HDFC Life has unveiled its new product, HDFC Life Click 2 Achieve Par Advantage, a participating life insurance policy designed to meet the financial needs of individuals at various stages of life.
The plan provides policyholders with the flexibility to customize their coverage, offering both early liquidity and long-term financial security. It aims to support policyholders in achieving their financial goals while ensuring adaptability to evolving needs.
A key feature of this plan is the Policy Continuance Benefit (PCB), which ensures that if the policyholder passes away, future premiums are waived, a lump sum death benefit is provided, and the nominee continues to receive policy benefits.
Policyholders also have the option to choose a Death Benefit Multiple of 5x, 7x, or 11x, depending on their requirements. In addition, they can convert partial or full cash bonuses into Paid-Up Additions, which can be encashed at any time during the policy term.
Other notable features of the plan include the ability to extend life coverage to a spouse and the provision of tax benefits, in line with prevailing tax laws.
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