Health Insurance 3191 views January 9, 2021

Do you know there is an insurance plan that can help you in different situations? Well, HDFC ERGO Sarv Suraksha Plan is that thing. It is a comprehensive package insurance policy with which you can get cover for Loans, Mortgage Companies, financial complexities that might arise due to job loss, critical illness, accident, etc. Sounds good! But you would want to know more about the policy, such as its features, coverage benefits, policy term, the sum insured, eligibility criteria, etc.  Read on to know the same.

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Why Choose HDFC ERGO Sarv Suraksha Plan?

HDFC Sarv Suraksha Plan can be a one-stop solution for all your problems related to Health, Vehicles, Loss of Job, Loans, etc. But what are those benefits that can make you choose this plan from HDFC ERGO without any second thought? Well, we are showing some of the key features of the HDFC ERGO Sarv Suraksha Plan. Have a look!

  1. One of the best features of this plan is that it provides composite coverage in a single policy. So, when you opt for this policy, you don’t need to opt for several other policies. This alone will do the work for you!
  2. With this policy from HDFC ERGO, policyholders can fulfill their different requirements related to Banks, Non-Banking Financial Companies, and Mortgage Companies. That’s why this policy is a one-stop solution.
  3. One of the most exciting things about the Sarv Suraksha Plan is that individuals don’t need to undergo medical screening or health checkups before opting for the policy.
  4. There are a total of six coverage sections under this policy – Critical Illness Cover, Accidental Hospitalization Benefit, Personal Accident Coverage, Loss of Job Cover, Credit Shield Insurance Policy, Householder’s Cover, and Garage Cash Cover. All these cover sections can be structured independently or packaged as a whole according to your requirements.
  5. Other than these cover sections, you can also choose additional rider options to upgrade your overall protection, such as Burns, Broken Bones, Dependent Child Education Benefit, Parental Care Benefit, and Mobility Extension.
  6. You can enjoy Tax Benefits under Section 80D of the Income Tax Act, 1961. However, this will be only applicable to the Critical Illness Cover.
  7. In the case of a loan where more than one borrower is involved, only one borrower will get coverage. You will need to declare this in the Application or Proposal form at the time of policy inception.

What Will be the Coverage Period?

One of the important things that individuals want to know when choosing a Policy is the Coverage Period. In the case of the HDFC ERGO Sarv Suraksha Plan, the single policy can be issued for a total of 6 months up to a maximum of 5 years.

HDFC ERGO Sarv Suraksha Plan Coverage Benefits

You can enjoy the benefits under different sections of the HDFC ERGO Sarv Suraksha Plan. Each section provides different coverage benefits that you could check below.

  1. With Section 1 of Critical Illness, individuals can get coverage against illness, medical events, or surgery procedures whose first signs come after 90 days of the policy period with a waiting period of 30 days. There are a total of 10 diseases for which you can get coverage – Stroke, Cancer, Kidney Failure, Surgery of the Aorta, etc.
  2. With Section 2 of Personal Accident, individuals will get coverage against Death due to an accident, Permanent Total or Partial Disability due to an accident.
  3. With Section 3 of Accidental Hospitalization Benefits, your policy will pay for reasonable and customary hospitalization expenses due to accidental bodily injury during the policy period.
  4. With Section 4 of Loss of Job, your policy will pay a maximum of 3 EMIs towards his or her loan account or lesser if he or she gets reemployed earlier
  5. Section 5 of Credit Shield Insurance Policy ensures the payment of your outstanding loan balance in case something unfortunate like Death or Permanent Total Disability happens during the policy period.
  6. Section 6 of Household Cover includes benefits Coverage of Contents against Fire, Earthquake, storm, cyclone, theft, burglary, etc.
  7. With Section 7 of Garage Cash benefits, you will get a daily allowance of INR 500 per day for each continuous and completed 24 hours of workshop repairs up to a maximum of 7 days.

What are the Critical Illnesses Covered Under HDFC ERGO Sarv Suraksha Plan?

Critical illnesses covered under HDFC ERGO Sarv Suraksha Plan are –

  • First Heart Attack of specified severity
  • Open Chest CABG
  • Permanent symptoms resulting from stroke
  • Cancer of specified severity
  • Kidney failure requiring constant dialysis
  • Transplant of major organ/bone marrow
  • Multiple Sclerosis with sustained symptoms
  • Surgery of Aorta
  • Primary Pulmonary Arterial Hypertension
  • Permanently Paralyzed Limbs

Personal Accident Coverages

In case the insured face any bodily injury due to an accident during the policy period, the policy will pay the amount as applicable. The coverage will be provided in case of death, permanent total disability and permanent partial disability resulting from an accident. 

Coverage for Death – If the accidental bodily injury causes the death of the insured within 12 months from the date of accident, the company will pay the sum insured. In addition, the company will pay 2% of the sum insured or INR 5,000, whichever comes lower, for the transporting the remains of the insured from the place of death to the hospital/residence/cremation/burial ground.

Coverage for Permanent Total Disability – If the accident causes permanent total disability of the insured within 12 months of facing the bodily injury, the company will pay 125% of the sum insured. In case the insured had permanent total disability prior to the date of facing an accidental bodily injury, the coverage amount will reduce to the extent of the same.

Coverage for Permanent Partial Disability – If the insured faces permanent partial disability within 12 months of facing the accidental bodily injury, the company will pay the compensation as per the below table. 

Outcomes Due to Accidental Bodily InjuryScale of Compensation (As % of the Sum Insured)
Death100
Loss of sight on both eyes125
Loss of Both Feet125
Loss of Both Hands125
Loss of One Hand and One Foot125
Loss of One Eye One Hand125
Loss of One Eye One Foot125
Other Total Permanent Disablement100
An Arm at the Shoulder Joint70
An Arm Above the Elbow Joint65
An Arm Beneath the Elbow Joint60
A Hand at the Wrist55
A Thumb20
An Index Finger10
Any Other Finger5
A Leg Above Mid-thigh70
A Leg Upto Mid-thigh60
A Leg Upto Beneath the Knee50
A Leg Upto Mid-calf45
A Foot at the Ankle40
A Large Toe5
Any Other Toe2
Any Eye50
Hearing Loss on One Ear30
Hearing Loss on Both Ears75
Sense of Smell10
Sense of Taste5

What are the Sum Insured Options and Premium Amount?

When we talk about theHDFC ERGO premium, it depends on the Sum Insured and the policy term. On the other hand, the maximum sum insured amount will vary according to the section chosen by you. We are providing them in the below table. Have a look!

SectionCover SectionMaximum Sum Insured (In INR)
Section 1Critical illness15,00,000
Section 2Personal Accident75,00,000
Section 3Accidental Hospitalization10,00,000
Section 5Credit Shield75,00,000
Section 6Householders Cover15,00,000
Section 7Garage Cash500 per day up to a maximum of 7 days

Eligibility Criteria of HDFC ERGO Sarv Suraksha Plan

We are showing a few important conditions related to this policy from HDFC ERGO below. Check it!

  1. An individual must be aged between 18 years and 65 years to be covered under the policy or get benefits.
  2. Any loan borrower who has taken a loan from Banks, Finance Companies, Mortgage Companies can choose this plan.

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