Future Generali India to start on health plus term life insurance plan

Following Insurance Regulatory Development Authority's move to allow insurance companies to offer ?Health plus Life? products, Future Generali India Life Insurance, the insurance joint business enterprise between Future Group and Generali of Italy, is planning to launch a combo plan in the next 2 months.

?We are looking to launch a health plus term life insurance product, perhaps in the next 2 months. I see this type of product to progressively build over the next 3 to 5 years. It can lead to some other combinations, and set the ball systematic for more complex products,? said Deepak Sood, chief executive officer, Future Generali Life Insurance, on the sidelines of a press meet here today.

In December, the regulator permitted companies to offer ?Health plus Life Combo Product? ? a policy that will offer life cover along with health insurance. For this, life and non-life insurance companies need to enter into agreements to offer the health-cum-life cover.

At present, about 70(%) per cent of the company's businesses approach from unit linked products. This year, the company is hoping to achieve a new business premium of Rs 1,200 crore, from Rs 486 crore previous years.

The company on Monday launched Future Generali NAV Assure, a unit linked insurance plan, a NAV guarantee unit-linked Insurance plan.