HDFC Life has launched a new product called HDFC Life Click 2 Achieve Par Advantage, a participating life insurance policy that is designed to meet the savings and financial security needs of individuals at different life stages. The policy offers flexibility, liquidity, and customizability to cater to the changing needs of policyholders. Some key features of the policy include the Policy Continuance Benefit, which waives future premiums in case of the policyholder’s death, and the Choice of Death Benefit Multiple, which allows policyholders to choose a customized death benefit payout. Additionally, policyholders can opt for the Paid-Up Addition feature, which allows them to convert partial or full cash bonuses into paid-up additions that can be encashed at any time during the policy term.
The policy also offers life insurance coverage for the policyholder’s spouse and provides tax benefits as per prevailing tax laws. HDFC Life believes that life insurance products should be designed to fit the specific needs of every individual, depending on their age, life stage, income, and future plans. The company aims to provide a solution for individuals who want to create a financially secure future and protect their dreams against uncertainties.
The policy allows policyholders to choose a combination of features that best suit their needs, making it a flexible and customizable solution. With HDFC Life Click 2 Achieve Par Advantage, policyholders can rest assured that their loved ones will be financially secure in the event of their passing, while also having the flexibility to achieve their short-term and long-term goals. The policy is designed to provide a financial safety net for individuals who are working towards a better future.