Health insurance is something many of us either delay or buy without really knowing how much we actually need.
Before we talk about the “right” amount, let’s first understand where everyone stands today with a quick poll
₹0–2L
₹3–5L
₹5–10L
₹10–20L
₹20L+
I don’t have any health insurance
0voters
A lot of people either don’t have health insurance or aren’t sure if their coverage is enough and with medical costs rising every year, even a single hospital visit can turn into a major expense.
That’s exactly why we built the Coverage Quiz
A simple 1-min check that tells you how much insurance you actually need based on your lifestyle, age, and health profile.
Currently Jupiter money has option to purchase super top up plan for health insurance which is good, but I think having an option to purchase insurance would be great
I wanted to share my thoughts regarding the recent changes in Jupiter Bank’s offerings, particularly related to health insurance and cashback. When I first signed up, the bank had a promising and transparent approach: they offered basic health insurance with the salary account, which was a big plus for customers like me. At that time, it genuinely felt like Jupiter cared about its customers’ well-being.
However, it’s disappointing to see that they have now removed this basic health insurance offering. Initially, the inclusion of health insurance was a standout feature, especially for salary account holders. Now, it seems like the focus has shifted away from customer benefits towards more corporate-driven goals. The recent survey asking about health insurance options feels disingenuous, given that the very offering they once promoted has been taken away.
Additionally, the changes to the cashback program are concerning. Previously, cashback was a straightforward benefit, but now it seems like it’s been replaced by a system involving “jewels,” with no easy way to convert them into cash. To make matters worse, the new conversion rate of 5 jewels to 1 rupee makes it feel like the bank is just playing a numbers game, trying to make the rewards appear more valuable than they actually are.
What’s frustrating is the lack of transparency in these shifts. What was once a bank offering straightforward and simple benefits seems to have transformed into a company focused more on partnerships with insurance providers and making a profit off customers. I believe it’s important to consider how the offerings and promises made before 2023 have changed, and whether these changes are truly in the best interest of the customers or just a way to increase revenue.
It’s disappointing to see the bank move away from the values it initially presented to its users. I hope they reconsider these changes and reintroduce the health insurance and cashback options that once made them stand out.
Thanks for reading, and I’d love to hear others’ thoughts on this.
We are NOT a bank and were NEVER one. We have a co-brand partnership with Federal Bank for savings/salaried account.
To your point regarding insurance, we are not insurers and had a partnership with Onsurity for insurance which ended, therefore we had to discontinue the offering. We proactively informed it to all the companies.
We understand that it was an interesting feature therefore we are figuring out another partnership given we have a direct broker license now. More on it soon.
We are also going to upgrade our salary account benefits soon. Team will put in the product dashboard soon.
I would like to share some specific feedback regarding the cashback and rewards structure:
If a user is eligible for ₹1 cashback, it should ideally be credited as ₹1. Converting it into “jewels” and then applying minimum thresholds for cash conversion reduces transparency and the real value perceived by users.
If the current model is to continue, then it would be more practical to:
Allow jewels to be used freely without restrictions across any vouchers or benefits
Keep restrictions (if required) only on cash conversion, not on usability
At present, holding jewels until a certain limit for cash conversion, while also limiting how they can be used, makes the system less effective and less aligned with actual user needs.
Additionally, regarding upcoming features and benefits, we request:
A clear roadmap with timelines instead of general “coming soon” statements
Focus on real, usable benefits rather than adding features that may not deliver practical value
Users generally value simple, transparent, and flexible systems over complex structures that appear beneficial but are difficult to utilize in reality.
We request you to consider:
Improving transparency in cashback value
Allowing flexibility in reward usage
Sharing a clear roadmap with timelines
Focusing on core value and meaningful benefits
This would greatly improve trust and overall user experience.
Thanks for your valuable feedback. Adding a new partner is not a feature development but a matter of commercial negotiations and agreements between three entities therefore unlike feature releases, we don’t have a specific date.
Your point around usage of jewels is acknowledged however given our experience, we would like to stick to our current model.
We understand this might not be the answer you were looking for but sharing things transparently as it stands.
