Guardian Life launches new product Guardian Shield. TBS Report, February 28, 2021.
Guardian Shield is a life insurance plan that offers yearly and single premium payment options. The plan also life coverage of Tk1 lakh for as low as Tk203 per year, with maximum coverage of Tk1 crore.
AB Nishchinto, a new banking product from AB Bank. The Independent, January 11, 2021.
AB Nischinto is a product that gives free life insurance of up to Tk80 lakh from MetLife without paying any premium. This will be available to AB Nishchinto Fixed Deposit Account holders of the bank.
Zurich launches individual life insurance with flexible coverage. Apólice, February 18, 202. (Text in Portuguese)
Zurich has just launched Zurich Life for You, an individual life insurance with customizable protections. The customer also has the choice of 15 assists, three of which can be added at no additional cost. The sum assured can be up to R$5 million.
Equitable Bank launches new Sun Life collaboration for life insurance lending. Canada NewsWire, February 25, 2021.
Sun Life policyholders will be able to access funds through an Equitable Bank Cash Surrender Value (CSV) Line of Credit. The Equitable Bank CSV MAX Line of Credit also offers access to tax-free cash while the policy continues to grow.
RBC Insurance adds new participating life offering to help meet clients’ future financial needs. Press release, January 26, 2021.
RBC Growth Insurance is a new participating whole life insurance product. Customers under the age of 55 can apply using the ten-question e-application. The Juvenile Guaranteed Insurability Benefit is included on all standard risk policies issued for children under the age of 18. Other benefits include a death benefit and an increasing death benefit where dividends paid can be reinvested into the insured’s policy.
RAWSUR Life SA Congo launches KIMIA life insurance for all. Fintalk, January 27, 2021. (Text in French)
The KIMIA Life Insurance plan is available from $10 a year. The plan has three coverage options: Individual cover, Family cover, and Company cover, which protects members of a company or an association.
Misr Life Insurance’s Maash Bokra product available in over 150 National Bank of Egypt (NBE) branches. Daily News Egypt, March 15, 2021.
The Ma’ash Bokra (“Tomorrow’s Pension”) product is now available in more than 150 branches of the NBE nationwide.
The product has a sum assured starting from a minimum of EGP500 to a maximum of EGP60,000 for the policy. It gives clients complete freedom to choose the duration of their insurance program.
Allianz introduces Eduflex Plan, an educational insurance policy. BftOnline, January 15, 2021.
The Eduflex plan has an issue age of one to 25 years. The monthly premium ranges from a minimum of GH¢50 to a maximum of GH¢5,000. The maximum number of children allowed is four. Customers are eligible to make partial withdrawals once in a calendar year, after two years of policy inception. The maximum withdrawal amount is 50% of the accumulated fund value.
AXA launches Wealth Ultra Savings Plan (2-year Pay). PR Newswire, February 8, 2021.
Wealth Ultra Savings Plan (2-year Pay) is a participating life insurance plan with a short premium payment term of two years. Customers transfer the reversionary bonus and terminal bonus to the bonus lock-in account, without partially surrendering their policies. The plan allows the holder to change the insured an unlimited number of times without affecting the policy value.
LIC launches new BachatPlus policy. HansIndia, March 16, 2021.
Bachat Plus, a non-linked participating individual savings plan, offers combination of protection and savings. It can be purchased through LIC agents or on the company’s website. The minimum basic sum assured is one lakh, with no upper limit.
Aegon Life Insurance launches Aegon Life Saral Jeevan Bima. Product brochure, March 1, 2021.
Aegon Life Insurance launched Aegon Life Saral Jeevan Bima (a standardized simple term insurance plan) that allows customers the flexibility to adapt the policy basis according to their needs. The plan has an issue age of 18 to 65 years, a sum assured of Rs 5 lakhs to Rs 25 lakhs, and covers a period between five years and 40 years.
