Kuvera.in launches health insurance as their latest offering on its portal. They are an online investment portal. The users now can buy comprehensive health insurance coverage that would be 35% lower on an average than any company retail policy. The product is still in a test mode on the company’s official website and is available on a standalone based for limited customers in its first phase. By October 1, the health insurance will be available to all the users. Bharati Axa is the provider of the health plan launched by Kuvera. Users can have either a cover for the family or a standalone individual cover in multiple combinations to ensure a comprehensive family-oriented health cover.
Kuvera is the master policyholder and Bharati Axa is the underwriter (insurer) under the group policy structure followed by Kuvera Health Protect. They follow the same structure as that of employer-provided health insurance where the group comprises of Kuvera users. Here the difference is that Kuvera Health protect continues to provide you coverage as long as you choose to stay registered for the program unlike the employer-provided group health, where, the cover ceases when you change jobs.
Kuvera Health Protect comprises of three elements. Kuvera user has the liberty to add one or two elements depending on his/her need. For example, if a user is interested in opting for only the ‘Daily cash allowance’ benefit, the user is free to add it. Buying a base cover is not compulsory. Similarly, a user may choose only top-up. Another possibility would be a user may also go for a comprehensive plan depending on his/her need.
The three elements of Kuvera Health Protect are:
- Group Health Assurance: Cashless protection in case of medical emergencies is provided by this base cover.
- Super Top Up: This is an add-on cover that kicks in after the base cover limit is exceeded.
- Daily Cash Allowance: This is an add-on fixed benefit solution. It provides the user with a daily cash allowance for each day of hospitalization.
Compared to any other health insurance policy, Kuvera offers the health insurance policy at 35% lower costs on an average. Gaurav Rastogi (CEO, Kuvera.in) said that they had checked different combinations and permutations for a 31-year-old couple. He claimed that the premiums are around 20% to 35% lower and in some combinations, the premiums went down to around 50% as well.