New Delhi: In a move that could benefit insurance subscribers, from now on insurance firms are permitted to offer 'Health plus Life Combo Product,' which is a policy combining both life and health insurance. According to Insurance Regulatory and Development Authority (IRDA), henceforth life and non-life insurance firms can have a tie-up to provide such a combo cover for the policyholders. The IRDA said that the proposed combo cover will enhance the penetration of personal lines of insurance business with a wider product choice to policyholders. Under the current structure, non-life insurers do not provide pure life insurance products to its customers, reports PTI. The IRDA notified the guidelines after insurance firms requested for an "umbrella of a single product" to give more choice to the customers. The IRDA also said that it would be compulsory for life and non-life insurance firms to sign agreements with each other before offering the new product. According to SB Mathur, Secretary General of Life Insurance Council, the combo products will help the policyholders and will also increase the penetration of health insurance in India. "A tie up is permitted between one life insurer and one non-life insurer only. Thus, a life insurer is permitted to tie up with only one non-life insurer and vice-versa," IRDA said. The regulator added that between these two insurers any number of combo products may be offered.