Health insurance for many is merely a tax-saving tool. But in a time where sickness and accidents are becoming more frequent, one shouldn’t neglect the health aspects of a health insurance plan. A better awareness about the benefits of your health insurance can go a long way in safeguarding your health as well as your finances. Many health insurance providers offer health coverage but Aditya Birla has come up with a plan that will not only cover your medical expenses but also reward you for keeping fit. Named as the ‘Activ Health plan’, the health insurance policy will help you live without having to worry about the skyrocketing medical bills that you may incur during a medical crisis. The plan offers personalised health services that are cost-effective and also easy to avail which is ensured by the integration of smart technology solutions.
With its Activ Health plan, Aditya Birla intends to fill the gaps in the health insurance segment in India by placing the customer’s health and well-being in its core of operations. Besides offering hospitalisation benefits, the Activ Health plan rewards its customers for exhibiting a healthy behaviour by offering cashbacks. Cashbacks of up to 30% of the premium are given out at the end of every year which gets credited to an individual’s health account. The amount can be used for any coverage that may not be included in your health cover (e.g OPD treatments) and also for paying renewal premiums. Under the Activ Health plan, there are two variants - Activ Health Essential and Activ Health Enhanced. Before we get into the details of these 2 variants, let’s understand how the reward system in an Activ Health plan works.
Reward System in Activ Health Plan:
Any individual who takes up a medical test post 90 days from the time of purchase of the policy, is entitled to earn reward points. The expense for the tests is borne by Aditya Birla and includes tests for cholesterol, body mass index (BMI), blood pressure, blood sugar, and smoking habit. Customers are categorised on the basis of the data into red, amber, and green.
Each month, a percentage of the premium is credited to the health account of the individual based on their activity level. A customer can earn up to 2.5% a month which amounts to 30% a year if he/she meets the criteria to be in the green category by displaying active fitness behaviour. Unlike other health insurance providers who insist on a pre-medical checkup before the purchase of a policy, Aditya Birla offers rewards for free health checkup after the policy is bought.
The activity levels of the consumers are recorded through an app that can be linked to a phone or a wearable device. Apart from that, Aditya Birla has also partnered with gyms in over 50 cities and when you ‘check-in’ at the gym, the gym activity will be recorded in their database. For places where activities cannot be tracked, like yoga and swimming centres, the activity level is determined through a fitness checkup that is done once in every 6 months. The reward for the next 6 months is credited according to the activity level and is applicable for 6 months.
Activ Health Essential Plan:
The Activ Health Essential plan is the starting variant under the Activ Health plan with a maximum insured sum of Rs.10 lakh. An extra coverage can be purchased by paying an additional amount. The key benefits of this plan include coverage for chronic diseases like asthma and diabetes without any waiting period, hospital room choices, cashback rewards on fitness activities, and the option of broad coverage. Some of the other features offered by the Activ Health Essential plan are given below:
- Pre, post, and in-patient hospitalisation expenses are covered under the plan. For pre and post-hospitalisation, coverage is offered for 30 days and 60 days, respectively.
- Day care treatment procedures like dialysis will also be offered coverage.
- Road ambulance and domiciliary hospitalisation expenses are also covered for.
- A second opinion on certain ailments like cancer and heart attack will be provided by a team of medical experts.
- A free health checkup every year.
- If you do not make any claims, you will be eligible for a no-claim bonus of 10% on the sum insured.
- To help you become your healthiest version, a wellness coach will provide you guidance on your health journey.
- Daily hospitalisation allowance will be given for a maximum of 30 days, based on your medical requirements.
- Deductible option applicable on admissible claims.
Activ Health Enhanced Plan:
The Activ Health Enhanced plan provides an enhanced coverage of the sum insured of up to Rs.2 crore. Apart from the above benefits offered by the Activ Health Essential plan, the Activ Health Enhanced plan offers additional benefits like organ transplantation expenses, worldwide emergency services, sum assured reload, and recovery benefits. Also, unlike in an Activ Health Essential plan, there is no need to make a co-payment of 20% on the sum insured. Pre and post-hospitalisation expenses in an Activ Health Enhanced plan are extended to a period of 60 and 180 days, respectively.
Both the Activ Health Essential and Activ Health Enhanced health plan variants by Aditya Birla will boost a healthier lifestyle while letting you enjoy impressive financial returns.