Mar 16 2021
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Why are Comprehensive Health Insurance Plans more popular in the post-pandemic world
For the longest time, health insurance has been a meagre part of our financial plan that we kept on neglecting. Whether it was merely investing in the plan for the sake of it or depending solely on your employer’s health cover; people often treated health insurance like it was not one of the crucial pillars of investment. When the pandemic hit, this thought process changed significantly. People began to make more conscious decisions about choosing the right health insurance plan or deciding on the cover that they or their family need or even preference between individual and family health insurance covers.
According to General Insurance Council, the health insurance premiums paid from April to June 2020 saw a sudden jump. Health Insurance became the highest contributor to non-life insurers, accounting for 29.7% of the premiums collected. In the past year, Indians have become much more aware of the healthcare industry, have a better understanding of their own needs and are now looking for health insurance options that can cover their long-term issues while accessing the best possible treatment. The traditional Rs 5 to 10 lakh covers may not suffice these needs. And health insurance specialist, ManipalCigna Health Insurance understood this shortcoming. They have launched a unique and wholesome health insurance that can take care of the changing needs of the Indian insured with ManipalCigna Lifetime Health Plan.
A regular premium lifetime renewable product, ManipalCigna Lifetime Health is a comprehensive health insurance plan that offers a considerably higher coverage option of Rs 50 lakh to Rs 3 crore. The plan is designed to cater to all the healthcare needs of the insured, including access to global hospitalisation for up to 27 major illnesses. With various optional packages that help us to be better prepared in every stage of life, ManipalCigna Lifetime Health Plan is mindful of the unique healthcare challenges that we may face in the future.
Here’s how:
The need for high-value cover - Understood
ManipalCigna Lifetime Health is one of the few health insurance plans that begins at a high cover of Rs 50 lakh. With the option of increasing the health insurance cover to up to Rs 3 crore, the plan is designed to ensure that you are never short of cover in the case of medical needs. With the rising healthcare costs in India, it is always wiser to have a comprehensive cover that will ensure that you are cushioned in case of any critical illness or uncertainty.
The high-value cover of ManipalCigna is perfect whether you are choosing to buy an individual cover or protect your complete family. Even if you factor in the current inflation, the plan will comfortably take care of your hospitalisation or healthcare needs for at least the next 15 to 20 years.
For example, let’s say a high-value cover through a general comprehensive health insurance plan (Sum Insured of Rs. 10 lakh for healthy individual aged 40 years) will cost Rs. 11,852 (including taxes), whereas ManipalCigna Lifetime Health India plan will cost you just Rs.12,899* (including taxes) for Rs. 50 lakh of Sum Insured and just Rs.14,213* for Rs. 1 crore of Sum Insured. By paying approx. Rs. 2,300 extra you will get the coverage of Let’s take another example, say Sum Insured of Rs. 20 lakh through a general comprehensive health insurance plan will cost you Rs. 14,320 (including taxes) for healthy individual aged 40 years, whereas Sum Insured of Rs. 50 lakh for coverages in India and Rs. 50 lakh for coverages outside India through ManipalCigna Lifetime Health Global plan will cost Rs.21,081* (including taxes) and for Sum Insured of Rs.1 crore for coverages in India and Rs.1 crore for coverages outside India through ManipalCigna Lifetime Health Global plan will cost just Rs.26,622* (including taxes).
We always like demanding something extra in order to enjoy our lives more, so should we not have the same expectations from our health cover too?
Access to best treatments - Worldwide
The ease of getting the best possible treatment is one of the key benefits of accessing the best health insurance plans. With ManipalCigna Lifetime Health’s global hospitalisation option for major illnesses in opted locations, you can ensure that your family receives the best possible treatment. The health cover is applicable for up to 27 major illnesses including cancer.
Whether you need to get Heart Transplant surgery from Dubai or Neurosurgery from the UK, the plan covers it all. In fact, you have the power to choose the locations where you want your plan to cover, and only pay as per the opted area of cover. For example, if you do not think of travelling to the US or Canada for treatment, you can choose not to cover these locations by selecting Area of Cover (outside India) as excluding USA and Canada therefore you can take the best possible healthcare facilities – in the countries like UAE, Singapore, among others.
In fact, the ManipalCigna Lifetime Health is designed to make perfect customisation a reality. If you are a 25-year-old who is mainly thinking about getting the basic cover now, you can easily choose the packages that best suit your health needs. So an Air Ambulance Cover or Bariatric Surgery may not be something you are currently looking for, however, in a few years down the line you realise you may need these covers, and then you can choose an optional package by paying little bit of extra premium.
In ManipalCigna Lifetime Health there are three optional Packages, Health+, Women+ and Global+ to enhance your coverage as per your life stages. Women+ package is specially designed for women which will provide them the benefits like preventive screenings and consultations. Health+ package gives option to enhance the domestic coverage with various daily cash benefits, Air Ambulance Cover etc. Global+ optional package which is only available with Global Plan will add various benefits like Travel Expenses, Global OPD cover etc. to your global coverage
The ease of transfer
One of the biggest reasons that people hesitate to switch their health insurance is the possibility of losing out on the benefits they have earned in their current plans. The continuity benefits of your health plans have played an essential role in helping you get the best possible cover and ManipalCigna offers easy portability making your switch as comfortable and rewarding as possible. If you want to port to ManipalCigna Lifetime Health Plan and your existing health cover (excluding bonus) is Rs. 10 lakhs or above, then you will get the continuity benefit on the entire Sum Insured opted in ManipalCigna Lifetime Health Plan.
Where your loyalty is rewarded
In addition to this, ManipalCigna Lifetime Health Plan rewards your loyalty to them in unique ways that will surely benefit you. From the fourth policy year to 7 th policy year in the ManipalCigna Lifetime Health plan, you will get 5% discount on the premium then from the 8th policy year onwards this discount is increased to 10%! So you can continue to enjoy the perks of the best healthcare facilities at a considerably lower cost, for a lifetime.
In the past year, the importance of choosing the right health insurance cover, having the option of access to treatment at the best hospitals and how these choices can help keep your family safe has become distinctly clear. And ManipalCigna Lifetime Health Plan has been created to fulfil all these needs and more for a lifetime. If you are keen to make global healthcare more accessible for you and your family and understand the need for higher health covers, you can click here to know more about this carefully crafted health insurance plan that has your back!
* Premium quotes as per the brand website.
Disclaimer: This article has been produced on behalf of ManipalCigna by Times Internet’s Spotlight team.