new delhi good news for those living in tier ii cities and smaller towns a new health insurance policy launched by max bupa charges a lower premium if you live in a tier ii city or small town the healthcompanion is an online product that can be bought on the net the policy has a threetiered tariff customers living in the eight metros will pay the highest charges then come the state capitals and finally the rest of india a 25yearold living in delhi will pay rs 2263 a year for a cover of rs 2 lakh if he was living in chandigarh a tier ii city he would pay rs 2037 but if he was in agra a tier iii city the premium would be only rs 1811 the premiums are based on the area in which the buyer resides the lower charges for tier ii and tier iii cities reflect the lower cost of healthcare in those areas as compared to metros says manasije mishra ceo of max bupa health insurance however even though the buyer may be living in a small city he can avail healthcare services anywhere in the country you may be living in kohlapure but if you are admitted to a hospital in mumbai the policy will cover the expenses this is especially beneficial for those living in nonmetros other insurance companies including psu insurers charge a flat rate to all customers incidentally even for metro customers the healthcompanion premium is lower than that charged by other insurers there is another 10 discount if you buy a twoyear policy if you change your residence and move to a metro after buying the policy you may have to pay a small additional charge for the upgrade however families where one member lives in a metro while the others live in the hometown may not find this very useful a gentle warning for buyers who think they can lie about their address and get a discounted rate though the policy can be bought online and in some cases may not even require a medical check up the company will verify your residence status when you file a claim the discount offered for tier iii city is attractive but stating incorrect facts could put your claim in jeopardy max bupa expects the divide and sell proposition to further boost its sales the companys premium income has shot up 743 to rs 10467 crore between april and november 2012 compared to rs 60 crore during the same period of the previous year the overall health insurance industry has grown by around 12 during the same period the online medium allows us to service virtually every part of the country says a confident mishra