Chubb and Nubank launch fully digital life Insurance offering in Brazil. PR Newswire, December 1, 2020.
Nubank Vida includes a basic coverage of natural or accidental death and funeral assistance, as well as living benefits covering hospitalization for accident, disability for accident and funeral assistance for family members. The product is fully customisable on a digital platform. The entire contracting process, including cost calculator and service confirmation, takes minutes using Nubank's app.
Foresters Financial launches new accidental death insurance. Press release, December 14, 2020.
Foresters Financial announce the launch of its refreshed Prepared II Accidental Death Term Insurance. The issue age is from 18 to 70 years of age increased from 65 years. The coverage has been increased to $500,000. Benefits include the addition of three optional riders: Waiver of Premium Rider (Accident Only), Disability Income Rider (Accident Only), and Return of Premium Rider.
Introducing Empire Life Disability Credit Protect, a new rider for term and whole life insurance.
Canada NewsWire, November 19, 2020.
Empire Life Disability Credit Protect is a new disability rider available on most term and whole life insurance plans. The rider is designed to provide the policyholder with a monthly benefit to help them to continue to meet their monthly loan obligations. The rider can be combined with a critical illness rider.
Goose offers low-cost insurance through partnership. Life Health Professional, November 11, 2020.
Goose Insurance has teamed up with Industrial Alliance Financial Group to offer accessible and affordable life coverage. Canadian smartphone users under 69 years old can apply via the app. Customers can get up to $50,000 of life insurance for as little as $5 a month. The monthly premiums are determined by age, gender, and smoking status.
ritchee launches life insurance policy “ritchee Life”. Coverager, December 14, 2020.
French management consulting firm ritchee has introduced ritchee Life, a life insurance product underwritten by Generali France. The 100% clean-share life insurance policy is 100% digital. It is available from €500.
Old Mutual launches Black and White Family Plan to ease financial burden on bereaved families. Modern Ghana, November 25, 2020.
The Black and White Family plan is a digital funeral policy. Customers can apply via WhatsApp. This funeral cover starts from GHS2,000.00 to GHS20,000.00 and covers the policyholder as well as selected spouse, children, parents, and parents-in-law. The plan has low premiums and pays out within 48 hours of reporting a claim.
Manulife launches enhanced long-term savings plans ManuGrand Saver 2 and ManuImperial Saver 2. Press release, November 16, 2020.
Manulife has launched two new enhanced savings plans, ManuGrand Saver 2 (MGS 2) and ManuImperial Saver 2 (MIS 2). The key new feature is a premium holiday. If customers choose to pay for the plan over five or 10 years, they may take a premium holiday for up to two years at any time after the second policy anniversary. Customers can also nominate a contingent life insured to give greater flexibility in legacy planning.
Aditya Birla Sun Life Insurance launches ABSLI Assured Income Plus. Financial Express, December 7, 2020.
The Assured Income Plus plan is a non-linked, non-participating individual savings plan. It offers premium flexibility with terms of six, eight and 12 years. There are two options: The Income Only option allows customers to fulfill their income needs. The Income Benefit with Return of Premium helps create a legacy for one’s family.
SBI Life launches ‘Smart Future Choices’. Product brochure, December 7, 2020.
SBI Life Smart Future Choices is a non-linked, participating life insurance savings product. The plan allows the customer to choose the premium amount, term policy, and term payment policy. The features of the plan can be reviewed based on the customer’s changing needs and requirements.
Aviva India Wealth Builder Plan. Product brochure, November, 2020.
Aviva Wealth Builder is a non-participating individual life insurance plan. The plan offers flexibility in premium payments and a guaranteed payment to the nominee on the death of the policyholder. The policy is available for easy and online purchase.
The policyholder can also add the benefit in the event of accidental death.
Canara HSBC OBC Life Insurance launches new “Invest 4G” plan with better customized benefits. GPN, November 12, 2020.
