The growing need for more comprehensive healthcare solutions is highlighted by a survey conducted by Future Generali India Insurance as part of the #Health Unlimited initiative.
The survey, which involved 800 insured individuals aged 25 and above, revealed that more than eight out of ten respondents were unsure about the efficacy of their current health cover due to soaring medical costs. The findings underscore the rising concerns regarding the sufficiency of health insurance amidst the growing financial burden of healthcare.
India recorded one of the highest medical inflation rates in Asia in 2021, at approximately 14 per cent. This was higher than other countries in the region, including China (12 per cent), Indonesia (10 per cent), Vietnam (10 per cent), and the Philippines (9 per cent).
Anup Rau, Managing Director and CEO of Future Generali India Insurance Company Ltd, commented on the launch of the new plan, saying, “Rising cost of medical treatment is a cause of concern for a vast majority of people in India, despite having a health cover. As Lifetime Partners to our customers, it is our endeavour to address these challenges by offering tailored solutions and adequately covering the Indian consumer. Our comprehensive health insurance offering, ‘Health Unlimited’, will ensure that our customers do not run out of cover even during the times of higher bills, irrespective of their sum insured getting exhausted.”
The newly launched ‘Health Unlimited’ plan aims to address these issues by offering unlimited restoration of the sum insured starting from the second claim. This feature provides full financial security without the worry of exhausting the coverage. The plan includes in-patient hospitalisation, day-care treatments, AYUSH treatments (covering traditional Indian systems of medicine such as Ayurveda, Yoga, Unani, Siddha, and Homeopathy), pre- and post-hospitalisation expenses, organ donor costs, and modern treatment methods.
Key Benefits of ‘Health Unlimited’:
- Unlimited coverage: Covers the full cost of claims, regardless of the sum insured, once in the lifetime of the policy and for any one claim.
- Inflation guard: Provides annual enhancement of the sum insured to safeguard against rising medical expenses.
- Premium payback: Offers a renewal premium discount in the fifth year, equivalent to the first year’s base premium, if no claims are made in the preceding four policy years.
- Unlimited refills: Refills the base sum insured unlimited times from the second claim onwards.
- Additional benefits: Includes wellness discounts, cumulative bonuses for every claim-free year, extra coverage for accidental hospitalisation, no sub-limits for services like cataract surgery, road ambulance, and LASIK procedures, and complementary health check-ups.
The launch of ‘Health Unlimited’ addresses the evolving needs of healthcare consumers and ensures more comprehensive coverage in the face of rising medical inflation.
