Niva Bupa Health Insurance Introduces "Aspire", A Product For Young India

The plan provides coverage for medical treatment outside India, offering options with and without co-payment. It gives options to choose co-payment limit and receive treatment abroad for emergencies or planned inpatient procedures.
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Niva Bupa,
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Young Indian
buying health insurance, Niva Bupa, Medical Treatment, Young Indian

Niva Bupa Health Insurance Company, formerly known as Max Bupa Health Insurance Company, a health insurer in India, has launched a new plan called Aspire, targeting Gen Z and millennials, according to a press release issued by the company on Tuesday. The company claims that it is tailored to meet the distinctive needs of this demographic.

According to the fifth edition of the National Family Health Survey (NFHS-5), covering the period from 2019-2021, only 30 per cent of women aged 15-49 and 33 per cent of men in that age group were covered by health insurance or a health scheme.

Despite various initiatives by the government and private insurers to enhance health coverage, the 'Young Indians' segment, comprising Gen Z and millennials, still lacks substantial health insurance coverage. These individuals prioritize their health but often delay purchasing health insurance when they are young and less prone to hospitalization.

The release added that apart from benefits like Lock the Clock and Booster+, Aspire also includes a comprehensive parenthood benefit called M-iracle, covering all maternity-related expenses, including IVF treatment, surrogacy, and more.

The coverage under M-iracle includes antenatal check-ups, gynecologist consultations, vaccines for expecting mothers, delivery charges (normal or cesarean section), and adoption charges. “The maternity sum insured grows annually based on the base sum insured plan, accumulating up to 10X with the unused sum insured carried forward as per the Booster+ benefit,” the company said.

Other benefits claimed include protection to the future spouse, combined total base sum insured for multi-year policies to be available in the first year, and accumulation of cashback on every claim-free renewal which can be used for renewal premiums, deductibles, co-payments, or outpatient department (OPD) expenses.

The plan also covers treatment outside India, with and without co-payment options. It has a minimum waiting period of nine months and provides coverage for newborns from day one to post-maternity.

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