The Hindu Business Line : Union Bank ties up with New India Assurance

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Madurai Feb. 22 Union Bank of India has launched `Union Health Care', a medical insurance cover (mediclaim) for its customers, in a tie-up with The New India Assurance Co Ltd.

The policy offered at a competitive premium per family consisting of four persons, provides for reimbursement ranging up to Rs 3 lakh in a year and tax benefit under Section 80-D of I-T Act. The policy period is from January 2, 2007, to January 1, 2008. All its customers are eligible, with the maximum age limit set at 65 years.

The product will be of great help to customers in the semi-urban and rural areas where they are unaware of mediclaim insurance and borrow money at exorbitant rates of interest to meet their medical expense, said a bank release.

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