Niva Bupa Unveils 'Rise' Initiative to Empower India's Missing Middle.
National
On March 07, 2025, New Delhi (Delhi) based Niva Bupa Health Insurance Company Limited (formerly Max Bupa Health Insurance Company Limited) launched 'Rise', a health insurance plan designed to cater to the healthcare needs of India's "Missing Middle."
- The plan aims to make health insurance more affordable, flexible, and customized to serve underserved communities, ensuring individuals and families gain access to essential healthcare and financial security.
- It aligns with the Insurance Regulatory and Development Authority of India’s (IRDAI) vision of "Insurance for All by 2047."
- The 'Rise' health insurance plan offers affordable premiums, ranging from Rs. 6,416 to Rs. 8,669 (inclusive of 18% Goods and Service Tax, GST) for a Rs. 10 lakh sum insured. Additionally, the Flexi-Pay Benefit allows customers to start their policy by paying 20% of the total premium (e.g., Rs. 2,000 for a Rs. 10,000 premium) and paying the balance anytime during the policy tenure. Monthly subscriptions as low as 5% of the balance premium (e.g., Rs. 400) keep the policy active.
Main Point :- (i) The plan includes a Smart Cash Benefit, where customers treated at a government hospital can claim a Rs. 5,000 cash payout to cover post-treatment expenses. This feature ensures that individuals receive financial support for necessary recovery after hospitalization.
(ii) The 'Rise' plan also provides a Return Benefit, offering 50% of the total premium paid as an additional sum insured, with a 10% annual bonus on the accumulated amount. It covers hospitalization expenses, pre-and post-hospitalization costs, and daycare procedures, ensuring comprehensive health protection.
(iii) The term 'Missing Middle' refers to the 40 crore Indians who earn too much to qualify for government health schemes but too little to afford private health insurance, as highlighted by the NITI Aayog report (October 2021). The 'Rise' plan is designed specifically to address this gap, providing affordable and accessible healthcare coverage for this underserved segment.
About Niva Bupa Health Insurance Company Limited
MD & CEO : Krishnan Ramachandran
Headquarters : New Delhi
____________________________
