HDFC Life ‘Smart Woman’ ULIP Plan Launched for Working Women

India’s private insurer HDFC Life launched an unit-linked plan (ULIP), Smart Woman, especially for working women in urban areas and expects it to add up to 30% of the overall premium.

The minimum annual premium for the ULIP-based plan is Rs 24,000 that goes up to Rs 1 lakh. The plan offers life cover up to 40 times the annual premium and convenient policy term of 10 and 15 years.

Smart Woman offers benefits at the critical life stage of life that includes pregnancy complications of birth of child with congenital disorder, diagnosis of malignant cancer of female organs and death of the spouse.

It is a pioneering product that takes the company's segment-based strategy further, Tripathy said adding the company will soon launch another such unique product targeted at youth aged between 20-35 years.

HDFC Life is a joint venture between leading housing finance institution Housing Development Finance Corporation Limited (HDFC) and Standard Life plc, the leading provider of financial services in the United Kingdom.