ICICI Lombard's new travel insurance covers a host of other risks like political ones, catastrophic evacuation, emergency financial assistance, and home insurance cover besides medical insurance
Mumbai: Private sector general insurer ICICI Lombard has launched 'International Travel Insurance Plan' which provides overseas medical insurance, reports PTI.
"We have launched this product keeping in view that number of international travellers from India is increasing. Apart from medical insurance, this policy covers a host of other risks like political ones, catastrophic evacuation, emergency financial assistance, and home insurance cover," its vice-president for underwriting and claims Amit Bhandari said.
He also said the company has tied up with US-based healthcare provider United Health Care (UHC) to take care of bill settlement directly, along with cashless hospitalisation across a wide network of hospitals.
Total premium collected in travel insurance segment in the country stood at only Rs400 crore in the last fiscal.
ICICI Lombard is the largest private sector insurer which had a gross written premium (GWP) of Rs5,358 crore last fiscal.
Bajaj Allianz's Life Assure is a unit-linked endowment plan which also offers three riders, accelerated critical illness, super premium waiver and extra cover benefit for enhanced protection
Aviva Dhan Samruddhi gives a guaranteed addition of 7-9% per annum of the annual premium, till the end of the policy term, depending upon the policy term chosen