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ICICI Lombard partners with Flipkart to offer group insurance policies ANI | Updated: Feb 17, 2021 12:46 IST
Compared to standard indemnity health insurance policies, Group SafeGuard offers consumers to avail a payout for each day of hospitalisation. Flipkart said the fixed daily amount enables consumers to pay for incidental medical or emergency expenses.
The insurance is affordably priced, paperless and flexible covering both accidental hospitalisations or planned surgeries and treatment.
The direct average out-of-pocket expenditure for hospitalisation ranges between Rs 4,452 to 31,845 for a person while the average loss of income due to hospitalisation is estimated to be Rs 8,164 per day.
The Hospicash benefit offered by ICICI Lombard provides consumers an extra allowance to cover any out of pocket expenses be it emergency medical expenses, travel, post-discharge costs or compensation for loss of income during hospitalisation.
Flipkart has branched out into insurance services for life, health, motor and cyber, through tie-ups.
Flipkart, India s e-commerce marketplace, has partnered with ICICI Lombard to offer Group SafeGuard insurance, a group insurance policy to its consumers. Compared to the standard indemnity health insurance policies, Group SafeGuard is a benefit offering that allows consumers to avail a payout for each day of hospitalisation.
The fixed daily amount enables consumers to pay for incidental medical or emergency expenses. The insurance is inexpensive, paperless, and flexible; covering both accidental hospitalisations and planned surgeries/treatment.
Indians incur significant expenses during hospitalisation. According to a report by the Union Ministry of Statistics and Programme Implementation, the direct average out-of-pocket expenditure for hospitalisation in India ranges between Rs 4,452 to Rs 31,845 for a person, whereas the average loss of income due to hospitalisation is estimated
Compared to the standard indemnity health insurance policies, Group SafeGuard's Hopicash benefit offering allows consumers to avail a payout for each day of hospitalisation.
E-commerce company Flipkart has partnered with ICICI Lombard to offer Group SafeGuard insurance, a group insurance policy to its consumers. Compared to the standard indemnity health insurance policies, Group SafeGuard is a benefit offering that allows consumers to avail a payout for each day of hospitalisation, a joint statement said on Wednesday. The fixed daily amount enables consumers to pay for incidental medical or emergency expenses, it said. The insurance is affordably priced, paperless, and flexible; covering both accidental hospitalisations or planned surgeries/treatment , the statement said. With daily cash benefits starting from Rs 500, Hospicash benefit under Group SafeGuard insurance will provide cover to Flipkart consumers, it was stated.