Sunday, October 21, 2007

Oriental to come out with policy for senior citizens

National was the first one to come out with policy for senior citizens.It was followed by New India and United .Star is the co from Private sector ,which has been offering this policy.

Now it is the turn of Oriental to introduce the policy.Salient points of the policy will be ;
Entry age 60 yrs
Max age upto which the policy will be available will be 85 yrs
Max sum assured possible is Rs 2 lakhs only.( Rs 1.5 lakh for New India,RS 3 lakh for United,Rs 1 lakh for National)
Premium for age group of 60 to 65 for Rs 1 lakh will be Rs 3850 +Service Tax.This is lower than the premium being charged by National or Star.Good show-we welcome this.
Pre existing disease will be covered after 2 /3 yrs.

IRDA approval is awaited and then the formal announcement will be coming.

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