Product Trends

LIFE

NEOS and MLC Life Insurance Partner to Launch New Life Insurance Product. Press Release, March 10, 2022.

The plan Encompass Protect is offered and sold through financial advisers on the NEOS insurance platform and combines service and administration features of NEOS with the financial strength and claims management of MLC Life.

Al Salam Bank Launches Life Planning Account Drive. TradeArabia, February 8, 2022.

The Al Salam Life Planning account provides customers with the optimal choice to save, invest, and distribute their funds after retirement. Clients will receive free life insurance as well as the option of opening their account without having to pay any administrative fees.

MetLife and Ame Partner to Commercialize Life Insurance. Apolice, March 30, 2022.

The life insurance product covers include death, disability by accident, funeral assistance, daily hospitalization, and funeral assistance for beneficiaries. It has an issue age of 18 to 60 years. The coverage amount can reach R$ 200,000 in case of death or disability. (Text in Portuguese)

Helping Clients Prospr: Sun Life Launches First-of-Its-Kind Hybrid Advice Platform. Press release, March 9, 2022.

Prospr by Sun Life is the first-of-its-kind hybrid advice solution. The solution allows Canadians to select, prioritize, and track their goals all in one place while giving them the option to speak to a licenced advisor through phone or video call. Clients can prepare personalized, living plans using the initial needs assessment and planning tools available.

Nowly Launches in Canada. Coverager, February 25, 2022.

Nowly offers instant online term life insurance with no medical exam and up to one million in coverage. Policyholders will also have access to the health and wellness program by Virgin Pulse.

Empire Life Introduces Changes to Make It Simple, Fast, and Easy for Canadians to Buy Life Insurance for Children. Press Release, February 10, 2022.

Empire Life introduced a simpler application process with fewer medical questions and a higher probability for automatic approvals. Most policies for children will now be approved instantly through its electronic Fast & Full Life Application process.

Goose Launches Canada’s First Term Life Insurance Policies that Can be Purchased Via a Mobile App. Press Release, January 25, 2022.

Customers can now purchase up to $1 million in term life insurance for up to a 25-year term, instantly, with no medical exams through the Goose app.

Ghana's MTN MoMo and Allianz Launch New Life Insurance Product. News Ghana, January 26, 2022.

Allianz4Life is a new product that provides customers with cover for hospitalization, disability, and death. The premiums are as low as GHS 3.00.

AIA Goes Beyond Traditional Insurance and Launches “Wealth Enrich”; Helps Customers with Long Term Wealth Accumulation. Press Release, January 17, 2022.

AIA “Wealth Enrich” is a life insurance plan that offers optimal projected returns in the short to medium term. The plan offers a choice of options, including “Terminal Dividend Lock-in Option”, “Change of Insured Option”, and “Contingent Insured Option”.

AXA Launches "Fortunextra Savings Plan" 9 Policy Currency Options with Most Flexibility in Currency Conversion and Market-First Dual Currency Accounts. Yahoo Finance, January 10, 2022.

FortuneXtra helps customers seize currency potentials and accelerate wealth building. The plan offers a choice of up to nine policy currency options. The plan offers flexibility and unlimited full or partial policy currency conversions for free after the third policy anniversary.

Emma by AXA Users Can Enjoy 90-Day Free Sports Care Protection. Press Release, January 06, 2022.

The free AXA Sportcare programme is being offered to all Hong Kong residents aged 18 to 80. Customers can enjoy 90-day complimentary protection for accidents arising from playing any sports in a non-professional capacity. This programme includes home workouts. Residents just need to download Emma by AXA app and completing a simple registration.

Kotak Life Launches Kotak Fortune Maximiser. Product brochure, February 2022.

Kotak Fortune Maximiser is a non-linked, participating, savings life insurance plan. The plan has three options: Life Goal Maximiser, Bright Future Maximiser, and Golden Years Maximiser. The plan provides coverage up to 85 years of age.

PNB Metlife Launches Systematic Savings Solution Guaranteed Goal Plan. Mint, February 17, 2022.

PNB MetLife Guaranteed Goal Plan is a savings-oriented life insurance plan offering guaranteed returns. This new offering also comes with built-in life insurance cover till maturity, waiver of premium on death or diagnosis of critical illness.

Canara HSBC OBC Life Insurance Launches Flexi Edge. Free Press Journal, February 15, 2022.

Flexi Edge is a non-linked participating individual savings plan. Flexi Edge addresses the growing needs of customers starting from savings to income and unplanned or recurring expenses. The plan also provides life cover to the policy holder in the unfortunate event of death.

ICICI Prudential Life Insurance Launches New Term Insurance Plan: ICICI Pru Iprotect Return of Premium Insurance. Press release, December 28, 2021.

The ICICI Pru iProtect Return of Premium term product offers return of 105% of all premiums paid on survival. It also provides coverage against 64 critical illnesses, one of the highest in the industry. It offers two variants – Life Stage Cover and Level Cover.

