HDFC Life & HDFC Ergo launch Click 2 Protect Corona Kavach

Ø  A combination of HDFC Life Click 2 Protect 3D Plus and HDFC Ergo Corona Kavach

Ø  A comprehensive term insurance cover for an individual along with COVID-19 cover for the entire family

Mumbai, 2020: HDFC Life, one of India’s leading life insurance companies and HDFC Ergo, one of India's leading non-life insurers, have joined hands to launch a combi product ‘Click 2 Protect Corona Kavach’ to provide a complete financial protection package in the current pandemic environment, with HDFC Life’s Click 2 Protect 3D Plus (C2P3D Plus) and HDFC Ergo’s Corona Kavach.

HDFC Life's C2P3D Plus is one of the most flexible and customizable term plans in the market. HDFC Ergo’s Corona Kavach is an indemnity health policy that was launched earlier this year to offer cover against medical expenses incurred due to hospitalization of individuals seeking treatment for COVID-19, on a positive diagnosis for the virus, in a government authorized diagnostic centre.

Combi Product Highlights

·         The policy will provide all the benefits and features of Click 2 Protect 3D Plus and Corona Kavach. An individual can choose from the available options provided by HDFC Life's Click 2 Protect 3D Plus, including premium waiver for Accidental Total Permanent Disability or on diagnosis of Critical Illness and can also avail of a COVID-19 health cover that includes ambulance charges, home care treatment charges, pre and post hospitalization charges  if diagnosed with COVID-19

·         The combi-product offers two options under Corona Kavach plan  Individual Cover and Family Floater cover wherein the COVID-19 health cover can be extended to spouse, dependent children below 25 years of age, dependent parents and parents-in-law

·         The Corona Kavach plan provides coverage against treatment in case of hospitalization, home care treatment as well as AYUSH treatment and also covers Pre-hospitalization and Post-hospitalization expenses

·         The policy term and Sum Assured of C2P 3D plus & Corona Kavach are independent of each other. The product allows one to select C2P 3D Plus policy term and Sum Assured as per the plan option chosen. Further, one can choose COVID-19 Sum Assured from Rs. 50,000 to Rs. 5 Lacs that can be purchased for a term of 3.5/6.5/9.5 months

Speaking on the launch Srinivasan Parthasarathy, Chief Actuary & Appointed Actuary - HDFC Life, said, “The pandemic has impacted lives, created vulnerabilities in multiple areas and there is a general sense of uncertainty. One such area is the cost of treatment, in case one were to test positive for COVID-19. The expenses could lead to a financial setback for the family, especially where there is only one earning member.

Financial security is a must right now and consumers need to take concrete steps towards protecting their families’ financial future. Click 2 Protect Corona Kavach has been designed to provide comprehensive financial protection in the current pandemic. In addition to offering life cover, the product also includes a family floater facility which offers options in terms of adding family members into the plan.”

About Us

HDFC Life Insurance Company Limited (formerly HDFC Standard Life Insurance Company Limited) ('HDFC Life' / ‘Company’) is a joint venture between HDFC Ltd., India’s leading housing finance institution and Standard Life Aberdeen, a global investment company.

Established in 2000, HDFC Life is a leading long-term life insurance solutions provider in India, offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment, Annuity and Health. As on September 30, 2020, the Company had 36 individual and 13 group products in its portfolio, along with 7 optional rider benefits, catering to a diverse range of customer needs.

HDFC Life continues to benefit from its increased presence across the country having a wide reach with 420 branches and additional distribution touch-points through several new tie-ups and partnerships. The count of our partnerships (including master policyholders) is in excess of 300, comprising traditional partners such as NBFCs, MFIs and SFBs, and includes more than 50 new-ecosystem partners. The Company has a strong base of financial consultants.

For more information, please visit our website, www.hdfclife.com. You may also connect with us on Facebook, Twitter, YouTube and LinkedIn.