Bajaj Allianz Unveils Cashless Health Product

Bajaj Allianz General Insurance has launched Health Guard insurance policy, which offers cashless hospitalisation benefit to policyholders. Under the scheme, a policyholder does not have to pay upfront for hospitalisation expenses.

K G Krishnamurthy, Bajaj Allianz head of underwriting, said: "Our product is better than that of Mediclaim from the New India Assurance Company as policyholders need not have to pay hospital bills, as this will be a cashless product."

Policyholders below 40 years would pay 5-10 per cent less than the premium demanded by state-owned insurance companies.

However, in the case of those above 40 years, the premium is 5-10 per cent more.

An additional feature of Health Guard is that it offers to cover pre-existing diseases from the fifth year onwards if the policy is continuously renewed for four years with Bajaj Allianz.

Bajaj Allianz has operations across 30 cities. The product has been launched in Maharashtra, Goa, Gujarat in the first week of July and is being launched in the south in Bangalore, Chennai, Hyderabad, Hubli, Kochi, Thiruvananthapuram, Coimbatore and Madurai. It will be launched in the north and east in the third week of the month.

Bajaj Allianz also offers other health insurance products like critical illness and hospital cash.