Reliance Health Insurance Offers MORE

Indian Health insurance industry over the last decade has seen a steep growth and varied innovation in terms of products and services. The industry grew over 12 times from mere Rs. 3000 Cr in 2009 to Rs. 36000 Cr in 2018. More importantly, the industry is poised to grow the same rate over the next few years and as many believe it would touch Rs. 100,000 Cr mark.

With this at the backdrop, Reliance Health insurance has forayed in the space and launched its first health insurance plan by the brand name MORE – Health insurance. True to its name, MORE is an intelligently crafted health plan that keeps customer at the centre to always give more than what expect. According to Reliance Health insurance, MORE as a product primarily aims in making make health insurance Easy-to-choose, Easy-to-buy and Easy-to-use. More is More.

Innovations around MORE.

Mr. Ravi Vishwanath, Executive Director and Chief Executive Officer, Reliance Health Insurance said, “With over 200 health plans available in the market, our challenge was to create something that is innovative and add value to our customer. We worked closely with the customers for over a year to understand their need and create a proposition that is unique and works towards making health insurance Easy-to-choose, Easy-to-buy and Easy-to-use.”

Key differentiated product benefits:

1. MORE Benefits: There are three unique MORE benefits that a customer can choose as per their requirement and needs.

• MORETime: One who wants to get value from having a longer tenure of the insurance cover would find this interesting. This benefit gives a one month extra cover for a 12 months plan and 2 months extra cover for a 24 months plans without any additional cost. Customers get a 13 months plan for the price of 12 months cover and 26 months plan for a price of 2 years cover.
• MORECover: Reliance Health insurance customer insight brought out the need to have a larger cover hedging the risk arising out of rising medical cost. MORECover just does that, it enables one to get Rs 7 lakhs. Sum insured for the price of Rs. 5 lakhs cover (5 Lakhs base cover and 2 lakhs MORECover Benefit)and Rs. 13 lakhs cover for a price of Rs. 10 Lakhs Sum insured (10 Lakhs base cover and 3 lakhs MORECover Benefit). MORE is more for the customers.
• MOREGlobal: Why should one’s health cover not work when travelling abroad? MOREGlobal just does that. The health cover remains active upto the sum insured even while travelling abroad. This provides coverage for unexpected treatments required while travelling overseas.

One MORE benefit comes free with the plan: One of the above three MORE benefit comes free with the base plan and customers can choose the one he/she feels is the best. Other two is also not far, one needs to pay a nominal amount to get them activated in the plan.

Why pay for benefits that one does not need or use: MORE gets rid of all those frills that increase the cost and is often not used by the customers like maternity, dental, health check etc. MORE is simple and devoid of silent features and restrictions.

2. Easy-to-choose: Research always showed that complicated and complex benefits incubate doubts in the mind of the buyers. MORE from Reliance Health insurance just does that it takes the confusion out of the benefits.

• No Sub-limits: In our country medical treatment cost are linked to the room one chooses in a hospital and customers were facing problems at the time of claims due to the sub-limits that is often pressed with room rents. MORE from Reliance Health insurance does not come with any sub-limits around room rent. Customers can focus on treatment when at hospital rather than thinking about which room to take and their insurance coverage.
• Day Care procedure list: Insurance plans often come with list of treatments / procedures covered under day care, where a claims is admissible even if one doesn’t spend 24 hours in the hospital. Reliance Health Insurance understood the need and made it open for all procedures. MORE doesn’t come with a list of day care procedures. If a procedure fits the Day Care treatment definition, customers are free to take the treatment and go home and not spend the night at the hospital.
• Health Check: Insurance policies often provides for a health check once in 3 or 4 years and that too at a designated clinic. This is very less utilised. MORE health plan is customer centric and makes it easy for the customer to take a health check up. All one needs to do is to take a health check up, upload the reports and get upto 10% discount on the renewal premium. So, one gets the benefit every year and can take the check wherever it is comfortable. After all freedom is convenience.
• Ambulance Charge: MORE health plan comes with no restrictions on the ambulance charge. In case of emergency, customers are free to take the best possible option and get themselves to the hospital.
• Transportation Benefit: While in emergency one needs an ambulance but in case of a planned treatment and admission to a hospital, MORE allows one to claim upto Rs. 500 for a taxi to the hospital.

3. First of its kind benefits:

• Robotic Surgery: MORE is the future and covers treatment those are future looking like Robotics. Robotic surgeries which are less invasive and results in quick recovery but cost a lot more. MORE provides coverages for such treatments with a 50% co-payment.
• Mental Illnesses: MORE health plan covers for mental illnesses for which one needs hospitalisation like Alzheimer’s and Parkinson’s.
• Stem Cell therapy:Stem cell therapy an upcoming futuristic technology in medical science and is of immense importance. MORE covers stem cell surgeries and therapies with a co-payment.

4. Other Regular benefits: MORE has got all that is required for an individual or a family in order to stay health covered. MORE health plan from Reliance Health Insurance comes with:

• Restore Benefit: Restores the sum insured when exhausted in the middle of the year without any extra charge.
• Life long Renewal: Guaranteed renewal till any age. The cover that never gives up on you.
• Pre and Post Hospitalisation: MORE comes with the most comprehensive pre and post hospitalisation cover. It covers for 90 Day pre and 180 days post hospitalisation. In total, when a claim for inpatient is admissible the insured member is covered for total of 270 day out of 365 in addition to the days one spends at the hospital.
• Domiciliary Treatment: There are times when one doesn’t get a bed at the hospital or cannot be shifted to a hospital due to medical conditions. MORE health plan covers for the same. One can get claims while taking treatment from home.
• Organ Donor Coverage: MORE health plan understands that during organ transplantation, it is the donor who also needs coverage and support. MORE covers for the donor expenses too.
• Alternative Treatments: MORE respect one’s choice of treatment and covers when one feels alternative treatment is a better way. All alternative treatment in designated alternative centers are covered by Reliance Health Insurance under MORE health plans.

More is More and it is easy to choose, buy and use. Reliance health insurance is happy to bring in a fresh take on how a health insurance should be and going by the initial customer response to its offering it is expected to evolve as one of the most liked health insurance plan in India.

About Reliance Health Insurance

Reliance Health Insurance Limited is a wholly owned subsidiary of Reliance Capital Limited. It was incorporated on May 4, 2017. Its purpose is to help people live better lives with ‘automagic health insurance’. Reliance Health Insurance believes that Private Health Insurance is the best way for India to finance its growing healthcare needs. The company seeks to use technology disruptively to deliver a magical customer experience, with world class efficiency and productivity.

The Company obtained regulatory approval on October 3, 2018 from the Insurance Regulatory and Development Authority of India (“IRDAI”) to undertake health insurance business in India.