Health insurance company Max Bupa Life Insurance as launched its new health insurance policy. The new policy which is known as the Health Assurance, offers defined benefits to its policy holders. The new policy is available as an individual policy as well as a family floater.

According to the new policy, a fixed payout is handed out in the event in the event of critical illness and accidental death or permanent, partial/total disability. The policy will also pay for incidental expenses incurred on travel, accommodation expenses and food of family members who accompany the insured patient.

Moreover, the policy holders will have the option of buying all the covers or any one of them. The policy covers about 20 ailments listed in the policy documents. In case of critical illness, the insurer offers minimum of Rs. 3 lakh and the upper limit is Rs. 10,00,000.

But the policy holder will only receive the amount only after the survival period of 30 days as passed. In case of personal accident, the minimum and maximum cover is Rs. 5 lakh and Rs. 25 lakh respectively. And if the policy holder dies due to an accident, then the amount will be passed on to the nominees.