Policybazaar launches unique health, wealth and life solution: Key details

Ageless plan -One can buy the plan now and pay the applicable premium as per the same age for blocks of 10 years.

Tax saving- This is a tax-saving tool which addresses Section 80C, 80D and 10 (10D). ULIP provides the policyholder with the benefit of Section 80C and 10 (10D) owing to the life insurance component and health insurance component being eligible for rebate under Section 80D.

Wealth creation – ULIPs are a popular market-linked choice for investors as historically, Indian markets have provided about 12-14 percent returns under favourable conditions. In this specific plan, the policyholder will receive double the amount of premium invested at the time of maturity even if the funds grow at an 8 percent rate.

Booster Benefit - The plan also comes with a Booster Benefit in health insurance which doubles the sum insured in two claim-free years.

ReAssure Benefit - The ReAssure benefit gets triggered right after the first claim, and is unlimited and up to Base Sum Assured.

Preventive healthcare - The plan also comes with a layer of preventive healthcare by offering the customer coverage for annual health check-up from day 1 of the policy.

On launching this product offering with Policybazaar, Krishnan Ramachandran, MD & CEO, Niva Bupa Health Insurance, said, “Today’s consumers are highly evolved and are looking at holistic solution for their financial and healthcare needs. This product will surely interest the younger audience, especially first-time buyers. The highlight of this product, apart from the other benefits, is that it fixes the entry age of customer for blocks of 10 years, which would imply that the customer would need to pay the applicable premium basis the entry age till the 10th renewal. This will encourage buyers to invest at an early age. We urge the consumers to optimize the opportunity for health and life coverage and also avail tax benefit before the end of the fiscal year.”