LIFE

Australia & New Zealand

QSuper launches new retirement income for life product – Product brochure, May 6, 2021. 

QSuper has launched its lifetime pension product. The main purpose of QSuper’s Lifetime Pension is to pay people a higher income with less risk. The pioneering product aims to maximise retirees’ cashflow converting their retirement savings into tax-free, fortnightly income. The Lifetime Pension is linked to QSuper’s Balanced investment option.

Australia & New Zealand

AIA Australia partners with estate planning solution Your Wills to provide holistic protection – Press release, April 29, 2021.

AIA Australia and Your Wills now have an exclusive partnership. Life and health policyholders will now be able to create a will. AIA Vitality members will receive a significant discount to complete their Will online.       

Bahrain

Solidarity launches life insurance plan with Covid-19 cover – Zawya, May 31, 2021.

The plan offers worldwide coverage in case of death or disability.  No prior medical records are required. There is no specific age band pricing and it offers flexible premiums.

Brazil

Zurich offers two new life insurance assistanceApólice, June 24, 2021.

The "Zurich Life For You" insurance plan offers, customers a choice can choose, at no additional cost. They can choose up to three assists out of 15 options' hiring the "Zurich Life For You" insurance. New services offered include Bike and Pet assists with the company's newly launched individual life insurance. (Text in Portuguese)

Brazil

Bradesco launches life insurance with new coverage and servicesApólice , June 14, 2021.

The new "Vida Viva Bradesco" offers more flexibility and a series of customizable coverage and assistance, protecting the insured and his family. IT offers coverage from 18 to 80 years, and insured capital of up to R$ 10 million for the death of the insured or spouse. (Text in Portuguese)

Brazil

AXA reinforces appetite in corporate life market – Sonhoseguro.com, May 10, 2021.

The Vida Corporate product has been repositioned. It now includes acceptance for Covid-19. It also now includes spouses and children and provides coverage for death and disability, medical and dental expenses as well as funeral assistance. (Text in Portuguese)

Canada

PolicyMe launches fully digital Life Insurance product, with up to $5 Million in coverage – Yahoo Finance, April 7, 2021.

PolicyMe, a digital life insurance platform, introduces a completely digital way for Canadians to purchase life insurance. The fully underwritten digital product also speeds up the process, with most users receiving approval within 20 minutes. This is down from an average four to six week waiting period.

Canada

Canada Life launches customizable term insurance product to maximize fit and flexibility – Press release, April 5, 2021.

Canada Life My Term life insurance is a new customizable term product.  Customers can pick the exact term length they want, between five and 50 years, to suit their unique needs. The plan offers flexibility to modify existing coverage, including converting coverage to a permanent life insurance policy at a later date.

France

Covéa Life launches with exciting new life insurtech Bequest Press release, June 30, 2021.

Bequest is a Life and End-of-Life estate management provider for the digital generation. The start-up has reimagined life insurance, using a digital platform to bring together a person’s life administration, family planning, wealth management and end-of-life requests, all under one ‘roof’.

France

MACSF and Tikehau Capital launch an innovative private debt Unit-Linked product in Life Insurance – Business Wire, April 16, 2021.

MACSF and Tikehau Capital are launching an innovative solution, creating a unit-linked product that enables savers to invest in the private debt of French and European unlisted SMEs. The evergreen format (i.e. with an unlimited life span) of the new investment solution gives investors more visibility into the evolution in their savings and liquidity.

Guatemala

Banco Azteca presents renewed life insurance Vidamax Plus – News in America, June 4, 2021.

Vidamax Plus is a life insurance plan that has been enhanced and now includes comprehensive medical assistance, death coverage and funeral services for the insured and their families. The benefits include unlimited medical consultations, funeral assistance, laboratory tests and telephone medical assistance 24/7. (Text in Spanish)  

Hong Kong

Transamerica Life Bermuda unveils Universal Life Alpha Pro (ULA Pro) And Universal Life Alpha Pro Century (ULA Pro Century) – PR Newswire, April 30, 2021.

ULA Pro and ULA Pro Century are new life plans. The new enhanced plans provide a unique combination of permanent life insurance coverage, cash value growth potential, and inherent design flexibilities. ULA Pro Century features a no lapse guarantee.

India

Aviva Life Shield Premium – Product brochure, June 2021.

Aviva Life Shield Premium is a term life insurance plan. The plan offers a choice of pay-out to the nominee of a lump sum, pay-out or 50-50. It offers flexible payment and coverage until the age of 80 years.

India

PNB MetLife launches life insurance policy offering protection for generations – Mint, May 28, 2021.

PNB MetLife Century Plan is a non-linked participating life insurance plan. It provides three income options—Super income, Smart Income and Future income. The Super Income will be paid from the first year onwards and a lumpsum benefit will be paid at maturity. The Smart option, the cash bonuses will be paid from the first year onwards and a lumpsum benefit will be paid at maturity. The Future income Cash bonuses will be paid from the 15th year of policy along with a simple reversionary bonus.

