Quick Overview
New India Assurance is one of India’s most recognized general insurance companies. Founded in 1919 by Sir Dorabji Tata, it has over 100 years of insurance history and 1,900+ offices across India. IRDAI classifies it as a Domestic Systemically Important Insurer (D-SII), a designation reserved for companies so large that their failure could affect policyholders and the industry as a whole. New India Assurance is also listed on the stock exchange.
In the New India Assurance Health Insurance review, we’ll discuss its performance metrics, plans, premiums, contact details, and whether it's a good fit for you.
New India Assurance Performance Metrics
In the table above, CSR stands for claim settlement ratio, ICR stands for incurred claims ratio, and GWP stands for gross written premium.
Note:
- The complaint numbers shown above reflect all of New India Assurance’s products (health, motor, and others), as product-wise complaint data is not published separately.
- All this data is sourced from IRDAI Annual reports and New India Assurance’s public disclosures.
Key Insights on New India Assurance’s Performance Metrics
- CSR: The Claim Settlement Ratio is well above the industry average, so the chances of your claim getting rejected outright are relatively low.
- ICR: The insurer consistently pays out more in claims than it collects in premiums. But this raises long-term sustainability concerns and may lead to tighter claim scrutiny or premium hikes over time.
- Complaints: Fewer policyholders dispute their claims compared to most other insurers, suggesting the day-to-day claims experience is relatively friction-free.
- GWP: New India Assurance has a significantly larger health insurance book than the average insurer, reflecting scale and operational experience.
- Network Hospitals: With a considerably smaller network, you may find that your preferred hospital is not covered for cashless treatment, forcing you into the reimbursement route.
Top Plans Offered by New India Assurance
New India Assurance offers a wide range of health products, but for most retail buyers, these are the three plans worth knowing.
1) New India Mediclaim Policy
New India Mediclaim Policy is an entry-level individual plan designed for buyers who want basic hospitalization cover with few moving parts.
Key Features
- Covers 30 days of pre- and 60 days of post-hospitalization expenses
- Adds a 25% bonus for every claim-free year, up to 50% of the sum insured
- If your sum insured is ₹5 lakh or more, it provides a one-time 100% restoration for an unrelated illness
Key Drawbacks
- Room eligibility is capped at 1% of the sum insured per day for room rent and 2% per day for ICU, so even one room-category upgrade can trigger proportionate deductions
- Cataract is capped at 20% of the sum insured or ₹50,000 per eye, whichever is lower
- The plan does not offer any domiciliary coverage
2) New India Premier Mediclaim Policy
New India Premier Mediclaim Policy is the richer legacy plan in the lineup, sold as Plan A (₹15 lakh and ₹25 lakh) and Plan B (₹50 lakh and ₹1 crore).
Key Features
- It covers actual room rent and ICU charges, so there is no room-rent cap here
- Outpatient Department (OPD) benefits are unusually strong for a PSU plan, ₹5,000 after two claim-free years in Plan A and ₹10,000 in Plan B
- Inbuilt maternity benefit up to ₹50,000 in Plan A and ₹1 lakh in Plan B, and fertility procedures covered up to ₹1 lakh and ₹2 lakh
- It also offers hospital cash of ₹2,000 and ₹4,000 per day for up to 10 days, and critical illness payout of ₹2 lakh and ₹5 lakh, respectively, for plans A and B
Key Drawbacks
- It still misses three modern basics - no restoration, no-claim bonus, and domiciliary treatment cover
- Cataract is capped at ₹75,000 in Plan A and ₹1 lakh in Plan B
3) Yuva Bharat Health Policy
This is New India’s latest retail plan for adults aged 18 to 45, available in Base, Gold, and Platinum variants.
Key Features
- The biggest upgrade is the 24-month waiting period for pre-existing conditions (PEDs), plus 60 days pre- and 90 days post-hospitalization across all variants
- Gold and Platinum get double restoration in a policy year and a guaranteed cumulative bonus of 25% for every claim-free year, up to 100% of the sum insured
- Platinum offers fertility and birth-related benefits, with infertility cover ranging from ₹50,000 to ₹2 lakh, depending on the sum insured, and pre-term baby cover ranging from ₹30,000 to ₹1 lakh
Key Drawbacks
- Room choice is still restricted by sum insured: single AC rooms for ₹5 lakh, ₹10 lakh, and ₹15 lakh; deluxe AC rooms for ₹25 lakh and above
- Genetic disorders are capped at 25% of the sum insured per policy year after a 24-month waiting period
- Mental illness coverage is also capped at 25% after a 24-month waiting period
Premium Comparison for New India Assurance
Note: These are indicative base premiums for a Delhi resident (110001) with a ₹15 lakh sum insured. Your premium can change based on age, city, medical history, plan variant, and chosen add-ons.
New India Assurance: Contact Details and Address
Customer Support
Registered Office: New India Assurance Building, 87, Mahatma Gandhi Road, Fort, Mumbai 400001, India
IRDAI Registration No.: 190
Top 10 Health Insurance Companies in India
New India Assurance does not feature in our top 10. Our methodology for ranking the best health insurance companies in India considers multiple factors, such as CSR, GWP, complaints, and more, to give you a well-rounded view.
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Conclusion
New India Assurance gets a few big things right: a long track record, low complaint volumes, and a newer flagship plan that is finally moving in the right direction. That makes it a credible option, especially for buyers who feel more comfortable with a Public Sector Undertaking (PSU) insurer.
That said, we still would not call it the best pick for most people. Its high ICR remains a concern; the older plans are still weighed down by restrictions, and the hospital network lags behind stronger private insurers. The use of Third-Party Administrators (TPAs) raises concerns during claims, as they are known to reduce insurers' claim costs. This can lead to an unpleasant experience for customers. Even Yuva Bharat Platinum, which is clearly its best retail plan today, does not quite match what plans such as HDFC ERGO Optima Secure or Care Supreme offer at a similar price.
Disclaimer: New India Assurance is not a partner insurer of Ditto. Our assessment here is completely independent and based solely on publicly available data and the evaluation framework we use for all insurers. Please check New India Assurance’s official website for the latest available information.
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