The world’s largest bicycle maker Hero Cycles on Monday said it is in talks with insurance firms to provide health cover to its rural customers as part of its initiative to uplift the poor.
The company, which has tied up with Allahabad-based Sonata Finance for financing bicycle by providing loans of Rs 100 per week in rural areas, is considering to pay health insurance premium for the poor customers on purchase of the company’s bicycles.
“About 500 million people in India cannot afford to buy a bicycle. We want to give them mobility and for that we have tied up with a micro finance firm to offer Loans. Now, we want to secure their lives,” Hero Cycles Managing Director Pankaj Munjal told PTI.
Without sharing details, he said the company is currently talking to one public sector and one private sector health insurance provider to tie up for this purpose.
When asked if the company would also pay the premiums for the insurance products, Munjal said: “These are very poor people of our country. Though we have not decided yet, we may do something for paying the premiums for the poors.”
The company will introduce the health insurance services from next month onwards, he added.
“Hero Cycles want to contribute with its limited strength by giving them a sense of security. These people will be given health insurance policies when they come to buy our bicycles,” Munjal said.
Hero Cycles’ mass-level bicycles are available between Rs 1,800 and Rs 3,000 through about 2,400 multi-branded dealerships across the country. Out of its total sales of 53 lakh units last fiscal, 65 per cent came from the rural areas.
Even as the company is focusing on the rural market, it is not ignoring the premium segment bicycles market.
Last week Hero Cycles had said that it will foray into the premium segment by launching products in Rs 3,000-Rs 20,000 range by November this year and will set up exclusive outlets for selling them.
The company is setting up a dedicated unit for Rs 50 crore to roll out the premium cycles at Ludhiana. The facility will have a capacity to produce five lakh units annually. The existing plant rolls out 19,000 units every day.
It is also scouting for partners in the US, Germany, Japan and the UK to export the cycles under a contract manufacturing deal. The company at present exports a small quantity to Spain, African region and Poland.
Hero Cycles is aiming at pushing up its revenue to over Rs 2,000 crore in 2011-12 from Rs 1,650 crore in last fiscal.
Source: Economic Times
Reliance Health Insurance is a healthcare company and deals with products related to Health insurance. Reliance provides you with affordable solutions for insuring health and various health plans. Reliance Company of Anil Ambani’s group is the second insurer company in India to offer health policies and products.
Reliance offers you all the financial support that you need in case of your treatment for any illness and ensures that your hard earned money is preserved in such vital situations. Depending upon the type of policy selected, reliance health insurance Company includes coverage for Hospital charges, medical tests, medicines, appliances, doctors and nurses. Reliance also covers critical illness as a part of your health insurance policy which is not covered by most of the health insurance companies.
reliance life insurance provides coverage for individuals between the age group of 5 years to 75 years. Children below 5 years are automatically covered if both the parents are covered. Some Reliance policies also provide maternity benefits. It also provides a Group mediclaim Hospitalization Policy through which more that 50 persons can be insured at a time.
Family Floater policy by Reliance provides protection to your family members under one policy. Reliance health insurance also provides cashless facility for 24 hours at more than 2800 network hospitals. A double sum is provided separately as soon as the listed critical illness is diagnosed.
Health Insurance does not provide coverages for HIV or AIDS, dental treatment, Suicide, mental disorder and so on. Hospitalization due to nuclear weapons, war or terrorism is also not covered by Reliance Health insurance policy.
ICICI Lombard ‘Critical Care’ gives you your favorite coverage on both the sum insured and the term of the policy. You can select the sum insured of Rs 3, 6 or 12 Lakhs over a period of 1, 3 or 5 years. The premium would vary respectively.
The policy renders lump sum benefit on treating any of these 9 Critical Illnesses below-
Major Illness Covered by icici lombard:
- Kidney Failure- Yes
- First Heart Attack- Yes
- Stroke- Yes
- Multiple Sclerosis- Yes
- Coronary Artery Bypass Surgery- Yes
- Heart Valve Replacement Surgery- Yes
- Cancer- Yes
- Paralysis- Yes
- Major Organ Transplant- Yes
Key Benefits of ICICI Lombard Critical Illness Policy:
- Complete Cover – Lump sum benefit on diagnosis of any of 9 Critical Illnesses.
