health insurance

Health-plus-life combo insurance in two months

(HINDUSTAN TIMES) - In about two months from now, you will have the option of buying an insurance product that combines a life insurance policy with one that covers a medical expenses.

With the Insurance Regulatory and Development Authority (IRDA) releasing guidelines for the “Health and Life Combi” products last week, the stage is set for a one-stop-shop arrangement with partnerships between life and non-life insurers.

Although several life insurance companies sell health insurance policies, these are mostly restricted to hospital cash variety where the insured is paid a lumpsum amount on contacting a disease.

Antony Jacob, CEO, Apollo DKV Health Insurance said, “We have already had preliminary discussions with five life insurance companies. In a week’s time, we hope to finalise the life insurance partner after which we will file the product with the IRDA.

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