How is Max Bupa Health Insurance and How Does it Work?

Max (Niva Bupa) Bupa Insurance Company Ltd.  Max Bupa is a standalone health insurance company. A joint venture between Max India Limited and also the UK-based Bupa Financial PLC. Bupa has six decades of experience in the healthcare industry and an 11.3 million customer base in over 190 countries. Niva Bupa insurance was founded in 2008 as a joint venture between Max India and Bupa and began operations in 2010. In Jun 2011, it integrated with Insurance Regulatory and Development Authority’s Integrated Grievance Management System in real-time, which made the corporate the first insurance company in India to own such a system. In May 2020, Krishnan Ramachandran was appointed as the MD and CEO of the company, and C. B. Bhave was appointed as the Chairman of the board.

In April 2019, the corporate launched ‘AnyTimeHealth (ATH)’ machines that allow customers to shop for health insurance cover in a few seconds.

In February 2019, Max India’s entire 51 percent, stake was acquired by Fettle Tone LLP, an affiliate of private equity firm True North for ₹510 crores (US$72 million). It distributes its policies through its agency force and Bancassurance partners HDFC Bank, Karur Vysya Bank, Bank of Baroda, Indian Bank, and IDBI Bank. Max Bupa health insurance offers individual, couple, nuclear family, and family unit insurance plans. Buying insurance plans from Max Bupa health insurance comes with a variety of benefits and advantages.

Why Buy Max Bupa Health Insurance Policy?

Here are some reasons why customers prefer Max Bupa Health Insurance for their health insurance needs:

Cashless hospitalization: Max Bupa health insurance offers cashless hospitalization at 5,000+ network hospitals across India within a half-hour of receiving the request from the hospital.

Comprehensive insurance cover: Max Bupa offers health insurance policies with a sum insured of up to Rs.1 crore. The insurance coverage has low waiting periods.

International coverage: Max Bupa Heartbeat Platinum plan is a unique product that provides international cashless treatment for 9 major critical illnesses like a transplant and cancer through its global network in over 190 countries. Outpatient Department cover is accessible under this plan.

• ●  Maternity benefits: Health insurance plans offered by Max Bupa cover maternity-related expenses after a 1-year waiting period. A baby born when a maternity claim is payable is automatically covered till subsequent policy renewal.
• ●  Health plans for the entire family: Max Bupa offers health insurance plans for the whole family from newborn babies to senior citizens under one policy.
• ●  Lifelong renewability: All health insurance plans offered by Max Bupa come with a lifelong renewability option, provided continuous payment of insurance premium.
• ●  Benefits of Max Bupa Health Insurance:

1. Daily cash benefit: For miscellaneous expenses, you can get a daily cash benefit ofUp to Rs.4, 000 per day during the hospitalization period up to 45 days.
2. Direct claim settlement: There is no involvement of a TPA. Therefore, the claim settlement is direct and quick.
3. Worldwide coverage: Insured members can get cashless treatment at a network hospital of Max Bupa Health Insurance anywhere in the world.
4. Renewability for life: All health insurance policies offered by Max Bupa have a lifelong reliability option.
5. Discount: Get a reduction upon purchasing a 2-year policy. Discount on premium applicable on select policies offered by Max Bupa health insurance, which too only within the second year of the policy term.
6. Critical illness plan: A payment amount will be paid to the insured within the case of diagnosis of a specified critical illness under the policy, provided he or she survives for 30 days post-diagnosis.
7. Personal accident plan: With this rider attached to your base policy, you can get a sum insured payout benefit in the case of an accident death, permanent total disability, or partial disability.
8. Tax benefit: Get a tax deduction on the premium paid towards a health insurance policy under Section 80D of the Income Tax Act, 1961.

Types of Health Insurance Policies Provided by Max Bupa Health Insurance:

The different health insurance plans offered by Max Bupa Health Insurance are listed below:

● Max Bupa Health Companion Policy

● GoActive

• Health Premia
• Corona Kavach
• Reassure
• Money Saver
• Health Pulse
• Accident Care
• Critical Care
• Heartbeat
• Super Saver
  

  Max Bupa Health Insurance Renewal:

  All health insurance policies offered by Max Bupa insurance have to be renewed every policy year for continued policy benefits. A 30-day grace period will be given post premium payment maturity date to make renewal payment. However, policy benefits won’t be available during the grace period. If the policyholder fails to renew the policy within the grace period, the policy will lapse. Policy renewals are often done online through the insurer’s website. Enter your policy number on the website to understand the renewal premium amount and pay using net banking, credit card or debit card.

  Max Bupa Health Insurance Premium Calculator:

  With the Max Bupa health insurance premium calculator, you’ll be able to assess your insurance needs and choose an appropriate health insurance policy for you and your family. The web premium calculator is straightforward and easy to use. It is available on the insurer’s website. All you have to try and do is choose a particular plan, enter the chosen sum insured, your personal details like name, date of birth, city, phone number, and email ID. If you decide to co-pay, list how much percentage you’re willing to pay. Click on Calculate Premium and acquire the premium details instantly.

  Max Bupa Health Insurance Customer Care:

  For any policy-related queries or assistance with purchasing a policy from Max Bupa Health Insurance, call toll-free number 1800 3010 3333 or 011 66326666. You can also email customercare@maxbupa.com or send a letter to Max Bupa Health Insurance Company Limited, B-1/I-2, Mohan Cooperative Industrial Estate, Mathura Road, New Delhi – 110044.

  Branch Office: Visit the official website of Max Bupa Health Insurance and click on the ‘Contact Us’ tab on the top right-hand corner of the page. A list of contact details of the branch offices of Max Bupa will be displayed on the screen.

  Network hospital: Locate a network hospital in your area by selecting a state and a city from the drop-down box. You can also view the map for directions to the nearest network hospital.

  Customer Support: Under the Customer Support option, you can find the following services:

• Track your claim status
• Information on the claim process
• Download claim forms
• Grievance Redressal
• Change your contact details
• Policy documentsTax receipt: You can access your tax receipt by entering your policy number, date of birth, and email ID.
  Portability: You can find information on how to put your health insurance policy from one insurer to another without losing your accrued policy benefits such as waiting period and No-Claim Bonus.

● Awards and recognition

1. In April 2019, the company won the ‘The Economic Times Best Brands 2019’ award by The Economic Times and Nielsen.
2. On April 2018, Max Bupa’s Go Active Health Insurance Plan was recognized as Product of the Year by research agency Nielsen.
3. Max Bupa was awarded the Golden Peacock Award 2015 for its product Heartbeat Health Insurance Plan.
4. Max Bupa Health Insurance was awarded the ‘IT Management Best Practices at the Celent Model Insurer Asia Awards 2016.
5. The company received the Best Product Innovation Award for Heartbeat Family First at Indian Insurance Awards 2011.

The corporation is one of the best health insurance companies in its class and offers coverage for a variety of treatments, access to hospital networks, riders, cashless claims, and much more. Then the question that arises is WHY NOT MAX BUPA/NIVA BUPA HEALTH INSURANCE?