HDFC Click2protect plan and Insurer planning for abroad

POSTED BY Sanket Z ON August 9, 2013 5:12 pm COMMENTS (7)

Hi ManishAshish,

I am 24 years old software developer working in IT company…

I am on the verge of buying HDFC Click2protect Term insurance plan for the term of 30years with 1crore sum assured ..  i have already read it on Jagoinvestor about the thesis on  term plans..Could you please guide me if the thing i am doing is good or have any other options than HDFC if possible…

Actually i am planning to go to abroad for higher studies in Germany and not sure if this policy supports this..Please let me know if you have any idea on if the insurer going out of country for study/job then still the policy remains applicable for the full term or not…

Waiting for your reply..Thank you.

 

Regards,

Sanket

7 replies on this article “HDFC Click2protect plan and Insurer planning for abroad”

  1. Dear Sanket, if you are purchasing a term plan as a working professional as of now & later on take a break for study, you can continue the plan. At the time of purchasing your earning status is important, post purchase, insurer can not force you to pay prem. from your own earning.

    Thanks

    Ashal

  2. Dear Jwalant, I can not comment for HDFC but in my personal case (Aviva), my insurer has confirmed that once the policy is active, death is covered no matter it happens within India or outside.

    Thanks

    Ashal

  3. Sanket Z says:

    Thanks for the info Jwalant…Will really take this in written form …Also one more concern i had on this …whenever you go to abroad for study..then you will not be earning so will it work if my parents pay the premiums….i have spoken with the HDFC guys and they said you cant apply for this plan if you are a student…you should be a working professional and have salary slips to opt for this plan..my father cant buy it for me…can you please clear my doubts here on whether my parents can buy it or not….??

    I am really confused because there are many things which needs to be considered and i am not satisfied by the answers provided by the executives…This forum has really helped me in getting the ground level correct knowledge on every financial aspect.
    Thanks Jagoinvestor.

  4. Dear Sanket, the most important thing was not discussed by you. if you are not in India, what documents are required to file claim? 🙂

    Just to assure you, once the term plan is issued you being a resident Indian & later on you move out, the plan ‘ll continue. I have checked this with my insurer (Aviva).

    thanks

    Ashal

    1. Jwalant says:

      Dear manish / ashal
      I talked hdfc customer care executive & she told me that there policy will cover for death in india.
      I think we have to take in written from companies while we planning for abroad or before purchase of policy.

  5. Generally you are required to inform if at the time of taking the policy, you are already having plans . like in immediate future, but its planned later after many months or years , then it will depend upon the company policy wordings .

    In anycase, your cover will still be there, so go ahead and buy it

  6. Sanket Z says:

    Hi..Just to add an update after i had a chat with HDFC Life executive and then on the Toll Free number ..i came to know that we have to inform the company that the insurer is travelling abroad…so as to have quick and smooth claim process…this was the reply i got when i called the toll free number 1800 266 9777

    The chat executive told me that we don’t have to inform the company about the abroad travel…this is really strange that the executives are not properly trained with all the policy details…

    I was concerned about the question because i may have to spend more than 10years in other country so dont want to end up in paying premiums for the term plan…but now the picture looks much clearer..

    Still wish to seek any advice from the Gurus here if they want to suggest anything on HDFC Click2protect…

    Regards
    Sanket

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