Bangalore- based Jubilee Roentgen Health Shield Pvt. Ltd (JRHS), a third-party administrator or an intermediary of the General Insurance Corporation (GIC) has announced a 'one time payment-lifetime health insurance' scheme.

Claimed to be the first of its kind in the country, the scheme allows the insurer (depending on his capability) to invest a one-time payment, which is deposited into a fixed deposit as a joint account with JRHS in any of the public sector banks.

The insurer cannot withdraw the amount nor could claim the interest. But the deposit is refundable immediately. The special package for the scheme is arrived through a specific formula, where the insurance cover is worked out according to the age and a detailed study of the health index where the various risks for diseases of the insurer are taken into consideration, Dr. V Visweswariah, head of JRHS told Pharmabiz.com.

This follows the success of its earlier policy where members of JRHS could avail the total benefits of Mediclaim policy of GIC. A person could seek membership on payment of Rs 2,500. His dependents could become members for Rs 1,500.

After the membership or the 'health shield' is sought, they are provided with a free, comprehensive master health check plan. A complete detail of health record is maintained which doctors and hospitals anywhere in the country, registered under GIC could avail information of the insurer's health records at any time.

"Members of the health shield who opt for health insurance linked to Mediclaim have quick and easy access to reimbursement as JRHS mediates between the hospital for insurer and pay the bill. Thereafter, JRHS works towards speedy recovery of the compensation, explained Dr. Visweswariah.

JRHS has currently 10,000 registrations of both individuals and corporates and has several hospitals in the city affiliated to the

Mediclaim health insurance plan.

Dr. Visweswariah said that the present health insurance claim has several complaints. One of them being the need to settle hospital bills first and claim the reimbursement later. The role of JRHS as an intermediary was to plug in the gaps and make it more professional and useful for the insured. JRHS has the policy extended for not only inpatients but outpatients also.

The 'one time payment-lifetime health insurance' scheme allows a lifetime Mediclaim health insurance that is offered by Oriental Insurance, a subsidiary of GIC. Dr. Visweswariah said that the premium was absorbed by JRHS and even bank loans are procured wherever necessary for those interested in joining the scheme.

JRHS issues photo identity card to its members, which allows them to seek admission at the specified hospitals without making initial deposits. "During discharge time all payments which are admissible by GIC are settled by us," informed Dr. Visweswariah. The cardholders can also get discounts at most clinical laboratories. JRHS is working out modalities with opticians, dentists, physiotherapists and health clubs for the cardholders to get a benefit.

Dr. Visweswariah who is a retired radiologist also heads the Jubilee Pathology Centre, Jubilee X-ray Institute and the Jubilee Ultrasound Centre, which were incepted in 1950.

JRHS is awaiting the ISO 9002 certification approval and has plans to extend the facility of 'one time payment-lifetime health insurance' to New Delhi, Mumbai, Chennai, Ahmedabad and Calcutta. Although there are several intermediaries in the business of health insurance, the Insurance Regulatory and Development Authority (IRDA) has streamlined extensive procedures for intermediaries in health insurance to qualify. "JRHS has been approved by the IRDA as a serious player in the segment,"

added Dr. Visweswariah.