ICICI Prudential Life Insurance recently unveiled ICICI Pru Wish, a groundbreaking health insurance product focused on women-specific serious ailments and surgeries. Created in collaboration with the Reinsurance Group of America (RGA), this insurance scheme targets the distinct health issues faced by women in India.
ICICI Pru Wish ensures an immediate financial payout of up to 100% of the policy amount upon diagnosis of severe medical conditions like breast cancer, cervical cancer, uterine cancer, and cardiovascular diseases. Unlike conventional policies that simply reimburse medical expenses, this plan offers a direct lump-sum payment, allowing policyholders flexibility in handling their medical and financial requirements.
To address worries about increasing premiums, ICICI Pru Wish guarantees fixed premiums for a period of up to 30 years. Moreover, policyholders can enjoy a premium break for as long as 12 months during the policy period, providing essential financial flexibility in difficult times.
Maternity and Newborn Coverage Option: The plan also offers optional coverage for complications arising from maternity and congenital issues in newborns, further catering to women’s unique health needs.
Amit Palta, the Chief Product and Distribution Officer at ICICI Prudential Life Insurance, expressed, “ICICI Pru Wish is the first health insurance policy in the industry targeting women-specific issues. By offering lump-sum payments, it empowers women to be financially ready for medical emergencies. With features like fixed premiums and multiple claims option, we are addressing vital insurance needs of this segment.”
Sunil Sharma, the CEO of Reinsurance Group of America, India, stated, “We are thrilled to partner with ICICI Prudential Life Insurance on this pioneering policy crafted to address the unique health concerns of Indian women. This partnership underscores our shared commitment to developing innovative and customer-centric offerings.”
Core Features of ICICI Pru Wish include Instant Lump-Sum Payments: Unlike standard insurance plans that provide reimbursements, ICICI Pru Wish offers immediate funds upon diagnosis, enabling easy treatment management, Guaranteed Premium Consistency: Premiums are stable for up to 30 years, alleviating concerns about escalating costs, Premium Payment Breaks: A 12-month respite from premium payments can be taken during the policy’s term, providing economic relief, Optional Maternity and Newborn Care Coverage: Addresses maternity-related complications and congenital conditions in newborns, reflecting the distinct health needs of women, and Multiple Claims Flexibility: Allows clients to submit multiple claims for specific health issues, ensuring extensive coverage.