Niva Bupa Health Insurance Company Ltd. (previously Max Bupa Health Insurance Company Limited) is a joint venture between Fettle Tone LLP (a subsidiary of True North Fund VI LLP), a prominent Indian private equity company, and Bupa Singapore Holdings Pte. Limited, a UK-based healthcare services expert. Niva Bupa Health Insurance, as one of the most trusted standalone health insurance companies in the country, has curated a wide range of health insurance policies, such as individual health insurance, family floater insurance policy, and top-up insurance cover, based on an understanding of the Indian market and catering to the consumers' diverse needs.
Niva Bupa Health Insurance Company has been awarded many awards. So let us look at these recognitions:
- The Economic Times and Nielsen awarded the firm 'The Economic Times Best Brands 2019' in April 2019.
- Niva Bupa's GoActive Health Insurance Plan was named Product of the Year by Nielsen in April 2018.
- At the Celent Model Insurer Asia Awards 2016, Niva Bupa Health Insurance was recognised for 'IT Management Best Practices.'
- Niva Bupa received the Golden Peacock Award for their Heartbeat Health Insurance Plan in 2015.
- At the Indian Insurance Awards 2011, the company earned the Best Product Innovation Award for Heartbeat Family First.
Niva Bupa Health Insurance Company at a glance
Niva Bupa is a big insurance company that offers a lot. Here are the important specifications of the company:
| Particular | Specifications |
|---|---|
| Network Hospitals | 8600+ |
| Incurred Claim Ratio (2021-22) | 62.12 |
| Claim Settlement Ratio (less than three months) (2021-22) | 99.99 |
| Solvency Ratio (2021-22) | 1.70 |
| Market Share (2021-22) | 2,809.97 Crores |
*Data has been sourced from the annual report of IRDAI 2021-22
Important Features of Niva Bupa Health Insurance(Formerly Known as Max Bupa Health Insurance)
Regarding features, Niva Bupa Health Insurance company offers a lot. You can also derive great information from the above table showcasing good values. Now, let’s take a look at some of the important features of the company.
Claim Settlement Ratio
It is an important term that needs to be understood well. A claim settlement ratio is the number of claims settled by the insurance company. For example, if Niva Bupa received 100 applications for claim settlement and they approved 99 of them, then Niva Bupa claim settlement ratio would be 99%. So, the greater the ratio, the better the insurance company.
Solvency Ratio
Solvency ratios assess a company's capacity to pay its long-term responsibilities, such as debt and interest on that debt. It is one of the numerous financial measures that may gauge a company's overall health. Niva Bupa’s solvency ratio is 2.09, which is good.
Network Hospitals
Network Hospitals are hospitals and nursing facilities affiliated with a 'Third Party Administrator.' These network hospitals promote cashless claims since the TPA pays them directly. These network hospitals are also referred to as Network Hospitals. Niva Bupa has a network of 8600+ hospitals.
Annual Premium
Niva Bupa has an annual premium of 1,750 Cr, according to the IRDAI report 2020-21. The annual premium is a term that means the total amount paid annually.
Health Insurance Plans Offered By Niva Bupa Health Insurance
Niva Bupa Health Insurance offers various insurance products. So, let us look at all the plans that are categorised under three categories.
