· ReAssure benefit:Triggered by the first claim, this benefit has unlimited sum insured. Customers can claim unlimited number of times under this benefit. Any one claim can be upto the base sum insured.
· No Sub-Limitsapplicable: No capping for treatment of common health conditions like cataract, joint replacements and more.
· No sum insured and age-based pre-policy medical check-up: Pre-issuance medical check-up is not mandatory.Seniors can take this policy without having to undergo any sum insured and age-based pre-policy medical check-up.
· Annual Health Check-ups from day 1: No linkage to claim or renewal. Customers can claim for health check up from the first day of policy itself.
· Safeguard Add On: 100% coverage for non-payable expenses such as PPE Kit, Gloves, Oxygen masks, Conveyance charges and more. Inflation adjusted increase in base sum assured every year, with no impact on No Claims Bonus if claims in a policy year are up to INR 50,000.
· All Day Care Treatments Covered: Coverage for expenses incurred during Day Care Treatments requiring more than 2 hours of hospitalization, including angiography, dialysis, radiotherapy and more.
· Reduce co-payment or swap it with deductible options: An optional benefit to reduce co-payment from 50% to 40%/30%/20%. Alternatively, customers can opt fordeductible and enjoy a co-payment free health cover.
· Easy to understand: Policy terms and conditions written in simple, plain manner without much jargons.
Max Bupa – one of India’s leading standalone health insurers, today announced the launch of ‘Senior First’–a tailor-made planfor senior citizens, designed to provide unconditional support and care to seniors in their golden years. Senior First plan includes coverage options of up to 25 lacs with no sub limits on common health conditionslike cataract, knee replacement, etc. To help customers overcome the current challenges faced while purchasing health insurance for senior citizens and to provide them ease of policy issuance, the Senior First plancomes with several attractive features including no mandatory pre-issuance medical tests, heath check-ups from day 1, hassle free claims process and more.
One of the highlight feature of Senior First product is the ReAssure benefitwhichis triggered with the first claim itself and is an unlimited sum insured benefit. Any one claim paid from this benefit can be up to the base sum insured. One can make as many claims as required in the same policy year, for same or different illnesses.In a nutshell, this feature will enable senior citizens to never fall short of coverage which is critical to protect against unforeseen medical expenditure towards all kinds of diseases, including Covid-19. Even in case of critical illnesses like kidney failure, dialysis or cancer, when patients often need hospitalization multiple times in the same year.Unlimited coverage in the product will prove to be extremely useful.
Commenting on the launch of Senior First, Mr. Krishnan Ramachandran, MD and CEO, Max Bupa Health Insurance, said,“Our product has been designed to address the current gaps in providing quality healthcare services to senior citizens. Currently, senior citizens face several challenges while purchasing health insurance. This includes undue hassles of going through mandatory medical tests, policy denial due to chronic pre-existing conditions, high premium, inadequate coverage, high co-pay options, amongst others.
Senior First plan has been carefully designed keeping in view the financial security needed for seniors amidst growing medical inflation. We realize that people want to be financially secured in these difficult times, hence a truly cashless product will ensure there is no financial burden on them once they opt for this policy.’’
Senior First is a truly cashless product and with Safeguard benefit offers 100% coverage for otherwise non-payable expenses such as PPE Kit, Gloves, Oxygen masks, Conveyance charges and more.The product also covers expenses incurred during allday Care Treatments, requiring more than 2 hours of hospitalization, including angiography, dialysis, and radiotherapy. Senior First plan also includes No Claim Bonusbenefit to reward customers for staying healthy. Additionally, policy buyers can also choose their own co-payment as per their financial health and can swap co-payments for deductible.
Dr. Bhabatosh Mishra, Director – Products, Underwriting & Claims, Max Bupa Health Insuranceon the launch said,“Seniors are one of the most impacted sections of the country when it comes to health. Unfortunately, the need is highest for this age grouphowever affordability is atits lowest. At that age,when continuous income has stopped, many tend to compromise on their health, given the high premium and other related challenges. The Senior First plan will enable senior citizens to get comprehensive coverage which is critical to protect against unforeseen medical expenditure towards all kind of illnesses, including Covid-19. It’s also a great way children can protect their parents against unforeseen health challenges’’
Max Bupa’s Senior First plan is available in Gold and Platinum range, with sum insured ranging from INR 5 lakhsup to INR 25 lakhs.