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Private insurer HDFC Life today launched a traditional product, Sampoorn Samridhi, that offers the benefits of both an endowment plan and a whole life plan.
“We design products that are in line with our customer centric approach. HDFC Life Sampoorn Samridhi is a flexible and affordable life insurance product for all customer segments, which offers a lump sum payout at the end of the selected term to fulfil long term goals,” HDFC Life Executive Director and COO, Mr Paresh Parasnis said in a release issued here.
HDFC Life Sampoorn Samridhi provides the flexibility in premium paying frequency — monthly, quarterly, half—yearly and annual as well as the options in deciding the term of the policy, he said.
Customers whose Sum Assured is Rs 5 lakhs and above can avail of a discount of 5 per cent on the basic premium, Parasnis added.
The eligibility for HDFC Life Sampoorn Samridhi is from 18 till 60 years with a minimum premium of Rs 12,000 annually.
Premiums paid are eligible for tax benefits, it said.
It is a joint venture between Housing Development Finance Corporation Limited (HDFC) and Standard Life plc, the leading provider of financial services in the United Kingdom.
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