The Life Insurance Corporation of India (LIC) hopes to earn Rs 50 billion ($1.3 billion) in three months from its

proposed unit-linked health insurance policy. The target is much higher than the Rs 32 billion earned by all

non-life insurers last fiscal (2006-07). The corporation is waiting for clearance for the product from the

Insurance Regulatory and Development Authority (IRDA). LIC is hoping to launch the policy by Jan 2008 and

achieve its ambitious target.

According to D…

And the last model is the linked model where the NGO collects the premium and passes it on to insurance companies like the New India Insurance or the National Insurance Company. Patients go to private providers usually and get care. Unfortunately, here it is not a cashless system so they have to pay the provider at the time of illness. The patient then submits the bills to the insurance company via the NGO and receives the reimbursement (usually after a lag period of 1- 3 months). Advantage o…