HDFC Standard Life, one of the leading private life insurance companies in India, launched its new product, the Unit Linked Wealth Maximiser Plus, a single premium investment cum protection plan, with a minimum premium of Rs 1 lakh. Wealth Maximiser Plus is a unique investment opportunity for customers with a choice of thoroughly researched and selected investments.

Key Features:

• One time investment at the start of the policy
• Cover till the age of 99 years
• Regular loyalty units of 0.10% every year as long as the policy is not surrendered
• No medicals in case of eligibility, for applying through Short Medical Questionnaire (SMQ)
• Flexibility of investing in 5 funds -- Money Plus Fund, Bond Opportunities Fund, Large-cap Fund, Mid-cap Fund, and Manager’s Fund.

On the occasion of the launch of Wealth Maximiser Plus, Deepak Satwalekar, MD & CEO, HDFC Standard Life said, “Wealth Maximiser Plus is the first unit-linked product in the Indian life insurance industry to offer the opportunity of investing in ‘Manager’s Fund’ -- a fund that offers a dynamic exposure between other Equity and Debt-type funds.” The investment limits are follows:

• Money Plus: 0-5%
• Bond Opportunities Fund: 10-60%
• Large-cap Fund: 15-45%
• Mid-cap Fund: 15-45%

Customers may choose Manager’s Fund, if they would like the company’s investment manager to take decisions regarding reallocation between equity and debt funds while market conditions change. HDFC Standard Life’s Unit Linked Wealth Maximiser Plus will offer customers the opportunity to maximize returns by investing in 5 new funds, launched exclusively for this product.

Wealth Maximiser Plus allows people to choose the premium and the investment fund/funds. HDFC Standard Life then invests the specified premium, net of premium allocation charges in the chosen funds in the proportion specified by the customer. The accumulated value of the funds is received at the end of the policy term. In the event of unfortunate demise of the policyholder during the policy tenure, HDFC Standard Life will pay the greater of the Sum Assured (less all applicable withdrawals) and the total fund value to the family members of the policyholder.

Wealth Maximiser Plus is a single premium plan and is subject to appropriate tax treatment under the Income Tax Act 1961 and rules made there under or any other financial enactment prevailing from time to time. Currently Section 80C benefit is available for the premium paid into the plan subject to the limits in that section. Benefits received under Section 10 (10D) will be exempt from tax subject to the limits contained therein.

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About HDFC Standard Life

HDFC Standard Life is one of India’s leading private life insurance companies, which offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC), India’s leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom.

HDFC Standard Life’s Product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, and Investment. Customers have the added advantage of customizing the Plans, by adding optional benefits called riders, at a nominal price. The company currently has 19 retail and 6 group products in its portfolio, along with five optional rider benefits catering to the savings, investment, protection and retirement needs of customers.

HDFC Standard Life continues to have one of the widest reaches among new insurance companies. The company strengthened its number of offices from 103 to 572 across the country in less than 3 years. Through these offices, the company today services customer needs in over 730 cities and towns. The company also increased its depth in existing markets by increasing its Financial Consultant strength from 74,000 as on March 31, 2007 to 1,44,000 as on March 31, 2008.