Niva Bupa, a standalone health insurer, has introduced “Rise”, a new health insurance plan aimed at India’s “missing middle” – those who earn too much to qualify for government schemes but too little to afford private insurance. This plan is designed with affordability and flexibility in mind, allowing policyholders to pay premiums flexibly with an option to pay just 20% upfront and the remainder at their convenience.
The plan also offers incentives for treatment in government hospitals, and rewards long-term policyholders with additional coverage. Policyholders with irregular incomes can take advantage of early payment discounts, with the option to pay a portion of the premium upfront and the balance flexibly. For example, a Rs 10,000 premium can be paid with just Rs 2,000 upfront, with the remaining Rs 8,000 paid flexibly.
The plan also features a “Smart Cash Benefit” that provides Rs 5,000 for treatment in a government hospital upon discharge, helping to cover post-treatment expenses. Additionally, the “Return Benefit” feature gives back 50% of the total premium as additional sum insured, which accumulates for a lifetime with a 10% annual bonus.
To enhance accessibility, the plan offers unlimited digital doctor consultations in 16 vernacular languages, allowing customers to consult general practitioners anytime, anywhere. Policyholders can also customize their coverage, upgrading their room type and extending modern treatment coverage up to the base sum insured.
Niva Bupa’s “Rise” plan is available in Individual, Multi-member, and Family Floater variants, with pricing varying by zone and coverage type. The plan is available across 22 states and 4 UTs, with a network of 10,299 hospitals, covering over 19.8 million lives and maintaining an annual average claim settlement ratio of over 90%.