HDFC Life launches new life plan

Additional features include the option to extend life coverage to a spouse.

HDFC Life launched HDFC Life Click 2 Achieve Par Advantage, a participating life insurance product designed to support financial goals at different life stages. 

The plan offers early liquidity, flexibility, and long-term financial security whilst allowing policyholders to customise benefits based on their needs.  

The product includes a Policy Continuance Benefit (PCB), ensuring that in the event of the policyholder’s death, future premiums are waived, a lump sum death benefit is paid out, and the nominee continues receiving policy benefits.

It also provides the option to select a Death Benefit Multiple of 5x, 7x, or 11x and allows policyholders to convert partial or full cash bonuses into Paid-Up Additions, which can be encashed anytime during the policy term.  

Additional features include the option to extend life coverage to a spouse and tax benefits as per prevailing laws.