HDFC Life's new life insurance plan offers guaranteed income of upto 13% annually on sum assured | Mint
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Business News/ Money / Personal Finance/  HDFC Life's new life insurance plan offers guaranteed income of upto 13% annually on sum assured
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HDFC Life's new life insurance plan offers guaranteed income of upto 13% annually on sum assured

HDFC Life's this new insurance plan gives a discount on first-year premiums for online purchases. There is also a discount of 12% for 8 and 10 years of a premium payment term (PPT) and a discount of 15% for 12 and 15 years PPT.

HDFC Life's new insurance plan offers guaranteed income of upto 13% annually (HDFC Life press release )Premium
HDFC Life's new insurance plan offers guaranteed income of upto 13% annually (HDFC Life press release )

One of the leading life insurance firms, HDFC Life has launched a new insurance plan which offers guaranteed income of 11% to 13% annually as a percentage of the sum assured under the policy. The product HDFC Life Guaranteed Income Insurance plan also offers guaranteed, regular, tax-free benefits and guaranteed death benefits.

Aneesh Khanna – Head of Products & Segments, HDFC Life said, “At HDFC Life, our aim is to ensure financial security for our policyholders and their loved ones. Life insurance as a product category provides the dual benefits of protection and long-term savings."

Khanna added, "HDFC Life Guaranteed Income Insurance plan offers guaranteed returns and secures policyholders from future uncertainties. The plan offers a choice of premium payment terms and life cover even during the income payout phase. We hope individuals make the most of this plan and build a corpus along with a financial safety net for themselves and their families."

HDFC Life's this new insurance plan gives a discount on first-year premiums for online purchases. There is also a discount of 12% for 8 and 10 years of a premium payment term (PPT) and a discount of 15% for 12 and 15 years PPT.

Also, the plan provides life cover even during the income payout phase.

A policyholder will have the option to choose the income period of 8, 10, 12, 15, 20, 25, or 30 years.

Additionally, the policy provides guaranteed death benefits either in a lump sum or in monthly instalments as a family income benefit option.

The entry age for the plan ranges from 0 (zero) to 65 years.

It needs to be noted that this is a non-participating life insurance plan.

The HDFC-backed life insurance arm constantly endeavors to offer products that meet various life stage needs of individuals. With HDFC Life Guaranteed Income Insurance Plan, the Company is providing an opportunity for customers to build a financial corpus that would support them through a regular and guaranteed income.

HDFC said, life insurance is a necessity for every individual with responsibilities and long-term financial goals. HDFC Life Guaranteed Income Insurance Plan can enable the fulfillment of these goals.

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Published: 25 Feb 2023, 02:36 PM IST
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