Healthwise Hdfc

7/29/2019 Healthwise Hdfc

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HDFC Chubb General Insurance Company Limited

Launches



About us - HDFC Chubb General Insurance

• Joint venture with Chubb Corporation, USA - a leading property & casualty insurer

– with $ 38 Billion in assets;

– one of the largest Property & Casualty insurance company;

– the 3rd most respected financial company by the Financial Times

• Paid up capital at Rs 120 Crores with HDFC holding 74% &Chubb Corporation the remaining 26%

• HDFC & Chubb collectively bring an experience of over a 100 years inthe financial sector



Healthwise – Hospitalization & Injury

• Unique combination of In-hospital medical expenses & Accidental injury benefits (Accidental Death, Permanent Disability & Broken Bones)

• Offers 4 options from a minimum coverage of Rs. 2 Lakhs to a maximum of Rs. 4 Lakhs on a Self plan

• 3 options for a Family plans ranging from Rs 1 Lakh to a maximum of

Rs 3 Lakhs (individual coverage amounts – Self & Spouse)

• Pays for hospitalisation due to sickness or accident up to the sum insuredselected

• The cover provided is applicable 24 hours a day, 7 day a week, 365 / 366 days of

the year

• The individual stands protected by this plan in India (Only Sickness) and any other location worldwide (Accidental Death, Permanent Disability & BrokenBones)




• Key benefits of the plan -

– Emergency Medical Expenses (In hospital medical expenses) - Reimbursescosts incurred as a result of hospitalization for more than 24 hrs due toSickness and Accident

– Hospital Cash - Provides a daily benefit of Rs. 500 up to a maximum of 30days in case of hospitalization due to an sickness or accident

– Accidental Death - Covers the insured in case of loss of life in an accident

up to 100 % of the Sum Insured




Key benefits of the plan (cont’d)

– Permanent Disability - Pays a benefit up to the maximum Sum Insured if the insured is permanently disabled due to an accident.

– Broken Bones - Pays up to the maximum Sum Insured in the event of bodily injury resulting in broken bones due to an accident



Healthwise – Benefit details

In hospital medical expenses + Hospital Cash

&

Accidental Injury




Emergency Medical Expenses – Benefit details

• Pays for hospitalisation charges incurred due to an accident or sickness up to the Suminsured e.g. – Diagnostics related to hospitalisation – Room charges (Semi-private), Surgery, Medication, etc

• Expenses incurred on pre -existing disease is not covered under this plan• Does not pay for cosmetic surgery, dental treatment, spectacles, contact lenses,

• Sickness related claims shall not be entertained for the first 30 days from theinception of the policy

• Expenses incurred on disease such as cataract, piles, sinusitis, arthritis, etc is excluded

during the first two years of the policy

• AIDS, Pregnancy, Miscarriage / Abortion is excluded under the policy

• Alternative therapy – Ayurvedic, Homeopathic, etc is not covered under policy




Sum Insured

Self 18-35 Yrs &

Spouse 18-35 Yrs

Self 18-35 Yrs &

Spouse 36-45 Yrs

Self 36-45 Yrs &

Spouse 18-35 Yrs

Self 36-45 Yrs &

Spouse 36-45 Yrs

1 Lakh 5,955 7,100 7,100 8,300

(4,469) (5,609) (5,609) (6,796) 2 Lakhs 9,110 10,929 10,929 12,863

(7,619) (9,437) (9,437) (11,358)

3 Lakhs 12,244 14,756 14,756 17,424

(10,754) (13,266) (13,266) (15,919)

Self + Spouse

Sum Insured 18-35 Yrs 36-45 Yrs

2 Lakhs 4,974 6,962

(4,160) (6,148)

2.5 Lakhs 5,831 8,198

(5,016) (7,384)

3 Lakhs 6,686 9,432

(5,872) (8,619) 4 Lakhs 8,398 11,902

(7,583) (11,088)

