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L&T Insurance launches my:health Medisure Classic Insurance
~ An affordable health insurance policy that offers a unique combination of thoughtful features to customers ~

Kolkata, October 30, 2012: L&T Insurance announced today the launch of my:health Medisure Classic Insurance, its competitive health insurance policy. my:health Medisure Classic Insurance is a meticulously designed insurance solution that provides a unique combination of thoughtful features at an affordable price. This flexible and configurable product precludes the customer’s need to look for more than one product to cover his health costs without increasing his financial burden.

Speaking at the launch, Mr. Joydeep Roy, CEO & Wholetime Director, L&T Insurance said, “my:health Medisure Classic Insurance policy offers flexibility at the entry age enabling customers to buy the policy at any age during their life stage. Besides providing financial assistance during times of need, if during the term of the Policy, the entire sum insured gets used up and there is a subsequent hospitalization due to an accident, the sum insured of the policy will be reinstated. We have cashless hospitalization available across the country with a Service Assurance of making cashless decision within 6 business hours and reimbursement of claims within 6 working days. On failure to meet with the Claims Service Assurance, we shall pay a fixed compensation of INR 1000. At L&T Insurance, we understand individual needs and propose affordable health insurance policies accordingly. We are committed to developing and providing an exhaustive range of health insurance products to suit different needs of customers.”

Optional covers can also be added on payment of additional premium to empower the customer by allowing him to choose as per his requirements:
  • Double Sum Insured for treatment of a critical illness
  • Waiver of  Room Rent Sublimits
For e.g. The policy is not constrained by any sub-limits on the amount that can be spent under room rent. Further, the sum insured also doubles on diagnosis of the specified critical illnesses.
My:health Medisure Classic Insurance also offers key benefits like Cover for pre-existing diseases after 3 years of continuous cover, maternity and new born baby cover, cover for day care procedures, lump sum recovery benefit, free comprehensive health check-up at the end of 4 continuous claim free years and option for a 2 year policy.
Mentioned below is an illustration of the premium rates for my:health Medisure Classic Insurance

Illustration: Individual
Scenario I: With Optional Cover on ‘Waiver of room rent sub-limit’
An Individual of 35 years of age can avail of Base Cover of INR 2 lacs for a premium of INR 2,516. However, if he decides to add on the ‘Waiver of room rent sub-limit’ optional cover, he will have to pay an additional amount of INR 717. The total annual premium with the addition of this option will be INR 3,233.
Scenario II: With Optional Cover on ‘Double sum insured for critical illness’
An Individual of 35 years of age can avail of Base Cover of INR 5 lacs for a premium of INR 4,481. However, if he decides to opt for ‘Double sum insured for critical illness’ as well, he will have to pay an additional nominal premium of INR 100. On diagnosis of any of the 9 specified critical illnesses, the sum insured limit will double i.e. INR 10 lacs, in case the individual undergoes a treatment.  The total annual premium with the addition of this option will be INR 4,581.

Illustration: Floater – 2 Adults and 2 Children
Scenario I: With Optional Cover on ‘Double sum insured for critical illness’
A family of 2 adults and 2 children, with the oldest member of the family being 35 years of age, can avail of Base Cover of INR 5 lacs for a premium of INR 11,927. An additional nominal premium of INR 286 would apply for the option cover on ‘Double sum insured for critical illness’. On diagnosis of any of the 9 specified critical illnesses, the sum insured limit will double i.e. INR 10 lacs, in case the family member undergoes a treatment. The total annual premium with the addition of this rider will be INR 12,213.
my:health Medisure Classic Insurance would be available nationally through the network of L&T Insurance advisors and distribution partners along with 24 X 7 Claims Assistance.
* All figures quoted above are in INR and exclusive of Service tax.

For more details, kindly refer to the Annexure sheet attached with the Press Release.

About L&T
Larsen & Toubro is a USD 12.8 billion technology, engineering and construction group, with global operations. It is one of the largest and most respected companies in India’s private sector. A strong, customer – focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business over seven decades.

About L&T Insurance
L&T General Insurance Company Limited (L&T Insurance) is a wholly owned subsidiary of Larsen & Toubro Limited. The Company provides a complete range of Retail and Institutional insurance solutions catering to the needs of Individuals, Small and Medium Enterprises and Corporates across urban and rural India.

To know more call Toll-free No.: 1800-209-2020 or Visit us at www.hdfcgi.com

ANNEXURE – FEATURES OF my:health MEDISURE CLASSIC INSURANCE

  • Entry at any age
  • No medical tests for age up to 50 years in case of no medical adversity
  • Renewals are available for Lifetime: It can be renewed for lifetime of the policyholder.
  • Replenishment up to sum assured for accident related cover: If the sum insured is exhausted, it gets replenished up till sum insured in case of hospitalization due to an accident, once during the 12-month Policy Year
  • Service Assurance: We make cashless decision within 6 business hours and reimburse claims within 6 working days. On failure to meet with the Claims Service Assurance, we shall pay a fixed compensation of INR 1000 for a single claim.
  • Maternity and new-born baby cover: The policy provides cover for maternity and new born baby cover up till 90 days since date of birth within the maternity limits with a waiting period of 4 years.
  • Instant policy issuance
  • Cover for Ayurvedic Treatment: The policy provides for cost of non-cosmetic, ayurvedic treatment subject to maximum limit of INR 25,000 per policy year and with prior approval from the company with mandatory 24-hour hospitalisation
  • Cover for pre-existing diseases: Customer can claim the payment of relevant medical expenses incurred on his/her pre-existing diseases after 3 years of continuous cover with the Company
  • Free comprehensive health check-up: A complete health check to all customers at the end of 4 continuous claim free years
  • Additional lumpsum recovery benefit with no bills: The policy provides a lumpsum of INR 5000 when hospitalization exceeds 10 days. No bills ,no hassles, no questions asked
  • Cover for day care procedures with no static list: All Day care procedures with no static list are covered up till sum insured
  • Additional cover for hospital cash, ambulance charges, home treatment, hospitalisation expense, pre and post hospitalisation expenses
  • Option to go for 2 year policy (5% discount): The policy gives the option of buying a policy for 2 years with a 5% discount on the combined premium.
OPTIONAL FEATURES OF my:health MEDISURE CLASSIC INSURANCE
Customer can also avail of our optional features on the payment of a small additional premium.
  • Double Sum Insured for treatment of a critical illness: The Policy provides an optional cover equivalent to the Sum Insured (which essentially doubles the Sum Insured) for treatment of a critical illness.
  • Waiver of  Room Rent Sublimits

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