India's HDFC Standard Life is offering a capital-protected unit-linked life insurance product that uses a portfolio insurance strategy.
HSFC SL Crest Guarantee Fund Option offers investors the highest ever Nav seen over a seven year period, subject to a minimum unit value of INR15 (33 cents).
The product uses a dynamic allocation strategy that switches up to 100% of funds into equity (risky assets) and money market instruments and government bonds (safe assets).
The firm, a joint venture between local Housing Development Finance Corporation and the UK's Standard Life, follows SBI Life Insurance's recent portfolio insurance product, SBI Life Smart Performer.
The product is one of a spate of new launches which take advantage of the Insurance Regulatory & Development Authority's recently updated guidelines.
This product will appear shortly in Recent Additions (India).