A micro policy at affordable rate for providing insurance cover for vector-borne disease has been launched by Karnataka Vikas Grameena Bank (KVGB) in association with Liberty General Insurance Co. Ltd.
Chairman of the KVG Bank P. Gopi Krishna and Vice-President of Liberty General Insurance Manish Kotian unveiled the special micro insurance product, Janarakshaka, at a function in Dharwad recently.
Mr. Gopi Krishna said that as the rainy season approaches, chances of people contracting vector-borne diseases such as dengue, malaria, chikungunya, Japanese Encephalitis, Kala-azar, lymphatic filariasis and Zika virus increase.
These diseases required immediate medical attention and it could be stressful for people to spend their hard-earned savings on medical treatments as most of the sufferers are not admitted to hospital but get treated as outpatients. The new micro insurance policy will help cover the expenditure incurred for such treatment.
Under the policy, the policyholder will get immediate relief of ₹10,000 as a one-time compensation if he contracted any of the vector-borne diseases. The claim procedure has also been simplified. In addition, an accidental death coverage of ₹20,000 has also been included in the policy.
He said that the bank has over 2,000 service villages with a customer base of 90 lakh. Out of these more than 40 lakh customers are savings bank account holders and the bank intends to cover all the account holders with a very meagre premium of ₹35 per year in the first stage, he said.
Bank officials B.C. Ravichandra, Chief Managers S.S. Manur and Ullas Gunaga and others were present.
