Sunday, May 10, 2015


“I've ensured that my family will never have to adjust (after my death)”

Consider this real life instance:-

Mr. Ravi met with a fatal accident at the age of 47. He left behind a family consisting of his wife; a son aged 15 years and aged parents.  The death claim on his term insurance policy of Rs. 10 lacs was settled within 15 days.
The dilemma facing the family was—how to continue with the daily life with just Rs. 10 lacs in hand and no other source of income?

HDFC Standard Life Insurance Company Limited has an answer. Its Click 2 Protect Plus policy ensures that the family continues to live a life with “sar uthaa ke jiyo”.

It’s a term plan with a twist. It ensures lump sum payment along with monthly income upon the death of the life insured quite unlike normal term plans which involves only lump sum payout as death claim.

This plan provides a benefit amount in the unfortunate event of death of the Life Assured anytime during the policy term. This amount would help the family to pay any outstanding debts or fund the day to day expenses, thus easing the financial worries of your family. In addition, it provides for monthly payouts to the nominee to meet regular expenses.
  • Key features of this policy:-
    • Minimum Entry age                                18 years
    • Maximum Entry age                               65 years
    • Maximum maturity age                           75 years

  • Plan Options:-
    • Life Option                 Death benefit is paid and policy terminates.
    • Extra Life Option       Death benefit along with Accidental death benefit(if death is due to an accident
    • Income Option         10% Death benefit is paid on death while the remaining amount is paid as monthly income for the next 15 years.
    • Income+ Option       Basic Sum Assured is paid on death AND an amount equal to 0.50% of the Sum assured is paid for the next 10 years. This monthly income increases by 10% every year—if opted for by the policy holder.


Premium for a 30 year old male for a Sum Assured of Rs. 1 crore and term of 40 years works out to Rs. 16,951/-(excluding taxes) (under income + option).

Upon death of the life assured the nominee will receive the following amount:-
  1. Sum Assured Rs. 1 crore
  2. Monthly payouts of Rs. 50,000 (@0.50% of the Sum Assured) for the next 10 years. This will increase @10% annually.

Cost of securing family’s future—roughly Rs.1500 per month---equivalent to cost of watching a movie in a multiplex with family--a must have policy for every family bread winner.