ICICI LAUNCHES HEALTH POLICY FOR DIABETICS

Indian private sector insurer ICICI-Prudential Life has launched Diabetes Care, a health insurance policy for diabetics, in 12 Indian cities. ICICI Prudential CEO MD Shika Sharma said that approval for the policy had been obtained from the Insurance Regulatory & Development Authority (IRDA) within the past week. The policy covers diabetics — a fifth of the world’s diabetic population is reportedly in India — aged from 25 to 60 for Rp300,000, Rp500,000 or Rp1m, for an initial period of five years. Payment is made to the policyholder on the diagnosis of six critical illnesses associated with diabetes. Premiums vary according to age and sex, but are reduced year-on-year, bringing a 30% discount if the policyholder shows good control of the condition.