The first mediclaim policy in India was introduced by the government in the year 1986; the history of medical insurance in the country is not much old. But because of it not being much popular, health insurance remained unknown commodity for a really long time. And those who were aware of it mostly used to have it to avail tax benefits.
Health insurance sector
In a nutshell, a very few companies use to provide best health insurance plan in India and they basically they didn’t do anything to motivate people about the importance of having a health insurance cover and to buy and avail its benefits. However; with time the insurance industry paid heed to the health insurance sector and open up about it. This all happened for three reasons, firstly in order to make more money, secondly tough competition in the market; thirdly an increase in health issues of people because of junk food and unhealthy routine.
It is very common these days to see young people suffering from diseases that earlier only our grandparents used to have. This insecure health condition gave business sense and so more insurance companies came into the picture. Religare Insurance Company is the name which is most commonly heard when we look for our first insurance policies; especially because offers the most affordable and beneficial mediclaim insurance plan.
Financial service provider
When you talk about the most reputed health insurance providers of India, Religare Health Insurance tops the list. It is a subsidiary of Religare Enterprise Limited; a leading financial service provider across the country. The Corporation Bank and Union Bank of India are the other shareholders of the company.
Providing a wide range of financial services, the Religare group is well know for offering the best health insurance products, and one of them is CARE. The CARE plan of Religare health insurance plan provides a unique feature ‘recharge’ to their customers; it is the first product out of many offered by the company.
Range of financial services
As the CARE plan offers so many benefits and it is having so many features but is the most useful and unique feature under the plan by Religare Health Insurance Company. If we talk about the literal meaning of recharge, we all know it means reloading. And as the literal meaning says; it works with the same intention in the CARE plan.
The feature is to reinstall up to the sum insured in one year if the claim amount exhausts in that year. The health insurance company makes the reinstatement up to the sum insured of the current policy of policyholder; but due on certain terms and conditions. Here are they: