HDFC Life launches new Ulip

Private life player, HDFC Standard Life, today launched a new unit-linked insurance product (Ulip), assuring higher returns.

The product, christened HDFC Standard Life Crest, has a 30-day free look-in period against the usual 15 days so that investors understand the new Ulip better, post the Irda regulations which came into effect today, the company said in a statement.

Henceforth, the company said, all of its products will carry a 30-day free look in period.

In case an investor feels he/she has bought a wrong product, a choice will be given to switch over to an alternative product offering from the company within a year at a nominal additional cost, it said.