Should I buy HDFC Click2Protect Term Plan ? Its only till 65 yrs ?

POSTED BY Ketaki R ON July 2, 2014 5:28 pm COMMENTS (5)

Hi,

I am 28 year old, married with a new born daughter. I am left with around 28 K at the end of the month after all expeditures.  I already have PPF for myself and my daughter too.

I want to opt term insurance – HDFC Click 2 Protect found interesting. But as the maximum age to cover would be 65, will that be good option to opt for it now?

or else I am thinking,

a. To buy HDFC Click 2 Protect now tenure of 10 years

b. Again by HDFC click2 protect at the age of 35 for tenure of 30 years; so that it continues till 65 age.

Please suggest.

1. My retirement age would be 58-60, will that be advisable to continue with term insurance after that i.e Paying of premiums after retirement? I will need to make extra arrangement for those premium amounts

2. Also, Premiums for this will increase every year as per age? I am unsure of this.

5 replies on this article “Should I buy HDFC Click2Protect Term Plan ? Its only till 65 yrs ?”

  1. Ketaki R says:
    July 4, 2014 at 3:36 pm

    @Hemanth,

    Thanks for making a note of health checkup, I found that they do say it is not mandatory. I will make it point to get it done.

    @Sharath, Any specific reason why to choose HDFC Clic2Protect vs AVIVA i-Life?
    I have health insurance additional to health insurance with employer.

    Reply
  2. Hemanth Chandra says:
    July 4, 2014 at 12:25 am

    Go for a company with whom you are comfortable and have trust.

    Whatever company you take, declare everything clearly while applying.

    Also, take a health checkup at the time of policy though it is not mandatory which shows that there is nothing to hide from your side.

    Reply
  3. sharath Mumbai says:
    July 3, 2014 at 6:10 pm

    Go for hdfc click 2 protect. By 65 you should be free from your liabilities, so you might not need life insurance at that time. But you would for sure need health insurance. so take a health insurance for your family.

    Reply
  4. Ketaki R says:
    July 3, 2014 at 12:08 pm

    Hi Hemanth,

    Thanks for your reply. I read the article. I agree with Manish points but would still go for longer term (just to be on safer side, I can stop paying premiums anytime; rather at the time I feel my family is not dependant and not need any money 🙂 )

    But with this now I have more confusion, I liked Aviva i-Life plan too.

    Which one would be better, what will you suggest? HDFC Click2Protect vs Aviva i-Life?

    Reply
  5. Hemanth Chandra says:
    July 2, 2014 at 11:29 pm

    Check out this article

    https://www.jagoinvestor.com/2013/04/why-you-should-not-take-term-insurance-till-75-yrs.html

    2. I think premium will be same through out your tenure….

    Also, don’t take insurance in parts…. take only once…. or else premium might increase after 10 years

    Reply

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