Product Trends

LIFE

Robi offers BDT 100,000 life insurance for bundle subscribers. MSN news August 2, 2021.

Robi is offering Tk1 lakh life insurance coverage to customers on specific bundle packs purchase. Customers recharging Tk324 or Tk104 will automatically receive insurance coverage and benefits from Health Plus, Robi's digital health platform.

Porto launches more affordable and digital individual life insurance. Apolice, September 28, 2021.

Porto Seguro launched Vida ON, an affordable life insurance policy with a 100% digital onboarding journey. Through the broker's online sales link or the insurer's own website, the customer can make the additions in a few minutes. Onboarding can be made from R$ 9.26 per month and may vary according to age and coverage options.(Text in Portuguese)

Omint Seguros Launches Focus, new individual life product. Segurosbr, July 2021.

Omint announced the arrival of its new individual life product, Omint Foco that features automatic renewal of the policy for the 10- and 15-year terms, which do not undergo new approvals or risk analysis. A customer can change the temporary cover from death to life. (Text in Portuguese)

next launches Life Insurance from R $ 8.90 per month with wide coverage. Press release, August 4, 2021.

next launches Life Insurance from R $ 8,90 per month with wide coverage. The coverage applies both in case of natural and accidental death, with initial compensation of R$10,000. the customer can list up to 15 beneficiaries, extended funeral assistance and pet assistance. (Text in Portuguese)

Fanhua launches customized whole-life insurance with Dingcheng Life and Gen Re. Yahoo News, August 26, 2021.

Huading Number One is customized whole-life insurance product that targets at mid-and-high net worth individuals. The product offers high cash value that grows over the coverage period, a flexible option for better financial planning, an option to transfer the cash value balance into an annuity policy, and the option to place it into a life insurance trust.

Old Mutual Ghana launches “OBRA PA RETIREMENT SALARY” to provide lifetime guaranteed stream of income for retirees. Press release, August 13, 2021.

The Obra Pa (which means ‘good life’) Retirement Salary was designed to help retirees experience all the good things they want in retirement. In exchange for the payment of a lump sum upfront, Old Mutual commits to paying guaranteed monthly income to the retiree for the rest of their lives.

Sun Life Hong Kong launches Venus II. Product brochure, September 2021.

Venus II is a single pay PAR savings plan. The plan is easy to apply for and no medical underwriting is required. The plan offers a non-guaranteed reversionary bonus and a non-guaranteed one-time terminal bonus. It also offers three flexible death benefit settlement options.

Sun Life Hong Kong Launches New Insurance Plan - Vital. Yahoo Finance, July 8, 2021.

Vital is an eligible life insurance plan. Under the Policy Reverse Mortgage Programme (PRMP), clients who are aged 60 or above can apply for policy reverse mortgage loans.

SBI Life launches new-age term insurance policy. Live Mint, August 18, 2021.

SBI Life eShield next is an individual, non-linked, non-participating, life insurance plan. The plan has three options: level cover, increasing cover, and level cover with future proofing benefit.

Aviva Fortune Plus Plan. Product brochure, July 2021.

The Fortune Plus Plan allows customers to choose the policy term, premium paying term and premium amount. It also offers a feature of returning at least 100% of the charges paid by a customer during the policy term. Customers can also extend the coverage term from 5-10 years beyond the original maturity date.

Lifenet to Start Sales of Money Forward Life Insurance. Press release, July 1, 2021.

Money Forward Life Insurance is a Lifenet insurance product that customers can apply for online if they have reviewed life insurance products in the Money Forward Fixed Cost Review. It offers simple and easy to understand insurance coverage.

Hanasaku Life launch SI term insurance (no CSV type). Press release, July 1, 2021.

The SI term insurance plan has an issue age of 20-80 years. the policy is renewable up to the age of 90. The plan has a death benefit and 3CI WoP Rider. There are only three underwriting questions. (Text in Japanese)

MetLife launch GI IS single premium whole life insurance (USD-based 21). Press release July 1, 2021.

The whole life insurance plan has an issue age of 0-100 years for the policyholder and an issue age of the insured from 40-85 years. The plan has a single premium and includes a death benefit. (Text in Japanese)

Manulife launches Signature Heirloom (VI) to support Malaysia’s wealth management needs. Press release, July 15, 2021.