India

Exide Life Insurance launches ‘Guaranteed Wealth Plus’, a savings plan with unmatched income and guaranteed maturity benefits – Mint, May 18, 2021.

Exide Life Guaranteed Wealth Plus is a non-linked, non-participating individual life insurance savings plan. The plan comes in two variants: Income and Lump Sum. After customers pay premiums for 6 years with the Income variant, they can avail themselves of guaranteed fixed income pay-out for 30 years. Under the ‘Lump sum’ variant, customers can pay premiums for 6 years and avail of the maturity benefit as a lump sum.

India

Term Insurance Review: Max Life Smart Secure Plus Plan – Product brochure, May 2021. 

Max Life Smart Secure Plus Plan is a term life insurance plan It offers two death benefits, together with inbuilt benefits such as cover for terminal illness and a special exit value. The plan offers Life Cover or an Increasing Life Cover option. Benefits include terminal illness cover, accident cover and Critical illness cover.

Indonesia

OVO-Prudential Indonesia, Warung Pintar-Reckitt, LinkAja-SRC team up OVO and Prudential Indonesia will offer a digital sharia life insurance product – Fintech News, April 28, 2021.

The Asuransi Jiwa Kumpulan Syariah PRUTect Care product is a digital sharia life insurance product. Customers have a choice of monthly or yearly contribution payment schemes, starting from around IDR 5,000 (US$0.34) per month. The product can be accessed through the OVO app.

Indonesia

Bank DBS Indonesia and Manulife launch three new Investment funds – Press release, April 8, 2021.

The launch of three new choices of investment funds through unit-linked insurance products MiTreasure Ultimate Protection [MITUP], MiTreasure Optimax Protection [MITOP], and MiWealth Protection [MWP], namely Manulife Dana Pendapatan Tetap Jangka Pendek Dolar (MDPTJPD), Manulife Dana Ekuitas China Dolar (MDECD), and Manulife Dana Ekuitas Teknologi Global Dolar (MDETGD).     

Japan

TM Anshin launch “Smart Anshin Teiki” (Term insurance (no CSV)) for COLI – Press release, May 18, 2021.

Smart Anshin Teiki has an issue age of 15-80 years. The policy period is more than ten years and the maturity age up to 90 years. It includes a death benefit of 0.2 mill to 700 mil yen. (Text in Japanese)

Japan

AIR SSIC launch funeral insurance with services on preparation for end of life – Press release, May 2021.

The funeral insurance has an issue age of 40-84 years. the policy period is one-year renewable up to age 99. The plan includes a death benefit and a counselling service. (Text in Japanese)

Malaysia

Affin Islamic, Zurich Takaful offer affordable family plan – Maju Saham, April 7, 2021.

AFFIN Sure Cover is an affordable Family Takaful plan. The issue age is between 35 to 70 years. There is no need for a medical check-up before purchasing. The premium as low as RM50 per month.

Nigeria

Heirs Holdings design insurance, life assurance products to accelerate growth of insurance sector – The Guardian, June 1, 2021.

Heirs Life unveiled affordable savings, term life and inheritance plans, that provide financial security throughout customers’ life journey. Another innovation is the launch of a web portal that will enable customers to get an insurance quote in minutes and receive claims settlement in less than 24 hours, from their mobile devices.

Pakistan

TPL Life Insurance Ltd. launched Roshan Zindagi – The Nation, May 13, 2021.

‘Roshan Zindagi,’  is a unique insurance plan designed to help Non Resident Pakistanis (NRPs) and their families residing in Pakistan. The plan offers for NRPs accidental death coverage of over PKR 2.5 million, plus comprehensive health insurance benefits.

Pakistan

Jubilee Life partners with UBL to bring Jubilee - You Protect Plan – The Nation, April 6, 2021.

‘Jubilee - You Protect Plan' is a comprehensive health and life insurance plan. The death benefit for nominated beneficiary is PKR 500,000. The hospitalization benefit is up to PKR 10,000 for a period of up to 180 days.

Philippines

EastWest’s Komo launches the customizable on-demand life insurance Troo – Back End News, June 5, 2021.

EastWest will launch what is considered to be the first-ever customizable app-based, on-demand life insurance in the Philippines. Troo Flex will be exclusively available through Komo, the group’s fully digital banking service, offered through EastWest Rural Bank.

Philippines

AIA Future Builder – Product brochure, June 2021.

AIA Future Builder is a new variable life insurance plan. It is linked with Philam Vitality, the wellness program that incentivizes members with additional cash benefits and other rewards for healthy behavior, by knowing and improving their health.

Philippines

Insular Life launches Prime Secure Lite, affordable term life insurance with additional COVID-19 coverage – Press release, May 12, 2021.

