Mumbai (Maharashtra) [India], December 2 (ANI/BusinessWire India): Term insurance is an important financial tool for individuals who are planning for their future. There are a number of reasons why term insurance is an essential part of your overall financial plan. For starters, it provides financial protection to your family. Furthermore, knowing that you have the coverage you need to financially protect your family can be incredibly comforting. Term insurance can also provide financial relief in the case a policyholder is diagnosed with a terminal illness. All things considered, there's no denying the importance of term insurance. While there are various term plans, selecting the right one can be crucial. One such plan you should consider is HDFC Life Click 2 Protect Super. HDFC Life Click 2 Protect Super HDFC Life Click 2 Protect Super is a non-linked, non-participating insurance plan. Here are three options under this plan - - Level/Increasing Life Cover + Terminal Illness Cover - Life Cover + Terminal Illness Cover + Accidental Death Cover - Decreasing Life Cover Level/Increasing Life Cover + Terminal Illness Cover Life Option Under this Plan - Under this plan, the policyholder is covered by the death benefit. It can be accelerated if a terminal illness is diagnosed. The SA factor will be based on the variant selected by the insured person - - Equal to 100% during the policy tenure. - Equal to 100% during the first 5 policy years and then a 10% simple increase every 5 years, subject to a cap of 200%. - Equal to 100% in the first policy year and then a 5% simple increase every subsequent year, subject to a cap of 200%. Death Benefit Under this Plan - Death benefit is payable as a lump sum if the policyholder passes away during the policy tenure. The death benefit is the highest of - - Sum assured on death x SA factor applicable in the policy year of death. - 105% of total premium(s) paid. Terminal Illness Benefit Under this Plan - - Up to Rs. 2 crore will be accelerated if a terminal illness is diagnosed during the policy tenure. - If the policyholder's age is above 80 years at the time of the diagnosis of a critical illness, then the death benefit will not be accelerated. Maturity Benefit Under this Plan - - If the policyholder survives the term, then the sum assured on maturity will be provided. - The sum assured amount will be equal to 100% of the total premium(s) paid if the return of the premium option is purchased. Life Cover + Terminal Illness Cover + Accidental Death Cover Life Plus Option Under this Plan - Under this plan, the policyholder is covered by the death benefit. It can be accelerated if a terminal illness is diagnosed. Furthermore, an additional amount is payable if the policyholder meets with accidental death during the term of the plan. Death Benefit Under this Plan - Death benefit is payable as a lump sum if the policyholder passes away during the policy tenure. The death benefit is the highest of - - Sum assured on death x SA factor applicable in the policy year of death. - 105% of total premium(s) paid. Terminal Illness Benefit Under this Plan - - The death benefit will be accelerated if a specified terminal illness is diagnosed. - The death benefit will not be accelerated if the policyholder's age is more than 80 years at the time of the diagnosis of a critical illness. Maturity Benefit Under this Plan - - Sum assured on maturity will be payable on survival until maturity. - Sum assured on maturity will be equal to 100% if the return of the premium option is selected. Decreasing Life Cover Life Goal Option Under this Plan - The sum assured payable on death will vary every year. The policyholder can select- Level Cover Period (Initial Plan Year(s) during which life cover remains level). - In case of these policies, the level cover period should be at least equal to the premium payment term. - In case of these policies and SP plans, the policy term less level cover period should be at least equal to 5 years. - Regular pay not allowed. Death Benefit Under this Plan - The death benefit is payable if the insured person dies during the term of the policy. It is equal to the sum assured on death. It is calculated as - Basic sum assured x SA factor applicable in the policy year of death Why is Term Insurance Crucial A term plan is one of the most important financial assets you can have. It works as a safety net in case something happens to you. Without term insurance, you're putting your family at risk. It helps protect your family in case of an unexpected event. For example, if you are diagnosed with a terminal illness, then HDFC Life Click 2 Protect Super can provide you with a sum assured to cover the medical expenses. This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)