About Max Bupa Health Insurance
Max Bupa Health Insurance Company is a joint venture between True North (an Indian private equity firm), and the global healthcare services expert, Bupa. It provides health insurance plans that cover all hospitalization expenses (including COVID-19), critical care, and accident care needs. The company promotes a healthy lifestyle and eating habits with the help of rewards and allows the insured members to track their health via the 'Max Bupa Health App'.
So, Max Bupa offers a range of products and insurance policies (such as top-up insurance, senior citizen, critical illness, individual and family floater health insurance) to its customers Let's dive into the details of Max Bupa Health Insurance.
Awards And Accolades
Max Bupa Health insurance has received several awards and accolades such as:
- The Economic Times Best Brands 2019 award
- The Super Brand 2019 award
- The prestigious 'Technology Maturity' award
- Max Bupa Health App was awarded Best Tech for Health Category 2019
What are the Different Plans Offered by Max Bupa Health Insurance?
Max Bupa Health Insurance offers 12 health plans that fulfill financial needs during a medical emergency. They offer a variety of plans for individuals, families, and even offer coverage against COVID-19.
Here is a list of 12 plans offered by Max Bupa that will help you narrow down your selection:
| Max Bupa Plans|| Type of Plan|| Why should you buy?|
|Max Bupa Health Companion Plan||Family Health Insurance||Max Bupa Health Companion plan provides protection to you and your entire family's health. |
The company also provides a Family First plan, which is suitable for a joint family.
|Max Bupa Health Premia Insurance Plan||Family Health Insurance||Max Bupa Health Premia is a comprehensive health insurance plan that covers all the health needs of you and your family. |
This plan is available in three variants: Silver, Gold, and Platinum.
|Max Bupa GoActive Health Insurance Plan||Family Health Insurance||The plan offers a family cover of up to 2 adults & 4 children.|
|Max Bupa Money Saver Plan||Family Health Insurance||Money Saver Plan offers personal accident and critical illness cover.|
|Max Bupa Heartbeat Family Health Insurance Plan||Family Health Insurance||Max Bupa Heartbeat Family Insurance Plan is a comprehensive plan providing pre- and post-hospitalization, health check-ups, and maternity benefits. |
The plan is available in two variants: Gold and Platinum Plan
|Max Bupa Super Saver Plan||Family Floater Health Insurance||This plan protects you and your family and covers basic hospitalization expenses such as nursing charges, in-patient charges, etc.|
|Max Bupa Health Pulse Insurance Plan||Family Health Insurance||Max Bupa Health Pulse helps cover individual and family medical expenses, in addition to offering customized benefits, and rewards.|
|Max Bupa ReAssure Health Insurance Plan||Family Floater Health Insurance||Max Bupa ReAssure Health Insurance Plan is designed to protect you and your family's health.|
|Max Bupa Corona Kavach Plan||COVID-19||Max Bupa Corona Kavach policy provides coverage against COVID-19.|
|Max Bupa Accident Care Plan||Family Health Insurance (Personal Accident Insurance Plan)||Max Bupa Accidental Care provides coverage to the policyholder and his/her family in case of death or disability because of an accident.|
|Max Bupa Health Recharge Plan||Family Health Insurance||This plan offers Coverage for Ayurvedic Treatments|
|Max Bupa CritiCare Plan||Critical Illness Insurance Plan||Max Bupa Criticare Plan protects you and your family against 20 critical illnesses.|
Watch Video For Detailed Review
Let's discuss each plan in detail.
Max Bupa Health Companion Plan
Max Bupa Health Companion Plan is a comprehensive health insurance plan that looks after your entire family's health. Apart from the individual and family floater plans, the company also provides a Family First plan, which is suitable for a joint family, and covers up to 19 relationships.
- The policy covers all types of hospitalization charges without any room capping rent charges (except for the suite or above room category).
- Alternative treatments such as Ayurvedic, Homeopathy, Siddha, and Unani are also covered.
- Expenses related to emergency ambulances, living organ donor transplants, and daycare procedures are covered under the policy.
