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HDFC Life Launches New Click 2 Protect 3D Plus

ANI  |  Mumbai (Maharashtra) [India] 

The flagship is one of the most flexible and customizable protection plans with nine options covering Death, Disease & Disability ("3D")

In line with customer needs, maximum age at maturity now increased from 75 to 85 years, while policy term extended from 40 to 50 years.

Lifelong option covering the whole of life and used for legacy planning, enhanced with a premium payment term of 'up to 75 years'

Critical Illness Plus Rider earlier offered up to Rs. 50 lakh, now available up to Rs. 1.5 crore

HDFC Standard Life Company, one of India's largest has announced the launch of a new and enhanced version of its flagship and highly popular Click 2 Protect 3D Plus.

A pioneer in the Life space with innovative and customer focused products, has been constantly seeking distributor and customer feedback through its various touch-points.

Customer purchase patterns indicated that more than 2/3rd of Click to Protect 3D customers take policy term till the maximum allowable age. The life expectancy of Indians also continues to increase. This new version of Click 2 Protect 3D Plus offers a maximum age at maturity up to 85 years. The maximum term has also increased from 40 years to 50 years. Critical Illness (CI) rider value is now enhanced significantly up to Rs. 1.5 Crore. For the lifelong option, the premium payment term is now up to 75 years, making the product more affordable to customers. Many customers may not work beyond the age of 55 or 60 years and for them, the "Limited Pay" Option is also available.

This enhanced product is now available across all its platforms and channels.

Srinivasan Parthasarathy, EVP, Chief & Appointed Actuary, said, "The highly successful Click 2 Protect 3D Plus now offers a lot more options, thereby providing customers with the freedom to choose what is most convenient for them. 3D stands for death, disease and disability. While common term plans provide only death benefit, our product is a game-changer providing a comprehensive cover. It has both waiver of premium and lump sum benefits (through riders) for disability and disease (critical illness), making it stand out."

Yashish Dahiya, Co-founder and CEO, of Companies said, "has always been at the forefront of bringing The new version of Click2Protect - 3D Plus has an excellent customer proposition. Now with the enhanced policy term of 50 years, increased coverage till the age of 85 years, and the wider variants make it a great package for consumers."

HDFC Life Company Limited ('HDFC Life' / 'Company') is a joint venture between , one of India's leading housing institutions and Standard Life Aberdeen, a global investment company.

Established in 2000, HDFC Life is a leading long-term solutions provider in India, offering a range of individual and group that meet various customer needs such as Protection, Pension, Savings, Investment and Health. Customers have the added advantage of customising plans, by adding optional benefits called riders, at a nominal cost. As on June 30, 2018, the Company had 34 individual and 11 group products in its portfolio, along with 8 optional rider benefits, catering to a diverse range of customer needs.

HDFC Life continues to benefit from its increased presence across the country having a wide reach with 413 branches and additional distribution touch-points through several new tie-ups and partnerships comprising 189 partners across traditional and non-traditional channels including NBFCs, MFIs, Small Banks, Payments Banks, etc. The Company also has a strong base of financial consultants.

In Fiscal 2012, the Company established a wholly-owned subsidiary, HDFC Pension Management Company Ltd., to operate its pension fund under the National Pension Scheme (NPS). And in Fiscal 2016, the Company established its first international wholly-owned subsidiary in the UAE, HDFC International Life and Re Company Ltd., to operate its reinsurance

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 21 2018. 19:25 IST