Manulife Malaysia Launches Two Insurance Products Focusing on Flexibility and Affordability. Press Release, February 18, 2022.

Manulife Universal Saver is a long-term savings plan. The plan provides an opportunity to build and optimise wealth. The plan also offers protection against death, accidental death, total and permanent disability.

Valentine: Firm Unveils Contest, Savings Plan for Couples. The Guardian, February 12, 2022.

The Heirs Couples Savings Plan is open to married and unmarried individuals. If there is a split, the saved funds and interest will be divided according to pre-agreed terms. The plan encourages couples to save together.

TPL Life Insurance (Window Takaful Operations) (TPLL) Launches “Fortune Shield”. The News, February 1, 2022.

TPLL has launched 'Fortune Shield' – a Term Life Takaful Plan for distribution through the auto dealerships in Karachi. Customers would also have access to its tele-health platform.

Manulife and Manulife China Bank Life Launch FutureBoost, a Flexible Insurance Plan that Offers Multiple Rewards and Bonuses to Help Filipinos Achieve Their Goals Faster. Press Release, February 21, 2022.

Manulife Future Boost offers Potential income through a premium bonus equivalent to 5% of their basic premium. Another benefit is an annual loyalty bonus equivalent to either 0.5% or 0.75% of their account values upon completion of their policy’s 10th year.

AIA Philippines Launches Variable Unit-Linked Life Insurance Product. BusinessWorld, February 10, 2022.

AIA All-In-One Plus is a variable unit-linked life insurance plan. The plan will include protection against accidents, disability, and critical illnesses aside from death. The plan also includes access to AIA Vitality wellness program which includes a Double Vitality Booster feature.

Manulife Singapore Launches Manulife Incomegen - A Short-Term Premium Commitment Savings Solution That Offers Singaporeans A Lifetime Lifestyle Allowance That Can Be Passed On To Future Generations. Press Release, February 10, 2022.

Manulife IncomeGen provides a reliable and steady stream of lifestyle allowance up to life-insured age 120, with just three years of premium payments. The plan also includes a change of Life insured option. When the Change of Life Insured option and assignment of policy ownership are held together, customers can pass down the policy in its entirety to their loved one and their next generation.

PRUVantage RetireCare. Product Brochure, March 2022.

The retirement plans pays out cash benefits for hospitalization, surgery, recovery and cancer drug treatments. The plan offers a flexible retirement age of 55, 60 or 65 years. There is also a choice of premium payment term.

Kyobo Life Insurance Launches My Data Service “Peach”. Smart Times, February 2, 2022.

My Data Service Pitch is comprised of six categories: Financial assistance, Lifetime asset planning, health fund management, financial education, arts and culture, and donation in daily life. The service provides a unique customer experience through financial and artistic and cultural contents.

Segurosbroker And Getlife Agree To "Revolutionize Life Insurance". PymeSeguros, March 7, 2022.

Segurosbroker, Group SNB's online brokerage, has signed a collaboration agreement with Getlife, to try to revolutionize life insurance with accessible, easy, and 100% online products throughout Europe. (Text in Spanish)

Mapfre Launches Dependency Insurance For People Over 55 Years Of Age. Archyworldys, January 20, 2022.

This life insurance has an issue age of 55 to 75 years of age. It covers seniors with moderate, severe, and high dependency and provides a monthly lifetime benefit. The income is chosen at time of policy and can be between 100 and 1,500 euros.

Life Insurance Corporation (Lanka) Launches "Sanjeewani" Plan. Daily News (Sri Lanka), March 25, 2022.

Life Insurance Corporation (Lanka) Ltd, a joint venture of LIC of India, Government of India and Bartleet Trans capital Limited, launched an innovative pure term Insurance Plan called “Sanjeewani.” The Plan offers dual benefit of life cover and return of premium. Additional features include double accident benefits and funeral benefits.

Bangkok Bank Public Joins AIA Thailand To Sell Life Insurance Online Focusing On High Coverage, Affordable Premiums, And Easy Access Via Mobile Banking To Serve Individual Needs. Market Screener, March 2022.

"Be Together for You" is a life and health insurance policy designed to serve personalized, individual needs. It is easy to buy via the Bangkok Bank Mobile Banking app with the product offering high coverage and affordable premiums. Each insurance package is tailored for each customer with coverage for life, accidents, daily compensation, critical illnesses, and total permanent disability.

The New Life Insurance Aimed at Millennials. Insurance News Magazine, March 24, 2022.

Bequest has designed its product around millennials. Life insurance from Bequest starts from the cost of two coffees a month, depending on the term and amount of cover chosen. A quote is provided right away, and a decision within minutes.

Guardian Angel Partners with Covéa Insurance to Offer A Solution To The Challenge Of Acquiring Life Insurance Prospects. Press Release, February 10, 2022.

