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Thursday, June 11, 2009

Bharti AXA General Insurance launches Smart Health Critical Illness Policy

New product covers as many as 20 Critical Illnesses; Offers protection for the entire family; Cashless facility at over 4000 network hospitals

Bharti AXA General Insurance Company Limited, has received the regulatory approval for its Critical Illness Insurance policy. The company already has Group & Individual Health as well as Personal Accident products under its current health offering to the market.

The Critical Illness Insurance policy launched by the company offers various unique benefits:

  • Covers 20 critical illnesses like: Cancer, First heart attack, Heart valve surgery, Coma, organ transplantation, kidney failure etc
  • Family Floater facility for self, spouse & two dependent children up to the age of 23 years
  • Flexibility to choose coverage either as payment of hospitalization expenses or as payment of compensation
  • Value-added benefits such as hospital cash allowance, recovery grant, dread disease recuperation among others, under payment of hospitalization expenses option
  • Cashless facility at over 4000 of Bharti AXA GI’s network hospitals
  • 5% discount on policy renewal premium for every claim-free year

Commenting on the launch, Narayanamurthy, Senior Vice President -Underwriting & Product Development, Bharti AXA General Insurance Co. Ltd. said “The Smart Health Critical Illness Policy from Bharti AXA General Insurance is a comprehensive cover that offers flexibility to choose not only from a range of add on covers like Home Nursing, Hospital Cash Allowance, In-patient Physiotherapy Charges and many more, but also provides the insured the option to choose coverage as reimbursement of hospitalization expenses or as a lump-sum. The product can be taken as a “stand-alone” cover or as a supplement to one’s existing health insurance cover”.

Dr. Amarnath Ananthanarayanan, CEO, Bharti AXA GI said “Critical Illness cover is extremely important as illness can affect us at any time. Our aim is to raise awareness of the benefits of critical illness and other health insurance products. We want to play a key role in helping people prepare for the unforeseen, being available, attentive and reliable to our customers when they need it most.”

The company has also filed 2 more products with the regulator - SmartHealth Essential & SmartHealth High Deductible. Health insurance constitutes around 15% of total General insurance premium. The Health premium is about Rs. 4500 Crores against the total GI premium of Rs. 28,000 Crores


About Bharti AXA General Insurance

Bharti AXA General Insurance Company Ltd is a joint venture between Bharti Enterprises, a leading Indian business group and AXA, a world leader in financial protection. The joint venture company has a 74% stake from Bharti and 26% stake of the AXA Group. Currently the company has34 offices in 26 locations across the country, and plans to expand to over 70 locations by the end of 2009.

Bharti AXA General Insurance combines Bharti's powerful leadership position in India, its network and corporate relationships, with AXA's vast experience as the leading global provider in Financial Protection and Asset Management services in over 55 countries across the globe. The company will leverage AXA's operational excellence in the areas of product innovation, technical excellence, quality of service, productivity and distribution, as well as their expertise in claims management, underwriting, pricing and investment performance. Bharti AXA General Insurance will hence provide a well defined product portfolio that will have both traditional and innovative product solutions for the corporate and retail customers.

source: PR Wire

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