Individual and Family Health Insurance Plan
 |
Niva Bupa Reassure Health Plan |
Coverage Benefits
- Health Checkups from day 1
- Reassure Benefit
- AYUSH cover
Eligibility Criteria
Sum Insured: Upto 1 Crore
|
Niva Bupa Goactive Plan |
Coverage Benefits
- OPD Consultations
- Health Coach(Optional)
- Daycare Treatments
Eligibility Criteria
Sum Insured: Upto 25 lakhs
|
Niva Bupa Moneysaver Plan |
Coverage Benefits
- Pharmacy & diagnostic services
- All daycare treatment
- Re-fill benefit
Eligibility Criteria
Entry Age: 18 years to 65 Years
Sum Insured: 3 Lakhs to 25 Lakhs
|
Niva Bupa Premia Plan |
Coverage Benefits
- International Coverage
- Maternity & New-born coverage
- Inbuilt Travel insurance
Eligibility Criteria
Sum Insured: 1 Crore - 3 Crores
|
Niva Bupa Super Saver Plan |
Coverage Benefits
- Pre/Post Hospitalization
- No Room Rent Cap
- E- Consultation
Eligibility Criteria
Sum Insured: Upto 1 Crore
|
Niva Bupa Heartbeat Plan |
Coverage Benefits
- International Coverage
- OPD Consultants
- Loyalty Bonus
Eligibility Criteria
Sum Insured - 5 Lakhs - 50 Lakhs
Senior Citizen Health Insurance Plan
|
Niva Bupa Senior First Plan |
Coverage Benefits
- Day care treatments
- Pre/Post Hospitalization
- AYUSH treamtments
Eligibility Criteria
Sum Insured: 5 Lakhs - 10 Lakhs
Sum Insured: Upto 10 Lakhs
|
Niva Bupa Health Companion |
Coverage Benefits
- Annual Health Checkup
- No Room Rent Cap
- Pre/Post Hospitalization
Eligibility Criteria
Sum Insured: Upto 1 Crore
|
Niva Bupa Health Pulse |
Coverage Benefits
- No Cap on Room Rent
- Direct Claim Settlement
- Health Checkup
Eligibility Criteria
Sum Insured: Upto 25 Lakhs
Critical Illness Health Insurance Plan
|
Niva Bupa AccidentCare Plan |
Coverage Benefits
- Accidental Health
- Permanent Total Disability
- Child Education Benefit
Eligibility Criteria
Sum Insured: 5 Lakhs - 2 Crores
|
Niva Bupa Criticare Health Plan |
Coverage Benefits
- Accident Care
- Daily Cash Allowance
- Renewal For Life
Eligibility Criteria
Sum Insured: 3 Lakhs - 2 Crores
|
Niva Bupa Coronakavach Health Plan |
Coverage Benefits
- Niva Bupaal First Policy
- Homecare Treatment Expenses
- Hopitalization Expenses
Eligibility Criteria
Sum Insured: 50,000 - 5 Laksh
|
Niva Bupa Saral Suraksha Bima Plan |
Coverage Benefits
- Temporary Total Disablement
- Hospitalization due to Accident
- Cumulative Bonus
Eligibility Criteria
Sum Insured - 2.5 Lakhs - 1 crore
Why Choose Niva Bupa Health Insurance (Previously Known as Max Bupa Health Insurance)?
Health insurance is the purest way to stay secure, and Niva Bupa Health Insurance company offers a wide array of products as mentioned above. Let us glance at some of the features that this insurance company offers and reasons to select Niva Bupa.
Larger Coverage
Within the framework of a single health plan, health insurance policies cover the complete family. Some insurance companies now provide policies that include coverage for extended family members. Niva Bupa's heartbeat plan, for example, may cover up to 19 individuals in a single plan.
Affordable Premiums
Health plans offered by the company have generally affordable premiums. If you choose the best health plan with adequate benefits, you will be eligible to have an affordable premium.
Cashless Claim Processing in 30 mins
When you choose Niva Bupa, their in-house claim settlement team processes the cashless claim in 30 mins, making it a hassle-free process. The company offers Niva Bupaal solutions that cater to your medical needs.
2000+ Doctors Network
Niva Bupa comes with a good range of doctors network that ensures you get specialized treatment, which is really great. These are the kind of benefits you look forward to while buying health insurance.
Specialized Health Insurer
The company sole focus is to provide health insurance to its consumers. With ultimate focus, the company ensures that the insured get each and everything that it needs to have a simple, hassle-free process at any stage.
