Personal Finance

Insurance corner

| Updated on March 17, 2019 Published on March 17, 2019

Future Generali to reinstate lapsed policies

Future Generali India Life Insurance has announced its special late fee waiver campaign, ‘Revival Time’, for the benefit of their existing customers. This move will help reinstate lapsed policies, Customers can pay the outstanding premium and receive a late fee waiver of up to ₹2,000 till March 31, 2019. This offer is valid for all lapsed policies under the revival period; however, it is subject to certain underwriting rules and company policies.

The insurer has also enabled multiple payment options for the policyholder’s convenience. Customers can pay online through the company’s website, Paytm, BillDesk, PayUBiz, UPI and JioMoney. Alternatively, they can visit their nearest SBI bank, Axis Bank, ICICI Bank, Common Services Center (CSC), ItzCash and 100+ Future Generali Life Service Branches to revive their lapsed policies.

HDFC Life Sanchay Plus launched

Sanchay Plus, launched by HDFC Life, is a non-participating, non-linked savings insurance plan and comes with four benefit options — guaranteed maturity, guaranteed income, lifelong income and long term income. The guaranteed maturity option provides guaranteed benefit at maturity which can be up to 2.45 times the premium paid. The guaranteed income option provides guaranteed regular income up to 228 per cent of the annualised premium per annum after maturity for a fixed period. The long-term income option provides guaranteed regular income for 25 or 30 years with return of total premium paid at the end of the payout period. Lastly, the life income options provide guaranteed income till the age of 99 years with return of total premium paid at the end of the payout period.

The plan also comes with two rider options — income benefit on accidental disability rider and critical illness plus rider. In case of death of the life assured during the policy term, the death benefit along with accrued guaranteed additions, if applicable, is payable to the nominee.

Add-on cover from Edelweiss General

Edelweiss General Insurance has introduced add-on cover, Health 241, for Edelweiss’s base health policy. If the ‘two for one’ add-on is bought along with the insurer’s health insurance Policy, and if the first year is claim-free, the customer is covered free (for the add-on policy) for the second year.

This plan can be added on whenever anyone purchases a new Edelweiss health policy for the first time and the premium waiver benefit is currently applicable during the first renewal of the policy, if there is no claim paid/payable during the first year.

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