With a Fixed Benefit Cover of INR 50,000, this Health Booster rider combines comprehensive coverage with affordability, marking a significant leap forward in maternity insurance.
Fintech BizNews Service
Mumbai, September 27, 2024: Addressing the critical needs of young couples and expectant parents, Aditya Birla Health Insurance Co. Limited (ABHICL), the health insurance arm of Aditya Birla Capital, India’s leading financial services conglomerate, has partnered with Policybazaar to introduce the Health Booster Maternity Cover Rider. This pioneering solution sets a new benchmark in maternity insurance industry, offering comprehensive coverage with a focus on affordability and accessibility.
This groundbreaking maternity cover rider, which can be bought with base policy, offers an unprecedented 3-month waiting period, making it accessible and beneficial to expectant mothers at any stage of pregnancy. With a Fixed Benefit Cover of INR 50,000, this Health Booster rider combines comprehensive coverage with affordability, marking a significant leap forward in maternity insurance.
The Health Booster Maternity plan covers all types of deliveries, including normal and caesarean. With a flexible entry age criterion, starting from 18 years and above, the plan caters to a broader demography.
Key Features
· Short Waiting Period: Minimal waiting period of 3 months
· Comprehensive Coverage: Fixed benefit cover with a maternity sum insured of INR 50,000/-
· Affordable Premium: Comprehensive maternity protection for INR 25,000 (incl. of GST)
· Rider Applicability: This cover can only be added as a rider to a Base Policy and is not available on a standalone basis.
Mr. Mayank Bathwal, CEO, Aditya Birla Health Insurance Co. Ltd., said, “At Aditya Birla Health Insurance, we believe in evolving with the changing needs of today’s families. The Health Booster rider is a testament to our Health-First insurance model, prioritizing proactive healthcare. This innovative maternity cover offers timely and reliable protection, empowering young couples and parents-to-be to focus on their journey to parenthood with peace of mind, knowing they have comprehensive coverage that truly supports their health and well-being."
Mr. Sarbvir Singh, Joint Group CEO, PB Fintech, says, “We are elated to partner with Aditya Birla Health Insurance in offering this industry-first plan to the consumers. The gap in traditional products often led to a significant number of families ending up without maternity coverage when they needed it. Our data suggests that the demand for maternity insurance is highest among the age-group of 25-35. However, more than 65% of these customers were already expectant by the time their search for coverage starts. The Health Booster plan is a huge leap forward in maternity coverage and offers a solution that empowers couples with swift and reliable coverage.”
The plan covers all types of deliveries, including normal and caesarean, and is priced affordably to ensure accessibility. With flexible entry age criteria, starting from 18 years and above, the plan caters to a broad demographic.
The launch of the Health Booster Plan is poised to transform maternity coverage in India. Going beyond traditional offerings, it addresses the real-time challenges faced by growing families, providing essential support when it’s needed most.
