HDFC Life Click 2 Achieve Par Advantage: An Individual, Non-Linked, Participating, Savings Life Insurance Plan:

 

**HDFC Life Click 2 Achieve Par Advantage:** A Participating Savings Life Insurance Plan designed to help you achieve financial goals for your family, such as education and retirement. **Key Features:** - **Flexible Coverage:** Options for policy continuance benefits that waive future premiums after the insured's death and allow coverage for a spouse. - **Customizable Life Cover:** Choose from 7x/11x annual premium (age < 50) or 5x/11x (age >= 50). - **Optional Riders:** Add additional protection as needed. **Savings & Payout Flexibility:** - **Tailored Plan Options:** Adjust combinations based on future needs. - **Guaranteed Benefits:** Payouts available during the term (Guaranteed Income option). - **Premium Offset:** Use bonuses or guaranteed payouts to cover premiums. - **Paid Up Additions:** Convert cash bonuses into more coverage. - **Deferral Benefit:** Accumulate benefits for future lump sum withdrawal. **Tax Benefits:** Available as per current laws.

ELIGIBILITY:
Minimum Age at Entry (Years):
Without Policy Continuance Benefit (PCB)	With Policy Continuance Benefit (PCB)
0 years (30 days)	18
Maximum Age at Entry (Years): For Additional Life, the above limit will apply to both lives.
Without Policy Continuance Benefit (PCB):	With Policy Continuance Benefit (PCB):
Option: Lump sum and Balanced Income - 65 years. Early Income, Enhanced Income, and Guaranteed Income - 60 years.	Option: Lump sum and Balanced Income -  Single Pay: 60 years,  Regular/Limited Pay: 65 years -PPT Early Income, and Enhanced Income, and Guaranteed Income -     Single Pay - 55 years,  and Regular/Limited Pay: 60 years - PPT
Minimum Age at Maturity (Years) - 18
Maximum Age at Maturity (Years):
Without Policy Continuance Benefit (PCB) - 85 years	With Policy Continuance Benefit (PCB) - 75 years
Premium Payment Term (Years) -  Single Pay, 5, 6, 8, 10, 12
Note: Risk coverage begins at policy commencement; the policy vests upon the Life Assured reaching age 18. If the "Additional Life" option is chosen, the 18-year minimum entry age and specified limits apply to both lives.
Policy Term (Years): 10 to 40 years. The minimum Policy Term for each option shall be as follows:
Plan option	Minimum Policy Term (Years)
Lumpsum	10
Balanced Income	10
Early Income	20
Enhanced Income	20
Guaranteed Income	20
Deferment Period (Years) - 0 to 12 years
For plan options 2-5, cash bonuses or guaranteed payouts apply. Policies with a deferment period participate in profits from the start. Surplus accumulates during the deferment period, and bonus declarations begin once that period ends.
**Sum Assured on Death:** This benefit is calculated as the Death Benefit Multiple (DBM) times the Single Premium (SP) or Annual Pay (AP). **Details:** - **Entry Age <50 years:**    - Minimum DBM: 1.25 (Single Pay), 7 (Limited/Regular Pay)   - Maximum DBM: 11 - **Entry Age ≥50 years:**   - Minimum DBM: 1 (Single Pay), 5 (Limited/Regular Pay)   - Maximum DBM: 11 *Note: Limits apply to both lives in the ‘Additional Life Option’, and acceptance is subject to the Board-approved Underwriting Policy.*
Minimum Instalment Premium: The minimum premium amount per instalment for the policy shall be as follows:
Premium Payment Frequency	Minimum Instalment Premium (Rs.)
Single Premium	50,000
Yearly	25,000
Half-yearly	12,750
Quarterly	6,500
Monthly	2,188
The premium allocated towards each plan option cannot be lower than the limit given below:
Premium Payment Frequency	Minimum Instalment Premium (Rs.)
Single Premium	25,000
Yearly	10,000
Half-yearly	5,100
Quarterly	2,600
Monthly	875
Maximum Instalment Premium -  No limit, subject to Board Approved Underwriting Policy (BAUP)
Note: Ages refer to the last birthday, and minimum premiums exclude applicable taxes.

Plan Options: 1. Lump sum: Guaranteed maturity benefit plus non-guaranteed bonuses. 2. Balanced Income: Combines cash bonuses during the payout period with a focused maturity lump sum. 3. Early Income: Regular cash bonuses during the payout period plus a guaranteed maturity lump sum. 4. Enhanced Income: Cash bonuses increase based on a multiple of the maturity sum assured, plus a maturity lump sum. 5. Guaranteed Income: Annual guaranteed payout (10% of Basic Sum Assured) plus non-guaranteed bonuses and a terminal bonus. Note: Options are selected at inception and cannot be changed later. Premiums vary by choice.

