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HDFC ERGO Insurance Benefits
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HDFC ERGO is among the popular health insurance policy providers in India. It offers a diverse range of health insurance plans covering numerous individuals and households against health hazards. Opting for HDFC ERGO health insurance eliminates the financial burden you might face during a personal health crisis. Besides financial assistance, there are various other uses of HDFC ERGO health insurance policy. In this article, we will read about the various HDFC ERGO health insurance benefits you can get by paying your premium on time.
HDFC ERGO Health Insurance Benefits
It doesn’t matter whether you are a student, salaried man, pensioner, businessman, self-employed, or attached to other professions. You can get the benefits of an HDFC ERGO health insurance policy.
These are the important benefits of HDFC ERGO Health Insurance:
1. Pre and Post-Hospitalisation Coverage
There are more related costs associated with a medical emergency and its treatment. As a policyholder, you would want coverage for most of these expenses under your policy. This is why one of the major HDFC ERGO health insurance plan benefits is that it covers expenses up to 60 days before the hospital admission, along with coverage for 180 days after the official discharge from the hospital.
2. Coverage for Room Rent
One of the general benefits of HDFC ERGO health insurance is that apart from your treatment and medical costs, the hospital room rent will also be covered under this plan. You also choose the preferred hospital room based on your selected health insurance plan.
3. Cashless Medical Treatment
Medical emergencies and health-related complications can happen at any time with no prior warning. This can startle an individual in various ways, and getting the proper treatment comes out as priority in such situations. Hence allocating funds so that the treatment can start becomes a problem. But, as one of the important HDFC ERGO health insurance plan benefits, policyholders can feel assured and get quality cashless medical treatment offered by the company. HDFC ERGO has a massive range of network hospitals across the country, which is more than 13,000. Such a massive network of hospitals makes cashless treatment accessible to every HDFC ERGO health insurance policyholder. Policyholders can just visit one of these partnered hospitals to get medical care as HDFC ERGO pays for the treatment and associated medical costs, relieving them of any upfront payment liabilities. However, the facility is available up to the sum insured amount or the stuff for which the coverage applies.
4. Safety During Medical Inflation
As the prices of most living essentials have gone up these days, the average cost related to healthcare services has also increased. This makes covering the costs of medical procedures for yourself or your family members a bit of a challenge. But with the HDFC ERGO health insurance plan, you can stay safe during such situations. The HDFC ERGO health insurance policy comes in various variants, so you can choose the perfect plan that will cover you financially when receiving medical treatment without worrying about its expenses.
5. Tax Saving
One of the crucial HDFC ERGO health insurance plan benefits is that it saves taxes for its policyholders. You can get a limited tax liftoff according to Section 80D of the Income Tax Act, 1961, for premiums paid towards your HDFC ERGO health insurance policy. If you are under 60 years of age, the maximum deductible amount is INR 25,000 per year for health insurance premiums you pay for yourself, your spouse and your reliant children. The tax-deductible amount for individuals over 60 years of age is INR 50,000. You are also eligible for an additional INR 25,000 annual tax deduction for health policy premiums paid for your reliant parents and up to 50,000 if anyone is a senior citizen.
6. Free Health Check-ups
The best cure for medical complications is to prevent them from becoming chronic. This is why frequent medical health check-ups are recommended for everyone. As one of the important benefits of HDFC ERGO health insurance, you can get free health check-ups with your health insurance plan, where you can have your health condition assessed without needing to pay for the check-up costs.
7. Easy Claim Settlement
When talking about the major HDFC ERGO health insurance benefits, the easy and straightforward claim settlement procedure stands out as a vital one. When choosing HDFC ERGO health insurance, you can get your claims settled via any of the cashless and reimbursement methods. The claim settlement ratio or CSR of the company has been on the higher side in the past few years, which is very positive. You can check the CSR data on the official website of HDFC ERGO or the Insurance Regulatory and Development Authority of India (IRDAI). HDFC ERGO asserts settling 1 claim per minute*, and it has a very efficient claim settlement procedure. In the financial year 2019-20, the company settled 99.8% of its claims within three months, and only 0.2% of claims took more than the 3-month period to be settled.
8. Cumulative Bonus
If you select the HDFC ERGO health insurance policy, you can earn a cumulative bonus that helps enhance your policy’s total sum insured value. You can earn this cumulative bonus if you don’t file a health insurance claim. The insurer offers an increased sum insured value for the first claim-free year under the policy and the increased value grows for the following claim-free years. Check your plan details to know the exact hike in SI percentage.
The Bottom Line
There are numerous benefits of having a proper health care plan in modern times apart from its generally expected financial assistance. You can get quality professional healthcare, free health checkups, cashless treatment, reimbursement for medical bills, savings on annual tax, and a lot more as part of HDFC ERGO health insurance benefits. Thus, among the several offerings in the healthcare sector, HDFC ERGO health insurance comes out among the finest choices in the country. When taken early, HDFC ERGO health insurance would reduce your overall premium. So, there’s no point in delaying your decision to buy your preferred HDFC ERGO health insurance plan.
HDFC ERGO Insurance Benefits FAQs
1. Can I select my hospital room with the HDFC ERGO health insurance policy?
Yes, as one of the HDFC ERGO health insurance benefits, you can get your pick of hospital rooms, but you will have to refer to your plan for more details.
2. What are some of the crucial benefits of HDFC ERGO health insurance?
A few crucial HDFC ERGO health insurance plan benefits are:
- It keeps you covered in the time of medical inflation
- It covers the majority of medical costs
- It helps you to save on taxes
- It provides free health check-ups
- It helps raise your sum insured if you don’t claim in a policy year.
3. Do HDFC ERGO health insurance plans cover pre and post-hospitalisation costs?
Yes, pre and post-hospitalisation costs are covered under the HDFC ERGO health insurance plan. To get the exact details, do refer to the selected policy details.
4. Does the HDFC ERGO health insurance plan offer a no-claim bonus?
Yes, one of the vital benefits of HDFC ERGO health insurance is that you can get a no-claim bonus for every claim-free year with the policy.
5. Is it beneficial for students to have HDFC ERGO health insurance policy coverage?
There are multiple benefits of having an HDFC ERGO health insurance policy coverage; anyone can take advantage of these. Thus, it is highly recommended to have HDFC ERGO health insurance even if you are a student. You can ask your parents to include you in their family floater plan of HDFC ERGO. Your addition to the plan will increase the premium but will still be within control as major changes to the premium of a family floater policy depends on the age of the eldest member.
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