RSS FeedMax Bupa to Provide Health Insurance in India Insurance News Net (press release)
Max Bupa Health Insurance, a joint venture between Max India Ltd. and Bupa, has rolled out its stand-alone heath insurance operation in India with an eye to the growing potential of this under-penetrated market segment.
As the third stand-alone health insurance company in India, Max Bupa started operations in six key cities: Delhi, Mumbai, Bangalore, Chennai, Hyderabad and Pune. The health insurer has its own third-party administrators to handle claims and customer services directly.
Max Bupa is 74% owned by Max India, a conglomerate with businesses in life insurance and health services. U.K.-based Bupa holds a 26% stake in the joint venture.
"Our entry into health insurance is a logical extension of our focus on the businesses of life," said Analjit Singh, chairman of Max India. Max New York Life Insurance Co. Ltd. is the group's life insurance joint venture with New York Life Insurance Co. Ltd. in India.
The health insurance venture aims to replicate the group's existing
8 useful tips for buying life insurance
By Laura Starkey
If you're in need of life insurance but have no idea how to go about buying a policy, these tips should help you find the right deal.
If you've reached the stage in your life where life insurance is a must-have financial product, the next step is finding a policy that will suit you.
However, searching for life insurance isn't always a simple task. The array of different options available to you may feel daunting, and there are many things you must consider to make sure you choose a policy that properly reflects your needs.
In this article, I'm going to offer eight tips that should help anyone on the hunt for a new life insurance policy.
1. Don't delay
If you know you need life insurance, don't delay buying a policy. If you are young and healthy, it will be cheaper for you to buy life cover now than it might be in a few years' time.
This is because all insurers base the price of customers' premiums on risk assessment – and in the case of life insurance, the key risk considered is how likely it is you will die.
2. Shop around
It's a good idea to shop around when buying any form of insurance, and life cover is no exception.
Shopping around is important because not all insurers assess risk in the same way. For example, insurance companies tend to increase prices for customers who don't have a healthy body mass index, but not all will add the same 'load' to an overweight customer's premium. (You can read more about this here.
Many mortgage lenders offer life insurance to their customers, but buying from them may mean you don't get the best deal. This is because lenders tend to be tied to just one insurance provider and are unable to scour the market.
If you're looking to compare life insurance deals, BeatThatQuote.com's life insurance service could put you in touch with an independent, whole-of-market broker who will help you find the cover...
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