INVEST4G is a unit-linked individual life insurance savings plan. The plan gives three options to customers: Life Option, Care Option, and Century Option. The Life option ensures financial protection for the family. The Care Option provides life coverage along with Premium Funding Benefit. The Century Option is a whole life option available for the policyholder until the age of 100 years.
Edelweiss Tokio Life launches COVID life insurance policy. Press release, November 9, 2020.
Covid Shield+ is a one-year individual term life insurance product. It offers protection against COVID-19 hospitalization. There are no medical tests required and the starting premium is Rs 5,329.
IDBI Federal Life Insurance launches new endowment policy. LiveMint, October 20, 2020.
IDBI Federal Life Insurance Guaranteed Income Plan is a non-linked, non-participating life insurance plan. Customers can choose the premium payment term and policy term. The premium starts from ₹15,000 per annum.
Bharti AXA Life rolls out Premier Protect Plan with increased security at different life stages. Financial Express, October 14, 2020.
Bharti AXA Life Premier Protect Plan offers three death benefit payout options. The options include lump sum, monthly income, and lump sum plus monthly income. The policyholder can increase the sum assured on three milestones: marriage, purchase of a house, and the birth of a child.
IndiaFirst Life launches first of its kind Guaranteed Protection Plan with seven innovative coverage options. Press release, October 12, 2020.
The Guaranteed Protection Plan is a non-linked, non-participating term life plan. It offers seven different coverage options. The customer after five years of premium payment will get life coverage up until 99 years of age.
Max Life Insurance launches 'Buy Now, Pay Later' feature. Financial Express, October 8, 2020.
The Buy Now, Pay at Approval feature allows one customer to book an insurance policy in advance and pay at the time of issuance. This feature is available to customers making a digital purchase.
Make it easier to access protection for Indonesians, Allianz Indonesia and GoPay Launch #ProteksiCumaCuma. Press release, October 28, 2020. (Text in Indonesian)
The #ProteksiCumaCuma program provides free premium life insurance protection to all loyal GoPay Plus users. The sum assured is Rp1,000,000. The plan also offers a free one-time teleconsultation with Halodoc.
MetLife launches Variable Insurance (2020), “Life Invest”. Press release, November 2, 2020. (Text in Japanese)
Life Invest has an issue age of 0 to 70 years of age. The policy period is up to age 50 to 80 or 10 to 30 years.
The benefits include death, maturity, and temporary partial disability.
Gibraltar BSN launches GoProtect Platinum, offering coverage starting from RM500,000. Bernama, December 28, 2020.
GoProtect Platinum is a high coverage investment-linked plan. The plan offers coverage starting from RM500,000 for death, total and permanent disability, with accidental death coverage increasing fourfold if death occurs overseas.
Gain financial security with Allianz 1Cover and Allianz BolehCover. Press release, December 3, 2020.
Allianz 1Cover is an affordable 30-year term life insurance plan for those aged between 16 and 45 years old. It offers a choice of a sum insured of RM50,000, RM100,000, or RM200,000. Allianz BolehCover has an issue age of between 46 and 70 years. Allianz BolehCover requires no health questions or medical examination.
Takaful Ikhlas launches two new products in conjunction with Digital Share week. Press release, November 20, 2020.
IKHLAS Bersama is an all-in-one protection plan for individuals from all walks of life. IKHLAS Dariku is a protection plan that focuses on the granting of Hibah. It also provides additional death benefits whereby next of kin will be paid an additional 100% of the basic sum covered for death as a result of cancer. IKHLAS Dariku also provides cash rewards to customers upon life events such as marriages, the birth of a child, purchase of new homes, performing Hajj, as well as traveling to five different countries.
Prudential introduces new Investment-Linked Funds to tap global equities. Malaysian Business, October 22, 2020.
Prudential introduces two investment-linked funds, PRULink Equity Plus and PRULink Managed Plus. PRULink Equity Plus Fund is designed for investors with an aggressive risk profile and who wish to invest in both local and global equities.
