Max Bupa Health Insurance Company Limited is the latest health insurance company to join the ever-growing list of health insurance companies in India. It is a joint venture between Max India (promoters of Max New York Life Insurance) and Bupa (the UK based Health Insurance Company). Max Bupa has come out with a Family Floater Health Insurance Product by the name of Heartbeat.

So is Heartbeat Health Insurance Plan also one of the family floater products offered by other health insurance companies? What is it that makes Heartbeat different from other health insurance plans already available in the market? Let us take a closer look at this product. (Download Brochure)

Three Variants – Heartbeat comes in 3 different variants –

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Features of Heartbeat –

• Life-Long Renewal:

Yes, you read it right. The company assures you life long renewal year after year during your lifetime. This feature of the product makes it stand out among the numerous other family floater products available in the market. A lot of health insurance companies don’t offer renewal of health insurance policies after the age of 65 years or 70 years.

• No Maximum Enrolment Age:

There is no minimum or maximum age for enrolment. A lot of insurance companies have a maximum entry age of 55 years or 60 years for health insurance. After this age, they don’t take new enrolments. Also, lot of companies have restrictions on the minimum entry age for enrolment. But in this policy, there is no minimum entry age for enrolment. A newborn baby can be covered right from day.

• Maternity Benefits:

The policy provides maternity benefits for up to 2 deliveries. To avail this benefit the individual and spouse should have been covered for 3 years continuously. All newborn babies where the company has paid the maternity claim are automatically covered from birth until the next renewal. The plan also covers 1st-year vaccinations for newborn babies where the company has paid the maternity claim.

• No TPA’s Involved:

The company has not tied up with any Third Party Administrators (TPA) for claim processing and settlement. All the claims are handled by the company personnel inhouse. Read more about TPA’s in How to choose Medical Insurance Policy?

• Dedicated Relationship Manager:

The company assigns a Personal Relationship Manager for Gold and Platinum variants of the product. The relationship manager helps at the time of hospitalization and also at the time of claim settlement.

• Online Tracking:

The company offers all the details of the policyholders on the website. The policyholder can access his personal details, profile, claim history, etc on the company website.

Other Features –

Other features of the product include general features that are offered by most of the health insurance companies in their policies. Some of these features are as below:

• Cashless Treatment: The company has tied up with a number of network hospitals and offers its customers the facility of cashless treatment by providing them health identity cards.
• Free Look Period: The product comes with a 15 day free look period. Within this period if the policyholder is not satisfied with the terms and conditions of the policy, then he can return the policy. The company will return the premium after deducting few charges.
• Wide Range of Covers: The product comes in 3 variants offering a wide range of cover from a minimum of Rs 2 Lakhs to 50 Lakhs.
• Health Check-up on Renewal: The company offers a health check-up on renewal under some of its variants.
• 24/7 Support: The company offers customer service round the clock even in case of late-night emergencies.
• Pre and Post Hospitalisation Expenses: The policy covers medical expenses incurred up to 30 days prior immediately before admission to the hospital and 60 days after discharge from the hospital.
• Tax Benefits: The premium paid under the policy is eligible for tax deduction under Section 80D of the Income Tax Act.

Read More on company website

What is not covered ?

• Benefits will not be available for Pre-existing Conditions until 48 months of continuous coverage have elapsed since the inception of the first Policy with us.
• No treatment taken during the first 90 days since the commencement of the Policy, unless the treatment needed is a result of an Accident or Emergency.
• It will not cover some things permanently like –

1. Addictive conditions and disorders;
2. Ageing and puberty;
3. Artificial life maintenance;
4. Circumcision;
5. Conflict and disaster;
6. Congenital conditions;
7. Convalescence and rehabilitation;
8. Cosmetic surgery;
9. Dental/oral treatment;
10. Drugs and dressings for outpatient or take-home use;
11. Eyesight;
12. Experimental treatment;
13.  Self-inflicted injuries;
14. Sexual problems and gender issues;
15. Sexually transmitted diseases

Read in detail  Here

Conclusion

As we saw above, the policy offers some very good benefits compared to other health insurance products available in the market. But it may just be a matter of time before other companies also follow suit. If that happens the customer will truly be spoilt for choice of good plans available in the market. This will ultimately benefit the customer.

Note: Please check the company website or the product brochure for the latest features of the product carefully before deciding to buy the product.

This is a Guest post by Gopal Gidwani, He writes on his blog www.bachatkhata.com