Pak­istan in­tro­duces world's first car­diac in­sur­ance

The Pak Banker - - COMPANIES/BOSS - Muham­mad Yasir

Pak­istani com­pany Ju­bilee Life In­sur­ance launched the world's first in­sur­ance prod­uct to treat car­diac dis­eases for in­di­vid­u­als which have been in­creas­ing alarm­ingly in the world in­clud­ing Pak­istan but lack of fi­nan­cial re­sources cost lives of the peo­ple.

Hu­may­oon As­ghar, Head of Prod­uct and Pro­gram at Ju­bilee Life In­sur­ance said the ris­ing health is­sues of the peo­ple mainly painful and costly car­diac dis­eases in the so­ci­ety com­pelled our in­sur­ance ge­nius to de­sign a prod­uct which gives fi­nan­cial cover to in­di­vid­u­als in case of heart health is­sues.

Car­diac in­sur­ance is one of its kinds not in Pak­istan but across in the world in­tro­duced by Ju­bilee In­sur­ance which is an in-built fea­ture of a live in­sur­ance prod­uct of min­i­mum Rs 50,000 hav­ing ad­di­tion charges be­gin from Rs 2,500 de­pend­ing on the in­di­vid­ual age.

Charges var­iedly in­creased from age above 35 years be­cause of an ob­vi­ous in­crease in the risk of heart dis­eases but the in­sur­ance is pro­vided to 65 years old per­sons with cer­tain con­di­tions, he added. Pa­tients with se­vere heart is­sues are not cov­ered but those with lit­tle is­sues of choles­terol and blood pres­sure could be given in­sur­ance cov­er­age sub­ject to ex­am­i­na­tion of com­pany's doc­tor. The in­sur­ance of­fer Rs 1 mil­lion to our clients for the treat­ment when­ever he is rec­om­mended to un­dergo a heart surgery or pro­ce­dure. Pa­tients are re­quired to pro­vide doc­tors ad­vice which will be re­viewed by panel of our doc­tors on fast track ba­sis to is­sue cov­ered amount.

Ac­cord­ing to our pol­icy, the com­pany will re­lease the re­quired pay­ment im­me­di­ately to the clients with­out de­duc­tion of prin­ci­pal amount of their in­sur­ance plan but we will never ques­tion him about his pri­or­ity to un­dergo treat­ment from a par­tic­u­larly hos­pi­tal.

The pa­tients, wish­ing to un­dergo treat­ment abroad, will not be ques­tioned by the com­pany. Even, he/ she will not be asked to pro­vide bills after­ward nei­ther it will be asked to re­im­bursed amount to com­pany af­ter treat­ment. But it is a plus point of prod­uct that the re­main­ing amount could be uti­lized for af­ter­care pur­poses, check­ups and medicines. He said the in­sur­ance prod­uct will keep in­sured sav­ings of the per­son for this tar­geted ob­jec­tives for meet­ing ex­penses of fam­ily mem­bers par­tic­u­larly for chil­dren education and mar­riages.

The num­ber of heart pa­tients is grow­ing alarm­ingly in Pak­istan but the worst sit­u­a­tion in the coun­try is a young pop­u­la­tion ag­ing from 30 years to 40 years is fall­ing prey to car­diac dis­eases from var­i­ous rea­sons with no fi­nan­cial means at all for qual­ity treat­ment for the health is­sue which lasts for many en­su­ing years of their lives.

As per an es­ti­mate Pak­istani pop­u­la­tion has one of the high­est risks of heart dis­ease in the world with 30 to 40 per cent of all deaths are due to car­dio­vas­cu­lar dis­eases. The deaths due to car­dio­vas­cu­lar dis­eases or coro­nary heart prob­lem reached about 200,000 per year that is 410/100,000 of the pop­u­la­tion.

The care­less life­style with no phys­i­cal ac­tiv­i­ties and seden­tary of­fi­cial work, in­creas­ing trend of eat­ing out heav­ily greasy tra­di­tional dishes and fast foods and var­i­ous men­tal stress with lack of cop­ing up skills and treat­ment com­pounded in in­di­vid­ual lives which ul­ti­mately mul­ti­plies risks of heart dis­eases in so­ci­ety.

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