Self Figures in brackets indicates Tax benefit amounts underSec 80 D

Coverage under Self & Spouseare individual sum insured

values under the plan

Premium Table




Self Plan - Benefits

• Self & Spouse Plan - Benefits

Sum Insured 2 Lakhs 2.5 Lakhs 3 Lakhs 4 Lakhs

In Hospital Medical Expenses 200,000 250,000 300,000 400,000

Hospital Cash 500/day 500/day 500/day 500/day

Broken Bones 100,000 100,000 100,000 100,000

Accidental Death 200,000 200,000 200,000 200,000

Permanent Disability 200,000 200,000 200,000 200,000

Sum Insured 1 Lakh 2 Lakhs 3 Lakhs

In Hospital Medical Expenses 100,000 200,000 300,000

Hospital Cash 500/day 500/day 500/day

Broken Bones 100,000 100,000 100,000

Accidental Death 200,000 200,000 200,000 Permanent Disability 200,000 200,000 200,000

10% deductible on In hospital medical expenses & 3 day time deductible forHospital Cash applicable on all plans

Self Plan - Benefits

• Self & Spouse Plan - Benefits




Policy Features -

• Policy renewal & premium – Annual

• Pay mode - Standing instructions/ Direct debit / Credit Card / Chequedependent on the channel of distribution

• 10% discount on premium for Self & Spouse plans

• Tax benefit under sec 80 D on the premiums paid for Emergency MedicalExpense and Hospital Cash (Amounts to approximately 90% of the premiumpaid)

• Age criteria – entry age is between 18 years to 45 years and can be renewed till65 years

• Hassle free process – No medical test or history required



Why purchase Healthwise ?

• Provides the family with additional financial security

• Investments need not be broken to meet hospitalization expenses

• Extends coverage for accidental injury too besides treatment of such injuries if admitted to hospital for over 24 hours

• No medical test required - Pre-approved product

• No documentation required

• Broken Bones benefit given over and above the Hospitalization benefit

• Tax benefits under Section 80 D for the Emergency Medical Expense andHospital cash

• It’s an inexpensive option to secure oneself and immediate family



Why have the Hospitalisation benefit ?

Some Facts

– 30 % of the hospitalisation expenses are managed throughborrowings and asset sale

– Declining trend in personal savings and increasing life-style relateddiseases / sickness

– A large percentage of the upper income would utilise their pastsaving to cover health related expenses

– Only 6% have the company/ insurance cover

Source Cehat India Internet



Why the Personal Accident benefit?

• Don’t need it - very few people die of an accident

– Accidents do happen! In India there is an accidental death

every 2 minutes, resulting in over 2.15 Lakh families losing an

earning member and less than 6000 die due to a heart attack

– More than 80,000 people are killed on Indian roads every year,

disability figures are 10x

– Another 1.2 million are injured.

– While India has one of the lowest vehicle penetration ratios, its ratio

of road fatalities, at 14 per 10,000 vehicles, is among the highest




• Permanent Total Disability - Table of benefits

The Disablement

Compensation Expressed as a

Percentage of Total Sum Insured

1) Permanent Total Disablement 100%

2) Permanent and incurable insanity 100%

3) Permanent Total Loss of two Limbs 100%

4) Permanent Total Loss of Sight in both eyes 100%

5) Permanent Total Loss of Sight of one eye and one Limb 100%

6) Permanent Total Loss of Speech 100%

7) Complete removal of the lower jaw 100%

8) Permanent Total Loss of Mastication 100%

9) Permanent Total Loss of the central nervous system or the thorax and all

abdominal organs resulting in the complete inability to engage in any job and

the inability to carry out Daily Activities essential to life without full time

assistance 100%10) Permanent Total Loss of Hearing in both ears 75%

11) Permanent Total Loss of one Limb 50%

12) Permanent Total Loss of Sight of one eye 50%




• Broken Bones - Table of benefitsFracture % of Sum Insured

1) Fractures of the Skull:

a) Compound fracture with damage to the brain tissue 100

b) Compound fracture without damage to the brain tissue 75

c) All other fractures 50

2) Fractures of hip or pelvis (excluding thigh or coccyx):

a) Multiple fractures (at least one compound & one complete) 100

b) All other compound fractures 50c) Multiple fractures, at least one complete 30

d) All other fractures 20

3) Fracture of thigh or heel:


b) All other compound fractures 40

c) Multiple fractures, at least one complete 30


4) Fracture of Lower Leg, Clavicle, Ankle, Elbow, Upper or Lower

Arm (including wrist, but excluding Colles-type fracture):





