HDFC Life to target urban women with new products

HDFC Life would launch new life insurance products over the next three months aimed at benefiting the urban women,a senior company official said today.

Private sector life insurer HDFC Life would launch new life insurance products over the next three months aimed at benefiting the urban women,a senior company official said today.

HDFC Life is a joint venture of Housing Development Finance Corporation Limited and United Kingdom based financial service provider Standard Life.

“We will bring more new products in three months time… it will be an serving the urban customers,” HDFC Standard Life Insurance Executive Vice-President (Marketing and Direct Channels) Sanjay Tripathy told reporters here.

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Tripathy who was here to unveil the key findings of a survey conducted by HDFC Life along with market research firm ValueNotes said 83 per cent of urban women follow financial discipline while 17 per cent were extremely disciplined in adhering to financial plan and management.

The study said urban women were not completely financially free and need improvement on aspects such as financial planning,sufficiency and adequacy.

Besides it also revealed that 44.4 per cent urban woman lack financial awareness and the gap between product knowledge and awareness is causing misalignment in her financial plans.

56 per cent of urban women consider their child’s education,while 33 per cent prefer financial planning for managing health expenses,it said.

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Tamil superstar Rajnikanth’s daughter and National award winner actor Dhanush’s wife Aishwarya formally launched the study here.

The survey was conducted across 400 women in 11 cities in January 2012 between the age of 25 and 40,he added.