PRULink Managed Plus Fund, on the other hand, offers a balanced risk profile by investing in high-quality Malaysian and foreign bonds besides local and global equities.
BBVA Insurance Mexico strengthens its individual life product. Press release, November 2020. (Text in Spanish)
BBVA Life Insurance benefit plan is carried out in conjunction with Vitality. Customers can earn points for good health behaviours. These rewards are awarded in establishments such as Amazon, Starbucks, and Fitbit, initially.
1Link launches PayPak loyalty program with Takaful coverage in collaboration with TPL Life. Press release, September 28, 2020.
TPL Life will provide complimentary Family Takaful coverage to all new and existing PayPak card holders of Islamic accounts. The PayPak loyalty program offers customers a range of deals and discounts with merchants nationwide. It also offers free Takaful coverage up to Rs 100,000 in case of death, including accidental and natural causes.
Insular Life rolls out new bundled insurance plan. Business Mirror, November 16, 2020.
The Guaranteed Issue Offer (GIO) product allows customers to set up a life protection and investment plan. The issue age is from 18 to 60 years. GIO provides life insurance coverage equivalent to five times the annual premium.
Razer Fintech to collaborate with FWD Singapore to bridge insurance gap for youth and millennials in Singapore.
Press release, October 27, 2020.
FWD will offer $100,000 complimentary term life insurance coverage to each of the first 1,337 users who qualify to be Razer Premium Card holders. Other relevant insurance products such as cancer and critical illness will be added to the platform.
Utmost Wealth Solutions announces the launch of new FOCUS (Singapore) product. Press release, October 28, 2020.
FOCUS (Singapore) is a regular savings proposition combining an investment-linked life assurance policy with a range of underlying investment funds designed to suit client needs.
Union Assurance disrupts the future of life insurance with Clicklife. Lanka Business, December 16, 2020.
Union Assurance announces the launch of Clicklife, a turnkey product that offers protection plans in a secure, streamlined, and user-friendly digital environment. Clicklife is a fully digital end-to-end solution that offers attractive pricing for as low as Rs 23/- per day for a cover of Rs 2 million. The app provides real-time updates on policy information.
Term life cover for serving military personnel. Press release, November 2020.
The term life insurance product is designed especially for members of the armed forces. The cover will be distributed by newly launched specialist broker, Absolute Military. It will provide coverage up to 90 days before deployment. The product provides up to £150,000 of cover immediately.
Sproutt Partners with SBLI and Afficiency to expedite approval process for personalized life insurance policies. PR Newswire, December 15, 2020.
The life insurance is offered in conjunction with SBLI and Afficiency. Sprott’s Quality of Life Index assesses the user’s lifestyle and provides a set of recommendations. By answering an online questionnaire, the platform identifies healthy behaviours – movement, sleep, emotional health, nutrition, and overall lifestyle balance – to determine the most relevant policies for its customers.
New life Insurance products from Lincoln Financial Group provide greater flexibility to protect loved ones and retirement. PR Newswire, November 17, 2020.
Lincoln is launching a new version of its Lincoln WealthAccumulate IUL policy. It is also launching a new version of its Lincoln WealthPreserve IUL offering. The relaunched products include several new indexed account options.
Introducing Merkur GreenLife. Coverager, October 2, 2020.
Merkur GreenLife offers a unit-linked life insurance policy, with an investment in sustainable and responsible investments. Merkur GreenLife only invests in funds that have been awarded the Austrian Ecolabel.
Chubb Life Vietnam launches Premier Choice Universal Life. Vietnam Economic News, October 13, 2020.
The Premier Choice Universal Life offers three benefit packages: Plan 99 – Golden Years Reassurance, Plan 80 – Senior Serenity, and Plan 65 – Retirement in Comfort. These plans offer flexibility in premiums. The plans also offer supplementary benefits for accidental injuries, critical illness, and hospitalization.