INSURANCE
HDFC Life announces launch of an exclusive data-led group term insurance plan
Feb-28-2017

Leading private life insurer HDFC Life has announced the launch of an exclusive data-led group term insurance plan in partnership with ET Money, the Times Internet backed financial services app. This is India’s first term insurance plan based on the spend pattern of the users.

Offered as an ET Money benefit, the group term life insurance plan can be availed exclusively by 1 million users of the ET MONEY app. They can get a group term life insurance coverage that ranges anywhere from Rs 25 lakhs to Rs 50 lakhs. Additionally, they can also save anywhere between 10 to 30 percent (based on their tax bracket) of the premium paid as per section 80C of the IT act. The entire policy process, right from calculating the spend pattern to signing up for the policy, is conducted in the ET Money app and takes less than two minutes, with no requirement of manual intervention, paperwork or medical tests.

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