Health Insurance Comprehensive Cover: With rising medical costs, the need to get a health insurance cover for a higher amount is also rising. Also, not all health insurance plans come with comprehensive coverage to address hospitalization needs under varying circumstances. For all those looking to buy a health insurance plan that will meet their requirement under most events, ‘Health Premia’ from Max Bupa, a standalone health insurance company may be worth considering. In ‘Health Premia’ one has the option to buy a health cover of up to Rs 3 crore. The plan also addresses the daily health needs of people including in-patient hospitalization, OPD, diagnostics, personalized health coaching, 2nd medical opinion, pharmacy and diagnostic services and many more. Further, as against the industry norm of about 24-48 months of a waiting period, Health Premia has a one-year waiting period for specified diseases which is one of the lowest in the industry.
As per the company, the Health Premia is a one-of-its-kind product in the industry with features such as health checkup for adults as well as children from the very first day, worldwide maternity cover and newborn cover without any additional premium from the day baby is born till policy year-end. This product also provides coverage for up-to 19 relationships with an individual sum insured for everyone and a floater cover which is common to all.
After buying this plan, for those who travel abroad, buying medial insurance or travel cover separately may not be required. The plan offers international coverage for specified illnesses and medical emergencies, along with in-built travel insurance coverage. The plan also covers advanced treatment methods such as Cyber knife and Robotic surgeries, Laser treatment and Bariatric surgery.
Health Premia offers features such as Premium Waiver which allows the premium for next year to be waived off, if the proposer of policy is diagnosed with a specified illness during the policy period. Health Premia also brings loyalty additions which gives a 10 per cent increase in the base sum insured annually even if the person has claimed in the previous year.
Key features of Max Bupa Health Premia
Higher Coverage Options: Based in the city of residence, one’s medical history etc, one can keep a sum insured up to Rs 3 crore.
International Coverage Extension: In case of travel abroad, one gets an option to double the international sum insured to Rs. 60 lakh (Gold plan) or Rs. 2 Crore (platinum plan) to cover all the international travel needs. In case one is travelling to USA or Canada, you can opt for enhanced geographical coverage.
Worldwide Maternity Benefit Cover: One gets a maternity benefit worldwide post serving a waiting period under platinum plan. In addition to this, the newly born gets covered under Newborn Baby benefit from the very first day, which includes defined vaccinations as well.
Re-fill Benefit: There are times when one may fall ill and get hospitalized for more than once a year. In such unfortunate times, when the same or different illness strikes in a policy year, the base sum insured is refilled and made available again.
Weight Loss (Bariatric) Surgery: The plan covers the expenses for medically prescribed Bariatric surgery post serving a waiting period, considering the BMI is over 35.
Laser surgery cover and CyberKnife/Robotic surgery: The plan covers expenses incurred, post serving a the waiting period while undergoing a laser-assisted surgery, or procedures using cyberknife and robotic surgeries with a specified co-payment.
Premium Waiver: If an insured policyholder is diagnosed with a specified illness during the policy period, then the premium for next year will be waived off.
Loyalty Additions: Even if a policyholder has claimed in the previous year, there is a 10 per cent increase in the base sum insured annually, subject to a maximum of 100 per cent of the base sum insured.
Critical Illness Cover: The plan provides an optional coverage against 20 major critical illnesses like Cancer, Open Heart surgery, Kidney Failure, Strokes etc. Upon the first diagnosis of any of these illnesses, one gets an additional coverage as a one-time lump sum payout. This payment will be over and above your hospitalization expenses which are catered through the base policy.
Hospital Cash: Some hospital expenses may not be a part of the coverage. The plan has the option to add Daily Hospitalization Cover to cover all such expenses including that your attendants may incur at the hospital.
To Sum Up
Making a comparison of such comprehensive health insurance plans, in terms of premium, may be a futile exercise as different plans will offer varying benefits and have different features. See, the different versions the plans offer and check the possibility of occurrence of medical events in your life. For example, if you are not a frequent traveller abroad, the features provided may not be of much help. Choose a health insurance plan based on your specific requirements and do not merely go by the premium.
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Source: Financial Express
