The Hindu Business Line : Good response to `IOB Healthcare'

THE new scheme from Indian Overseas Bank (IOB) offering health cover to account holders and borrowers through a tie-up with National Insurance Company has been rolled out to enthusiastic response in Kerala.

More than 2,300 persons have been covered on the first day after the scheme was officially unveiled at a function in Chennai on Tuesday. The response to the medical insurance scheme has been unprecedented in scale, according to Mr M.P. Ramkumar, Senior Divisional Manager, National Insurance, Thiruvananthapuram.

Titled IOB Healthcare, the scheme offers cover ranging from Rs 50,000 to Rs 3 lakh for account holders and families (spouse and two dependent children) at a nominal premium. The family can get access to network hospitals by producing the card provided by the third party administrator and get cashless treatment.

Meanwhile, a spate of theft and burglary cases reported in the capital city in the recent past has prompted a large number of enquiries for the householders' insurance policy marketed by National Insurance in the State. Issuances have been particularly frequent during the last two months, Mr Ramkumar said.

The fire policy has been extended to cover `explosion of gas' from domestic appliances. An instant case has been reported from one of the suburbs that caused damage to 30 per cent of the residential building. The insured will be indemnified at the earliest, Mr Ramkumar said.

Policy covers are available for loss or damage to contents by burglary and housebreaking, including larceny and theft. Some other contingencies covered are loss or damage to jewellery and valuables; loss or damage to building from fire, lightning, bursting and overflowing of water tanks, riot and strikes; earthquake, floods and inundation; storm, tempest, tornado or cyclone and impact damage.

Similar cover is also available for domestic appliances caused by mechanical and/or electrical breakdown and insured's accompanied baggage by accident or misfortune while on travel anywhere in the country.

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