Navi Health Insurance

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About Navi Health Insurance Company

Navi General Insurance Company is a wholly owned subsidiary of Navi Technologies- a digital finance lending organisation owned by Sachin Bansal. Navi Health Insurance started its operations in November 2017 and adopts a digital method of selling its insurance products via the Navi Health Insurance App. Despite being a new player in the health insurance industry, this company is making significant growth in the market and has satisfied more than 1.1 million customers with its insurance products.

Navi Insurance company deals in a variety of health, motor, property, commercial, and gadget insurance solutions. The company aims at providing its customers with a sense of empowerment that comes with financial independence through a wide range of well-priced products and a seamless user experience.

Key Features of Navi Health Insurance

As per IRDAI, 29 companies offer health insurance products in India. Given such a wide range of health insurance companies available in the market, it is quite obvious for a customer to feel confused about which company he/she should select. To help customers overcome this dilemma and determine how Navi General Insurance is an ideal company for them, we've compiled its key features to highlight its performance and market reputation. Customers are advised to refer to this list and check if the company offers what they need before buying a health plan.

Network Hospitals 10,000+
Solvency Ratio 2.48
Claim Support (within 3 months) 98.7%
Annual Gross Premium 2019-20 Rs. 33.35 crores

**Last Updated on June, 2021

Given below is a brief explanation of these features. Let's understand them in detail.

  1. Network Hospitals

    Cashless hospitalization is one of the most important benefits provided by an insurer within the health insurance policy. Generally, the insurance companies partner with a specific number of network hospitals and allow the customers to seek medical treatment in any one of those hospitals without paying money from their own pocket.

    One of the best parts of Navi Insurance Company is that it is empanelled with a strong network of more than 10,000 network hospitals across India. This is a very good number because there are only a few insurance companies in India that partners with more than 7000 network hospitals.

    Let's have a look at the graph below to get better insights about the network hospitals offered by Navi in comparison to its market competitors.

    Network Hospitals of Navi Health Insurance Company

    network hospital chart of Navi General insurance

    **Data from IRDAI Annual Reports

  2. Annual Premium

    Before buying an insurance plan, it is important to have an idea about the business reputation and market performance of the insurance provider. And for this, customers are advised to check the annual premium of their selected insurance company. In the case of Navi General Insurance, the company has started its operation recently in 2017 and that is why the annual premium figure of the company is not huge. As per IRDAI, the premium amount of this company stood at Rs. 104.26 crores during 2018-19 but later on, it decreased to Rs. 33.35 crores in 2019-20.

    For more clarification, refer to the chart below that compares the annual gross premiums for the year 2019-20 of Navi Insurance Company with its other competitors from the insurance market.

    Annual Premium of Navi Health Insurance Vs Other Insurance Companies

    annual premium chart of Navi General VS Other Insurance Companies

    **Data from IRDAI Annual Reports

  3. Claim Support Ratio

    There is no point in investing money and efforts in a health insurance policy if the company cannot settle the claim timely. Therefore, it is important to the claim paying ability of a company and its past record of settled claims. IRDAI in its annual reports publishes the Claim Support Ratio of all the health insurance companies to help customers refer to reliable data and make an informed choice. Navi Health Insurance company has a claim support ratio of 98.7% in IRDAI's Annual Report 2019-20 which signifies a good claim settlement track of the company.

    We've created a chart here to illustrate the comparison of the claim support ratio of Navi Insurance Company with its competitors. Let's take a look.

    Claim Support Ratio of Navi Health Insurance VS Other Insurance Companies

    claim support ratio of Navi General and Other Insurance Companies

    *Data from IRDAI Annual Reports

  4. Solvency Ratio

    With respect to claim settlement and market reputation, checking the financial background of an insurer is equally crucial. It measures the company's cash flow and its liabilities and helps an individual to assess the company's ability to manage its short-term and long-term liabilities. It can be determined by the solvency ratio and every insurer has to maintain a healthy solvency ratio of 1.5 according to IRDAI.

    The formula used for calculating the solvency ratio is-

    Solvency ratio = (Net income + Depreciation) / Liabilities

    Navi Health Insurance has been successfully able to match this criterion. At present, the solvency ratio of the company is 2.48 that reflects its financial strength.

    For a better understanding, let us compare its solvency ratio with other health insurance companies, and see where Navi Health Insurance stands.

