February 26 2016, 17.22 PM IST || Pocket News Alert
A cashless payment facility for medical expenses with ICICI Prudential Savings Fund
Highlights of the Launch:
• The Medical Advantage Feature is a first of its kind initiative in the MF industry and at no additional cost
• A cashless payment facility for medical expenses through mutual funds
• Introduced in collaboration with Vidal Healthcare Services Pvt. Ltd.
• This facility is available irrespective of health insurance status
Benefits of the ‘Medical Advantage Feature’:
• Cashless access to any empanelled hospital
• 24/7 access to a doctor on phone
• Up-to 25% discounts on medical tests and hospitalization
• Access to a neutral second opinion
• Advice on which hospital to choose
Chandigarh, February, 26, 2016: ICICI Prudential AMC in collaboration with Vidal Healthcare Services Pvt. Ltd. has introduced a medical advantage feature that allows investors to pay for healthcare expenses through their investment in ICICI Prudential Savings Fund.
This is a first of its kind initiative in the mutual fund industrywherein investors can seamlessly use their investments in ICICIPrudential Savings Fund to pay for hospitalization costs across India. This facility is available irrespective of health insurance status.
The investor can avail this facility through any of Vidal Health’s Group level provider network covering 800 cites, with over 6,000 hospitals, 1,500 Diagnostic centers in addition to Doctors, Specialists, Counselors, Nutritionists and Trainers empaneled.
Speaking on the occasion, Nimesh Shah, MD and CEO, ICICI Prudential Asset Management Company said, “A majority of people consider liquidity as a safer option and believe in holding cash, apprehending emergency. Now using MF investments, investors can get a cashless access to empanelled hospitals for their medical expenditures 24/7; and, can also achieve capital growth when money is not needed, thus making it a win-win solution for them.
The feature is currently available with ICICI Prudential Savings Fund which is an open-endedincome fund that invests in debt and money market instruments of various maturities with an aim to maximise income while maintaining an optimum balance of yield, safety, and liquidity. It is managed by Rahul Goswami and Aditya Pagaria.
Investment Approach:
· Invests in reasonable yielding debt instruments
· Lower portfolio duration to limit volatility
· Maintains high liquidity
