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Monday, July 13, 2009

HIV cover among new offerings from Oriental

Non-life insurance companies who had never wished to cover the dreaded Human Immunodeficiency Virus (HIV) are now revisiting their stance. The government-owned Oriental Insurance Company is finalizing the contours of a health insurance policy that would cover HIV. The company will be filing the product with the Insurance Regulatory & Development Authority soon.

M Ramadoss, Chairman-cum-Managing Director, Oriental Insurance said, "Health insurance policies currently exclude HIV treatment. The health product we are finalizing will cover HIV and can be bought by people who are not suffering from HIV."

When asked if the policy will be priced high, Ramadoss said, "It will be slightly expensive." Currently, Chennai headquartered Star Health and Allied Insurance offers a group cover for people already suffering from HIV. The policy has been taken by 1,500 people as a group in Karnataka and Tamil Nadu.

Source: Hindustan Times

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