Aviva Life Insurance launched an online health plan, Aviva Health Secure, recently. The plan provides the policyholder with a lumpsum amount on diagnosis of any of the 12 critical illness covered by the policy.
The policy premium amounts to Rs 2,000 and above a year. The policy can be bought at www.avivaindia.com for any major medical expenses by the insured.
Sum assured
The minimum sum assured is Rs 5 lakh, and extends to a maximum of up to Rs 50 lakh. The age limit ranges from 18-55 years for a minimum policy term of 10 years and a maximum of 30 years.
The company said that unlike other health insurance products offered by the non-life insurance companies which are indemnity based, Aviva Health Secure offers the policyholder a lumpsum based on the sum assured for the illnesses irrespective of the hospital bills.
Mr T. R. Ramchandran, CEO and MD, Aviva India, said: “It is estimated that the total healthcare expenses in India will rise to $425 billion by 2016. Even now 79 per cent of Indians fund their own medical expenses compared to 17 per cent in the UK.â€
The company already has an online health product called ‘Aviva i-Life’ launched in June last year. “We sold 22,000 policies (about 10 per cent of the total policy sales) in eight months,†said Mr Gaurav Rajput, Director, Marketing & Products, Aviva India.
“For Aviva Health Secure, we’re targeting the younger generation in the 25-45 age group typically in the top eight cities,†he added.
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Beena Parmar
http://www.thehindubusinessline.com/industry-and-economy/banking/article3489753.ece
