Niva Bupa’s new ReAssure 3.0 health insurance plan eliminates this dilemma with a policy that offers unlimited cover. You simply pick one of four variants based on room type, and no matter which you choose, your cover will not run out when you are in the hospital – barring a few exceptions.
How it works
There are four variants of ReAssure 3.0– Classic (general ward), Select (twin-sharing room), Elite (all rooms except deluxe/suite), and Black (any room). Each variant, except Black, has a limit on the room rent.
Typically, health plans without room rent limits are better because although plans with limits are cheaper, the policyholder can end up paying a large share of the bill. If a policy caps room rent at ₹5,000 but the patient is admitted to a ₹10,000 room, the policyholder has to pay the ₹5,000 difference.
On top of that, costs such as nursing charges, doctor visits, surgeon fees and operation theatre charges are linked to the room category, so deductions can climb to 45-50% of the bill. This is what has to be paid from the patient’s pocket.
ReAssure 3.0 keeps the room type centerstage. As long as the policyholder is admitted to the room type the plan variant allows, the patient gets unlimited cover (with a few sub-limits in the basic variants). Upgrading to a higher room category means the patient will have to bear the extra cost. Downgrading the room type will have no impact.
The upside? Stick to the eligible room type and patients won’t have to worry about skyrocketing hospital bills—except for a few caps in the lower variants.
All four variants offer Live Healthy benefit – policyholders can avail of a discount of up to 30% on renewal premium if they maintain a certain number of steps every day or other healthy habits as defined in the policy document.
Among other benefits, second medical opinion within the insurer’s network, e-consultation (cashless), a surprise benefit (available in Niva Bupa app), expenses before and after hospitalisation (covered up to 60 days and 180 days, respectively) are available in all four variants with no upper cap.
Understand limitations
ReAssure 3.0’s Elite and Black plans have no sub-limits for modern treatments such as robotic surgeries, stem cell therapy, immunotherapy and oral chemo, which are becoming common but costly. The Classic and Select variants cap these treatments at ₹1 lakh per claim.
Ambulance benefits vary: road ambulance is capped at ₹2,000 in Classic/Select but unlimited in Elite/Black. Air ambulance isn’t covered in the lower variants and is capped at ₹5 lakh in Elite/Black.
“The real ‘no-restriction’ version is Black (and mostly Elite). Classic/Select are cheaper but carry hidden limits,” said Mayank Gosar, a chartered accountant and a wealth manager with a strong focus on insurance.
The “lock the clock” benefit – which freezes premiums at entry age until a claim is made – is only available in Elite/Black. The renewal premium is revised after a claim is made.
“If a customer buys a five-year policy and makes a claim in the third year, premiums for the remaining two years will be recalculated as per their current age and prevailing rates. This wasn’t the case in ReAssure 2.0, where premiums stayed fixed for the full term,” said Neeraj Khushalani, founder of InsureSmart. “The additional premium will either get deducted from the claims payout or an extra cost be levied on renewal.”
Optional benefits
If you are unable to afford the premium, you can opt for a co-payment of 20% to 50%. With co-payment, you pay the chosen percentage of the bill yourself. The rest will be paid by the insurer.
Co-payment of expensive medical bills can be counterproductive. A better option to reduce premium is via deductibles. The product offers it in the range of ₹10,000 to ₹5 lakh. Choose the limit as per your wish. Every time a claim comes, you will have to pay the chosen deductible yourself before the policy kicks in.
“A deductible of ₹50,000 can offer a premium discount of 25% in this plan. The higher the deductible, the bigger the discount,” said Gosar.
There are some add-ons that require an extra amount to be paid. One can modify the waiting period for pre-existing diseases and special illnesses by paying an additional premium. If consumables are to be covered, a safeguard+ add-on can be bought.
Global coverage is available as an optional benefit in the top three variants with different limits and co-payment options. Black limits it to ₹5 crore, Elite to ₹50 lakh and Select to ₹10 lakh. A co-payment option from 20% to 50% can be chosen to reduce the cost of add-ons.
A unique add-on feature that ReAssure 3.0 offers is Cash bag+. Accumulate cashback on every claim-free year and use it to pay premiums, OPD bills, deductibles and co-payments.
WellConsult+ is an add-on that offers OPD coverage of up to 5x the premium paid. This includes expenses related to doctor consultations, diagnostics, pharmacy bills, dental and mental health sessions, and gym memberships.
“This product is designed to be the most comprehensive health cover in India. We believe this is the last possible innovation on the theme of sum insured, and a true leap forward in making healthcare worry-free,” said Dr. Bhabatosh Mishra, director and chief operating officer of Niva Bupa.
Should you buy this plan?
The plan is innovative and shields policyholders from medical inflation. However, experts warn that products often get launched with fanfare only for insurers to withdraw them later, forcing policyholders to migrate to other plans.
“If ReAssure 3.0 evolves or is discontinued, will customers shift to fixed-sum insured plans? And for those with prior claims or illnesses, will unlimited cover continue or get capped?” asks Khushalani.
Mishra told Mint that Niva Bupa has never rolled back any product in its history.
Another concern: unlimited cover may make buyers skip super top-ups, Khushalani said.
“But if one later exits Niva Bupa, age or health issues could block access to a top-up elsewhere, effectively binding customers to the insurer,” he added.
Keep these caveats in mind before buying the policy.
For context, a 30-year-old opting for the top Black variant pays ₹16,094 (including consumables add-on). The top Titanium+ plan under ReAssure 2.0, with a ₹10 lakh base sum insured costs ₹13,445 — only about ₹2,500 less, said Gosar.
The coverage in this plan increases by 100% every year up to 1,000%. It will cost ₹29,648 if the base sum insured is ₹1 crore, according to Gosar.
About the Author