**Benefits:**  1. **Death Benefit:**  Paid if the Life Assured dies during the term with all premiums paid. The benefit is the higher of:    - **Lump Sum:** Sum Assured on Death plus bonuses or 105% of Total Premiums Paid.    - **Balanced, Early, Enhanced, Guaranteed Income:** Accrued cash bonuses plus the higher of Sum Assured on Death plus bonuses or 105% of Total Premiums Paid.    - **Additional Life Option:** On the first death, the higher of Sum Assured on Death or 105% of premiums is paid; future premiums are waived.     **Policy Termination:** Without PCB, the policy ends after the final death benefit. With PCB, it continues, and benefits are paid to the nominee.   2. **Survival Benefit:**  If all premiums are paid, the following are payable:    - **I. Lump Sum:** Not applicable.    - **II. Balanced & III. Early Income:** Sum Assured on Maturity X Cash Bonus Rate.    - **IV. Enhanced Income:** Annual benefit = Sum Assured on Maturity X (1 + Increase Factor X Cash Bonus Rate).    - **V. Guaranteed Income:** Annual benefit = (Basic Sum Assured X Cash Bonus Rate) + Guaranteed Payout (10% of Basic Sum Assured).   3. **Maturity Benefit:**  Payable on survival to the end of the policy term with all premiums paid.    - **I. Lump Sum:** Includes Sum Assured on Maturity and accrued bonuses.    - **II. Balanced, III. Early, IV. Enhanced Income:** Includes accrued cash bonus and Sum Assured on Maturity with any bonuses.    - **V. Guaranteed Income:** Includes accrued bonuses, Sum Assured on Maturity, and any bonuses.

**BONUSES:**  Profits are distributed as Cash, Reversionary, and Terminal Bonuses, declared annually. Terminal bonuses are paid upon maturity, death, or surrender. Cash bonuses are payable the following year, while interim and terminal bonuses are paid at policy exit.    **Note:** The assumed returns of 4% and 8% p.a. are not guaranteed. Benefits may be guaranteed or variable based on future investment performance. These rates do not limit potential returns, as policy value depends on various factors, including insurer performance.

Other benefits under this option:

**(1) Additional Life Option:**  This option covers the policyholder and their spouse, each with independent death benefits. Upon the first death, the benefit is paid, and future premiums are waived. The second death benefit is paid upon the second life’s death. The policy remains active while at least one life is alive and ends upon the second death, unless the Policy Continuance Benefit (PCB) is chosen, in which case it must apply uniformly across all plan options.   **(2) Policy Continuance Benefit (PCB):**  Allows the policy to continue after the death of the life assured, enabling nominees to receive scheduled benefits.   - **PCB without ‘Additional Life Option’:** The policy remains active after the life assured’s death, waiving future premiums and paying benefits to the nominee.  - **PCB with ‘Additional Life Option’:** The policy continues after the second death, with benefits paid to the nominee as if one life assured were still alive.   PCB must be consistent across all selected options.   **(3) Waiver of Premium on Death (WOP Death):**  Waives future premiums upon the proposer’s death, keeping the policy active. WOP Death must be chosen at inception and cannot be canceled later; it requires an additional premium.   **(4) Waiver of Premium on CI (WOP CI):**  Waives premiums if the proposer is diagnosed with a covered critical illness, keeping the policy active. This choice must be made at inception and requires an additional premium.   **(5) Waiver of Premium for Total and Permanent Disability (WOP TPD):**  Waives future premiums if the proposer becomes totally and permanently disabled, keeping the policy active. This option can only be selected at inception and requires an additional premium.   **(6) Special Milestone Benefit:**  Provides payouts for life events (e.g., retirements, birthdays) while the member is active. The policyholder selects the timing and amount (up to 50% of total premiums paid) at inception for advance payment during the chosen occasion.

How does the plan work? Example 1. A 35-year-old man pays 5 lakh annually for 10 years (40-year term).  He splits premiums between Early Income (85%) and Balanced Income (15%). Choosing Policy Continuance Benefit and Additional Life cover for his 35-year-old wife, he dies after the 8th premium.

On Survival (till maturity):

On Death during PPT:

Benefits & Value in (Rs.):
Proportion of Annual Premium: Early Income: 85% & Balanced Income: 15%	Early Income: 4,25,000 Balanced Income: 75,000
Policy Continuance Benefit	yes
Additional Life	Yes
Assumed Annual Investment returns @4%
Cash Bonus	49,731
Total Cash Bonus for 40 years	19,89,231
Maturity Benefit	86,40,031
Total Benefit till Maturity	1,06,29,262
Death Benefit for LA 1	55,00,000
Death Benefit for LA 2	55,00,000
Assumed Annual Investment returns @8%:
Cash Bonus	1,75,297
Total Cash Bonus for 40 years	70,11,883
Maturity Benefit	87,60,860
Total Benefit till Maturity	1,57,72,743
Death Benefit for LA 1	55,00,000
Death Benefit for LA 2	55,00,000
Note: The illustrated Cash Bonus payouts assume an Annual frequency.

