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Mumbai: Aditya Birla Insurance has launched a health policy offering up to 100% return of the premium if the customer did not make a claim in earlier years.

The offering is a new version of its existing Activ Health policy that provides a comprehensive health protection with extensive wellness benefits, the company said in a statement.

The offer of giving up to 100% return of the premium or up to 100% reload of the sum insured is based conditions that the customer has been leading a healthy lifestyle and continuously renewing the policy, and the bonus will be accumulated in the form of health returns.

The company claimed that it is the only health insurer making such an offer.

A customer will be rewarded if he or she had two claims-free years wherein he or she would earn 50% no claim bonus for every claim-free year or up to 100% of the sum insured, it said.

It can be noted that last week rival firm Future Generali had launched a similar product offering a flat 80% discount on the premium on renewal if there was no claim in the previous year.

Called ‘health super saver policy’, Future Generali is offering straight 80% discount on the premium on renewal in the second/ third year in case there was no claim in the previous year, it had said.

Aditya Birla Insurance said its proposed rewards in the new policy will be credited through a cash-equivalent that can be used for either health-related expenses like buying medicines, paying for diagnostic tests, day-care treatment, out-patient expenses, alternative treatments that are traditionally excluded, or could be used towards the payment of future premium.

It also offers Rs 3-6 crore cover for major illnesses and cashless hospitalisation for critical illnesses for treatment abroad.

The new policy is designed to meet the evolving needs of customers and also to promote sustainable healthy lifestyle.