Liberty Videocon General Insurance Company has forayed into health insurance with the launch of ‘Liberty Health Connect Policy’ in India.
The policy offers wide coverage with minimal exclusions and sub-limits. Customers can choose a one year or a two-year policy tenure for individuals and family.
Liberty Health Connect Policy offers benefits such as flexi policy term, renewal benefits, no sub-limit on hospital room rent, restoration of sum insured, assured renewal for life, reports The Hindu Business Line.
Liberty Videocon General Insurance director and CEO Roopam Asthana said: "With the introduction of these products, we aim to provide our customers with accessible and affordable tools for meeting their healthcare needs during unexpected situations."
The firm plans to have an additional capital of INR3bn ($48m) by January 2015. This capaital would come from the two partners in the venture, Videocon Industries Limited and Liberty Citystate holdings PTE Ltd, which is a group company of US-based Liberty Mutual.
The company already has a capital of INR3.5bn ($57m).
It aims to gain premium collection of INR2.3bn ($37m)by the end of this fiscal.
For next fiscal, the company intends to gain a premium growth in the range of 80-90% compared to the current fiscal.