    Solvency Ratio of Navi Health Insurance VS Other Insurance Companies

    Solvency Ratio of Navi General and Other Insurance Companies

    *Data from IRDAI Annual Reports

Health Insurance Plans offered by Navi Health Insurance Company

Navi General Insurance Company offers a variety of health insurance plans to help its customers stay financially protected in medical emergencies. The company has carefully crafted all its health insurance plans to fulfill the diverse insurance needs of the present customers. One of the best parts about Navi health insurance plans is that they provide customizable insurance cover ranging from INR 2 Lakh to INR 1 Crore for individuals and families. Let's have an overview of these plans.

S.No. Plan Name Who Should Buy?
1. Navi Cure This is a comprehensive, affordable plan that is designed for customers who need a health insurance plan that can be tailored as per their families' needs and pocket.
2. Arogya Sanjeevani Policy This plan is best suited for first-time buyers who wish to cover their health care needs at affordable costs.
3. COCO Seasonal Byte Customers looking for insurance that exclusively covers seasonal illnesses should invest in this plan.
4. COCOProtect The plan is designed for customers who want to ensure the financial stability of their families in case of an unforeseen accident.
5. Group Health Products This plan is ideal for customers who want to secure their group members/employees and their dependents against accidental and medical emergencies.
6. Corona Kavach Policy This policy focuses on protecting the policyholders against the treatment expenses resulting due to COVID-19 infection.
7. Corona Rakshak Policy The plan is designed to provide a lump sum payment of the sum insured to the policyholder if he/she gets diagnosed with COVID-19 infection.

**Last Updated on June, 2021

Given below is a detailed description of these plans. Let's explore.

  1. Navi Cure

    Navi Cure is a comprehensive, affordable, and highly customizable health insurance product designed to protect the health care needs of the customers as well as their family members. The plan comes on both an Individual and Family Floater basis and offers wide coverage of more than 22 built-in benefits.

    Key Features:

    • The plan covers a variety of medical expenses that arise due to in-patient hospitalisation of the insured person for more than 24 consecutive hours.
    • Special cover for expenses incurred on treatment of mental illness and HIV AIDS is also included within this plan.
    • Customers can grab the hospital daily cash benefit wherein a fixed cash amount up to 30 days of hospitalisation is provided to the policyholder, for each day of hospitalisation.
    • The plan allows policyholders to avail themselves worldwide hospitalization facilities if they are suffering from any life-threatening illnesses.
    • The plan offers maternity cover for a maximum of 2 deliveries, newborn baby treatment as well as vaccination expenses.

    Eligibility Criteria:

    Criteria Minimum Maximum
    Entry age Child- 91 days
    Adult- 18 years
    For Sum Insured of Rs. 2 Lakhs- No limit
    For all other Sum Insured- 70 years
    Renewal Age Adults- Life-long renewals
    Dependent Child- Up to 30 Years
    Policy Period 1, 2 & 3 years

    **Last Updated on June, 2021

  2. Arogya Sanjeevani Policy

    Navi General Insurance's Arogya Sanjeevani policy is a standard individual health insurance plan that is designed specifically for first-time buyers covering all their health needs. The plan offers medical coverage to individuals and their families at affordable premiums.

    • The plan offers cover for pre & post-hospitalization expenses for a period of 30 & 60 days respectively.
    • Coverage for the medical expenses incurred on daycare procedures as well as on AYUSH Treatment is also included within this plan.
    • Customers can avail of additional benefits for the expenses incurred on dental treatment and plastic surgery.
    • The plan also covers ambulance charges up to Rs. 2000 per hospitalization.

    Eligibility Criteria:

    Criteria Minimum Maximum
    Entry age 18 years 65 years
    Sum Insured Amount Rs. 1 lakh Rs. 5 lakhs
    Policy Period 1 year

    **Last Updated on June, 2021

  3. COCO Seasonal Byte

    COCO Seasonal Byte by Navi General Insurance is a pocket-sized health insurance plan that provides cover for the medical expenses incurred by the policyholder if he/she gets diagnosed with seasonal ailments such as Dengue, Malaria, Swine Flu, etc. The product offers both an Indemnity and Benefit Plan.

