Tata AIG Life Insurance Company Limited (Tata AIG Life) became the first amongst life insurance companies in India to launch a guaranteed issue & return of premium health product - Tata AIG Life HospiCashBack. This is the latest health insurance offering that aides the customer to avail of the benefit of multiple claims against unforeseen hospitalization expenses while ensuring that the customer gets a guaranteed return of premium irrespective of claims.
It pays customer fixed benefits for expenses arising through hospital charges, care charges, ambulance charges and other expenses starting from the first day of hospitalization. It also offers a guaranteed return of premium as per policy conditions on maturity even if you make claims.
Speaking at the launch, Trevor Bull, managing director, Tata AIG Life Insurance Company Limited said, "Given the rising health care costs, it is imperative for every individual to have a means to protect his savings by covering all expenses related to hospitalization. The launch of Tata AIG Life Hospi CashBack is our endeavour to enable people to avoid the erosion of savings due to unforeseen incidents and resulting hospitalization. We are positive that the product, with its unique benefits will prove to be profitable and helpful for our customers."
Additionally by making this product available through our DM channel, the decision to invest in one's health with this apt product can now be done on the phone in a hassle free and quick manner.
The policy provides hospitalization cover against all new illnesses/accidents. It even covers pre-existing diseases after 24 months of continuous renewal. The customer also has a maturity option of return of premium, with 10 per cent of return of premium as guaranteed addition. A choice of coverage is also available with both a gold and silver version of the plan for anyone between the ages of 18-55 years for a fixed term of 15 years.
This easy to buy product will be sold exclusively through the Direct Marketing channel.