Page 48 - The Insurance Times November 2025

New Product Launches

Generali Central Life launches ULIP-Term vidual savings life insurance plan, offering both savings and
protection features. The proposer (typically a parent or
hybrid plan to drive financial growth
grandparent) pays the premiums, while the life cover is on
Generali Central Life has launched a new insurance product the child (the life assured). The entry age for the life assured
that blends the benefits of a Unit-Linked Insurance Plan
is a minimum of 30 days and a maximum of 13 years, and
(ULIP) with term life insurance, aiming to support long-term
the minimum age at maturity is 18 years.
financial growth alongside robust protection. This innova-
tive plan, tailored to appeal to India’s emerging middle-class Key features of LIC Amrit Bal policy:
and wealth-conscious consumers, offers a dual advantage: Guaranteed maturity benefits: A lump sum is paid out
wealth creation through market-linked returns and life cov- at maturity, which can help cover significant life ex-
erage for financial security. penses like higher education, marriage, or business
startup.
The policy allows customers to invest premiums in a variety
of funds ranging from equity to debt, depending on their Flexible premium payment terms: Premium can be
risk appetite. At the same time, it ensures that the insured's paid for limited terms (such as 5, 7, or 10 years), de-
family receives a death benefit in case of an untimely de- pending on the chosen policy term.
mise. Policyholders can switch between funds, opt for par- Risk cover after deferment period: The life cover be-
tial withdrawals, and track portfolio performance through gins after a deferment period (2 years or when the child
digital channels, providing greater transparency and control. turns 8, whichever is later).

A key highlight is the plan’s flexibility—customers can choose Death benefit: In case of the unfortunate demise of the
premium payment terms, policy duration, and fund options, child after commencement of risk, the sum assured on
making it suitable for goals like children's education, retire- death is paid along with accrued guaranteed additions.
ment planning, or wealth accumulation.
Guaranteed Additions: The policy offers guaranteed
Generali Central Life has positioned this hybrid plan as part additions at Rs. 80 per Rs. 1000 sum assured for the
of its broader strategy to offer need-based, tech-enabled first 5 years and Rs. 85 per Rs. 1000 from the 6th year
insurance products to India’s evolving demographic. The onward till policy maturity.
launch aligns with the company’s focus on financial empow-
Loan facility: Policyholders can avail of loans after two
erment and long-term savings, especially in a post-pandemic
economy where both protection and growth are in demand. years of full premium payment.
Tax benefits: Premiums paid may be eligible for tax de-

LIC launches 'Amrit Bal' policy to secure duction under Section 80C, and maturity/death pro-
ceeds under Section 10(10D) of the Income Tax Act.
children's future with guaranteed ben-
The Amrit Bal plan aims to ensure that parents can system-
efits atically build a corpus for their children's future, while also

Life Insurance Corporation of India (LIC) has launched a new offering a safety net in case of emergencies. This new policy
plan named Amrit Bal, designed specifically to build a strong aligns with LIC’s vision of combining traditional savings with
financial foundation for children. The policy caters to par- long-term protection, and caters especially to Indian fami-
ents and guardians who wish to invest in their child's future lies looking to secure their child’s dreams with disciplined
educational and life needs while also ensuring financial pro- financial planning.
tection in case of unforeseen events. The plan is now available for purchase across LIC branches
The Amrit Bal policy is a non-linked, non-participating, indi- and authorised agents nationwide.

The Insurance Times November 2025 43