    Key Features:

    • The plan provides cover for the medical expenses incurred by the policyholder as an In-Patient in a Hospital for more than 24 consecutive hours.
    • Pre and post hospitalization cover for a period of 15 days is included within the plan.
    • The plan also covers the medical expenses incurred for in-patient hospitalisation at AYUSH hospitals.
    • The benefit plan option provides customers with a lump sum amount, upon diagnosis of the insured person with Dengue/Malaria during the policy year.
  4. COCOProtect

    COCOProtect is a Personal Accident insurance product that offers lump-sum benefits against accidental death, accidental permanent total disability, and many more.

    Key Features:

    • In case of the policyholder's death due to an accident, the policy provides a sum insured and applicable cumulative bonus to the nominee.
    • If death occurs while the insured person is travelling in public transport, then the company pays 200% of the sum insured amount.
    • 150% of the insured amount is provided to the policyholder in case of his accidental permanent total disability.
    • A specified percentage of the sum insured amount and a cumulative bonus are paid to the policyholder if he/she suffers from an accidental Injury that leads to permanent partial disability.
    • The plan offers special cover in the form of a lump sum amount against the cremation, funeral, and/or transportation expenses incurred after the death of the policyholder.
  5. Group Health Products

    Navi Health Insurance offers a rich variety of group health insurance products to secure their group members/employees and their dependents against accidents/health emergencies. The plan variants available within this category are:

    • Group Health Insurance Policy
    • Group Personal Accident Insurance Policy
    • Group Critical Illness Insurance Policy
    • Group Seasonal Byte
    • Group HospiCash Policy
  6. Corona Kavach Policy

    Corona Kavach Policy is an IRDA-mandated affordable health insurance policy that protects your entire family against hospitalization expenses due to COVID-19.

    Key Features:

    • The plan offers pre-hospitalization expense cover for a period of 15 days and post hospitalization expenses for a period of 30 days.
    • Ambulance expenses cover for a maximum of Rs. 2000/- per hospitalization is also included within the plan.
    • The plan includes medical expenses incurred on hospitalization for COVID-19 under AYUSH Treatment.
    • An additional benefit in the form of home care treatment expenses and hospital daily cash is included in this policy.

    Eligibility Criteria:

    Criteria Minimum Maximum
    Entry age 1 day 65 years
    Sum Insured amount Rs. 50 Thousand Rs. 5 Lakhs
    Policy period 105 day, 195 days, and 285 days

    **Last Updated on June, 2021

  7. Corona Rakshak Policy

    This is a benefit-based health insurance policy that provides a lump sum amount in case the policyholder is diagnosed with and hospitalized due to COVID-19.

    Key features:

    • The plan provides a lump sum benefit equal to 100% of the Sum Insured shall be payable on a positive diagnosis of COVID.
    • No Pre-Policy Medical Check-up is required to get the policy.
    • The plan is available on an Individual Sum Insured basis for both family and individual.

    Eligibility Criteria:

    Criteria Minimum Maximum
    Entry age 18 years 65 years
    Sum Insured amount Rs. 50 Thousand Rs. 2.5 Lakhs
    Policy period 105 day, 195 days, and 285 days

    **Last Updated on June, 2021

Exclusions of Navi Health Insurance Plans

Like most of the other insurance plans, Navi Health insurance plans also come with a list of exclusions. Given below is a list of the same. It is important for customers to have information about these exclusions since the insurance company does not pay any claims that may arise due to any of these excluded events. Let's check out this list.

Any kind of expenses arising due to:

  • Breach of Law with criminal intent
  • War and/or Nuclear exposure
  • Alcohol and Drug Abuse
  • Cosmetic or Plastic Surgery
  • External Congenital Anomaly
  • Dental treatment except as covered under Out-Patient Treatment
  • Physical developmental disorders
  • Hazardous or adventurous sports
  • Change of Gender treatments
  • Sexually Transmitted Diseases
  • Non-Allopathic Treatment
  • Self-Inflicted Injuries or attempted suicide
  • Sleep Disorders

How To Buy Navi Health Insurance Plans?

There are two methods by which customers can purchase Navi health insurance plans. These methods include buying the plan from either:

  • Navi Health Insurance App,
  • Through third-party intermediaries like agents and brokers.

As discussed above, Navi General insurance company utilizes the digital approach for selling its insurance products to customers. This becomes a significant advantage for the customers as it allows them to buy plans in an easy, convenient, and seamless manner. There's no need for any paperwork as customers can have access to all the services of the company within just 2 minutes.

What is the Claim Procedure of Navi Health Insurance Plans?

