HDFC Standard Life launches new life insurance policy

A new product has been launched by HDFC Standard Life which is a single premium investment-cum-protection plan called "Unit Linked Wealth Maximiser Plus." The policyholder has minimum premium paying option of Rs 1 lakh; and they can choose various fund options like Money Plus Fund, Bond Opportunities Fund, Large-cap Fund, Mid-cap Fund, and Manager's Fund.

HDFC Standard Life offers regular loyalty units of 0.10 per cent every year till the policy is not surrendered. The value of the fund gets accumulated and it is received at the end of the policy term. In case of unforeseen event like death of the policy holder during the tenure of the policy, HDFC Standard Life will pay the greater of the sum assured (less all applicable withdrawals) and the total fund value to the family members of the policyholder. The policy offers life insurance cover until the age of 99 years.