Health insurance major Max Bupa has announced a strategic partnership with MobiKwik to promote affordable and convenient bite-sized group health insurance products for MobiKwikâ€™s 107 Million customers across the country.
Bite-sized insurance offerings are essentially easy to buy, over the counter health insurance products, primarily targeted towards working professionals and millennials. They have been gaining huge interest from customers who are on the go and are looking for convenient, low price and accessible health plans for their specific health needs.
In keeping with this emerging trend, Max Bupa in association with Mobikwik will offer a slew of innovative offerings, including a Cancer cover at nominal premium and a HospiCash product, in order to make health insurance purchase simple, instant and affordable.
Max Bupaâ€™s HospiCash product provides for a pre-defined daily allowance basis the number of days of hospitalization irrespective of the actual expense incurred by the customer. This ensures that the out of pocket expenses are taken care of. Priced at an annual premium of Rs 135, HospiCash will offer Rs 500 per day hospital allowance for up to 30 days in a year to a customer. If admitted to an ICU, the amount receivable by the policyholder is twice the daily hospitalization cash benefit. In addition to this, customers would also get additional security against accidents wherein the family would receive Rs 1 Lakh in case of accidental death of the customer.
The company claims that the HospiCash buying journey on the MobiKwik app is fully digital and even the claim process is simple.
Max Bupa will also offer a new proposition for Vector Borne Diseases like Dengue, Chikungunya, Malaria, Japanese Encephalitis, Lymphatic Filariasis, for those who are interested in further safeguarding themselves against the increasing incidences of such diseases. A lumpsum payout of Rs 10,000 against these conditions will help the customer to not only take care of hospitalization expenses but also loss of pay for the time they have been away from work. Such proposition would soon be available on the MobiKwik platform at a nominal premium of Rs 49. Further, customers would also get an accidental death cover for Rs 1 Lakh as additional security.
To help those suffering from Cancer, Max Bupa will offer a fixed benefit Cancer plan for Mobikwikâ€™s customers which would provide the required protection to the customers, with a lumpsum payout to not just take care of their medical expenses but also support the financial needs of their family.