The policyholders of Navi General Insurance can raise claims for their health insurance policy through following two ways:

  • Cashless Claims process (With network hospitals)- Under this process, the insurance company settles the medical bill directly with the hospital. It works as a great way to lessen the burden on the customers.
  • Reimbursement Claims process- With this method, policyholders are required to clear their medical expenses arising out of hospitalisation first and then raise a reimbursement claim by submitting proper medical bills and documents.

The claim procedures for both these methods are described below.

Cashless Claim Procedure

  • Notify the company about your claim request by calling its toll-free number or writing an email.
  • For planned hospitalisation, notify the company at least 48 hours prior to admission.
  • In case of emergency hospitalisation, the claim notification should be sent to the company within 24 hours of admission to the hospital or before discharge whichever is earlier.
  • Provide the health card along with photo identification proof of the policyholder to the hospital authorities.
  • Duly fill the cashless request form and submit it to the hospital.
  • Pre-Authorisation request form will be sent by the hospital to the cashless department of TPA.
  • At the time of discharge, the hospital will forward a final authorisation request.
  • Discharge will be done post receipt of the final authorisation letter by the hospital.

Reimbursement Claim Procedure

  • Customers are required to settle all the hospital bills.
  • At the time of discharge, he/she must collect all the important documents provided by the hospital including discharge summary and bills.
  • Submit all these documents to the company or Third-Party Administration within 15 days from the date of discharge.
  • The company will verify all the documents. On approval, the claim amount will be released.

Documents Required for Filing Navi Health Insurance Claim

Given below is the list of documents that are required while raising a claim with Navi health insurance company.

  • Claim Form Duly Filled and Signed
  • Original Discharge/Death Summary
  • Operation Theatre Notes (if any)
  • Original Hospital Main Bill along with break up Bill and original receipts
  • Original investigation reports, X-Ray, MRI, CT films, HPE, etc.
  • Doctors Reference Slips for Investigations/Pharmacy
  • Original Pharmacy Bills
  • MLC/FIR Report/Post Mortem Report (if applicable and conducted)
  • Details of the implants including the sticker indicating the type as well as invoice towards the
  • Cost of implant
  • KYC documents (Photo ID proof, Pan Card, Aadhar Card, etc.)
  • Cancelled cheque for NEFT payment

How To Contact Navi General Insurance Company?

Corporate Office Address: Navi General Insurance Limited

402, 403 & 404, A & B Wing, 4th Floor, Fulcrum, Sahar Road, Next to Hyatt Regency, Andheri (E), Mumbai -400099

Head Office Telephone: 1800 123 0004

Email: insurance[dot]help[at]navi[dot]com

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FAQs

Yes. Upon buying any of Navi health plans, customers become eligible to claim tax benefits under Section 80D of the Income Tax Act, 1961.

Yes, the policyholder can get the policy cancelled after its purchase if he/she is not satisfied with the product. However, they can do so within 15 days of receiving the policy documents.

Yes, the health insurance plans by Navi have a copayment clause of 5% that is applicable to the claim amount admissible and payable as per the terms and conditions of the policy.

The sum insured amount can be changed (increased/ decreased) only at the time of renewal or at any time, subject to underwriting by the Company. For any increase in sum insured, the waiting period shall start afresh only for the enhanced portion of the sum insured.

Yes, as per the guidelines issued by IRDAI, Navi insurance company allows its customers to port their policy to other insurers.

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.3/5 (6 Total Rating)

June 7, 2021

Tanmay Sharma

Delhi

As a customer of Navi health insurance I enjoyed the paperless buying experience and great customer support. the health policy is also very good and affordable. I recommend all my friends and family to buy health insurance from Navi.

June 7, 2021

Divyanshu Singh

Delhi

From buying to settling claims- Navi insurance company offers best service to the customers. I purchased health insurance policy from Navi last year and I m very happy with my decision. Thank you Navi.!

June 7, 2021

Vikaas Tripathi

Meerut

My friend suggested me to buy health insurance from Navi last year and I found this policy very affordable. The plan gives me good coverage and any benefits. I am very happy with my plan.

June 7, 2021

Nischay Arora

Amritsar

Trust me, health insurance plans by Navi are the best plans available in the market right now. After researching a lot- I purchased health policy from Navi and I ve not found any other company offering so many benefits at such great price.

June 7, 2021

Pragya Rathore

Jaipur

My overall claim experience with Navi company was very good. I applied for claim for may policy last year in December and the company responded to my claim request very quickly.

Last updated on June, 2021

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