Health Insurance for members of cooperatives in Punjab by IFFCO-Tokio

Chandigarh, 08 February 2011: IFFCO Tokio General Insurance Co. Ltd., a leading player in general insurance sector, has launched the Bhai Ghanhya Sehat Sewa Scheme today, for the members of cooperative societies across Punjab (registered under the Punjab Cooperative societies act, 1961). The scheme aims at providing cost-effective, quality healthcare to its members and is an earnest endeavor of concern for their health.

The Scheme is a low premium Group Mediclaim policy, providing cashless coverage of up to Rs 1.50 lakh for medical treatment at any of the network hospitals across Punjab; it also provides for reimbursement facility if treatment is taken in a government hospital. The members or employees of cooperative societies can be enrolled under the scheme. The spouse, parents, unmarried children, widow and divorcee daughters, etc. of the main member can also be covered at an additional premium.

The scheme covers treatment of all medical/ surgical diseases requiring minimum 24 hours hospitalization, for expenditure up to Rs. 1.5 lakh per family unit. It also covers pre-existing diseases and maternity and provides a financial incentive of Rs. 2100 on the birth of a girl child. Some diseases which do not even require 24-hour hospitalization have also been included- like Dialysis, Chemotherapy, Radiotherapy, eye surgery, Lithotripsy, Tonsillectomy, and Coronary Angiography.

The premium amount for the main member is Rs. 1642 and the family members are charged under three slabs depending on their age. The maximum age to be enrolled under the scheme is 75 years.

On the first day of the enrollment, Mr. N K Kedia, Director – Marketing, IFFCO Tokio General Insurance Co. Ltd said, "Bhai Ghanhya Sehat Sewa Scheme is a step towards bridging the gap between a common man and access to quality medical care. This policy will be providing financial protection against high medical expenses to a large number of co-operative members. The scheme is a fine example of how insurance can reach those who need it most, through a strong and innovative distribution network. We want more and more people to be enrolled and get benefited from this policy."

About IFFCO TOKIO General Insurance Co. Ltd.

IFFCO Tokio General Insurance Company is a joint venture promoted by Indian Farmers Fertilizer Co-operative (IFFCO), the world's largest fertilizer co-operative and its associates and The Tokio Marine and Nichido Fire, the largest insurance company in Japan. The Indian promoters' share is 74 percent; while Tokio Marine's share is 26 percent. IFFCO-TOKIO has a presence in all the districts across Punjab with 47 offices.