11 min read
Updated on Mar 24, 2023
Niva Bupa, formerly known as Max Bupa, is a standalone health insurance provider in India. The company is a joint venture between Fettle Tone LLP and Bupa Singapore Holdings Private Limited. Fettle Tone LLP is an affiliate of True North Fund VI LLP and is a private equity firm of India. Bupa, on the other hand, is a leading healthcare provider globally. Together, both these companies, come to offer comprehensive health insurance solutions for the Indian masses.
Niva Bupa’s health insurance plans are meant for individuals, families, senior citizens as well as corporates. You can buy any suitable policy as per your needs and get good coverage.
Here are some of the key highlights of the company
|Cashless claim settlement||30 minute processing for 9 out of 10 claims|
|Existing customers||More than 7 million lives|
|Agent network||More than 34,000|
The company has won many awards in the industry for its innovative products, services and performance. Here’s a look at some of them –
The health insurance plans of the company are quite comprehensive. Here are some of the most common coverage benefits found in its plans –
|Inpatient-hospitalization cover||During inpatient hospitalization, you undergo treatment for an illness or injury in a hospital. The cost of hospitalization and treatments are covered, if you are admitted for 24 hours or more|
|Pre-hospitalization cover||When you incur medical costs before hospitalization for the same illness or injury for which you are being hospitalized, such medical costs are covered for a certain number of days.|
|Post-hospitalization cover||Following treatment and discharge, if there are medical expenses incurred for recovery or post-operative care, those expenses will be covered for a set period.|
|Day-care cover||A day-care treatment does not require hospitalization for 24 hours. The plan covers these types of treatments as well.|
|Ambulance cover||In this category, you will find the costs associated with using an ambulance for transport to the hospital.|
|Organ donor cover||A policy covering your organ transplant would also cover the costs of a donor’s hospitalization and subsequent transplantation surgery.|
|AYUSH cover||Many Niva Bupa health insurance plans also cover non-allopathic treatments such as Ayurveda, Unani, Homeopathy, and Siddha.|
|Domiciliary cover||Patients are hospitalized at home either because of insufficient hospital beds or because they cannot afford a hospital stay. The practice of receiving care at home rather than in a hospital is known as domiciliary hospitalization. Niva Bupa health plans provide coverage for such hospitalizations.|
|Free health check-ups||Additionally, Niva Bupa policies allow you to monitor and assess your health by having health check-ups, free of charge, after regular intervals.|
|No claim bonus||If you don’t claim within a policy year, you earn a no claim bonus. Many Niva Bupa plans allow the sum insured to be enhanced under the bonus while in some cases you might avail of a discount on renewal premiums.|
Even though the policy covers certain medical conditions, Niva Bupa has a list of exclusions that won’t be covered. It is possible to find the exact exclusion list in the policy wordings. Nevertheless, some common exclusions include the following:
Niva Bupa has a wide variety of health insurance plans in its kitty. Some of the leading policies of the company, also available at PayBima, include the following –
A comprehensive health insurance plan available both on an individual and family floater basis, Reassure can provide all the coverage benefits that your family needs. Here are some of the salient features of the policy –
Features of Niva Bupa Reassure Health Insurance
Eligibility Conditions of Niva Bupa Reassure Health Insurance
|Sum insured||Rs.3 lakhs to Rs.1 crore|
|Pre-existing waiting period||3 years|
|Number of members covered||Up to 6 members|
This is also an indemnity-based health insurance policy that covers your actual medical costs. The policy has the following salient features –
Eligibility conditions of Niva Bupa Health Companion Plan
|Sum insured||Rs.2 lakhs to Rs.1 crore|
|Entry age||91 days onwards|
|Pre-existing waiting period||Variant 1 – 48 months
Variants 2,3 and 4 – 36 months
|Policy term||1 year or 2 years|
Health Recharge is a super top-up policy that has a sum insured and a deductible. If your aggregate claims exceed the chosen deductible, the policy pays the excess claim. Some of the highlights of the policy are as follows –
Eligibility conditions of Health Recharge Plan
|Sum insured||Rs.2 lakhs to Rs.95 lakhs|
|Deductible limit||Rs.10,000 to Rs.10 lakhs|
|Pre-existing waiting period||4 years|
|Number of members covered||Up to 2 children and 4 adults|
Purchases of Niva Bupa Insurance Plans can be made either online or offline. PayBima offers a simple online purchase mode and the process to buy through PayBima is as follows:
PayBima provides the facility of purchasing a health insurance policy, as well as renewing it on its website. Niva Bupa offers lifetime renewals. So if you renew on time, you can keep your coverage uninterrupted.
By providing your policy number and other details, you can renew your health insurance policy online. During the renewal process, you can review your plan details and make any necessary changes. There may be a separate premium required if the plan changed or need change. Alternatively, you can contact PayBima via email at email@example.com or by phone at 1800 267 67 67 for more information about renewing your Niva Bupa Insurance Plan.
PayBima makes it very easy to file a claim under the Niva Bupa Insurance Plan. You just need to complete the following steps:
PayBima has been settling customer claims smoothly and efficiently. You can contact PayBima for assistance with claim settlement by calling 1800 267 67 67 or by emailing firstname.lastname@example.org.
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Answer a few simple questions to determine the ideal plan that suits you best at PayBima Health Advisory.
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A pre-existing illness is defined as a medical condition that you have when you are buying a fresh health insurance policy. Since the medical condition exists at the time of a new purchase, it is called a pre-existing condition. Coverage for the known pre-existing condition is excluded for the first few years called the waiting period.
No, in the case of a claim, the accumulated no claim bonus does not become zero. It merely reduces by a specified percentage.
The sub-limit on room rent depends on the policy that you buy and the sum insured. Under Reassure and Health Companion plans, no sub-limit is applicable on the room rent. However, under Health Recharge, if the sum insured is up to Rs.4 lakhs, the sub-limit is 1% of the sum insured. For higher sum insured levels, however, a single private AC room is allowed.
Yes, the facility of instalment premium is available under Niva Bupa health insurance plans.
The premium is eligible for a deduction under Section 80D up to a limit of Rs.25,000. If you are aged 60 years or above, the limit is increased to Rs.50,000. Furthermore, if you pay premiums on a health policy for your parents, you can claim an additional deduction. This additional deduction is also up to Rs.25,000 if your parents are below 60 years and Rs.50,000 if they are senior citizens.
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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