Media Release

Mangalore, Feb 29: 'K Family Care', health insurance policy was launched by Karnataka Bank in association with M/s Universal Sompo General Insurance Co Ltd at a function held at its Head Office, here recently.

Speaking on the occasion, P Jayarama Bhat, managing director of the bank said that with the introduction of 'K Family Care' health insurance policy, the bank has given one more value addition to its customers and is a welfare measure to the society at large.

O N Singh, chairman of M/s Universal Sompo General Insurance Co Ltd, said that with more than 75 general insurance products in its basket, the company is catering to all the needs of its promoter bankers namely Allahabad Bank, Indian Overseas Bank and Karnataka Bank Ltd. Singh emphasized that increasing health cost has necessitated individuals to purchase Health Insurance Cover and Health Insurance portfolio, it is rapidly growing at a rate of 25%.

The power packed features of the K Family care Insurance scheme has features as: The Policy covers Health related expenses from consultation leading to hospitalization for covered treatment and expenses incurred due, to disease and accident with coverage of domiciliary treatment benefit. Day care treatment for 156 diseases/ exigencies is covered. Policy is available for the individual for sum insured raging from Rs 50,000 to Rs 5 lacs in multiples of Rs 50,000. Policy scheme is available for the family of the customer on 'FLOATER' Sum Insured basis. It also covers the pre and post hospitalization benefits. The policy is power packed with unique features like daily cash allowance, maternity benefit, free health check up (after three claim free policies) and ambulance charges.

The uniqueness of the health insurance policy is the option of critical illness covers. Over the counter sales closure facility by No Medical Check Ups requirement upto the age of 50 years with pre underwriting health checkups at the cost of company. Income tax benefit available under Section 80 (D) of Income Tax act (Prevailing rates at for Individuals, spouse and dependent children at Rs 15,000, for dependant parents additional Rs 15,000 and if any of dependant parent is senior citizen additional Rs 5,000.

Sarvashri P Jairama Hande, general manager, N R Ravishankar, assistant general manager, Vinay Karve, insurance marketing officer Karnataka Bank Ltd, Sushil Kumar Rawat, chief marketing officer and Amitesh Agarwal, head of Bancassurance were present on the occasion.