India based IDBI Federal Life Insurance has launched two new insurance plans - Loansurance Group Life Plan, and Healthsurance Hospitalisation and Surgical Plan.

The Loansurance Group Life Plan offers coverage to its borrowers, be it a loan taken by individuals or by a business entity, against default in unfortunate case of death of the person who is responsible for loan repayment.

Healthsurance Hospitalisation and Surgical Plan help customers to manage the extra financial burden that comes with hospitalisation.

In addition, IDBI Federal Life Insurance has also established a new branch office in Guntur, Andhra Pradesh.

IDBI Federal Life Insurance national head of agency & alliances Murali Iyer said that the company sees a major opportunity in Guntur not only to expand its business through its distributor base but also to harness the alliances opportunities in the region.