Page 26 - Insurance Times September 2020

tomer base access to HDFC Life's com- insure me if my kidney function test understand that an organ donor is a
prehensive and innovative product (KFT) reports are good. healthy individual and there is no lit-
suite - through a shared commitment For me, it's a big success for organ erature to suggest that organ donors
to make a difference in their lives by are at higher risk of any medical com-
donors in the country," said Dr
addressing their unique insurance plication as a result of donating the
Wankhede. When Dr Wankhede
needs," said RajanPental, global head organ. They must get insurance cover,"
turned 65 two years ago, the insur-
- retail banking, Yes Bank. he said.
ance company told him that his policy
"In addition to the strength of the could not be renewed as it does not
products, HDFC Life and Yes Bank will offer cover to people above 65. Dr Bharti AXA launches new
continue to focus on strengthening the Wankhede approached another pri- unit linked individual in-
digital and technology platforms to vate company, which specifically offers surance plan
provide differentiated customer expe- health insurance for elderly people. To
rience," he further sai. his dismay, this company also rejected Bharti AXA Life Insurance, announced
his request. "I had disclosed in my ap- the launch of Bharti AXA Life Wealth
HDFC Life's extensive product portfo-
plication that I was a kidney donor, Pro, a unit linked individual insurance
lio coupled with the bank's digital ca-
which worked against me," said Dr plan. This offers triple benefits of regu-
pabilities and widespread presence will
Wankhede. lar savings, enhanced protection and
ensure easy accessibility of life insur- market linked returns, it said in a state-
ance to the customers. "HDFC Life's After three companies denied him insur- ment. "The new and value-loaded ULIP
claims intimation process is available ance cover, Dr Wankhede lodged a helps customers plan and achieve their
online. Customers and claimants can complaint with Insurance Regulatory financial milestones as per the chang-
avail the services without having to and Development Authority of India ing life-stages along with financial se-
step outside their homes," the insurer (IRDA). "As nothing happened even af- curity for their families," it said.
mentioned. ter repeated follow-up, I finally wrote
to Prime Minister Narendra Modi with The plan provides protection and

Kidney donor gets right to all details," he said. Within a month, he wealth creation benefits from an early
got a call from the company. age of 91 days up to the age of 99
insurance after PMO prod years by paying premiums either for a
After facing rejections from multiple
Nagpur: In 2009, Dr Ravi Wankhede, companies, Dr Wankhede, who has limited duration or once at the com-
a well-known activist in the field of been working for the cause of organ mencement of the plan. The plan has
organ donation and former general donation throughout his life, feared two variants Growth and Legacy. In
secretary of Zonal Transplant Coordi- that people may be discouraged from the Growth variant, the customers
nation Centre (ZTCC) in Nagpur, had donating organs, if they find out that have three policy term choices, ten, 15
donated one of his kidneys to his friend insurance companies are not going to or 20 years, and can pay premium once
Dr SalimChimthanwala. This altruistic provide them with health coverage or for five, seven, ten, 15 or 20 years.
kidney donation had won accolades for after donating organs. "Insurance While the customer chooses to pay
him then as Dr Wankhede had saved a cover for me was not a big deal, but premium once, he/she can opt for
life. In 2020, no company was ready to all live donors must be given this pro- higher life insurance coverage of 10
give him health insurance cover for not tection was the issue. times life insurance cover, it was
having two kidneys. As per IRDA rules, no company can stated. The Legacy variant also pro-
Finally, he wrote to Prime Minister deny insurance to live donors and there vides the policyholder with a life insur-
Narendra Modi a month ago, and on has been no exception to this," said Dr ance cover of 10 times the annualised
September 24, the same insurance Wankhede. A senior official from Na- premium throughout the policy term
company, which had earlier denied him tional Organ and Tissue Transplant up to 99 years of age and a legacy fund
cover, called him and offered policy. "I Organization told TOI that number of for his/her loved ones. Under this, the
got two calls from the company that live donors for kidney and liver is in- customer has to pay premiums for five,
it has received a communication from creasing and they must get health in- seven, ten or till 60 years of age, the
the PMO. The company said it would surance cover. "Companies have to statement added. T

22 The Insurance Times, September 2020