ICICI Prudential Life launches crisis cover

NEW DELHI: Private sector life insurer, ICICI Prudential Life on Wednesday announced launch of health insurance product, Crisis Cover, which will provide health as well as cover against 35 illness. The product is unique because it offers the widest coverage against critical illnesses, total and permanent disability and death over long-term, making it a comprehensive critical illness plan available in the country, ICICI Prudential Life Insurance Managing Director Shikha Sharma told reporters here. "Rapid progress has the unfortunate side effect of increased stress and other factors have led to an increase in the incidence of illnesses, particularly lifestyle diseases. For many, financial constraints keep them from accessing appropriate health care and we believe that the product is ideally positioned to bridge this gap," she said. Available in two options, the 35 conditions under the scheme includes angioplasty, brain surgery, coronary artery bypass surgery, kidney failure, heart attack, major organ transplant and stroke. The policy can be taken by any healthy individual between 18-60 years and the term can be chosen up to 75 years of age. The sum assured under the plan can be between Rs 3-20 lakh. The insurer last week had infused Rs 300 crore fresh capital taking the total base to Rs 2,372 crore for meeting the solvency norms and incur high up-front expenses. During the the first quarter of the current fiscal, the insurer registered a 22 per cent growth in premium income from new business at Rs 987 crore as against Rs 812 crore in the corresponding period previous fiscal.
Source:Economic Times