Health insurance for your domestic help at Rs 155; check details

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To check the third wave of Covid pandemic, people are taking all types of measures. Gated communities constitute one of the most vulnerable sections as far as the spread of Covid is concerned. These communities were one of the worst-affected sectors during the first and second waves. One of the largest gated community applications has introduced insurance cover for the domestic helps at a nominal cost.

Probably this is the first company that offers health insurance at less than Rs 1,000 per year. MyGate is offering low-cost health insurance for domestic helps of these gated communities.

Insurance at Rs 155

While the pandemic has exposed the vulnerability of the lower income groups, there is also growing evidence of willingness among gated-community residents to support their staff such as drivers, maids and cooks.

MyGate’s members can buy a group health cover that allows beneficiaries to claim daily cash benefit for hospital admissions ranging from Rs 500 per day to Rs 3,000 per day for 30 days in a year with no deductibles. The annual policy premium starts at Rs 155 and goes up to a maximum of Rs 900. The policy is available for 12 months for those aged between 18 years to 65 years. This cover is given by Care Health Insurance, said MyGate authorities.

“We provide individual policy signups. i.e., if there is more than one domestic help, a separate sign up for each domestic help is required. This policy is valid only when the beneficiary is part of any active MyGate community. If any of them leaves the job or owner decides to discontinue, they will not get any policy benefits. Also, it is not possible to transfer the policy to another person or cancel the policy,” said Abhishek Kumar, COO and co-founder of MyGate.

3 million customers

MyGate has 3 million active households, who are currently on MyGate. Mumbai, Bengaluru, Delhi-NCR and Pune are our top 4 cities, said Abhishek. The growth of enrolment of gated community at a pace of 15% since March, 2021, he added.

He estimated if each and every household, who are using this app go for this insurance scheme, then at least 10 million low income group people can be covered under insurance scheme. This would make a huge difference in the bottom of the pyramid.

Customer’s feedback

Money9 spoke to some MyGate users about the insurance scheme and got some mixed reaction. “I am using MyGate app since its inception in our community. This is a very safe and secure app. But I am not at all aware of this insurance scheme, I have to check it first and if satisfied we would be happy to avail it” said Siboli Banerjee, a resident of a known gated community of south Kolkata.

“The secretary of our apartment has informed us about this insurance scheme. But I am not interested as I have already paid for the vaccination of my three domestic helps. But this is obviously a good initiative and I would suggest it to my friends,” said Sudipta Sil from a well-known gated community off EM Bypass.