Page 148 - IC38 GENERAL INSURANCE

c) Critical illness covers
This is a fixed benefit plan for payout on occurrence of a pre-defined critical
illness like heart attack, stroke, cancer etc.
The world over health and disability insurance go together but in India,
personal accident cover has traditionally been sold independent of health
insurance.
Also health insurance usually does not include expenses incurred whilst outside
India. For this purpose, another product – overseas health insurance or travel
insurance - needs to be purchased. Only in recent times, a few high end health
insurance products of private insurers include overseas insurance cover as part
of regular health insurance cover, subject to certain terms and conditions.
4. Classification based on customer segment
Products are also designed keeping in mind the target customer segment. The
benefit structure, pricing, underwriting and marketing for each segment is quite
distinct. Products classified based on customer segments are:
a) Individual cover offered to retail customers and their family members
b) Group cover offered to corporate clients, covering employees and groups,
covering their members
c) Mass policies for government schemes like RSBY covering very poor sections
of the population.

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