(Lto R) S Guruprakash, chief marketing officer, G Srinivasan, MD & CEO, and V Jagannathan, Chief Mentor at the product launching event of Galaxy Health Insurance in Chennai

G. Srinivasan, managing director and CEO of Galaxy Health Insurance said, “ We are committed to creating solutions that not only provide financial security in times of need but also encourage a culture of preventive health and wellness. With these new plans, we aim to address the rising healthcare costs by offering a blend of stability, affordability, and comprehensive family support.”

Chennai: Galaxy Health Insurance, the newest stand health insurance company, launched its first product Galaxy Promise with sum insured options from Rs 3 Lakhs to Rs 1 crore.

These plans from Galaxy are designed to address India’s rapidly rising healthcare costs, which increase by 10-15 per cent annually due to inflation, advanced treatments, and growing demand for specialised care, said the company.

G. Srinivasan, managing director and CEO of Galaxy Health Insurance said, “ We are committed to creating solutions that not only provide financial security in times of need but also encourage a culture of preventive health and wellness. With these new plans, we aim to address the rising healthcare costs by offering a blend of stability, affordability, and comprehensive family support. Our goal is to empower individuals and families to manage their health with confidence, knowing they are supported through every life stage.”

The insurance company is jointly promoted by Venu Srinivasan, chairman Emeritus of TVS Motor Company and Sundaram – Clayton Limited along with the family of V. Jagannathan.

The new Galaxy health plans come with nine distinguishing benefits, ensuring comprehensive support for policyholders:

-Unlimited Restoration of Sum Insured – This feature allows policyholders to make multiple claims within the same policy year, restoring the coverage amount each time a claim is made even for same claim for subsequent hospitalisation. This ensures continuity in support, addressing both recurring and new health issues.

-Premium Promise – To aid in managing healthcare expenses, these plans maintain a fixed premium rate up to age 55 or until a claim is made. This will encourage the customers to continue the insurance cover.

-Consumables – Coverage for 68 items + Admission, Record and Insurance Processing Charges

-No Co-payment

– Coverage for Room rent, ICU including Digital ICU

· Premium waiver for Voluntary Organ Donor – Insured person who donates organs, then insurer provides a 2-year premium waiver for the insured person and their immediate family members if they are already policyholders.

· Women Centric Benefits – These plans address a range of family health care needs such as Assisted Reproduction Treatment, In-Utero Fetal surgery for unborn, Delivery including Ante Natal scan and Newborn coverage

· Cumulative Bonus – Covered up to 500% of Sum Insured