What is New in ICICI’s Health Saver?
On Monday, 5, January 2009 ICICI Prudential Life Insurance, India launched Health Saver, to help their consumers and meet the current healthcare expenses along with investing for future healthcare expenses. Additionally, Health Saver is the only health savings product which gives tax benefits under section 80D on the total premium paid.
Health Saver is the very first of its type reimbursement-based hospitalization cover with the advantage of a health savings fund. In a word, the product is designed and planed to facilitate consumers manage the ever rising charge of healthcare. ICICI Prudential Life Insurance, said, “With the launch of Health Saver, integrating health and savings, we are confident that consumers will be able to build up a health fund to meet their future healthcare needs as well as have optimal coverage to meet their current healthcare expenses. Further, we shall leverage our extensive distribution strength to enable consumers’ access this product,” said Binay Agarwala, Senior Vice President & Head, Health Insurance.
The advantages of Health Saver, it allows claims against out-patient treatment, dental care and diagnostics amongst others after 3 years. On the other hand, it is structured to make sure that the consumers get guaranteed coverage up to 75 years, against actual medical expenses incurred owing to hospitalization. An interesting thing is that there is a no claim bonus of five percent of the annual limit for all claim-free year, and it is up to a maximum of twenty-five percent.
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