The announcement was made by Dr. P. Nandagopal, Managing Director & CEO, IndiaFirst Life Insurance. "The unique proposition of this plan is that it offers a comprehensive health cover for the entire family along with the investment flexibility to grow wealth by investing in different funds under a single plan," said Dr. Nandagopal.
A substantial part of the premium paid is actually credited into the policy account and this money is invested in various funds as per the policy holder's choice to get them optimum returns. This money accumulates in their account and comes back to them at the end of the policy. What's more, they can also use this amount anytime if they need to cover hospital expenses that are beyond the insurance limits or not payable under this policy.
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"Customers are better off saving for Health, long-term health plans are better than short term ones, customers want better service delivery - are the three key insights on which we have built the IndiaFirst Money Back Health Insurance Plan," said Dr. Nandagopal.
Speaking on the key differentiator of the product, he added, "Our Money Back Health Insurance Plan is the most convenient one to use in case of claims. Not only is it cashless in over 4956 network hospitals, you just need to swipe your Health Card like you do for your credit card and our Call Center will instantly authorize the payment after checking the eligibility . This is the first of its kind facility offered in India and will be most convenient for customers in case of medical emergencies".
The plan is a long term plan for 5 or 10 years and offers dual tax benefit of Section 80C and 80D, under the current tax laws.
The IndiaFirst Money Back Health Insurance Plan offers the convenience of cashless treatment, cover for 195 day care procedures, re-imbursement of medical expenses for 30 days pre and 60 days post hospitalization, cover for the entire family (spouse, two children and two dependent parents) under one plan.
The plan is available across 4500 Bank of Baroda and Andhra Bank outlets with the policy being issued within just 3 minutes for instant coverage. It is also available online on LifeStore - www.indiafirstlife.com.