ICICI Prudential MF has introduced a medical advantage feature to help investors use their mutual fund investments to cover hospitalization costs. The fund house has tied up with Vidal Healthcare Services (a third party administrator) to offer this facility to its investors.
To avail this benefit, investors have to open a new folio in ICICI Prudential Savings Fund by opting for medical advantage feature. Existing investors can also opt for this facility.
Vidal Healthcare has empaneled with over 6,000 hospitals across 800 cities to offer this facility.
Here’s how it works. After opening a folio in ICICI Prudential Savings Fund, an investor gets a medical advantage feature card. In case of medical emergency, investors have to fill up a medical redemption and Vidal will guide them to the nearest hospital. The hospital will send an estimate of expenses to Vidal Healthcare which will help process the claim.
By investing in ICICI Pru Savings Fund investors can get up to 20-25% discount on hospitalization and 24/7 access to a doctor on phone. They can also get cashless access to any empanelled hospital.
Speaking about the medical advantage feature, Nimesh Shah, MD and CEO, ICICI Prudential Mutual Fund said, “A majority of people consider liquidity as a safer option and believe in holding cash, apprehending emergency. Now using MF investments, investors can get a cashless access to empanelled hospitals for their medical expenditures 24/7; and, can also achieve capital growth when money is not needed, thus making it a win-win solution for them.”
