HDFC Ergo
Health Wallet
Like most of the plans from the HDFC Ergo stable, the Health Wallet policy is a great pick, too. The plan is comprehensive and extends multiple features; however, one unique perk deserves a special mention - Reserve Benefit. Under this feature, you are covered for OPD services like diagnostic tests, vaccinations, pharmacy, dental expenses, special health foods & supplements and consultations with a medical practitioner, physiotherapist, dietician, speech therapist, and psychologist. The coverage cap varies as per the base sum insured. Unfortunately, this plan has a drawback - the in-built restoration perk is only available in case if you completely exhausted your cover amount and can be used to cover for the treatment of various ailments.
What's good here?
Reserve Benefit
The insurer provides coverage for OPD services like Diagnostic Tests, Vaccinations, Pharmacy, Dental expenses, Special health foods & supplements and Consultations with a Medical Practitioner, Physiotherapist, Dietician, Speech therapist, Psychologist upto defined limits based on the cover amount of the base plan. Additionally, the insurer provides a 6% bonus on the un-utilized Reserve ccover. If the policy is renewed for 5 continuous years, the insurer allows to pay the renewal premiums upto 50% from the collected Reserve Benefit.
The insurer provides coverage for OPD services like Diagnostic Tests, Vaccinations, Pharmacy, Dental expenses, Special health foods & supplements and Consultations with a Medical Practitioner, Physiotherapist, Dietician, Speech therapist, Psychologist upto defined limits based on the cover amount of the base plan. Additionally, the insurer provides a 6% bonus on the un-utilized Reserve ccover. If the policy is renewed for 5 continuous years, the insurer allows to pay the renewal premiums upto 50% from the collected Reserve Benefit.
You’ll never have to split the bill
The insurer will bear the entire cost of treatment (up to the sum insured). You won’t have to pay a single penny. Meaning this policy has no co-payment.
You always have full cover irrespective of the disease
No funny business here. If your insurer hasn’t explicitly stated they won’t cover a certain illness, you can claim the full amount up to the sum insured, irrespective of the disease you’re dealing with. Meaning this policy doesn't impose the dreaded disease wise sub-limits.
Day Care treatments covered
If you’re hospitalized for less than 24 hours in lieu of a minor procedure, then the insurer will cover these costs too. Think dialysis, chemotherapy or minor surgeries.
Free Health Checkups every year
If you’re planning on getting a full body checkup every year just to make sure you’re in fine working condition, the insurer will cover the costs.
Covers Alternative Medicine
Think of getting Ayurvedic, Homeopathic or other alternative treatments to cure an illness? Your insurer will cover you fully, up to the sum insured.
You can pick any room you like
Shared room, single room, deluxe room or any room that’s available. The insurer won’t nitpick on your choice of room since the policy has no restrictions on room rent.
Pre & Post hospitalization expenses covered
No worries if the doctor had to run a host of diagnostic tests before or after hospitalizing you. The insurer has your back. They will cover this amount in full for a pretty reasonable duration - 60 days before you are hospitalized and 90 days after discharge. This includes the cost of medication by the way.
Special Bonus for being healthy and not claiming insurance
Your sum insured increases by 50% each year, so long as you make no claims during this period. But before you get too ahead of yourself, do note that they’ll stop offering you the bonus when your sum insured increases by 100%. Also, the bonus amount will reduce at same rate each time you make a claim. But hey, it's still a bonus.
Full coverage even if you are forced to hospitalize at home
The insurer will bear the costs even if you are hospitalized at home due to a condition or the hospital running out of beds. In insurance lingo, they call this a policy with domiciliary cover.
Doctor consultations covered
In the event, you are feeling sick and you want to visit your family physician for a general checkup, the insurer will cover the costs, up to a certain limit.
What's okay here?
Reasonable waiting period for pre-existing diseases
If you’re already dealing with diabetes, cardiovascular problems or any such illnesses, the insurer will cover all costs arising out of these pre-existing problems after you wait for 3 years.
Some Restoration Benefit
Once you exhaust your entire cover, you will have 100% of the cover restored, if you are hospitalized one more time in a bid to treat a different complication. In the same year, by the way.
Add-ons
Aggregate Deductible
If you ever have to make a claim, then you’ll be expected to pay a sum before insurance company settles the claim. This amount is called the deductible. So if you want to buy a policy at a better price, you can opt to pay a higher deductible i.e. you can pay lower premiums by offering to pay a sum (a deductible) when a claim comes up.
Unlimited Restore
Unlimited Restore will restore your cover in full every time a claim is settled.
Frequently Asked Questions
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