HDFC Life launches term product for CSC channel

It is a non-participating term insurance plan with annual premium as low as Rs 112

Private life insurer HDFC Life today announced the launch of a new sales channel to take life insurance to semi-urban and rural India using the Common Services Centre (CSC) network. The company has designed HDFC Life CSC Suraksha, a term insurance plan to be sold through CSC channel.

Amitabh Chaudhry, MD & CEO, HDFC Life said this low cost and simple to understand insurance plan will be sold through CSC agents, thereby facilitating the reach of life insurance into hitherto untouched rural areas.

HDFC Life CSC Suraksha is a non-participating term insurance plan with annual premium as low as Rs 112. The life cover/Sum Assured that the policyholder can opt for in this plan will range from Rs 30,000 to Rs 2, 00,000. The policyholder can select the policy term between 5 years and 15 years wherein he will have to pay regular premiums throughout the policy term.

In the unfortunate event of death of the life assured during the term of the policy, the nominee will get an amount which will be higher of sum assured, 10 times Annualized Premium or 105 per cent of the total premiums paid till the date of death.