HDFC Life - Click 2 Retire

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It's 2035 and two friends, Srinivas and Madhav are meeting after 20 years.

Retirement scenario
in India

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Importance of an
Insurance plan

Read story
Why should retirement
planning be done early

Read story
Why buy HDFC Life
Click 2 Retire

Read story

Retirement scenario in India

Srinivas: Hey Madhav! I can’t believe we are meeting after 20 years! You have put on a little weight and got a few grey strands but you still look almost the same!

Madhav:Well, I am looking forward to full-time relaxation and retirement in three years. Maybe, that's the secret!
Srinivas: What?! I can’t even think of retiring in the next 7-8 years! You have obviously done really well to be retiring on time.

Madhav:That’s right! But weren't you also planning on an early retirement?
Srinivas: Yes. But my savings from other financial instruments will not suffice. I will need to work after retirement.

Madhav:Well! I want to work after retirement, as most people want to, but not just for money. I have saved enough. I just want to have fun and stay active.
Srinivas: I think I blundered with investment options which might not help my cause of saving for retirement.
Srinivas: My son is there to support me, but I don’t want to be dependent on anybody. Unfortunately, I might just need his support in old age.

Madhav:You are not alone. I recently met our friend Sailesh. He told me that he is not ready for retirement since he didn’t regularly save for it.
Srinivas: I always thought retirement was all about freedom, leisure and enjoyment, but it will be some time before I get there. But, good for you!

Madhav:It’s also good for my wife. I have saved enough so that she also doesn’t have to depend on anyone financially, like my mother did.

Importance of an Insurance plan

Srinivas: I am curious Madhav, but how did you manage to save enough for retirement?

Madhav:I went for an unit-linked insurance plan (Ulip).
Srinivas: You mean insurance plans which use your premiums to invest in equities and also provide life insurance! But aren’t they risky?

Madhav:No, Srinivas. When you stay invested in equities for the long-term, say 15 years, you typically save enough to take care of your needs.
Srinivas: Hmmm………But why invest in a retirement plan from a life insurance company?

Madhav:These plans have many advantages, brother! Regular premiums ensure you invest regularly i.e. every month, quarter or annually.
Madhav:You can invest more with the top-up facility that is available with some plans. Importantly, life insurance cover protects my wife’s retirement needs, even in my absence.
Srinivas: Impressive!

Madhav:I got deduction of pension premium upto Rs 1.5 lakh from total income on an annual basis under Section 80 CCC of the Income Tax Act, 1961. When I retire, I will get up to a third of my savings as tax-free lump sum. Rest will be given to me as monthly income, either for life, or, a fixed period.

Why should retirement planning be done early

Srinivas: Sometimes, I think that maybe I should have started saving for retirement early.

Madhav:You are right. If someone invests Rs 5,000 every month for next 15 years from age 30 till 58, the money would grow to amounts like Rs 13,10,090^# (with 4%) and Rs 29,19,340** (with 8%).
Srinivas: So?

Madhav:A one year delay would mean that you end up with Rs 12,86,555^# (with 4%) and Rs 27,60,714** (with 8%) or a shortfall of Rs 23,535 and Rs 1,58,626.
Srinivas: Really?!

Madhav:And you know what? You don’t even need to take any silly risks while making your money grow.
Srinivas: How’s that?

Madhav:If your money grows to Rs 5,16,941^# (with 4%) in the first 8 years, it doubles to Rs 10,35,033* at the end of the 15 years. Or, the money doubles in 7 years during eighth to fifteenth year.
Madhav:If your money grows to Rs 7,03,322** (with 8%) in the first 9 years, it doubles to Rs 14,12,090** in 14 years. Or, the money doubles in just 5 years during ninth to fourteenth year.
Madhav:So, moral of the story is: Start saving early to grow your money well without taking undue risks.

Why buy HDFC Life Click 2 Retire

Srinivas: You clearly seem to have figured out your retirement investments well. But will you at least let out the secret about your retirement investment now?

Madhav:Ha! Srinivas, I bought an online unit-linked insurance plan for retirement called HDFC Life Click 2 Retire. It was launched around the same time we met last, 20 years ago.
Srinivas: Wow! Was online unit-linked insurance plan HDFC Life Click 2 Retirement launched 20 years ago?

Madhav:Yes. Its 3-step purchase process was very convenient. Besides life cover and growth from equity investments, there were other standout features.
Srinivas: Such as?

Madhav:It is a low-cost plan with no allocation, policy discontinuation and policy administration charges. So, less of my money got used in expenses, and grew better.
Madhav:I also could decide on my retirement age from age 45 onwards and choose among premium paying terms of 10 years or any period spanning 15-35 years.
Srinivas: Very interesting.

Madhav:Besides a capital guarantee, the Ulip’s equity investments in equity funds are progressively shifted to lower risk debt funds as you progress towards the vesting age.
Srinivas: Looks like I missed out investing in a great investment like HDFC Life Click 2 Retire. But my cousins can still invest in it and have a great retirement.

Madhav:You bet!

1-Day Claim Settlement

is available for the following:

. . . . . . . . . . . . . . . . . .

Cumulative claim amount on all policies up to ₹2 crores
1 day claim settlement is exclusively available for policies bought online
Claim does not require field investigation
All requisite documents^# submitted by the nominee before 3 PM on a working day at HDFC Life branches. Intimations beyond 3 PM will be taken up the next business day
HDFC Life will pay an interest^{^} on your death claim amount for every day of delay beyond one working day

T&C Apply

1) For all claims^* fulfilling above mentioned conditions, provided we receive all the required documents, the claim will be processed within one working day and decision will be communicated accordingly. 2) Investigation / Open title / Rival / Court involved Claims are excluded. 3) Policy duration at the time of event is at least >=3 years. 4) Saturday, Sunday, public festivals and non-NAV days (for ULIP) are excluded (not treated as a working day)
^Interest rate would be at 6.25%per annum.

#Documentation Details

Claim form, Nominee photograph, Pan card copy, Identity and Address proof of nominee. (If nominee is minor, documents of appointee to be submitted). Death certificate issued by competent authority for death registrations. Medical cause of death certificate. Cancelled cheque/copy with the name of nominee/appointee mentioned on it as per the passbook of the nominee/appointee. Past & current complete medical records including discharge/death summary, indoor case papers, investigation reports, consultation notes. In case of an accidental death, additional documents will be required. Post Mortem Report, Panchnama, Police Inquest report, First/Final Information report, Viscera/Chemical Analysis report.

It's 2035 and two friends, Srinivas and Madhav are meeting after 20 years.

Retirement scenario
in India

Importance of an
Insurance plan

Why should retirement
planning be done early

Why buy HDFC Life
Click 2 Retire

Retirement scenario in India

Retirement scenario in India

Importance of an Insurance plan

Importance of an Insurance plan

Why should retirement planning be done early

Why should retirement planning be done early

Why buy HDFC Life Click 2 Retire

Why buy HDFC Life Click 2 Retire

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