Guardian Angel, which helps people plan for and manage death, has partnered up with Covéa Insurance to launch their new life insurance offering. Guardian Angel online life Insurance application has been designed to be accessible and straightforward. It offers a range of cover from £5,000 to £500,000. It can be completed in under 15 minutes, from home, without the need for any medical tests.

Neilson Financial Services and Post Office Announce Life Insurance Partnership. Press Release, February 1, 2022.

Neilson Financial Services will partner with the Post Office to support the development of their life insurance products. Post Office currently offers two main products: Post Office Life Insurance, and Post Office Over 50s Life Cover. This partnership will see NFS supporting the delivery of all Post Office Life and Post Office Over 50s cover policies.

Harbor Life Settlements Launches “My Policy Predictor”, a First-of-its-Kind Instant Life Settlement Valuation Tool. PR Web, March 30, 2022.

“My Policy Predictor” is a tool designed to provide key life settlement stakeholders with instant life settlement valuations for life insurance policies. It claims to be 89.2 percent accurate. The tool will help people understand the value of their life insurance policies.

Lincoln National Corporation - New Tool from Lincoln Financial Group and The Helper Bees Provides Added Support and Resources for Policyholders with Long-Term Care Benefits. Press Release, March 16, 2022.

Lincoln Financial Group announced the launch of the new Lincoln Concierge Care Coordination service. The platform was developed in conjunction with The Helper Bees. The service will provide those with long-term care benefits the ability to plan and support healthy aging and provide assistance with finding home care providers. Policyholders will be able to work with The Helper Bees Care Concierge specialists to develop personal action plans.

Finally, A Variable Universal Life Insurance Product Built for Fee-Based Investment Advisors. Press release, March 2, 2022.

Nationwide Advisory Variable Universal Life is a permanent life insurance policy. Nationwide Advisory VUL offers tax-deferred cash accumulation, tax-free income, tax-free fund exchanges, and an income tax-free death benefit.

Mutual of Omaha Launches Retirement Right Blueprint. Press Release, February 25, 2022.

Retirement Right Blueprint leverages technology to allow employers of any size to create a retirement plan for their employees. The product provides access to a relationship manager for all plans. There are also financial wellness tools embedded in the plan sponsor.

Ethos Is Piloting New Policyholder Perks. Coverager, February 16, 2022.

Starting in February, Ethos Life customers with a Legal & General America policy can receive a free perk. Ethos currently offers customers free access for one year to an app of their choosing. The apps available include Aaptiv, Headspace, and SHRED.

Ameritas Announces Whole Life Insurance Product Revisions. PR Newswire, January 14, 2022.

Ameritas has introduced enhancements to its whole life insurance products. The four new whole life insurance products are Ameritas Access Whole Life, Ameritas Growth Whole Life, Ameritas Growth 10-Pay Whole life, and Ameritas Value Plus Whole Life. A more flexible funding range using the Flexible Paid-Up or Level Term riders has been added. The Care4Life Accelerated Death Benefit Rider can now be used across all four whole life insurance products.

Transamerica Life Bermuda Launches New Trendsetter Ultra Term Life; New term life plan provides utmost protection for HNW customers... PR Newswire, February 28, 2022.

Trendsetter Ultra Term Life is a term life product. Some of its features include the ability to select the amount and duration of coverage. It provides protection for a family’s wealth in the event of an unexpected death.

Latest Variable Universal Life Insurance Offering from Lincoln Financial Provides Growth and Protection Flexibility. Press Release, January 24, 2022.

Lincoln AssetEdge is an accumulation-focused Variable Universal Life (VUL) insurance policy. The policy provides a range of investment options. The Enhanced Allocation Rider can be added to the policy at issue for no additional premium.

LifeLegacy Introduces Online Last Will & Testament. PR Newswire, January 20, 2022.

LifeLegacy has announced the roll-out of its third online planned giving product – a comprehensive last will & testament called Life Legacy Wills.

USAA Life Insurance Expands Availability of New Digital Life Insurance. PR Newswire, January 10, 2022.

USAA Life announced its new digital life insurance product that requires no medical exam is now available in 47 states. USAA Life's Essential Term Life Insurance (ETLI) is available to consumers ages 21-35 starting at $15 per month. There are only nine simple health questions to answer.

Ohio National Introduces New Whole Life Insurance Series Offering Maximum Death Benefit for The Money. Press release, January 4, 2022.

The Prestige Series from Ohio National offers a high death benefit for premium paid, while providing cash value accumulation opportunities. The new Ohio National whole life products are currently available through independent financial professionals in all states except NY.

Shinhan Life Officially Launches Life Insurance Business in Vietnam. Vietnam Economic News, January 25, 2022.

The company's first insurance product is - Shinhan - An Binh. It is a health product offering blood cancer protection for children.