Niva Bupa Health Insurance Exclusions
Here is the list of points that are not covered under Niva Bupa Health Insurance:
- Purchase of external items such as eyeglasses, hearing aids, prosthetic limbs, crutches, artificial teeth, and veneers is prohibited.
- Self-inflicted harm is not covered by a health insurance coverage.
- Cosmetic surgery, such as plastic surgery or botox, is not permitted. Surgery for burns or unintentional body damage, as well as cancer therapy, are exceptions.
- Dental therapy (unless it is related to cancer or an emergency trauma).
Network Hospitals
Niva Bupa Health Insurance Buying Process
Niva Bupa Health Insurance has a simple buying as well as claim process. Let us first understand the procedure to buy Niva Bupa Health Insurance online.
Buy from "RenewBuy.com"
- Visit the official website of "RenewBuy".
- Click on the "Health Insurance Plan" tab.
- Choose the desired health insurance policy.
- Fill in all the required details.
- Click on the "Buy Now" button.
- Proceed with the payment.
Buy From the Official Website
- Browse and compare all available alternatives on several comparison websites according on your specific preferences for premium, coverage type, and other pertinent criteria.
- After shortlisting the plans, you need to select the best health insurance plan for yourself.
- When applying for health insurance online, you will be required to give identification information as well as documentation. This is an important step to be followed with great care.
- Examine the policy for exclusions and riders. Take note of the crucial aspects, such as the premium, the total covered, the waiting time, the claim settlement method, and so forth.
- Once you've decided on your plan and the sum covered, you may pay using one of the various payment channels available at the website.
Why Buy Niva Bupa Health Policies From RenewBuy?
RenewBuy offers the top Niva Bupa Health Insurance plans available on the market. The following are the main reasons why you should consider us:
- IRDAI Certified
- Get Insured by leading insurers
- Lower Premiums
- Compare Various Health Policies online
- Simple & Easy Buying Process
- 24x7 Claim Assistance
Niva Bupa Health Insurance Renewal Process
Niva Bupa Health Insurance makes it simple and quick to renew health insurance coverage. Insured can also contact our POSP advisors for Niva Bupa health insurance renewal, or they can follow the procedures outlined below to renew Niva Bupa health insurance coverage.
- Visit the official website of "Niva Bupa Health Insurance".
- Click on the “Renewal” tab.
- Enter your current health insurance information, such as policy number, date of birth, and so on.
- Click on the ‘Renew' tab.
- Pay your health insurance premiums and renew your Niva Bupa policies online.
Niva Bupa Health Insurance Claim Process
Niva Bupa offers a nice and easy claim process. We have breakdown the process for you.
Cashless Claim Process: Cashless claims are both simple and convenient. Although, cashless facility is only available at one of the network hospitals. If you have a claim, please contact the 24-hour toll-free number 1860-500-8888 or email at customercare@nivabupa.com.
Reimbursement Process: The process is simple and hassle-free. The first step is to get your documents in order. The policy documents should be original. The second step is to login to the Niva Bupa account and enter the claim request. In the final step, just upload the documents and submit. Following the steps will ensure that your claim is processed.
Documents Required for the Claim
Certain documentation are required to guarantee that your claim procedure goes well. So, let us look at the documents:
- Original filled and signed claim form
- Original ID Proofs
- Referral letter and prescription of the Doctor
- Original bills and receipts from the hospital or medical practitioner
- Original bills from pharmacy or chemists
- Original Reports
- First Information Report (FIR)
- Post mortem report, if needed
- Any other document as required by the Niva Bupa health insurance company to assess the claim
Niva Bupa Health Insurance Contact Details
Niva Bupa Health Insurance has 24/7 customer care service to resolve your queries. If you have any issues about Niva Bupa Health Insurance coverage, please contact the Niva Bupa health insurance customer care using the following information:
Address: Niva Bupa Health Insurance Company Limited, 14th Floor, Capital CyberScape, Sector 59, Gurugram, Haryana
Phone: 1860-500-8888
Email Address: customercare@nivabupa.com
