Group Health Cover for Friends? Now Possible!
Published On 29 Jan 2020 By Yamini Sharma
The number of family health insurance plans and employee group policies in the market is quite vast. Soon, a group policy offering cover for friends is to enter the range.
Religare Health Insurance Co. Ltd., Max Bupa Health Insurance Co. Ltd., and Kotak Mahindra General Insurance Co. Ltd, the three big names in the health insurance sector will provide this unique product. The group under this new policy can have 5 to 30 individuals.
Group Health Cover for Friends is a great option for a group of friends who are more health conscious and possess a better health profile. The policy is said to refund a part of the premium (about 15%), in case none of the members files a claim in the year.
Ashish Mehrotra, MD and CEO, Max Bupa Health, said “There would be discounts based on the group size, available on a normal policy premium. Also, there would be wellness-linked incentives at regular intervals,". He further added, “A score would be generated for each group member. On the basis of that cumulative score, a discount would be passed on to the entire group at the time of renewal,".
”A cycling club or a group of marathoners or trekkers have people that are usually fit and healthier. We wanted to have a product that could appeal to such individuals," said Ashutosh Shrotriya, Head, Products and Business Process, Religare Health.