Aegon Religare Life launches fixed-benefit health plan

MUMBAI: Aegon Religare Life Insurance (ARLI) launched its new fixed-benefit health insurance plan, Aegon Religare Health Plan.

The plan offers coverage of all surgeries, guaranteed payment in case of claims and a cashless facility at over 3,000 hospitals, a press release issued here stated.

"Medical expenses are increasing, making health insurance a must. However, it is critical to have certainty of payout. A comprehensive fixed benefit plan plays a very important role as this tends to remove the surprise element from claims. Our plan is designed such to provide comprehensive coverage and fixed benefits," ARLI Chief Marketing Officer Yateesh Srivastava said.

The plan would be distributed through the company's regular channels and would also be available online, the release said.

The plan covers all kinds of surgeries, including 240 day care treatments and 10 critical illnesses, and guarantees a fixed amount of money, irrespective of the actual hospital bill, the release said.

Under the health insurance plan, the company guarantees a fixed premium rate for three years, which means in case of a claim in the first or second year, the premium will not increase.

The benefit amount under the plan would increase by 10 per cent for every no claim year (the maximum increase will be capped at 50 per cent) and can be renewed till the age of 85.