Kochi, Mar 19: Taking note of the high incidence of medical problems and escalating cost of medical treatment in India, Max New York Life Insurance today launched its 'Lifeline' insurance plans, which brings long-term insurance coverage for hospitalisation, surgeries and critical illness.
Speaking to mediapersons here, Company Senior Vice-President Rajendra Sud said the series would comprise of three distinct groups of solutions -- Medical Plans, Wellness Plans and Safety Net. The 'Medical Plans' were hospital cash plans that provide the customer a fixed per day benefit for hospitalisation, ICU admission, recuperation benefit and a lump sum benefit against an unlimited number of surgeries, Mr Sud said.
While the 'Wellness Plans' provide critical illness cover against as many as 38 critical medical conditions, the 'Safety Net' offered a comprehensive term plus health protection plan, offering the policy holder protection from any losses arising out of critical illness, accidents, disability and death.
The plans provide some unique features like fixed premium for a five-year period, no claim discount on revised premia for leading a healthy life, coverage for the largest number of ailments, free second opinion from the best hospitals on diagnosis of illness and free telephonic medical helpline, Mr Sud said.
He noted that the insurance sector had a great potential as the penetration rate of health insurance was just 1.2 per cent across the country.
Max New York Life, a joint venture between Max India Ltd. and New York Life, had sold over 21 lakh policies with a total sum assured of Rs 62,000 crore in India.