HDFC Life Click2Invest Plan

• Enjoy single/limited/regular pay
• 8 investment fund options
• Get fund value in lump sum or installments
• Minimal charges
• Access liquidity  through partial withdrawals
• Avail switching/premium redirection
• Hassle-free online buying procedure
• Avail tax benefits

This policy offers 8 investment funds and you have the option to invest in any one or combination of fund options.

• Equity Plus Fund
• Diversified Equity Fund
• Blue Chip Fund
• Opportunities Fund
• Balanced Fund
• Income Fund
• Bond Fund
• Conservative Fund

Death Benefit

In the event of death of the life assured while the policy is in-force, the nominee will receive the higher of Sum Assured, Fund Value or 105% of all the premiums paid. The policy terminates, after payment of Death Benefit.

Maturity Benefit

On survival of the life insured till the end of the policy term, the Total Fund Value is payable on the maturity date. You can receive this benefit as a lump sum or in installments by opting for ‘Settlement Option’

Settlement Option

On maturity, you can opt to receive your money in installments over a maximum period of 5 years, after the date of maturity. It provides you an option to remain invested in the funds beyond the policy maturity. Units are redeemed in 60 monthly installments beginning from the date of maturity. You also have the option to completely withdraw the fund value at any time during the settlement period. No life cover is applicable during this settlement period. Partial withdrawals and switches are not allowed during the settlement period. The Fund Value at maturity is Rs 1 lacs or above.

Alterations

Change of premium frequency is allowed. You have the flexibility to increase/decrease the sum assured. You also have the flexibility to increase the premium payment term or policy term.

Non-Negative Claw Back Additions

Non-Negative Claw Back Additions to the fund to ensure compliance with the reduction in yield as per Regulation 37(d) of IRDA (Linked Insurance Products) Regulations, 2013.

Switching

Switching can be done among 8 available fund options to suit your changing investment needs and it can be exercised anytime during the policy term.

Premium Re-direction

Premium Re-direction facility is available to alter future premium allocation and it will apply to your subsequent premiums.

Partial Withdrawal

Partial Withdrawal is allowed from 6^th policy year onwards and in case of minor lives, the life assured attains 18 years.

Bonus

This plan is not eligible for the bonuses.

Loan Benefit

No loan benefit can be availed under this plan.

Revival

You have an option to revive a discontinued policy within 2 consecutive years from the date of discontinuance of the policy. For the policy revival, you need to pay all due and unpaid premiums, as per underwriting policy.

Surrender Value

Upon surrendering the policy with-in the lock-in period of 5 years, the Fund Value less applicable discontinuance charges is credited to the ‘Discontinued Policy Fund’ and it is refunded upon completion of the lock-in period. The applicable fund management charge of the Discontinued Policy Fund is levied. The proceeds after addition of minimum guaranteed interest rate as stipulated by IRDAI is payable after the end of the lock-in period.

Upon surrendering the policy after the lock-in period of 5 years, the Fund Value as on the date of surrender is payable immediately and the policy then terminates.

No rider can be opted under this plan.

Premium Allocation Charges: No premium allocation charge is levied.

Policy Administration Charge: No policy administration charge is levied.

Mortality Charges: Mortality charge depends on age and level of cover. This charge is applicable for providing you with the risk cover.

Fund Management Charges: Fund management charge levied is a percentage of the Fund Value. It is 1.35% p.a. for all funds. This charge is subject to a maximum amount as allowed by IRDAI.

Discontinuance Charge: No such charge is levied.

Switching Charge: Switching up to 4 times in a policy year is allowed free of charge. The subsequent switches in the same policy year is charged with Rs 250 or Rs 25 when executed through the company’s portal.

Premium Re-direction: You can avail 4 free premium re-directions in a policy year. The subsequent re-direction in the same policy year is charged with Rs 250 or Rs 25 when executed through the company’s portal. You don’t have the option to carry forward the unused premium re-directions.

Partial Withdrawal Charge: 4 free partial withdrawals are allowed during a policy year. The subsequent partial withdrawal in the same policy year is charged with Rs 250 or Rs 25 when executed through the company’s portal.

All the charges mentioned above expect mortality charge may be revised, upon prior approval from IRDAI.

Tax benefits can be availed under section 80C & 10 (10D) under the Income Tax Act, subject to change in tax laws.

Mr. Kumar aged 35 years, is leading a happy life with his wife ananya and a daughter sanya. He wants to build a corpus amount, so his family can achieve their dreams such as sanya’s education, her marriage, etc. He also wants to ensure financial security of the family, in case of a mishap. He thus opts for HDFC Life Click2Invest – ULIP with the policy term of 20 years, premium payment term of 10 years, annual premium of Rs 50,000 and sum assured of Rs 5,00,000.

Scenario A- Maturity Benefit: In case of his survival till maturity of the policy, the Total Fund Value is payable on the maturity date. You can receive this benefit as a lump sum or in installments by opting for ‘Settlement Option’.

Scenario B- Death Benefit: In the event of his death during the policy term, the nominee will receive the higher of Sum Assured, Fund Value or 105% of all the premiums paid.