Now, even insurers care for your heart

CHENNAI, JUL 14: If insurance is the business of underwriting risks, then general insurance firms are more than willing to take that. For, many general insurers may soon launch healthcare policies for people afflicted by diseases such as diabetis and cardiac problems.
“It was unthinkable a few years ago. But now it is becoming a reality. Insurers are seeing a good business potential in covering such patients,” says a senior official with Tata AIG on condition of anonymity.

According to sources, Insurance Regulatory and Development Authority has been informally approached by many private sector general insurers with draft policies that cover known illnesses. “At least three companies are in the process of seeking Irda’s permission for healthcare policies to cover known diseases such as diabetis. These companies hope to get regulatory approval depending on the nature of policies they have prepared,” sources said.

Some industry insiders, however, claimed that some public sector companies had such policies under their belt, but these have not been marketed properly. For instance, United India Insurance is believed to have a policy targeted at people who have the potential to develop cardiac illness.

Source: Financial Express