HDFC Life Click 2 Achieve – Guaranteed Savings Plan with Life Cover

HDFC Life Click 2 Achieve: A Comprehensive Guide to Secure Your Financial Future

In today’s fast-paced world, achieving life’s milestones—such as buying a dream home, funding your child’s education, or planning a comfortable retirement—requires careful financial planning. HDFC Life Click 2 Achieve is a non-participating, non-linked savings life insurance plan designed to help you meet these goals with guaranteed benefits and flexible payout options.

This article explores the key features, benefits, eligibility criteria, and plan options of HDFC Life Click 2 Achieve, ensuring you make an informed decision for your financial future.

Key Features of HDFC Life Click 2 Achieve

1. Guaranteed Benefits

• Enjoy assured returns with increasing income up to 10% p.a. (simple interest) based on the chosen benefit structure.
• Flexibility to receive payouts as a lump sum or regular income.

2. Life Insurance Cover

• Provides financial security to your family in case of unforeseen events.
• Death benefit is the highest of:
  • Sum Assured on Death (10x annual premium).
  • 105% of total premiums paid.
  • Surrender value at the time of death.

3. Flexibility in Plan Options

• Choose between Smart Student (for child education) or Dream Achiever (for personal financial goals).
• Customize premium payment terms, policy terms, and benefit structures.

4. Premium Offset Feature

• Adjust premiums against survival benefits, reducing out-of-pocket expenses.

5. Deferral of Survival/Income Benefits

• Accumulate unpaid benefits with interest (SBI Savings Rate + 1.5%) and withdraw when needed.

6. Juvenile Critical Illness Cover (Optional)

• Provides lump-sum payouts if the child is diagnosed with critical illnesses like leukemia or aplastic anemia.

7. Optional Riders

• Enhance coverage with riders like:
  • Income Benefit on Accidental Disability Rider
  • Protect Plus Rider (covers cancer and accidental death)
  • Health Plus Rider (covers 60 critical illnesses)

8. Tax Benefits

• Premiums paid may qualify for deductions under Section 80C, and maturity benefits may be tax-free under Section 10(10D) (as per prevailing tax laws).

Plan Options

1. Smart Student

• Designed for parents planning their child’s education.
• Key Benefits:
  • Guaranteed income for 3–5 years to cover educational expenses.
  • Choose income start age (16 or 18 years).
  • Outstanding Achievement Award: Lump-sum payout if the child secures admission in a top-ranked university or Qualifying for Olympics or wins medal in Asian Games, Commonwealth Games, or the world championship of any recognised sport.
  • Premium Waiver: Future premiums are waived in case of the proposer’s death, critical illness, or disability.
• Eligibility:
  • Entry Age: 30 days to 13 years.
  • Policy Term: 10–23 years.
  • Minimum Sum Assured: ₹50,000.

2. Dream Achiever

• Ideal for individuals saving for personal goals like buying a car or retirement.
• Key Benefits:
  • Choose between lump-sum payouts or regular income.
  • Option to increase guaranteed income annually.
  • Flexible death benefit multiples (minimum 7x annual premium).
• Eligibility:
  • Entry Age: 30 days to 65 years.
  • Policy Term: 5–40 years.
  • Minimum Sum Assured: ₹50,000.

How It Works

Death Benefit

• Paid to the nominee if the policyholder passes away during the term.
• Policy terminates after payout.

Survival Benefit

• For Smart Student: Paid during the last 3–5 policy years (based on chosen term).
• For Dream Achiever: Customizable payouts as per selected plan.

Maturity Benefit

• Smart Student: No additional maturity benefit (last survival benefit is paid at maturity).
• Dream Achiever: Sum Assured on Maturity + optional income benefits post-maturity.

Additional Benefits

1. Policy Loan

• Borrow up to 80% of the surrender value at competitive interest rates.

2. Revival Option

• Lapsed policies can be revived within 5 years by paying due premiums + interest (currently 9.5% p.a.).

3. Free-Look Period

• Cancel the policy within 30 days of receipt for a refund (minus risk premium and medical costs).

4. Non-Forfeiture Benefits

• If premiums are unpaid, the policy becomes paid-up (benefits reduce proportionally).
• Surrender Value: Available after 2 years (30%–90% of premiums paid, depending on policy year).

Who Should Invest?

✅ Parents planning for their child’s education.
✅ Young professionals saving for future goals.
✅ Retirees seeking a steady income stream.

Conclusion

HDFC Life Click 2 Achieve is a versatile savings plan that combines life insurance with guaranteed returns, offering flexibility to align with your financial aspirations. Whether you’re securing your child’s future or building a retirement corpus, this plan provides customizable benefits, tax advantages, and optional riders for enhanced protection.

Disclaimer: This article is for informational purposes only. Please read the policy brochure carefully before investing. Tax benefits are subject to change as per government regulations.