ICICI Lombard Partners with Flipkart to Offer Hospicash Benefit
Flipkart has partnered with ICICI Lombard to offer Group SafeGuard insurance, a group insurance policy to its consumers.
Compared to standard life care indemnity insurance plans, SafeGuard Category is a profit offering that allows consumers to pay for each day of hospitalization.
The set monthly limit allows customers to pay for incidental medical or emergency costs. Insurance is inexpensive, paperless and flexible; protects both unintended hospitalization and scheduled surgery/treatment.
According to the report of the Union Ministry of Statistics and Program, the direct total out-of-pocket expenditure for hospitalization in India ranges from Rs 4.452 to Rs 31.845 per person, while the average loss of income due to hospitalization is estimated at Rs 8.164 per day.
The Hospicash benefit offered by ICICI Lombard provides customers with an annual allowance to offset all out-of-pocket expenses-whether its isemergency care expenses, travel, post-discharge costs or coverage for loss of income through hospitalization.
Over the past year, Flipkart has been involved in life, family, auto and cyber insurance coverage through collaborations with some of the country's leading insurance service providers.
Details of Hospicash Benefit
Daily Cash Benefit - Rs. 500 to Rs. 2,000 per day
Inclusions - Accident and illness-related hospitalization
Sum insured - Rs 500, Rs 1000, Rs 1500, Rs 2000 per day (lump sum benefit on hospitalization - cover for up to 90 days of hospitalization)
Hospital network - More than 6,500
Health Claim Ratio - 99.87%*
Waiting Period - 30 Days
Minimum hospitalization - 24 hours
Ranjith Boyanapalli, Head - Fintech and Payments Group, Flipkart, said, " With hospicash benefit, consumers can now safeguard themselves against overhead charges which can often result in an unnecessary drain of savings. We aim to keep offering industry-best insurance options on our platform to make our consumers' journey simplified, and keep them better informed."
GoodReturns.in