Reportedly, Star Health Insurance is soon going to launch an exclusive product for cancer patients. It is also looking forward to raising Rs.200 crores in the next couple of months to meet their growth plans.
As on date, there is no health insurance product that caters to patients suffering from cancer. All the plans offer health cover to only healthy individuals who may get diagnosed with a terminal illness, Cancer. The products in the market currently cover any future medical expenses that may incur due to cancer.
Anand Roy, Executive Director and CMO of Star Health Insurance, says, “The existing products are targeted towards healthy individuals who will get insurance benefits if they contract cancer. We want to change that and cater to the neglected segment. Currently, we are working on the product pricing and it will be based on actuarial data.” Basically, the objective is to launch disease-specific plans.
Apart from cancer, Star Health Insurance is also planning the introduction of appropriate products for Autism. “We are looking to launch an insurance product for children suffering from autistic disorders. This will be launched once we get the regulatory nod for the same,” says, Anand Roy, Executive Director and CMO of Star Health Insurance.
Star Health Insurance has re-launched Family Health Optima (FHO) plan with additional features and has increased the price by 10-15 percent due to the rise in medical costs and inflation.
Surely, Star Health as a standalone health insurance company is looking to stand out in the market with a one of its kind product. The launch of a health policy for Cancer patients would change the current health insurance market, and for Star Health Insurance it can be a game changer move.
