Page 52 - Insurance Times August New 2023

NEW PRODUCTS

New Product Launches

IndiaFirst Life Insurance launches protection plan that offers term insurance cover to Type 2
diabetics and pre- diabetics by factoring in the nuances of
'Guarantee of Life Dreams' plan
their health conditions. The product empowers diabetics to
IndiaFirst Life Insurance Company Limited (IndiaFirst Life), ensure their families have the necessary financial resources
unveiled a new product -- IndiaFirst Life Guarantee of Life to continue with their lives, in the absence of the
Dreams (G.O.L.D.) plan. The non-linked, non-participating, breadwinner.
individual life insurance plan is designed to provide
Key Advantages
policyholders with a regular long-term income option,
o Term Plan exclusively designed for Type 2 diabetics (with
IndiaFirst Life said.
HbA1c level <= 8%) and pre-diabetics.
IndiaFirst Life Guarantee of Life Dreams Plan is an extended- o Provides comprehensive financial security to your family.
term insurance-based savings product, which offers flexible
o With the 'Keep Fit' benefit, on improving your health,
Premium Paying Terms (PPT) of 6 years, 8 years, and 10
you get the flexibility of premium reduction on policy
years for a policy term of 30 years and 40 years. With
anniversary.
premium starting from Rs 4,176 per month and with
o Health Management Services will also be provided
monthly, quarterly, half-yearly and yearly premium paying
through webinars, medical consultations, etc to support
options, the plan is a convenient option for customers to
our customers to manage their diabetes and general
create a second/additional income, it said.
health
Commenting on the launch, Rushabh Gandhi, Deputy CEO,
o Flexibility to choose from multiple premiums payment
IndiaFirst Life Insurance Company Limited, said, "Going
frequencies.
beyond traditional insurance, G.O.L.D. will empower our
o Tax benefits available on what you pay & what your
customers to plan a long-term income as per their need.
family receives, as per extant Income Tax Act.
Unlike most other plans where returns are received after a
few years, the highlight of this product is that one can plan
Note:
to receive future income from the end of first month itself."
HbA1c: Glycated haemoglobin: A haemoglobin A1C (HbA1C)
test is a blood test that shows what your average blood
Bajaj Allianz Life Diabetic Term Plan Sub sugar (glucose) level was over the past two to three months.
8 HbA1c As per the Indian Council for Medical Research - Pre-diabetics
have HbA1c level in the range of 5.7% to 6.4%; Diabetics
Term insurance plan is a must-have for everybody, it provides
have HbA1c level of 6.5% or above.
protection to the family against the loss of income due to
the demise of the earning member. However, we do have a
Key Benefits in detail
large segment of the population who have been diagnosed
1. Death Benefit (Benefit payable on death of the Life
with diabetes and find it very difficult to get a life cover due
Assured during the Policy Term)
to their health condition. Due to this, most of the diabetics
feel vulnerable with no protection cover to fulfil their On death of the life assured during the Policy Term,
responsibility of financially protecting their families in case provided the policy is in-force, your nominee/legal heir
they were not around. will receive the Sum Assured on Death (as chosen by
you at inception). The policy will terminate on death of
Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c is a the life assured.

The Insurance Times August 2023 45