- If the policyholder has exhausted the basic sum insured, a refill benefit is given where the insured gets a reload of 100% of the sum insured. This does not apply to family first.
| Plan type|| Variant 1|| Variant 2|| Variant 3|
|Cover Available||Rs. 2 Lakhs - Rs. 4 lakhs||Rs. 5 Lakhs - Rs. 12.5 lakhs||Rs. 15 Lakhs - Rs. 1 Crore|
|Health Check-up||Once in 2 years||Annual check-up||Annual Check-up|
|Hospital Cash||Up to Rs. 1000/day||Up to Rs. 1000/day||Up to Rs. 4000/day|
Max Bupa Health Premia Insurance Plan
Max Bupa Health Premia is a comprehensive health insurance plan that offers coverage against the health needs of you and your family in India as well as abroad.
- All the expenses that come under hospitalization care are covered under this policy, including Ayurvedic, Homeopathy, Siddha, and Unani treatments.
- The policy provides worldwide maternity benefits along with benefits for the newborn baby for its health and vaccination needs.
- The plan also covers treatments that need modern surgeries like Bariatric, Laser, Robotics, and Organ transplants.
- Apart from the above features, it also provides:
1. Personal Accident and Critical Care cover
2. Loyalty addition in the sum insured after every year
3. Enhanced Geographical Coverage
The plan provides the following 3 variants to choose from:
| Plan type|| Silver|| Gold|| Platinum|
|Cover Available||Rs. 5 Lakhs - Rs. 7.5 lakhs||Rs. 10 Lakhs - Rs. 50 lakhs||Rs. 1 crore - Rs. 3 Crore|
|Health Check-up||Up to Rs. 1,875 per person||Up to Rs. 7,500 per person||Up to Rs. 10,000 per person|
Max Bupa GoActive Health Insurance Plan
The Max Bupa GoActive Health Insurance plan provides cover for daily hospitalization needs and helps you to access cashless OPD and diagnostic services. The plan offers a family cover of up to 2 adults & 4 children.
- In case of the exhaustion of the base sum insured, you will get a 100% refill of your base sum insured.
- It also provides an I-Protect option that increases the cover by 10% every year after renewal.
- In case of the unavailability of a hospital bed or on the doctor's advice, the policy will reimburse you for the medical treatment taken at home.
| Entry Age||Child: 91 Days, Adult: 18 Years - 65 Years|
| Base Sum Insured||Rs. 4 Lakhs - 25 Lakhs|
Max Bupa Money Saver Plan
The Max Bupa Money Saver Plan combines the benefits of Health Recharge (HR) and Health Companion (HC) plans.
- The plan allows the policyholder to get a cover for inpatient treatment under AYUSH (Ayurveda, Unani, Siddha, and Homeopathy) up to the base sum insured.
- You can earn up to 20% of the sum insured (as a bonus) for every claim-free year. The maximum limit is up to 100% of the base SI.
- Policyholders can save taxes under section 80D of the Income Tax Act, 1961.
- The plan also offers:
1. Personal Accident Cover
2. Critical Illness Cover
| Hospital Cash||Up to Rs. 2000/day|
| Base Sum Insured||Rs. 10.5 Lakhs - 1 Crore|
Max Bupa Heartbeat Family Health Insurance Plan
Max Bupa Heartbeat Family Health Insurance Plan is a comprehensive insurance plan with pre & post-hospitalization coverage. The plan provides two variants (gold and platinum) to its customers for better coverage.
- Maternity benefits and expenses of treatments and vaccination for a newborn baby are covered from day one.
- The plan offers a 10% addition to the expiring base sum insured each year (a maximum of 100% of the base sum insured) as a loyalty benefit.
- The additional benefits provided by the policy are hospital cash, personal accident cover, critical illness cover, e-consultation, and premium waiver.
| Plan type|| Gold|| Platinum|
|Base Sum Insured||Rs. 5 Lakhs - 50 lakhs||Rs. 15 Lakhs - Rs. 1 Crore|
|Health Check-up||Up to Rs. 2,500||Up to Rs. 5,000|
|Maternity Benefit||Up to Rs. 1,00,000||Up to Rs. 2,00,000|
**The values may change as per the chosen plan option.
Max Bupa Super Saver Plan
Max Bupa Super Saver is a health insurance plan that offers health coverage up to Rs. 1 crore. The plan allows the insured to avail of unlimited tele/online consultations.
- In case the insured needs to travel to the hospital via an ambulance, the plan will cover its expenses (up to Rs.2000/hospitalization).
