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Liberty Videocon launches 'Health Connect Supra'

Friday, December 23, 2016
By Dominic Rebello

“We are going to expand our retail health product portfolio and this product is our next offering in this direction. We have designed this product to enhance and top-up the health insurance needs of the customer and his family by providing a larger coverage for affordable premium. With great flexibility, additional discounts and uninterrupted covers, this product makes the perfect companion for an individual and her family to cover their health insurance needs for a longer tenure,” said Roopam Asthana, CEO and Whole Time Director, Liberty Videocon General Insurance at the launch of a super top-up health insurance plan ‘Health Connect Supra’ in Mumbai yesterday.

Liberty Videocon General Insurance Company, one of the fastest growing general insurer launched this product with a aim to target the self employed masses in Tier II and Tier III cities across India.

“Our focus is on health insurance as it is highly under penetrated. The health portfolio comprises 20 cr and we soon plan to take that up to 100 cr,” said  Asthana.

'Health Connect Supra’ is a unique offering with two variants, top-up plan and super top-up plan that provides additional coverage of up to Rs. 1 crore to the customer’s basic health insurance cover. It offers additional features which enhance customer’s existing health insurance policy coverage at an attractive premium. It provides flexibility in sum insured and deductible options to suit the customer’s requirements. With multiple tenure period, this product offers additional discounts and uninterrupted covers. Additionally, it offers emergency worldwide cover, which protects the customer even when she is overseas, reload of sum insured, coverage for ayush treatment and wellness assistance coverage as add on coverage on payment of affordable premium.

The product offers an ‘Individual Cover’ or a ‘Family Floater Cover’. The customer can not only customise the policy to include his family members such as spouse, children, parents, parents-in-law, but by doing so, she can also avail a family discount. This  policy offers assured policy renewal lifelong without exit age. The customer can also avail tax savings U/s 80 D of the Income Tax Act for premium paid.

Rubbishing reports of Videocon exiting the JV with US based Liberty Mutual Insurance Group, Asthana said the company has a paid up capital of 984 crore of which the foreign partner infused 305 crore in the recent past. The company is growing faster than the industry average and we plan to increase the percentage of health insurance from 13% to 26 to 27%in the next couple of years, he said.

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