HDFC ERGO, a private general insurer, has expanded its health insurance portfolio with the launch of "Group Critical Illness Insurance" policy.
This is an insurance policy that covers the entire family or employees under one umbrella of protection.
Unlike a regular health insurance policy where the insured makes a claim based on the actual expenses incurred on hospitalization, the Group Critical Illness Insurance pays a lump-sum amount to the insured on diagnosis of listed critical illness covered under the policy.
HDFC ERGO Group Critical Illness Insurance policy is an extension of its existing critical illness insurance policy, according to a company release.
Commenting on the new product, Anurag Rastogi, Head Retail Underwriting & Claims, HDFC ERGO General Insurance said: " Our new Group Critical Illness Insurance is one such product that provides financial protection to entire family or employees against potential financial liabilities arising out of critical illnesses, which requires specialised treatment for an extended period of time".