- Under this plan, a policyholder is eligible to opt for modern treatments such as oral chemotherapy, robotic surgeries, intravitreal injections, deep brain stimulation, etc.
- One can opt for a multi-year payment and is eligible to avail of a discount of 7.5% on the 2nd year's premium and 15% on the 3rd year's premium.
| Sum Insured||Rs. 10.5 Lakhs- 1 Crore|
| Annual Health Check-up||From 2nd policy year|
Max Bupa Health Pulse Insurance Plan
Max Bupa Health Pulse offers customized benefits and rewards.
- The plan covers basic hospitalization expenses such as nursing charges, in-patient charges, physiotherapy, etc.
- If the insured suffers from HIV/AIDS, the plan will look after their expenses (up to 10% of base SI, maximum Rs.50,000).
- Apart from hospitalization expenses, the plan also provides optional benefits such as personal accident cover, critical illness cover, hospital cash, enhanced no claim bonus, among others.
| Plan type|| Classic|| Gold|
|Base Sum Insured||Rs. 3 Lakhs - 10 Lakhs||Rs. 3 Lakhs - 25 lakhs|
|Annual Health Check-up||From 2nd Policy year onwards|
Max Bupa ReAssure Health Insurance Plan
Max Bupa ReAssure Health Insurance policy secures you and your family's health and financial well-being.
- The plan offers a booster benefit, where one can get a 50% increase in the sum insured in case of a claim-free year. The maximum is 100% (a reduction of 50% in case of a claim).
- If no hospital bed is available, this policy will cover the medical treatment taken at home (on the doctor's advice).
- Insured members can grab 'Live Healthy Benefit (up to 30% on renewal premium)', where they can collect health points by tracking steps on the Max Bupa Health App.
- The plan offers coverage for pre and post-hospitalization (60 and 180 days) expenses.
| Base Sum Insured||Rs. 3 lakhs - 1 crore|
| Emergency Ambulance||Up to Rs. 2,000/hospitalization|
| Health Check-up||Annually|
Max Bupa Corona Kavach Plan
Max Bupa Corona Kavach policy can help you safeguard yourself and your family from COVID-19 related expenses. To avail the benefits and coverage of this plan against hospitalization, one needs to be hospitalized for at least 24 hours.
- The plan offers coverage for the treatments under Ayurveda, Unani, Siddha, Yoga, and Homeopathy.
- The plan also covers home care treatment expenses for COVID-19 (on a positive diagnosis of COVID-19 in a government-authorized diagnostic centre).
- Coverage for pre- and post-hospitalization expenses (15 & 30 days) are available.
| Entry Age||18-65 years|
| Policy Tenure||3.5 months, 6.5 months & 9.5 months|
| Sum Insured||Rs. 50,000 to Rs. 5 lakhs|
Max Bupa Accident Care Plan
Max Bupa Accident Care is a personal accident insurance plan, which offers coverage to the insured and his/her family in case of death or disability resulting from an accident.
- In an unfortunate case of your death or permanent total disability of the insured, his/her child will get education benefits up to Rs. 5 lakhs.
- The plan also covers funeral expenses of the insured up to Rs 5,000 (SI under 25 lakhs) and Rs 50,000 (SI over 25 lakhs).
- If the insured meets with an accident and suffers a permanent total disability, the plan pays 125% of the SI to his/her family.
| Entry Age||Adults: 18-65 years, Dependant Children: 2-21 years|
| Sum Insured||Rs. 5 Lakhs to Rs. 2 Crores|
Max Bupa Health Recharge Plan
Max Bupa Health Recharge plan helps you to enhance your family's health insurance cover.
- Pre- and post-hospitalization expenses (60 & 90 days) are covered under this plan.
- Under this plan, you will get coverage for alternative treatments such as Ayurvedic, Unani, Siddha, and Homeopathic.
- Thanks to the Income Tax Act, 1961, the insured can avail of tax deductions for the premiums paid against this plan.
| Emergency Ambulance||Up to Rs. 1500/hospitalisation|
| Sum Insured||Rs. 2 Lakhs to Rs. 2 Crores|
Max Bupa CritiCare Plan
Max Bupa CritiCare health insurance plan protects you and your family from 20 listed major critical illnesses.
- The insured has 15 days to check the policy's TnCs and cancel it if something seems off the tangent.
