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BASIX Microinsurance

BASIX Microinsurance

For-profit

Year launched: 2009
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Existing or expanding (post-pilot)

Program Website

Country of Operation

India

Approach

Target geography

Target Population

Target income level

  • Bottom 20%
  • Lower-middle income (20-40%)
  • Middle-income (40-60%)

Health focus

  • Secondary/tertiary care

CHMI PLUS Status

Profile Completeness Rating
none
Monitoring & Evaluation Reporting

Learn more about the CHMI Plus Incentive Program Here

Summary

BASIX offers group and individual health insurance as well as hospital cash products for Royal Sundaram Finance Limited (BSFL) credit customers, non-credit customers, and spouses to insure against hospitalization due to illness or injury.

Key program components

BASIX offers three health products using a partner-agent model:

Grameen Arogya Raksha: Group health insurance product that covers all BSFL credit customers and their spouse.

Rural Personal Accidents: Retail policy providing coverage for death, permanent total disablement or inpatient hospitalization coverage to the insured arising due to accidental injury.

Rural Hospital Cash: Retail product which offers hospital cash benefit to the insured against hospitalized due to illness or accidental injury.

All policies cover the policy holder and spouse. As of March 2006, the premium for this product was US$8 (Rs 372) per year.

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