Aegon Religare Life Insurance (ALRI) has proposed a new plan involving fixed benefit health insurance. This plan was launched in Chennai on Wednesday, and it offers the benefits and advantages of coverage of every surgery, payment guaranteed for claims and cashless facility in more than 3,000 hospitals.

The guaranteed payment facility that this fixed-benefit plan provides should have a vital role as it will do away with the surprise element from claims.

The distribution of this plan will be through regular channels and will also be made available on the internet. The company had even made plans to increase its insurance portfolio on the internet by launching more products in the health segment and unit-linked insurance plans. The advantages comprise of daily hospitalization cash, intensive care unit, surgical cash and critical illness benefits.

The least age at which entry can be made is 18 years and the maximum age is 70 years for the primary and secondary life insured as the terms of the policy is of 15 years for a regular premium and 3 years for a single premium. The value of the benefit rises by 10 percent for each negative claim year and the maximum increase can reach 50 percent.