Financial Daily from THE HINDU group of publications
Wednesday, Sep 08, 2004
Financial Daily from THE HINDU group of publications Wednesday, Sep 08, 2004 |
||
|
|
||
|
Money & Banking
-
Credit Cards & Debit Cards Industry & Economy - Health Health cover for Andhra Bank credit cardholders Our Bureau
Hyderabad , Sept. 7 ANDHRA Bank has decided to offer health insurance facility to its credit cardholders in alliance with United India Insurance Company. The facility, AB Arogyadaan, is intended at taking care of the medical bills consequent to hospitalisation including Accident Trauma Care. It is a group mediclaim policy that covers a family of four towards any hospitalisation expenses against payment of a nominal single premium equivalent to one person's mediclaim cost. According to the Andhra Bank General Manager, Mr A.L. Nageswara Rao, the new product is distinctly superior to the various hospitalisation insurance schemes sold by companies under mediclaim. "The scheme has become immensely popular, which is evident from the fact that 35,000 families have patronised it within two months of its launch," he informed the cardholders through a letter. The premium remains uniform irrespective of age of the members. The age limit for the first time coverage is fixed at 65 years and for renewals it is extended up to 80 years. Further, according to Mr Nageswara Rao, pre-existing diseases were also covered from the fourth year onwards, subject to no claims due to the disease for the first three consecutive years. AB Arogyadaan is being made exclusively available to the Andhra Bank accountholders and credit cardholders and family members at special rates. All the policyholders would be given an option whether they require the services of third party administrators (TPAs) or not. They have to specify the name of the TPAs, if required, in the proposal form itself. The insurance company empanels the TPAs and at present, there are five under the scheme. The TPA would issue photo identity card as soon as the insurance company issues the policy.
More Stories on : Credit Cards & Debit Cards | Health | General Insurance
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|