Future Generali general Insurance Company is a joint venture between the Future Group of industries, an Indian Company and Generali group, an Italy based Company. Future Generali offers a wide spectrum of general insurance products like Motor Insurance, Health Insurance, Travel Insurance, Personal Accident & Home Insurance.
Future Generali Health Insurance at a Glance
Total members covered
Coverage for a maximum of 4 family members with up to 2 adults and 2 children
Pre and Post Hospitalization cover
Medical expenses covered for 60 days before your hospitalization and 90 days for post hospitalization for related medical expenses
Health Check-ups
Free Medical check up in the insurer's empanelled diagonstic centers after every four claims free years
Critical Factors of the Plan
Co-Pay
In basic plan no co-pay is applicable, For customers in Zone A (Mumbai/Delhi/NCR) 30% , for customer in Zone B ( Chennai/ Kolkatta/Banglore/ Ahemedabad/Hyderabad) 20% of co-payment and Rest of india No-copay.
Life long renewable
Plans are lifelong renewable and covers you for your entire lifetime.
Pre-existing Diseases
Any pre-existing condition will be covered after a waiting period of 4 year
Room Rent
up to 1% of the Sum Insured per day. If admitted into Intensive Care Unit up to 2% of the Sum Insured per day.
Additional Features of Future Generali Health Insurance
Subject to no claim, cumulative bonus of 10% on the basic sum insured will be provided up to a maximum of 50% of the sum insured.
Additional accidental hospitalisation limit enhanced by 25% of balance sum insured, subject to a maximum of ` 1 lakh.
Family discount of 10% is available in case more than one person is covered in the same policy.
Future Generali general Insurance Highlights Updated on 22 Aug 2017
| Features | Specifications |
| Network Hospitals | 4300+ |
| Waiting Period for Pre-existing Disease | 4 years |
| Incurred Claims Ratio | 81.53% |
| Number of Policies Issued | 31001 |
| Grievances Solved | 99.98% |
| Renewability | Lifetime |
*For Year 2015-2016
Overview
The coming together of India’s business behemoth, Future Group, and Italy’s insurance major, Generali Group, resulted in the formation of a new insurance provider in India viz. Future Generali India Insurance Co. Ltd. which provides general assurance solutions. (Future Generali India Life Insurance Co. Ltd. provides life assurance solutions)
Future Generali India Insurance Co. Ltd., headquartered in Mumbai, began operations in the year 2006. This private insurance company aims to service its customers by combining the global leadership expertise of Generali Group and the local market knowledge of Future Group. Together, these two business powerhouses offer the general insurance industry the best practices from within and outside India.
The Future Group of India is a force to reckon with in the retail segment of the Indian markets. It is well known for its flagship chains in the supermarket sector viz. Food Bazaar, Big Bazaar and other retail stores that deal in fashion and electronics like Central, Home Town and E-Zone to name a few. The Future Group has strong capabilities in identifying market gaps and opportunities and filling them successfully and innovatively, all the while staying true to its core principle of ‘keeping things Indian’.
Its operations are not limited to fashion and lifestyle products. It also deals with logistics, supply chain and infrastructure. Additionally, it develops and promotes brands that consistently make their mark on Indian consumers. They have strong market reach, servicing over 300 million customers in over 90 cities and 60 rural areas.
Generali Group has grown since its humble start in 1831 to become a top insurance provider, known the world over for its superior management capabilities. It brings in business from over 60 countries with a customer-base of over 65 million. They aim to leverage on their key strength of successfully trading off risks and profitability by increasing their footprint in developing markets. Their admirable capital and financial position has them poised to meet the challenges of an emerging market like India.
Future Generali offers a range of general protection solutions for all lines including home, motor and health insurance among others. It also devises complex solutions to meet large-scale requirements through products like engineering and marine insurance.
Among its health insurance policies are the below plans which provide coverage to both individuals and their families.
- Future Health Suraksha - Individual
- Future Health Suraksha - Family
- Future Health Surplus
- Future Criticare
- Future Hospicash
Its base plans viz. Future Health Suraksha, can be topped up with separate policies i.e. Future Health Surplus, Future Criticare and Future Hospicash to enhance protection at marginal costs. This gives customers an opportunity to avail of comprehensive coverage.
