SBM, NIC joins hands to launch policy for account holders

Bangalore, June 26 (UNI) The State Bank of Mysore (SBM) and National Insurance Company Limited (NICL), one of the top five insurers in the Asia Pacific Region, have launched 'Dhanvanthari Bima Policy', a health insurance scheme, exclusively for the benefit of SBM account holders.

Speaking after launching the policy, SBM Managing Director Vijayanand said the bank had tied-up with the NICL to offer the unique health care product to leverage its capability to offer more value proposition services to its customers, especially those in rural areas.

He said the policy covered hospitalisation expenses of an account holder and his family members in the age group of three months to 60 years and required no medical examination for entry into the scheme. Cashless access had been arranged with over 1,500 hospitals across the country, he added.

Mr Vijayanand said the healthcare insurance offered vast potential in the country as only a market share of Rs 2,000 crore had been tapped as against the estimated volume of over Rs 50,000 crore.

He hoped that the policy with special features would evoke good response from its customers.

Mr Vijayanand said the policy would be extended to its account holders under the first phase and later extended to other Regional Rural Banks sponsored by State Bank Groups.

Speaking on the occasion, NICL Chairman and Managing Director, said a majority of the healthcare insurance schemes were popular only in urban areas and hoped that the tie-up with SBM, which had substantial branches across rural and semi-urban areas, would help popularise the schemes in non-urban areas too.

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