Frequently Asked Questions

nyvo is an IRDAI-certified corporate insurance agent (License CA1085) that helps Indian families choose the right health and term insurance. Unlike commission-driven aggregators, nyvo offers personalised 1-on-1 advisory with salaried advisors who compare 30+ insurers and recommend policies based on your family's needs, not sales targets. We also provide end-to-end claims support for the lifetime of your policy.

Yes. The initial 30-minute consultation is completely free with zero obligation to buy. nyvo earns a regulated commission from insurers only if you choose to purchase through us – and importantly, the premium you pay is exactly the same as buying directly. There are no hidden fees, no upsells, and no cost for our advice, policy comparison, or claims assistance.

Insurance aggregators monetise by selling your phone number as a lead to multiple insurers, triggering dozens of sales calls. nyvo is different in three ways: (1) our advisors are salaried, not commission-driven, (2) we focus only on health and term insurance – the two products that actually protect your family, and (3) we provide 24/7 claims support for your entire policy tenure, not just at the point of sale.

nyvo partners with 30+ IRDAI-registered insurers across health and life insurance. Health insurance partners include HDFC ERGO, Star Health, Care Health, ICICI Lombard, Niva Bupa, Aditya Birla Health, Tata AIG, Manipal Cigna, Magma, IndusInd General, and more. Term insurance partners include HDFC Life, ICICI Prudential, Axis Max Life, Tata AIA, SBI Life, and Bajaj Life. Recommendations are based on your needs, not our commission margins.

Yes. nyvo provides 24/7 claims support for the entire lifetime of your policy. Our team helps you with documentation, pre-authorisation for cashless treatment, reimbursement filing, follow-ups with the insurer, and escalation to the IRDAI Insurance Ombudsman if a genuine claim is unfairly denied. We have processed 3000+ policies and handled hundreds of claims successfully.

For most Indian families, the right structure is a ₹5-10 lakh base policy combined with a ₹15-25 lakh super top-up, giving total coverage of ₹20-35 lakh at a fraction of the cost of a single large policy. Exact coverage depends on your city (metros need more), family size, age of parents, pre-existing conditions, and preferred hospital tier. Use our free Health Insurance Coverage Calculator or book a call for a personalised recommendation.

A super top-up is a secondary health insurance policy that kicks in after you cross a deductible (usually equal to your base policy's sum insured). It gives you far more coverage per rupee than simply buying one large base policy. For example, a ₹10 lakh base + ₹20 lakh super top-up often costs less than a single ₹20 lakh base policy, while giving you ₹30 lakh total coverage. For most Indian families, this base-plus-super-top-up combo is the smartest and most cost-efficient setup.

No. Corporate health insurance has three critical weaknesses: (1) coverage limits are typically ₹3-5 lakh, which is inadequate for major surgeries in metro hospitals, (2) coverage ends the day you leave the company, exit on a bad day, or get laid off, and (3) it does not cover you or your spouse after retirement, which is exactly when you need it most. Always maintain a personal health policy as primary protection – treat corporate cover as a bonus, never your only safety net.

Pre-existing diseases (PEDs) are any health conditions, surgeries, or medications you have or have had before buying the policy. Per the IRDAI Master Circular on Health Insurance (May 2024), PEDs now have a maximum waiting period of 36 months (3 years) before they are covered, capped down from the earlier industry standard of 48 months. Modern plans typically apply 24-36 months. Always disclose PEDs truthfully on the proposal form, even minor ones like hypertension, thyroid, or diabetes. Non-disclosure is the number-one reason health insurance claims get rejected, and insurers can cancel your policy retroactively if discovered during a claim investigation.

Co-pay is a clause where you pay a fixed percentage – typically 10% to 20% – of every hospitalisation claim, with the insurer paying the rest. While co-pay lowers your annual premium, it can cost you lakhs during a major hospitalisation. For example, a 20% co-pay on a ₹10 lakh surgery means you pay ₹2 lakh out-of-pocket. We generally recommend avoiding co-pay unless you are buying a senior citizen plan where it is unavoidable, or you understand the trade-off and are comfortable with the out-of-pocket exposure.

Yes, at renewal. Under IRDAI portability rules, you can switch your health insurance from one insurer to another without losing your accumulated waiting period credits for pre-existing diseases, specific illnesses, or the initial 30-day waiting period. IRDAI's Master Circular on Protection of Policyholders' Interests (5 September 2024) asks you to apply to the new insurer no earlier than 60 days and no later than 30 days before renewal; nyvo research (September 2026) suggests applying 45 to 60 days before your renewal date, so the new insurer can finish underwriting before the old policy lapses. Under the same circular, your old insurer must share your data through the Insurance Information Bureau within 72 hours, and the new insurer must decide within 5 days of receiving it. Portability is most useful if your current insurer has poor claim settlement, rising premiums, or a shrinking hospital network.

