New health insurance plan launched: 100% cashless coverage, even for COVID-19

Max Bupa Health Insurance has not too long ago launched a complete health insurance plan that gives limitless sum insured for themselves or for members of the family for any kind of hospitalization together with those associated to COVID-19. Named as ‘ReAssure’, this insurance coverage permits prospects to make as many claims as they need for similar or completely different sickness in a yr, at no extra price. A single declare will likely be payable as much as the bottom sum insured quantity, the corporate stated in an announcement.

In a nutshell, the policyholders won’t ever fall in need of protection. The coverage will likely be helpful particularly for the vital sicknesses like kidney dialysis or most cancers the place sufferers typically want hospitalisation a number of instances in the identical yr.
Moreover, the patrons will get extra ‘Booster Benefit’ that doubles the sum insured in simply two declare free years. If the patrons maker no declare throughout the first yr, then the sum insured will improve by 50% for the subsequent yr. If there isn’t any declare within the second yr, there will likely be one other 50% improve in sum insured which quantities to a complete 100% improve in sum insured in simply two years. “Additionally, in case a claim is made only for COVID-19 in a year, there will be no impact on Booster Benefit which means sum insured will not be impacted and will still increase by 50%; up to a maximum of 100%,” the corporate stated.
This product additionally affords 100% protection of medical bills, and covers the standard non-payable bills like private protecting gear package, gloves, oxygen masks, conveyance fees and extra, underneath the “safeguard benefit”, making certain prospects don’t need to incur any out of pocket bills as a consequence of hospitalisation.
Safeguard profit additionally affords inflation safety whereby the bottom sum insured will increase yearly on cumulative foundation based mostly on CPI inflation fee. Additionally, it additionally protects booster profit with no affect if claims in a yr are as much as ₹50,000.
Commenting on the brand new product, the Krishnan Ramachandran, MD & CEO, Max Bupa Health Insurance stated, “ReAssure Health Insurance promises our customers three things which are particularly relevant for our country in times of COVID 19– Assurance in the form of multiple customer benefits; Accessibility through our quality network across the country and Affordability through the various financial benefits available under the product.”
The coverage additionally affords a number of advantages — as much as 30% low cost on renewal premium underneath ‘Live Healthy’ profit simply by taking steps, 5% low cost for docs, 10% low cost if two or extra members are lined underneath a person coverage, 7.5% low cost on the premium of second coverage yr for a 2-year coverage time period is opted and extra 15% low cost on third yr’s premium for a 3-year coverage time period.
For COVID-19 associated hospitalisation, the preliminary ready interval of the coverage will likely be 15 days. The cashless claims processing will likely be achieved inside 30 minutes, the corporate stated. In case of a loss of life of an insured COVID-19 affected person, all non-payable gadgets may even be paid for, the insurer stated.

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