Bajaj Capital has partnered with Reliance General Insurance to offer coverage against coronavirus to its customers.
In fact, the company claims to have sold over 1000 policies within a few hours of its launch. In a press release, the company said, “The exclusive policy has got a tremendous response with more than 1,000 policies sold within a few hours with an average premium of Rs. 2,500 which is significantly higher than the reported average premium of specific coronavirus protection policies which is only supposed to be around Rs. 600.”
The family floater plan offers a cover ranging between Rs.50,000 and Rs. 5 lakh. Individuals in the age group 3 months – 65 years can buy this policy without undergoing any medical treatment. Also, individuals who have a travel history can also buy this policy with additional premium.
The plan covers hospitalization expenses, quarantine cover, pre and post-hospitalization expenses, ambulance cost, a daily cash benefit to cover the incidentals and a lump sum benefit of up to Rs. 30,000.
Further, the plan is priced at Rs.675 for sum insured of Rs.1 lakh and Rs.2538 for coverage of Rs.5 lakh for 55 year old individuals.
Sanjiv Bajaj, Vice Chairman & MD, Bajaj Capital said, “There is no plan available in the market, which could meet the needs of the clients as most of the covers being offered were of very low sum assured up to Rs. 1 lakh at the maximum and we at Bajaj Capital felt that was not enough. Also, most of the online plan came with a lot of restrictions and conditions which we felt would not help the policy older get the kind of protection he needs.”