HDFC ERGO General Insurance announced the launch of Optima Secure, providing 4X coverage at no additional cost, thereby redefining the value you get from health insurance.
Here is the review of HDFC Ergo Optima Secure and its distinct features which cater to the needs of common people.
Age limit, coverage and policy options: You can buy this insurance policy until you’re 65 years old. There’s no age when the coverage stops. Families and individuals can choose coverage from ₹5 lakhs to ₹2 crore, with different options available. This policy can be issued for a period of 1,2 or even 3 years.
Secure Benefit: Secure benefit is a special feature of Optima Secure. When you get insurance, it automatically gives you twice the coverage you bought. You don’t have to do anything extra or pay more. It’s like getting double protection from the start, without any fuss.
Plus Benefit: Another good thing is the “Plus Benefit.” This helps your insurance coverage get bigger by 50% after 1 year and 100% after 2 years, even if you make a claim. This means you don’t need to be concerned about getting a full bonus or a smaller one if you have to make a claim.
Restore Benefit: With this benefit, if you make a claim, either for a part or the whole amount, at any point in the year, your insurance coverage will be renewed back to its full amount without you having to pay extra.
Protect Benefit: Optima Secure’s Protect Benefit ensures that if you have to stay in the hospital, it covers the cost of things like gloves, masks, and nebulizer kits – items you use but aren’t medicine. This benefit comes with the plan automatically, without extra cost. And the best part: it doesn’t reduce any money from these non-medical expenses.
Let’s understand all the above benefits and how they work together to give 4X coverage than the chosen cover.
Mr. Sharma, a 35-year-old married businessman from Mumbai buys an Optima Secure policy of ₹10 lakhs base cover for his family. He pays a premium of ₹24,279 for it.
In Secure benefit, it will instantly make his ₹10 lakhs base cover to ₹20 lakhs, at no extra cost.
In Plus Benefit, when he renews the plan for 1 year, Plus Benefit increases his base cover of ₹10 lakhs by 50% and in 2nd year by 100%, making it ₹15 lakhs and ₹20 lakhs respectively. Plus Benefit and Secure Benefit together take the total coverage to ₹30 lakhs.
In restore benefit, any time Mr. Sharma claims partial or total ₹10 lakhs base cover, it gets 100% restored, making it 30+10 = ₹40 lakhs.
In protect benefit, during hospitalisation, his non-medical expenses that add up to 10-20% of the total bill amount also get covered by protect benefit.
So, with ₹10 lakhs base cover eventually becoming ₹40 lakhs, Mr. Sharma gets 4X coverage after 2 years.
No sub limits: This policy offers the flexibility to choose any room without rent capping, whether it’s single, or deluxe. The condition is sum insured less than ₹50 lakhs, up to single AC private room and for sum insured ₹50 lakhs and above, all room types covered. Additionally, there’s no capping based on the disease. This means the insurer covers the full treatment cost (up to the sum insured), regardless of the ailment, eliminating any out-of-pocket expenses on your part.
Pre and post-hospitalisation medical expenses: This policy provides comprehensive coverage for both pre and post-hospitalization medical expenses. It encompasses expenses incurred during a span of 60 days prior to hospital admission and continues to provide coverage for 180 days following discharge from the hospital.
Daycare treatment coverage: With medical progress, certain procedures once necessitating prolonged hospitalisation are now accomplished within 24 hours. The HDFC ERGO Optima Secure Plan ensures comprehensive coverage for all such daycare treatments, with expenses covered up to the sum insured, without any limitations.
No claim bonus: Insurance companies offer a No Claim Bonus if no claims are filed during the policy year. However, HDFC ERGO Optima Secure rewards you with a bonus of 50% for every claim-free irrespective of the claims made – up to 100% of the sum insured. And, the accumulated bonus will not reduce even if a claim is filed during the policy year.
Deductible: A deductible refers to an initial sum that you are required to personally cover prior to your health insurance policy taking effect and covering your medical costs. The HDFC ERGO Optima Secure plan offers a choice of optional deductible thresholds, including ₹25,000, ₹50,000, and ₹1 lakh.
In conclusion, HDFC ERGO Optima Secure is a special health plan that helps with your medical bills. It gives you a lot of coverage and benefits. It’s different because it instantly doubles the money it will pay for your medical expenses from the start. It also helps with smaller costs like medicines and covers dental expenses too. But, this good coverage costs a bit more money than some other plans.
Rohit Gyanchandani is Managing Director at Nandi Nivesh Private Limited
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Updated: 19 Oct 2023, 09:01 AM IST