: Private health insurer Star Health
and Allied Insurance on Friday said it has unveiled a new policy to incentivise health-conscious millennials.
The Young Star Insurance policy covers 18-40 year olds for their specific healthcare requirements. It offers benefits such as incentive-led wellness programmes and lowest waiting periods among others, a press release said.
The Young Star policy is available on an individual basis and also as a family floater plan and the sum insured ranges from Rs three lakh to Rs one crore.
The policy offers an additional basic sum insured of 25 per cent (or upto Rs one lakh) on any road accidents requiring in-patient hospitalisation.
"Through our consumer engagements, we understood that millennials are reticent to purchase health insurance to mitigate their healthcare expenses, as they find features in the current offerings do not pertain to their needs," the company managing director Anand Roy said.
"We have designed the Young Star policy to include benefits such as lifelong premium renewal discounts, instalment premium options, wellness programmes to manage and get incentivised on good health," he said.
In FY 2019, Star Health has procured a gross written premium of Rs 5,412 crore. It has over 11,000 employees and 500 branches across India.
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