India: Bajaj Allianz Life and HDFC Life launch new products

| 14 Dec 2023

Bajaj Allianz Life Insurance has introduced a variation of its participating savings plan, providing customers with a stream of increasing income while also protecting against the impact of rising inflation, while HDFC Life's new product is a guaranteed savings life insurance plan, designed to safeguard the future of loved ones' and attain their financial objectives.

Bajaj Allianz’s Life Ace-Increasing Income is a non-linked, participating, individual life insurance savings plan that provides customers with a consistent increase in income while protecting against rising costs. Tailored for a diverse range of customers, this plan allows individuals to save according to their financial requirements and capacity.

This plan not only caters to individual financial objectives but also emphasises flexibility in response to the changing economic environment by offering annually increasing income. It equips customers with a mechanism and a defence against the rising demands of daily life through expanding income options. As individuals age, the need for planning healthcare, long-term care, and post-retirement funds becomes imperative, and this plan aims to address these needs, reported Mint.

Meanwhile, HDFC Life’s HDFC Life Click 2 Achieve is a secure savings-oriented life insurance scheme, crafted to ensure the well-being of policyholders’ dear ones and help them achieve their financial goals.

HDFC Life Click 2 Achieve lets policyholders:

  • Experience an assured immediate income as soon as the following policy month begins.
  • Benefit from complete flexibility – ability to tailor plans to receive advantages in the form of immediate income, long-term income, lump sum, or periodic lump sum (money back).
  • Customise the levels of protection according to personal preferences, with flexible sum assured and optional rider benefits.