Aditya Birla Health (ABHICL) introduces India’s first health insurance plan with up to 100% on premium. Business Standard, February 24, 2021.
Activ Health is a health insurance plan that offers up to 100% return of premiums if customers commit to leading a healthy lifestyle. The customer is rewarded through a cash equivalent, which can be used for buying medicines and paying for diagnostic tests, outpatient treatments, and alternative treatments. The plan also offers mental health counselling.
Bharti AXA Life Insurance launches Flexi Term Pro. Applytoloans.com, February 23, 2021.
Bharti AXA Life Flexi Term Pro is a non-linked, individual, non-participating term life insurance plan that offers the option to cover the life up to 99 years. This plan provides a premium discount to customers who quit smoking and try to stay fit. It is available in two options, without return of premium and with premium return.
Navi General Insurance launches '2-Minutes online health insurance' via Navi Health App. PR Newswire, February 17, 2021.
The 2-Minutes online retail health insurance product is available via the Navi Health Insurance app. It is a completely paperless process that takes two minutes. The product offers customizable health insurance cover ranging from INR2 lakh to INR1 crore for individuals and families.
Ageas Federal Life Insurance launches its Life Advantage Plus Plan . Equity Bulls, February 15, 2021.
Ageas Federal Life Insurance Life Advantage Plus Plan is a comprehensive life insurance plan that offers a choice of policy term and premium term. The plan rewards the policyholder by paying back up to 25% of the annualized premium in the form of guaranteed Maturity Boosters.
Aditya Birla Sun Life Insurance presents DigiShield - first-of-its-kind fully customizable term plan. Yahoo Finance, February 11, 2021.
Digishield is a term life insurance plan that has a survival benefit option which allows the customer, at reaching the age of 60 years, to receive monthly income. It offers life coverage up until the age of 100 years and allows the customer to reduce the sum assured by 50% or 25% at a predetermined retirement age.
ICICI Prudential Life Insurance launches new goal-based savings product. Press release, February 9, 2021.
ICICI Prudential Life Insurance company has launched a new goal-based savings product, ICICI Pru Guaranteed Income for Tomorrow (GIFT). The product comes in three variants: Guaranteed Income, Guaranteed Early Income, and Guaranteed Lump Sum Benefit. The product includes a ‘save the date’ feature through which customers can choose to receive income on special dates such as their wedding anniversary.
IndiaFirst Life launches Mahajeevan Plus Plan. Product brochure, February 2021.
IndiaFirst MahaJeevan Plan is a participating, non-linked endowment plan. The plan has an issue age of 5 to 55 years.
The policy terms are 15 and 25 years. The minimum sum assured is Rs50,000 and the maximum sum assured is Rs20,00,00,000.
PhonePe launches Term Life Insurance plans for users. Mint, January 7, 2021.
The new term insurance policy has a premium that starts from as low as Rs149 per annum. The policy insures users for a sum ranging from Rs1 lakh to Rs20 lakh.
Hanasaku Life launches income protection insurance Hanasaku Shunyu Hosho. Press release, March 1, 2021. (Text in Japanese)
The income protection plan Hanasaku Shunyu Hosho has an issue age of 20 to 70 years. The plan has two variants, a base plan and a disability long-term care plan. The premium rate has four classes: Non-smoker preferred, Smoker preferred, Non-smoker standard, and Smoker standard. The plan can include a critical illness and waiver of premium rider.
Sumitomo Life launches currency select level premium whole life insurance Plus Tsumitate Shushin. Press release, March 15, 2021. (Text in Japanese)
Plus Tsumitate Shushin is a whole life insurance plan and has an issue age of 15 to 80 years. It is available in U.S. dollars or in Japanese yen. The plan has a maximum sum assured of 30 million yen and is available via the bancassurance channel.
Meiji Yasuda launches cover selection type term life insurance (simplified issue type) for COLI. Press release, February 2, 2021.
