Venu Srinivasan, Chairman Emeritus of TVS Motor, and V Jagannathan, Founder of Star Health and Allied Insurance, have unveiled Galaxy Promise, the first product from their newly formed joint venture, Galaxy Health Insurance. The launch marks a significant milestone in health insurance innovation, aimed at providing affordable and comprehensive coverage to Indian families.
Comprehensive Plans for Every Need
Galaxy Promise offers sum insured options ranging from Rs. 3 lakh to Rs. 1 crore, catering to diverse financial and health care needs. The product comes in three variants – Signature, Elite, and Premier – each designed to address the rising costs of health care, which are increasing by 10-15% annually due to inflation, advanced treatments, and the growing demand for specialized care.
The plans also feature enhanced optional covers, allowing families to tailor their insurance to their unique requirements. “At Galaxy Health Insurance, our ethos is rooted in the belief that health care should be accessible, dependable, and proactive for every family,” said G Srinivasan, Managing Director and CEO of Galaxy Health Insurance.
Key Features and Benefits
Galaxy Promise is packed with innovative features that set it apart from conventional health insurance offerings:
1. Unlimited Restoration of Sum Insured: Customers can make multiple claims within a policy year, with the sum insured restored each time, even for recurring health issues or subsequent hospitalizations.
2. Fixed Premium Rates: Premiums remain fixed up to the age of 55 or until a claim is made, providing stability and encouraging long-term policy retention.
3. Comprehensive Coverage: Over 68 items are covered under the policy, including admission, record, and insurance processing charges, ensuring a seamless experience for customers.
Galaxy Health Insurance received its regulatory license in March 2024, establishing itself as a standalone health insurer committed to delivering innovative and proactive solutions.
A Vision for Preventive Health Care
The product launch emphasizes the importance of preventive health and wellness in addition to financial security during medical emergencies. Galaxy Health Insurance aims to foster a culture of health awareness while offering financial protection against rising medical costs.
“Galaxy Promise reflects our dedication to addressing the real needs of families by providing innovative health insurance solutions that bring peace of mind and security,” added G Srinivasan.