- Tax Benefit under section 80D of Income Tax Act.
- No health check-up required.
- Benefit paid as soon as diagnosis is complete.
Apollo Munich Easy Health Premium is a best health insurance for individuals and families. It covers insured for medical expenses due to any sickness and accidental injuries.
The policy covers hospitalization expenses including room rent, boarding expenses, surgeon fees, specialist fees, anesthetists fees, medical practitioner, operation theatre charges, ICU charges, nursing expenses, cost of blood, oxygen, medicines, diagnostic expenses, surgical appliances, pacemaker, etc.
The pre and post hospitalization expenses are covered up to 30 days prior and 60 days after hospitalization. Also, the medical expenses are covered for 140 day care procedures, which do not require more than 24 hours of hospitalization due to advance technological treatment.
The Easy Health Premium also comes with unique features such as cash credited on daily basis on choosing shared accommodation, daily cash for accompanying an insure child, maternity expenses, cost of health check up, spectacles, contact lenses, outpatient dental treatment, etc.
The policy also offers optional cover for critical illness and sum insured can be 50% or 100% of basic sum insured.
The policy is available on cashless basis. The cumulative bonus of 10% is provided for every claim free year, subject to a maximum of 50% of the sum insured. The premium paid is eligible for tax benefit under section 80D of the Income Tax Act,1961.
This policy is issued for 1 year for the sum insured ranges of Rs.4Lakh, Rs.5Lakh, 7.5Lakh and Rs.10Lakh. The policy can be renewed for lifetime.
Reliance Health Insurance offers better health coverage at very affordable rates. This is one of cheapest health insurance in the market that suits to every customers budget.
reliance health insurance covers the insured person for following medical expenses for any sickness and injury.
Hospitalization Cover- It covers in-patient hospitalization expenses such as room rent, boarding expenses, operation theatre charges, ICU charges, doctors fees, surgeon fees, specialist fees, nursing expenses, cost of medicines and drugs, blood, oxygen, medical test, surgical appliances, etc.
Pre and post Hospitalization- It covers the medical expenses for a specified period of time before and after hospitalization.
Domiciliary Hospitalization- The medical expenses are covered for the treatment taken at home, when the insured person can not move to the hospital or due to lack of accommodation at the hospital.
Day Care Treatment- It covers advance technological treatments/surgeries, which do not require 24 hours of hospitalization.
Value Added Benefit- The value added benefit is provided depending on the plan selected by the customer. It includes nursing allowance, accompanying persons expenses, emergency ambulance charges, cost of health check up after four claim free years, etc.
Tax Benefit- The premium paid by cheque is eligible for tax benefit under section 80D of the Income Tax Act,1961.
Apollo Munich medical insurance is one of the best option available in the market. It offers wide range of coverage option at very affordable premium rates.
Apollo Munich offers various health insurance to the individuals, families and corporate groups. It includes Easy Health insurance, Insure Health and Maxima. These plans can be renewed for lifetime. Easy health insurance comes in three different variants-Standard, Exclusive and Premium. Insure Health and Maxima are in the category of comprehensive health insurance policy. These plans provides complete protection to the customer for their healthcare needs.
These plans covers the insured person for in patient hospitalization, pre and post hospitalization, domiciliary hospitalization, day care procedures, organ donors treatment and other related expenses. Ayush benefit covers the medical expenses for in-patient Ayurveda, Unani, Sidha and Homeopath treatment.
Apollo Munich offers the benefits such as cashless hospitalization service at over more than 4000 network hospitals across India. Also, the cumulative bonus is offered on every policy renewal for every claim free year. The premium paid is eligible for tax benefit under section 8OD of the Income Tax Act,1961.
Also, there are value added services like healthline and health risk assessment tool. It helps to add extra cushion on existing health insurance.
