Center for Health Market Innovations (CHMI)

Programs

NIDAN Microinsurance

last updated Jun 14, 2012
  • Men, Women

Overview

Implementation Partner(s): 
LIC, VimoSEWA
Legal Status: 
Private (not-for-profit)
Year Launched: 
1999
Stage: 
Existing/expansion stage

Funding

Primary Source of Funding: 
Membership/subscription fees

Scale

Number of Clients Served: 
30,000 as of December 2006
Summary: 

NIDAN covers disease, accidental death and disability, life, and property. The product is underwritten by LIC and VimoSEWA.

Key program components: 

The individual, voluntary insurance product covers disease, normal death, accidental death, accidental death of husband, loss of house and means of business, and complete and partial disability. Membership to the NIDAN insurance programme is open only to the members of NIDAN. The product only covers the policy holder and spouse.Currently, the majority of the members (75%) of the program are women.

Key exclusions include children, the elderly, and individuals with pre-existing conditions.

The premium is US$2.77 - US$6.11 (Rs. 125-275) per year depending on the level of benefits (as of 2010).

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