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Max Bupa Health Insurance Benefits
Claim Settlement Ratio | 89.46% |
In-House Claim Settlement | Available |
Network Hospitals | 4,500+ |
Renewability | Lifelong |
COVID-19 Cover | Yes |
Incurred Claim Ratio | 54% |
Policies Sold | 6,96,107 |
Benefits of Max Bupa Health Insurance
In India, Max Bupa is a stand-alone health insurance provider that offers insurance products that cover health-related issues. The company is a joint venture between Max India Limited and Bupa, a healthcare services provider based in the United Kingdom. Both of these organisations provide tremendous support to the company, allowing it to become one of India's major health insurance providers.
The corporation has a number of accomplishments to its credit, providing it an advantage over other general insurance firms. Max Bupa is the first health insurance provider to be named a Superbrand for two years in a row. Furthermore, the company is well-respected, with approximately 2.9 million delighted customers.
Max Bupa offers a wide selection of health insurance policies, ranging from indemnity-based mediclaim plans to fixed benefit critical sickness plans and personal accident plans, ensuring that every customer may choose the right plan for them.
Max Bupa Health Insurance Plan List
Name of Pland | Sum Insure |
Corona Kavach Policy | 50,000 - 5 Lakh |
Helth Premia | 1 Lakh |
Helth Companion | 2 Lakh |
MoneySaver Policy | Up to Rs 30 Lakh |
ReAssure Policy | 3 Lakh - 1 Crore |
Arogya Sanjeevani Policy | 1 Lakh - 5 Lakh |
Helth Pluse | 3 Lakh |
AccidentCare (Discontinued) | 5 Lakh |
Helth Recharege | 2 Lakh |
Criticare | 3 Lakkh |
Heartbeat | 1 Lakh |
GoActive | 4 Lakh |
SuperSaver Policy | Up To Rs 1 Crore |
Max Bupa Health Insurance Top Up List
Name of Plan | Sum Insured |
Health Companion | 2 Lakh |
Additional Benefit of Free Health Check up
The company's health insurance policies include complimentary health check-ups once a year or every 2-4 policy years. This benefit enables policyholders to track and manage their health.
Additional Protection over Employer Coverage
For paid employees, employer-sponsored group health plans are prevalent, although their coverage may be limited. If your employer-sponsored health plan is missing some coverage benefits, you can enhance your coverage by purchasing one of Max Bupa's comprehensive health insurance plans.
Cashless Benefit
Max Bupa's claims are handled by an in-house claim settlement department. The organisation has ties with over 4,500 network hospitals, ensuring that your health insurance claims are settled without cash. Furthermore, the organisation guarantees that your cashless claims will be pre-authorized after 30 minutes of notification, making the procedure swift.
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Claim Settlement Ratio
Max Bupa has settled over Rs. 1,141 crore in claims since its establishment, with a claim settlement percentage of 89.46 percent for FY 2019-20. It's worth noting that the claim settlement ratio changes over time.
Coverage against Medical Expenses
The company's health plans include extensive coverage advantages, which ensure that the majority of your medical expenses are covered. You may get coverage for inpatient hospitalisation, pre and post hospitalisation, day care treatments, organ donation expenditures, ambulance cover, and more with Max Bupa's health insurance.
Incurred Claim Ratio
An insurance business's Incurred Claim Ratio (ICR) compares the quantity of claims paid to the total amount of premium received by the company. If the ratio is greater than 100 percent, the company is paying out more claims than it is earning in premiums. This indicates that the business is losing money. For the financial year 2018-19, Max Bupa's ICR was 54 percent. This indicates that the company is profitable and so financially secure. It's worth noting that the incurred claim ratio changes over time.
Tax Benefit
The premium you pay for a Max Bupa health insurance coverage qualifies for a tax credit under Section 80D of the Income Tax Act, 1961.
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