Health insurance is crucial because it offers peace of mind and financial stability in the event of unforeseen medical costs. Let’s examine its importance using this illustration:
Think about Sarah, a young professional who pays close attention to her health. She is suddenly faced with an unanticipated medical problem that necessitates lengthy hospital stays. If Sarah didn’t have health insurance, the cost might be too much to bear and she would have to borrow money or use all of her savings to pay for the bills.
Now imagine that Sarah is covered by health insurance. Her medical costs are largely covered by the policy, therefore she is not put in financial hardship. Having health insurance protects one’s financial stability while guaranteeing access to high-quality medical care. It serves as a safety net, providing prompt and sufficient medical attention when it’s most required.
But with Star Health Insurance and Niva Bupa Health Insurance gaining popularity on the market, choosing the right one may seem like a real headache. Let’s dig deep into the sheer comparison between both health insurance in detail!
Comparative Analysis of Niva Bupa Health Insurance vs Star Health Insurance
Here is the complete difference between Star Health Insurance and Niva Bupa Health Insurance.
| Parameters | Star Health Insurance | Niva Bupa Health Insurance |
| Network Hospitals across India | 14000+ | 10,000+ |
| Cashless Claim Processing | Cashless claim settlements are made in just 2 hours. | In less than 30 minutes |
| Customer base | 17 Crore Lives covered since inception | Over 70 lakh individuals |
| Incurred Claims Ratio | 87.06% | 62.12% (2021-22) |
| Claim Settlement Amount | 4 Crore + Rupees claims settled every hour | 1,141 crores since inception |
| Critical Illness Covered | Yes | Yes |
| Tax Benefits | Covered | Covered up to ₹54600 |
| Digital Platform | “Star Health App” “Virtual Assistant- Twinkle” | “Niva Bupa Health” |
| Claim Settlement Ratio | 99.06% (2021-22) | 99.99% (2021-22) |
| In-house Claim Settlement | On all 365 days by Qualified Doctors | 24*7 Round-the-Clock Assistance |
| No. of Plans | 20+ | 8+ |
| Annual Health Check-ups | Available | Available |
| Sum Insured (INR) | Up to 2 crores | Up to 1 cr. |
| Pre and Post Hospitalisation Expenses | Covered | Covered |
| Ambulance Expenses | Covered | Covered |
Note: The ICR and CSR ratios are taken from the latest IRDAI Report.
What is Star Health Insurance?
Star Health Insurance was founded in 2006 and has expanded rapidly to rank among India’s biggest suppliers of health insurance. To meet the various needs of people and families, Star Health Insurance provides a wide variety of health insurance plans. Among their product offerings are maternity health insurance, critical illness insurance, personal accident insurance, senior citizen health insurance, individual health insurance, and family health insurance.
In India, Star Health Insurance has more than 14,000 accredited facilities in its extensive network. These network hospitals offer cashless hospitalization services to insured people; medical costs are paid directly to the insurance company by the hospital, subject to the terms and conditions of the policy.
What are Star Health Insurance's principal features and benefits?
Listed below are the salient features and benefits of Star Health Insurance.
- No Third-Party Administration (TPA)
Only when a claim is resolved on schedule can it receive justice. Numerous insurance firms frequently use TPA services and receive compensation for handling claims. To help process claims more quickly and pay them in the lowest amount of time during the most critical hours, Star Health Insurance relies on its internal claim team rather than the TPA.
- A high-quality free telemedicine facility for all
Since health is a universal right, we support access for all people, not only clients. Therefore, their free telemedicine services are available to everyone. An application specifically made for this purpose is called Talk to Star App.
- In-patient Hospitalisation
When you are admitted to the hospital as an inpatient, Star Health Insurance plans pay for everything from room and board to anesthesia, ICU, operating room, physician, and nursing bills. In their hospital network, there are cashless treatment options available all over India.
- Delivery and New-Born
Star health insurance plans guarantee coverage for costs associated with normal delivery, cesarean sections, and pre and post-natal care. Under these policies, the newborn baby is covered for treatments, vaccinations, and problems from day one until the policy expires without paying any additional premiums up to the stipulated limitations if the birth is paid for and takes place amid the policy period.
- Out-patient Dental and Ophthalmic treatment
Their specialized health insurance plans pay for things like the insured person’s medical visit to a clinic, consultation costs, and additional services like wound care, injections, etc. In the same vein, it can pay for costs associated with prescription drugs, laboratory diagnostic tests (such as X-rays, blood tests, etc.), and minor procedures that don’t require hospital admission. You can obtain dental and ophthalmic procedures as an outpatient under your family mediclaim insurance, subject to a waiting time and up to the stipulated maximum.
- Organ donor expenses
Organize your organ donation costs with the help of Star Health’s numerous policies. Their family health insurance policies can pay for surgery and organ harvesting costs up to the amount indicated in the policy provisions when the insured needs an organ transplant.
- AYUSH treatments
The following treatments are covered by Star’s health insurance plans for in-patient hospitalization of your family members, provided that the treatments are received in government hospitals and/or government-recognized institutions that have been accredited by the National Accreditation Board on Health and the Quality Council of India.
- Discounts
Taking advantage of discounts when purchasing health insurance online can be a savvy financial move. Star Health Insurance policies offer a 5% discount for first-time online buyers, which could be a significant incentive. Online platforms often streamline the purchasing process, making it convenient and efficient.
- Tax Benefit
Premiums paid for health insurance plans, including those from Star Health Insurance, are eligible for tax deductions under Section 80D of the Income Tax Act, 1961 in India. Section 80D provides deductions for premiums paid on health insurance policies for oneself, spouse, children, and parents.
