Saturday, March 14, 2015

Product Review: 'Health Companion' Plans By Max Bupa

SPONSORED: Let’s accept the fact that buying a health insurance policy isn’t on the priority list of many, and till 2013 I belonged to this cadre of visionaries. I woke up from this deep sleep quite recently when I was admitted in the ICU, and had to pay huge bills (almost 70 thousand for 7 days in ICU) before the discharge. This made me realise the importance of owning a health insurance policy, albeit in a much harsher way.

While finally picking up a health insurance policy I also realised that this task wasn’t easy, especially with a market full of options.

If you are sailing in the same boat and are confused about the best health insurance policy for you and your family, you can begin by reading this article. Once you have understood your requirements, you may want to look at Health Companion by Max Bupa, which is an upgraded plan, introduced by the company recently.

Health Companion By Max Bupa is an ideal health insurance policy for both new and seasoned customers and currently offers two optimal plans to choose from, which includes-  an Individual and a Family plan. The below mentioned chart depicts the bifurcation and one can pick up the plan that best suits  their requirements.               

While a family floater plan is more suited to a nuclear family (supports upto 2 adults and 4 children) you can opt for a family first plan in case yours is a joint/ bigger family .Here’s a quick look at its leading-edge features.

Flexible Sum Assured Option - Depending upon the number of your family members and their requirements, one can choose anywhere between 2 lacs To 1 crore of sum assured. Unlike other policies in the market a single policy can be used to cover as many as 19 relationships of the same family (under family first plan) making it an extremally viable option for many.
Simple Hospital Accommodation - An illness can bring out the worst in a patient and that’s when one prefers a disturbance free room. Many a times this isn’t possible due to a cap on room rent. With Health Companion this aspect has been eased out since the policy offers rooms without any capping and one can choose any accommodation up to the base sum assured within their policy.

No Pre and Post Hospitalization limits - Just like the capped accommodation, many health insurance policies have a cap on pre and post hospitalisation expenses, however with Health Companion one can use it till the base sum assured. Apart from this, the policy also covers medical expenses of the patient, 30 days before admission and up till 60 days post discharge.

Auxiliary Benefits - Health Companion policy various auxiliary benefits which include the following:

- Vaccination in case of an animal bite.
- Health check-up for you and your family on renewal of your policy.    

In patient treatment in case of alternate medical treatments like Ayurveda, Unani, Siddha and Homeopathy. Patients can raise a claim up to the base sum assured.        

Emergency ambulance facility, which is available for both network and non-network hospitals for an amount up to Rs, 3000.

Designed With An Eye For Elderly - Finding a conducive plan for the elderly isn’t easy. Most companies either offer a plan with limited benefits or ones that knock of geriatric population completely. The Health Companion plan however is an exception to the rule since:   
  • It offers ‘any age enrollment’ feature allowing senior citizens above 65 years to also buy this policy.
  • A country where diabetes, hypertension and heart conditions aren’t uncommon, this policy also allows customers suffering from these disorders to avail complete benefits of this policy, albeit with a loading.   
  • Many health insurance policies have extended waiting period as far as pre-existing diseases are concerned. 
  • This gets tricky when clients are unable to savour its benefit despite a policy in hand. Such scenarios cause un-necessary financial burden and stress for the customer. Keeping such situations in mind, Max Bupa has reduced its pre-existing waiting period from 4 years to 3 years, for all the policies with a sum assured of 5 lakh and above.
  • The policy also has removed its co-payment charges (which were around 20% earlier) for individuals above 65 years, making it the best choice for customers now.
Apart from the above mentioned benefits the Health Companion plan from Max Bupa offers additional options that ensure an anxiety free mind even if any major illness strikes your household. These include the following:      

No Claim Bonus - The company offers you an increase of 20% sum assured in case of every claim free year, however only amounting to the base sum assured. This increase in sum assured remains intact, even if any claim is raised in the future.

Refill Benefit -In case a certain disease exhausts the base sum assured and no claim bonus (partially or completely) as well, policy holders have the option of ‘refilling’ the tank for an additional sum assured provided that it is equal to the existent sum assured and is used against an unrelated illness.    
Flexible Two Year Term - Evaluating health insurance policies every year is quite dreadful and therefore customers can choose a two year stretch with this product. What’s  more, the company also offers a 12.5% discount on the second year premium for such policies. The policy also offers refund even if you cancel your policy after 180 days or up to 545 days .

Buying a health insurance policy is vital in today’s day and age. Individuals who have taken this decision have been smart in ensuring the best for their families.

Have you bought your policy yet? Would you want to look at Health Companion from Max Bupa? Do drop us a line and we will be glad to guide you.

Health Companion Plans Brochure
Health Comanion Plans Proposal Form

No comments: