Niva Bupa launches health cover for the `missing middle’

Mumbai: Standalone health insurer Niva Bupa has introduced Rise, a health insurance plan aimed at India’s “missing middle”—those who earn too much to qualify for Govt schemes but too little to afford private insurance. Designed with affordability and flexibility in mind, the plan allows policyholders to initiate coverage with just 20% of the premium, paying the remainder at their convenience.
It also offers incentives for treatment in Govt hospitals and rewards long-term policyholders with additional coverage. By addressing the financial constraints that keep millions uninsured, Rise seeks to expand healthcare access in a market where medical costs often push households into debt.
The policy also caters to individuals with irregular incomes, with early payments attracting higher discounts. A Rs 10,000 premium, for example, requires only Rs 2,000 upfront, while the Rs 8,000 balance can be paid flexibly, with a minimum monthly subscription of Rs 400 ensuring continued coverage.
As an incentive for taking treatment in govt hospitals, the policy’s Smart Cash Benefit, provides Rs 5,000 for treatment in a Govt hospital upon discharge, helping cover post-treatment expenses. Customers need only submit a discharge summary to claim the benefit. 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. A Rs 10,000 premium, for instance, results in Rs 5,000 being added as extra coverage, with no waiting period or exclusions.
To enhance accessibility, ‘Rise’ provides unlimited digital doctor consultations in 16 vernacular languages. Customers can consult general practitioners anytime, anywhere. The policy also allows customization, enabling policyholders to upgrade their room type and extend modern treatment coverage up to the base sum insured.
Available in Individual, Multi-member, and Family Floater variants, pricing varies by zone and coverage type. A 35-year-old individual can get a Rs 10 lakh cover for Rs 6,416–Rs 8,669. A self-and-spouse policy for individuals aged 35 and 32 costs Rs 11,546–Rs 15,605, while a floater policy covering two adults and one child ranges from Rs 13,484–Rs 18,222. All premiums include 18% GST.
Niva Bupa health director and chief business officer, Bhabatosh Mishra, said the plan aligns with IRDAI’s vision of making health insurance more affordable and flexible. The scheme aims to bridge the insurance gap and provide financial security to underserved segments of the population.
As of Dec 31, 2024, Niva Bupa has 212 branches across 22 states and 4 UTs, with a network of 10,299 hospitals. The company covers over 19.8 million lives and has maintained an annual average claim settlement ratio of over 90%.