Important details of each plan are tabulated below.
| Future Health Suraksha - Individual |
|---|
| Eligibility | Cover | Features/Benefits |
| Minimum Entry Age - 90 days (children are eligible only if parents are covered; children are considered to be dependants until 25 years) Maximum Entry Age - 70 years | Sum Assured Chosen amount applies to each individual insured person/family member. - Up to Rs.10 lakhs for entrants up to 55 years of age. Basic Plan, Silver Plan and Gold Plan - Rs.50,000 to Rs.5 lakhs (in increments of Rs.50,000); Platinum Plan - Rs.6 lakhs, Rs.7.5 lakhs, Rs.8 lakhs, Rs.9 lakhs and Rs.10 lakhs. - Rs.5 lakhs for entrants above 55 years of age (age limit applicable to those switching from other insurers). - Rs.50,000 for dependant children (only if parents are covered under the same plan). | Free Look Period - 15 days from policy receipt for policy cancellation with refund of premium paid (adjusted). |
| Maximum Renewal Age - No Limit | At any of the company’s network hospitals. | Cumulative Bonus - 10% awarded for every claim-free year. - Up to 50%. |
| Medical Screening - Not required up to 45 years. - Mandatory (at authorised medical centres only) for proposer above 45 years of age (50% of screening expenses will be reimbursed if the proposer is subsequently accepted as a client) | Premiums Payable for Plans taken on Individual Basis Basic Plan - Rs.713 to Rs.4,630; Silver Plan - Rs.785 to Rs.5,093; Gold Plan - Rs.855 to Rs.5,552; Platinum Plan - Rs.7,454 to Rs.11,633; Depends on the chosen sum assured and age of the insured person. | Free Health Checks - At authorised centres. - Every 4 claim-free years. |
| Pre-hospitalisation expenses - Up to 60 days. | Portability allowed. | |
| Post-hospitalisation expenses - Up to 90 days. | Tax benefits U/S 80D of the IT Act for premiums paid (not applicable to cash payments). | |
| Ambulance Charges - Up to Rs.1,500. | Cashless facilities. | |
| Day Care Treatment - For 130 procedures. | Renewal Grace Period - 30 days from policy expiry. | |
| Hospital Cash Benefits - Applicable under the Platinum Plan only. | Claim Payments - Depends on plan chosen. - 80% to 100% for Basic, Silver, Gold. - No sub-limit applicable for Platinum. - Further depends on zone applicable i.e. location. - For cataract surgery claims will be the lower of actual expenses or 10% of chosen sum assured (per eye) or Rs 50,000. | |
| Pre-Existing Diseases - Upon completion of 4 consecutive years of this policy. | ||
| Patient Care Expenses - For insured members above 60 years of age. - Up to Rs.350 per day. - Up to Rs.500 per day for person accompanying the insured member. | ||
| Additional cover - For accidental hospitalization. - 25% of sum assured or Rs.1 lakh, whichever is lower. | ||
| Cataract, Hernia, Tumour (similar ailments) - Upon completion of 2 policy years. | ||
| Gallstones, Kidney stones (similar ailments) - Upon completion of 1 policy year. | ||
| Joint Replacement Surgery (necessitated for reasons other than due to accident) - Upon completion of 3 policy years. |
Exclusions:
- Known pre-existing conditions, injuries, illnesses for which guidance, treatment or consultation was received, prior to policy inception, will not be eligible for coverage under this plan until completion of 4 consecutive policy years.
- Cover will not be provided for illnesses arising during the first 30 days of policy period.
- Non-allopathic procedures.
- Ailments of congenital nature.
- AIDS and related diseases.
- Ailments arising from drug or alcohol usage.
