Product Trends

LIVING BENEFITS

Symetra’s New Critical Illness Insurance Offers Employers Expanded, Flexible Coverage Options to Help Protect Employees at Every Life Stage. Press Release, June 30, 2021.

Symetra Critical Illness has a flexible plan design which offers employees a life stage approach. Its addition to cancer, stroke, heart attack it offers optional benefits for those starting a family, childhood illnesses such as autism and in later life dementia.

Huize Partners with Hengqin Life to Launch “Hui Xin an No.5” – A Customized Child Critical Illness Insurance. Yahoo Finance, September 2, 2021.

“Hui Xin An No.5” is a critical illness insurance product customized for meeting children’s protection needs. It provides coverage for 20 childhood diseases and 10 rare diseases. It offers coverage of up to RMB750,000 in insured amount for policies purchased in the first three months after product launch.

AZA introduces “LoveAssure Critical Illness Protection” Series. MediaOutreach, July 12, 2021.

The Series includes market-exclusive Dementia Multi-care Benefits that provides continuous annuity until the age of 100 to support the cost of long-term care for the insured who is diagnosed with severe dementias. LoveAssure Critical Illness Protection Series offers up to 100 months of Continuous Cancer Payout Benefit, providing the insured long-term financial support to fight against cancer.

Star Health Insurance Launches Platinum Variants of Cancer Care & Cardiac Care Plans. Policybazaar.com, Updated September 17, 2021.

Star Health has launched two new variants of their products: Star Cancer Care Platinum Insurance Policy and Star Cardiac Care Platinum Insurance Policy. These products address the needs of people who are diagnosed with cancer and cardiac conditions. There are no premedical tests required. Premiums can be paid quarterly, half yearly or annually.

FWD Takaful launches FWD FlexiCover Group Plan to provide customers with flexible coverage options. Press Release, August 13, 2021.

FWD Flexicover Group Plan has been designed to cover death, and customers are entitled to choose either a total and permanent disability (TPD) plan or a critical illness (CI) plan. Customers can also participate in both plans for more comprehensive coverage.

Manulife launches new, holistic critical illness plan, giving Malaysians greater peace of mind. Press release, July 1, 2021.

Advance Beyond Critical Cover (ABCC) provides holistic coverage from early stage of diagnosis to post treatment events. This enhanced Critical Illness plan provides Multi-Stage Critical Illness & Admission Events Benefit, Cancer Treatment Booster Benefit, Disability Care Benefit and Special Benefit.

AIA Life Debuts Innovative New “AIA Vitality” Cancer Insurance. Business Korea Daily News, September 10, 2021.

The “(Non-par) AIA Vitality Reliable Wellness Cancer Plan (Renewal)” is an addition to the Vitality Discounted Integrated product portfolio. This plan incorporates AIA Vitality, a personalized health and wellness program. Customers will receive discounts as they make steps towards a healthier lifestyle.

Voya Financial offers enhanced critical illness insurance. Press Release, August 18, 2021.

Voya has enhanced its critical illness offering. The critical illness insurance plan pays a lump-sum benefit upon the diagnosis of a covered illness or condition, such as a heart attack, cancer, or stroke. The offering now includes an optional rider that provides premium waiver for employees in quarantine, furloughed or temporarily laid off.