HDFC ERGO Health Insurance

HDFC ERGO is a 51:49 joint venture between HDFC Ltd and ERGO, which is the primary insurance entity of the Munich Re Group of Germany. HDFC ERGO, the 3rd largest Private General Insurer with a 6.2% market share, offers products like Motor, Health, Travel, Home, Personal Accident, and Cyber Insurance in the retail space and customized products like Property, Marine, and Liability Insurance in the corporate space through its network of 203 branches spread across 170 cities and a wide distribution network. The company is also committed to delivering customised insurance solutions for the Property, Marine, and Liability insurance requirements of its corporate customers.

HDFC General Insurance was conferred with ICAI Award for Excellence in Financial Reporting in FY 2014-15 as well as in 2015-16. The insurer has been assigned an ‘iAAA’ rating by ICRA, indicating its highest claim paying ability. HDFC Ergo General Insurance won the 2016 Best Customer Experience Award of the Year in the financial sector by KamiKaze for its unparalleled customer service.

In the health insurance space, HDFC Ergo General Insurance features a wide array of products including customized policies made for Individuals, Families, Parents and Senior Citizens. The company also offers tailor-made solutions for Critical Illnesses and Personal Accidents.

There are a number of factors that affect the amount of your health insurance policy. The awareness of such factors help you choose a policy as per your requirements and budget. The following are the factors that affect the amount which you pay as a Fpremium for a health insurance plan.

• Age - The premium amount increases with the age of the policyholder. This is because at an older age you are more prone to diseases. Thus, it is wise to buy a health insurance plan at the earliest.
• Pre-Existing Medical Conditions - Another factor that affects the premium amount if the history of your medical condition. People with pre-existing illnesses may get their plans rejected or get them at a high premium.
• Unhealthy Lifestyle/Habits - Unhealthy lifestyle and bad habits like smoking, excessive drinking, chewing of tobacco makes an individual more vulnerable to diseases. Thus, people with such lifestyles are offered health insurance plans at relatively higher premium amounts.
• Sum Insured - Sum insured refers to the maximum amount which an insurer promises to pay under the health insurance plan. The higher the sum insured, the higher is the premium amount of the plan.

HDFC Ergo General Insurance offers a variety of health insurance plans to its customers. Following are the top 3 health insurance plans offered by HDFC Ergo General Insurance:

1. HDFC Ergo My Health Suraksha Plan: It is a comprehensive health insurance plan which is available on individual as well as on a floater basis. The coverage under this plan includes expenses incurred for inpatient hospitalisation, pre-hospitalisation, post-hospitalisation, day care procedures, domiciliary treatment, organ donor, emergency ambulance, AYUSH treatments and health check-ups. The policy is available with a tenure of 1 year as well as 2 years, with lifetime renewability. Moreover, the plan provides you with an additional benefit of a cumulative bonus as a reward if you do not make a claim during the policy period.

2. HDFC Ergo Critical Illness Insurance Plan: As the name suggests, it is a critical illness health insurance plan which covers upto 15 critical illnesses including heart attack, stroke, cancer, paralysis, and kidney failure. This plan is available in two variants. This plan requires no medical check-ups up to the age of 45 years and comes with the benefit of lifetime renewability.

3. HDFC Ergo My Health Medisure Super Top-up Plan: This helps you ensure enough cushion cover in case your existing plan is not able to meet all the incurred health costs. This plan helps you get the best medical treatment by taking care of limitations of sum insured of your existing plan. The HDFC Ergo Medisure Super Top-up Plan provides you cover for inpatient hospitalisation, pre-hospitalisation, post-hospitalisation as well as day care procedures.

4. HDFC Ergo My Health Women Suraksha Plan: This plan is available in three variants namely Women Cancer Plus Plan, Women CI Essential Plan and Women CI Comprehensive Plan. The HDFC Ergo My Health Women Suraksha Plan, provides coverage for cancer, major illnesses, preventive health-checkups, wellness and health coach, surgical procedures, and cardiac ailments and procedures. The plan also provides coverage for pregnancy and newborn complications are covered to an extent of 25% of the sum insured subject to a maximum of Rs. 5 lakh. A special feature of the plan loss of job benefits, which is available as 50% of monthly salary, up to 6 months.

5. HDFC Ergo My Health Medisure Classic Insurance Plan: This plan provides coverage for inpatient hospitalisation, pre-hospitalisation and post-hospitalisation expenses. The plan also provides coverage for day care procedures, maternity coverage, newborn baby cover, ayurvedic treatment, and pre-existing disease post 3 years. There is no restriction on entry age under this plan which also gives complete cover for your children till the age of 23 years.

Some of the advantages of purchasing a HDFC Ergo health insurance plan are as follows:

• High Claim Settlement Ratio - HDFC Ergo General Insurance featured an impressive claim settlement ratio of 86.52% in FY 2019-20. With its consistent, easy, and affordable service, the insurer has won the trust of more than 1 crore customers.
• 24*7 Customer Support - The customer support team of HDFC Ergo General Insurance is available 24*7 at the service of its customers. The company’s in-house claims team works round the clock to provide hassle-free claim experience to its customers and support in hours of need.
• Good Track Record - HDFC Ergo General Insurance has been catering to the insurance needs of its customers from the last 16 years. HDFC Ergo General Insurance won the Best Customer Experience Award in the financial sector in 2016 by KamiKaze for its great customer service.
• Pan India Presence - HDFC Ergo General Insurance maintains a pan India presence with a wide network of more than 10,000 cashless hospitals, 120+ branch offices and over 3,000 employees.

Following are the benefits which you can enjoy with health Insurance plans offered by HDFC Ergo General Insurance:

• No Medical Test Up to 45 Years: If you are fit and healthy, you can take most of the health insurance plans offered by HDFC Ergo General Insurance without getting any medical tests done. Please note this feature is only available for people up to 45 years of age.
• Free Renewal Health Check-up: Policyholders of health insurance plans offered by HDFC Ergo General Insurance are eligible for a free health check-up within 60 days after the renewal of the policy with the insurer.
• No Entry Age Restriction: All individuals of at least 18 years of age are eligible to buy health insurance plans offered by HDFC Ergo General Insurance. The insurer offers plans to all age groups.
• Lifetime Renewability: The health insurance plans provided by HDFC Ergo General Insurance come with the feature of lifetime renewability. Thus, you need not exit from them.
• Tax Benefit: A policyholder can avail tax deductions under all HDFC Ergo health insurance plans as per section 80D of the Income Tax Act. This tax exemption can be availed on both individual as well as family floater health plans, which offers coverage to you, your spouse, dependent children and parents.
• Cashless Treatment: HDFC Ergo offers cashless medical facilities to their policyholders at their registered network hospitals. Under a cashless facility, a policyholder is not required to worry about arranging money for paying hospital bills as here the insurance provider settles the medical bill directly with the hospital. There are more than 10,000 hospitals registered with HDFC Ergo all over the nation.
• Health Check-Ups: In India, most of the health insurance providers provide the facility of free preventive health check up to the policyholder at regular intervals based on the terms and conditions of the health insurance plans.

HDFC Ergo offers coverage for hospitalisation expenses incurred due to COVID-19 treatment under their several health insurance policies subject to the terms and conditions stated in the policy document. The insurance company offers coverage for both pre-hospitalisation as well as post-hospitalisation expenses. However, before the coverage begins, you are required to go through a waiting period of 30 days after which you can receive compensation of COVID-19 treatment including in-patient treatment expenses, pre-hospitalisation expenses, post-hospitalisation expenses, and so on.