Premium Return Health Policy - a new product ,what it will be

Mint dated 9 th Nov ,2007 has covered a news item on Premium Return Health Insurance Policy ,which is going to be introduced by ICICI Lombard in near future.As details are not available therefore guess work is going on.

"We have been always hearing from Insurance co's that claims being lodged under health insurance are 180% of premium collected and the claims paid are 140% of premium collected said S K Sethi Vice President & Director of Insurance Brokers Assn of India.Return of premium can be possible only in the form of discount at time of renewal in case no claim is lodged during the year.Alternatively premium to be charged will be higher -it means product under Premium Return Policy will be suitable for High networth individuals 'he said.

Comments are invited.Especilaly from readers ,who might be from USA and are familiar with this type of product.