Bank of Maharashtra launches ‘Mahashakti’ – a Women Cancer Coverage Program powered by ManipalCigna Health Insurance

Pune, March 11, 2024: On the occasion of International Women’s Day, Bank of Maharashtra, one of the leading public sector banks, today launched Mahashakti- a Women Cancer Coverage Program powered by ManipalCigna Health Insurance. This tailor-made women cancer coverage program under ManipalCigna Flexicare Group Insurance Policy is meticulously crafted to cater exclusively to Bank of Maharashtra customers, offering comprehensive coverage for the treatment of ovarian cancer, breast cancer, and cervical cancer.

Several studies show that India has witnessed a significant increase in the incidence of women's cancer, including breast, ovarian, and cervical cancer. Factors such as lifestyle changes, environmental factors, and genetic predisposition contribute to the rising prevalence of these diseases. Moreover, the cost of cancer treatment continues to soar, placing immense financial strain on individuals and families. The burden of medical expenses often leads to delayed or inadequate treatment, exacerbating the health outcomes for women battling cancer. Thus, to help take away the financial burdens of its customers and for greater peace of mind before unexpected illness strikes, Bank of Maharashtra has launched ‘Mahashakti’ this affordable cancer care solution for women.

Speaking on the launch of a women-centric cancer care solution, Asheesh Pandey, Executive Director of Bank of Maharashtra, said “'Mahashakti' represents more than just a health insurance cover; it embodies empowerment, resilience, and a lifeline of support for Bank of Maharashtra’s women clientele during times of medical uncertainty. With the launch of this tailormade women cancer coverage program in partnership with ManipalCigna Health Insurance, we aim to not only alleviate the financial burden associated with cancer treatment but also to empower women to combat health challenges effectively.”

Rohit Rishi, Executive Director of Bank of Maharashtra further said, “The stress of managing healthcare costs and navigating treatment options can lead to increased anxiety among women, impacting their recovery and overall quality of life. Considering these challenges, all our existing and prospective women customers of the bank are eligible to obtain this cancer care solution for a nominal premium. Under the Mahashakti - a Women Cancer Coverage Program, a customer can be insured between Rs 5 lakh to Rs 20 lakh and the scheme provides a lump sum payout and one medical second opinion upon diagnosis of breast cancer, cervical cancer, and ovarian cancer.”

Commenting on the launch, Shashank Chaphekar, Chief Distribution Officer, ManipalCigna Health Insurance Co Ltd said, “As we witness an alarming rise in cancer cases among women in India, the importance of specialized health insurance coverage cannot be overstated. With medical expenses escalating rapidly, Mahashakti- a Women Cancer Coverage Program aims to ensure access to quality healthcare without the burden of financial constraints. At ManipalCigna, we feel privileged to be associated with the Bank of Maharashtra which shares our commitment to providing better healthcare financing experience to customers through customized solutions. With our combined expertise and the bank's extensive branch network, we are committed to providing simple and affordable cancer care solutions that prioritize the health needs of women and redefine quality healthcare accessibility for women across the nation."