Bharti AXA Life forays into health insurance segment

Bharti AXA Life forays into health insurance segment

New Delhi: Bharti AXA Life Insurance on Thursday made a foray into the health insurance segment with the launch of triple-benefit critical illness plan.

The plan would cover 13 critical illnesses under three broad groups. The insurance cover would be for up to three times the sum assured under the policy, Bharti AXA Life said in a statement.

In June this year, Bharti Group entered into an agreement to sell its 74% stake in life insurance firm Bharti AXA Life to Mukesh Ambani-led Reliance Group. The deal is currently awaiting certain regulatory approvals.

“Bharti AXA Life Triple Health Insurance Plan is designed to not only financially protect the policyholder, but also act as an income replacement in such trying times," Bharti AXA Life Insurance CEO Sandeep Ghosh said.

Upon being diagnosed of one of the illnesses, the policyholder can claim 100% of the sum assured under the policy and is still covered for illnesses under the remaining two groups.

In case of critical illness, future premiums payable by the policyholder are waived.

At present, Bharti AXA Life Insurance is a 74:26 joint venture between Bharti Enterprises and AXA Asia Life.