The buzz around Yoga seems to have struck a chord with health insurers. The growing popularity of this ancient form of exercise has prompted general insurers such as ICICI Lombard, Bajaj Allianz and Royal Sundaram to incorporate it in their wellness and preventive healthcare benefit packages.
While the trend is more prevalent in the employees' group health insurance schemes, some insurers are now planning to extend it to their retail health policies too. "We are planning to introduce such programmes for our retail customers," said Nikhil Apte, chief product officer, product factory (health insurance), Royal Sundaram. The company plans to offer online Yoga coaching sessions or DVDs to its retail policyholders.
ICICI Lombard has already recognised Yoga as an eligible preventive healthcare tool by making it part of an add-on cover attached to its regular health policy. "Policyholders who buy our add-on cover that offers preventive healthcare and wellness benefits can file a claim for reimbursement of expenses incurred on enrolling for Yoga sessions," says Sanjay Datta, chief, underwriting and claims, ICICI Lombard General Insurance. The customers have to produce receipts of fees paid to Yoga institutes to claim the benefit. The sum insured under this add-on plan ranges from Rs 2,500 to Rs 10,000 a year, depending on the cover amount chosen.
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