Ola has announced that is rolling out a health insurance solution in partnership with Religare Health Insurance through its financial services arm, Ola Money. The OlaMoney-Religare Hospicash enables policyholders to claim Rs 5,000 per day of hospitalization with a total sum insured of Rs 500,000 per year. The policy will be available to all registered Ola users and can be purchased directly through the Ola app.
The policy, with a premium as low as Rs 3 per day, is available as individual and family plans and can be purchased monthly or for a period of 1 year, renewable thereafter. The product offers comprehensive health protection and is also a valuable addition to an existing health cover.
Ola said in a statement that the OlaMoney Religare health cover can be used to reimburse expenses incurred at any hospital across India.
Speaking on the launch, Nitin Gupta, CEO, Ola Money said, “The financial needs of Indian customers are fast changing with the myriad of uncertainties that surround us. More and more consumers are forced to use their savings to pay for unplanned hospitalization expenses. With our unique Hospicash product, we aim to create seamless access to quality healthcare for millions, forever alleviating the typical hurdles that most policyholders today face. A flexible and affordable proposition, this offering protects customers who are looking for additional medical coverage, with superior benefits.”
Key features of the policy include reimbursements by providing only proof of hospitalisation, lifelong renewability and coverage that includes hospitalization for accidents, treatments and critical illnesses.
Speaking about the partnership, Anuj Gulati, Managing Director and CEO, Religare Health Insurance said, “It has been our consistent endeavour to make Health Insurance solutions increasingly customized & accessible for consumers, and this product is a testament of our philosophy. It is a thoughtfully designed product that effectively compliments any existing health insurance plan and even competently serves as a standalone health coverage. We believe this is a landmark initiative and we are pleased to partner with Ola as they enter a new paradigm of consumer benefits.”