DHFL Pramerica Life Insurance Co. Ltd. (DPLI) launched its first new product of the year, ‘DHFL Pramerica Flexi Cash’, a participating endowment-cum-insurance plan. As the name suggests, Flexi Cash is an innovative product, which has been designed to provide flexibility to customers so that they can control their policies better. Not only can they can choose the premium payment term to align the maturity corpus with their financial planning, they can also pre-pone the maturity date of their policies to avail its benefits as and when they wish/ need to avail them.
In addition, Flexi Cash provides a guaranteed loyalty benefit of 10% of the annualized premium from the 2nd policy year onwards, during the premium payment term. This is to ensure that there is a continuous revenue stream for customers while they are paying premiums.
Talking about the new product, Anoop Pabby, MD and CEO, DPLI said “DHFL Pramerica Flexi Cash scores high on providing control to customers to customize it according to their financial needs. It is also tailor-made for those seeking the comfort of a continuous income stream in this uncertain investment climate. The plan also offers a life cover that extends beyond the premium payment period and offers bonus additions that accumulate to form a savings corpus, which customers can access at time of need.”
“We believe that Flexi Cash has a very strong customer proposition and is a great addition to our product portfolio. Going forward, we will continue to lay emphasis on designing innovative products and enhancing our quality of advice in our quest to become the most preferred life insurance partner for our customers and distributors,” Pabby added.
With the launch of DHFL Pramerica Flexi Cash, DPLI now has 17 insurance products and riders in its portfolio that are compliant with the new product regulations. These products comprise a mix of protection plans, child progress plans, savings plans and group plans.