Bima Vistaar priced at Rs 1,500: Life, health, property insurance bundled in one product | Know full features and benefits
The Insurance Regulatory and Development Authority of India (IRDAI) has reportedly fixed the pricing of ‘Bima Vistaar’ – a single insurance product that covers life, health, accidental damage and property. This all-in-one insurance product, designed for people living in rural areas of the country, is priced at Rs 1,500 per policy, various media reports suggest. These reports have cited industry officials who attended a two-day programme called ‘Bima Manthan’ held on April 25-26 in Hyderabad.
This edition of ‘Bima Manthan’ encapsulated the industry’s collective resolve to drive positive change and foster inclusivity in insurance, the IRDAI said in a release.
At the event, attended by many insurance company CEOs and IRDAI chairman Debasish Panda, the focus was on empowering the policyholders and providing ample choice, flexibility and transparency in insurance transactions. Through collaboration, innovation, and a shared vision of ‘Insurance for All’, the industry committed to realize meaningful progress in safeguarding the financial well-being of every citizen, the insurance sector regulator said.
‘Bima Vistaar’ is part of IRDAI’s ‘Trinity’ initiative, with online insurance marketplace Bima Sugam and insurance distribution channel Bima Vaahak being other two programmes to help in the mission of ‘Insurance For All’ by 2047.
IRDAI is yet to formally announce the modalities of the insurance plan.
Also Read: Got it all WRONG! IRDAI move doesn’t mean age cap of 65 for buying health insurance removed – Know why
Bima Vistaar
Launched with an aim to enhance insurance penetration in the country, Bima Vistaar – all-in-one insurance plan – gives policyholders coverage for life, health, personal accident and property risks.
Bima
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