HDFC Life and Policybazaar Introduce Premium Term Insurance with 100% Claim Assurance

In a significant development for India's insurance sector, Policybazaar and HDFC Life have unveiled their latest collaboration, introducing a new term insurance product called HDFC Life Click 2 Protect Ultimate. The announcement, made in Gurugram on February 10, 2025, marks a notable step in addressing consumer concerns about insurance accessibility and claims processing.

The new offering introduces several notable features designed to enhance policyholder benefits. Policyholders can opt for premium returns at maturity, providing an additional financial advantage. The policy also includes terminal illness coverage, which enables accelerated death benefit payments after a six-month waiting period. Furthermore, the product incorporates a smart exit provision, allowing policyholders to recover their premium payments, excluding taxes.

According to company officials, the product specifically targets urban professionals with annual incomes exceeding ₹10 lakh. The initial rollout encompasses eight major metropolitan areas: Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Kolkata, Ahmedabad, and Pune. The company implements a comprehensive medical underwriting process during policy issuance to maintain quality standards.

Commenting on the launch, Santosh Agarwal, Chief Business Officer of Life Insurance at Policybazaar.com, emphasized the significance of this partnership with HDFC Life, highlighting their focus on streamlining the claims settlement process.

Jatin Sabhani, Chief BroCA & Digital Alliances Officer at HDFC Life, reinforced the company's commitment to meeting evolving consumer needs. He noted that the partnership with Policybazaar has consistently delivered on their promise of providing financial security to customers' families during crucial times.