NewsVoir
Mumbai (Maharashtra) [India], February 24: HDFC Life, one of India's leading life insurers, has launched its latest product HDFC Life Click 2 Achieve Par Advantage. This participating product has been designed keeping in mind milestones associated with the different life stages of an individual. As one continues to save for their growing aspirations/goals, it is observed that there is a preference for early liquidity (for short term needs), flexibility and financial security for the future.
HDFC Life Click 2 Achieve Par Advantage comes with following key features:
* Policy Continuance Benefit (PCB) - Through this option, future premiums are waived in case of death of the Life Assured. The Death Benefit is paid out as a lump sum immediately and also the future benefits under the plan continue for the nominee or survivor.
* Choice of Death Benefit Multiple - This option enables one to choose a customised Death Benefit Multiple - 5x, 7x or 11x - as per their need.
* Paid Up Addition - Through this option, one can convert partial or the entire cash bonus payable into Paid-Up Additions which can be encashed anytime during the term of the policy.
Customers can choose any combination from the above options as per their future needs.
Along with life insurance cover for financial security of the family, the plan also offers:
Additional Life Coverage - One can choose to cover one's spouse
Tax benefits - As applicable for an individual, based on prevailing tax laws
Life insurance is a necessity for every working individual with financial responsibilities. HDFC Life has been an innovator in the life insurance space offering customisable products that meet the ever-evolving needs of Indian consumers. The Company offers a robust digital platform that provides multiple servicing options to customers as per their convenience. HDFC Life's commitment to customers is reflected in its consistently high claim settlement ratio, which was 99.50% for FY24.
Speaking on the product launch, Aneesh Khanna - Head Products & Segments, HDFC Life, commented, "We, at HDFC Life, believe that life insurance products need to be designed to fit the specific needs of every individual, depending on their age, life stage, current income and future plans. Every individual dreams of a financially secure future for their loved ones and also of achieving goals such as buying a home, sending their children for higher education to a prestigious institute, etc. These dreams need long-term planning with an instrument that offers flexibility, liquidity and financial security. HDFC Life Click 2 Achieve Par Advantage has been designed to offer a solution to individuals who endeavour to create a better future and protect their dreams against uncertainties with a financial safety net."
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