How Demonetization Helped Life Insurance Industry
Demonetisation also brought about a mindset shift among consumers, moving them to digital payments from cash. â€œLife insurance premiums are sourced in three ways: cash, cheques and online payments. Of course, soon after demonetisation the industry witnessed a sharp spike in cash payment of premiums but over time,households from Tier-2 cities that preferred cash areÂ getting comfortable with NEFT (National Electronic Funds Transfer) and ECS (Electronic Clearance Service) mandate.This huge behaviour change has significantly improved contactibility and will reduce unclaimed funds.
HDFC Life has smart Life insurance policies to help you make the right choice for your future.
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HDFC Life Insurance Company Limited. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.
Registered Office: Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Email: [email protected], Tel No: 1800-266-9777 (10 am to 7 pm). The name/letters “HDFC” in the name/logo of the company belongs to Housing Development Finance Corporation Limited (“HDFC Limited”) and is used by HDFC Life under an agreement entered into with HDFC Limited.
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