Bengaluru, 18 March 2025: Galaxy Health Insurance, India’s youngest standalone health insurer, is redefining personal accident coverage with the launch of ‘Galaxy Personal Accident Shield’, a thoughtfully designed policy that goes beyond financial protection to offer support, stability, and peace of mind for families in distress.

With flexible family floater plans, the policy provides coverage of up to ₹75 Lakhs. In Individual plans, the maximum sum insured will vary depending upon the earning capacity of the insured person. A standout feature in the multi-individual and family floater category is the premium waiver benefit, if the insured person tragically passes away due to an accident, their family is granted a one-year premium waiver, ensuring they can focus on rebuilding their lives without immediate financial stress.

Mr. G. Srinivasan, MD & CEO of Galaxy Health Insurance said, “True innovation in insurance is not just about products, it is about understanding human needs and responding with empathy. Financial security in times of crisis is not a privilege; it is a necessity. Yet, many families remain unaware of how personal accident coverage can be a lifeline in moments of loss. With Galaxy Personal Accident Shield, we are ensuring that no family faces these challenges alone.”

The need for such protection is clear. As reported by the Ministry of Road Transport and Highways in their Road Accidents in India 2022 report, the country experienced a significant number of road accidents that year, leading to a considerable loss of lives and numerous injuries.

Galaxy Personal Accident Shield is more than just an insurance cover, it is a holistic safety net. Floater policy covers not just Accidental death, but also Permanent total disablement, Permanent partial disablement and offering other benefits that includes educational support to help families, Vehicle and / or Residence Modification including home lift and Cost of artificial limbs to regain stability.

Whereas Individual policy covers Accidental death, but also Permanent total disablement, Permanent partial disablement and Temporary Total Disablement, Special beds, Reconstructive surgery, Dental implants following an accident and many more. The policy also comes with attractive optional covers for Individual policy such as Enhanced Education Benefit that provides coverage maximum of Rs 10 Lakhs for the dependent children, Loss of EMI/Loan Protector/Loss of Income Covers up to 6 EMIs, with a maximum of ₹25,000 per EMI, for helping manage financial obligations during recovery and Comprehensive medical expenses extension due to accidental grievous injury ensures complete medical care for accidental injuries and much more.

Galaxy Health Insurance launched its first flagship product Galaxy Promise in September 2024 and in less than five months, the company insured 31000+ lives. The company is expanding on its product portfolio by adding critical covers and riders and deepening its presence across the four southern states – Tamil Nadu, Karnataka, Andhra Pradesh and Telangana.

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Bengaluru, 04 March 2025:  Galaxy Health Insurance, India’s youngest standalone health insurer has launched Galaxy Top-up, a cost-effective product to enhance health insurance coverage. Designed to offer extra protection at a lower cost, Galaxy Top-up ensures policyholders have access to quality healthcare. It is India’s first top up plan that provides Premium Promise, a feature that guarantees no premium hikes until policyholders make a claim or turn 55 years of age, whichever comes first. This feature is available as an optional cover.

Unlike traditional health insurance plans, Galaxy Top-up offers a higher sum insured, ranging from ₹5 Lakhs to ₹2 crores. The plan provides comprehensive coverage and flexibility, including hospitalisation, surgeries, with minimum waiting period of one year, and supports advanced treatments.

Nanotechnology: Covered up to 25% of sum insured. This involves using nanomaterials and nanoparticles to deliver drugs to the specific parts of the body, diagnose diseases, and help in wound healing by regenerating tissues to help in wound healing. This technology enables more precise and effective treatment while minimizing side effects. Nanotechnology plays a pivotal role in the medical field, particularly in diagnostics, treatment, wound healing and regeneration. This includes antibiotic or drug delivery systems with site-specific treatment (targeted drug delivery) in areas such as Cancer treatment, neurodegenerative disorders and surgeries to reduce complications. This is available first time in the industry. 

Consumables: Covering 71 consumables, including admission, record, and insurance processing charges that reduces out-of-pocket expenses. This is available first time in the industry. 

ICU including Digital ICU: Modern technological gadgets integrated with medical expertise. This is available first time in the industry. 

Durable Medical Equipment/CAPD: Covered up to 10% of sum insured or Rs 1 Lakh, whichever is less. This is available as an optional cover. This is available first time in the industry. 

Room rent Enhancement: Insured can opt for any room type. This is available as an optional cover.

Premium Promise: To aid in managing healthcare expenses, these plans freeze premium rate up to age 55 years or until a claim is made. This will encourage the customers to continue the insurance cover and is first top – up plan that has this feature in the country. 

Coverage for Delivery expenses: This includes C-section and normal delivery, along with antenatal scans, supports maternal health.

Coverage for modern treatments, including organ transplantation and bariatric surgery, ensures access to cutting-edge medical care.

According to the ‘Health Report for Corporate India 2023’ , India’s medical inflation is soaring at 14%. This is significantly impacting over 90 million individuals, with healthcare expenses exceeding 10% of their total income. Top-up plans like Galaxy Top – up serve as a financial shield against rising medical costs, offering affordable yet extensive coverage.

“Health insurance is no longer a luxury—it’s a necessity as health issues in individuals continue to pose significant challenges. Many policyholders now prefer top-up plans over additional basic covers because they are more budget-friendly and offer greater benefits. Keeping this in mind, we have introduced ‘Galaxy Top-up,’ a smart and cost-effective solution that ensures access to advanced medical care without financial stress,” said Mr. G. Srinivasan, MD & CEO of Galaxy Health Insurance

Galaxy Health Insurance has already covered 10000+ lives since launching its Galaxy Promise product and remains committed to providing affordable and comprehensive health insurance solutions. The company has strengthened its presence across Andhra Pradesh, Telangana, Karnataka and Tamil Nadu with its headquarters in Chennai.

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Mr. G. Srinivasan has been appointed as the MD & CEO of the Company. Mr. G. Srinivasan is a prominent figure in the insurance industry and has forty years of experience in various aspects of the Insurance landscape. He has held leadership positions in United India Insurance Co. Ltd., New India Assurance Co. Ltd., and to his credit, it was during his tenure that New India went public. He has been the Director of various Boards including GIC Re.  He was also the Chairman of General Insurance Council and was also the Director of National Insurance Academy, Pune.

The Board currently also comprises of:

The Chairman, Dr Sai Satish, a renowned Cardiologist and a pioneer in the field of non-surgical heart valve repair/replacement procedures who has championed heart health and healthy living for almost 3 decades.

And Director, Mr. Sudarshan Venu, who is currently the Managing Director of TVS Motor Company. He is also the Managing Director of TVS Holdings Ltd, the holding Company and Chairman of TVS Credit Services Limited, the Non-Banking Finance arm of the group.

The Company has taken it upon itself to provide the best of services; and services to the insuring public will be the first priority of the Company.

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