Max Life launches new plan covering 64 critical diseases
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The latest critical illness and disability rider from Max Life Insurance Co. Ltd covers up to 64 critical illnesses, which is one of the highest in the industry. A rider is an add-on cover to a life insurance policy, paying a defined benefit in case of critical illness or disability. It can be attached to any of Max Life’s 11 savings-oriented or pure protection plans.
Along with the rider, the insurer, on Tuesday, launched Max Fit, a wellness programme offering discounts on renewal premium on maintaining a healthier lifestyle. Some of the critical illnesses that the rider covers are angioplasty, open heart replacement or repair of heart valves, permanent paralysis of limbs and Alzheimer’s disease.
Life insurers hit the first big hurdle since June indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Updated Dec 10, 2020 | 17:48 IST | TN Advertorial
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An insurance company boss had once remarked that Indians are the world’s bravest people. The underlying indication in his sarcasm was the abysmally low insurance penetration in the country and the pace of its growth. Insurance penetration calculated as the rate of insurance premiums to GDP stood at around 3.7 per cent in 2019, according to a report by the Insurance Regulatory and Development Authority of India (IRDAI). The comparable global average is almost double that of India’s. So, why are Indians under-insured? Lack of awareness, trust and transparency in varying degrees, agreed the panellists at The Economic Times-IB