HDFC Standard Life offers health savings plan

HDFC Standard Life is planning to launch a health savings plan next fiscal. The company is eying a premium income of Rs 50 crore from health insurance by the end of next fiscal. This fiscal the company is eying a premium income of Rs 20 crore from the segment.

The health savings plan would consist of a build-up health fund for the entire life time of the person insured, along with an illness cover up to a specific time period, said Frederick D'Souza, senior vice president--health, HDFC Standard Life, at a press conference in Kolkata on Tuesday.

This will be the third health plan of the company, which forayed into health insurance market last year.

The company is yet to submit the plan to the Insurance Regulatory and Development Authority (IRDA) for approval.

HDFC Standard Life on Tuesday launched its second health insurance plan, called the HDFC SurgiCare. The plan offers flexible premium payment options, and covers life for a maximum 20 years , and a minimum of seven years. The minimum and maximum age at entry are 18 and 50 years respectively. The maximum age at expiry is 65 years.