Confused with Max Bupa

[chincho]

I need to buy a family floater cover for me and my spouse with a cover of 5 lacs. After going through policies of various companies I have zeroed in on Max Bupa Health Companion.

The policy has a higher premium but the features because of which I considered this policy are
1. Direct settlement, no TPA
2. Assured renewability for life
3. Cover all day care procedures
4. Only 24 months waiting period for pre existing diseases

I am not sure about the claim settlements of Max Bupa. I know that ICICI Lombard has very high claim settlement ratio. Is policy form Max Bupa worth buying as this is a rather new player in India.

Thank you in advance.

[>take]

The best part of Max BUPA is the first insurance company to offer health insurance policy of a sum insured of Rs. 15 Lakh to Rs. 50 Lakh. Before that, average size of the sum insured in health insurance was Rs. 2 Lakh. This part is best due to rising medical costs, people are attracted to health policies with a higher insured sum to assure that they have plenty of medical coverage.

[Aman]

In the FY 2010-11 the claim ratio of MAX-BUPA is 50.31 per cent. But for a new insurer it's OK.
I personally go with PSU insurers because of there wide branch network but yeah the sum insured issued under Max Bupa health insurance is match with the current medical requirements.

[Madhura]

As per Max-BUPA Health Insurance Terms & Conditions -
“It will not cover some things permanentaly like Ageing ; Artificial life maintenance; Circumcision; Drugs and dressings for outpatient or take-home use; Eyesight; Obesity; Out Patient Treatment; Neurological and Psychiatric Conditions; Sleep disorders; Speech disorders;”

What is left, when they are saying all is covered?

Plus some more conditions good for new proposal -
1. No Medical test for joinees who age is less than 60
2. Inclusion of all illness from the policy effective date (Pregnency Not included)
3. No Hospital room rent difference which is not seen in any other policy
4. Little higher premium compared to all other policies
5. Complete reimbursemtn of money including Dispovan, Bandages, Etc.

But how they accept good proposals without medical tests? To me it's looks like they increase the premium from second year onwards on the basis of claims.