This is something which was the need of the industry. Most health insurance plans in India cover just the immediate family. And when we say immediate, it typically means just 4 family members. So in case you are married and have kids, you cannot cover your parents in the same plan.
Now Max Bupa Health Insurance Company, which is the latest entrant into the health insurance segment, has launched a plan called Family First in which you can cover your extended family also. So with one health insurance plan you can cover your spouse, children, parents, grandparents and even more. It really does not get better than this.
In-spite of being a major requirement there were not too many insurance companies in India which offered such a policy. One had to actually choose between your wife or your parents when making this decision (Ya ya we know you have to make that choice almost once in a week – so what’s the big deal!).
We are gradually seeing the benefits of competition in the health insurance space. Increasingly we are seeing innovative products being launched which cater to specific needs. We need to have more products for senior citizens for example. That’s when we actually need proper health care facilities.
Let’s hope we see more products like this from health insurance companies.
Good one Max Bupa!