Smart Money

Updated: Dec 28 2012, 05:44am hrs
Chola MS Tax Plus Healthline Policy

Cholamandalam MS General Insurance Company has launched Chola Tax Plus Healthline Insurance Policy, which offers coverage under two sections hospitalisation and OPD treatments. The hospitalisation section works like a regular indemnity health insurance policy covering hospitalisation due to amy illness, 60-day pre-and 90-day post-hospitalisation expenses, ambulance expense, organ donor treatment expense and 141-day care procedures that does not require 24 hours hospitalisation. The OPD section covers all expenses incurred on healthcare like doctors fee, vaccines, spectacles, dental expenses and medicines taken as an outpatient. Treatments taken in alternate streams like ayurveda and homeopathy are also covered. One can avail tax exemption of up to R35,000 on the premium paid under Sec 80(D) with R15,000 towards premium for self, spouse and children and an additional R20,000 towards premium for parents over 60 years of age. The maximum entry age for this policy is 65 years.

Future Generali ties up with IFMR Rural

Future Generali India Insurance Company has tied up with IFMR Rural Finance, Chennai, to offer its Shop Insurance products through their Kshetriya Gramin Financial Services (KGFS) licensees. This partnership will help Future Generali to offer its products through the existing 125 KGFS branches in Tamil Nadu, Uttarakhand and Orissa. Shop insurance would cover building and contents against risk of fire and special perils like flood, storm, earthquake, etc.

Axis Bank launches e-Gift Card

Axis Bank has launched Axis Bank e-Gift Card, an online gift card. The card offers customers an alternate channel through which they can buy a gift card for their dear ones. The facility of e-Gift Card can be availed at where a customer can buy and send a card of his choice by either e-mailing or SMS. Domestic customers can purchase these online e-Gift Cards using their credit/debit card issued by their respective bank. Transactions will be limited to sites that support verification by Visa and MasterCard Secure Code for two-factor authentication.

Canara HSBC OBC Lifes key document

Canara HSBC Oriental Bank of Commerce Life Insurance has launched a Key Information Document, a single-page document that summarises the key benefits of a product and provides a snapshot to customers in simple language and format. It also highlights the importance of disclosures by customers. The document is introduced as part of the sales process and will help customers understand the most important features and conditions of the finalised insurance product. It is available in English and Hindi. Says John Holden, chief executive officer, Canara HSBC Oriental Bank of Commerce Life Insurance, The introduction of the document reiterates the company's commitment to customer centricity and customer education. This initiative is an effort in making life insurance purchase more transparent.