• search

NRI insurance from IOB

Written by: Staff

Chennai, Apr 11 (UNI) In yet another initiative to provide value addition to its NRI customers, the Indian Overseas Bank (IOB) today launched a new insurance scheme - IOB-NRI Shield - in association with United India Insurance (UI).

Launching the product, IOB Chairman and Managing Director T S Narayanasami and UII CMD M K Garg told reporters here the new scheme would cover all existing NRI customers who would be visiting India on payment of a nominal premium of Rs 250 per lakh.

'The scheme aims at providing all conceivable insurance cover that is required by the NRI and family when on a visit to India', Mr Narayanasami said. The range of cover under Plan A, restricted to 180 days a year, included personal accident, total disability and partial disability, medical benefits due to accident, loss of baggage, delay in receiving checked-in baggage and loss of passport.

Under Plan B, the NRI could also opt additionally for Health Insurance cover for additional premimum, which allowed treatment in super-speciality hospitals or any other networked hospitals in India.

IOB had a total of 82.26 lakh NRI account holders as on September 30 last year and was expecting business revenue of Rs five crore.

'We have just started. By virtue of many facilities embedded in the policy, including low premium, it should catch up with other NRIs (those not banking with IOB) and bring them to our fold', he said.

UNI GV AA 1745

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more