Health Insurance 840 views January 12, 2021

Looking for a Health Insurance Plan that can fund your premium using your investment in the plan itself? Well, HDFC Ergo Health Wallet Insurance Plan could ensure the same. This plan can be a perfect solution to all your healthcare problems in a comprehensive manner. Individuals can enjoy Reserve Benefit, Restore Benefit, Multiplier Benefit, Recovery Benefit, Switch Option (Waiver of Deductible), Ambulance Cover Benefits, etc.

Want to know in detail about these benefits? Here, we will discuss the same along with some other prominent aspects of the HDFC Ergo Health Wallet Insurance Plan. Read on to know more!

Health Insurance

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Reasons to Choose HDFC ERGO Health Wallet Insurance Plan

Every policy comes with a few exciting features that make individuals opt for the same. The same goes with HDFC ERGO Health Wallet Insurance Plan, a comprehensive plan that provides you the much-needed flexibility. We are showing some of the key features of this plan from HDFC Ergo so that you can make your decision. Have a look!

  1. HDFC ERGO Health Wallet Insurance Plan comes with the option of ‘Sum Insured Restore’ by which you can restore the sum insured automatically upon exhausting the base sum insured and multiplier benefit (if any) during the policy period.
  2. Health Wallet Plan from HDFC Ergo comes with Reserve Benefit that not only covers your present but also your future medical expenses. Reserve Benefit is the unused amount that gets carried forward to the next policy year. The best part is that the amount also earns you a 6% bonus at the time of your policy renewal. After 5 continuous renewals, you can pay up to 50% of your premium from the accumulated reserve benefit. You can use the reserve benefit as per your wishes.
  3. The Multiplier Benefit mentioned in the last point ensures your basic sum insured will increase by 50% at the time of renewal if you don’t make any claim during a policy year. The best part hasn’t come yet! If you don’t make a claim even in the second year of your policy, your sum insured amount will double as it will increase by another 50%.
  4. This plan also takes care of yours while recovering from any illness. With the recovery benefit, you will get a lump sum amount up to INR 10,000 in case your hospitalization exceeds 10 days.
  5. Individuals can also take care of their health with a preventive health checkup at renewal. This does not get affected by the claims made in a policy year. Do remember that the eligibility for this depends on the Reserve Benefit Sum Insured.
  6. You can enjoy tax benefits on the premiums paid towards your Health Wallet Plan under Section 80D of the Income Tax Act, 1961.

Sum Insured Options That You Can Choose from

The sum insured amount is something that people should always choose carefully. The reason: every individual has different needs, and HDFC Ergo understands the same. Keeping in mind the variation in the cost of treatment across different cities, HDFC Ergo Health Wallet Insurance Plan offers a wide range of sum insured options from which you can choose. These options are INR 3 lakh, INR 5 lakh, INR 10 lakh, INR 15 lakh, INR 20 lakh, INR 25 lakh and INR 50 lakh.

However, you should remember that you can enhance your sum insured at the time of renewal only. If you are enhancing your sum insured one grid up, you don’t need to provide any pre-medical screening.

What Does the HDFC Ergo Health Wallet Plan Cover?

It is important to know the coverage while opting for the HDFC Ergo Health Wallet Insurance Plan. We are showing the same below. Do check!

  1. Hospitalization expenses due to Illnesses and other injuries
  2. Pre- and Post-Hospitalization Expenses
  3. Coverage for Up to 182 Day care Procedures
  4. Emergency Road Ambulance Coverage up to INR 2,000 per hospitalization
  5. Organ Donor Expenses
  6. Lifelong Renewability Option
  7. Homecare Treatments Coverage
  8. AYUSH Benefits
  9. No Sub-limit on Room Rent
  10. Recovery Benefit with a lump sum amount of INR 10,000

What Does the Health Wallet Plan not Cover?

Now that you know the coverage of HDFC Ergo, you should know the list of exclusions under this plan. Let’s check out the same below.

  1. Expenses incurred on HIV or AIDS & other related diseases
  2. External Congenital Diseases, Cosmetic Surgery
  3. Abuse of intoxicants like Drugs and Alcohol
  4. Plastic Surgery or Cosmetic Surgery unless necessary
  5. Hospitalization due to war or an accident, biological weapon
  6. Pregnancy, Dental Treatment, external aids and appliances

Who Can Buy the HDFC Ergo Health Wallet Insurance Plan?

There are a few conditions that an individual needs to follow when choosing the HDFC Ergo Health Wallet Insurance Plan. We are showing them below. Have a look!

  1. Any individual aged between 91 days and 65 years can apply for this plan from HDFC Ergo.
  2. If either of their parents is covered under Health Wallet, children between 91 days to 5 years can also get coverage.
  3. You can apply for this plan for yourself or your family, including your spouse, dependent children and dependent parents or parents-in-law.

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