HDFC Life to launch 21 ULIPs, traditional plans by Jan 2014

Tags: News
Private insurer HDFC Life today said the company is planning to launch by January 2014 about 21 products, of which 10 will be market-linked and 11 traditional plans, in compliant with new regulations issued by the IRDA.

"We are pleased to make available to customers 21 products that will meet the diverse needs like protection, retirement, savings, investment and health.

"It is our constant endeavour to create insurance plans based on thorough need analysis of each segment. Further to these 21 products, we will also be launching new unique plans with specific focus on protection and long term savings," HDFC Life VP (Products) Sanjay Tiwari said in a release.

In February 2013, Insurance Regulatory and Development Authority (IRDA) had issued non-linked and linked life insurance products regulations to ensure that all products are consistent in design and are focused on meeting policyholders' expectations.

HDFC Life was also the first company to launch pension plans based on the new IRDA regulations.

The company had launched two unit linked pension plans and a new immediate annuity plan in December 2012.

HDFC Life is a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life plc, the leading provider of financial services in the United Kingdom.

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