HDFC Life’s guaranteed savings life insurance plan offers the twin benefits of insurance and financial objectives. It can be customised according to the policyholder’s individual needs, such as early income, long-term income, lump sum or money-back plan
HDFC Life on December 12, 2023 launched a new guaranteed savings life insurance plan. Named HDFC Life Click 2 Achieve, the non-linked, non-participating individual savings life insurance plan has been designed to offer the twin benefits of insurance and financial objectives, HDFC Life said in a press release.
The policy is very flexible and can be customised according to the policyholder’s needs, HDFC Life said. It can be customised for benefits, such as early income, long-term income, lump sum or period lump sum (money-back).
The policy comes with many features, according to HDFC Life.
1] The policyholder can choose the desired level of protection along with flexible sum assured and rider benefits.
2] The policyholder can design his/her own cash flows to meet all requirement along with the additional cushion of guarantee.
3] The policy also offers the benefit of ‘guaranteed immediate income’ as early as the next policy month.
According to HDFC Life, the policy offers a unique feature of increasing the income option, which can help the buyer reduce the impact of inflation.
The policy also offers the flexibility to grow the survival benefit at a rate of 1.5 per cent-plus savings bank deposits. One can also choose the amount of return of premium and the year in which he/she would want to receive the same. One can choose from 0, 50, 75, 100, 125, and 200 percentage and timing of 1st, 5th, 10th, 15th, 20th, 25th, 35th, and last payment year for the same, HDFC Life said.
Aneesh Khanna, head – products and segments, HDFC Life said, “Everything starts with a dream, and no matter how big the dream is, to make it a reality, you need to start with a secured step. Similarly, life goals are fulfilled with regular savings and planning. You can now take your first secured step towards fulfilling your dreams with HDFC Life Click 2 Achieve product. This plan that gives you unlimited combinations to enable you to achieve your dreams with the cushion of guaranteed returns.”