CHENNAI:
Leading health insurer – Star Health and Allied Insurance – has launched Young Star Insurance policy to cover 18-40 year olds for their specific healthcare requirements. The Young Star Insurance policy provides customers with benefits ranging from incentive-led wellness programmes, lowest waiting periods, automatic restoration of sum insured, etc.
The Young Star health insurance policy provides customers (aged 36 years or less) a lifetime discount of 10% on the premium applicable, if they renew their policy consistently. The policy also offers an additional basic sum insured of 25% (or upto Rs. 1 lakh) on any road traffic accidents requiring in-patient hospitalization. The Young Star policy is available on an individual basis and as a family floater plan, and the sum insured options range from Rs. 3 lakhs to Rs. 1 crore.
Speaking about the new policy, Anand Roy, Managing Director, Star Health and Allied Insurance Co. Ltd. said, “Through our consumer engagements, we understood that millennials are reticent to purchase health insurance to mitigate their healthcare expenses, as they find that features in the current offerings do not pertain to their needs. Hence we have designed the Young Star policy to include benefits such as lifelong premium renewal discounts, instalment premium options, wellness programs to manage and get incentivised on good health, low waiting periods, etc. The policy also covers mental illness and any OPD or hospitalisation expenses for the Coronavirus outbreak.”
