Let us welcome Religare Health Insurance 
It is always good to have entry of a new Insurance company. There is a challenge for the new company to come out with new/innovative /attractive product.
Religare Health Insurance has become operational and has started doing business in July, 2012
Salient points of their policy are:
- Maximum sum Assured – Rs 60 Lakhs (highest in India)
- Yearly check up on free of cost basis.
- Overseas treatment permitted for those who have sum assured of Rs 50 Lakhs/ Rs 60 Lakhs.
- No age limit for entry
- Life long renewals
- In house claim settlement
- Restoration of sum assured after lodging/settlement of claim
You will be interested to know the premium to be paid by someone for sum assured of Rs 50 Lakhs:
Family Floater for 2 adults of age group 61-65 years it is Rs 2, 58,360.
The good point is that insured is permitted to undergo treatment in foreign countries for critical/serious ailments/surgeries. This is to make clear that till now all health insurance policies were having the condition that insured can have treatment within India only.
Religare has taken a welcome step by permitting overseas treatment (for sum assured Rs 50 lakhs & Rs.60 lakhs).
You being a well informed person are aware of that Overseas Travel Policy does not permit you to travel abroad and get hospitalized for treatment of existing diseases.
For the same family -Family Floater for 2 adults of age group 61-65 years for sum assured of Rs 25 Lakhs the premium is Rs 47,958. But it permits treatment within India only.
The premium for Rs 50 Lakhs is not 2 times of the premium for Rs 25 Lakhs but it is 5.39 times or 439% higher.
Any Comment?