ICICI Prudential Life Insurance has launched first-of-its-kind health product catering to women specific critical illnesses and surgeries.
ICICI Pru Wish has been developed in collaboration with Reinsurance Group of America Inc, a leading global life and health reinsurer.
The product offers an instant payout of up to 100 per cent of the health cover amount on diagnosis of critical illnesses such as breast, cervical, uterine cancers and heart ailments to name a few.
Providing flexibility
Unlike standard plans, where the payouts are in the form of reimbursements, this product offers a fixed lump sum on diagnosis, providing flexibility to customers.
ICICI Pru Wish, with its premium guarantee for 30 years, can enable customers to better plan for their premium payments. It also provides customers with a premium sabbatical for 12 months, anytime during the premium payment term. It also offers customers an option to cover maternity related complications and newborn congenital illnesses.
Amit Palta, Chief Product and Distribution Officer, ICICI Prudential Life Insurance, said the product empowers women to be financially prepared by offering a lump sum payout to cover medical exigencies.
“We believe the women customer segment offers a large market opportunity, and this product has been specifically designed to address the insurance needs of this segment,” he said.
Sunil Sharma, Chief Executive Officer, Reinsurance Group of America, India said the partnership for ICICI Pru Wish highlights the mutual dedication to offering innovative, customer-focused solutions for changing market demands.