Private-sector lender, HDFC Bank has unveiled a co-branded medical benefits card with Apollo Hospitals in order to avail medical allowances to their employees with insurance cover for accidents, said the media report.
With the HDFC Bank-Apollo Medical Benefits Cards, corporates can load the specified allowance onto the card each month, which can be used by employees for medical expenditure Visa/MasterCard outlets.
The bank claimed that this is the first-of-its kind product in the country.
"The HDFC Bank-Apollo Medical Benefits Card offers an easy and convenient way for corporates to save costs and eliminate administrative issues while disbursing medical allowances," HDFC Bank., Senior Executive Vice-President, Parag Rao said.
According to the report, this card provides a free accidental death insurance of Rs 3 lakh and accident hospitalisation insurance of Rs 30,000 apart from discounts at Apollo network including Apollo Hospitals, Apollo Pharmacies, Apollo Clinics and Apollo White Dental.