A practical formula: Term cover = (10-15× your annual income) + outstanding loans (home, education, personal) + future goals (children's education, spouse's retirement) minus existing liquid investments and life insurance. For a 30-year-old earning ₹15 lakh per year with a ₹50 lakh home loan, that translates to ₹2-2.5 crore of cover. Round up to the nearest standard denomination (₹2 cr, ₹2.5 cr, ₹3 cr). Use our free Term Insurance Calculator for a detailed, personalised estimate.

LIC sells both pure term plans and traditional endowment/money-back plans. The comparison people usually mean is term insurance versus endowment/money-back: endowment plans bundle insurance with savings, offering low coverage (typically ₹5-25 lakh) and poor returns (4-6% annualised). Pure term insurance gives you 10-20× more coverage at the same premium because it is pure protection. For family protection, term insurance is always the better choice – invest the difference in equity mutual funds for far superior long-term wealth creation.

Buy term insurance until your dependents no longer need your income – typically age 60 to 65. If you have young children, a large home loan, and a spouse without independent income, cover until 65 is the safer choice. After retirement, if you have built a sufficient corpus, cleared all loans, and your children are financially independent, the need for term insurance reduces significantly. Do not buy term insurance until age 85 or 99 – those options inflate premiums without adding real value to your family.

Keep riders simple and purposeful. The three most useful are: (1) Critical Illness rider, which pays a lump sum on diagnosis of listed diseases like cancer, heart attack, or stroke, (2) Accidental Death Benefit, which doubles the payout if death is due to an accident, and (3) Waiver of Premium, which waives all future premiums if you are permanently disabled. Avoid loading your policy with every available rider – it inflates premiums without proportional benefit. For many families, a separate critical illness health policy is better than bundling it as a term rider.

Generally no. Return of Premium plans cost 2-3× the premium of a regular term plan in exchange for returning your total premiums at the end of the policy term if you survive. The maths rarely works out: if you invest the premium difference in equity mutual funds earning 11-12%, you end up with significantly more money than what the insurer returns. Buy pure term insurance for its genuine job – protection – and invest the savings separately. ROP exists to ease the emotional discomfort of 'paying for nothing,' not to maximise returns.

Non-disclosure of smoking, tobacco, alcohol, or any health condition is one of the fastest ways to get a term insurance claim rejected. Insurers conduct thorough investigations during death claims, including medical records, autopsy reports, and witness statements. If undisclosed smoking or any material fact is discovered, they can legally deny the payout entirely – leaving your family with nothing despite years of premiums paid. Always disclose truthfully on the proposal form. Yes, smoker premiums are higher, but a rejected claim is infinitely worse than a slightly higher premium.

Cashless treatment lets you get hospitalised without paying upfront. The steps are: (1) Go to a network hospital listed in your insurer's panel, (2) Present your health insurance e-card and photo ID at the insurance desk, (3) The hospital submits a pre-authorisation request to the insurer with your diagnosis and treatment plan, (4) The insurer approves the cashless limit – typically within a few hours for planned procedures and under 6 hours for emergencies, (5) Treatment is carried out, (6) The insurer settles the bill directly with the hospital. You only pay for non-covered items like hospital registration, extra food, or co-pay if applicable.

Do not panic – most cashless denials are resolvable. First, ask the hospital and insurer for the denial reason in writing. Common reasons include wrong room category, non-network hospital, excluded treatment, or incomplete documentation. You can still pay out-of-pocket and file a reimbursement claim within the policy timelines (typically 30 days of discharge). For unjust denials, escalate through the insurer's grievance cell, then to the IRDAI Insurance Ombudsman, which resolves complaints within 90 days. nyvo's claims team helps clients navigate all three levels.

IRDAI's Master Circular on Health Insurance Business (29 May 2024) sets the clocks: a cashless pre-authorisation must be decided within 1 hour of the request, for a planned or an emergency admission, final authorisation at discharge within 3 hours of the hospital's discharge request, and a reimbursement claim within 30 days of the insurer receiving complete documents (policy e-card, hospital bills, discharge summary, investigation reports and prescriptions). Term insurance death claims must be settled within 15 days of intimation, or 45 days where the insurer investigates (IRDAI Master Circular on Protection of Policyholders' Interests, 5 September 2024). If any claim is delayed beyond these timelines without justification, escalate to the insurer's grievance cell and then to the Insurance Ombudsman.

Standard documents include: your policy copy or e-card, photo ID (Aadhaar/PAN), original hospital bills with itemised breakup, discharge summary, all investigation reports (blood tests, scans, biopsy), pharmacy bills with prescriptions, doctor's consultation notes, and the pre-authorisation letter if cashless was used. For reimbursement claims, also submit a completed claim form signed by the treating doctor and a cancelled cheque for the reimbursement transfer. Keep a dedicated claim folder ready before you need it – the time spent organising documents post-hospitalisation is when stress is highest.