The Hindu : Karnataka / Bangalore News : LIC launches Health Plus policy

Online edition of India's National Newspaper
Tuesday, Feb 05, 2008
ePaper | Mobile/PDA Version

Karnataka

Karnataka - Bangalore

LIC launches Health Plus policy

Staff Reporter

This is the insurance giant’s first health-related product
It is meant to fund healthcare for the entire family

— Photo: Bhagya Prakash K.

HEALTH COVER: Actor ‘Sihi Kahi’ Chandru launching LIC Health Plus in Bangalore on Monday.

BANGALORE: As part of the nationwide release, the Bangalore Division of the Life Insurance Corporation (LIC) of India on Monday launched its first health insurance product, Health Plus.

S.R. Hanchinamani, senior divisional manager, said: “For the last 52 years, we have only insured life. Success of any organisation depends on changing its nature to suit the needs of the people it serves. In this regard, for the first time we have launched a health policy.”

He said that the policy was not one meant for medical reimbursement and its purpose was to fund healthcare for the entire family and provide “financial cushioning during health related crises”.

Explaining the features of the policy, R.K. Varma, marketing manager, said that Health Plus was the first unit linked health insurance policy and all benefits in the scheme were tax-free.

Hospital cash benefit can be availed of if those covered under the policy is hospitalised for more than 48 hours. “It also accounts for inflation as such the daily benefit starting at a minimum of Rs. 250 will go up by five per cent every year,” Mr. Varma said.

Other benefits include major surgical benefit where a lump sum benefit will be paid to the policy holder in case of surgery and domiciliary treatment benefit where 50 per cent of the fund value can be encashed to meet medical exigencies.

New members can be included for insurance at any given point during the term of the policy. Those between the ages of 18 and 55 can take the policy while the insurance cover ceases at the age of 65. No partial withdrawal or policy loans are available under the policy.

The policy holder can increase or decrease the premium amount and it will not affect the level of health cover. The proposal for Health Plus can be submitted at any LIC branch.

The policy was launched by actor “Sihi Kahi” Chandru.

Printer friendly page
Send this article to Friends by E-Mail

Karnataka