ICICI Prudential Life Insurance has introduced 'ICICI Pru Wish', a health product catering to women's specific critical illnesses and surgeries.
This product has been developed by the company in collaboration with Reinsurance Group of America, Incorporated (RGA), a global life and health reinsurer.
“ICICI Pru Wish offers an instant payout of up to 100% of the health cover amount on diagnosis of critical illnesses like breast, cervical, uterine cancers and heart ailments to name a few,” the insurer said in a statement.
“Unlike standard plans, where the payouts are in the form of reimbursements, this product offers a fixed lump sum on diagnosis, providing flexibility to customers,” it added.
Mr Amit Palta, Chief Product and Distribution Officer, ICICI Prudential Life Insurance, said, “This product empowers women to be financially prepared by offering a lump sum payout to cover medical exigencies.”
“We believe the women customer segment offers a large market opportunity, and this product has been specifically designed to address the insurance needs of this segment,” he added.
Mr Sunil Sharma, Chief Executive Officer, Reinsurance Group of America, India said, “This partnership highlights our mutual dedication to offering innovative, customer-focused solutions for changing market demands.”