Pawan Sinha (34), a sales professional with one of the top multinationals in the country, has always been very organised in his approach. A responsible individual, he’s never really been callous, ever since he graduated from IIM Ahmedabad. A well-paying job, a loving family, and a strong investment portfolio — he has everything in order, you may think. Isn’t it? Well, he thought so too, until his family suffered a setback and threw his life off track. 

A few years ago, Sinha had purchased a 1 crore insurance, and while that may look like a huge sum, it didn’t prove to be adequate. Do NOT rub your eyes in disbelief, because this is truly not a joke! During the financial crisis, Sinha had to incur out-of-pocket expenses to a large degree, and that made him realise he wasn’t as prepared as he may have thought himself to be! He also had to make compromises to his family’s lifestyle, which in turn, impacted the quality of his son’s education. 

It is at this point that he realised that #AdhuraNahiPuraLifeInsurance is critical for all-round protection. 

But what really went wrong? That’s exactly what we aim to cover in this piece. 

Focusing on the gaps

Move over the days of roti, kapda, and makaan being the bare necessities. Accounting for healthcare and education is equally important today. If like Sinha, you too think you have a deep pocket, tread this terrain cautiously. While a Rs 1 crore insurance seems fair enough, why did it not suffice? Because the life cover that was accounted for did not take into consideration inflation, the standard of living, as well as debts and liabilities. In a nutshell, that means you do NOT have 100% protection. 

You may have a legitimate question: how do you really know what cover you might need in the future? Well, the Human Life Value Calculator by HDFC Life has your back! All you need to key in are your personal and financial details, and voila, you are sorted. You have your ideal sum assured available within minutes! 

But while this is important, it is also critical to have a good life insurance plan that doesn’t just cover your needs, but is also flexible and adjusts to your uncertainties. And as we all know, Covid-19 has brought on uncertainties like no other. You don’t even know what’s going to happen the next moment! 

Investing in HDFC Life Click 2 Protect Life Term Plan is a wise decision, especially with the flexibility they provide to choose your policy and premium payment terms. 

Here’s what you need to know

You could choose any of the 3 options available with this product:

• Life Protect option:Under this option, you can enjoy basic protection for your family. The policyholder’s family receives a lump sum amount (Life cover), in case of death of the policyholder, during the policy term.
• Life and CI Rebalance option:This option provides a cover that strikes a balance between both the Death and Critical Illness benefit. The advantage here is that the critical illness cover increases every year with a corresponding reduction in life cover. Moreover, if you are diagnosed with any critical illness, all future premiums are waived off, but the life cover continues.
• Income Plus option: As part of this plan, the life assured is covered for the entire policy term. The policyholder also receives a lump sum payment on maturity, along with regular income of 60 onward. 

The benefits do not end there: 

• Enjoy credibility with a 98.01% Claim Settlement Ratio*
• Additional Sum Assured on Accidental Death 
• Receive premium(s) paid on survival till maturity with Return of Premium option
• Waiver of premium on diagnosis of critical illness
• Tax benefits as per prevailing tax laws
• Special premium rates for female and non-tobacco users

The last word

It is often said ‘a stitch in time saves nine’. This means you need to always be prepared for what lies ahead, so you and your family do NOT have to compromise on your lifestyle in any way! With the HDFC Click 2 Protect Term Plan, it’s time to avail #AdhuraNahiPuraLifeInsurance!