Reliance Life forays into health insurance

Reliance Anil Dhirubhai Ambani Group’s Reliance Life Insurance on Thursday announced it’s foray into health insurance market with the launch of a product for individuals and family members.

“Reliance Life Insurance forays into health insurance market with the launch of its first pure reimbursement health insurance plan — Reliance Life Care For You— for individuals and family members,” Reliance Life said in a release.

The policy term under this plan is three years with premium fixed for the entire period, irrespective of the claims. The plan offers sum insured of up to Rs 10 lakh. The company along with its third party administrators has created a preferred network of 6,000 hospitals, among the largest hospital networks offered by insurers, across the country to provide cashless hospitalisation benefit to the customers.

“Our venture into the health insurance sector is a natural extension of our life insurance business. Reliance Life Care For You is our first step in the pure health Insurance space, aimed to help people meet their health care exigencies and expenses at every stage of life effectively,’’ Reliance Life Insurance President and Executive Director, Malay Ghosh, said. The company aims to be among the top three health insurers by 2012.