New Delhi: An insurance cover for human immunodeficiency virus, or HIV, patients is now in the pipeline.
This health insurance cover, which is the first of its kind, is awaiting Insurance Regulatory and Development Authority, or IRDA, approvals.
Star Health and Allied Insurance, a Chennai based health insurance company has proposed a unique group insurance policy for HIV positive patients.
The firm plans to approach the patients through NGO's and medical organisations, to help them avail the group scheme.
Under this group insurance policy, Star Health and Allied Insurance will provide a minimum cover of Rs 30,000 or Rs 50,000 to HIV patients.
Premium payable for the Rs 30,000 policy will be Rs 2,800 per annum and Rs 4,000 for a sum assured of Rs 50,000.
The insurance policy however, will not cover preventive medication for HIV treatment.
What it proposes to do is to pay out the sum assured as a lumpsum, when the HIV patient is diagnosed with aids. Sources at IRDA say that they are still studying the viability of the product.
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