5) Fractures of Lower Jaw:








• Broken Bones - Table of benefits (cont’d) Fracture % of Sum Insured

6) Fractures of Shoulder Blade, Kneecap, Sternum, Hand

(excluding fingers and wrist), Foot (excluding toes and heel):

a) All compound fractures 20

b) All other fractures 10

7) Colles type fracture to the Lower Arm:a) Compound 20

b) Other 10

8) Fractures of Spinal Column (Vertebrae but excluding coccyx):

a) All compression fractures 20

b) All spinous, transverse process or pedicle fractures 20

c) All other vertebral fractures 10

9) Fractures of Rib or Ribs, Cheekbone, Coccyx, Upper Jaw, Nose,Toe and toes, finger or fingers:







Recap on product

• Benefits – Emergency medical expenses ( Up to the Sum Insured )

Broken Bones (up to the Sum Insured), Hospital Cash (Rs.500 per day ), AD (100% of Sum Insured), PTD (up to 100% of Sum Insured)

– Annual policy with approximately 10% discount on Self and Spouse option

• Sum Insured

– 4 Self plans - Sum Insured Rs. 2 Lakhs to Rs 4 Lakhs

– 3 Self & Spouse Plans – Sum Insured Rs. 1 Lakhs to Rs 3 Lakhs

– Premiums ranging from Rs. 4,974 to Rs.17,424

• Payment methods

– Standing Instruction / Direct Debit (HDFC Bank Accounts ) / Credit Card/ Cheque – dependent on channel of distribution



Mandatory requirements on proposal form

• Name, address & contact number

• Date of birth & sex

• Beneficiary or nominee details – Name & relationship

• Selection of plan - Sum Insured

• Payment mode – if SI / DD then correct HDFC Bank Account

Number

• Declaration on the proposal form about other Personal Accident

policies bought from HDFC Chubb and other insurers



Mandatory requirements on proposal form - Cont

• Occupation details compulsory

• Signature on proposal form - MOST IMPORTANT

• Bank Account number

• Income criteria (Declaration based) –

Sum Insured Income Criteria

2 Lakh 1 Lakh

2.5 Lakhs 1.25 Lakhs

3 Lakhs 1.75 Lakhs

4 Lakhs 2 Lakhs



Healthwise

• Negative List:

– Individuals with pre-existing diseases such as Cancer, AIDS, etc.

– Armed Forces (Army / Navy / Air Force)

– Para-military Forces (BSF, RAF, CRPF, etc)

– Professional Sports Persons

– Hazardous Sports (Bungee jumping, Jet-Skiing, Para-gliding, etc)

– Merchant Navy

– Airline Pilots

– Off-shore Workers (Oil rigs / Drilling platforms)



Claims

• HDFC Chubb endeavours to provide and set standards for any insurance settlement or claim

• These standards being based on our value systems as an organization, which are -

– Honesty – Integrity

– Fairness

– Transparency

– Commitment

• This in turn supported by Chubb’s philosophy the world over toprovide a fair, just and timely settlement of all claims



Claims

• HDFC Chubb provides a call-center to address any claim related calls

• This call-center is not limited to the geographic locations of ouroperations - All India coverage supported by a toll-free line1 800 226 226

• In the event of having to notify a claim, telephone calls shall beaddressed by trained personnel and guidance will be provided

• All claims registered with HDFC Chubb shall be settled in 7 working days from the date of receiving complete documentation



Thank you

Healthwise Hdfc

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