Bharti AXA Life Insurance, the private life insurance joint venture between Bharti Enterprises and AXA, the worlds largest insurance company, today forayed into the health insurance category, announcing the launch of Indias first triple benefit critical illness plan “Bharti AXA Life Triple Health Insurance Plan”.
Announcing the launch, Sandeep Ghosh, CEO, Bharti AXA Life Insurance, said, Health issues among youth have been on a rise in India. Around 35 to 50 percent cases of heart diseases are reported among people under the age of 50. While advancement in science has brought down deaths due to health issues, increasing cost of healthcare has become a point of concern.
Bharti AXA Life Triple Health Insurance Plan is a product unique to the Indian Market. Marking Bharti AXA Life entry into the health category, the plan offers cover of a maximum of three times the sum assured under the policy. It covers 13 critical illnesses that have been classified into three groups. On diagnosis of one of the illnesses, the policyholder can claim 100% of the sum assured under the policy, and is still covered for illnesses under the remaining two groups. Furthermore, on diagnosis, future premiums, payable by the policyholder, are waived off.
In case of being diagnosed with a critical illness, the family income is the first to be hit. While there are additional expenses in terms of medical costs, the policyholder income earning capability is also affected. Bharti AXA Life Triple Health Insurance Plan is designed to not only financially protect the policyholder, but also act as an income replacement in such trying times, added Sandeep Ghosh.