Prime Secure Lite is a term life insurance that gives extra benefits in case of diagnosis of certain critical illnesses and death due to COVID-19. It offers coverage of up to P750,000 for a premium as low as P2500.

Philippines

Manulife adds new fund options to variable life insurance-linked products, giving customers access to global portfolios – Press release, May 10, 2021.

Manulife has recently added three products to its variable life portfolio they are Tiger Growth Fund, US Growth Fund, and Global Preferred Securities Income Fund.

Poland

MetLife introduces new insurance for Nest Bank's corporate customers – Press release, June 1, 2021.

The life insurance product is created for micro-entrepreneurs. It provides protection against permanent or temporary incapacity for work, serious illness or hospital stay following an accident. Insurance is available to entrepreneurs applying for a cash loan for companies at Nest Bank. Customers are not required to complete medical questionnaires or perform tests. Protection is available 24 hours a day, worldwide. MetLife products do not exclude epidemics, including COVID-19. (Text in Polish)

Singapore

Stashaway launches a term life insurance product to extend its wealth management product – PR Newswire, May 17, 2021.

Stashaway is a fully digital product available on the app. Coverage only takes a few minutes an no medical check is required. By just answering six health related questions customers can apply for coverage from $100,000 to $500,000 SGD.

Spain

Preventiva Seguros launches VIVO, a "totally customizable" death insurance – Press release, May 17, 2021.

Preventiva VIVO is a death insurance plan. The plan includes management of legal services after death for example notarial and living will, digital erasure, genetic legacy, and psychological support. (Text in Spanish)

United Arab Emirates

Axa Green Crescent Insurance company launches tailor-made workplace savings product – AMEInfo, April 28, 2021.

The Employee Secure Saver product has been developed specifically for the UAE market. It includes a market-leading guaranteed investment option provided by AXA Group that offers full protection of a participant’s capital and past gains.

United Kingdom

Lycainsure expands protection product range – Mortgage Introducer, June 7, 2021.     

Customers is offering new policyholders two months of free cover when they take out a one-year plan. Any customer that takes out a life insurance policy will also gain access to free will writing services, worth £130, from Cream FS.

United States

Haven Life introduces a newly priced Haven Term, making it more affordable for families to help financially protect their loved ones – PR Newswire, June 30, 2021.

Haven Term is now available at more flexible pricing for those under the age of 45 years and living in states other than California, Delaware, Florida, New York, North Dakota and South Dakota. In addition, it offers an extended free look period, streamlined application and a new 25-year term length.

United States

Ameritas launches new survivor life insurance product – Press release, May 26, 2021.

Value Plus Survivor Index Universal Life Insurance (Value Plus SIUL) is a new survivor life insurance product. It provides protection for to people and the benefit is payable on the death of the second person. It also offers Care4Life Accelerated Benefit Rider for the surviving insured which helps ease financial strain when diagnosed with critical, chronic or terminal illness.
  

United States

Midland National expands Its Index Universal Life product line – Yahoo Finance, May 26, 2021. 

Strategic Accumulator 2 is a new indexed Universal Life product that offers death benefit protection. It offers Fixed Interest Participating Policy Loan that uses a declared interest rate and participates in the index account.

United States

Unest announces partnership with Haven Life – Coverager, May 6, 2021.

UNest customers who live in eligible states and obtain a no-obligation Haven Life quote through the UNest app will receive a $5 reward into their child’s savings account. Additionally, existing Haven Term policyholders will receive a $25 investment on UNest when they sign up for an account via a promotional link.   
  

United States

Appalachian Underwriters offers life with Ethos – PR.com, April 21, 2021.

Appalachian Underwriters, Inc. has partnered with Ethos to offer life insurance. Agents will be able to offer both a level term life insurance in all states but New York, as well as Simplified Issue Term, Simplified Issue Whole, and Guaranteed Issue Whole Life options.

United States

USAA Life Insurance company introduces Guaranteed Issue Whole Life Insurance from Mutual of Omaha – PR Newswire, April 13, 2021.

USAA will begin offering its members Guaranteed Issue Whole Life insurance solution from Mutual of Omaha. The whole life plan will cover final expenses such as burial and funeral expenses. The plan requires on health questionnaire and carries a fixed premium.

United States

John Hancock meets strong market demand with new protection Variable Life Insurance product – Press release, April 5, 2021

Protection VUL, is now available for sale from all approved distribution partners. It offers an age-100 death benefit guarantee.  Customers can pair their policy with the innovative John Hancock Vitality Program. This will also give them access to tools, resources, incentives and rewards to help them live longer, healthier lives.

Vietnam

Chubb Life Vietnam launches Premier Youth Universal Life – Press release, May 18, 201

Premier Youth Universal Life is a lifelong health and protection solution. The issue age is from one month to 99 years. It offers coverage of 14 critical illnesses.