Galaxy Health Insurance launches Galaxy Promise Plan with coverage options from ₹3 lakh to ₹1 crore

Galaxy Health Insurance has launched its inaugural product, Galaxy Promise, offering a range of sum insured options from ₹3 lakh to ₹1 crore. The plan includes Signature, Elite, and Premier options, as well as enhanced optional covers, and is designed for families seeking affordable health coverage with extensive benefits. Galaxy Health Insurance, jointly promoted by TVS family member Venu Srinivasan and V. Jagannathan’s family, received its IRDAI licence earlier this year. The plans aim to address the annual 10-15 per cent increase in healthcare costs in India, driven by inflation, advanced treatments, and growing demand for specialised care.

The Galaxy Promise plan provides nine core benefits, tailored to support policyholders comprehensively. The Unlimited Restoration of Sum Insured feature allows policyholders to make multiple claims within a policy year, restoring the coverage amount after each claim, even for repeat hospitalisations. This ensures ongoing support for both new and recurring health issues.

The Premium Promise feature fixes the premium rate up to age 55 or until a claim is made, supporting policyholders in managing healthcare expenses over time. Galaxy Promise also covers consumables for 68 items and includes admission, record, and insurance processing charges, along with room rent and ICU coverage, including digital ICU support. There is no co-payment required.

A premium waiver is available for voluntary organ donors, who, if insured under the plan, can receive a two-year premium waiver for themselves and their immediate family members. Women-centric benefits cover a range of needs, including assisted reproduction treatment, in-utero foetal surgery, delivery, antenatal scans, and newborn care.

Additional benefits include a cumulative bonus covered up to 500 per cent of the sum insured. The Gala Fit program offers policyholders a proactive wellness initiative with customised wellness programs for adults and children, as well as premium discounts of up to 20 per cent on renewal.

The plan also allows for room rent enhancement and a reduction in waiting periods for specified diseases and pre-existing conditions, applicable to three-year Signature plan terms. Policyholders can opt to buy back the waiting period for pre-existing diseases, reducing it from 36 months to 24 or 12 months.

The plan’s coverage extends to a range of advanced health needs, including robotic surgery and pre- and post-hospitalisation benefits of up to 90 and 180 days in the Signature plan, offering support for families at every life stage.

G. Srinivasan, Managing Director and CEO of Galaxy Health Insurance, commented on the launch: “At Galaxy Health Insurance, our ethos is rooted in the belief that healthcare should be accessible, dependable, and proactive for every family. We are committed to creating solutions that not only provide financial security in times of need but also encourage a culture of preventive health and wellness. With these new plans, we aim to address the rising healthcare costs by offering a blend of stability, affordability, and comprehensive family support. Our goal is to empower individuals and families to manage their health with confidence, knowing they are supported through every life stage.”