HDFC Life Introduces Video Life Certificate – An Industry First – for its Annuity Customers

by Suman Gupta

Completely online – offers convenience to senior citizens by eliminating multiple processes  

Life certificate can be submitted via video recording

HDFC Life, one of Indias leading life insurers, has been an innovator when it comes to life insurance products and services. Through its offerings, HDFC Life has not only managed to simplify life insurance but also made the customer journey easier thereby providing them with a superior experience.

HDFC Life, announced the launch of Video Life Certificate facility for its corporate and retail Annuity customers. This is an industry-first initiative and aims to offer greater convenience to customers.  A life certificate is a critical document that needs to be submitted by annuitants to continue receiving their Annuity, without interruption. The life certificate needs to be submitted at specified time intervals. Furthermore, this document requires verification from a bank or a medical practitioner. This process could be cumbersome for customers, particularly, senior citizens.

HDFC Lifes Video Life Certificate enables customers to submit life certificate online, in the form of a video. For this purpose, Annuity customers will receive a message along with a link, 90 days before the due date of their life certificate. They need to simply click the link, record a video of themselves and submit the same. This video serves as the life certificate. The process is completely online and eliminates the need for visiting banks, medical practitioners or even the life insurer.

Speaking on the launch, Mr. Srinivasan Parthasarathy, Chief Actuary & Appointed Actuary – HDFC Life, said, “As a company, we keep our ears close to the ground, listening to customers and addressing their needs through our innovative products and product related offerings. I am happy to announce the launch of the Video Life Certificate. This is yet another innovation by us, for our Annuity customers. We believe this will make lives easier for our customers. The Video Life Certificate offers them an easy and hassle free experience. It further simplifies our existing process wherein for the last five years we already accepted life certificates over email.

Submitting the Video Life Certificate is convenient and can be done within a matter of a few minutes. We do hope our customers make the most of this facility.”

HDFC Life has focussed on Annuity through offerings such as innovative products and superior service facilities. The Company has launched the industry-first Deferred Annuity product, Pension Guaranteed Plan, and offers Immediate Annuity products which have competitive rates.  Further, HDFC Life has launched a dedicated platform for Annuity customers, called Life 99, to enable individuals better plan their retirement. The Video Life Certificate is yet another effort in the direction of offering the best in class to Annuity customers.

About HDFC Life: HDFC Life Insurance Company Limited (formerly HDFC Standard Life Insurance Company Limited) (HDFC Life / Company) is a joint venture between HDFC Ltd., Indias 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, 2019, the Company had 40 individual and 11 group products in its portfolio, along with 8 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 421 branches and additional distribution touch-points through several new tie-ups and partnerships with over 270 partners comprising NBFCs, MFIs, SFBs, etc and including more than 40 new-ecosystem partners. The Company has a strong base of financial consultants.  www.hdfclife.com.