Narayana Health Launches 'Arya' Insurance Plan With Immediate Coverage Up To Rs 1 Crore

In a move that adds another new into the insurance industry of India, Narayana Health has introduced its latest insurance plan called ‘Arya’ which is offering an immediate coverage of up to Rs 1 crore. This launch comes just months after the health company entered the insurance market with its first product, ‘Aditi’ in July 2024.

With ‘Arya,’ Narayana Health aims to address the gap between hospitalisation and insurance for healthcare.

According to Ravi Vishwanath, Director of Narayana Health Insurance, the Indian health insurance sector has long been plagued by fine print, soaring premiums, and claims that often fail to meet customer expectations. “It is administratively cumbersome, with waiting periods and other barriers, which have contributed to the low penetration of health insurance in India,” Vishwanath pointed out as per a media report.

The numbers back this statement. Despite premiums rising by almost 20 per cent between FY23 and FY24, the number of insured individuals has only grown by 6 per cent. This suggests that rather than expanding coverage to more people, the industry’s growth has largely come from price hikes.

What Does ‘Arya’ Offer?

Narayana Health’s plan is offering hospitalisation coverage starting at Rs 25 lakh and going up to Rs 1 crore, with flexible top-up options beginning at Rs 25,000.

This insurance plan includes access to following healthcare needs;

- General practitioners

- Pediatricians

- Obstetrician gynecologist (OBGYNs)

- Diagnostics

- Specialist consultations

- Medications.

Reportedly, the plan is also offering home sample collection, free medicine delivery, and CAP-certified lab access for policyholders.

The report states that Arya would offer immediate benefits from day one which could mean no waiting periods before coverage kicks in. However, the exclusions (such as for PEDs) could not be confirmed by Outlook Money yet.

Launched on a pilot basis, the ‘Arya’ health plan is available only in Bengaluru for now, however, Narayana Health may extend it to other states depending on its success.

With its combination of high coverage, preventive care, and immediate benefits, policies like ‘Arya’ bring something new to how we approach health insurance i.e., combining health insurance with hospitals. The success and practicality of such plans will depend on how they develop on a larger scale.