HDFC Life to Create Awareness on Term Insurance Plans
MUMBAI: HDFC Life, one of India’s leading life insurers has launched a campaign on television, direct-to-home, and digital channels to drive the need for protection.
One of the key elements of a financial plan is Protection. An adequate life cover ensures that the family is protected in case anything happens to the breadwinner. HDFC Life’s latest campaign on term plans highlights how protecting loved ones and securing their future is extremely important, more so in these uncertain times.
Speaking on the campaign, Pankaj Gupta Sr. EVP (Sales) & Chief Marketing Officer said, “Recent surveys on Indian consumer sentiment reflect their concerns about their own as well as their family’s well being. There is a rising sentiment that in the current situation, one needs to be even more proactive about financial planning and securing their family’s future. Term insurance is a must-have product for every individual. It protects the family financially by playing the critical role of acting as an income replacement in case of an eventuality.
According to the Swiss Re report for FY2014, India has a huge protection gap of 92.2% – most Indians are either underinsured or uninsured. Given that consumers are now more open to term insurance, this campaign will help build further awareness around the category and our term plans, besides nudging them to take action.”
Rajdeepak Das, Chief Creative Officer – South Asia & Managing Director – India, Leo Burnett added “These past few months have brought home the fact that life is uncertain at best and highly unpredictable. But one thing that stays steady through tough times is the love for our family. And keeping this in mind HDFC Life talks about the importance of insuring yourself and thereby, ensuring that if a crisis comes unexpectedly, your family is well prepared to tackle the fallout. While we always hope for the best, we should also be prepared for the worst. We hope this campaign reaches out to maximum people and nudges them to take the first step towards securing their loved ones.”
HDFC Life has always had a customer-centric approach. The Company’s flagship products are designed keeping in mind different customer needs and can be purchased both offline as we as online. HDFC Life’s claims intimation process is available online. Customers and claimants can avail of the services without having to step outside their homes.
The company is facilitating a smooth and seamless experience for all. The company has settled 99.07% claims last year. It has settled 99.96% of non-investigative claims in Q4 FY20 through hassle-free claim2 settlement in 1 day.
Individual death claim settlement ratio by a number of policies as per audited annual statistics for FY 2019-20. T&C apply.
The flagship term insurance products are:
HDFC Life recently launched the Life Freedom Index Report in partnership with Nielsen. The national Life Freedom Index (LFI) shows a positive increase of 8.7pp over 2016, wherein the survey shows that people are more confident about their future, irrespective of external factors due to their growing financial awareness and ability to plan ahead. It also reflects that people respond to macroeconomic factors by adhering to a robust financial plan since it gives them the confidence to fulfill their future goals and financial needs. Given that life insurance is considered as a backup for uncertain times, this is the right time to build awareness around Protection and help customers make the right financial decisions.
HDFC Life’s Life Insurance products offer a wide range of insurance solutions for protection (term), Unit Linked Insurance Plans (ULIPs), retirement plans, health plans, child plans, and Woman Plans.
HDFC Life’s Indian Embedded Value has risen 17 percent to INR 22,580 crores during FY21 Q1 as compared to INR 19,230 crores during the corresponding quarter last year. HDFC Life also saw a 50% growth in Individual protection APE with the share of protection doubling from 5% in FY20 Q1 to 11% in FY21 Q1. The company has reported a 6 percent rise in Net Profit to INR 451 crores during the FY21 Q1 as compared to INR 425 crores during the corresponding quarter last year.
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2014 The Global Indian New Network (TGINN)