(Text in Japanese)
The plan has an issue age of 20 to 70 years of age. The form to apply has only five questions. There are two variants, ADL type and Cancer type. The sum assured is 5-500 million yen and 1-200 million yen, respectively. The plan includes a death benefit.
UAP Old Mutual unveils digital cover for as low as Sh50. The Star, January 13, 2021.
The funeral expenses digital cover plan costs as little as Sh50 a month. Customers can sign up in five minutes using their mobile phone or other device. Children are covered up to the age of 18 or up to age 24 if they are still under their parents’ care and in school. It caters for the principal member and five members of a nuclear family.
Allianz Life and Pos Malaysia introduce Pos LifeCare insurance plan. Press release, February 2021.
Pos LifeCare is a non-participating, group term life insurance product. The plan provides death and total and permanent disability (TPD) benefits, with additional benefits for accidental death or TPD, as well as death due to dengue and COVID-19 infection. The annual premium for Pos LifeCare varies according to age groups. For Malaysians aged 18 to 50 years old, the annual premium for Plan 1 is RM50; Plan 2 is RM65; and Plan 3 is RM85.
TPL Insurance partners with Sastaticket, a one-stop shop for travel-related services. The News, January 21, 2021.
Customers will have access to TPL’s Travel Insurance products while they compare airline and hotel prices on Sastaticket.pk. Sastaticket customers will get coverage of up to Rs 100,000, including protection against accidental death, permanent total disability, and medical evacuation. Saskaticket will be available on the TPL Insurance app.
InLife Launches Basic Assure 10: life insurance with guaranteed cash payouts. Press release, January 7, 2021.
Basic Assure 10 is a renewable term life insurance plan. It is payable for 10 years but provides insurance protection for 20 years. The plan also offers cash pay-outs equivalent to 7.25% of the sum insured starting at the end of the fifth year.
Manulife China Bank Life Assurance Corp. (MCBL) offers 100-year insurance coverage. The Philippine Star, February 26, 2021.
Legacy Secure is a life insurance plan that provides coverage until 100 years of age. It is payable in five years and 10 years. It is available in two variants, Legacy Secure Plus and Legacy Secure Prime. Legacy Secure Plus customers, at the end of the tenth year, will receive a guaranteed cash pay-out equal to 10% of the face amount given. Legacy Secure Prime customers will get a guaranteed long-life bonus equal to 50% of the face amount, rewarding them for being healthy at 75 years of age.
Signal Iduna Insurance Reinsurance launches 101 Invest, life insurance with an investment component. Nineo’clock.ro, February 19, 2021.
The new 101 Invest is a unit-linked insurance product that combines the characteristics of a life insurance policy with those of an investment component. Customers can choose any of the four selected investment funds from the portfolio: HANSAcentro, HANSAdynamic, SI Best Select, or HANSA smart Select E. The issue age is between one and 65 years. The minimum period of the policy is 10 years.
Singtel and Etiqa launch new insurance savings plan to boost interest on savings and offer more protection. Press release, February 8, 2021.
Dash PET (Protect, Earn, Transact) is a digital insurance savings plan. Customers can start saving with Dash PET from a low starting premium of just S$50 and earn interest of up to 1.7% on their first $10,000 balance. Customers have the ability to manage and transfer funds between their insurance savings plan and their mobile wallets. The plan also offers death coverage of 105% of the account value and a Financial Assistance Benefit for COVID-19.
Orange's new life insurance for individuals: 100% digital and discounted for customers. Xataka Móvil, February 21, 2021. (Text in Spanish)
Orange Seguros has launched life insurance for residential customers. These are 100% digital proposals that aim to offer an immediate (in 10 minutes, securely) decision and a simple process (via mobile phone or computer). The life insurance is in two variants: family life insurance, and life insurance for mortgages and loans. Orange Life Insurance provides free access to Meeting Doctors, a medical consultation service.
