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Health Insurance 6873 views December 13, 2019
HDFC ERGO Health Insurance provides tailormade health plans to deal with a health emergency. The plans offered by the company caters the need for individuals as well as family and can be broadly categorized into:
- Health Insurance Plans for Individuals
- Health Insurance Plan for Family – Family Floater
Of the many features available in HDFC ERGO Health Insurance, No Claim Bonus can be the standout one. In Apollo Minch Health Insurance, No claim bonus (NCB) is the additional benefit that is added in the sum insured for every claim-free year. It is a benefit that an insurer gives to the policyholder for zero claims.
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No Claim Bonus in HDFC ERGO Health Insurance Plan
Optima Restore Individual Plan, the best health plan offered by the company is loaded with many benefits like no claim bonus. No Claim Bonus is also termed as Multiplier benefit as an insured person gets the benefit of double of the sum insured. If an insured has not claimed in any year, the company increases the base sum insured by 50% at no extra cost. In fact, the same is continued for the claim-free second year as well, and here the sum insured is doubled which is 100%. Let’s understand the concept with an example:
Mr Bhattacharjee has bought Optima Restore Individual Plan with a sum insured of Rs 2 lakhs and he doesn’t claim anything in the 1st year, the sum insured increases to Rs 3 lakhs and in the second claim-free year, the sum insured increases to Rs 4 lakhs. This essentially means that at the end of the second claim free year, Mr Bhattacharjee will be paying for a 2-lakh plan but will enjoy the advantage of a 4-lakh plan.
HDFC ERGO Health Wallet Plan also has the benefit of no claim bonus named Multiplier Benefit as mentioned above. The sum insured increases by 50% while renewing the policy in case of a claim-free year. Additionally, the basic sum insured gets doubled in case there is a second claim-free year as well. The plan also provides a Reserve Benefit which means the unused reserve from all policy can be used to meet various medical expenses like diagnostic tests for outpatient, buying of health food supplements, consultation fees of doctors, etc.
Hence, from the above discussion, we can conclude that No Claim Bonus plays a very significant part in any health insurance plan. This gives the insured an additional benefit in his health plans which, in turn, can lessen the financial burden to some extent.
NCB Offers of HDFC ERGO Health Insurance Plans
The NCB offers of HDFC ERGO Health Insurance Plans are based on the basic sum insured. The table below shows the NCB offers of its different health insurance plans.
| Policy Name | NCB Offers |
|---|---|
| Maxima | 10% each year after a claim-free year, up to 50% |
| Easy Health Family | 10% each year after a claim-free year, up to 100% |
| Optima Senior | NCB is based on the company underwriting |
| Optima Restore | 100% no claim bonus after 2 claim-free years |
| Arogya Sanjeevani Policy | 5% for each claim-free year, up to 50% of the sum insured |
| HDFC ERGO my:health Suraksha | 10% or 25% of the Basic Sum Insured under the policy in the expiring year, up to 100% or 200% |
| Health On Plan | Your sum insured will be increased by 50% of the basic sum insured after each claim-free year, up to 100% |
Why HDFC ERGO Insurance Plans?
The reasons can be categorized as below:
- 100% No Claim Bonus can be obtained.
- Extensive sum insured choices available
- Guard against health disaster
- Presence of Cashless facility
- Access to a widespread network of hospitals
- Helpline
- The effective and easy claim process
- Stay Active benefit
- Tax benefits under the Income Tax Act
- Health and Wellness Portal
- Effective, faster and clear customer service
- Restoration Benefit
HDFC ERGO Health Insurance Accomplishments
HDFC ERGO Health Insurance has established itself in a big way thereby earning many constructive and helpful evaluations. The company is ranked as the company with the best health insurance plans by India’s reputed journals and newspapers namely “The Hindustan Times “and “The Economic Times”.