Max Bupa's new ‘ReAssure’ health plan offers multiple claims in a year

Standalone health insurer Max Bupa has launched a comprehensive health insurance plan called 'ReAssure' that will allow multiple claims in a single year.

The company said in a statement that this product will allow consumers to make as many claims as required for themselves or for family members covered in the same policy, for same or different illness in a year, at no additional cost. Here, a single claim under ReAssure benefit will be payable up to the base sum insured amount.

The sum assured ranges from Rs 3 lakh to Rs 1 crore depending on the need of the customers. It is available as an individual policy and also as a family floater.

Bhabatosh Mishra, Director-Products, Underwriting & Claims, Max Bupa Health Insurance told Moneycontrol that especially in cases of coronavirus (COVID-19) outbreak where more than one person in the family could get hospitalised, this product could come handy.

The premium for a Rs 10 lakh individual cover for a 35-year-old would be Rs 9,590. For a family floater with two adults and one child (oldest member at 35 years of age) will be Rs 18,489 for a Rs 10 lakh cover.

Mishra said the policy is cashless and will also offer discounts for staying fit. Those clocking a certain number of daily steps will be offered up to 30 percent discount on renewal premium and this will be tracked by the Max Bupa Health Application.

In this policy, in case one person in the family is diagnosed with COVID-19 or any other disease covered in the policy and needs hospitalisation, then he or she can claim coverage up to Rs 10 lakh along with the ReAssure benefit getting triggered.

The next claim onwards an additional amount of Rs 10 lakh per claim for as many number of claims as needed will be available for any insured or any illness in the same year. ReAssure benefit will be triggered from the first claim, even if two family members get hospitalised at the same time.

The product comes with a ‘Booster Benefit’ that doubles the sum insured in just two claim-free years. If no claim was made during the year, then for the next year the sum insured will increase by 50 percent. If in the second year also there is no claim, then there will be another 50 percent increase in sum insured which amounts to a total 100 percent increase in sum insured in just two years.

Coverage for non-payable expenses like personal protection equipment kit, gloves, oxygen masks and conveyance can also be availed by paying an additional premium.

Moneycontrol had reported earlier how customers are being charged for infection control of COVID-19 by hospitals. Due to the rise in coronavirus cases, hospitalised patients are having to shell out additional money for PPE kits and other allied products.

Krishnan Ramachandran, MD & CEO, Max Bupa Health Insurance said the Max Bupa Covid-19 survey shows 71 percent people now realise the benefits of health insurance and 57 percent of people have a strong preference for comprehensive health insurance plans for protection against any unforeseen medical emergencies. "I strongly believe that this product will help customers realize the true benefits of health insurance during COVID 19 and beyond. He added that the product will be relevant during the COVID-19 outbreak," he said.

This policy allows customers to choose treatments like robotic surgery, deep brain stimulation, oral chemotherapy, stereotactic radio surgeries, stem cell therapy and many more. Besides covering pre and post hospitalization expenses, ReAssure will also cover all types of day-care treatments including angiography, dialysis and radiotherapy.