HDFC Life, a leading private life insurer in India, has introduced its latest offering, HDFC Life Click 2 Achieve Par Advantage, a participating life insurance product designed to help individuals achieve their financial milestones with flexibility, liquidity, and long-term security.
The new plan caters to different life stages, enabling policyholders to save while ensuring early liquidity for short-term needs. Key features include Policy Continuance Benefit (PCB), which waives future premiums and continues benefits for nominees in case of the policyholder’s demise, and a customizable Death Benefit Multiple (5x, 7x, or 11x) for tailored coverage. Additionally, the Paid-Up Addition option allows customers to convert bonuses into encashable benefits.
Aneesh Khanna, Head of Products & Segments at HDFC Life, highlighted the product’s versatility, stating, “This plan is designed to offer a financial safety net while providing flexibility to meet aspirations such as homeownership and higher education for children.” The plan also offers additional life coverage for spouses and tax benefits as per prevailing laws. With a 99.50% claim settlement ratio in FY24, HDFC Life continues to reinforce its commitment to customer-centric innovation in the life insurance sector.
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