maximum Sum Assured. Premium varies by plan option. Non-annual premiums are the annual premium times a website-specified conversion factor.

Benefit Payable: If the policy is in force and all premiums have been paid, the Life Assured is covered for a death benefit, which can be accelerated upon diagnosis of a terminal illness (subject to the "Terminal Illness benefit" conditions). Example: Mr. Anil, 35, bought HDFC Life Click 2 Protect Ultimate for a 40-year term, regular pay, with a Level Cover of ₹1 Crore. He paid an annual premium of ₹23,038 (excluding taxes). If he dies in the 7th year, his nominee receives the lump sum benefit of ₹1 Crore. Total Premiums Paid: ₹1,61,266.

Death Benefit: If the life assured dies during the policy term, the "Death Benefit" is paid as a lump sum, the highest of: Sum Assured on Death or 105% of Total Premiums Paid. Sum Assured on Death: Single Pay (SP): Highest of 125% of Single Premium, Sum Assured on Maturity, or Basic Sum Assured. Other than Single Pay (Limited/Regular Pay): Highest of 10 times the Annualized Premium, Sum Assured on Maturity, or Basic Sum Assured. Definitions: Annualized Premium: Yearly premium (excluding taxes, rider premiums, extra premiums, and modal loadings). Total Premiums Paid: Total premiums received (excluding extra premiums, rider premiums, and taxes), including base and additional options. Sum Assured on Death: Guaranteed benefit payable upon death. Basic Sum Assured: Sum assured chosen by the policyholder. Sum Assured on Maturity: Guaranteed amount payable upon policy maturity.

Terminal Illness Benefit: The Terminal Illness Benefit accelerates the Sum Assured on Death, up to Rs. 2 Cr., upon diagnosis of a terminal illness during the policy term, subject to a Waiting Period and not applicable after age 80. If the accelerated benefit equals the Death Benefit, the policy terminates. If the Death Benefit is higher, the policy continues for the balance amount. This acceleration is not an additional benefit, but an earlier payment of the Death Benefit. A life assured is considered terminally ill if two independent medical practitioners specializing in the illness believe death is highly likely within 6 months. The insured must not be receiving treatment other than palliative care for symptomatic relief. Diagnosis must be confirmed by Indian Medical Association-registered doctors approved by the Company, which reserves the right to conduct an independent assessment.

Maturity Benefit: If the policyholder survives until the Maturity Date, the following will be paid as the Sum Assured on Maturity: 100% of the Total Premiums Paid, if the Return of Premium option was selected. Nil (No benefit) if the Return of Premium option was not selected.

Additional benefits available under the Product: 1) Return of Premium (ROP) Option: By paying an additional premium, the policyholder receives 100% of the total premiums paid as a lump sum upon surviving till maturity. This option must be chosen at policy inception and is subject to the following Policy Term (PT) limitations based on the Premium Paying Term (PPT): PPT: Single, Regular, 5 Pay - PT: 10-40 years PPT: 6, 7, 8, 10, 12 Pay - PT: 15-40 years PPT: 15 years - PT: 20-40 years PPT: 20 years - PT: 25-40 years PPT: 25 years - PT: 30-40 years Once chosen, the option cannot be canceled.

2. Death Benefit as an Instalment Option: If chosen, the death benefit is paid to the nominee in installments. Conditions: Selectable by the policyholder at inception or by the nominee at claim time. Applicable to full or partial death claim proceeds. Instalments can be spread over 5 to 15 years. Instalments are paid in advance (yearly, half-yearly, quarterly, or monthly). The fixed instalment amount is calculated so that its present value, discounted using a specific interest rate, equals the portion of the death benefit opted for as instalments. The interest rate is the annualized yield on 10-year G-Sec (over the last 6 months & rounded down to the nearest 25bps) minus 25 basis points. It is reviewed half-yearly (effective 25th February and 25th August), and revised when the formula dictates, using the RBI NDS-OM segment as the source for the G-Sec yield. The nominee may terminate the installments early for a lump sum equal to the discounted value of all future installments, calculated using the applicable interest rate as of the termination date. No extra premium is required for this option.

3) Changing Premium Payment Frequency: The policyholder has the right to change how often they pay the premium at any point during the premium payment term.

4) Flexibility to Change Premium Payment Term: Regular to Limited Pay Policyholders may convert their remaining regular premium payments into a limited premium payment term under this plan. Any such change will comply with the Board Approved Underwriting Policy (BAUP), and the applicable premium rates will be those filed for the product.

