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How is the newly launched Optima Secure plan by HDFC Ergo - A Review

How is the newly launched Optima Secure plan by HDFC Ergo - A Review

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How is the newly launched Optima Secure plan by HDFC Ergo - A Review

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  1. How is the newly launched Optima Secure plan by HDFC Ergo? - A Review

  2. HDFC Optima Secure is a health insurance plan provided by HDFC Ergo, one of the leading health insurance companies in India. This plan is essentially a hospitalization cover that promises to pay the exact costs incurred during hospitalization, and expenses leading to and following the hospitalization. The product’s brochures and campaigns promise a 4X cover. The 4X cover basically comprises a 2X cover (Secure Benefit) from Day 1, the restoration benefit, and the No Claim Bonus put together. Let’s understand more about this plan, whether it really makes sense to buy this plan in comparison to HDFC’s existing plan - Optima Restore plan as well as other competing plans in the market. About the Insurer:  HDFC Ergo also known as HDFC Ergo General insurance company Ltd is a leading general insurance company in India. They offer general insurance products ranging across Motor, Health, Travel, Home, and Personal Accident insurance. They also offer products like Property, Marine, and liability insurance. Founded in 2002, HDFC Ergo is a joint venture between HDFC (Housing Development Finance Corporation) Limited and ERGO International AG. The company currently has 200+ branches across 170+ cities.  In addition to this plan, HDFC Ergo also provides other health insurance products such as Optima Restore, Medisure Super Top-Up plan, Critical Illness Insurance, etc.

  3. What you should know before you buy? You should not get swayed by enticing offers such as getting a 4X cover -  2X cover from Day-1, a 50% no-claim bonus, etc. First, the pricing of the policy factors its 2X covers. Second, remember that these benefits can be withdrawn by the company at any time in the future, based on their performance and profitability. The only feature that your insurer cannot reduce is the Sum Insured. So, it is important for you to get an adequate cover - and take the cover received through Secure, Restore, Plus (no-claim bonus) benefits for what they are - a bonus. Depending upon your lifestyle and medical history, premium loading (additional premium requested by the insurer to cover the risks due to your previous or current illnesses, and lifestyle habits such as smoking or drinking) might be applicable. Every insurer analyses your profile with a different set of parameters and metrics - and charges an additional premium based on that.  The premium of every health insurance policy might get revised every year. So, it is important that you prepare to pay higher premiums, as you grow older. 

  4. Thank You

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