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Company : HDFC Life 
Tuesday, June 24, 2014 3:00PM IST (9:30AM GMT)
HDFC Life Revolutionizes Online Insurance Space by Launching a Second Generation Online Plan Click2Invest – ULIP
Mumbai, Maharashtra, India

  • After attaining leadership in online term insurance, now focuses on the savings category
  • New Plan passes all benefits to customer by offering 100% premium investment with just fund management and mortality charges – no premium allocation, policy administration and discontinuance charges

HDFC Life, India’s leading life insurance company in online term space announced the launch of Click2Invest - ULIP, a unique online Unit Linked Insurance plan that offers not just financial protection but also a range of investment options. This first of its kind of plan is extremely cost effective as it invests 100% of the premium and only charges fund management fee (1.35%) and a risk premium for mortality cover. On this aspect, it directly competes with ELSS Mutual funds & at the same time retains all the flexibilities offered by ULIPs. Click2Invest offers the choice of eight funds for investment keeping in mind the market outlook, time horizon, and most importantly the needs of the customer.

On the occasion of the launch Sanjay Tripathy, Senior EVP – Marketing, Product, Digital & Ecommerce, HDFC Life said, “We are extremely delighted to bring to our customers Click2Invest – ULIP, a most convenient, transparent and cost effective online buying experience which we feel will transform the way life insurance cum savings plans are bought in our country. IRDA set out its customer focused regulatory changes by introducing Charge Cap regulations in 2010 making ULIPs cost efficient compared to earlier versions and now HDFC Life has taken a step further by launching Click2Invest.  After attaining leadership in the online term category, we realized the need to bring a savings plan that will maximize the investment made by the customer. Keeping in line with our corporate value of customer centricity, we have launched Click2Invest which will pass on all benefits of investment and insurance to customers thereby enabling them to become smart investors.”

This plan provides a benefit of premium payment options of Single Pay, 5 Pay, 7 Pay, 10 Pay or Regular Pay. The essential thing to keep in mind is that the overall charge structure in this plan is such that 100% of your premium is allocated to the funds chosen by you. There are no premium allocation, policy administration and discontinuance charges. Charges include only FMC @ 1.35% p.a of your fund value and mortality charge depending upon the age and level of cover which over the long term reduces as your fund grows and invariably help you in wealth creation. 


Please see the below table to check for your age eligibility to purchase this plan. You can choose your premium, premium payment term and level of protection subject to the limits mentioned below. 
Parameters Minimum Maximum
Age at Entry 0 years (30 days) 65 years
Age at Maturity 18 years 75 years
Premiums Single: Rs. 24,000 No limit, subject to Underwriting
Annual: Rs. 12,000
Half-yearly: Rs 6,000
Quarterly: Rs. 3,000
Monthly: Rs. 1,000
Sum Assured (Fixed)– Single Premium 125% of Single Premium
Sum Assured (Fixed) - Regular & Limited  Premium (Age at Entry <= 55 years) 10 x annualized premium
Sum Assured (Fixed)- Regular & Limited  Premium (Age at Entry > 55 years) 7 x annualized premium
Policy Term 5 to 20 years
Premium Payment Term Single Pay
Limited : 5, 7 and 10 years
Regular: 5 to 20 years

All ages mentioned above are age as of last birthday

Other key features of this plan include:
  • Premium Payment options of 
    • Single
    • Limited: 5 years, 7 years, 10 years
    • Regular: same as your policy term
  • Minimal Charges 
    • Premium allocation charge – Nil. 100% of your premiums are invested
    • Policy administration charge – Nil
    • Policy Discontinuance charge – Nil
    • Fund Management Charge – 1.35% p.a. of the fund value charged daily
    • Mortality Charge – levied every month for providing you with the death benefit in your policy depending upon the age and level of cover. This charge will be taken by cancelling units proportionately from each of the fund(s) you have chosen
  • Choosing from a range of 8 fund options
  • Tax exemption under Sec 80C and Sec 10(10D) of IT Act, 1961, and offers the benefit of EEE structure wherein no tax is levied on the maturity amount

About HDFC Life

Established in 2000, HDFC Life is India’s leading long-term life insurance solutions provider offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment, and Health. The company also offers Women’s Plans to meet specific needs of women. Customers have the added advantage of customizing plans, by adding optional benefits called riders, at a nominal price. The company currently has 23 retail and 8 group products in its portfolio, along with 9 riders.

HDFC Life continues to have the widest reach with about 500 branches in India touching customers in over 900 cities and towns. The company has also established a liaison office in Dubai. The company has a strong presence in its existing markets with a strong base of Financial Consultants. HDFC Life is a joint venture between Housing Development Finance Corporation Limited (HDFC), India’s leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom.

HDFC Life’s online term plan Click2Protect is the leading product in its category in the market and the company has insured over 1.5 lakh lives during a period of over two years.

For more information, please visit our website, www.hdfclife.com. You may also connect with us on Facebook, Twitter, Youtube, LinkedIn, Blog and Google+.

For News Release background on HDFC Life click here
Media Contact Details
Supriya Saxena Negi, HDFC Life, +91 (22) 67516324 , supriyasaxena@hdfclife.com
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