Page 63 - Ebook health insurance IC27

Sashi Publications

 These policies are governed by the Micro
Insurance Regulations of IRDA.

 Various NGOs and community organisation take
Micro insurance as a group policy for their
members.

 IRDA's rural and social sector obligation requires
every insurerto sell a specified number of policies
and rural and social sectors.

 Penetration of Micro insurance products has not been very high since the cost of
acquisition for insurance companies is very high in case of Micro insurance products.

 It is more feasible and cost-effective to offer these products through NGOs and
voluntary organisations who can purchase this product in bulk for their members.

International coverage products

 Many companies are providing insurance cover for travel outside the country.
 These policies provide protection against health contingencies occuring during

international travel, loss of baggage and cover for a flight cancellation.
 Expenses for medical treatment during an overseas visit may be very high and could

be beyond themeans of the traveler. This cover protects him from such contingencies.
 Some countries insist on valid travel insurance before granting of Visa.
 Since these products are expensive, the demand is not very high and the policyholders

are selective.

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