Standalone health insurer Galaxy Health Insurance Company Ltd has launched its first product, 'Galaxy Promise', targeting families seeking affordable health coverage.
Galaxy Health Insurance is jointly promoted by Venu Srinivasan, Chairman Emeritus of TVS Motor Company and Sundaram-Clayton Ltd, and V Jagannathan, founder of Star Health and Allied Insurance Company Ltd.
The Insurance Regulatory and Development Authority of India (IRDAI) approved earlier this year for Galaxy Health Insurance to commence its operations.
Galaxy Promise offers sum insured options ranging from Rs 3 lakh to Rs 1 crore. The product is available in multiple plans, including Signature, Elite, and Premier, providing flexibility to customers, the Chennai-based company said in a statement.
“At Galaxy Health Insurance, our ethos is rooted in the belief that healthcare should be accessible, dependable, and proactive for every family. We are committed to creating solutions that not only provide financial security in times of need but also encourage a culture of preventive health and wellness.
With these new plans, we aim to address the rising healthcare costs by offering a blend of stability, affordability, and comprehensive family support,” said G Srinivasan, Managing Director and CEO of Galaxy Health Insurance.