As part of meeting specific needs of consumers, ICICI Prudential Life on Monday (5^th January) launched Health Saver, to help consumers meet their current healthcare expenses and also invest for future healthcare expenses.

 

Health Saver is the first of its kind reimbursement-based hospitalization cover with the benefit of a health savings fund. Mr Minoo Ratan Sinha, Assistant Vice President of the company told the reporters.

 

Mr. Sinha also added that the product is designed to enable consumers cope with the ever rising cost of healthcare. In addition to this Health Saver allows claims against out-patient treatment, diagnostics and dental care amongst others after three years, Mr Sinha said.

 

On key benefits, Mr Sinha said that Health Saver has the guaranteed coverage up to age 75 for the person and his family against medical expenses incurred due to hospitalization and also coverage against pre-existing illness and conditions after two years subject to acceptance of the company.

 

This is the only health savings product offering tax benefits under section 80D on the entire premium paid, he said. Stating that customers could select annual hospitalization cover limit for the family and a suitable premium, he said the product provided comprehensive cover by allowing reimbursement for health expenses not covered by the hospitalization benefit after three years