IITM alumni launches health insurance scheme

Updated on: Tuesday, August 03, 2010

With an aim to help thousands of alumni of Indian Institute of Technology, Madras (IITM) get high quality medical treatment at a very low cost, Alumni Association in IITM has launched a group health insurance scheme.

It has also tied up with a private bank to provide IITMAA-Kotak Mahindra credit cards for alumni and faculty.

Prof R Nagarajan, advisor, IITMAA said in a statement that there were several IITians in the age group of 60 to 70 and no insurance company was ready to provide insurance cover for them. Hence the Alumni Association joined hands with a private insurance company to provide group insurance scheme to the alumni and their spouse.

He said IITMAA and Kotak Mahindra Bank will jointly be providing credit card for all alumni and faculty from IIT Madras. "We already had a similar arrangement with another multinational bank some years ago which did not work. So we shifted to this bank," Nagarajan said.

The association has collected Rs 25 crore as funds from various alumni across the world and has funded several projects in the institute like construction of a girls hostel and setting up of centre of innovation.

IITM alumni launches health insurance scheme

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