Non-payment of Premiums: The policy remains active with risk cover during the Grace Period. The Grace Period is 30 days for yearly, half-yearly, and quarterly premium payments, and 15 days for monthly payments. If a valid claim occurs during the Grace Period but before the premium is paid, the claim will be honored, and the unpaid premium for the policy year will be deducted from the benefit payable.
Paid-Up Status: A policy becomes Paid-Up only if the Return of Premium option is selected with Limited or Regular Pay and at least one full year's premiums have been paid; otherwise, the policy lapses with no value. If Paid-Up: Death Benefit = Highest of: Sum Assured on Death × (Premiums Paid ÷ Premiums Payable) or 105% of Total Premiums Paid. Maturity Benefit (if applicable) = Sum Assured on Maturity × (Premiums Paid ÷ Premiums Payable). Surrender Value is the higher of Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV). Surrender Value (Return of Premium Option): Acquisition: GSV is acquired immediately for Single Pay (SP) or after 2 years for Limited/Regular Pay. SSV is payable after the first policy year (Limited/Regular Pay) or immediately upon policy issuance (SP). GSV = GSV Factor% × Total Premiums Paid. SSV is the expected present value of paid-up future benefits, using a discount rate (currently 7.75% p.a. based on 10-Year G-Sec + 50 bps). This rate is reviewed at least annually and applies to all policies. Where Return of Premium is not selected: Policy Cancellation Value (PCV) is acquired immediately for Single Pay, or after at least one full year's premiums and completion of the first policy year for Limited Pay. In all other cases, the policy lapses with no value. If PCV is acquired, it is payable: Upon the death of the life assured during the revival period, or At the end of the revival period, if not revived. Amount payable: PCV Factor × Total Premiums Paid × Unexpired Policy Term ÷ Original Policy Term Where PCV Factor is as follows:
Policy Year	PCV Factor
During PPT, or if all due premiums have not been paid	30%
Post PPT if all due premiums have been paid	50%
Note: If the premium payment term is changed to Limited Pay: Total Premiums Paid includes only premiums paid after the conversion date. Original Policy Term becomes the outstanding term on the conversion date. Unexpired Policy Term is calculated on the earlier of the surrender date or the date premiums were last paid.

Smart Exit Benefit: The Smart Exit Benefit allows the policyholder to receive the Total Premiums Paid by canceling the policy. This option is available in any policy year greater than 25, but not during the last 5 years, provided the policy is in force. It is not available if the Return of Premium option was chosen. If the premium payment term was changed, Total Premiums Paid includes only premiums paid after the conversion to Limited Pay. Revived policies are entitled to all contractual benefits.

Terms and Conditions: Exclusions:

a. Suicide Exclusion:  If death occurs due to suicide within 12 months of policy commencement or revival, the nominee/beneficiary receives the higher of: 80% of total premiums paid or the surrender value, provided the policy is in force.

**Age Admitted:** Premiums are based on the declared age. You must provide proof of age for the Life Assured to have the age confirmed ("Correct Age"). If the Correct Age differs from the declared age, the Company may take the following actions: (i) If the Correct Age makes the Life Assured ineligible: An alternative plan will be offered. If not accepted, the Policy will be cancelled, and the paid Premiums will be returned, minus expenses. (ii) If the Correct Age maintains eligibility: The difference between the revised Premium (based on the Correct Age) and the original Premium, plus interest, will be due at the next Policy Anniversary, with the revised Premium applying for the remainder of the term. Section 45 of the Insurance Act, 1938, applies.

c. Non-disclosure of Cancer. d. Non-disclosure of auto-immune diseases: Autoimmune diseases are disorders in which the immune system, which usually defends the body, mistakenly attacks its own cells and tissues, causing inflammation and damage to organs and systems.

C) Waiting Period:   The Terminal Illness Benefit has a 6-month waiting period from the Policy Risk Commencement Date; no benefit is payable if the diagnosis occurs within this period. D) Tax Benefits:   Tax benefits may apply to premiums and benefits under the Income Tax Act, 1961. Consult your tax advisor. E) Free-Look Period Cancellation:   Policyholders can return the policy within 30 days if they disagree with the refund terms, minus any applicable charges. Original documents are not needed for electronic policies. Extra premiums may apply for sub-standard lives and smokers. F) Policy Loan:   No Policy Loans are available.

G. *Nomination (Section 39 of the Insurance Act 1938)**:  A policyholder can nominate one or more persons to receive policy proceeds upon their death. If the nominee is a minor, the policyholder can appoint someone to receive the funds during the minor's minority. Nominations can be made at any time before maturity, either by inclusion in the policy or by endorsement and registration with the insurer.  Changes or cancellations to nominations can be made before maturity by endorsement, and written notice must be delivered to the insurer for the insurer to recognize the new nominee. A fee may apply for registering changes.  A transfer or assignment (Section 38) automatically cancels the nomination, except in cases of loans/security, where the nomination remains valid to the extent of the assignee's interest until repayment.  Section 39 does not apply to policies under the Married Women’s Property Act (MWP Act), 1874, unless a nomination is made for the spouse or children, which must be explicitly stated in the policy. Only Section 39 provisions will apply in such cases.

