Niva Bupa Health Insurance Plans, Benefits & Hidden Costs

Are you struggling to find the best Health Insurance plans in India? Do not worry, you are not alone. One name that has gained significant attention recently in the health insurance industry is Niva Bupa Health Insurance Company Ltd. But let me tell you, this is not a new company; it already existed under the name of Max Bupa Health Insurance. It is basically a partnership between Fettle Tone LLP, an Indian private equity firm, and Bupa Singapore Holding Pte. Ltd., a British healthcare services expert. Hence, it has become one of the most trusted companies in the country. 

To help you decide whether you should buy NivaBupa’s plans, I have come up with this guide. We will explore the ongoing plans, their benefits, features, and hidden costs that you must know. 

All About Niva Bupa Health Insurance

Since its inception in 2008, Niva Bupa has operated as a standalone health insurance company in India. This means it emphasizes health insurance, unlike other general insurance providers. Currently, the company operates across more than 200 offices in India. As a standalone health insurance provider, NivaBupa is dedicated to health insurance. This means it has more innovative, feature-rich plans designed with a health-first approach. 

NivaBupa has been awarded several awards. Some of the recognitions include:

Key Features of Niva Bupa Health Insurance

When it comes to features, NivaBupa Health Insurance offers exceptional plans. Some of the key features include:

Claim Settlement Ratio

This is an important metric to decide whether the health insurance plan is worth considering. A claim settlement ratio is the number of claims settled by the insurance firm. For instance, if NivaBupa received 100 requests for claim settlement and they approved all of them. Therefore, Niva Bupa claim settlement ratio falls in the range of 90-100%. 

Solvency Ratio

Solvency ratios evaluate the ability of the company to pay its long-term obligations, such as debt and interest on that debt. It is one of the many financial metrics that may measure the company’s overall performance. The solvency ratio for this company is 2.12, which is good. 

Network Hospitals

Network hospitals are healthcare and nursing facilities affiliated with a ‘Third Party Administrator’. The network hospitals encourage cashless settlements since the third-party administrator pays them directly. NivaBupa has a wide network with more than 10,000 network hospitals. 

Annual Premium 

NivaBupa has an annual plan that costs Rs 1750 crores as per the IRDAI report 2021-2021. The annual premium means the total amount that the insured needs to pay annually. 

Different Plans Offered by Niva Bupa 

NivaBupa offers an array of insurance plans that are then categorised under three categories:

Why Choose Niva Bupa Insurance?

Health insurance is the best way to stay safe, and Niva Bupa health insurance company delivers a wide variety of plans. The main things to consider while choosing NivaBupa plans include:

Larger Coverage 

As it focuses on a single health plan, health insurance policies cover the entire family. Some insurance offers policies that give coverage for extended family members, too. Similarly, NivaBupa offers a heartbeat plan that covers up to 19 people in a single plan. 

Affordable Premiums

Health plans offered by the firm generally have pocket-friendly premiums. If you select the best health plan with sufficient benefits, you can be eligible for an affordable premium. 

Cashless Claim Processing 

When you buy a plan from NivaBupa, their in-house claim settlement team processes the cashless feature within just 30 minutes. The focus is on a hassle-free process. The company provides NivaBupa plans that serve all your medical needs. 

Wider Doctors Network

NivaBupa has a wider network of doctors that guarantees specialized treatment for everyone. This feature makes it a special one. These are the types of benefits you look forward to when purchasing health insurance. 

Specialized Health Insurer 

The organization entirely depends on providing health insurance to the customers. With a specific focus, it makes sure that the insured receives everything required to have a simple, hassle-free process at every step. 

What is Excluded from Niva Bupa Health Insurance?

There are certain things excluded from NivaBupa plans, including:

• Purchase of external products like eyeglasses, hearing aids, prosthetic limbs, artificial teeth, veneers, and crutches. 
• Self-inflicted harm is excluded from the health insurance plan 
• Cosmetic surgery, like plastic surgery or botox is prohibited
• Dental therapy is not covered under the plans 

Renowned Network Hospitals

• Aditya Birla Network Hospitals 
• Bajaj Allianz Network Hospital 
• Care Health Network Hospitals 
• Future Generali Network Hospitals 
• HDFC ERGO Network Hospitals
• Kotak Mahindra Network Hospitals
• Liberty General Network Hospitals 
• Manipal Cigna Network Hospitals
• Reliance Health Network Hospitals
• SBI General Network Hospitals

How to Buy Niva Bupa Health Insurance Plans?

It is very simple to buy health insurance, and the claim process is. 

Step 1: Go to the site and compare all the available options against your specific needs for premium, coverage type, and other criteria

Step 2: Once you shortlist some plans, you need to choose the best one for yourself 

Step 3: While applying for health insurance online, you need to enter your identity details and documentation. 

Step 4: Check the policy for exclusions and riders. Consider the key aspects like premium, the total covered, waiting time, and claim settlement method. 

Step 5: Once you have decided on your plan and the sum covered, you may pay using the available payment options on the website. 

Niva Bupa Renewal Process 

NivaBupa Health Insurance allows a simple and quick renew health insurance coverage. The insured can also connect to their teams for a renewal request, or they can follow the process discussed below:

• Go to the official site of NivaBupa 
• Click on the Renewal option
• Enter your current health insurance information, like policy number, date of birth, etc. 
• Click on the ‘Renew’ option
• Pay your health insurance premiums and renew your policies online

Health Insurance Claim Process

NivaBupa provides a great and easy claim process. The process can be broken down into:

Cashless claim process: Cashless claims are simple and easy. Even though the facility is unavailable at one of the network hospitals. If you have a claim, you can connect to their around-the-clock toll-free number- 1860- 500-8888. Users can also use the customer service page. 

Reimbursement process: The process is smooth and simple. Initially, you need to arrange your documents. The policy documents need to be original. Secondly, you need to login to the NivaBupa account and request the claim. Finally, you need to upload the documents and submit. Follow these steps to get your claim processed. 

Documents Required for Claim Processing

Some documents are required to process your claim smoothly. 

• Original filled and signed claim form
• Original IDs
• Referral letter and doctor’s prescription
• Original bills and receipts from the healthcare provider
• Original bills from the pharmacy or chemist 
• Original reports
• First information report
• Post mortem report (if required)
• Any other document as asked by the team 

Niva Bupa Contact Details

Niva Bupa Health Insurance has an around-the-clock customer care service to solve your problems. If you have further issues regarding the coverage, you can contact the customer care using the following details:

FAQs

Is Niva Bupa a good health insurance provider?

It is a leading company in the Indian insurance industry that offers the best insurance plans. 

Which is better- Star Health or NivaBupa?

NivaBupa often outperforms with strong benefits such as unlimited restoration and domiciliary coverage. 

What is the best health insurance in India?

There are several companies offering health insurance. You must choose based on your needs and the coverage required.