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Niva Bupa Senior First (Platinum)

Introduction to Niva Bupa Senior First (Platinum)

Niva Bupa Senior First (Platinum) is a health insurance policy offered by Niva Bupa Health Insurance Company Limited. A health insurance plan serves as a safeguard against unexpected medical expenses, which can be a significant financial burden. It ensures that you receive the required medical care without having to worry about the costs associated with it. Geared towards meeting the specific medical needs of senior citizens, Niva Bupa's Senior First (Platinum) Plan is a robust and comprehensive health insurance policy. It has several distinct benefits and features that make it a popular choice.


 

Verdict: Niva Bupa Senior First (Platinum)

This plan is exclusively tailored for senior citizens. In addition to covering hospitalization and related expenses, it covers several other expenses including the cost of consumable items like gloves, oxygen masks, etc. It also offers coverage for health check-ups from the very first day. Moreover, the plan provides the option to automatically increase the sum insured based on the previous year's inflation. On the flip side, however, this plan does not offer the monthly premium payment option. Additionally, based on our research, the insurer has received a higher number of claim settlement and policy purchase complaints. This implies that the insurer has a poor track record with respect to both purchase and claims service.

Pros & Cons: Niva Bupa Senior First (Platinum)

  • arrow No sub-limits for common treatments like cataract etc.
  • arrow Covers health check-up expenses from day 1
  • arrow Option to automatically increase the cover amount based on previous year's inflation
  • arrow Covers non-medical expenses or the cost of consumables such as gloves, oxygen masks, nebulization kits, etc.
  • arrow Expensive than other products in the market
  • arrow Limitations on the type of hospital room you choose
  • arrow Monthly premium payment mode not available
  • arrow Received higher number of complaints during policy purchase compared to other insurers
  • arrow Received higher number of complaints on claim settlement compared to other insurers
  • arrow Our study observed their responses on Twitter to be average in comparison to other insurers

Specific Exclusions: Niva Bupa Senior First (Platinum)

01 Circumcision unless necessary for treating a disease or injury
02 Injury or illness directly or indirectly due to terrorism, nuclear emissions, war, civil war
03 Expenses for screening, consulting or treatment related to external birth defects
04 Dental treatment except for treatment required due to an accident
+ Show 6 more


About Niva Bupa Health Insurance Company Limited

Niva Bupa Health Insurance Company Limited logo

Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) is a joint venture between Fettle Tone LLP and Bupa Singapore Holdings Pte. Limited. This standalone health insurance company provides a wide range of health insurance products that cater to the needs of its customers, such as individual health plans, family floaters, top-up policies, etc.  It was founded in 2008 and is headquartered in New Delhi, India. Mr. Ashish Mehrotra is the company's CEO and MD.

Founded in
2008
JV Partners
Fettle Tone LLP and Bupa Singapore Holdings Pte. Limited
Turnover (GWP)
1025.99 Crores
Number of Policies
61,36,225
Number of Claims
1,53,167

Detailed Product Specs: Niva Bupa Senior First (Platinum)

Claims Experience advisor
Customer Service advisor
Product Benefits (10L Sum Insured) advisor
Limits and Exclusions advisor
% of claims settled in less than 30 days
Reflects on the speed of settling valid claims
99.95%
% of Complaints received on overall claims
% customers unhappy with claims experience
0.49%
Claims Incurred Ratio
65.44%
Claim Settlement Ratio (No. of claims)
What % of the claims received were paid?
85.18%
No. of Cashless Hospitals
10,000+

Notes
  1. The health insurance data was last updated in June 2023. All data has been sourced from product brochures, policy wordings, prospectus, public disclosures (Q1, FY 2023-2024), IRDAI annual report (2021-22), insurer websites, and the IRDAI website. 
  2. For now, we have considered the most comprehensive plans from leading insurance companies. We will keep updating the product pages with new plans in the coming days.
  3. We have rated only those plans that can be serviced by individual advisors. This is because of our strong belief that health insurance customers need professional assistance from individual advisors before and after purchase. We do not recommend and hence do not rate direct-to-customer health insurance plans or plans where there aren't enough advisors available to service. 
  4. Affordability assessment of plans: 
    • The affordability of comprehensive plans is assessed using premiums for a family of two adults (30 years old) and one child (1 year old) residing in Zone 1 opting for a cover of ₹10 Lakhs. And, the premiums are as of 31st June 2023.
    • The affordability of Care Freedom Plan is assessed using premiums for a 30-year-old male residing in Zone 1 opting for a cover of ₹5 Lakhs. And, the premiums are as of 31st June 2023.
  5. The product benefits section is based on a sum insured of ₹10 Lakhs and only highlights the top benefits and features of health insurance plans. 
  6. Only those hidden and special conditions that apply to the benefits and features we have considered are included in the product pages. 
  7. The product pages only include the most significant specific exclusions under each plan.
  8. The product pages do not include any generic terms, conditions, or exclusions (those that are the same and apply to all health insurance plans).
  9. If the policy wording, brochure, or prospectus state that a benefit/feature is available with a specific plan but it is not available online when generating the premium quote, we have not considered that benefit/feature to be available with the plan.
  10. The response time on Twitter (Beta) was calculated using a sample set of tweets from April, May, and June 2022 (analyzed in August, September, and October 2022). 
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