Other developments. The year is expected to bring in more non-conventional products. New products are likely to be launched in liability, health and terror insurance segments. Moreover, as the sector is being deregulated in phases, the customer stands to be the biggest beneficiary. Freedom from pricing means more underwriting by insurers and risk-based premium for customers.

All in all, the new year promises to bring in a lot of product innovation and offer more choices to customers. However, do remember to go through the fine print and take a note of exclusions before you buy these policies.

What 2009 has to offer

• Thrust on single premium, return guarantee, premium guarantee and NAV guarantee products

• Conventional products expected to find more buyers

• New Pension System opens to private sector workers

• More variety expected in motor and health insurance

• Mediclaim portability to be introduced

• More products in health, liability and terrorism insurance

suneeti.ahuja@expressindia.com