Tata AIG General Insurance Company has launched 'MediPrime', their lifetime renewable reimbursement health insurance policy. Under this facility, a policyholder can enjoy the cashless hospitalisation benefit that is available through a network of over 3000 hospitals.
Mr Gaurav Garg, MD & CEO, Tata AIG General Insurance Company, said that the main features of the policy are: First, it is renewable for life; second there is no loading on renewal in the case of a claim; third the company will settle claims within 7 working days after completion of all necessary documentation, fourth there are no sub-limits across hospitalisation benefits and fifth there is no co-pay
While medical expense claims are occasionally inflated, there is normally no doubt that the policy holders have had some ailment/illness which necessitates hospitalisation, Mr Garg said. The company has decided to trust the customers fully and had therefore designed a product which did not involve them sharing the burden (co-pay), he said.
Mr Garg said that the pricing of the product was competitive when compared to similar products in the market. Indicatively, the premium for a Rs 5 lakh cover for a person between the age of 46 and 50 would be 11,311. A family floater policy covering two adults of the same age group (46 to 50 years) would cost Rs 16,312.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.