The life insurer said that recently, IRDA issued non-linked and linked life insurance products regulations to ensure that all products are consistent in design and are focused on meeting policyholders’ expectations.
The benefits of the new investment plan will include: limited pay term, maturity benefit, death benefit, high sum assured discount and policy loan.
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Commenting on the launch, HDFC Life vice president of products, Sanjay Tiwari, said: "Keeping up with the trend, we are pleased to announce the launch of HDFC Life ClassicAssure Plus, which is a participating, traditional insurance plan that offers limited premium payment term along with a guaranteed reversionary bonus during the premium payment term.
"In line with the new regulation, the plan also offers higher death benefit during the policy term. This plan is ideal for meeting long-term financial goals and creating security and prosperity," Tiwari added.
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