Future Generali has launched its ‘FG Gift of Health’ product, which will provide individuals with an insurance policy that can be gifted by anyone to support and secure people.
The Gift health insurance policy starts with a premium of Rs 501 and is available in two options, i.e., Future Hospicash and Accident Suraksha. This policy can be gifted to an individual as well as the family of the gift receiver i.e., receiver, spouse of the receiver and two dependent children (up to 25 years of age).
The company claims, through this offering, one can gift this policy to anyone to support and secure people who matter to them, be it the support staff, domestic help, friends, extended family, or even members of an NGO.
The gifting of an insurance product has now been made possible via IRDAI sandbox regulations.
Ruchika Malhan Varma, Chief Marketing Officer, Future Generali India Insurance says, “‘FG Gift of Health’ has several unique features to ensure that the benefits of insurance can reach all segments of the society. Depending on the product chosen, the policy will cover incidental expenses during hospitalization by providing daily cash benefit and/or lump sum benefit in case of accidental injuries leading to disabilities/death. Once they realise the financial help and security that insurance offers, they are likely to consider renewal which will help us in deepening insurance penetration in the country.”
Future Hospicash covers incidental expenses in case of hospitalisation and offers a fixed benefit for each day of hospitalisation, irrespective of the actual medical cost. Accident Suraksha provides beneficiaries with a lump sum amount in case of accidental injuries leading to disability/death.
Further, an additional discount of 10 per cent on the total premium can be leveraged if both the plan options are being bought for the benefit of the same individual. There is no medical examination required for obtaining insurance cover under this policy.