HDFC Life Click 2 Wealth

1. What is HDFC Life Click 2 Wealth?
HDFC Life Click 2 Wealth is a Unit Linked Non-Participating Individual Life Insurance Plan that comes with three plan options – Invest Plus, the classic wealth creation option, Premium Waiver option, wherein the future Premium(s) are paid by the Insurer in case of death of the Premium Payor (different from the Life Assured) & Golden Years Benefit option which provides life cover till 99 years of age.

2. How does Premium Waiver option work?
Under Premium Waiver option, Policy Proposer is different from the Life Assured under the policy. This plan waives off all future Premium(s) in the case of proposer's death. The future premiums are paid off by us to ensure that fund does not stop growing. The Policy continues with risk cover for Life Assured and the accumulated Fund Value is paid on Maturity. This plan is appropriate for an investor who doesn't want any interruption in creating a corpus for achieving the long-term goals of his dependents.

3. How does Golden Years Benefit option work?
Under Golden Years Benefit option, the Life Assured has to pay the Premium(s) for a limited term (till the age of 70 years at max) to enjoy life cover till the age of 99 years. The Policyholder can also opt for Systematic Withdrawal facility to generate recurring post retirement income for the accumulated fund.

4. What are the charges under this plan?
Charges:
•    Premium allocation charge:  NIL
•    Policy administration charge:  NIL
•    Fund Management Charge:  0.80% p.a. of the fund value for Liquid Fund, Bond Plus Fund & Secure Advantage Fund and 1.35% p.a. of the fund value for Diversified Equity, Blue Chip, Balanced, Bond, Discovery, Equity Advantage, Opportunities Funds charged daily.
•    Mortality Charge:  The amount of the charge taken each month depends on ages of the life assured & the Proposer (for Premium Waiver option) and level of cover.
•    Partial Withdrawal charge:  NIL
•    Switching charge:  NIL
•    Premium Redirection Charge:  NIL
•    Discontinuance charge:  NIL
•    Miscellaneous Charge:  NIL
•    Taxes and Applicable Levies:
 
As per the current Tax Laws, Goods & Services Tax and other statutory levies are applicable. Tax laws are subject to changes.

​​​​​​​5. Where is the premium amount invested?
HDFC Life Click 2 Wealth gives you option of 11 different Funds to invest your money. Each fund has its own Investment policy, based on asset allocation between equity, debt and money market instruments. You can invest in a combination of funds by allocating your fund between different fund options. Also, you can switch between funds using fund switch option at any time without any charge.

6. Is there option for STP?
You can choose to avail Systematic Transfer Plan (STP) which gives you the benefits of rupee cost averaging. The transfer will be done in 12 equal installments. The transfer date can be either 1st or 15th of every month as chosen by you.

7. Can I Top-up my premiums once the policy is active?
You have the option of paying Top-up Premium(s) in this policy. Total Top-up should not exceed the sum total of the regular/ limited premiums paid at that point of time or initial Single Premium paid. Top-up premiums are not permitted during the last 5 years of the contract. Top-Up Premium will carry a Sum Assured of 125% of the amount of Top-Up Premium.

8. What is the Settlement Option?
The Policyholder has the option to take the Maturity benefit in periodical installments over a period, which may extend to 5 years, first installment payable on the maturity date.

9. Do I get any benefit on Survival?
On survival of the Life Assured till the end of the Policy Term (maturity) under all options, LA will receive the Fund Value as a Lump Sum benefit.

10. How is Fund Value calculated?
Fund Value will be calculated by multiplying balance Units in your fund(s) by the then prevailing Unit Price(s).

11. What is the death benefit?
Sum Assured on death is payable as a Lump Sum on death of the Life Assured during the Policy Term.
Sum Assured on Death of the Life Assured is the highest of:
•    Total Sum Assured less an amount for Partial withdrawals* made, if any, where Total Sum Assured is Basic Sum Assured plus any additional Sum Assured in respect of Top-ups
•    Total Fund value
•    105% of Total Premium(s) paid
•    On death of the Proposer (for Premium Waiver option only):
In case of death of the Proposer for a premium paying policy, all future premiums are waived. On each future premium due date(s), an amount equal to the modal premium shall be credited to the Fund Value. The Policy shall continue until maturity with risk benefits continued on the life of the Life Assured. Upon maturity, the Maturity benefit shall become payable.
*The partial withdrawals to be deducted from the Total Sum Assured shall be: All partial withdrawals (except from the top-up fund value) made during the two year period immediately preceding the date of death. Upon payment of the Death Benefit, the Policy shall terminate and no further benefits are payable

12. How do Systematic (Recurring) withdrawals work?
The Policyholder can submit a request for Systematic withdrawals during the Policy term. Under this, at the selected payout frequency, an amount selected by the policyholder will be deducted from the fund and paid out to him. The customer can use this option to generate a supplementary guaranteed income.

13. Is there an option for partial withdrawal in case I am in need of funds?
You can withdraw money from your Funds to meet any future financial emergencies. Lump Sum partial withdrawals can be made from your funds after 5 complete policy years, provided the Life Assured is at least 18 years of age.

14. Can I surrender this policy?
Yes,you can Surrender your policy subject to lock in period of 5 years. Once you surrender your policy, your risk cover will cease and surrender benefit will be paid out depending upon the year in which the policy is surrendered. Please refer to product brochure for more details.

15. Is there a loan facility in my policy?
No policy loans are available for this product.

16. Can I save tax by investing in this policy?
Premium(s) paid by an individual or HUF under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961, subject to the conditions/ limits specified therein. Under Section 10 (10D) of the Income Tax Act, 1961, the benefits received from this policy are exempt from tax, subject to the conditions specified therein.
Please note that the above mentioned benefits are as per the current tax rules. Your tax benefits may change if the tax rules are changed. You are requested to consult your tax advisor.

HDFC Bank Limited (IRDAI Registration No: CA0010) is the Corporate Agent of HDFC Life Insurance Company Limited and does not underwrite the risk or act as an insurer. HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Participation by the Bank’s clients in the Insurance products is purely on a voluntary basis. The contract of Insurance is between HDFC Life and the Insured and not between HDFC Bank and the Insured.This policy is underwritten by HDFC Life Insurance Company. Registered Office: 13th Floor, Lodha Excelus, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai - 400 011. The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited.HDFC Life Click 2 Wealth (UIN:101L133V03) is A Unit Linked Non-Participating Individual Life Insurance Plan HDFC Life Income Benefit on Accidental Disability Rider (UIN: 101B013V03) and HDFC Life Critical Illness Rider (UIN: 101B014V02) are the names of the riders. Life Insurance Coverage is available in this product. For more details on risk factors, associated terms and conditions and exclusions please read sales brochure carefully before concluding a sale. Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. ULIP Issued on or after 1st February 2021 where the annualised premium exceeds Rs 2.5 lakh at any time during the premium paying term, the amount received on maturity shall not be entitled for exemption under section 10(10D) of the Income-tax Act, 1961. However, death benefit received shall be exempt u/s 10(10D). Tax benefits are subject to changes in the tax laws. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding the sale. HDFC Life Insurance Company Limited is only the name of the Insurance Company, HDFC Life is only the name of the brand and HDFC Life Click 2 Wealth (UIN:101L133V03) is the name of the Unit linked product. The name of the company, name of the brand and name of the contract does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.