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LIC health plus unique unit linked health insurnace plan no. 901

Hospital cash benefit - HCB, Major surgical benefit - MSB, Domiciliary treatment benefit - DTB, Benefit at end of the policy term, Death benefit.

Contrasting the cashless transaction model followed by rival, LIC's product would be based on the lines of floater plan, which would give the policyholder the option to receive a lump sum - which means claims could be made for even treatment / cure at home. "The supplementary element would be domiciliary claim, where a patient taking treatment at home will be compensated as and when he tenders the comprehensive bills.

Life Insurance Corporation of India is targeting to provide health cover to close to 10 million families in the 1 year of the operation / launch of the product and expects over Rs 4000 to 5,000 crore of revenues.

LIC has declared that the present cashless form is not in support of the customer as many hospitals were not compliant with the facility. In many cases hospitals are over charging if a patient comes with an insurance cover that offers cashless treatment. Therefore LIC has set up its health department at Hyderabad, which will contain the centralized data.

LIC Health product will not have a level premium and will increase with the age of the insured and if more benefits are opted for. Pre-existing diseases will be covered, but with some clauses. LIC being the Insurance giant will offer a health savings account and a unit-linked component attached to it the Lic heatlh product for the benefit of customers.

LIC health policy will cover outdoor patient expenses, but there will be limits to ensure overcharging by health care providers.

Apart from LIC India there are few other companies in general insurance like: ORIENTAL Insurance India, NATIONAL Insurance India, UNITED INDIA Insurance India, NEW INDIA Assurance India, RELIANCE General Insurance India, ICICI Lombard General, BAJAJ Allianz General Company, TATA AIG General Insurance, HDFC CHUBB General Insurance, IFFCO TOKYO General Company, ROYAL Sundaram General, CHOLAMANDALAM General, STAR Health Insurance India.

Anand Sinha appointed RBI deputy governor The government today notified the appointment of Anand Sinha, an executive director of the Reserve Bank of India (RBI), as one of the deputy governors of the central bank. He has been given a two-year term.

RBI warns against bank transactions with Iran Perceiving a threat of money laundering and terror-financing in banking transactions with Iran, the Reserve Bank of India (RBI) has asked banks and other financial entities to be cautious in their dealings with entities and funds from the West Asian country.

Now, ICICI customers can withdraw cash at shops ICICI Bank, the countrys largest private sector lender, today launched cash withdrawal facility for customers at point of sale (PoS) terminals or merchant outlets.

RBI cautions depositors against Sahara group firms The Reserve Bank of India has warned investors against putting money in Sahara group companies deposits. In a public notice, the central bank said it had got complaints from some individuals that the Sahara group have been mobilising deposits from the public under the generic name of Sahara Pariwar and Sahara India Pariwar.

DCB third quarter profit at Rs 8.1 crore Development Credit Bank clocked a net profit of Rs 8.1 crore for the quarter-ended December, as against a loss of Rs 18 crore in the year-ago period. At Rs 166.2 crore, the total income increased by 23 per cent, as against Rs 134.7 crore in the year-ago period. For the nine months ended-December, net profit rose to Rs 10 crore, as against a loss of Rs 70.2 crore in the year-ago period.

Private banks line up to fund roads Balarami Reddy, executive director-finance of Hyderabad-based IVRCL (the engineering, procurement and construction company), is one of those lucky chief financial officers who could manage 30-40 per cent oversubscription while raising debt for his road projects.

Indian Bank eyes Rs 5 lakh cr total biz in three years Indian Bank, one of the country's leading public sector banks, is eyeing a pan-India business of Rs five lakh crore and a net profit of Rs 2500 crore in the next three years.