TATA AIG unveils MediCare Select to expand retail reach

TATA AIG General Insurance Company announced the launch of MediCare Select, a next-generation health insurance solution aimed at strengthening its retail health portfolio and expanding healthcare access across India. 

As part of this broader strategy, TATA AIG aims to expand its hospital network from 11,500 to over 14,000 facilities by FY27. The company also anticipates that Tier 2 and 3 markets will drive 35 per cent of its health insurance portfolio in the same duration, up from the current 26 per cent, reflecting its growing focus on underserved regions and deeper retail penetration.

MediCare Select is part of the company’s broader ambition to expand in both urban and semi-urban markets by offering flexible and inclusive coverage options. 

The Indian health insurance sector is undergoing rapid transformation, growing at an estimated 18 per cent CAGR, driven by rising medical costs, increasing health awareness, and the rise in lifestyle-related conditions. India’s general insurance market is expected to touch ₹5.6 lakh crore by FY31, with health insurance becoming a key enabler of accessible and inclusive healthcare.

Key features of MediCare Select:

• Restore infinity plus: Offers unlimited restorations of the sum insured during a policy year for both related and unrelated ailments. 
• Infinite advantage: On selecting this, one claim during the lifetime of the Policy is covered without any sum insured limit. 
• OPD covers: OPD Care rider to cover outpatient treatments including consultations, dental care, teleconsultations and vision care.
• Consumables benefit: Option to cover non-payable hospital consumables like crepe bandages, gloves, and slings — often forming a substantial percentage of total hospital bills.
• Maternity care: Option to select maternity coverage including delivery complications and vaccinations of the newborn baby in the first year — with an option to reduce the waiting period from 24 months to 12.
• Professional benefit: 7.5 per cent discount on premium for salaried individuals.
• Early access: For single premium multi-year policies, the Sum Insured of the policy period shall be available for utilisation anytime during the Policy Period.
• Young family benefit: 10 per cent discount for families where the eldest member is 40 or younger.
• Daily cash benefits: Provides ₹1200–₹1500 per day for opting for twin or multi-sharing accommodation, without affecting base sum insured or bonus.
• No claim bonus: Offers 50 per cent bonus per policy year (max up to 100 per cent), with 50 per cent reduction in case of a claim. 

Recently, TATA AIG also introduced over 70 riders and benefits as part of its health portfolio, laying the foundation for dynamic and new-age modular products.