ICICI launches 'Crisis Cover'

New Delhi, Aug 1 (UNI) Leading private life insurer ICICI Prudential Life Insurance has launched a health insurance product - 'Crisis Cover' - that provides comprehensive cover against diseases, disability and death.

It offers a wide coverage against 35 critical illnesses, total and permanent disability, and death over the long-term.

''In India although the health insurance market has doubled, the health insurance penetration is very low at two per cent. We hope that 'Crisis Cover', with its long-term, benefit-based approach and cover against a list of 35 illnesses is ideally positioned to boost the health insurance market,'' ICICI Prudential Life Insurance Managing Director and Chief Executive Officer Shikha Sharma told reporters here.

The conditions for the insurance are divided into two groups, which determine the payout advantage for policyholders. Group I includes conditions such as cancer, brain surgery, blindness, heart attack, in which full sum assured is paid on diagnosis, after which the policy closes.

Group II offers the coverage continuation advantage, which includes conditions like angioplasty, Alzheimer's disease, deafness and multiple sclerosis. A sum assured up to a certain amount is paid and the policy continues for the balance sum assured for the remaining critical illnesses, disability and death.

'Crisis Cover' is available for terms ranging from 10 to 50 years.

The policy can be taken by any healthy individual between 18-60 years and the term can be chosen up to 75 years of age. The sum assured under the plan can be between Rs three to Rs 20 lakh.

ICICI Prudential's other health insurance products include Health Assure, Health Assure Plus, Cancer Care, Cancer Care Plus, Diabetes Care, Diabetes Care Plus and Hospital Care.

UNI