Niva Bupa rolls out ReAssure 2.0, a new comprehensive plan

Niva Bupa Health Insurance Company (formerly Max Bupa Health Insurance), a standalone health insurer, has announced the launch of ‘ReAssure 2.0’ with many industry first features.

Bettering on its 3 powerful benefits – ReAssure, Booster and Safeguard — offered under current ReAssure plan, ReAssure 2.0 provides a ‘+’ variant of these benefits to offer unmatched benefits. 

New plan

The new indemnity plan offers lock in of entry age until you (customer) make your first claim thereby helping customers save on premium. In this revolutionary benefit, the age at which the consumer enters the policy gets locked, until the customer makes his first claim in the policy.

Hence, the customer gets to pay the applicable premium as per the entry age, till the first claim comes. After which the regular age band wise premiums will be paid.

ReAssure 2.0 also provides ReAssure Forever, where the base sum insured will be triggered after the first claim and once triggered, it will remain forever. This means that the customer will always have a sum-insured equal to his base sum insured available to him after the customer has made his first claim, that too unlimited times in a policy.

Under Booster+ benefit, if a policyholder purchases a health insurance policy of ₹10 lakh, and doesn’t make any claim in that year, then the entire ₹10 lakh sum insured will be carried forward to the next year and he/she can avail claim for up to ₹20 lakh. This goes on and at the time of 10th renewal if no claim was made, then the sum insured will reach ₹ 1.10 crore (₹ 10 lakh as base + ₹ 1 crore as Booster + accumulated sum insured)

Read also: Niva Bupa and IDFC FIRST Bank partner for Bancassurance

‘Unique design’

Commenting on the launch of ReAssure 2.0, Krishnan Ramachandran, MD and CEO, Niva Bupa Health Insurance said, “At Niva Bupa, it is our endeavour to keep innovating to stay ahead of the curve and we are proud to launch ReAssure 2.0, a comprehensive plan with the potential to revolutionise the health insurance sector. With this product, we have addressed the prevailing concerns of customers which act as a hindrance during health insurance purchase. We have designed this product in a unique way that will encourage customers to start investing for their health and financial security at an early age.

Bhabatosh Mishra, Director — Underwriting, Products and Claims, Niva Bupa Health Insurance said, “ReAssure 2.0 has been designed to take the propositions of our most popular product yet, ReAssure several notches higher. It will fulfil the needs and demands of today’s audience who want return on every investment. The product will provide guaranteed return as sum insured on every premium paid, so that customer does not lose what he does not use. This product offers a win-win situation for customer, both in case of making a claim as it triggers ReAssure+ benefit “forever”, and in case of not making any claim, the customer continues to pay the premium of the age at which he purchases the policy.”

The product is available as an individual, multi-individual and family floater starting from ₹5 lakh to₹1 crore for the age bracket of 18 years to 65 years.

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