HDFC Life, India's leading life insurance company in online term space announced the launch of Click2Retire, an online unit linked pension plan that helps an individual to plan retirement by starting to invest as early as 18 years of age. This first of its kind of retirement plan is extremely cost effective as it invests 100% of the premium.
The plan only charges fund management fee and investment guarantee charge. On this aspect, it directly competes with ELSS Mutual funds and at the same time retains all the flexibilities offered by ULIPs.
On the occasion of the launch, Sanjay Tripathy, Senior EVP - Marketing, Product, Digital & Ecommerce, HDFC Life said, ''Early planning for retirement is imperative in today's age wherein advancements in medical science have helped increase life expectancy. In addition, a wide choice of career options and a fast paced life has evoked the thought of early retirement in the minds of the younger generation.
With increased longevity and the urge to maintain a similar lifestyle in one's post retirement phase as well, the need for appropriate retirement planning is an imperative. After attaining leadership in the online term category, creating an exclusive online savings plan and a unique Cancer Care health plan, we have further strengthened our online product offering for the internet savvy customer.''