It covers critical illnesses besides long term insurance coverage for hospitalisation, surgeries under three distinct groups of solutions-medicash, wellness and safety-net plans, according to the company's Regional Manager Sanjay Sabharwal. Explaining salient features of the scheme, Mr Sabharwal told mediapersons that it provides the customer with protection against medical expenses related to hospitalisation besides recuperation benefits.
The launching of the products across the country will be backed by elaborate marketing efforts to create awareness about health insurance and its importance to all consumers in the emerging India, he said.
Awareness about the benefits of health insurance was needed particularly in rural areas with its penetration was merely 1.2 per cent on an average.
It was a mere 0.5 per cent in rural India as against 1.9 per cent in small towns and 3.9 per cent in large towns.
At the same time, 82 per cent of the population getting medical treatment had been found borrowing money for the purpose where 15 per cent of the people were claiming reimbursement through health insurance plans, he said.
In this background, the health insurance companies need to tap the huge potential for the market to benefit the consumers in a big way with incidence of life threatening disorders like the diabetis, heart ailments and tuberculosis on rise along with the life expectancy, he added.