Future Health Suraksha - Family(Family means the proposer and his/her spouse and 2 dependant children) |
|---|
| Eligibility | Cover | Features/Benefits |
| Minimum Entry Age - 90 days (children are eligible only if parents are covered; children are considered to be dependants until 25 years) Maximum Entry Age - 70 years | Sum Assured One amount applies to all insured members/family members. - Up to Rs.10 lakhs for entrants up to 55 years of age. Basic Plan, Silver Plan and Gold Plan - Rs.50,000 to Rs.5 lakhs (in increments of Rs.50,000); Platinum Plan - Rs.6 lakhs, Rs.7.5 lakhs, Rs.8 lakhs, Rs.9 lakhs and Rs.10 lakhs. - Rs.5 lakhs for entrants above 55 years of age (age limit applicable to those switching from other insurers). - Rs.50,000 for dependant children (only if parents are covered under the same plan). | Free Look Period - 15 days from policy receipt for policy cancellation with refund of premium paid (adjusted). |
| Maximum Renewal Age - No Limit | Policy Period - 1 year. | Cumulative Bonus - 10% awarded for every claim-free year. - Up to 50%. |
| Medical Screening - Not required up to 45 years of age. - Mandatory (at authorised medical centres only) for proposer above 45 years of age (50% of screening expenses will be reimbursed if the proposer is subsequently accepted as a client) | Premiums Payable Based on the age of the oldest insured person. Basic Plan - Rs.3,100 to Rs.9,261; Silver Plan - Rs.3,410 to Rs.10,187; Gold Plan - Rs.3,717 to Rs.11,103; Platinum Plan - Rs.11,181 to Rs.23,266. Depends on the chosen sum assured, age of insured and family size i.e. 2 adults or 2 adults and 1 child or 2 adults and 2 children. | Free Health Checks - At authorised centres. - Every 4 claim-free years. |
| Pre-hospitalisation expenses - Up to 60 days. | Portability allowed. | |
| Post-hospitalisation expenses - Up to 90 days. | Tax benefits U/S 80D of the IT Act for premiums paid (not applicable to cash payments). | |
| Ambulance Charges - Up to Rs.1,500. | Cashless facilities. | |
| Day Care Treatment - For 130 procedures. | Renewal Grace Period - 30 days from policy expiry. | |
| Hospital Cash Benefits - Applicable under the Platinum Plan only. | Claim Payments - Depends on plan chosen. - 80% to 100% for Basic, Silver,Gold plans.. - No sub-limit applicable under Platinum plan. - Further depends on zone applicable i.e. location. - For cataract surgery claims will be the lower of actual expenses or 10% of chosen sum assured (per eye) or Rs 50,000. | |
| Pre-Existing Diseases - Upon completion of 4 consecutive years of this policy. | ||
| Patient Care Expenses - For insured members above 60 years of age. - Up to Rs.350 per day. - Up to Rs.500 per day for person accompanying the insured member. | ||
| Additional cover - For accidental hospitalization. - 25% of sum assured or Rs.1 lakh, whichever is lower. | ||
| Cataract, Hernia, Tumour (similar ailments) - Upon completion of 2 policy years. | ||
| Gallstones, Kidney stones (similar ailments) - Upon completion of 1 policy year. | ||
| Joint Replacement Surgery (necessitated for reasons other than due to accident) - Upon completion of 3 policy years. |
Exclusions:
- Known pre-existing conditions, injuries, illnesses for which guidance, treatment or consultation was received, prior to policy inception, will not be eligible for coverage under this plan until completion of 4 consecutive policy years.
- Cover will not be provided for illnesses arising during the first 30 days of policy period.
- Non-allopathic procedures.
- Ailments of congenital nature.
- AIDS and related diseases.
- Ailments arising from drug or alcohol usage.
Future Health SurplusDeductible Option Policy; Top-up plan/Additional Policy for a larger and more comprehensive cover, Ideal to meet hospitalisation expenses incurred due to accident/illness. |
|---|
| Eligibility | Cover | Features/Benefits |
| For persons already covered under a hospitalization health insurance policy - expenses will be covered over and above the deductible amount. For persons who are not covered under a health insurance policy - the proposer has to bear deductible amounts for each hospital stay. | Sum Assured and applicable deductible: - Rs.3 lakhs; the applicable deductible is Rs.2 lakhs. - Rs.5 lakhs; the applicable deductible is Rs.2 lakhs or Rs.3 lakhs. - Rs.7 lakhs; the applicable deductible is Rs.3 lakhs. - Rs.10 lakhs; the applicable deductible is Rs.5 lakhs. | Family Discounts - 20% to 60% on premiums. - For plans on family floater basis. |
| Minimum Entry Age - 3 months to 5 years (where both parents are covered under this plan). - 6 years to 18 years (where at least one parent is covered under this plan). - Persons between 18 years to 25 years can be considered to be either dependants or independent proposers. | Premiums Payable - Rs.1,008 to Rs.27,804. - Depends on the age of the insured person, the chosen sum assured and applicable deductible. - Loading for underwriting up to 10%. | Free Look Period - 15 days from policy receipt, for policy cancellation with refund of premium paid (adjusted). |
| Maximum Entry Age - 65 years. | Basis - Individual or Family Floater (Family includes proposer, spouse and children). | Portability allowed. |
| Maximum Renewal Age - No Limit. | Pre-hospitalisation expenses - Up to 60 days. Post-hospitalisation expenses - Up to 90 days. | Tax benefits U/S 80D of the IT Act for premiums paid (not applicable to cash payments). |
| Medical Screening - Not required up to 55 years of age. - Required (at authorised medical centres only) for proposer above 55 years of age or when advised (50% of screening expenses will be reimbursed if the proposer is subsequently accepted as a client). | Inpatient hospitalisation expenses - Surgeon, Anaesthetist, Medical Practitioner, Consultants, Specialists, Anaesthesia, Blood, Oxygen, OT, Surgical Equipment, Medicines, Drugs, Diagnostic Equipment, X-Ray, Pacemaker, Prosthesis, Implants, Other vital operation expenses. | Cashless facilities. |
| Joint Replacement Surgery (necessitated for reasons other than due to accident) - Upon completion of 3 policy years. |
Exclusions:
- Pre-existing conditions for which treatment or consultation was received prior to policy inception will have a waiting period of 4 years.