Medi Classic from Star Health insurance is one of the best health insurance in the market. It takes care of your all hospitalization expenses incurred as a result of any sickness, diseases or accidental injury.
The policy covers the insured person for in-patient hospitalization expenses for a more than 24 hours of hospitalization. It includes room rent and boarding expenses (up to 2% of the sum insured, subject to a maximum of Rs.4000/- per day), nursing expenses, surgeon fees, consultant fees, specialist fees, anesthetist fees, operation theatre charges, medicines, drugs, etc. It also covers the ambulance charges for transporting the insured person to the hospital, subject to a maximum of Rs. 750/- and overall limit is up to Rs.1500/- per policy period.
Pre hospitalization expenses are covered up to 30 days prior to hospitalization. A lump sum calculated at 7% towards hospitalization expenses, subject to a maximum of Rs.5000/-. The cover is also provided for non allopathic treatment up to Rs.25,000/- per case, subject to a maximum of 25% of of sum insured per policy period.
The optional benefits are available on payment of additional premium. The benefit includes daily hospital cash, patient care, new born baby cover ,etc.
The policy provides no claim discount ranging from 5% to 25% for every claim free year. Premium amount is eligible for tax benefit under section 80D of the Income Tax Act,1961.
This policy can be taken on an individual basis and for family. Any individual age between 5 months and 80 years can opt for this insurance. The sum insured ranges are Rs.50,000/- to Rs.10,00,000/-.
Chola MS Family Health is a complete health insurance product for your entire family. It takes care of the medical expenses of your all family members for any sickness/illness and diseases.
The policy covers hospitalization expenses including room rent, boarding expenses, nursing expenses, doctors fees, operation theatre charges, ICU charges, cost of medicines and drugs, anesthesia, blood, oxygen, x-ray, organ transplant, etc. The policy also covers pre and post hospitalization expenses for 60 days and 90 days respectively. Pre-existing diseases are covered after three continuous claim free year.
Under day care procedures, the policy covers over 141 surgeries which requires less than 24 hour of hospitalization. The cashless hospitalization service is provided in more than 1300 hospitals across India.
TATA AIG Criticare provides you an insurance benefit cover for following 11 critical illnesses and surgeries. They are-
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First Heart Attack
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Cancer (excluding Skin Cancer)
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Stroke
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Coronary Artery Surgery
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Kidney Failure
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Major Organ Transplant
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Total Blindness
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Coma
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Major Burns
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Multiple Sclerosis
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Paralysis
It provides lump sum benefit up to Rs. 15,00,000/- on diagnosis of any mentioned critical illness in the plan. It also offers you unique opportunity to take a second opinion on your illness, from a panel of exports doctors in USA.
Tax Benefit-
Premium paid for insurance (up to Rs.10,000/-) is eligible for tax benefit under section 80D of the Income Tax Act,1961.
Eligibility-
Available for the people aged between 18 and 60 years. The renewal is permitted up to 64 years.
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healthcare Plus is a supplementary health plan that can be taken with any other health insurance schemes. With regular hospitalization expenses, it also provides incidental expenses like food, commutation by your family members.
Key Benefits:
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Sickness Hospital Cash- Takes care of all hospitalization expenses for the sickness. Available in ranges of Rs.500/day, Rs.1000/day, Rs.2000/day, Rs.3000/day and Rs.5000/day.
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Accidental Hospital Cash- Takes care of incidental expenses while in hospital due to accidents. Available in the ranges of Rs.1000/day, Rs.2000/day, Rs.4000/day, Rs.6000/day and Rs.10000/day.
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Accident Medical Expense Reimbursement- Takes care of reimbursement of day to day medical bills for accidental injuries. Available in the ranges of up to Rs.5000,
Additional Features-
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Option to choose from 5 different level of protection.
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Option to cover spouse and two dependent children’s.
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Premium paid is eligible for tax benefit under section 80D of the Income Tax Act,1961.
Eligibility Criteria-
Available for the people aged between 18 to 59 years and 364 days. (Dependent children between the age of 6 months and 23 years)
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