H. ### Policy Assignment (Section 38, Insurance Act 1938) Summary: A policy can be transferred or assigned, either fully or partially, with or without consideration, by endorsement or by a separate instrument. Notice must be provided to the Insurer. The assignment must include details about the transfer, reasons, assignee's information, and terms, along with signatures from the assignor or authorized agent and a witness. It is only effective against the Insurer after written notice and delivery of the original or certified copy of the endorsement. An assignment fee may be specified by the Authority, and upon receipt of the notice and fee, the Insurer must provide a written acknowledgment, which serves as proof of receipt. The Insurer can refuse assignment if it is deemed not bona fide, against the policyholder's or public interest, or for trading purposes. An appeal against this refusal can be made to IRDAI within 30 days. **Note:** This is a simplified summary. Refer to the full Section 38 of the Insurance Act, 1938, for detailed information.

I) Prohibition of Rebates: Section 41 of the Insurance Act, 1938, prohibits anyone from directly or indirectly offering or accepting any rebate on commissions or premiums as an inducement to buy, renew, or continue an insurance policy in India, except those allowed by the insurer's published documents. Violating this section can result in a penalty of up to ten lakh rupees.

J. **Non-Disclosure (Section 45 of the Insurance Act, 1938):**   A life insurance policy cannot be questioned after three years from its issuance, risk commencement, revival, or rider date. Within this period, a policy may be challenged for fraud if the insurer informs the insured/beneficiaries in writing.  If the insured demonstrates that any misstatement was unintentional or known to the insurer, the policy cannot be repudiated for fraud.  In such cases, if the policyholder is deceased, the burden of proof shifts to the beneficiaries.  A policy can also be questioned for incorrect information about material facts affecting life expectancy, with the insurer required to communicate the grounds in writing.  If a policy is repudiated for misstatement (not fraud), premiums must be refunded within ninety days. This section does not prevent the insurer from verifying the policyholder's age, and adjustments based on accurate age do not constitute questioning the policy.

K) Fraud or Misstatement:  Policy cancellation and Surrender Value payment upon establishing fraud or misstatement, as per Section 45 of the Insurance Act, 1938. L) Insurance Laws Amendment Ordinance, 2014:  This is a simplified summary. Refer to the Original Ordinance Gazette Notification (December 26, 2014) for complete details. M) Taxes: Indirect Taxes: Applicable taxes and levies, including future ones, will be payable by you, potentially as an additional charge tothe premium. Direct Taxes: Tax will be deducted from policy payments under the Income Tax Act, 1961.

N) Electronic Insurance Account (eIA): Policyholders can now hold life insurance policies from any insurer in a dematerialized form via a password-protected online Electronic Insurance Account (eIA). This common platform allows access to policies, facilitates online premium payments and address changes, and waives the need for KYC documents for future policy purchases with any insurer. For more on eIA, visit http://www.hdfclife.com/customer-service/life-insurance-policy-dematerialization.

O) Grievance Redressal: Contact us via: Helpline: 022-68446530 (General) | +91 89166 94100 (NRI) (Call Charges apply) Email: service@hdfclife.com | nriservice@hdfclife.com (NRI) Written/In-person: Submit a signed letter to a Grievance Redressal Officer at any HDFC Life Branch (details: https://www.hdfclife.com/contact-us#BranchLocator; closed Sundays/holidays). Email (Registered ID): Write to service@hdfclife.com. Website: Visit https://www.hdfclife.com/customer-service/grievance-redressal. If unresolved within the time limit, refer to the escalation matrix. If still not satisfied, contact the Insurance Ombudsman in your region. For full details on our mechanism and the Ombudsman's address, see Part G of the policy document.

Disclaimer: This summary is derived from information provided on HDFC Life's official website, www.hdfclife.com. The author aims for accuracy; however, they do refuse any responsibility for any errors or omissions, nor for the consequences of actions taken based on this information. The key features highlighted here are condensed using AI tools and do not constitute a comprehensive overview of the policy. For the most up-to-date and precise information, consult the official HDFC Life website before making any financial decisions.

About the Author: Arvind Kumar

For any query or help, please contact a Government-certified HDFC Life insurance advisor on WhatsApp number 91 9899423601

Arvind Kumar is a certified Financial Consultant and Life Advisor at HDFC Life Insurance Company, providing expert insurance advice that adheres to IRDAI regulations. He offers complimentary consultations and specializes in personalized planning for various insurance needs, including survival, critical illness, and death benefits. Arvind emphasizes the importance of securing insurance before major life events to ensure adequate protection. For personalized discussions about your insurance requirements, you can reach him at +91 9899423601 or via email at apcsitbranju@gmail.com.

The bottom lines: Customized insurance planning is crucial for safeguarding yourself and your loved ones against unexpected financial losses. It's important to prepare for unforeseen events thoughtfully to ensure long-term security. Wishing you a future rich in health, happiness, and prosperity!