Term insurance is an option to provide more coverage at a lower premium. After completing the term, you do not get anything in return. We can call it the option of pure coverage. If death takes place between the terms of the person taking the insurance, then the nominee gets the sum insured.

If a young 30-year-old wants to take the cover of 50 lakh for the next 30 years, then he may have to pay an annual premium of INR 11,500/-. If the policyholder survives till the age of 60, he will not get anything. If the policyholder dies in the meantime, the insurer will give 50 lakh rupees to his family members or to the nominee.

Term insurance plans are usually inexpensive insurance policies that offer full protection, coverage and monetary strength to the policyholder’s loved ones in the event of any unexpected happenings. HDFC term insurance plans and strategies in India meet the policyholder’s requirements.

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What is Term Insurance Policy?

The term insurance policy is a type of life insurance presented by an insurance enterprise which gives monetary coverage to the policyholder for a certain period of time. In the event of the policyholder’s death at the time of policy, then the assured money will be paid by the insurance company to its nominee.

Among all the other life insurance policies, the term insurance policy provides the maximum coverage at the lowermost premiums.

The term insurance policies not only help your loved ones to remain monetarily independent, but it also able them to fulfill their future requirements, when you won’t be there anymore for them.

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How Does The HDFC Term Insurance Plan help you?

HDFC term insurance plan provides us the benefit of life insurance protection at an inexpensive premium.

In the Riders covering different hazards, for instance, mishap are accessible and can be joined to term designs and give a lot more extensive security to your family.

Types Of HDFC Term Insurance Plan:

There are three different types of HDFC term insurance plans available in the market. These HDFC term insurance plans are CSC Suraksha Plan, Click 2 Protect Plus Plan, Click2Protect 3D Plus Plan. Let’s talk about these three types of HDFC term insurance plans below.

Source :- policyplanner . com

Click 2 Protect Plus Plan

This Type of HDFC term insurance plan gives 4 cover options. These are:

1. Income Plus Option
2. Life Option
3. Income Option
4. Extra Life Option

Under this type of HDFC term insurance plan, the death benefit is 125% higher of sum assured or single payment for such plans. For the regular pay plans, the death benefit will be higher than the assured sum or 10x of its annual payment.

This term HDFC insurance plan allows the insured to raise the assured sum if needed for child birth, marriage, and so many other needs without any hassle. In case of marriage, up to 50% of the assured sum can be raised and in case of child birth, up to 25% of the assured sum can be raised under this HDFC term insurance plan. The policyholder can also decrease some extra unnecessary coverage from the term plan if he or she wishes to. Payments paid in this HDFC term insurance plan are exempted from tax under the Section 80C of Income Tax Act, 1961.

Policy Term:

Minimum 10 years to maximum 40 years

Entry And Maturity Age:

Minimum 18 years to maximum 65 years for entry age; and minimum 28 years to maximum 75 years for maturity age.

Sum Assured:

Minimum INR 25 lakhs to there is no maximum limit.

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CSC Suraksha Plan

The CSC Suraksha plan under the HDFC term insurance plan is especially aimed for rural areas. This type of HDFC term insurance plan gives an assured sum to the nominee in case of the policyholder’s death. In this case, the nominee obtains greater assured sum or 10x of the annualized payment or 105% of the total payments paid in the term as on the date of the policyholder’s death. You can also avail tax benefits on the payments paid, under the Section 80C of Income Tax Act, 1961.

Policy Term:

Minimum 5 years to maximum 15 years

Entry And Maturity Age:

Minimum 18 years to maximum 55 years for entry age; and minimum 23 years to maximum 60 years for maturity age.

Amount Of Annual Premium:

Minimum INR 112/-

Sum Assured:

Minimum INR 30,000/- to maximum INR 2,00,000/-

Source :- moneylife . in

Click2Protect 3D Plus Plan

Under this Type of HDFC term insurance plan gives 9 cover options. Here are the options are given:

1. 3D Life Long Protection Option
2. iLife Option
3. Extra Life Option
4. 3D Life Option
5. Extra Life Income Option
6. Income Option
7. Return of Premium Option
8. Income Replacement Option
9. Life Long Protection Option

In this type of HDFC term insurance plan, the policyholders are given diagnosis and death benefits in case of fatal disease, maturity benefits and benefit of accidental death.

This term HDFC insurance plan allows the insured to raise the assured sum if needed for child birth, marriage, and so many other needs without any hassle. In case of marriage, up to 50% of the assured sum can be raised and in case of child birth, up to 25% of the assured sum can be raised under this HDFC term insurance plan. The policyholder can also decrease some extra unnecessary coverage from the term plan if he or she wishes to. Payments paid in this HDFC term insurance plan are exempted from tax under the Section 80C of Income Tax Act, 1961.

Policy Term:

Minimum 5 years to maximum 40 years

Entry And Maturity Age:

Minimum 18 years to maximum 65 years for entry age; and minimum 23 years to maximum 75 years for maturity age.

Sum Assured:

Minimum INR 10 lakhs to there is no maximum limit.