Niva Bupa Health Insurance has launched ReAssure 2.0, a unique health insurance plan that lets customers lock their entry-age premium, offers up to 30% discount on renewal premiums based on health points, and more. The plan is available for people in the age bracket of 18-65 years as individual, multi-individual & floater plans.
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*Tax benefit is subject to changes in tax laws. Standard T&C Apply
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As per Bhabatosh Mishra, Director of underwriting, Products, and Claims at Niva Bupa Health Insurance, the plan promises benefits on every investment by guaranteeing returns on every renewal premium. The plan is available with a sum insured starting from Rs. 5 lahks to Rs. 1 crore.
One of the best features of this plan is that it offers lock-in of entry age. Until the customer files for their first claim, they can continue paying the same premium as their entry age. This revolutionary factor will help customers save a lot of money on health insurance premiums. After raising a claim, the regular age band-wise premiums will be applicable.
The new plan also provides ReAssure Forever benefit where after the first claim, this base sum insured will be triggered and the customer will always have a sum-insured equal to their base sum insured. Those who raise no claims can avail of the Booster+benefit where the sum insured will be carried forward to the next year in case they do not raise a claim in a policy year. This is a unique design offering a 'win-win' situation where those who raise a claim can reap benefits along with those who raise no claims in a year.
For example, if a customer with a policy of Rs. 10 lakh does not raise a claim in a year, then the entire sum will be carried forward and the insured can avail of a claim up to Rs. 20 lakh next year.
If no claim is made consecutively until the 10th renewal, the insured will reach Rs. 1.10 crore consisting of Rs. 10 lakh as their base sum insured, Rs. 1 crore as Booster benefit and the accumulated sum insured.
The plan also offers a discount of up to 30% on the renewal premium based on the health points earned by the insured. Other distinct benefits include day-one coverage for hypertension and diabetes, no capping on room rent, and coverage for hospitalisation of 2 hours and above. The move is set to revolutionize the health insurance sector and encourage customers to invest in their health security from an early age.
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