- Ailments arising during the first 30 days of policy period.
- Non-allopathic procedures.
- Congenital ailments.
- AIDS/Illnesses arising due to AIDS.
- Illnesses/Injuries due to drug or alcohol usage.
Future CriticareStandalone cover for 12 Critical Illnesses; Additional policy/Top-Up Plan; Fixed Payout. |
|---|
| Eligibility | Cover | Features/Benefits |
| Minimum entry age - 6 years. Maximum entry age - 65 years. | Sum Assured: Minimum - Rs.1 lakh. Maximum - Rs.50 lakhs for persons up to 45 years and Rs.20 lakhs for persons above 45 years. Maximum Sum Assured on Renewal: - Rs.1 lakh for persons between 66 years and 70 years. - Rs.2 lakhs for persons above 75 years. - Rs.5 lakhs for persons between 71 years and 75 years. | Medical Screening Reimbursement - 50% of costs when the proposer is accepted as a customer. |
| Maximum renewal age - No Limits. | Premiums Payable - Rs.262 to Rs.2,65,660. - Depends on the age of the insured person and the chosen sum assured. Premium Loading - 10% to 25% for renewals for persons above 65 years. Premium Discounts - For plans taken on family floater basis. - 5% to 50% depending on age of the insured members. | Free Look Period - 15 days from policy receipt, for policy cancellation with refund of premium paid (adjusted). |
| Renewability - Cover terminates for an insured member upon contracting and successfully processing claims relating to any of the specified illnesses | Basis - Individual or Family Floater (Family includes proposer, spouse, 2 dependant children up till age 25 years and 2 dependant parents) | Portability allowed |
| 12 critical Illnesses provided the insured person lives for 28 days post diagnosis/relevant surgical procedure - Cancer (depending on severity) including leukemia, lymphoma and sarcoma - Dialysis for Kidney Failure - Primary Pulmonary Arterial Hypertension - Liver Failure - Multiple Sclerosis - Bone Marrow/Major Organ Transplant - Open Chest Coronary Artery Bypass Graft - Aorta Graft Surgery - Stroke with permanent effects - First Heart Attack (depending on severity) - Coma (depending on severity) - Total Blindness |
Exclusions:
- Pre-existing conditions known to the proposer, not specified in the policy and accepted by the insurer, for which treatment or consultation was received prior to policy inception will have a waiting period of 4 years.
- Waiting period of 90 days from policy inception.
- Unrecognised, unscientific procedures/treatment i.e. not allopathic
- Congenital ailments/ birth defects
- AIDS/Illnesses arising due to AIDS
- Illnesses/Injuries due to drug or alcohol usage
- Unrequired medical treatment/treatment not provided by a qualified doctor
- Procedures for birth control and hormone replacement
- Plastic/Sex change surgery.
- Suicide attempts.
- Fallouts from war, terrorism and related acts.
- Injuries sustained from dangerous sports/hobbies.
- Illnesses occurring due to infections or other ailments (except due to accidents).
- Diagnosis done abroad not confirmed in India.
