Tata AIG General Insurance Company today announced the launch of their first domestic, lifetime renewable, reimbursement health insurance policy: MediPrime.

This innovative health insurance plan is a comprehensive offering with a unique set of features that distinguishes itself from the existing gamut of health insurance products currently available in the market. The introduction of MediPrime adds to the set of general insurance products offered by the company and has been designed specifically to cater to the retail consumer market in India.

Commenting on the launch of MediPrime, Gaurav Garg, MD and CEO, Tata AIG General Insurance Company, said, “We are proud to announce the launch of MediPrime, a product that has been designed specifically to meet the current requirements of the consumer and ensure that their needs from a health policy are met. Customer delight is an important pillar of our company values and MediPrime, with its strong customer service commitments and service initiatives, will provide our policyholders a wholesome experience.”

With the launch of MediPrime, Tata AIG General Insurance Company has imbibed numerous initiatives into MediPrime, to strengthen their customer focused approach. The company assures that all customers applying for MediPrime will receive a decision from the company within 24 hours notifying them of their acceptance and the suitable premium. Additionally, all cashless claims would be authorised within four hours on receipt of all documents, and claims would be settled in seven working days after completion of formalities.

Under MediPrime, a policyholder can avail the cashless hospitalisation benefit, which is currently available through a network of over 3,000 hospitals. The policy also provides added benefit of a family discount, wherein, a discount of 10 percent is allowed if three or more members of the family are covered under the individual plans.

Having structured and designed the product to suit customer needs, MediPrime comes with a set of unique features that sets it apart from others in the market. These include:

MediPrime provides a comprehensive set of benefits that every individual looks for in a health insurance policy such as cashless hospitalisation, domiciliary and 140-day care procedures without any sub-limits. It also extends coverage for pre- and post-hospitalisation expenses. Distinct features of the product include its lifetime renewability clause and its zero loading charges on renewal in case of a claim.

The product is available to individuals between the ages of 18 to 65 years and also offers the unique benefit of lifetime renewability for existing customers. The policyholder is entitled to tax benefits under section 80D of the Income Tax Act, 1961.

Other benefits of this product include:

Emergency ambulance expenses.