Mumbai, Feb 23 (UNI) The National Insurance Company (NIC) has developed a co-branded family health insurance policy for 26 million account holders of the Bank of Baroda (BoB).
The policy, available to all account holders upto the age of 65 years, will have minimum annual premium Rs 969 for a sum insured of Rs 50,000 and maximum Rs 6,997 for a sum insured of Rs five lakh, covering the account holder and his/her family of three members (wife/husband and two children).
Earlier, NIC had designed a similar product for Vijaya Bank customers.
In fact, the Kolkata-based general insurance firm has bancasurance tie-ups with 16 leading banks that include Bank of Baroda, Bank of India, UCO Bank, Allahabad Bank and State Bank of Mysore for sale of general insurance products.
BoB Chairman and Managing Director Dr A K Khandelwal said the product would be extended further to the two lakh BoB debit card holders and efforts would be made to design the similar products further for various segments of customers such as women, young professionals and retired persons.
The family health scheme will be optional for the account holders at almost all 2,600 branches of the bank in the country. The scheme administrators will be E-Meditek Solutions in western and northern India, Medicare services in eastern India and TTK healthcare services in southern India.
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