A quick guide to health insurance plans by HDFC ERGO

The diseases that affect the younger generation have increased significantly. Add to that the rising medical expenses, and it becomes obvious why health insurance is so important. If  you ask any health insurance expert, they will suggest taking an insurance before you turn 30. This is because with progressing age, the annual premium for health insurance increases. Also, when you get a health insurance policy at an early age, you can avail various benefits including maternity coverage.

If you too are planning to take a health insurance before your next birthday, choose one of the many health insurance plans provided by HDFC ERGO. 

All the insurance plans provided by HDFC ERGO are basically divided into two categories:

  1. Indemnity Health Insurance Plans
  2. Lump Sum Health Insurance Plans

Indemnity Health Insurance Plans

Under this health insurance cover, the policyholder is compensated for the actual medical expenses regardless of the actual sum insured. However, in case the actual medical expenses are low, the cover amount can be utilized multiple times maximum up to the sum insured. The medical expenses in case of this plan cover doctor’s fees, hospitalization charges, pre-hospitalization and post-hospitalization expenses, operation, or organ transplantation surgery. Regular plans like individual health insurance, family health insurance, parents health insurance and senior citizen health insurance plans are all indemnity plans

Lump Sum Health Insurance Plans

In the lump-sum benefits plan, the entire sum insured is paid when the covered illness occurred. This amount is fixed and has nothing to do with the real-time medical expenses. For example, in the case of a critical illness benefit plan, the entire sum insured is paid when any of the listed critical illness is diagnosed. This insurance plan comes really handy in dealing with a critical illness such as cancer, kidney failure, etc. It can help with miscellaneous costs such as dietary supplements, rehabilitation, physiotherapy, medical investigation, medical devices and machines, any house modification required to sustain the patient, etc. In addition, the lump sum amount can be used to pay for any debt or loss of income that happened due to the critical illness.

Both indemnity and lump sum health insurance plans have their benefits and limitations. When it comes to premium amount, benefit plans have comparatively lower premium as compared to Indemnity plans. However, it is a good idea to take an Indemnity insurance plan for a patient with a history of illness.

How to buy HDFC ERGO Health Insurance Online

You can buy or renew health insurance online from HDFC ERGO. The process is easy, simple and very convenient.  Simply click here and select the policy or plan you wish to buy. Fill in the required details and make payment through secured payment modes.  You can renew health insurance plans by clicking here.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before going ahead with the sales.

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