Page 44 - Insurance Times October 2023

NEW PRODUCTS

New Product Launches

Tata AIA Introduces Pro-Fit extortionate living and medical costs. Even if treated
entirely, many such diseases can recur. Further, the post-
Tata AIA Life Insurance, has launched Tata AIA Pro-Fit, an
diagnosis and care payments cause a significant financial
innovative and personalised health solution that caters to
drain. The fact that 65% of all health spending in India is
one's unique needs. This exceptional plan provides
comprehensive coverage for one's medical expenses and out-of-pocket expenses points to the significant gap in the
health & wellness benefits and presents an opportunity for nature and extent of health coverage in India. Tata AIA Pro-
wealth creation, which doubles up as a health emergency Fit Health plan is a plan that is designed to accompany your
fund. health journey and provide you coverage for up to your
chosen term or even the whole of your life. The plan covers
you from early detection to prevention and treatment to
As per the 2021 Indian Economic Survey, 65% of medical
expenses are paid as Out-Of-Pocket (OOP) fees. In several recovery, using value-added services such as of Medix and
Vitality - a unique behavioural change programme that
cases, people dipped into their long-term savings during
actively supports and rewards your healthy choices."
health emergencies as they found their basic health cover
policy insufficient. Tata AIA's Pro-Fit comes to the rescue
with benefits that include: When a registered medical practitioner recommends, health-
related withdrawals from the plan will be tax-free (Income
Cover for more than 130 surgeries, day care procedures
and 57 critical illness Tax benefits would be available as per the prevailing income
tax laws). This would include expenses related to
Avail cashless claim services at network hospitals in India Complementary and Alternative Medicines such as
Reimbursement for diagnostic tests up to Rs. 25,000 Ayurveda, homeopathy, panchakarma, nutrition, etc. The
solution even offers coverage for health-related costs in
Cover for medical expenses related to treatments done
in India and 49 countries. India or abroad. In addition, consumers can benefit from
the Vitality wellness program, including rewards for
The Overseas Treatment Booster pays additional following a wellness regime, free health check-up services,
benefits up to Rs. 10,00,000 for Critical Illness etc. Consumers also get access to Medix's empaneled
treatment abroad (can be used for travel, Doctors and consultants worldwide, thereby obtaining
accommodation, companion costs, etc.) expert advice for treating critical illness with Medical Case
Tax-free redemptions made for treatment-related Management (PMCM).
expenses
Looking at the investment side of the plan, Pro-Fit allows
Unique benefits to encourage women and the younger
policyholders to grow their investments with market-linked
population to start investing towards their health.
returns offered under ULIP funds. Policyholders receive a
'Pride' discount for transgender people lump-sum payout in case of Total and Permanent Disability
Health & wellness benefits with the world-renowned due to an accident, apart from an in-built death cover that
programs - Vitality & Medix Photocopies of medical ensures financial protection for the loved ones in the absence
reports are accepted; no need for original papers. of the policyholders.

Announcing the launch of the new solution, Samit Upadhyay, Policyholders can enjoy all these benefits until they are 100,
President & Chief Financial Officer of Tata AIA Life Insurance, ensuring complete peace of mind. Moreover, Smart Lady
said, "Critical illness can happen at any age and these often- Discounts provide female policyholders with a 2% discount

The Insurance Times October 2023 41