Niva Bupa Health Insurance Company Limited, a leading standalone health insurer in India, has launched a new health insurance plan called “Rise” designed specifically for the “Missing Middle” population. The Missing Middle refers to approximately 40 crore Indians who earn too much to qualify for government-sponsored health schemes but too little to afford premium private health insurance.
Rise aims to bridge the gap of inadequate coverage for this segment by offering unique, customized benefits that cater to their needs. The plan is based on comprehensive consumer research, which revealed that people in this cohort have seasonal income and are looking for tangible benefits to manage their health due to the lack of good primary private healthcare.
Key features of Rise include:
- Flexi-Pay Benefit: Allows customers to pay a token amount of 20% of the total premium and pay the rest anytime during the policy tenure.
- Smart Cash Benefit: Offers a guaranteed cash payout of INR 5,000 if the customer decides not to visit a private hospital and opts for treatment in a government hospital.
- Return Benefit: Returns 50% of the total premium paid by the customer as an additional sum insured, which accumulates over a lifetime with a 10% bonus added each year.
Additionally, Rise offers unlimited digital consultations in 16 vernacular languages, allowing customers to consult with general practitioners anytime, anywhere. The plan also comes with optional benefits that enable customers to modify their room type category, remove capping on modern treatments, and increase the limit up to the base sum insured.
Rise is available in Individual, Multi-member, and Family floater variants, with zone-wise pricing starting from as low as INR 6,416 to INR 8,669 for a 35-year-old individual for a 10 lakh sum insured. The plan covers a comprehensive range of healthcare expenses, including hospitalization, domiciliary, and home care treatment, as well as pre and post-hospitalization expenses.
According to Dr. Bhabatosh Mishra, Director – Underwriting, Products & Claims, Niva Bupa Health Insurance, “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 aims to make health insurance more flexible, rewarding, and accessible, ensuring that every Indian has the confidence to seek the best healthcare without financial strain.