Page 50 - Insurance Times July 2023

NEW PRODUCTS

New Product Launches

Future Generali India launches health "DIY HEALTH enables customers to not only choose the most
relevant features as per their life needs but also enables
insurance policy with multiple optional
them to further tweak or modify the policies annually," said
covers Anup Rau, Managing Director and CEO of Future General
India Insurance.
Future Generali India Insurance company has
announced the launch of its health insurance product
- DIY Health - which comes with multiple rider benefits LIC launches new Life Insurance Plan
with Guaranteed Death Benefit and
Rider benefits are optional covers that policyholders can buy
by paying additional premiums. According to the company, Savings Component
besides the base features, the DIY health insurance product LIC's Dhan Vriddhi is a new non-linked, non-participating,
comes with 20 optional offerings or rider benefits. individual, savings, life insurance plan that was launched on
June 23, 2023. The plan is only available in the domestic
Policyholders can also choose from optional covers such as
market.
maternity, ambulance (air/road) cover, critical illness
1) It offers a guaranteed death benefit.
booster, daily hospital cash, cover for non-medical and
2) It offers a savings component that allows policyholders
consumables-linked expenses, home healthcare insurance,
to accumulate a lump sum amount at maturity.
voluntary co-pay, critical illness booster, accident booster,
higher pre- and post-hospitalisation expenses, flexibility to 3) It offers a premium waiver benefit that can be used to
increase or reduce waiting periods for pre-existing illnesses waive premiums in the event of the policyholder's
and so on. death.

This is in addition to the regular features that several other The plan is suitable for individuals who are looking for a
products in the industry offer such as cumulative bonus simple and affordable life insurance plan with a death
booster, wellness benefits, OPD coverage if the minimum benefit. In the terrible event that the life assured passes
sum insured is Rs 5 lakh and no capping on hospital room away during the period of the policy, this plan offers
rent. monetary help to the family. It also provides a guaranteed
lump sum amount on the date of maturity to the assured.
The product allows the policyholder to cover up to 15
members of her family under the family floater cover. In this plan the premium is paid in lumpsum at the begining
Besides grandparents, daughters-in-law, sons-in-law and live- of the policy and the returns are given to the policyholder
in partners can be covered under the policy. at the end of the policy term or to the nominee in case of

44 July 2023 The Insurance Times