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HDFC Life ties up with Indiabulls Housing Finance Limited for retail products distribution

HDFC Standard Life Insurance Co Ltd, India’s leading private life insurance company, today signed a corporate agency agreement with Indiabulls Housing Finance Limited, India’s second largest private housing finance company to distribute HDFC life retail insurance products to their customers.

HDFC Life's partnership with Indiabulls Housing already provides their home loan and loan against property buyers with ‘Credit Protect Plus’ group policy of HDFC life that gives the customers option to enroll in the policy and protect their outstanding loan in case of an unforeseen event. However, with this new tie up, HDFC Life and Indiabulls Housing are taking their partnership to a new level by distributing retail life, health and pension products of HDFC Life to Indiabulls Housing customers throughout India. This tie up will help increase HDFC Life's reach by getting access to new customers across geographies.

Commenting on the partnership, Amitabh Chaudhry, MD & CEO – HDFC Life said, “For a retail customer, especially in metros and Tier I / II cities, receiving finance for a home and insuring their family’s wellbeing is the top most priority. This partnership with Indiabulls provides an ideal solution where we are providing the consumers with finance as well as a suitable cover. This will help us too to deepen our reach in the country.” Glad to embark on a new association with HDFC Life, Mr. Gagan Banga, Vice Chairman and Managing Director, Indiabulls Housing Finance Limited said, “Our foremost effort has always been to maximize the value that we can provide to our customers. Having already partnered with HDFC Life to provide customers the facility to protect their home loan, we feel it is a natural extension to provide the ease and convenience to explore further options in insurance from HDFC Life for our customers. Our partnership with HDFC Life has been one of immense strength and I wish for its continued success wherein consumers reap the maximum benefits.”

HDFC Life's ‘Credit Protect Plus’ policy in partnership with Indiabulls is a comprehensive benefit plan which offers financial protection in event of death by providing a risk cover against the loan amount.

About HDFC Life
HDFC Standard Life Insurance Company Limited ('HDFC Life') is a partnership between HDFC Ltd., India’s leading housing finance institution and Standard Life, a global long term investment savings player.

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, and Health. Customers have the added advantage of customizing plans, by adding optional benefits called riders, at a nominal price. As on March 31, 2016, the Company had 28 individual and 8 group products in its portfolio, along with 7 optional rider benefits catering to a diverse range of customer needs.

HDFC Life continues to benefit from having a wide reach with 398 HDFC Life offices in India and 9,000+ distributor touch-points. The Company has a strong base of Financial Consultants. The Company has also recently completed incorporation of its wholly owned subsidiary in Dubai to offer reinsurance services.

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About Indiabulls Housing Finance
IBHFL is India’s 2nd largest Housing Finance Company by profits and networth in the private sector. IBHFL has a balance sheet size of Rs. 71,199.2 crore and a network of 222 branches with over 5,200 employees. It provides quick, convenient and competitively priced home loans in the affordable housing segment. IBHFL enjoys a long-term AAA rating.

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