Niva Bupa Launches ‘Rise’ for India’s “Missing Middle”

Business Wire India

Niva Bupa Health Insurance Company Limited (Formerly known as Max Bupa Health Insurance Company Limited) – one of India’s leading standalone health insurers has unveiled ‘Rise’—a health insurance plan designed to make quality healthcare more accessible for India’s “Missing Middle.” With several industry-first features that deliver value and flexibility, ‘Rise’ is set to redefine affordability and accessibility in health insurance.
 
‘Rise’ has been designed after comprehensive consumer immersion with consumers in the middle class segment residing in both large and small cities of India to understand their lifestyle, needs and preferences. The interactions revealed insights that people in this cohort have seasonal income and are looking for tangible benefits to manage their health due to lack of good primary private health care. Based on these insights, Niva Bupa has created an affordable and customised health insurance product which offers not just comprehensive coverage to customers but also provides them the option to choose whether they prefer to get treated in a private network hospital or a government hospital. This, coupled with unlimited digital consultations and an option to pay premium as per their convenience makes ‘Rise’ a perfectly suited health insurance plan for this customer segment.
 
In India, the "missing middle" population, as defined by the NITI Ayog report published in October 2021, refers to individuals who earn too much to qualify for government-sponsored health schemes but too little to afford premium of a private health insurance. This segment, comprising of nearly 40 crore Indians, which includes a significant portion of the middle class, is particularly vulnerable in times of medical emergencies, as they face the financial burden of high healthcare costs while lacking adequate coverage. Without access to affordable health insurance, many individuals in this group resort to depleting their savings or borrowing to cover medical expenses, leading to long-term financial instability. Expanding access to affordable health insurance for the “missing middle” is essential for improving healthcare outcomes, preventing medical debt, and fostering economic stability in India. ‘Rise’ is intended to bridge the gap of inadequate coverage for India’s “missing middle” with unique customised benefits to especially appeal to this customer segment.
 
Key Features of Rise:

• Flexi-Pay Benefit: A significant portion of India’s population works in an informal sector; self-employed, own small businesses, daily wage earners and gig workers; with inconsistent monthly incomes. In order to provide affordability to this group, for the first time ever flexi-payment has been introduced for purchase of health insurance cover, wherein customers can start their policy by paying a token amount of just 20% of the total premium amount and pay the rest anytime during the policy tenure. The sooner they complete the payments, the higher the discount they receive.

Example – For a total premium of INR 10,000, the customer just needs to pay INR 2000 (20% of 10,000) token amount to start the policy and pay the balance premium anytime within the policy tenure. In order to keep the policy active, the customer just needs to pay INR 400 (5% of the balance premium of INR 8000) as monthly subscription.
 
• Smart Cash Benefit: The plan offers something to the customer even when they wish to avail treatment for free in a government hospital. If the customer decides not to visit a private hospital and does not make a claim under the ‘Rise’ policy for their treatment, they can claim a guaranteed cash pay-out of INR 5,000 from Niva Bupa upon submission of his discharge summary from the government hospital to take care of their post-treatment expenses.

• Return Benefit: Yet another industry-first feature being introduced with ‘Rise’ is return of 50% of total premium paid by the customer as an additional sum insured, over and above the base sum insured. So, for a 10,000 premium INR 5,000 will be returned back to the customer as additional sum insured. This amount will accumulate for lifetime with 10% Bonus being added on the accumulated amount every year. No Waiting Period or Exclusion will be applicable on this ‘Return’ Sum Insured.
 
In addition to these benefits, the product offers unlimited digital consultations in 16 vernacular languages so that customers can consult with general practitioners anytime, anywhere, unlimited times. ‘Rise’ comes with host of optional benefits which provides customers the option to modify their room type category, remove capping of INR 50,000 on modern treatment and increase the limit up to base sum insured.
 
Commenting on the launch of Rise, Dr. Bhabatosh Mishra, Director – Underwriting, Products & Claims, Niva Bupa Health Insurance, said, “At Niva Bupa, we are committed to delivering innovative solutions that cater to the evolving needs of our customers. 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. This plan ensures that health insurance is affordable, flexible, and tailored to the needs of our underserved population, empowering individuals and families with access to healthcare and financial security."
 
Rise is an affordable health insurance plan that would cover comprehensive range of healthcare expenses, including coverage for all treatments needing 2+hours of hospitalization, domiciliary and home care treatment as well as 60 days’ pre and 180 days’ post-hospitalization expenses.
 
The plans are available in Individual, Multi-member and Family floater variants and will have zone-wise pricing starting from as low as just INR 6,416 to INR 8,669 for a 35-year old individual for a 10 lakh sum insured.
 

Coverage Type	Zone 1	Zone 2	Zone 3	Zone 4
35 Year Old for Self only	8,669	7,802	7,802	6,416
Individual Policy for Self & Spouse with age 35 and 32 years	15,605	14,044	14,044	11,546
Floater policy (2A) with age of eldest member being 35 years	14,375	12,937	12,937	10,637
Floater policy (2A1C) with age of eldest member being 35 years	18,222	16,400	16,400	13,484

Note: All premiums shown are for Sum Insured of 10 Lacs and inclusive of 18% GST.
 
With ‘Rise,’ Niva Bupa is making health insurance more flexible, rewarding, and accessible than ever before, ensuring that every Indian has the confidence to seek the best healthcare without financial strain.

About Niva Bupa

Niva Bupa Health Insurance Company Limited is a Public Listed Company on Stock exchange(s). The company’s purpose is to give every Indian the confidence to access the best healthcare. It intends to play the role of an enabler in the lives of its customers and help them live life without constraints. This is reflected in its brand philosophy – ‘Zindagi Ko Claim Kar Le'.
 
As of December 31, 2024, Niva Bupa has over 212 branches across 22 states and 4 union territories in India. It additionally offers health insurance through its ecosystem partners including 1.7+ Lakh agents, 500+ bank brokers, and close to 100 Banca & Other Corporate Agency Partners. The company currently covers 19.8 million+ lives and has 10,299 hospitals empaneled in its hospital network.
 
Niva Bupa has an annual average of 90%+ claim settlement ratio over the last 3 financial years. With an employee base of over 8,800 people, the company is a certified Great Place to Work five times in a row.