HDFC Life Insurance has introduced their online term plan called 'Click 2 Protect'. HDFC Life Click 2 Protect joins the league of online term plans which have created a huge buzz in the Indian insurance market. As the name 'Click 2 Protect' suggests, the company aims to sell this plan through the internet eliminating or limiting the offline process of distribution. To distinguish themselves from the competition, HDFC Life is offering some good features such as a maximum Sum Assured of Rs.10 crores in addition to the already competitive premium pricing.
Read Complete Review of HDFC Click 2 Protect Term Plan
Off late, there is a growing traction by the insurance companies on building their online channel for sales and distribution because of the sheer reach and potential the internet offers.
HDFC Life Insurance – India’s first private life insurance company went through a major re-branding initiative earlier this year after changing from the christened name HDFC Standard Life Insurance.
HDFC Life is already distributing some of their insurance plans through the online channel – Youngstar Super II which is a child plan, ProGrowth Super II, ProGrowth Maximiser and Crest. In the last year, they have gathered sufficient insight into online buying process and customer behaviour and smoothened out the rough edges which usually exist in the online distribution channel.
The online term plans bring in a lot of relief to the highly underinsured Indian market. The Indian insurance industry hopes to see a substantial hike in the risk cover with the increasing sales of online term plans. HDFC Life Click 2 Protect joins the fray of the online term insurance market which is gaining a lot of attention among the Indian customers.