ICICI Prudential Life Insurance launched critical illness insurance scheme Diabetes Care on Monday for people with Type 2 diabetes.
Initially, the product will be available in 12 cities in the country with the sum assured variants of Rs 300,000, Rs 500,000 and Rs 1000,000 and for the term period of five years.
"With over 20 per cent of the world's diabetic persons, the country has earned the dubious distinction of being Diabetes Capital of the world. ICICI Prudential aims is to provide better care and financial support to the diabetics," ICICI Prudential executive director, N S Kannan, told reporters in New Delhi.
The individual covered will receive payment of the sum assured on diagnosis of any of six critical illnesses associated with diabetes, like cancer, heart attack, renal failure etc.
Besides, the policy holders can also get 10 per cent of the sum assured for diabetes-related eye and limb complications. Available in two options, the policy is aimed at covering diabetic individuals in the age group of 25 to 60 years.
He also said the product rewards policyholders by reducing premiums by up to 30 per cent depending on the extent to which they have been able to manage their diabetes.
The insurer has tied-up with pharma and health care companies as well as 75 gym and health care centres for providing support to the insured persons.
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