Thread by @NIKHILLJHA

Insurance Analyser Series-Episode 1

Niva Bupa Reassure 2.0

Premium doesn't rise in a Health insurance policy?🤯

This policy has a unique feature of not increasing the premium until u make the first claim

A thread🧵 analyzing the features of Niva Bupa Reassure 2.0

Lets go👇

Niva Bupa launched Re-Assure in October 2020

They have now come up with some new features under the brand Niva Bupa Reassure 2.0

Lets find out the features of the policy👇

Niva Bupa Reassure comes in 3 Variants
🏥Bronze+
🏥Titanium+
🏥Platinum+

Bronze is the base version and the cheapest policy.

Titanium and Platinum plans come with Lock the clock feature.

1. Lock the Clock:-

🧪Insurance premiums rise thru out life in bracket of 5 years
🧪Premiums also rise in case the insurer takes a premium hike

The ‘Lock the Clock’ feature under the ReAssure benefit allows the insured to pay the premium as per the entry age unless a claim is made by locking the age at which the policy was bought.

Therefore the premiums will be locked and not rise until u make the first claim.

E.g.
If u buy the policy at 25 years, u will keep paying the premium applicable for a 25 year old at each renewal, till a claim is paid in the policy.

Post the claim is paid, the premium charged will be as per your current age & will continue to change as per the age slabs.

2. No Room Rent Limit:-

The Niva Bupa ReAssure 2.0 plan does not come with any room rent limit for in-patient hospitalization or ICU admission.

🏥60 days before hospitalisation
🏥180 days post hospitalisation is covered

3. No Co-Pay

The policy does not have any co-pay.

If you add the safegaurd rider it covers the cost of non-payable items, protects the sum insured from inflation and safeguards the booster+ benefit from the impact of a claim.

4.Pre-Existing Diseases

Waiting period can be for 3 years.

However on payment of extra premium waiting period for diseases like diabeties and hypertension can be waived and can be covered from Day 1

5. Booster Benefit

Unutilized Base Sum Insured carries forward. Maximum it will accumulate up to 3/5/10 times (based on the plan you have chosen) of the Base Sum Insured.

For eg:-

If you have chosen Base Sum Insured of INR 10 lakh and Titanium+ Variant, then at the end of 10 years (if you have made no claims in these years) you will have 1.10 Crore Sum Insured (that is 10 Lakh base + 1 Crore Booster+).

5. Some Permanent exclusions👇

6.Upto 30% discount on the renewal premium on the basis of step count

7. Optional Benefits like

🏥Hospital Cash
🏥Safegaurd
🏥Safegaurd+ Benefits help u insure again non payable items and consumables

8. No Maternity Benefits

f you’re hospitalized during childbirth, then you may have to incur significant costs during delivery of your newborn, child care and other related matters during the course of the hospitalization.

Niva Bupa Reassure will not cover this cost

10. Premium

For a 10 Lakhs claim
For a 30 year old:-
The premium is Rs10,294 for the base Niva Reassure 2.0

The premium increase as u opt for top versions
But as features keep increasing the quality of the policy inceases.

Conclusion:-
🏥Reassure is a good product from Niva Bupa
🏥Lock the clock feature is an excellent feature
🏥Safegard feature is yet another good product
🏥Hospital coverage for Niva Bupa needs to increase with time.

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