Future HospicashDaily cash benefits to meet expenses of hospitalisation; Additional plan to enhance base policy coverage. |
|---|
| Eligibility | Cover | Features/Benefits |
| Minimum entry age - 6 months. Maximum entry age - 65 years. | Premiums: 30 days - Rs.261 to Rs.8,660; 60 days - Rs.287 to Rs.9,526; 90 days - Rs.301 to Rs.10,002; 180 days - Rs.318 to Rs.10,515. Depends on the plan and plan period chosen. Premium calculations on Family Floater Basis: Proposer - based on the age of the oldest covered member; Spouse - 50% of the proposer’s premium; Child - 25% of the proposer’s premium. | Tax benefits U/S 80D of the IT Act. |
| Existing coverage under hospital cash policies - Total daily benefits of all existing policies of the proposer (if any) should not exceed Rs.6,000. | Policy Period - 1 year. | Free Look Period - 15 days from policy receipt for cancellation with refund of premiums paid (adjusted). |
| Maximum renewal age - No Limits. | Basis - Individual or Family Floater (Family includes the proposer, his/her spouse and 2 dependent children until age of 25). Irrespective of basis, only one plan can be chosen which will apply equally to all members covered by the plan. | Portability allowed. |
| Medical Screening - Required for entrants over 55 years under Plans C and D. | ||
| Income Requirements: Plan A - No limits; Plan B - No limits; Plan C - Above Rs.50,000 p.m.; Plan D - Above Rs.75,000 p.m. If total daily benefits across multiple policies taken is over Rs.3,000 - 125% of proposer’s income per day. | Cash benefits (according to plan chosen). Plan period options - 30, 60, 90 or 180 days. Plan A - Rs.500 hospitalization allowance. - Rs.1,000 ICU allowance (limited to 10 days) if availed in city of residence; Rs.1,500 if availed outside city of residence. Plan B - Rs.1,000 hospitalization allowance. - Rs.2,000 ICU allowance (limited to 10 days) if availed in city of residence; Rs.3,000 if availed outside city of residence. Plan C - Rs.2,000 hospitalization allowance. - Rs.4,000 ICU allowance (limited to 10 days) if availed in city of residence; Rs.6,000 if availed outside city of residence. Plan D - Rs.3,000 hospitalization allowance. - Rs.6,000 ICU allowance (limited to 10 days) if availed in city of residence; Rs.9,000 if availed outside city of residence. Rs.5,000 Convalescence allowance (all plans) for hospital stay more than 10 successive days. |
Exclusions:
- Known pre-existing conditions are subject to a waiting period of 48 months from policy inception.
- Specific diseases like benign prostatic hypertrophy, hernias, hydrocele etc. are subject to a waiting period of 24 months from policy inception.
- Hospitalization for following procedures: cosmetology, plastic surgery, refractive error correction, experimental and other non-allopathic treatments
- Maternity or fertility treatment.
- Psychiatric treatment.
- Harm to self.
- STD ailments.
- Hospitalization in countries other than India.
Also Read: How to File a Claim with Future Generali?
Also Read: Best Health Insurance Plans of 2017
Future Generali Health Insurance FAQs
- What is a floater policy?
- What is the meaning of a Third Party Administrator or TPA?
- What is the difference between Inpatient hospitalization and Day Care treatment?
- What are network hospitals?
- Which are the network hospitals of Future Generali Health Insurance in Bangalore?
- Belle Vue’s Cambridge Hospital
- Poornima Hospital
- Sri Shirdi Sai Hospital
- Sri Venkateshwara Hospitals
- Sri Venkateshwara Nethralaya
- Sri Vanyaka Multi Specialty Hospital & Trauma Center
- Cambridge Hospital
- BGS Global Hospital
- Vasan Eye Care Hospital
- Koramangala (A unit of Vasan Health Care Pvt. LTD)
- Bhagavathi Multispecialty Hospital
- Bhagwan Mahaveer Jain Heart Center (A unit of Srinivasa Cardiology Centre Pvt. LTD)
- Bhagwan Mahaveer Jain Hospital
- Bharath Nursing Hom
- How is Domiciliary Hospitalisation described?
- The condition of the patient is too fragile for her/him to be moved to a hospital
- The hospital facility is lacking in space to make lodging available.
- What is the meaning of Cashless access?
- What is the procedure to obtain Cashless access?
- What is an authorization letter?
- One of the add-on feature of the Future Generali Health Insurance is a cumulative bonus of 10% insurance amount. Is this true?
- Upto a maximum of 50% of the basic sum insured
- Insurer’s terms and conditions
- Product’s terms and conditions
- Eligibility of the insured
- What is the freelook period for the Future Health Suraksha - Individual policy?