SANASA General Insurance unveils “Prathishakthi” to support individuals struggling with income loss due to pandemic situations. Adaderanabiz.lk, March 29, 2021.
Prathishakthi is a unique insurance solution that is tailor-made for any individual whose income is at risk as a result of the ongoing COVID-19 pandemic or any other epidemic that may take place in the future. The policy provides convenient, multiple options for the annual premium, and the plan offers a maximum coverage period of 365 days (one year) from the commencement date.
Quotemehappy.com expands to life insurance. Coverager, January 18, 2021.
Quotemehappy.com is the digital insurer of Aviva. The life insurance policy pays a lump sum if a customer is diagnosed with a terminal illness or passes away. Customers can choose between a level cover or decreasing cover.
MetLife launches simplified income protection policy. Financial Reporter, January 15, 2021.
MortgageSafe is a new simplified income protection policy. The policy covers monthly mortgage repayments, up to a maximum of £1,500 per month, for up to 12 or 24 months. MortgageSafe uses a simplified underwriting process comprised of five simple health questions.
Haven Life partners with Happiest Baby. IIR, March 11, 2021.
Haven Life and Happiest Baby have announced a partnership. Parents who are visiting Happiestbaby.com can apply online for a Haven Life term life insurance plan. The plan has a digital application process and offers an instant decision on eligibility. If a medical exam is required, the customer may arrange it later at a convenient location.
Lincoln Financial adds personalized retirement service with advisor managed accounts. Business wire, January 11, 2021.
The Advisor Managed Accounts service has been added to retirement plans. Registered Investment Adviser (RIAs) can now create plan-specific investment portfolios. This enables RIAs to use information about each plan participant – such as age and plan balance – to create the portfolios used by the program.
Haven Life partners with Waffle, providing more individuals with convenient, no-medical-exam life insurance. PR Newswire, February 11, 2021.
Haven Life and Waffle announced a new partnership. Haven Simple is a term life product that will be available on Waffle. The application is online. Haven Simple offers up to $500,000 in coverage for terms of five, 10 or 15 years.
Lemonade chooses Bestow as its platform for life insurance. PR Newswire, February 10, 2021.
Bestow announced a partnership with Lemonade that recently launched life insurance. Lemonade customers can apply for instant, affordable life insurance in as little as five minutes online. Using Bestow’s Protect API and Lemonade’s AI chatbot, customers can be approved in real time.
Next by Pacific Life expands to life insurance. Coverager, February 4, 2021.
Next is now offering a term life product. The application can be submitted online but is followed by a phone call.
Nationwide partners with Annexus to introduce Lifetime Income Builder. Coverager, February 4, 2021.
Lifetime Income Builder is a new in-plan solution that helps address the participant’s risk of outliving income. The solution is a fixed indexed annuity with a guaranteed lifetime withdrawal benefit.
Introducing Lemonade Life. Coverager, January 10, 2021.
Term life insurance policies start at $9 per month. The term options are 10 and 20 years with up to $1,000,000 in coverage. The issue age is between 21 and 55 years of age.
Getting started with Dayforward. Coverager, January 6, 2021.
Dayforward is offering an income protection product. It provides a beneficiary with twice-a-month paycheck (in the event of a death) until a child turns 21 years old. It also offers $10,000 for funeral expenses. The plan offers coverage on a monthly basis, and Dayforward collects a $5 monthly subscription fee.
Protection Universal Life strengthens Penn Mutual product portfolio. PR Newswire, January 5, 2021.
Protection Universal Life (PUL) is a permanent life insurance policy. The policy provides a death benefit that is income tax-free and probate-free. The policyholder may access the cash value in the event of an emergency.
FWD and Vietcombank tie up for exclusive investment-linked insurance product. Vietnam News Summary, March 19, 2021.
FWD Nang Tam Vi The (FWD Elevating Success) is an investment-linked insurance product. It has many outstanding benefits to customers both in the form of life insurance cover and investment.