Example 2: A 35-year-old man pays 5 lakh annually for 10 years (40-year term), splitting premiums between Guaranteed Income (90%) and Early Income (10%).

Benefits & Value in (Rs.):
Proportion of Annual Premium: Guaranteed Income: 90% & Early Income: 10%	Guaranteed Income: 4,50,000 Early Income: 50,000
Assumed Annual Investment returns @4%:
Guaranteed Income	1,04,264
Cash Bonus	27,038
Total (GI+CB)	1,31,302
Maturity Benefit	36,49,880
Total Benefit till Maturity	89,01,944
Death Benefit	55,00,000
Assumed Annual Investment returns @8%
Guaranteed Income	1,04,264
Cash Bonus	73,781
Total (GI+CB)	1,78,044
Maturity Benefit	1,71,15,137
Total Benefit till Maturity	2,42,36,900
Death Benefit	55,00,000
Note: The Cash Bonus (if declared) payouts shown above are for the Annual Payout frequency.

General definitions of terms used: Total Premiums Paid: Sum of all base product premiums, excluding extra charges and taxes. Annualized Premium (AP): Yearly payable premium excluding taxes, riders, and extra loadings. Single Premium (SP): One-time payment excluding taxes and additional rider costs. Sum Assured on Death: Guaranteed benefit payable on death, calculated as DBM × SP (Single Pay) or DBM × AP (Limited/Regular Pay). Sum Assured on Maturity: Guaranteed benefit at policy end. For the Guaranteed Income Plan, it is 10% of the Basic Sum Assured. Basic Sum Assured: Basis for calculating payouts and bonuses in the Guaranteed Income plan. Deferment Period (DP): Initial period before bonuses or guaranteed payouts start. Guaranteed Income Plan: Pays 10% of the Sum Assured on Maturity annually during the payout period. Pay-out Period: Duration from the end of deferment until policy maturity when benefits are paid.

**Rider Options:** **HDFC Life Income Benefit on Accidental Disability Rider - Non-Linked:**   Provides 1% of the Rider Sum Assured monthly for 10 years upon Accidental Total Permanent Disability. No maturity benefit. **HDFC Life Protect Plus Rider - Non-Linked:**   Offers coverage for cancer, accidental death, and disability. No maturity benefits. **HDFC Life Health Plus Rider - Non-Linked:**   Provides a lump sum for 60 critical illnesses or proportionate benefits for cancer—no maturity benefit. **HDFC Life Waiver of Premium Rider - Non-Linked:**   Waives future premiums for the base policy upon the Life Assured's death, covered disability, or diagnosis of any of the 60 critical illnesses. **Note:**   Check the official website for detailed brochures. Riders cannot overlap with base product benefits.

**NON-FORFEITURE BENEFITS:** **Grace Period:**   There is a 15-day grace period for monthly premiums and a 30-day grace period for other frequencies. Coverage continues during this time. If the premium remains unpaid afterward, the policy may lapse or become paid-up. If the Life Assured dies during the grace period, benefits will be payable after deducting any due premiums. **Policies with PCB or Additional Life Option:**   The premium waiver ceases when the policy becomes paid-up, but the survival, death, and maturity benefits continue. **Surrender Benefits:**   The Surrender Value is the higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV). For policies surrendering after one year, the surrender value will be at least 30% of Total Premiums Paid, minus any cash bonuses or guaranteed payouts. **Guaranteed Surrender Value (GSV):**   GSV is obtained after paying a single premium or at least two years' premium in case of Limited/Regular policies, calculated as:   GSV = Max (GSV Factor × Total premiums paid + GSV factor for Bonus × Accrued Reversionary Bonus – Survival Benefits, 0). **Special Surrender Value (SSV):**   SSV is available after one year, provided one full year's premium has been received, and regulatory compliance is met. **Revival:**   If a policy lapses due to non-payment, it can be revived within five years of the missed payment. All due premiums and charges must be paid, and insurability must be confirmed in accordance with the insurer's policy. Current revival interest is 9.5% p.a., subject to change based on market rates. Reduced interest rates may apply during revival campaigns. Upon revival, all benefits resume.

