HDFC Life launches Guaranteed Income Insurance Plan

This product provides guaranteed, regular, tax-free benefits and guaranteed death benefit.

HDFC Life constantly endeavours 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 regular and guaranteed income.

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

Key benefits:

·         The plan provides a guaranteed income of 11% to 13% annually as a percentage of the Sum Assured under the policy

·         Discount on first year premium is available for online purchase; discount of 12% for 8 and 10 years of premium payment term (PPT) and a discount of 15% for 12 and 15 years PPT

·         The plan provides life cover even during the income payout phase

·         Individuals can choose the income period of 8, 10, 12, 15, 20, 25 or 30 years

·         Guaranteed Death Benefit can be availed of either in lump sum or in monthly installments as a family income benefit option

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

·         This is a non-participating life insurance plan

Speaking on the launch Aneesh Khanna, Head 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. HDFC Life Guaranteed Income Insurance plan offers guaranteed returns and secures policyholders from future uncertainties. The plan offers choice of premium payment term 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.”