HDFC Life Health Assure Plan
HDFC Life Health Assure Plan is a Non-Participating Health Insurance Plan. This is a Traditional Plan without Bonus Facility.
How it works – In this plan, premium can be paid in a lumpsum under Single Premium or for the entire Policy Tenure under Regular Premium. There is a Premium Guarantee for 3 years in this plan even if there is a claim.
There are 2 Plan Types:
- Silver and
- Gold
Where the Sum Assured Varies for an:
- Individual- Self Coverage
- Family Floater- Spouse, Dependent Children, Parents as well as Parents-in-Law
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Plan Option
|
Sum Assured (in Rs.)
|
|
Individual
|
Family Floater
|
|
Minimum
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Maximum
|
Minimum
|
Maximum
|
|
Silver
|
3 Lacs
|
3 Lacs
|
3 Lacs
|
5 Lacs
|
|
Gold
|
5 Lacs
|
5 Lacs
|
7 Lacs
|
10 Lacs
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This Plan covers for all options:
- Basic Hospitalization In –Patient Expenses,
- Pre and Post Hospitalization expenses
- Day Care Benefits
- Emergency Ambulance Benefit
- Donor Expense Benefit
Maternity Benefit is provided under Gold Option of Family Floater Plans after a waiting period of 3 years. There is Hospital Cash Benefit and Wellness Benefit in this plan which is payable for Gold Options in Individual as well as Family Floater Plans for a hospitalization of more than 24 hours for 0.1% of the Sum Assured. Under Wellness Benefit, free Health Check Up Vouchers are provides for each member in the plan.
There is Multiplier Effect in this Plan where the Sum Assured increases by 50% for a Claim Free Year and by another 50% in the next Claim Free Year. Thus, the Annual Sum Assured increased to 200% of the basic Sum Assured in 2 Claim Free Years.
For Example, for a basic Sum Assured of Rs 10 Lacs:
|
|
At Inception
|
After 1 Claim Free Year
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After 2 Claim Free Years
|
|
Sum Assured
|
Rs 10 Lacs
|
Rs 10 Lacs
|
Rs 10 Lacs
|
|
Multiplier Effect
|
NIL
|
Rs 5 Lacs
|
Rs 10 Lacs
|
|
Total Annual Limit
|
Rs 10 Lacs
|
Rs 15 Lacs
|
Rs 20 Lacs
|
Key Features of HDFC Life Health Assure Policy
- This is a Health Insurance Plan
- In this plan, the premium remains constant for a period of 3 years even if there has been a claim
- Self, Spouse, Children, Parents as well as Parents-in-Law can be covered in this option
- This plan can be opted for an Individual or for the family under Family Floater Option
- There are 2 Plan Types- Silver and Gold
- The coverage doubles in the first 2 claim free years without any increase in premium
- This plan offers Guaranteed Lifetime Renewability
- The premium can be paid in a lumpsum or every year annually
- There is Multiplier Effect in this plan where the Sum Assured increased by 100% in 2 consecutive Claim Free Years
Benefits you get from HDFC Life Health Assure Insurance Plan
- Hospitalization Benefit – The Regular Benefits covered under all Options of this plan are:
- In Patient Hospitalization:
- Room Rent subject to 1% of the Sum Assured for a normal room and 2% of Sum Assured for ICU
- Nursing charges, Surgeons, Anaesthetists, Dieticians and other doctor's fees
- Investigation Charges including Pathology, Radiology and other Diagnostic tests during hospitalization
- Cancer Treatment including Chemotherapy and Radiotherapy
- Cost of Artificial Limbs subject to Rs 25000 per life insured per year
- ICU Charges, Anaesthesia, blood, oxygen, OT Charges, Surgical Appliances, Medicines and Drugs, Diagnostic Materials, X-Ray, Dialysis, Cost of Pacemaker, Angioplasty Stents, Heart Prosthetic Valves and Joint Replacement Implants
- Day Care Benefits
- 30 days of Pre-Hospitalization Benefit and 60 days of Post-Hospitalization Benefit
- Emergency Ambulance Benefit of Rs 2000
- Donor Expense Benefit
-
- Additional Benefit – There are some benefits provided in some of the options
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Plan Type/Option
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Individual
|
Family Floater
|
|
Benefit
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Silver
|
Gold
|
Silver
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Gold
|
|
Maternity Benefit
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Not Covered
|
Not Covered
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Not Covered
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Covered
|
|
Hospital Cash Benefit
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Not Covered
|
Covered
|
Not Covered
|
Covered
|
|
Wellness Benefit
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Not Covered
|
Covered
|
Not Covered
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Covered
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Maternity Benefit -- is provided under Gold Option of Family Floater Plans, which covers:
- Actual Medical expenses incurred by the Life Insured towards hospitalization
- Medical Complications
- Delivery
- Medical Termination of Pregnancy
Subject to:
- Waiting Period of 3 years
- For the first 2 pregnancies only
- Expenses of the New Born Baby and the Vaccinations are not covered
- Pre-Hospitalization and Post-Hospitalization expenses are not covered
Hospital Cash Benefit – is payable for Gold Options in Individual as well as Family Floater Plans for a hospitalization of more than 24 hours, which depends on the Sum Assured
|
Policy Sum Assured
|
Rs 5 Lacs
|
Rs 7 Lacs
|
Rs 10 Lacs
|
|
Per Day Amount
|
Rs 500
|
Rs 700
|
Rs 1000
|
Wellness Benefit – The Gold Options for Individual as well as Family Floater Plans offer Wellness Health Check Up Vouchers in Network Hospitals equal to 0.1% of the Sum Assured which needs to be utilized within 1 year of issue.
|
Policy Sum Assured
|
Rs 5 Lacs
|
Rs 7 Lacs
|
Rs 10 Lacs
|
|
Benefit Value per member
|
Rs 500
|
Rs 700
|
Rs 1000
|
Income Tax Benefit – Premium paid towards Critical Illness Benefit and Cancer Care Benefit is up to Rs. 15,000 are allowed as a deduction from the taxable income each year under section 80D and the remaining premium is eligible for a deduction from the taxable income each year under section 80C.
Eligibility in HDFC Life Health Assure Insurance Policy
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|
Minimum
|
Maximum
|
|
Policy Term (in years)
|
3 years Renewable
|
|
Premium Payment Term (in years)
|
Single
|
3
|
|
Entry Age of Life Insured (in years)
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18,
91 days for dependent children
|
70
|
|
Age at Maturity (in years)
|
-
|
65
|
|
Payment modes
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Yearly, Half-yearly, Quarterly, Monthly
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Additional Features and Benefits of HDFC Life Health Assure Plan
Riders- There are no additional riders available with this plan
Disclaimers in HDFC Life Health Assure Plan
- Maternity Benefit is available after a waiting period of 3 years
- There is Co-Pay of 20% in Non-Network Hospitals
- If the Room Rent is higher than the Eligible Room rent, then the entire bill will be pro-rated accordingly
- There is a 2 year waiting period for certain illnesses mentioned like Fistula, Hernia, Surgery of urinary stones, Skin Conditions, Varicose veins, etc.
You stop paying the premium - If the policy holder stops paying the premium, the insurance cover will cease and the policy will lapse. However it can be revived within 1 year from the first unpaid premium after fulfillment of certain terms and conditions and payment of due premiums and interest.
You want to surrender the policy – There are no Surrender Benefit in this plan.
You want a loan against your policy - There is no loan available under this plan.
