Yes, you can get a loan against your HDFC Life Insurance Policy provided the plan offers the feature, and you have regularly paid your premiums. The premium(s) paid will act as a security for the loan taken. Therefore, in case you are unable to repay the loan or interest amount, the premiums paid against your policy so far will be used to recover the outstanding loan and interest amount.
To know more about HDFC Life Insurance Policy, visit here.