Lifeline is Royal Sundaram’s first plan serviced by doctors, offers the widest range of sum insured from Rs 2 lakh to Rs 1.5 croreCompany envisions the state of Uttar Pradesh to be a major growth market for Health insurance
Lucknow, 30th August, 2016: Royal Sundaram General Insurance Co. Limited has launched Lifeline, its flagship health insurance product in Uttar Pradesh. Lifeline, will now be offered through the company’s agency channel to the customers in the state. Lifeline, the company’s most celebrated and highly reviewed health insurance product is the first to be serviced by doctors and offers the widest range of sum insured – from Rs. 2 lakh to Rs. 1.5 crore.
Commenting on the launch of the policy for customers in the state, M.S. Sreedhar, Managing Director, Royal Sundaram General Insurance Co. Limited said, “At Royal Sundaram, we have always believed in offering superior products to our customers complemented with best in class service and customer experience.We are happy to launch Lifeline today in the state of Uttar Pradesh. We are working on improving our agency network in the city of Lucknow and state of UP. In the last couple of months we have already recruited around 100+ partners and will be on-boarding more in the coming months. We are looking forward to expand the base substantially in Lucknow and other major cities of UP”
Royal Sundaram already has more than 35000 live customers of Lifeline and expect to have strong growth in the coming year. We are looking forward for a major increase from Lucknow and other major cities of UP.“ We believe that several external factors, including rising medical treatment costs, improved awareness towards health insurance coupled with superior policy features such as wide range and greater customisation – will appeal to a larger customer base within the state”, added Mr. Sreedhar .
The company’s most celebrated and highly reviewed health insurance product –Lifeline, has three sub-plans to choose from–Classic, Supreme and Elite with varying benefits and premiums. The tax-saving plan covers anyone from three-month-old babies to adults of all ages and has family floater benefits too.
Some of the key features of the product include:
· No capping on room rent and disease specific
· 100 per cent reload benefits in addition to generous no claim bonus
· Covers all day care procedures
· Inclusive of Ayush treatments
· Vaccination for animal bites
· International treatment for emergency hospitalization and for critical illness with return air fare
· Domestic emergency evacuation
· Zonal Pricing to benefit the state of UP. Pricing is discounted by 15% compared to Metro cities like New Delhi with no impact at the time of claim
· Health & Wellness Benefits
To boost smart health practices, the product also covers cost of taking second opinions of as many as 11 critical illnesses.
About Royal SundaramGeneral Insurance Co. Limited
Royal Sundaram General Insurance Co. Limited (formerly known as Royal Sundaram Alliance Insurance Company Limited), a subsidiary of Sundaram Finance, is the first private sector general insurance company in India to be licensed in October 2000 by the Insurance Regulatory and Development Authority of India. The company was initially promoted as a joint venture between Sundaram Finance, one of the most respected non-banking financial institutions (NBFCs) in India and Royal & SunAlliance Insurance plc, UK, one of the oldest general insurers in the UK. In July 2015, Sundaram Finance acquired the 26% equity holding from Royal & SunAlliance Insurance plc. Consequently, the entire 100% equity holding in Royal Sundaram is now held by Sundaram Finance (75.90%) and other Indian Shareholders (24.10%).
Royal Sundaram has been providing innovative general insurance solutions to individuals, families and businesses directly as well as through its intermediaries and affinity partners. The company offers Motor, Health, Personal Accident, Home and Travel Insurance to individual customers and offers specialised insurance products in Fire, Marine, Engineering, Liability and Business Interruption risks to commercial customers. Royal Sundaram also offers specially designed products to the small and medium enterprises and rural customers as well. The company is a pioneer in bancassurace in India, having long-standing tie-ups with reputed banks and NBFCs. Currently, Royal Sundaram has over 5.20 million customers, 1700 employees and its products are distributed in over 115 cities across India, through agents, distribution partners, affinity partners and brokers.
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