Life Insurance Companies should be allowed to sell Pension and Health Insurance Policies: Deepak Parekh, Chairman, HDFC

Deepak Parekh, Chairman of HDFC said that IRDAI should allow Life Insurance Companies to sell Pension Policies and Health Insurance Policies. If IRDAI allows this then the Reach of Insurance will Increase in the Country. Parekh while Addressing to the Shareholders of Company in the Annountual General Meeting(AGM) says that Today Life Insurance Companies can only sell LIfe Insurance policies through Their Branches and Employees

Pension and Health Cover are the part of Life Insurance says Deepak Parekh

Deepak Parekh Says Worldwide Pension and Health Cover are part of Life insurance. Pension gives Strong Support to people after retirement whereas Health Insurance saves you from the Expenses in case of any Disease. Life Insurance policy agents should be allowed to sell Products like Health Insurance and NPS. This will Increase the Reach of Insurance in Country

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HDFC Life Sells 4 Life Insurance Policy During Covid

HDFC Life Sells 4 Life Insurance Policy During Covid
Commenting on the performance of HDFC Life In FY 2020-21 Deepak Said that HDFC Life sells 4 Crore Life Insurance Policies and Settled more than 2.9 Lakh Claims. As a result of this Company Settled More than 3,000 Crore Rupees

Economic Growth will be 8-10% in FY22

Parekh Told that In the Last 15 Months Company Lost 17 Employees and 38 Financial advisors. He also said that Indis is ready for the Fast Revival after the Second Wave of Covod-19. in FY 2021-22, Economy growth will be between 8-10%.

Net Profit Declines by 33%

In the First Quarter of FY 2021-22, Net Profit of Company declines by 33% and stood at Rs 302 Crore. In the Same Quarter of Last Financial Year i.e. FY 2020-21, Company Earns the Net Profit of Rs 451 Crore. The information sent to BSE, Insurance Company tells that in the First Quarter of FY2021-22 total premium collection increased by 31% and now stood at Rs 7,656 Crore. In the Same Quarter of Last Financial Year i.e FY 2020-21, It Total Premium Collection stood at Rs 5,863 Crore.

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