Health Financing

ICTPH-KGFS Catastrophic Health Insurance Product

Sudden health shocks coupled with subsequent hospitalizations and treatments result in a strain on the finances of a large segment of people in rural India. Nearly 20 million people fall below the poverty line each year due to health shocks. It was proposed to address this issue by designing a critical health cover for debilitating health shocks, in collaboration with the IFMR Trust.

IFMR Trust is a private trust whose mission is to ensure that every individual and every enterprise has complete access to financial services. Consistent with this strategy, IFMR Trust has promoted - IFMR Trust Holding Company (ITHC), which rolls out Kshetriya Gramin Financial Services (KGFS) for the distribution of financial services in rural India

This critical health cover will be provided free on enrolment to KGFS, and to all the existing members of KGFS. This health insurance product will provide cashless hospitalisation through a network of empanelled hospitals for a specific set of procedures and treatments which have low incidence but are expensive. This innovative health insurance product will also attend to transportation charges of the patient to the empanelled hospital by means of a payout.

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