HDFC Life, Indias 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.
Other key features of this plan include:
Premium Payment options of
Limited: 5 years, 7 years, 10 years
Regular: same as your policy term
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
- Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
- Now Save Rs.3150 on your Demat Account ...Click here
- Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
- Get the most detailed result analysis on the web - Real Fast!
- Actionable & Award-Winning Research on 500 Listed Indian Companies.