Health insurance is an insurance; that covers the whole or a part of the risk of a person incurring medical expenses; spreading the risk over a large number of persons. 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 for MobiKwik’s customer base.
Bite-sized insurance offerings, which are essentially easy to buy; over the counter health insurance products, primarily targeted towards working professionals and millennials; are picking up pace in India and gaining interest from customers who are always on the go; and are looking for low price and accessible health plans for their specific health needs.
MobiKwik health insurance
These young customers are looking for quick; and affordable health insurance propositions to take care of their specific health needs. They are interesting in a fully digital buying journey along with simple claims procedure. Max Bupa’s HospiCash product offers a solution for evolving health needs. It 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 as low as Rs 135; HospiCash will offer Rs 500 per day hospital allowance for up to 30 days in a year to a customer. 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.
But 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 premium of Rs 49. Further, customers would also get an accidental death cover for Rs 1 lakh as additional security.
However commenting on the alliance, Upasana Taku, co-founder MobiKwik said; But this mission is to build affordable and accessible financial services for a billion Indians. But study call this ‘Building for Bharat’. Bharat needs a truly disruptive approach to ensure health cover is available to every citizen at a low premium; but with instant issuance and without fear of medical exams and piles of paperwork. With this Max Bupa partnership; we are bringing together the power of protection and digital to provide affordable health insurance to millions of Indian families.