ING Life Insurance launches three new products
ING Life Insurance announces the launch of three new products in the traditional insurance space – ING Secured Income Insurance Plans, ING Star Life and ING Critical Illness Riders.

The ING Secured Income Insurance Plans are a new class of endowment plans which offers security in the form of long term benefits, while assuring a regular income if anything unfortunate were to happen. It comes with two variants – Secured Income Insurance Regular Pay and Secured Income Insurance Plus. The Secured Income Insurance Plan includes the following benefits: Double death benefit, guaranteed addition of 10% of sum assured in maturity value, flexibility to choose from limited and regular premium paying terms.

ING Star Life is a unique Life Insurance Plan provides guaranteed tax free returns while providing life cover. It has a short premium paying term of 3 years but provides the benefits for full 12 years of the policy term. Key benefits are Guaranteed Death Benefit, Guaranteed Addition Rate, Guaranteed Survival Benefit, Guaranteed Maturity benefit along with tax savings.

ING Critical Illness Riders are add on protection benefits that pay a lump sum amount in case the life assured is diagnosed with any of the listed critical illness. There are two variants – Regular Premium Payment term or Limited Premium payment term.

Bharti AXA Life launches online term plan iProject
Mr Sandeep Ghosh announced Bharti AXA Life’s growth strategy for the online platform – the Bharti AXA Life iProtect Plan. He added that this is one of the most competitive term plans in the market today. The functionality built as a part of the user interface will help the customer purchase the policy in a few simple steps. There is a dedicated customer service team ‘tele-assist’ to assist the customers in the buying process. Its unique and industry first service guarantee – “Family care benefit” ensures a release Rs 100,000 within 48 hours of claim intimation. The company wants to provide the online customers a unique product and service proposition backed by best in class and convenient buying experience.

Aviva India launches brand new campaign
Aviva India announced the launch of their new brand campaign which aims at child education insurance by taking a holistic view of protecting the child against all odds in life from a father’s eyes. The campaign aims to highlight a fathers most important role – that is of a protector along with all the other roles that he plays. Aviva’s brand ambassador, Sachin Tendulkar is shown as introducing the father of a childs new born into his future roles. However he is told that the most important role that he must play as a father is that of a protector, by ensuring that his child is well protected against the inconsistencies of life whether or not he is around. Through this campaign Aviva intends to celebrate fatherhood by educating fathers about their most important role and encouraging them to protect their child’s future through appropriate insurance.

ICICI Pru Mobile Website launched
In its endeavor to implement technology centric initiatives to ensure increased convenience and provide the highest quality of service to its customers, ICICI Prudential Life Insurance Company has launched a mobile website which provides innovative service options to its customers through their mobile phones. This mobile website can be accessed by any individual by simply typing in www.iciciprulife.com on the mobile browser. With the launch of the mobile website the company has successfully enabled customers, prospects and its distribution network to avail various service facilities via their mobile phones. . The ICICI Pru Mobile Website will enable customers to access information regarding their policies as well as enable premium payment through the mobile phones.

Max New York Life Insurance launches “Premium Return Term Plan”
This is a limited premium payment term plan which provides financial security for the family and a 100% refund of all premiums on policy holder’s survival. It also has an inbuilt accidental death benefit rider. This product has been designed keeping in mind the underinsured market in India and the increase in the incidence of accidental deaths. The product is targeted towards the mass affluent category and is a transparent and simple plan which guarantees satisfaction and security to every policy holder.

Future Generali Insurance announces Bancassurance Partnership with Karnataka State Co-operative Apex Bank
Future Generali is a JV between the dynamic Future Group of India and the over 180 year old Insurance giant, Generali Group of Italy. This partnership is a significant step forward to both partners as it will expand the reach of Future Generali’s Total Insurance solutions to the bank’s customers in Karnataka. Bancassurance has proven to be an attractive model for insurers and Banks alike, extending the benefits of insurance protection to Banking customers.

AEGON Religare Life Insurance launches Guaranteed Income Insurance Plan
AEGON Religare Life Insurance has announced the launch of its AEGON Religare Guaranteed Income Insurance Plan. This plan offers long-term life cover along with regular guaranteed income. After the end of the policy’s premium payment term, this plan offers the policyholder 7.5% of the sum assured, every year, until the age of 85. The two unique features of this plan is that guaranteed payouts are offered till the policy holder is 85 years of age. Secondly, the plan comes with two bonuses. One, at the end of the premium payment term and one at maturity or death whichever is earlier. The AEGON Religare Guaranteed Income Plan offers the following benefits:

After the end of the premium payment term, it offers a bonus and guaranteed payouts of 7.5% of the sum assured, every year, till the policy holder is of 85 years. On maturity, it offers, accrued bonus along with terminal bonus, if any. It offers a life cover till 85 years of age. Incase of death: During the premium payment term, it offers either the sum assured along with the accrued bonus or the total premium paid, whichever is higher. After the premium payment term, it offers the sum assured along with the bonus from the end of premium payment term and the terminal bonus, if any. Within the first three policy years, it offers the sum assured along with the accrued bonus. It offers bonus which forms a part of the guaranteed benefits and it is paid in case of maturity or death. The policy does not lapse if the premium is paid for a period of three years as it continues with the paid-up sum assured. It offers an optional additional cover through ADDD Rider (Accident Death, Disability, Dismemberment) It offers tax benefits. AEGON Religare Guaranteed Income Insurance Plan offers a fixed policy term of 85 years less the age at entry with a minimum term of 30 years. One can choose the premium payment term from 10, 15 or 20 years. The minimum entry age is 20 years and the maximum age of entry is 50 years or 55 years, depending on the tenure of the policy. The maximum age at maturity is 85 years and minimum sum assured
is 1, 00,000.

Edelweiss Tokio Life Insurance launches Life Protection and Income Replacement
Recent entrant in the life insurance Edelweiss Tokio Life today launched two cost effective term plans, Life-Protection and Income Replacement. The Edelweiss Tokio Life-Protection is a pure term plan that provides lump sum payment to the nominee in case of the unfortunate event of the death of the life assured. The Income Replacement ensures that on death of the life assured the family still continues to receive regular monthly income till the end of the policy term. The protection scheme offers protection for a maximum period of 30 years, and depending on the age cover it may be extended up to 70 years. The company is also promoting a healthy lifestyle and has lower rates for non-tobacco users. The income replacement scheme offers inflation mitigating benefit by way of fixed 5 per cent increase in monthly income each year. It also rewards the non-consumption of tobacco. The minimum sum assured for the protection plan is Rs 15 lakh, while the minimum monthly benefit for the income replacement plan is 15,000. Both the products allow an entry age starting from 18 years up to 60 years with the maturity from 28 to 70 years.

Birla Sun Life to tie up with Syndicate Bank for bancassurance
Birla Sun Life Insurance is close to striking a deal with the state-owned lender, Syndicate Bank, for a partnership in the life insurance business. The deal structure will enable the Syndicate bank to pick up a minority stake in the lucrative life insurance sector without dipping into its capital reserves. The deal will give Birla Sun Life access to 2,500 branches of the commercial bank. Besides, 600 regional rural banks where Syndicate has a stake can be used to market Birla Sun Life products.

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