ICICI Lombard in partnership with Freepaycard, an online pre-paid card trading platform, has launched three new health insurance policies.
The new bite-sized insurance policies allow Freepaycard members to receive an assured amount in case of any injury or hospitalization for treatment.
The insurance offering is a customized hospitalization product that comes in three variants - Hospital Daily Cash Benefit, Death Benefit, and Special Vector-borne Disease-related Hospitalization Benefit.
We believe affordable health and medical insurance is the need of the hour"
The Hospital Daily Cash Benefit will let customers avail sum insured up to Rs 60,000 (£615) for a maximum period of 30 days. This option can be availed at Rs 699 for a 1-year tenure. It will be useful in case of hospitalization at any government or private hospital across the country. Freepaycard members who already have health insurance policies or employer health insurance can also opt for this cover.
The second cover, Death Benefit or the Personal Accident Cover for 1-year at Rs 699 for a sum insured of Rs 10 lakhs in case of accidental death of the insured or permanent total disablement, and Rs 90,000 for parental care in case of the insured's accidental death or permanent total disablement.
The Special Vector-borne Disease-related Hospitalization cover comes at Rs 379 for a year for a sum insured of Rs 75,000, which is paid on hospitalization due to any of the covered vector-borne disease or malaria. These include dengue, chikungunya, kala-azar, Japanese encephalitis, and filariasis. However, a minimum of 48 hours of hospitalization is required for the insured to be eligible for the claim.
Sanjeev Mantri, executive director, ICICI Lombard General Insurance said, "We are delighted to partner with Freepaycard to offer several relevant covers to their customers to provide them financial relief and thereby peace of mind in their hour of need."
"We believe affordable health and medical insurance is the need of the hour and that every member of ours should have access to this facility," said Richard Andrew, MD & CEO, Freepaycard Retail Pvt. Ltd.
All Freepaycard members in the 18-65 age group are eligible for the product. Additionally, customers can choose either of the three or all three covers as per their requirements and get themselves insured.