Attractive health insurance policy by Union Assurance

Union Assurance notched up another first in the insurance industry with the launch of Union Health Deposit, the only first and only health insurance policy in the market that pays interest on premiums paid, while providing coverage for surgical and hospitalization expenses.

Marina Tharmaratnam	Rukman Weeraratne	Pushpakumar Gunasekera

"Union Health Deposit is the ideal product for individuals who want insurance to meet unexpected surgical and hospitalization expenses," noted Mrs. Marina Tharmaratnam, CEO. The policy covers an individual for a 10 year period, and is available in 3 options to suit the lifestyle needs and financial capacity of all segments of the market."

Union Health Deposit covers more than 200 surgeries. Policyholders will also receive a fixed sum on a daily basis in case of hospitalization. In addition, a component of the premium paid is accumulated in a Medical Assistance Account, which earns dividends monthly.

Part of the funds in the Medical Assistance Account could be withdrawn to meet additional medical expenses soon after completing the first year. If the funds are not utilized or only partially used, the monies lying in the account can be withdrawn at the end of the policy period.

Each policyholder will have his or her own account maintained separately.

"One of the key features of the product is that the money lying to the credit of an individual Medical Assistance Account will earn dividends on a compounding basis," stated Mr. Pushpakumar Gunasekera, General Manager Actuarial. "In addition to the health related benefits, the product provides a financial safety net in case of total and permanent disability or death, including an in-built facility for premiums to be waived in case of disability, without limiting the medical assistance benefits for the rest of the policy period."

Union Health Deposit, which combines the benefits of health insurance with the features of fund accumulation, makes it an attractive proposition for individuals who have no medical insurance coverage, or for persons who require an additional coverage to meet the escalating costs of health and hospitalization in Sri Lanka.

"At a time that most companies are reluctant to offer health insurance benefits to individuals, Union Health Deposit is an unique product which meets an urgent need in the market and premium rates will remain unchanged for the entire term of the policy irrespective of policyholder's claims experience," asserted General Manager Marketing and Distribution, Rukman Weeraratne.

So, invest healthily in Union Health Deposit. Because health makes wealth!