HDFC Life
Click 2 Protect Supreme Plus
HDFC Life Click 2 Protect Supreme Plus is a comprehensive term insurance plan designed to provide long-term financial protection with a wide range of customization options. It is an upgraded version of the earlier Click 2 Protect Supreme plan and introduces several additional features aimed at improving flexibility for policyholders. The plan offers three variants: Life, Life Plus, and Life Goal that allows buyers to choose between level cover, increasing cover, or decreasing cover structures depending on their financial needs. The plan also introduces new benefits such as premium break options for women, waiver of premium on accidental death of the husband (for female policyholders), child education income benefits, and enhanced life stage cover increases. Alongside these, policyholders also get features such as Smart Exit (zero cost exit), instant claim payout support, and wellness benefits through HDFC Life Rewards App. With an average claim settlement ratio of around 99.55 percent for FY2022-25, and strong operational metrics, the plan is positioned as a feature-rich option for those seeking long-term protection with flexibility.
Good Claim Settlement Ratio
HDFC Life settles 99.55% of claims of the total number of claims it receives as compared to the industry average of 97%. A pretty good number overall.
Good Complaints Ratio
HDFC Life receives 1.33 complaints (per 10,000 claims registered) as opposed to the industry median of 17 complaints. Pretty good figure overall.
Good Amount Settlement Ratio
Some insurers pay out the smaller claims while declining to pay out the few higher-value claims in a bid to improve the claim settlement ratio. So you will need to look at the total amount settled as a percentage of the total amount claimed. HDFC Life meanwhile has an amount settlement ratio of 96.7% as opposed to the industry average of 87%. Pretty good figure overall.
The aforementioned ratios have been averaged over three years for every insurer and the industry as a whole.
What's good here?
Zero Cost Option Available
Some insurers will return all your premiums if you forego your policy before maturity, during a period specified by the insurer. Meaning you get all your premiums back, while also being protected under the term plan during this time. And Click 2 Protect Supreme Plus extends this option.
Premiums waived after permanent disability (due to accident) or critical illnesses
Some policies waive all future premium payments if you are ever disabled (due to accident) or diagnosed with a critical illness. And Click 2 Protect Supreme Plus extends the waiver-of-premium option in both cases.
What's okay here?
Decent Critical Illness Benefit
If you're ever diagnosed with a debilitating illness, you would want your insurance policy to pay a fixed sum so that you can deal with any monetary obligations you may have. Click 2 Protect Supreme Plus extends critical illness benefit without too many restrictions and pays up to ₹1.5 Cr so long as you are diagnosed with 60 illnesses listed in the policy brochure.
Delayed Payouts:
Payouts for critical illnesses may not be made immediately. Instead, insurers expect you to survive for a certain duration before they make the payment. And Click 2 Protect Supreme Plus will pay out the benefit 15 days after the diagnosis is confirmed.
Payout on top only:
Some policies will pay out the critical illness (CI) benefit from the total term cover available, i.e. Accelerated payout, while also offering you the option to avail it on top of the total term cover available. Click 2 Protect Supreme Plus however doesn't offer the accelerated option and pays out the benefit on top.
Short waiting period:
Most policies impose a waiting period before they make the Critical Illness Benefit available. And Click 2 Protect Supreme Plus imposes a 90 days waiting period before they can process any claim related to critical illnesses. This is shorter than the industry average.
Top-Up Option available (As Life Stage Benefit)
Some policies extend the option of increasing your total term cover even after you buy the policy. And while Click 2 Protect Supreme Plus doesn't offer you a blanket option to increase your cover, it does extend the provision to increase your cover during significant life events i.e. when you get married, when you have kids etc. The feature is called life stage benefit.
Decent Terminal Illness Benefit
Certain policies will disburse the entire cover amount the moment you are diagnosed with a terminal illness. So even in the absence of death, you can still get the money and use it any way you wish. And while Click 2 Protect Supreme Plus does not disburse the entire sum assured, you do have the option to receive a portion of your cover if you are diagnosed with a terminal illness.
You can recover your premiums after policy matures
Some policies return your premium after the policy matures if you don't make a claim. However, we don't recommend this option actively considering the option can be expensive. In any case, Click 2 Protect Supreme Plus extends this option to those considering it.
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