Niva Bupa Health Insurance Company Limited, a leading standalone health insurer in India, has launched a new health insurance plan called “Rise” to address the health insurance needs of India’s “Missing Middle” segment. The plan is designed to make quality healthcare more accessible to this segment, which includes individuals who earn too much to qualify for government-sponsored health schemes but too little to afford private health insurance.
The “Rise” plan offers a range of features that cater to the unique needs of this segment, including:
* Flexi-Pay Benefit: Flexibility to pay premiums in installments, allowing customers to start their policy with a small token amount and pay the rest later.
* Smart Cash Benefit: A guaranteed cash payout of INR 5,000 for customers who choose to treat themselves in a government hospital.
* Return Benefit: A 50% refund of the total premium paid, with an additional 10% bonus added every year.
* Unlimited digital consultations in 16 vernacular languages.
* Optional benefits, such as modifying room type category, removing capping on modern treatments, and increasing the limit.
The plan is available in individual, multi-member, and family floater variants, with zone-wise pricing starting from INR 6,416 to INR 8,669 for a 35-year-old individual with a sum insured of INR 10 lakh.
According to Dr. Bhabatosh Mishra, Director – Underwriting, Products, and Claims, Niva Bupa, “Rise is not only a step forward in bridging the insurance gap for India’s Missing Middle but also aligns with IRDAI’s vision of Insurance for All by 2047.”
The launch of “Rise” is intended to bring about a paradigm shift in the way health insurance is perceived and consumed in India, making it more flexible, rewarding, and accessible to all. With its unique features and affordable pricing, “Rise” is poised to revolutionize the health insurance landscape in India.