Mumbai, Sep 2: Making a foray into the health insurance sector, HDFC Standard Life on Tuesday, Sep 2 announced its maiden product, 'HDFC Critical Care', covering 30 critical illnesses. The company in a release here said, Critical Care provides a maximum cover of upto Rs 20 lakh with the minimum cover being Rs two lakh.
HDFC Standard Life Managing Director and Chief Executive Officer Deepak Satwalekar said that the entry into the health insurance market is a significant move in line with the company's business objective. ''The low penetration of health insurances in India gives us a tremendous opportunity to provide quality health insurance'' he said. Other health products in pipeline included hospital cash and surgical care.
The most unique feature is the premium waiver option available to customers diagnosed with a particular set of critical illness categorised as Group B. Under such a situation, 50 per cent of the sum assured would be paid in case of a valid claim, and post the claim all further premiums would be borne by HDFC Standard Life, and the policy would continue.