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Max Life Insurance, a private life insurer, has ventured into the health and wellness segment with the launch of a new plan, SEWA.
The Secure Earnings & Wellness Advantage (SEWA) plan covers hospitalisation, ICU stay, surgeries, critical illness, and disability, besides life cover.
To drive insurance adoption among women and transgender customers, as part of financial inclusion, it offers them a 5 per cent discount in the first-year premium.
Prashant Tripathy, Managing Director and CEO, Max Life, said, “SEWA is a unique product that combines the benefit of health, security and financial stability. A product of innovation based on deep consumer insights, SEWA is a testament to Max Life’s dedication to contribute towards a healthier, financially secure India.”
Additionally, the offering provides customers with access to Max Fit wellness digital app, which incentivises leading a disciplined and healthier lifestyle through enhanced maturity benefits. Customers can unlock a 5 per cent discount on the first-year premium by registering on the app. They can record their healthy habits on the app and earn wellness boosters. The accrued wellness boosters will be paid along with the maturity benefit.
As per Max Life’s latest research on retirement (India Retirement Index Study), 59 per cent of Indians prioritise health while planning for retirement. SEWA aims to provide a blend of financial security and health benefits.
Other features include health plan with a return on premiums and partial withdrawals on traditional guaranteed plan (applicable if all due premiums are paid).
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