NPS Swasthya: Aditya Birla Health, Axis Bank offer top-up health cover to account holders
NPS Swasthya is a top-up health insurance offering from Aditya Birla Health Insurance for eligible Axis Bank account holders. Axis Bank acts as the corporate agent, while the insurer underwrites the risk.
NPS Swasthya offers Axis Bank account holders an additional health cover through Aditya Birla Health Insurance’s Group Activ Health product.
NEW DELHI – NPS Swasthya: Aditya Birla Health Insurance Co. Ltd has introduced a group top-up health insurance plan for NPS Swasthya account holders at Axis Bank, offering family floater cover of ₹1 lakh to ₹30 lakh, according to a product brochure.
Annual premiums, inclusive of GST, start at ₹1,732 for a single adult aged 18 to 40 on the ₹30 lakh option and rise to ₹29,743 for a family of two adults and two children in the 61 to 70 age band on the ₹5 lakh option, the brochure shows.
The plan is sold under ABHI’s Group Activ Health product. Axis Bank is a corporate agent of the insurer and does not underwrite the risk, the brochure says. It was not clear from the document when the plan went on sale. ABHI and Axis Bank did not immediately respond to requests for comment.
NPS Swasthya: How the top-up works
Each sum insured is paired with an aggregate deductible: ₹10,000 for the ₹1 lakh cover, ₹50,000 for ₹5 lakh, ₹1 lakh for ₹10 lakh and ₹3 lakh for ₹30 lakh. Under a top-up structure, the insurer pays claims only after the deductible has been exhausted.
Premiums vary with the sum insured, the family’s composition and the age of the eldest member. For a single adult aged 18 to 40, annual premiums are ₹1,732 for ₹30 lakh, ₹3,897 for ₹10 lakh, ₹4,503 for ₹5 lakh and ₹4,123 for ₹1 lakh. For two adults and two children in the same age band, the corresponding figures are ₹4,002, ₹9,002, ₹11,989 and ₹9,523. Premiums are subject to annual revision, the brochure says.
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NPS Swasthya: Eligibility and renewal
The plan can be bought in six combinations of adults and children, from one adult to two adults and two children. Cover extends to the account holder, a legally married spouse and up to the first two financially dependent natural or legally adopted children.
Account holders and spouses can enter between ages 18 and 70, and children from 91 days to 25 years. The policy is renewable up to lifetime.
Enrolment requires a Good Health Declaration, which the account holder completes on behalf of the family, and the policy is issued subject to a clean declaration. If a proposal is declined, the subscriber must be told the specific reason, and a decline for one family member does not by itself disqualify the others, the brochure says. The plan is open only to Indian citizens associated with NPS Swasthya account holders.
NPS Swasthya: What is covered
Pre-existing diseases are covered after a 12-month waiting period. A 30-day initial waiting period applies, and specified diseases and procedures carry a one-year wait.
Room rent is covered up to a single private room for normal hospitalisation, with ICU charges paid as per actuals. Other listed benefits include AYUSH treatment, mental illness, HIV, modern treatments, day-care procedures, domiciliary hospitalisation, and road ambulance up to ₹2,500 per incident in an emergency. Pre-hospitalisation expenses are covered for 30 days and post-hospitalisation expenses for 60 days.
The plan also includes ABHI’s Activ Health wellness services, among them five general physician tele-consultations a year, an app-based health assessment and one complimentary counselling session. Exclusions follow the Group Activ Health policy wordings, and the policy has a 30-day free-look period.
