31 July 2011
KUWAIT: Having health insurance can be important in offering people extra security in health emergencies. Indian nationals living in Kuwait can now benefit from a newly launched healthcare insurance program. As part of the celebrations of the Silver Jubilee of their successful partnership, OICL and the Al Mulla Group have launched the OIC Medical Insurance Policy for individuals and families under the slogan 'Insuring a Better future.'
The Oriental Insurance Company Limited (OICL), one of the largest general insurance companies in India, and Al Mulla Group, one of the leading business conglomerates in Kuwait, have enjoyed a long and rewarding relationship since 1985. Today, OICL, an Indian government initiative with an annual premium income exceeding KD 2 billion, offers an extensive range of insurance policies, covering a variety of areas, including health, marine, fire, engineering and miscellaneous others, as well as offering vehicle
insurance in Kuwait.
At the launch of the new insurance initiative, held at the Crowne Plaza Hotel yesterday, experts explained that eligibility for the insurance program is open to all legal residents in Kuwait and their dependants. Parents are also covered, provided they are permanent residents in Kuwait. For adults the maximum age limit is 65 years, while for children, the age range goes from 14 days to 21 years old.
The insurance program also offers transferability, which allows continued insurance cover on returning to India," explained Anil Parasher, OICL's Resident Manager in Kuwait. "The policy is not renewed automatically; after one year the customer has to renew it. He is also able to change his premium on renewal. A medical checkup is compulsory if the person is aged above 50 years, or if they have any adverse medical history.
The new program offers three different healthcare coverage plans, Parasher revealed: "The sum insured depends on the scheme chosen by the customer, and ranges from KD 3,500 for the Silver, KD 5,000 for the Gold and KD 10,000 for the Platinum scheme. Furthermore, he added, the program offers cashless treatment, and 24/7 customer service.
The many medical benefits available under this program are categorized according to whether the medical treatment is given to those undergoing treatment as inpatients or outpatients. "Both, outpatient and inpatient treatments are offered as part of the program in Kuwait, while in India this service is limited to only inpatients," Parasher explained. "It is noteworthy that there are over 4,000 healthcare providers selected to provide service under this program in India, and 40 more in Kuwait.
While many medical insurance products are available on the Kuwait market, the benefits and value-added services provided by OIC Medical Insurance are specifically designed to meet the requirements of the Indian community in Kuwait, Parasher emphasized. Discounts on the premium are available for Family Packages to the tune of 50 percent for wife and 25 percent for each child, up to a maximum of two children, for a floating sum.
As well as offering affordable and competitive premiums and easy underwriting procedures, the continuation and transferability of the program's cover even after the policy-owner returns home to India, as well as the ease of payment in installments through Bader Al Mulla & Brothers (OICL's Agents in Kuwait) makes this a highly attractive insurance program, Parasher concluded.
KUWAIT: Having health insurance can be important in offering people extra security in health emergencies. Indian nationals living in Kuwait can now benefit from a newly launched healthcare insurance program. As part of the celebrations of the Silver Jubilee of their successful partnership, OICL and the Al Mulla Group have launched the OIC Medical Insurance Policy for individuals and families under the slogan 'Insuring a Better future.'
The Oriental Insurance Company Limited (OICL), one of the largest general insurance companies in India, and Al Mulla Group, one of the leading business conglomerates in Kuwait, have enjoyed a long and rewarding relationship since 1985. Today, OICL, an Indian government initiative with an annual premium income exceeding KD 2 billion, offers an extensive range of insurance policies, covering a variety of areas, including health, marine, fire, engineering and miscellaneous others, as well as offering vehicle
insurance in Kuwait.
At the launch of the new insurance initiative, held at the Crowne Plaza Hotel yesterday, experts explained that eligibility for the insurance program is open to all legal residents in Kuwait and their dependants. Parents are also covered, provided they are permanent residents in Kuwait. For adults the maximum age limit is 65 years, while for children, the age range goes from 14 days to 21 years old.
The insurance program also offers transferability, which allows continued insurance cover on returning to India," explained Anil Parasher, OICL's Resident Manager in Kuwait. "The policy is not renewed automatically; after one year the customer has to renew it. He is also able to change his premium on renewal. A medical checkup is compulsory if the person is aged above 50 years, or if they have any adverse medical history.
The new program offers three different healthcare coverage plans, Parasher revealed: "The sum insured depends on the scheme chosen by the customer, and ranges from KD 3,500 for the Silver, KD 5,000 for the Gold and KD 10,000 for the Platinum scheme. Furthermore, he added, the program offers cashless treatment, and 24/7 customer service.
The many medical benefits available under this program are categorized according to whether the medical treatment is given to those undergoing treatment as inpatients or outpatients. "Both, outpatient and inpatient treatments are offered as part of the program in Kuwait, while in India this service is limited to only inpatients," Parasher explained. "It is noteworthy that there are over 4,000 healthcare providers selected to provide service under this program in India, and 40 more in Kuwait.
While many medical insurance products are available on the Kuwait market, the benefits and value-added services provided by OIC Medical Insurance are specifically designed to meet the requirements of the Indian community in Kuwait, Parasher emphasized. Discounts on the premium are available for Family Packages to the tune of 50 percent for wife and 25 percent for each child, up to a maximum of two children, for a floating sum.
As well as offering affordable and competitive premiums and easy underwriting procedures, the continuation and transferability of the program's cover even after the policy-owner returns home to India, as well as the ease of payment in installments through Bader Al Mulla & Brothers (OICL's Agents in Kuwait) makes this a highly attractive insurance program, Parasher concluded.
© Kuwait Times 2011
