Called IncomeNow, it is a savings and protection plan aimed at customers looking for guaranteed income along with life insurance cover.
IncomeNow is a non-linked plan, meaning returns are not tied to the stock market, and all benefits are guaranteed.
The company said the product is designed for people who want regular income, clear payouts, and long-term financial security.
The plan starts paying guaranteed income from the first year of the policy, with payouts beginning within weeks of the policy start date.
Customers can choose between two income options.
The first option provides a fixed and predictable income from the first year throughout the policy term, along with a lump sum payment at maturity.
The second option offers income that starts from the first year but increases over time in set steps, ending with a lump sum payout at maturity. This is designed for customers whose expenses are expected to rise in the future, reported Insurance Asia.