New cover for Indians abroad on the cards

Come January 2006, Indians working abroad will be able to take advantage of an insurance product that will cover their treatment expenses in India as well.

The Apollo Hospitals Group is in discussions with insurance companies in the US to enable this facility, where it will play the role of a service provider.

Speaking on the sidelines of the ISB Healthcare & Pharma Summit 2005, Sangita Reddy, managing director of Apollo Health Street and executive director (operations) of Apollo Hospitals Group, said, "There is a huge chunk of Indian population in the US, working in the IT sector. We are, therefore, working on an insurance product targeting the L1 visa candidates that will cover their medical expenses in India too. It will work on self-pay system."

Declining to divulge the name of the insurance company that is likely to launch this product, Reddy said that while the Apollo Hospitals Group will not be marketing the product, it will be the service provider.

"The launch of the first product on these lines is expected in January 2006," she added.