Clients opting for the “Group Mediclaim Policy” are given the opportunity of a floater policy. Within the floater policy, a float amount is divided amongst the family members or by the families of the employees under the Group Mediclaim Policy.
TPA or Third Party Administrator refers to a company that has acquired a license from the IRDA that allows them to practice as a third party administrator and is therefore selected by the insurance company to service their health insurance policy holders
The difference between Day Care Treatment and Inpatient Hospitalisation is that a patient who stays for less than 24 hours in the hospital is considered to have received treatment under Day Care Treatment whereas a patient who is treated for at least 24 hours or more is considered as an Inpatient.
Under agreements with the TPA of Future Generali Health Insurance, certain hospitals provide cashless treatment to policyholders. These hospitals comprise of the ‘Network Hospitals’. These network hospitals are listed out in the TPA user guide and also will be available on the TPA’s website. Cashless facility can only be availed at network hospitals.
Following are the network hospitals of Future Generali Health Insurance, Bangalore, Karnataka -
Medical treatment that is administered while the patient is limited to the house is referred to as domiciliary hospitalisation. The treatment in this case would ideally be offered at a hospital but sometimes patients cannot be treated at a hospital because of the following reasons -
The third party administrator that has been chosen by the insurance company authorizes certain hospitals to treat the insured without the insured paying any cash. The payment for the treatment thus administered by the hospital will be made by the third party administrator (TPA) directly to the hospital. The amount that is sanctioned for the TPA to make the payment is governed by the policy terms, exclusions and conditions that are established in the contract drawn between the insurance company and the insured.
Each person insured under a health insurance policy of Future Generali is given an identity card or a health card.
In the circumstance that hospitalisation is required, the identity/health card must be produced along with an authorization letter.An authorization letter is issued to the insured indicating the insured’s name, the name of the hospital where the cashless access is required, the type of illness for which the treatment is being sought as well as the allocated cash limit exceeding which, the insured will have to make the payment. The policyholder will have to submit this authorization letter along with the identity/health card that is issued by the third party administrator to the hospital counter where the cashless access is being requested.
Yes, a cumulative bonus of 10% is provided on the basic sum insured. It is subject to the following conditions-
The freelook period for the Future Health Suraksha - Individual policy is -
15 days from the receipt of the policy with the refund of premium paid duly adjusted.
News About Future Generali Health Insurance
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New Total Health Plan from Future Generali India Insurance
Future Generali India Insurance, a joint venture between the Future Group and Generali Insurance, launched a new total health plan with a cover of 3 years. There will be 3 options available under this plan, named vital, superior and premier and will range from Rs. 3 lakh to Rs. 1 crore, which will cover as many as 12 relationships can be covered in this policy. This scheme will include hospitalization, wellness benefit and medical treatment taken abroad as well. The insurance company has managed to rope in 4,200 hospitals on a national level and 400 of these are in Karnataka alone.
2nd November 2015
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Future Generali Insurance will increase their share in the health sector by 20%
A joint venture between the Future Group and Generali Insurance, Future Generali Insurance says they are planning to increase their health insurance sector by 20%. With inflation in the medical sector, and the health insurance expected to grow is the reason for this increase in share. Their current market share in the health sector is 14% of their portfolio and with new launch of their Health Total plan they hope to increase this share. The company's new plan will be available with 3 options vital, superior and premier ranging from Rs. 3 lakh to Rs. 1 crore, and will cover as many as 12 relationships can be covered in this policy. The insurance company has managed to rope in 4,200 hospitals on a national level.
28th October 2015
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Future Generali net profit up by half as much
Future Generali India Insurance, a joint venture between India’s future group and Italy based Generali, reported its net profit has registered a 50 percent growth to Rs. 60.29 crore for the year ending March 2015 as against Rs.39.62 crore the previous year. Growth in health and motor insurance businesses primarily drove the change in revenue. While Motor Insurance saw a growth of Rs 130 crore to Rs. 830 crore, health insurance grew by Rs. 20 crore to Rs. 80 crore. Gross Written Premium grew from Rs. 1303 crore to Rs. 1480 crore, a rise of 14 percent and the company is looking forward to grow it by 20 percent this year. The company’s networth grew from Rs. 395 crore to Rs. 456 crore in the same year while Assets Under Management (AUM) increased to Rs. 1975 crore in the same year.
27th May 2015
GST rate of 18% applicable for all financial services effective July 1, 2017.
Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.
