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South Indian Bank health insurance for customers launched

The South Indian Bank (SIB) Wednesday offered an insurance policy providing comprehensive health cover to its 3.50 million current and savings account holders across the country.

Launched in partnership with Cholamandalam MS General Insurance Company, this family floater policy is available for Rs.two lakh.

"We are sure that this initiative will address the healthcare needs of our customers," said V.A. Joseph, managing director and CEO of the Kerala-based bank.

According to SIB, no medical test is required for this policy and the age of entry is 90 days to 69 years. And renewal is allowed till the age of 75.

"We have also developed a unique portal which will enable easy processing of proposals and payments at all SIB branches and ease the paperwork on the customers. We hope to sell around 100,000 policies in fiscal 2010-11," said S.S. Gopalarathnam, managing director of Chola MS. (IANS)

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