Niva Bupa Health Insurance unveils ‘Aspire’ tailored for youth. Details here

livemint.com:

Niva Bupa Health Insurance Company, previously recognized as Max Bupa Health Insurance Company, has launched its newest offering, Aspire, with a specific focus on catering to the preferences and requirements of the Gen Z and millennial demographic. This product adopts a progressive approach to health insurance, aligning with the distinctive needs and aspirations of the younger generation.

As per the most recent (fifth) edition of the National Family Health Survey (NFHS-5), covering the period from 2019 to 2021, only 30 per cent of women aged 15-49 and 33 per cent of men in the same age bracket were enrolled in health insurance or a health scheme. Despite various government initiatives and efforts by private insurers aimed at extending health coverage to a broader population, a significant portion of our population, commonly referred to as 'Young Indians,' remains without health insurance. Today's youth are increasingly health-conscious, dedicating their time, money, and effort to maintaining fitness. 

However, the perceived urgency to purchase health insurance is often lacking, as they may not feel an immediate need while young and less prone to requiring hospitalization, even though such coverage is crucial for securing both their health and finances in the event of a medical emergency.

Apart from the Lock the Clock feature, allowing customers to pay based on their entry age until the first claim, and Booster+ which enables carrying forward the unutilized base sum insured up to 10X, Aspire introduces several additional industry-first benefits tailored to this specific customer segment. The product encourages individuals to 'start young' and incorporates a comprehensive parenthood benefit known as M-iracle. This benefit