Business Daily from THE HINDU group of publications
Thursday, Dec 07, 2006
ePaper
Business Daily from THE HINDU group of publications Thursday, Dec 07, 2006 ePaper |
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Money & Banking
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General Insurance Industry & Economy - Health Marketing - New Products & Services States - West Bengal Mediclaim for senior citizens unveiled Our Bureau
THE PRESIDENT, Mr A.P.J. Abdul Kalam; the Union Finance Minister, Mr P. Chidambaram; the West Bengal Governor, Mr Gopal Krishna Gandhi; and the Chairman-cum-Managing Director, National Insurance Co Ltd, Mr V Ramasaamy (second from right), at a function to release the Varistha Mediclaim for Senior Citizens in Kolkata on Wednesday. — Sushanta Patronobish
Kolkata , Dec. 6 National Insurance Co, the Kolkata-based insurance company which has completed 100 years, today unveiled a Mediclaim policy for senior citizens. The company, which has named it Varistha Mediclaim, selected two customers for the policy, which was handed out to them by the President, Mr A.P.J. Abdul Kalam. The policy has two sections. Section one covers hospitalisation and domiciliary hospitalisation expenses, while section two covers expenses for treatment of critical illnesses. The critical illness cover is optional. The sum insured is fixed - Rs 1 lakh and Rs 2 lakh, respectively, for section one and section two. The first customer who was handed over the policy was Mr S. Sen, 74. An insured person may under the terms of the policy opt for 20 per cent co-payment in which case 10 per cent additional discount in premium will be allowed. However, 10 per cent co-payment is compulsory. Incidentally, the policy involves cumulative bonus at the rate of 5 per cent of the sum insured (SI) for each claim-free year, up to a maximum of 50 per cent of the sum insured. Alternatively, 5 per cent discount in renewal premium will be allowed in respect of each claim-free year.
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