ICICI Lombard General Insurance has launched “Complete Health Insurance” — a flexible health insurance scheme.
The product has new features, including choice of sum assured starting from Rs 1 lakh to Rs 50 lakh, the company said.
The policy offers lifetime renewal with no restrictions on entry age, said Sanjay Datta, Chief-Underwriting and Claims, ICICI Lombard General Insurance.
In this product, a customer can choose critical illness cover for specified illnesses or medical procedures. A lump-sum is paid on diagnosis of the critical illness.
Also, expenses relating to routine health check-ups and other wellness/fitness activities are reimbursed. There is also an outpatient treatment cover.
It also allows reimbursement of travel expenses to the nearest hospital under a medical emergency, Datta said.
The product is available for one or two years, for individual as well as family floater plans.
Health insurance accounts for 25-28 per cent of the revenues of ICICI Lombard.
The company expects to report profits this financial year, after having recorded losses in the last two financial years, Datta said.
Part of the reason for expected improvement in financial performance is that the problems related to motor pool have been addressed, he added.