Niva Bupa Health Insurance Company Limited has launched a new health insurance plan called “Rise” to provide affordable and accessible healthcare to India’s “Missing Middle” population. This segment, comprising around 40 crore Indians, earns too much to qualify for government-sponsored health schemes but too little to afford premium private health insurance. The plan is designed to bridge the gap of inadequate coverage for this segment, which is vulnerable to financial burdens during medical emergencies.
The “Rise” plan offers several industry-first features, including a flexi-payment option that allows customers to pay their premium in installments, with a token amount of just 20% of the total premium. Additionally, the plan provides a smart cash benefit of Rs 5,000 if the customer chooses to avail treatment at a government hospital instead of a private hospital.
Other key features of the plan include a return benefit of 50% of the total premium paid, which is added to the base sum insured, and unlimited digital consultations in 16 vernacular languages. The plan also offers optional benefits, such as the ability to modify room type categories and remove capping on modern treatments.
The plan is available in individual, multi-member, and family floater variants, with zone-wise pricing starting from Rs 6,416 for a 35-year-old individual with a sum insured of Rs 10 lakh. Niva Bupa aims to make health insurance more flexible, rewarding, and accessible with the “Rise” plan, ensuring that every Indian has the confidence to seek the best healthcare without financial strain.
According to Dr. Bhabatosh Mishra, Director – Underwriting, Products & Claims at 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 plan is designed to empower individuals and families with access to healthcare and financial security.
Niva Bupa has a strong presence in India, with over 212 branches across 22 states and 4 union territories, and a network of 10,299 hospitals. The company has an annual average claim settlement ratio of over 90% and covers 19.8 million lives. With the launch of “Rise,” Niva Bupa aims to further expand its reach and provide affordable health insurance to a larger segment of the population.