Equitas Small Finance Bank (SFB) announced on Monday that it has partnered with Cholamandalam MS General Insurance to launch a women-centric health insurance policy, Chola Sarva Shakti.
The product was launched to give Indian women good health and finances, Equitas SFB said in a statement.
Women are more susceptible to heart disease, pregnancy, reproduction, cancer, and even high blood pressure and depression than men. Citing a survey, the SFB said that out of 1,009 women, only 39% had health coverage.
The Chola Sarva Shakti Policy initiative aims to provide women with an independent and comprehensive policy, which secures their future against various unforeseen health situations.
The benefits of the policy include insurance for personal accident or any health crisis, sick pay and maternity cover, child education support and EMI benefit to the insured in dismissal or temporary suspension of employment due to health problems, among others.
Murali Vaidyanathan, Senior President and Country Head- Branch Banking – Liabilities, Products and Wealth, Equitas SFB said, “The Chola Sarva Shakti Policy initiative aims to provide women with an independent and comprehensive policy, which secures their future against various situations of unforeseen health. “
Chola Sarva Shakti is a health insurance product created after careful study of women’s medical needs, said V Suryanarayanan, Managing Director of Cholamandalam MS General Insurance.
“The initiative aims to provide women with a higher level of insurance and assistance in the event of a medical crisis,” he added.
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