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Niva Bupa Health has launched a plan ‘ReAssure 2.0’ which carries forward the entire sum insured if a policyholder does not make a claim or claim request is less than Rs.1 lakh.
For instance, if your client buys a health plan with sum insured of Rs.10 lakh, he will get sum insured of Rs.20 lakh on renewal if he does not make a claim in the preceding year. Such a carry forward can go on till 10th renewal if no claim is made.
The policy comes with four features – Reassure, lock the clock, booster and safeguard. Let us look at these features:
Reassure: The policy reinstates its original sum insured after its first claim. For instance, if your client buys a policy with sum insured of Rs.10 lakh and makes a claim of Rs.5 lakh, his sum insured will automatically become Rs.10 lakh again for his subsequent claims in the same year.
Lock the clock: Premium remains unchanged if policyholder does not make a claim.
Booster+: The policy carries forward base sum insured in the subsequent year if no claim was made.
Safeguard+: Entire sum insured will be carry forwarded if the claim amount is less than Rs.1 lakh
Krishnan Ramachandran, MD and CEO, Niva Bupa Health Insurance said, “With this product, we have addressed the prevailing concerns of customers which act as a hindrance during health insurance purchase. We have designed this product in a unique way that will encourage customers to start investing for their health and financial security at an early age.”
Dr. Bhabatosh Mishra, Director - Underwriting, Products and Claims, Niva Bupa Health Insurance said, “This product offers a win-win situation for customer, both in case of making a claim as it triggers ReAssure+ benefit “forever”, and in case of not making any claim, the customer continues to pay the premium of the age at which he purchases the policy.”