HDFC Life Click 2 Protect Supreme Plus (Life Option) Calculator

HDFC Life Click 2 Protect Supreme Plus (Life Option) Calculator

What this calculator does

HDFC Life Click 2 Protect Supreme is an online term insurance plan sold under several benefit "options" - Life, Life Plus, Extra Life, Income, and more. The Life option covered here is the plan's simplest, purest form: it pays a lump-sum death benefit if the life assured dies during the Policy Term, and nothing at all on survival - the entire premium funds mortality cover, with no savings or maturity component.

This calculator gives you an indicative estimate of:

• whether your chosen Sum Assured is adequate for your Annual Income, using a Human-Life-Value style income-multiple guideline
• the premium for your chosen Sum Assured, Policy Term, Premium Paying Option, and payment mode - factoring in age, gender, and smoking/tobacco habit
• the added cost of two optional riders - a Critical Illness Rider and an Accidental Death Benefit Rider
• a year-by-year schedule of premiums paid to date and the total death benefit payable in each shown policy year

Formula Used

Eligibility. Entry age must be between 18 and 65 years, the Policy Term between 10 and 40 years, and cover must end by age 100:

$$EntryAge + PolicyTerm \le 100$$

Recommended cover (income adequacy). The recommended Sum Assured is a multiple of Annual Income that reduces with age, since fewer working years remain to replace as you get older:

$$Multiple(age) = \begin{cases} 20 & age \le 30 \\ 15 & 30 < age \le 40 \\ 10 & 40 < age \le 50 \\ 5 & age > 50 \end{cases} \qquad RecommendedSumAssured = AnnualIncome \times Multiple(age)$$

If your chosen Sum Assured is below this, the calculator flags the policy as under-insured for your income.

Base mortality rate. The illustrative tabular annual rate (₹ per ₹1,000 Sum Assured) rises with age at entry and, more gently, with the length of the Policy Term:

$$BaseRate(age, term) = 0.45 + age \times 0.055 + term \times 0.012$$

Loadings and rebates. A smoker/tobacco-user loading and a female rebate are applied multiplicatively, and a High Sum Assured Rebate (per ₹1,000) is subtracted for larger policies:

$$Rate = BaseRate \times SmokerFactor \times GenderFactor - Rebate(SumAssured)$$ $$SmokerFactor = \begin{cases} 1.75 & \text{Smoker / Tobacco User} \\ 1.0 & \text{Non-Smoker} \end{cases} \qquad GenderFactor = \begin{cases} 0.92 & \text{Female} \\ 1.0 & \text{Male} \end{cases}$$ $$Rebate(SumAssured) = \begin{cases} 0.35 & SumAssured \ge 5,00,00,000 \\ 0.25 & SumAssured \ge 2,00,00,000 \\ 0.10 & SumAssured \ge 1,00,00,000 \\ 0 & \text{otherwise} \end{cases}$$

Regular Pay premium.

$$AnnualPremium = \frac{SumAssured}{1000} \times Rate$$

Premium Paying Options. You may pay premiums for the full Policy Term (Regular Pay), a fixed 5/10/15-year Limited Pay term, or as a one-time Single Pay. Limited and Single Pay compress the same total mortality cost into fewer installments, discounted to approximate the time-value-of-money benefit of paying earlier:

$$TotalRegularCost = AnnualPremium \times PolicyTerm$$ $$LimitedPayAnnualPremium = \frac{TotalRegularCost \times 0.92}{PaymentTerm}, \quad PaymentTerm \in \{5, 10, 15\}$$ $$SinglePremium = TotalRegularCost \times 0.60$$

Optional riders. The Critical Illness Rider covers 25% of the base Sum Assured (capped at ₹50,00,000) at an age-linked rate; the Accidental Death Benefit Rider covers the full base Sum Assured (capped at ₹1,00,00,000) at a flat rate:

$$CIRiderSumAssured = \min(0.25 \times SumAssured,\ 50,00,000) \qquad CIRiderPremium = \frac{CIRiderSumAssured}{1000} \times (0.3 + age \times 0.01)$$ $$ADBRiderSumAssured = \min(SumAssured,\ 1,00,00,000) \qquad ADBRiderPremium = \frac{ADBRiderSumAssured}{1000} \times 0.5$$

Total Death Benefit.

$$TotalDeathBenefit = SumAssured + CIRiderSumAssured + ADBRiderSumAssured$$

Note: these rates and eligibility limits are illustrative approximations for planning purposes, not HDFC Life's official IRDAI-approved rate table, which can change over time and depends on full medical underwriting. Always confirm exact figures with HDFC Life or an authorized agent before purchasing a policy.

How to Use

1. Enter your Age at Entry in years (18 to 65).
2. Select your Gender and Smoking/Tobacco Habit - both affect the premium.
3. Enter your Annual Income so the calculator can check cover adequacy.
4. Enter your desired Policy Term in years (10 to 40, subject to cover ending by age 100).
5. Enter your desired Sum Assured (minimum ₹25,00,000).
6. Choose a Premium Paying Option - Regular Pay, a Limited Pay of 5/10/15 years, or Single Pay.
7. Choose your Premium Payment Mode (ignored if you picked Single Pay).
8. Choose whether to add the Critical Illness Rider and/or Accidental Death Benefit Rider.
9. Click Calculate Premium to see cover adequacy, premium, rider costs, total death benefit, and the year-by-year schedule.

Worked Example

Suppose a 32-year-old non-smoker male earning ₹12,00,000 a year wants a Policy Term of 30 years, a Sum Assured of ₹1,00,00,000, Regular Pay, yearly payment mode, and no riders.

$$Multiple(32) = 15 \implies RecommendedSumAssured = 12,00,000 \times 15 = ₹1,80,00,000$$

Since ₹1,00,00,000 is below this recommended cover, the policy would be flagged as under-insured for this income.

$$BaseRate(32, 30) = 0.45 + 32 \times 0.055 + 30 \times 0.012 = 0.45 + 1.76 + 0.36 = 2.57$$

Since Sum Assured is exactly ₹1,00,00,000, a rebate of 0.10 per mille applies, and there is no smoker loading or female rebate:

$$Rate = 2.57 \times 1.0 \times 1.0 - 0.10 = 2.47$$ $$AnnualPremium = \frac{1,00,00,000}{1000} \times 2.47 = 10{,}000 \times 2.47 = ₹24{,}700 \text{ per year}$$

Over 30 years that's a total premium payable of 24{,}700 \times 30 = ₹7{,}41{,}000. If death occurs at any point during the 30-year term, the family receives the full ₹1,00,00,000 Sum Assured; if the policyholder survives to the end of the term, no maturity benefit is paid, since the Life option is pure protection.