- Policyholders can grab amazing discounts on the 2nd and 3rd year's premium by availing policies for a tenure of 2 or 3 years.
- Emergency ambulance expenses (up to Rs.2000/claim) are covered under the policy.
| Sum Insured||Rs. 3 Lakhs to Rs. 2 Crores|
What are the Key Features of Max Bupa Health Insurance?
In today's scenario of increasing healthcare costs, having a health insurance plan is a very important aspect of your financial planning. A single health emergency can force you to lose all your hard-earned money and can also push your financial planning back by several years. There are numerous plans available in the market these days that provide protection to you and your family and help you lead a financially healthy and happy life. Before buying an Insurance plan, you must read about it carefully to make an informed decision. For your convenience, we have listed down key features of he company like market share, cashless facility & claim support.
Let's discuss the key features of Max Bupa Health Insurance and understand them in detail.
Max Bupa health insurance company provides cashless treatment for hospitalization and settles all your medical expenses incurred in the treatment. It has tie-ups with more than 5000+ hospitals in its network that provide a cashless facility and serves complementary health check-ups, pre and post-hospitalization costs, and coverage for pre-existing diseases.
Graphical Representation of Max Bupa & other Top Insurers (based on Network Hospitals)
If you want to check the Network Hospital lists as per your state/region, you can visit the PolicyX.com network hospital Page.
Let's understand this with the help of an example.
Mr. Kumar got hospitalized and admitted to the nearest network hospital that is already enlisted with Max Bupa (his insurance company) for the treatment of Hyperlipidemia. In this case, all the medical bills were paid by the insurance company itself. This cashless treatment helped Mr. Kumar to undergo treatment without any financial burden.
If your hospital is not covered under the Max Bupa Network, the company also provides the option of reimbursement where after you have paid the cost of treatment, you can easily file for reimbursement and Max Bupa will settle the incurred amount.
Max Bupa Health Insurance offers lifelong renewability. The renewability feature offered by Max Bupa ensures that the policy can be renewed for a lifetime without any age restriction.
This factor tells you the ability of the company to settle claims and helps you understand the history of the insurer.
According to the IRDAI Annual Report 2019-2020, Max Bupa settles 99.91% of claims within 3 months. The higher the percentage of claim settlement, the better the ability of an insurance company to settle claims.
Claim Support of Top 10 Insurance Companies
** Data from IRDAI Annual Report 2019-20
The Annual premium of the company for the year 2019-2020 is 1177.56 crores whereas, for 2018-19, it was 914.49 crores. We have prepared a graph that compares the annual gross premiums of Max Bupa Health Insurance Company from 2016 to 2020.
Annual Premium of Max Bupa from Financial Year 2016-20
**Data from IRDAI Annual Report
The solvency ratio is a factor you must consider while selecting an insurance company that provides financial protection to you and your family. The solvency ratio helps assess the ability of a company to meet its financial obligations. IRDAI publishes the solvency ratio in its annual reports. Currently, IRDAI mandates maintaining a healthy solvency ratio of 1.5 for every insurer. As per the IRDAI annual report 2019-20, the solvency ratio of Max Bupa is 1.64, which fulfills the IRDAI criteria.
Here is a graph comparing the solvency ratio of Max Bupa with IRDAI's solvency ratio from 2016- 2020.
Solvency Ratio of Max Bupa 2016-20
** Data from IRDAI Annual Report
We have summarized the key features in tabular form. Go through the table and choose your insurance company wisely.
| Network Hospitals||5000+|
| Number of agents||34000+|
| 24X7 Customer support||Available|
| Quick Doctor consultation||Available in most plans|
| Claim settlement Ratio||96%|
| Incurred Claim Ratio||50.19|
| Gross Direct Premium (2019-20)||1177.56 Crores|
| Solvency Ratio||1.64|
Why Should You Buy Max Bupa Health Insurance?
Max Bupa Health Insurance ensures that cashless claims are processed within 30 minutes across its 5000+ network hospitals. Even when the hospital doesn't come into the Max Bupa network, the company provides a reimbursement facility to make sure that illnesses do not become a financial burden. The company has introduced its app and chatbot 'CIA' to entertain customer queries on time.
Most of the plans offered by the company provide loyalty or a no-claim bonus that increases the cover of every claim-free year.
