Private health insurers offering discounts on renewal premia

Most health insurance provides no-claim bonus for claim-free years but that usually ranges from 25 per cent to 50 per cent.

Mumbai: Private health insurers are encouraging their customers to lead healthy and active lives by offering steep discounts on the renewal premia between 80 and 100 per cent, along with a host of other rewards and benefits.

Most health insurance provides no-claim bonus for claim-free years but that usually ranges from 25 per cent to 50 per cent.

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While Aditya Birla Health Insurance is offering up to 100 per cent return of the premium if the customer has accrued adequate number of ‘Activ Dayz’ (one Activ Day means 10,000 steps a day, or any fitness activity specified by the insurer), another firm Future Generali earlier this month launched a policy offering a flat 80 per cent discount on renewal if the customer did not make any claim in the previous policy year.

Aditya Birla Health said the new product is an enhanced version of its existing Activ Health policy offering extensive wellness benefits for those customers who lead a healthier lives.

Explaining the features, its Chief Executive Officer Mayank Bathwal said the new policy is an industry-first initiative, offering up to 100 per cent health returns through incentive-based health and wellness programmes.

“A customer can get up to 100 per cent health returns on the renewal premium by completing the adequate number of Activ Dayz (one Activ Dayz is equal to 10,000 steps or 300 calories burned or a daily 30 minute gym session or a fitness assessment test every six months).

A consumer is rewarded through a cash-equivalent that can be used for either health-related expenses like buying medicines, paying for diagnostic tests, day care treatment, out-patient expenses, and alternative treatments, or can be used towards the payment of future premium, it added.

It also offers double sum insured in two claim-free years, which means such a customer can earn 50 per cent no-claim bonus for every claim-free year and a maximum up to 100 per cent of the sum insured.