Uncertainties and unfortunate events in form of illnesses, injuries or accidents can catch you off guard and unprepared. The cost of medical treatments and recuperating only add pain to the injury by draining away your savings. And hospitalization for medical treatment costs a lot more these days than what they did a decade ago. Even a routine surgical procedure can easily cost up to a hundred thousand rupees. With ever-rising healthcare and hospitalization costs, exhausting the entire Sum Insured on your Health Insurance policy in a single incidence of hospitalization is very much possible today.
While medical emergencies do not strike frequently to most people, one cannot afford not to have a Health Insurance in India today. In fact, most of us have some or the other type of Health Insurance on us, almost by default. We have a Health Insurance through our employers, through our communities or we can have a Health Insurance simply on our own. We have a number of variants within Health Insurance products that cover our families as well as our extended families.
Despite a sustained rise in the medical inflation, the average ticket size of the Health Insurance policies has not kept up the pace, which is still around Rs 2-3lakh in India. This can cover a hospitalization cost of a small illness. But this may not be realistic enough to cover a major condition such as, say, a cardiac arrest. By design, basic Health Insurance products have an annual limit on Sum Insured, which means that a policyholder cannot claim more than the Sum Insured from his or her Health Insurance policy during a policy year. With medical treatment getting expensive every year, a Sum Insured of Rs 2 lakh can get fully exhausted in a single or couple of catastrophic losses in the policy year. Imagine a situation if one needs to get hospitalized after exhausting the entire sum insured during the same policy year.
HDFC ERGO General Insurance Company understands the changing dynamics of Indian healthcare market and your needs of a secure and healthy future that guarantees coverage in case of medical emergencies while befitting your budget well. In our continued endeavor to provide the most comprehensive forms of protection, we have introduced a plan that takes care of your rising Health Insurance requirements. Our new Health Suraksha Regain and enhanced cumulative bonus Plan acts as your companion in emergencies and provides a comprehensive medical insurance plan that offers coverage for in-patient treatment costs, pre-hospitalization and post-hospitalization expenses, and such other major expenses.
With HDFC ERGO Health Suraksha Regain plan, you can avail the additional benefits of automatic restoration of sum insured if the basic policy’s sum insuredalong with cumulative bonusis exhausted during a policy year. Under this plan, if the basic Sum Insured along with cumulative bonus is exhausted due to claims made and paid during the policy year, then a Regain Sum Insured (equal to 100% of the basic sum insured) is automatically available for the particular policy year.
The best part of the Health SurakshaRegain benefit is that the entire amount is restored automatically without any additional paperwork. The Regain benefit can be availed by paying just 5% additional premium to the basic Health Suraksha policy at the time of purchase.
We at HDFC ERGO continuously strive to serve our customers better by incorporating incremental benefits to our existing products at affordable cost to customers. The Regain is much more economical and beneficial to the policyholder in comparison to purchasing a new additional Health Insurance policy. Also any new policy comes with its own set of waiting periods and exclusions that will apply to the new policy. This may prove deficient as against a Regain benefit, which is an in-built feature in our product.
HDFC ERGO’s Health Suraksha Regain is an optimized health insurance plan at an affordable cost. You have an option to choose from Individual or Family Floater Health Insurance plans. The Regain plan offers financial security with no sub-limits on the hospital room rents, hospital charges, diseases and doctor fees. It plan comes with Sum Insureds of Rs 300000, Rs 400000, Rs 500000, Rs 750000 &Rs 1000000 and there is no limit of age at entry. The AYUSH cover is available without any sub-limits. Not just that, there is an enhanced cumulative bonus at 10% per claim free year up to 100% of Sum insured. Additionally, you can avail of tax benefit under section 80D, which is over and above the benefit under section 80C. And the claim procedures are absolutely hassle-free claim with least documentation and settlement times.
While choosing a health plan, customers need to account for the medical inflation which hovers around 15% on a yearly basis. Hence, customers would certainly need double layers of protection to safeguard against medical inflation. The medical care is becoming less invasive and more costly due to new technology. The cost of super-specialty equipment and robotics is also passed on to patients. Hence such comprehensive health covers providing added layer of protection is the need of the hour.