Bajaj Allianz launches customisable health policy

MUMBAI: Bajaj Allianz General Insurance has launched a modular health insurance product offering customised packages, including flexibility to choose services and premium.

In the motor insurance space, which is the mainstay of general insurers, already such plans are in place offering lower premium on lower usage of the vehicle.

Tagged 'My healthcare plan', the new health insurance product is an umbrella product that offers customisable packages, including the flexibility to choose the covers according to one's needs, and also the freedom to design their own health care plan based on which the premium will be determined, the Pune-based company said in a statement on Wednesday.

The plan also consists of mandatory coverages like in-patient hospitalisation expenses, pre- and post-hospitalisation expenses, modern treatment methods and advancement in technologies, organ donor expenses, ayurvedic and homeopathic hospitalisation cover, maternity package expenses, and airlift cover, among others. The maternity plan also covers the surrogate mother as well as the complications of assisted reproductive procedures.

Another highlight is the baby care cover, under which the newborn baby is covered from the first day of birth until the expiry of the policy.

Standout features of the product include the OPD sum insured of twice the base premium paid.

The policy also offers three optional covers -- loss of income cover, major illness and accident multiplier covers, and international cover.

Under this product, we will be introducing multiple plans incrementally, starting with plan 1 where the customers can package the policy to their requirements, Tapan Singhel, MD & CEO of Bajaj Allianz General Insurance, said.