We have discussed some of the key features of Max Bupa below:
Max Bupa offer direct claim settlement, preauthorization of cashless claims within 30 minutes, and it also provides the access to customer care 24X7 to resolve their queries. Additionally, they also have a 'point of care' desk at leading hospitals that helps customers with their claims.
Max Bupa Health Application
Max Bupa Health App has been designed to help customers to manage and track their health along with their insurance plan. You can book cashless OPD appointments with a doctor or a medical lab. Moreover, you can get information about the renewal status.
Max Bupa provides comprehensive plans that suits customer's needs and requirements. For larger families, Max Bupa has a comprehensive insurance product i.e., Health Premia that provides good care for families.
Max Bupa Health Insurance offers cashless facilities at OPD Network hospitals with 2,000 doctors and teleconsultation with which they promise to provide quick doctor's consultation related to healthcare and wellness services.
The plan offers a lifelong renewal.
How Does Max Bupa Calculate the Premiums of its Health Plans?
There are some factors, which have a direct impact on the health insurance premium. It's better to know about them so that you can make an informed decision while choosing from the list of Max Bupa health plans. Here, we are discussing the Max Bupa health insurance premium calculator. Let's check out a few of those factors.
The younger your age, the less prone you are to catch illnesses. Therefore, a 25-year old has to pay a lower premium as compared to a 40-year old individual.
Body Mass Index
If you have a high BMI, you are more likely to suffer from illnesses like heart problems, diabetes, etc. Therefore, health insurance companies have to spend more on your treatments. In return, they charge high premiums.
If you go with a high coverage amount, you have to shell out a higher premium against it and vice-versa.
The work you do for a living has a significant impact on the health insurance premium. If you are employed as a minor, construction worker, or scientist surrounded by chemicals, you have a higher chance of getting injured and applying for claims. Therefore, you have to pay a higher premium in return.
How to Buy Max Bupa Health Insurance Plans?
You can either buy from the company or from PolicyX.com.
Max Bupa Company's Website
- Visit the official website of the company. On the top, click on the 'Buy' option.
- Enter all the required details and click on 'Find My Plan'.
- Among all the available plans, select the best-suited plan to meet your needs.
- Pay the premium online.
- Once done, a soft copy of the policy will be sent to your registered email address.
- On the top right corner of this page, search for the 'Calculate Max Bupa Health Insurance Premium' form.
- Fill in the necessary details to get the list of quotes.
- Choose the desired Max Bupa health plan and pay the premium.
- After the payment, the policy will be shared on your registered email address.
How to File a Max Bupa Health Insurance Claim?
Max Bupa allows customers to file claims in two ways. Let's learn about them.
For Cashless Claims
- Get admitted to any one of the network hospitals associated with Max Bupa. You can check the list of network hospitals on the company's website.
- Use your Max Bupa Health Card and show them your identification proof.
- After validating your identity, the network hospital will submit the pre-authorization request form to the company.
- The company will review your request and provide the confirmation to the network hospital by fax or email and share the same with you via text or email.
- The company will settle the claim with the hospital after the completion of all formalities.
For Reimbursement claims
- If admitted to a non-network hospital, notify Max Bupa within 48 hours of hospitalization. In emergency cases, inform them within 24 hours of hospitalization.
- You need to pay the treatment expenses to the hospital. During discharge, collect all the necessary documents, invoices, medical reports, and discharge certificates from the hospital.
- Send the completed claim form (available on Max Bupa's website) along with the required documents to Max Bupa.
- Max Bupa will review the documents and settle the claim (if approved) by reimbursing you for the amount.
- Valid ID proof.
- Original reports of diagnostic tests, radiology reports, and payment receipts.
- Original hospital bills and discharge certificate signed by the medical practitioner.
- Medical practioner's prescription for consultation, medicine, and medical tests.
- Post Mortem Report (if applicable).
- Others requested by the company.
How Can I Renew My Max Bupa Health Insurance?
Let's discuss the Max Bupa health insurance renewal process. Follow the below steps to renew your policy easily:
- Visit the company's website and click on the 'Renew' option.
- Enter your 14 digit policy number and click 'Submit'.
- You will get the renewal premium amount.
- Click on the 'Pay now' option to make the payment.
- On successful payment, you will receive a policy transaction number. A new policy kit will be emailed to you within 48 hours.
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