Since the Insurance Regulatory has established guidelines to allow insurance firms to launch a health insurance plus life cover product, insurers have begun discussions with other industry sectors for possible tie-ups to reveal the new policy.

The rules for the “health and life combi” products is with partnerships between life and non-life insurers. Health and life combination products are expected to be available in the market beginning next financial year.

Antony Jacob, chief executive officer, from an insurance group, said, “We have commenced preliminary discussions with a couple of life insurance players. We should have an arrangement by the end of January 2010 after which we will chalk out business plans and work on the product.”

Premiums for both health insurance and life cover will be separately mentioned in the policy document. On renewal, the customer will have a choice to continue with the both health plus life cover or only health insurance.