**Other Benefits:** A) **Alterations:** Policyholders can modify payment frequency and payouts on anniversaries as per plan terms. B) **Option to Decrease Premiums:** After five years, premiums can be reduced by up to 50%, affecting guaranteed benefits proportionally. Once reduced, they cannot be increased. C) **Premium Offset:** Benefits or cash bonuses can be used to pay premiums, with any shortfall due as the remaining balance. D) **Deferral of Survival Benefits:** Cash bonuses and guaranteed payouts can be deferred, accumulating monthly at 6.25% p.a. Accrued benefits can be withdrawn or paid upon policy termination. E) **Special Date Options:**  - **Option I:** First-year benefits are prorated until a chosen 'Special Date'.  - **Option II:** All benefits adjust for time and are paid on the chosen date. F) **Death Benefit in Installments:** Nominees can receive the death benefit in installments over 5 to 15 years or opt for a lump sum at any time. G) **Paid-Up Additions (PUA):** Cash bonuses can be used to buy additional coverage (PUA) with payouts upon death or maturity. H) **Withdrawal Option:** Policyholders can withdraw accrued PUA for cash value based on specific factors. I) **Policy Loan:** Loans up to 80% of surrender value can be taken, with outstanding amounts deducted from benefits. The interest rate is currently 9.50% p.a., with foreclosure terms for certain statuses.

**TERMS & CONDITIONS:**   **Suicide Exclusions:**  If death by suicide occurs within 12 months of the policy start or revival, the nominee receives either 80% of total premiums paid or the current surrender value, as long as the policy is active.   **Additional Life Option:**  In case of the suicide of either individual assured within 12 months, the nominee receives 80% of premiums or surrender value. Survivors can continue the policy with adjusted premiums.   **C. Tax Benefits:**  Consult a tax advisor for applicable benefits.   **D. Free-Look Cancellation:**  Return the policy within 30 days for a refund, minus applicable charges as per IRDAI Regulations 2024.   **E. Rider Information:**  Check the official website for details on Critical Illness (WOP CI) and Total and Permanent Disability (WOP TPD) waivers.   **F. Nomination under Section 39 of the Insurance Act 1938:** 1. Policyholders can nominate individuals for benefits upon their death. 2. Minors need a guardian to manage funds until adulthood. 3. Nominations can be updated anytime before maturity and require registration. 4. A change or cancellation of nomination must be communicated to the insurer. 5. Assignments under Section 38 cancel the nomination unless noted with the insurer.   **G. Assignment Under Section 38 of the Insurance Act 1938:** 1. Policies can be assigned with or without consideration. 2. Endorsements are required on the policy or via a separate document. 3. Assignments must be documented, signed, and witnessed. 4. Assignments become effective only after insurer acknowledgement.   **H. Prohibition of Rebates:**  As per Section 41, no rebate of commission or premium is allowed as an inducement for insurance policies, with penalties up to ten lakh rupees for violators.   **I. Non-Disclosure:**  Under Section 45, policies can’t be questioned after three years, except for fraud, if proven.   **J. Cancellation for Fraud:**  Policies will be canceled for confirmed fraud, with surrender value paid.   **K. Contact Information:** **Helplines:** General: 022-68446530, NRI: +91 89166 94100  **Email:** service@hdfclife.com, nriservice@hdfclife.com    **Grievance Options:**  Write to any HDFC Life Branch, email from registered ID, or visit the Grievance Redressal page.   **L. Taxes:**  Applicable indirect taxes may be incurred. Direct taxes will be deducted under the Income Tax Act, 1961.   **M. Electronic Insurance Account (eIA):**  Policyholders can manage life insurance in dematerialized form via an eIA. For more info, visit http://www.hdfclife.com/customer-service/life-insurance-policy-dematerialization.

**Disclaimer:** We collect only necessary data from open sources, such as hdfclife.com, and summarize it using AI tools. We strive to maintain the highest level of accuracy when summarizing key points. However, the author of this blog is not responsible for any discrepancies, inaccuracies, or omissions and cannot be held liable for any consequences that may arise. We recommend visiting the official website at hdfclife.com to review the terms and conditions before making any decisions. **A Note from the Author:** My name is Arvind Kumar, and I have successfully passed the IC-38 exam conducted by the Insurance Institute of India in accordance with IRDAI regulations. I am currently employed as a Financial Consultant and Life Advisor with HDFC Life Insurance Company, where I am authorized to advise on, customize, and sell insurance policies. It is essential to customize an insurance policy to meet individual needs, including survival benefits, critical illness coverage, and death benefits. Please note that an insurance policy cannot be purchased during or after an event, such as death; it must be acquired in advance. If you need assistance with insurance policies, feel free to contact me using the following methods: - **Phone and WhatsApp:** 9899423601 and 9971797791   - **Email:** apcsitbranju@gmail.com Best of luck!