Life insurer HDFC Life said it will start selling insurance policies using the Common Services Centre (CSC) network set up by the govenrment.
The company has designed HDFC Life CSC Suraksha, an exclusive term insurance plan to be sold through CSC channel, it said.
The annual premium for the specal CSC Suraksha scheme starts at Rs 112. The life cover will range from Rs 30,000 to Rs 2,00,000. The policyholder can select the policy term between 5 years and 15 years.
In case of death, the nominee will get the higher of the sum assured or 10 times the annualized premium or 105% of the total premiums paid till the date of death.
The plan will also offer Tax Benefits as the premiums paid towards the policy will be tax-deductible under Section 80 (C) of the Income Tax Act, 1961, the firm said.
“This low cost and simple to understand insurance plan will be sold through CSC agents, thereby facilitating the reach of life insurance into hitherto untouched rural areas,” said Amitabh Chaudhry, MD & CEO, HDFC Life.