AEGON Religare Life Insurance (ARLI) Launches a Fixed-Benefit Health Plan

Tuesday, July 20, 2010

AEGON Religare Life Insurance (ARLI) today announced the launch of its fixed-benefit health insurance plan called AEGON Religare Health Plan. This plan offers several unmatched benefits such as coverage of all surgeries, guarantees payment in case of claims and cashless facility in over 3,000 hospitals.

Speaking on the occasion of the launch of AEGON Religare Health Plan, Mr Rajiv Jamkhedkar, Chief Executive Officer & Managing Director ­­­­­of ARLI said - “Medical expenses, whether related to hospitalization or medication, are rising continuously making Health Insurance a must. However it is also critical to have certainty of payout which is where a comprehensive fixed benefit plan plays a very important role as this tends to remove the surprise element from claims. This provides transparency as well as certainty to the customer. Keeping this in mind we have launched the AEGON Religare Health Plan that provides comprehensive coverage and fixed benefits. This is a reiteration of our core strategy of being customer-centric both in terms of products as well as service and overall experience. The plan is distributed through our regular channels and is also available online.”

The AEGON Religare Health Plan offers the following unique benefits:

  1. It covers all kinds of surgeries including 240 day care treatments and 10 critical illnesses.
  2. It guarantees a fixed amount of money, irrespective of the actual hospital bill.
  3. It guarantees an amount in addition to the payment received from other medical plans.
  4. The customers can get cashless facility as well as the comfort of knowing the amount they are entitled to well in advance. This ensures no heartburns or anxiety at the claim stage. In other words, there will be No Surprises. The Cashless facility is provided in more than 3,000 key hospitals across the country.
  5. It guarantees a fixed premium rate for 3 years. i.e. incase of a claim in the first or second year, the premium will not increase. 
  6. The benefit amount increases by 10% for every no claim year (the maximum increase will be capped at 50%).
  7. 24-hour hospitalization is not required for most of the surgeries.
  8. Guaranteed renewability till the age of 85.

The various benefits one can avail of are, Daily Hospitalisation Cash Benefit (DHCB), Intensive Care Unit Benefit (ICUB), Surgical Cash Benefit (SCB) and Critical Illness Benefit.

The minimum entry age required is 18 years and maximum being 70 years for the primary and secondary life insured for a policy term of 15 years for a regular premium and 3 years for a single premium. 

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