Nabil offers Rs 300,000 health insurance for saving account holders

Published On: November 26, 2018 02:30 AM NPT By: Republica


KATHMANDU, Nov 26: Nabil Bank Ltd has launched 'NabilCare' scheme for its depositors to provide them health insurance coverage. The scheme in partnership with Metlife insurance company is the bank's biggest health care coverage to its customers. The scheme was launched by the bank at a press meet held in capital on Sunday.

The bank said that those clients who have savings accounts in Nabil Bank will have health insurance coverage of Rs 300,000 for treatment of 13 critical illnesses and additional coverage of Rs 75,000 in case of death from these diseases.

Individual customers between the age of 16 and 64 will be eligible to be covered in the scheme. However, they must have at least Rs 25,000 of daily balance in the saving account.

Anil Keshary Shah, the CEO of Nabil Bank, said that the scheme was aimed at providing financial relief to the customers who are diagnosed with life threatening diseases.

The scheme covers major cancers, strokes, first heart attack, serious coronary artery disease, heart valve surgery, primary pulmonary hypertension, end-stage lung disease, end-stage liver failure, fulminant hepatitis, kidney failure, coma, aplastic anaemia and major organ/bone marrow transplant, according to a statement issued by the bank.

"There is perception that a bank is an institution that lends you an umbrella when the weather is good and takes it back when it rains," said Shah. "But, contrary to such perception, we will be providing not only umbrella to our customers, but also the much-needed financial assistance whenever they are diagnosed with these critical illnesses."

All existing saving account holders with a balance of Rs 25,000 are already covered under this scheme, while new account holders will be covered under the scheme one month after the opening of the account.

This scheme will require saving account holders to maintain the minimum balance from the first day of Nepali month to the last day of month.

"The process is simple. They don't need to furnish any bills or receipts. Whenever our client is diagnosed with these diseases, they can come to any branch of the bank and present the doctor's certificate," said Shah. "The bank will facilitate all claims and settlement process. The compensation amount will be released within 15 days."

Nabil executives said that the bank have to pay an estimated Rs 120 to Rs 150 million annually in premiums to MetLife.Nirmal Kajee Shrestha, vice president and general manager at MetLife Nepal, said that the insurance scheme was a historical step from the bank's side. "Whenever people suffer with critical disease, many people visit them with sympathy. But the Nabil Bank has decided to go with both sympathy and financial relief," he added.


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