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New India offers health cover discount

New India offers health cover discount

Customers of New India Assurance's mediclaim policy may soon get some relief from rising premiums. The public sector general insurance player is planning a loyalty discount for customers who are over 50 years of age and intend to renew their policies. The catch, however, is that the policy should have a cumulative bonus and no claims ought to be have been made in the year preceding the renewal. For instance, customers in Mumbai (under Zone 1), who pay the highest premiums, are likely to benefit the most with a 10% loyalty discount on the premium. A source added that Mumbaikars have to bear the highest cost of health care and insurance rates compared to any other city in the country. People living in Delhi and Bangalore (Zone 2) are likely to get a 7.5% discount. As for those living in the rest of India (Zone 3), they could benefit by 5%. New India had introduced a zone-wise distribution of premium rates last year when it modified its policy. So, a person in the age bracket of 55-60 years pays Rs 11,230 for a Rs 3 lakh mediclaim cover if he stays in Mumbai.

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