Page 49 - Insurance Times November 2023

NEW PRODUCTS

New Product Launches

Canara HSBC Life Insurance introduces – customer while opting for the policy stands assured of the
guaranteed returns basis their purchase and desired
GAIN (Guaranteed Assured Income) requirements. The life insurance plan is thoroughly designed
Canara HSBC Life Insurance introduced a non-linked and non to provide families with unmatched financial stability and
participating product Guaranteed Assured Income (GAIN) security in a longer run. GAIN offers guaranteed regular
– a life insurance and savings plan designed to give financial income stream with the flexibility to get the premiums back
stability and security to the users with the flexibility to at the end of policy term.”
change their coverage period based on the financial
requirements and aspirations.
HDFC ERGO launches 6 new products
Guaranteed Assured Income is a guaranteed recurring and 2 service upgrades
income stream that ensures policyholders’ financial stability. HDFC ERGO General Insurance Company, has launched suite
Customers who choose GAIN have the option of selecting of health insurance products and services. The company has
an income term ranging from 5 to 39 years, which launched key upgrades to its existing Optima Secure product,
corresponds to different life stages and income which also happens to be one of the most preferred products
requirements. The plan also caters to the consumers’ diverse for the health insurance customers in India.
budgets by offering flexible premium payment
arrangements. The Company has also introduced new service upgrades,
which will address the key issues faced by the customers
The adaptable Option provides three various plans to satisfy during their cashless hospitalisation, and thereby provide a
the needs of customers. Short-term and long-term income greater convenience for the customers.
options offer both recurring income and a lump amount at
maturity. The Early Income Option provides immediate income The New Products at a Glance:
with a total benefit equivalent to 100% of premiums paid. 1. Optima Secure: Enhancements
Y Global plans : One can now get treatment
The plan includes life insurance for the financial security of anywhere on the globe.
the family, an alternative savings source for one’s goals, and
Y An industry first initiative, providing an option to
a guaranteed income stream with premium return flexibility.
cover travel expenses of a person supporting the
GAIN combines life insurance and wealth building in a
insured at the time of need
smooth manner, ensuring a family’s financial well-being and
a secure investment with advantages. Y New deductible options : Higher deductibles up to
5 lakhs, to further lower the premium as a part of
Commenting on the launch of the product, Akshay Dhand, the base policy. This feature also comes with an
Appointed Actuary, Canara HSBC Life Insurance says, option to reinstate the full cover after 5 years of
“Canara HSBC Life Insurance is proud to launch “Guaranteed policy period or 50 years of age, whichever happens
Assured Income – GAIN”, the name itself affirms that a later.

44 November 2023 The Insurance Times