HDFC Life Click2Invest

About HDFC Life Click2Invest

HDFC Life Click2Invest, which is a ULIP, is an insurance-cum-investment plan that promises good growth of the policyholder’s money (if invested for a long period) besides providing life cover.

Let’s have a quick look at the plan:

How Does This Plan Work?

At first, the policy seeker decides on the amount of money s/he wishes to invest either monthly, quarterly, half-yearly, annually or through the single premium payment mode. Then a policy term between 5and 20 years has to be selected. The premium payment term can be any option out of 5, 7, or 10 years; premiums can also be paid annually. Basis the premium amount and the age of the policyholder, the amount of life cover is determined.

Now, the policyholder has 8 different fund options to choose from to invest his/her money in. Based on the invested amount and the chosen funds, s/he will be allocated units of these funds. The value of these funds will dependon the NAV declared on a daily basis. This helps the policyholder keep a track on his/her investments.

It is important to note here that the policyholder cannot withdraw their investment for at least 5 years.

Maturity benefit

This is how (illustration follows) the policyholder would receive their Fund Value on maturity.

Amit holds 1,000 units with an NAV of INR 53.26. His fund value would amount to 1,000 * 53.26 = INR 53,260. Amit can withdraw this money, but only after a period of 5 years. In order to reap larger benefits, it is advised to stick with this plan for a long period of time.

Death benefit

In case of an untimely passing away of the policyholder, the nominee will stand to receive the highest among:

• Fund value
• Sum assured
• 105% of premiums paid

Partial or complete withdrawal

At any time after the completion of 5 years of the policy term, the policyholder, provided s/he has crossed the age of 18 years, can make a partial or complete withdrawal of their funds.

Why Should You Buy This Plan?

HDFC Life Click2Investis an investment-cum-insurance plan that offers flexibility in choosing the premium payment termand fund options. Besides, there are other advantages of choosing this plan, which are detailed here:

Premium redirection

At any time during the policy term, the policyholder can pay their future premiums to buy units from the funds of their choice. A maximum of 4 free premium redirections are permitted in a year.

Policy revival

If the policyholder has missed premiums, due to which the policy has been renderednull and void, then by paying all the missed premiums, the policy can be revived.

Who Should Buy This Plan?

An individual falling within the age bracket of 30 days to 65 years looking to invest for higher returns alongside getting life cover to ensure financial safety of his/her family in the event of an untimely death should opt for HDFC Life Click2Invest.