Money & Banking

Bajaj Allianz launches ‘BAGIC GOQii Co-pay Option’ under regulatory sandbox

Our Bureau | | Updated on: Apr 23, 2020
image caption

 

Bajaj Allianz General Insurance, along with smart-tech enabled preventive healthcare platform GOQii has launched a new add-on health cover called ‘BAGIC GOQii Co-pay Option’ under regulatory sandbox approval received from the IRDAI, that would reward customers with a healthy lifestyle.

“This option will be an add-on cover which can be opted by the holders of company’s existing health insurance policy — Health Ensure,” Bajaj Allianz said in a statement on Thursday, adding that the objective behind this product is to reward customers who are adopting a healthy lifestyle in the form of co-pay deduction in their health insurance policy.

 

Once the policyholder agrees to opt for the add-on cover, GOQii will on-board the customer on their app to monitor their engagement level and also dispatch the health band. Policy will start with a co-pay of 50 per cent on completion of day 60, after which the insured can check his/her engagement level and co-pay level on the GOQii app itself, every 30 days.

“Based on the engagement level, the co-pay percentage will change. The maximum co-pay level would not be more than 50 per cent. The other levels include — 30 per cent co-pay, 20 per cent co-pay and zero per cent co-pay,” the statement further said.

The option can be availed by individual policyholder with a policy tenure of one year with an insured sum of ₹3 lakh, ₹4 lakh or ₹5 lakh.

“The premium of this policy will vary depending on the zone a person resides as defined in the policy document, age group and the sum insured opted,” it said, adding that the premium will range between ₹1,894 and ₹7,365 for an individual policyholder, excluding GST. Additionally, on opting for this add-on cover, one can avail a 25 per cent discount on the premium.

Published on April 23, 2020

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

COMMENTS
This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you