HDFC Life strengthens its health portfolio with launch of Health Assure Plan

HDFC Life strengthens its health portfolio with launch of Health Assure Plan

-          Long-term protection to customers while offering a 50 per cent no claim bonus

-          Entry up-to 70 years and with no exit age providing assurance of a lifelong renewability

-          Service in over 4,500 hospitals for cashless claims.

-          The plan is also available for online purchase at www.hdfclife.com

Key features of HDFC Life Health Assure Plan:

• Premium Guarantee for 3 years:  Premium remains same even if one makes a claim
• Multiplier Benefit: Cover doubles after 2 claim free years at no extra premium
• Guaranteed Lifetime Renewability:  If premiums are paid on time and the policy continues without any break in cover, then the plan offers guaranteed renewability for life time.
• Cashless hospitalization: Available at more than 4500 network hospitals
• Online purchase:  The plan is also available for online purchase

Mumbai:  HDFC Life, India’s leading life insurance company, announced the launch of its new health insurance product — HDFC Life Health Assure Plan, aimed at providing a comprehensive health cover. The plan offers reimbursement of medical expenses incurred in a hospital and is available in two variants — Gold Plan and Silver Plan. The plan allows coverage for families on floater cover basis, covers 200 day care procedures, Pre and Post Hospitalization Benefit and offers a host of other benefits.

Commenting on the launch, Amitabh Chaudhry, MD & CEO, HDFC Life said, “Customer centric product innovation has been our prime focus at HDFC Life. In line with our philosophy, we are proud to announce the launch of Health Assure — a health insurance plan that will provide long term protection to our customers while offering a 50 per cent no claim bonus.” 

“Health Insurance is growing at a CAGR of more than 30% and with current total market size of about Rs. 14,000 crores. This market is expected to show robust growth and is projected to be more than Rs. 30,000 crores in size over the next 5 years. I firmly believe that these are conservative estimates for India considering the growing economy, rising income levels, increased health awareness and easier access to healthcare services. HDFC Life has been offering its services in health insurance segment for a long time and offers cover for surgical care and critical illnesses. The addition of the Health Assure Plan will strengthen HDFC Life’s product offerings in this segment,” he added.

HDFC Life Health Assure plan’s Gold Variant offers comprehensive mediclaim cover with added benefits of Hospital Cash, Wellness and Maternity Benefit (for family cover). The plan comes with a 3-year premium guarantee, which means that the premium remains same even if you claim. The Multiplier benefit increases the Annual Limit by 50% after one claim free year and doubles the annual limit after two consecutive claim free years.  The plan comes with an entry up to 70 years and with no exit age providing assurance of a lifelong renewability. Customers have the flexibility to customize the plan, and can be opted as an Individual or Family floater. One may cover spouse, children, both parents and parents- in- law under family floater option. HDFC Life, through TPA has a tie-up with over 4,500 hospitals for cashless claims.