For-profitYear launched: 2009
Country of Operation
Target income level
- Bottom 20%
- Lower-middle income (20-40%)
- Middle-income (40-60%)
- Secondary/tertiary care
SummaryBASIX 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.
Revenue Sources: Membership/subscription fees
- Royal Sundaram Finance Limited (BSFL)For-profit