- Additional Benefit of Free Health Checkups
Regular health check-ups contribute to preventive healthcare by enabling early detection of potential health issues, allowing individuals to take proactive measures for improvement. The benefit of free health examinations is available to covered members of all Star Health insurance plans. This benefit aids people in monitoring their health and making necessary improvements.
- Quick and Easy Claim Settlement Procedure
The entire claim settlement process is rather simple to follow, and if you have any questions about a claim, you can always get in touch with Star Health Insurance’s well-trained executives, and they will walk you through it. A significant component of the benefits list of the Star Health Insurance plan, the effective claim settlement process has assisted Star Health Insurance in maintaining a high claim settlement ratio (CSR).
- Star Wellness Program
The goal of the wellness program is to assist policyholders in starting, enhancing, and continuing an active, healthful lifestyle. To maintain excellent health, the insured person can utilize the Star Wellness Program provided by the majority of our plans.
The insurer encourages an active lifestyle for you and your family through this program. As a result, our plans provide premium renewal savings in exchange for the wellness points obtained through Star Wellness Program participation.
Understanding Niva Bupa Health Insurance
Founded in 2008, Niva Bupa Health Insurance Company Limited (formerly named Max Bupa Health Insurance) is an independent health insurance provider. A vast network of network hospitals providing cashless treatment is maintained by Niva Bupa Health Insurance Company Limited, along with a multitude of agents. The insurer says that cashless claims can be resolved in 30 minutes or less. The organization has combined its wide range of expertise in the fields of insurance and healthcare. Family, individual, and senior citizen health insurance policies are among the many clientele it serves, with rates for customized plans as low as Rs. 20 per day.
What Sets Niva Bupa Health Insurance Apart?
Listed below are the key features and benefits of Niva Bupa Health Insurance.
- Painless Health Insurance Claim Settlement
The insured can expedite and simplify the claim settlement procedure with Niva Bupa Health Insurance. It features a doorstep link for diagnostics and pharmacy, a cashless hospital network, and prompt and easy medical consultations. Benefits including direct claim settlement, 30-minute cashless claim processing, and personal contact points are provided by the insurer when processing cashless claims. Benefits related to reimbursement claims include direct reimbursement payment and an open reimbursement disbursal process.
- Wide Network of Hospitals
With the extensive network of more than 10,000 hospitals provided by Niva Bupa Health Insurance, covered patients can easily receive cashless treatments. You can receive either emergency hospitalization or planned hospitalization at these hospitals. All you have to do is notify the insurance provider ahead of time within the allotted period, and you can receive benefits following the terms and conditions of your policy.
- High Claim Settlement Ratio
A health insurance policy is only beneficial if it provides rewards in the event of a claim. The Claim Settlement Ratio of Niva Bupa Health Insurance is a respectable 99.99% (2021–22). This demonstrates how adept the insurance provider is at managing policyholder claims.
- Awards And Accolades
Niva Bupa Health Insurance has received several honors, including the “Technology Maturity” award, the “Economic Times Best Brands 2019” award, the “Super Brand 2019” award, and others. This demonstrates that the insurer’s rise to prominence has been well-founded.
- Health App
With the help of the Niva Bupa Health Insurance Health App, policyholders can schedule out-of-office (OPD) visits with physicians or at a pathology lab for diagnostic testing, participate in e-consultations, obtain prescription drugs at home, and have simple access to health insurance plans. With more than 1.5 lakh downloads, the app won the Best Tech for Health Category 2019 award.
- Tax Benefits
The tax advantages that health insurance policies by Niva Bupa offer are an additional benefit. You may deduct the cost of your health insurance plan premium under section 80D of the Income Tax Act. Plans for individual and family health insurance are eligible for this deduction. Furthermore, you may be eligible for an additional discount on the premiums you pay for your health insurance plan if you are a senior citizen.
- Pre- and Post-Hospitalisation Benefits
You also have the right to payment for medical treatments, laboratory testing, consultation fees, and other expenses associated with your stay in the hospital. Generally, a Niva Bupa health insurance policy will cover up to 30 days of pre-hospitalization charges and up to 60 days of post-hospitalization costs.
Know the Premium Calculation of Star Health Insurance & Niva Bupa Health Insurance
Consider a 30-year-old male, named Mr. Akash opting for a one-year health insurance policy. Now, he is confused between Star Health Insurance and Niva Bupa Health Insurance. However, he wants to buy a policy with health insurance coverage of Rs. 10 Lakhs. To give an in-depth understanding of both plans, let’s discuss the premium calculation that Mr. Akash has to pay for different health insurance plans with similar parameters.
Star Health Insurance:
Here is the quick premium that Mr. Akash has to pay if he considers Star Health Insurance.
| Gender | Age | Policy Term | Health Insurance Cover | Premium Amount |
| Male | 30 Years | 1 Year | Rs. 10 Lakhs | Rs. 11,476 (Including Tax) |
Niva Bupa Health Insurance:
Let’s take a look at the premium amount that he has to pay if he considers Niva Bupa Health Insurance.
| Gender | City of Residence | Age | Policy Term | Insurance Cover | Price (including GST) |
| Male | New Delhi | 30 Years | 1 Year | Rs. 10 Lakhs | ₹ 11,409 |
What to Choose: Star Health Insurance or Niva Bupa Health Insurance?
The decision between Niva Bupa Health Insurance and Star Health Insurance is based on several variables, such as your preferences, budget, and particular healthcare needs. Each insurer has advantages, therefore it’s important to assess them according to your specific needs. Check for evaluations and comments from clients about policyholders’ interactions with both insurers. This can reveal information about the level of response and service quality. If you want health insurance with better customer support and a higher sum insured, then Star Health Insurance is an ideal choice. On the other hand, if you want a faster claim settlement process, then Niva Bupa health insurance is the way to go.
