Critical Illness Cover by Max Bupa


Critical Illness Cover by Max Bupa

Bangalore: Health Insurance Company, Max Bupa, has aimed to offer new products such as critical illness cover and insurance plans by 2013 to help the insurer lead healthier and more successful lives. Presently Max Bupa is dealing only in the health insurance sector.

Critical illness cover insures the policyholder’s health in case of serious illness in return of the premium. Neeraj Basur, CFO of Max Bupa Health Insurance said, “We are considering critical illness policies to be included in our product iin next financial year. However, final decision is yet to be taken. We are still analyzing viability of critical illness policy and travel insurance policy, depending on the final output. We may file for product approval with the regulator.”

Max Bupa Health Insurance Company Limited is a merger of Max India Limited and Bupa Finance plc, a U.K. based company. Though it is a new company in the market, it is doing quite well. In April – November 2011, it has collected a profit of 60.05 Crore.  By queuing up new products such as critical illness cover and insurance plans in the market, Max Bupa is hopeful to enhance their business successfully in India.

In India, health insurance sector is rapidly growing by 30 percent every year. Many non-life companies are now entering into health insurance sector hoping to profit well from this sector.