Signature Heirloom (VI) is a US Dollar-denominated Universal Life plan for high-net-worth (HNW) individuals and business owners in Malaysia. This plan is for customers who wish to leave a legacy to their family. Those aged 20-80 can sign up for Signature Heirloom (VI) starting with a minimum of USD $500,000 coverage.

InLife launches investment-linked insurance plan. Business World, August 31, 2021.

Solid Future Global is a multiple pay life insurance plan with an investment component. The product is available to Filipinos aged 0-70 years old with P50,000 worth of yearly regular premiums.

HSI launches new insurance product “myFuneral Plan”. The Nation, July 3, 2021.

H Savy Insurance (HSI) has launched “myFuneral Plan”, a new funeral insurance policy. The myfuneral Plan will cover death by natural causes and accidents. There is a 12-month waiting period for death because of illness.

Great Eastern releases first Green Life Insurance product. Singapore Business, July 2021.

Great Eastern has launched its first green life insurance product in Singapore. GREAT Green SP is a short-term endowment policy that invests its portfolio assets “to achieve significant positive environmental impact.”

NTUC Income launches first subscription-based insurance. ICMIF, August 03, 2021.

NTUC Income has announced the launch of TRIBE, a product that offers insurance in customisable subscription packs with no lock-in periods. TRIBE offers three modular insurance packs – Essentials Pack, Child Pack and Recovery Pack. Customers can subscribe to and customise their chosen pack based on their needs and desired insurance premiums.

The Exeter launches “Income First”. Press release, July 12, 2021.

The Exeter has launched Income First which combines its well-known Income One and Pure Protection products. The Exeter is introducing level guaranteed premiums across all occupation classes, together with continuing to offer age-costed options.

Quility Launches Fully Digital Term Life Product, Quility Level Term, in Collaboration With SBLI and Afficiency. PR Newswire, September 21, 2021.

Quility Level Term offers clients a simple, personalized policy with an entirely digital application and purchase process. Clients can apply online from the comfort of home and receive their new policy in just minutes. The simplified issue product provides a 100% digital experience with no medical exam necessary to qualify for coverage and an on-the-spot decision in minutes.

Ash Brokerage, Ameritas and SCOR reveal new Instant Decision Term Life Product. PR Newswire, August 24, 2021.

Ash instant term life is a digital product available via the Ash Term Express platform. An online underwriting decision is made in seconds.

LifeSecure enters life insurance market. Coverager, July 27, 2021.

LifeSecure launched two life insurance products: the final expense and a term life. Both are underwritten by Swiss Re iptiQ’s insurance carrier, Lumico Life Insurance.

Introducing John Hancock’s All-New Protection VUL. Insurancenewsnet.com, August 18 2021.

The new Protection variable universal life product, Protection VUL that offers significantly lower premiums and cash value growth potential. VUL policyholders can earn rewards and premium savings of up to 15 percent for the everyday things they do to stay healthy with the John Hancock Vitality program.

Penn Mutual Introduces Protection Variable Universal Life. Press release, July 19, 2021.

Protection Variable Universal Life (PVUL) is a permanent life insurance product. It provides a guaranteed lifetime death benefit protection. The product offers a lifetime no-lapse guarantee rider at no additional cost.

Two new term life insurance products. Coverager, July 14, 2021.

EMC National Life Company has introduced two new term life insurance products: Accelerated Term 2.0 and Life Promises Term.

Fabric Increases No-Exam Life Insurance Coverage Limit and Adds Longer Term Lengths to Serve More Families. PR Newswire July 14, 2021.

Fabric announces new product features which include no-exam eligibility for up to $1.5M in term life insurance coverage. The age for eligibility for no-exam has been extended to 60, and the addition of 25- and 30-year term length options.

Old Mutual Zimbabwe ventures into funeral services. Ebusiness Weekly, July 5, 2021.

Old Mutual Zimbabwee will be offering End to end funeral services for customers who prefer access services from under one roof. The group intends to roll out in Pelandaba with additional branches in the second half of the year.

ZB launches funeral plan. All Africa, august 25, 2021.

The ZB cash funeral plan is an enhanced plan that provides post-burial benefits to the policyholder. The post-burial benefits include tombstone, memorial service, school fees and cash for groceries.