Schedule a call Click here
Give missed call to buy +91-9980970424
Contact Us
For NRI Customers
(To Buy a Policy)
(If you're our existing customer)
For Online Policy Purchase
(New and Ongoing Applications)
Branch Locator
For Existing Customers
(Issued Policy)
Fund Performance Check
Login
Customers
Employees
Partner
Checking the Variables: An Important Aspect in Choosing Your Insurance Plan
Usually, young aspirants & professionals who have just started their careers have limited savings. But they also have dependents & liabilities - such as parents approaching their retirement life, younger siblings whose education expenses have to be met, grandparents with critical illnesses or debts that have to be repaid etc. As these young people generally have low savings to tide over any sudden financial emergency, therefore, in such cases, a suitable insurance plan would be the best option to shield the financial condition of their family.
Benefits of Having an Life Insurance Plan
The following points further highlight the benefits of having an insurance plan/policy, especially in these uncertain post-covid times:
Provides financial backup in an emergency: Life Insurance plans offer much needed financial & emotional support in case of any unexpected emergencies allowing you to focus on rebuilding your life.
Secures retirement: With a retirement insurance plan, you can save part of your income over a long-term period and make yourself financially secure post-retirement.
Secures future: As life is uncertain and if some unforeseen crisis strikes, a term insurance plan will ensure that your family gets a lump sum amount to help them take care of their needs when you are not around.
Encourages Savings: With a money-back policy, you can get an amount after a few years of investing in the insurance policy.
Buys you peace of mind: Apart from financial security, insurance also gives you peace of mind.
Check the Variables - Choose the Right Plan
As you grow older in life, your responsibilities will also increase. Keeping the inflation rate in mind and the uncertainties of life, no amount saved will be enough for your family’s future if you wait until later to start planning. The variables/factors that need to be considered when choosing your insurance plan and coverage should include the following:
Your future goals: Your plan may be to pursue higher studies by taking an education loan or getting married and having children.
Number of dependents: Ageing parents with medical conditions or a spouse who may not work or may not earn a fixed income or children in the future.
Your current or future liabilities: Any existing loans or debts.
Expected liabilities: Medical care for elders, children’s education etc.
Once you decide to buy an insurance plan suitable to your needs, you can always opt for plans offered by HDFC Life where you can find a range of life insurance plans right from term insurance to health insurance and investment-oriented plans. The company has a high claim settlement ratio# which stands currently at 99.03%. You can easily buy HDFC Life Click 2 Protect Life, a term plan designed keeping in mind your requirements, online with a few simple clicks of the mouse.
#Individual death claim settlement ratio by number of policies as per audited annual statistics for FY 2019-20.
End Note
Age is the most crucial factor determining how expensive or affordable your insurance policy will be. The age of purchasing an insurance policy will decide whether or not you pay a high premium or a low one. Purchasing a suitable insurance plan/policy as early as possible in life enables you to reap benefits and serves your best interests. It might seem like an added expenditure right now, but wouldn’t you rather be safe than sorry?
Term Plan Articles
Investment Articles
Tax Articles
Retirement Articles
ULIP Articles
Subscribe to get the latest articles directly in your inbox
Health Plans Articles
Child Plans Articles
Popular Calculators
Francis Rodrigues
Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.
Written By:
HDFC Life
Reviewed by Life Insurance Experts
HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER
We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance solutions - protection, pension, savings, investment, annuity and health.
HDFC Life Insurance Company Limited (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.
Registered Office: Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Email: Buyonline@hdfclife.in, Tel No:1800-266-9777(Mon-Sat 10 am to 7 pm). Local charges apply. Do NOT prefix any country code. e.g. +91 or 00. Website: www.hdfclife.com
The name/letters “HDFC” in the name/logo of the Company belongs to Housing Development Finance Corporation Limited (“HDFC Limited”) and is used by HDFC Life under an agreement entered into with HDFC Limited.
HDFC Life Click 2 Protect Life (UIN No.: 101N139V04) is a Non Linked, Non Participating, Individual, Pure Risk Premium/Savings Life Insurance Plan. Life Insurance Coverage is available in this product.
For more details on risk factors, associated terms and conditions and exclusions, please read sales brochure carefully before concluding a sale.
BEWARE OF SPURIOUS PHONE CALLS AND FICTICIOUS/FRAUDULENT OFFERS
- IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
Popular Searches
- Best Investment Plans
- What is Term Insurance
- 1 Crore Term Insurance
- Short term saving plan
- Saving plans
- ULIP Plan
- Health Plans
- Child Insurance Plans
- Group Insurance Plans
- Long Term Savings Plan
- Fixed Maturity Plan
- Monthly Income Advantage Plan
- Pension Calculator
- BMI Calculator
- Compound Interest Calculator
- Term insurance Calculator
- Tax Savings Investment Options
- 2 crore term insurance
- 50 lakhs term insurance
- annuity plans
- Investment Calculator
- get pension of 30000 per month
- ULIP Returns in 5 Years
- investment plan for 5 years
- investment plan for 10 years
- 50-Lakh Investment Plan
- guaranteed returns plans
- sanchay plans
- Pension plans
