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Home >Companies >News >HDFC ERGO launches Optima Secure indemnity-based health insurance policy

NEW DELHI : HDFC ERGO General Insurance announced the launch of Optima Secure, a new health indemnity insurance product that seeks to redefine the value customers can get from their insurance plan.

According to the HDFC ERGO, the product has the "secure, plus, protect, and restore benefits built-in", which combine to offer customers up to four times their sum insured at no additional charge, while guaranteeing coverage for listed non-medical expenses.

The policy offers four distinct features

Secure benefit: In this case, it doubles the insurance cover instantly and automatically on the purchase of a policy

Plus benefit: In this case, it increases the base coverage automatically by 50% after one year and to 100% after two years, even if there is a claim.

Restore benefit: If you run out of coverage, the policy will restore your base coverage up to 100%.

Protect benefit: It ensures zero deduction on consumables and listed non-medical expenses.

Here is how it works

Let us take Mr Sharma, a 35-year-old, married businessman from Delhi, for instance. He buys an Optima Secure policy of 10 lakh base cover for his family and pays a premium of 24,279 for it. The premium is inclusive of taxes and for a two-member family floater policy with age 35 years and 30 years.

Now, with the help of secure benefit, it instantly makes his 10 lakh base cover to 20 lakh at no extra cost.

With the help of plus benefit, When he renews the plan for 1 year, the plus benefit increases his base cover of 10 lakh by 50% and in second year by 100%, making it 15 lakh and 20 lakh respectively. Plus benefit and secure benefit together take the total coverage to 30 lakh.

Further, with the restore benefit, if any time Mr Sharma claims partial or total 10 lakh base cover, it gets 100% restored, making it 30 lakh + 10 lakh = 40 lakh cover. Also, during hospitalization, his non-medical expenses that add up to 10-20% of the total bill amount gets covered by the protect benefit.

This way, 10 lakh base cover eventually becomes 40 lakh. Hence, Mr Sharma eventually gets 4X coverage after 2 years.

Ravi Vishwanath, president–accident and health business, HDFC ERGO General Insurance, said, “The secure, plus, protect, and restore benefits work together to give customers four times the coverage. The product offers broad coverage from 5 lakh to 2 Crore. Customers can access cashless services at nearly 10,000 hospitals across the country. In Optima Secure, there is a coverage level and premium level available that is right for every individual and family."

The product also offers customers discounts of up to 50% (under the value buy option), should they choose to pay a small amount from their own pocket in the event of a claim.

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