ICICI Lombard, ICICI Prudential launch combi product ‘ishield’: ICICI Lombard General Insurance and ICICI Prudential Life Insurance have jointly launched a combi product, ‘iShield’, which will provide customers with both, health and life insurance. The plan will enable customers to take care of expenses required for medical treatments. Besides, it will also provide a lump sum amount to the family in case of the unfortunate demise of the policyholder.
The “use and file” procedure allows an insurer to launch a product without prior approval of the regulator.
A combi product offers the benefits of life insurance, along with that of general or other insurance covers. The health insurance component covers expenses related to hospitalization, day-care treatments, pre and post-hospitalization, and homecare treatment, to name just a few. On the other hand, the life insurance cover will continue till the age of 85, ensuring the family has sufficient financial resources to continue with their lives.
Health ailments and the risk of loss of life pose the greatest threat to customers and their family’s financial security. The twin benefits of health and life insurance, offered by this solution, make this a must-have to ensure financial security.