CignaTTK Health Insurance launches global group health cover

Saturday 04, October, 2014 CignaTTK Health Insurance has launches global group health cover Should you opt for a high-value health cover? CignaTTK Health Insurance launches operations Don't wait to buy health cover Suicide prevention a health priority: Health Minister Universal Health Assurance Programme to cover mental health CignaTTK Health Insurance has launched a global flagship product in India, as a part of its group product. The product, called the CignaTTK Global Health Insurance, offers a sum insured of between Rs 50 lakh and Rs 12 crore. The product gives employers the liberty to purchase the policy in Indian rupees and claims in respective local currency. The existing policies from other domestic players are a mix of travel and health insurance policies which need to be purchased in US dollars. Sandeep Patel, CEO, CignaTTK Health Insurance said that this product is a global expat plan from India. “The expat plans offered are by international insurance companies with either no or limited access to Indian market. This product will also be cheaper than the other expat plans offered by international players,” he said. Patel said that this product is suitable for companies, Indian or otherwise, who have employees across the world and is designed for employees who keep travelling on a regular basis. This plan covers the employee in the home country, India and anywhere in the world depending on the geographies chosen in the cover. It also covers the employee, his/her wife/husband or live-in partner/fiancée and dependent children upto the age of 25. The minimum number of employees included in the group plan is 10 and it is a yearly renewal policy. Patel explained that while there are policies covering health expenses when one is travelling abroad, Cigna's product covers not just emergency and critical illnesses, but also other ailments and health check-ups done in other countries. The Policy is available in both deductible and co-pay options and policy holders can claim for dental, vision treatment too. Co-pay means that the insured pays some out-of-pocket expenses when they receive the services while insurer pays the rest. Deductible is the fixed amount one pays before the policy benefits come into force. The product has a 30 day emergency cover beyond the area of coverage. Patel explained that terrorism and catastrophe related medical conditions are excluded and not covered under the policy. “In a crisis situation, policyholders under a group can rely on our emergency assistance services. For instance, if there is an epidemic, we will stabilise the person and get them back to the home country,” said Patel. The Policy offers two plans – Ruby and Diamond. Ruby has sum insured options of Rs 50 lakh and Rs 2.5 crore, while Diamond plan offers sum insured option of Rs 1.5 crore, Rs 3 crore, Rs 4.5 crore, Rs 6 crore, Rs 9 crore and Rs 12 crore.

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