Choosing a life insurance needs careful consideration, as it is the one decision that can affect the future of those you love most. A life insurance is the key to your family’s financial security in your absence. Thus in order to ensure that your family do not face any financial hiccups when you are no longer around, you need to select the right life insurance.
7 UNBREAKABLE Rules for Choosing the BEST Life Insurance Policy for you!
- Does the Policy offer an Income Plan?
This is one of the major assets of any life insurance policy. Consider this, you are currently working at a company earning a monthly salary. You use this salary to pay for the needs of your dependents (mother, father, siblings). How will these needs be met when you are not around? An income plan, like the one HDFC Click 2 Protect has, will ensure that they continue receiving an income from the life insurance plan even in your absence.
- Does the policy offer accidental life cover?
A policy offering accidental life cover is always better as you get an added benefit at a low cost. This will ensure that your family will receive extra compensation in addition to the sum assured, in case of any accident related uncertainties. The HDFC Click 2 Protect has an Extra Life Option that comes with an accidental life cover at a very low cost.
- How personalized can it get?
Always opt for a plan that offers a high degree of customization. The HDFC Click 2 Protect has 9 options to choose from – Life option, Extra Life option, 3D Life option, Income option, Extra Life Income option, Income Replacement option, Return of Premium option, Life Long Protection option and 3D Life Long Protection option. Depending on your requirements, you can choose the plan that works ideally for you.
- Brand Matters!
You need to consider the brand that is offering the policy. Is it a trusted, credible one that has been in the industry for long? Carefully go through the claim settlement ratio, which basically tells you the success rate of a company in settling their insurance claims. The higher this number is, the better value you get. HDFC Click 2 Protect has a claim settlement ratio of over 95.54%, this places it amongst the top 10 insurance brands. Thus you can go to sleep without any worries about your insurance claims!
- What about Accidental Disability Benefit?
Accidental disability benefit basically means that you get certain benefits like waiver of future premiums in case you meet with an accident that leaves you permanently disabled. In such a scenario, the policy will continue with the premiums being waived and your beneficiary still getting the sum assured in the event of your death. The HDFC Click 2 Protect has an accidental death benefit with its Life option that you can avail.
- Flexibility in terms of payouts
The plan you choose should allow a degree of flexibility with respect to the payouts. You can either choose that your beneficiary get the payout as a lump sum amount or in staggered periodic installments as per your requirements. The HDFC Click 2 Protect offers multiple payout options to choose from, depending upon the scheme you pick.
- Cost of premiums
Since you will be paying the premiums for your insurance, pick a plan that has low premiums with more benefits. Any plan that charges a high premium but does not offer much benefit is a bad investment. Thus you need to go through the scheme related documents carefully before selecting. The HDFC Click 2 Protect offers a wide range of benefits like high degree of customization, payout flexibility and high claim settlement ratio, all these benefits at a relatively low cost.