What is life insurance? why should you think about having one?

Life insurance is a contract between an individual and an insurance company where the individual pays a premium in exchange for a financial benefit to be paid to their beneficiaries in the event of their death. The primary purpose of life insurance is to provide financial protection to the policyholder's loved ones in the event of their unexpected death.

There are several reasons why someone should consider buying life insurance:

1. Financial protection: Life insurance can provide a financial safety net for loved ones in the event of the policyholder's death, helping them to cover expenses such as funeral costs, outstanding debts, and living expenses.

2. Income replacement: If the policyholder is the main source of income for their family, a life insurance policy can replace that income, helping to ensure that their loved ones can maintain their standard of living.

3. Estate planning: Life insurance can be used as a tool for estate planning, helping to ensure that assets are distributed according to the policyholder's wishes.

4. Business continuity: Life insurance can be used to protect a business in the event of the death of a key employee or partner, helping to ensure that the business can continue to operate.

5. Tax benefits: In some cases, the death benefit from a life insurance policy may be tax-free, providing additional financial benefits to the policyholder's beneficiaries.

6. Return of Premium: Some policies also offer a return of premium option, where if the policyholder survives the policy term, they will receive a lump sum amount of the premium paid.

It's important to note that life insurance is a long-term commitment, and it's important to consider the policyholder's current and future needs and budget before purchasing a policy. It's always recommended to consult with a financial advisor or an insurance agent for the best plan for an individual's needs.

HDFC Life Click 2 Protect 3D Plus

HDFC Life Click 2 Protect 3D Plus is an online term insurance plan that offers comprehensive security at an affordable price. 3D stands for the three uncertainties that we face at some point in time, i.e. Death, Disability and Disease. Avail this award winning term plan'' and secure your family. We have achieved 99.03%^ Claim Settlement Ratio for FY 2018-19

Why you need this Plan ?

• Provide financial security at an affordable price

• Ensure your family has comprehensive security always

• Maintain the family’s standard of living even in one’s absence

• Cover against the 3 uncertainties - death, disease and disability

Click 2 Protect 3D Explained

What are the key features of this plan?

• Provide financial protection to you and your family at an affordable cost

• Customize your plan with a choice of 9 plan options

• All future premiums are waived on Accidental Total Permanent Disability( available under all options ) and on diagnosis of Critical Illness (Available with 3D Life and 3D Life Long Protection options)

• Protect yourself for whole of life with lifelong protection option

• Flexibility to choose your policy and premium payment terms

• Life Stage Protection feature offers to increase insurance cover on certain key milestones without medicals Flexibility to increase your cover every year through top-up option

• Special premium rates for female lives

• Attractive premium rates for non-tobacco users

• Tax benefits* as per prevailing tax laws

CONNECT WITH US ON OUR LINKEDIN PAGE

Our services

In association with HDFC LIFE, we provide services to help private limited companies, partners and individual associates who are paying income tax to the government of amount 1 lac - 20 lacs or more, under insurance act. Mainly we help on following domains:

• Financial protection to the family / Business protection,

• Retirement plans with pension for life.

• Children education and career plans.

Coverage Options at HDFC Life

HDFC Life offers a wide range of coverage options for its term insurance plans, including:

1. Basic Life Coverage: This is the core coverage provided by the term insurance plan, which pays out a lump sum benefit to the policyholder's beneficiaries in the event of their death.

2. Accidental Death and Dismemberment Coverage: This rider provides additional coverage in the event of death or dismemberment caused by an accident.

3. Critical Illness Coverage: This rider provides a lump sum benefit to the policyholder in the event that they are diagnosed with a critical illness covered under the policy.

4. Waiver of Premium: This rider waives the premium payments in the event of the policyholder's disability or critical illness, ensuring that the policy remains in force.

5. Terminal Illness Benefit: This rider pays out a lump sum benefit if the policyholder is diagnosed with a terminal illness, regardless of whether they survive the policy term.

6. Return of Premium: This rider returns the premium paid by the policyholder if they survive the policy term.

7. Increasing Cover: This rider provides increasing coverage over time, which can help keep pace with the policyholder's changing needs and rising costs.

8. Premium Waiver on Accidental Disability: This rider waives the premium payments in the event of the policyholder's accidental disability, ensuring that the policy remains in force.

Above is the comprehensive list of coverage options available however, It's important to note that not all of these coverage options are available for all HDFC Life term plans, and the availability of these options may vary from plan to plan. It's always recommended to consult with a financial advisor or an insurance agent to understand the coverage options available for a specific plan and to determine the best plan for an individual's needs.

Contact us for more information