HDFC Life Easy Health Plan

About HDFC Life Easy Health Plan

The HDFC Life Easy Health plan ensures your financial security is not affected in case you are hospitalized, undergo a surgical procedure, or are afflicted by a critical illness. The plan helps to lessen your financial burden when you are critically ill by providing a lump sum amount if you are hospitalized or are diagnosed with a critical illness.

Let’s understand this plan in brief before getting into its details.

How Does the Plan Work?

As per the plan, the individual has to choose any of the plan options mentioned here:

The cover will be available for a period of 5 years. The individual decides whether to go with the single-premium or the regular-premium mode based on his/her convenience.

Now, let's understand the additional benefits offered with this plan:

• Sum Insured: The policy gives an option to choose the sum insured at the inception of your policy. The sum insured options range from Rs 25,000 to Rs 5,00,000. The benefits will be payable as per the sum insured opted by the policyholder. The policy shall terminate on exhaustion of all benefit payments under the chosen plan option or completion of the policy term, whichever is earlier. The policyholder shall only pay premium(s) for the benefit(s) as long as the benefit(s) have not been exhausted.
• Daily Hospital Cash Benefit:

• In case of hospitalization due to an injury, disease or sickness, policyholder will receive 1% of the sum insured as the daily hospital cash benefit in case s/he has been admitted in a non-ICU room. If the policyholder is admitted in an ICU room, 2% of the sum insured will be payable.
• This benefit will be paid as a lump sum amount at end of the stay in the hospital for every completed as well as continuous hospitalization for over 24 hours due to injury, disease, or sickness. The benefit amount will be calculated as: daily hospital cash benefit * (number of days admitted – 1).
• The daily hospital cash benefit will be payable for a maximum of 20 days for a year in case the policyholder has been admitted in a non-ICU room and 10 days for a year in case it is an ICU room.
• Daily hospital cash benefit will be paid subject to a maximum of 60 days if the individual has been admitted in a non-ICU room and 30 days if the individual has been admitted in an ICU room for the entire term of the policy.
• The non-ICU and ICU benefits are independent and subject to their limits as mentioned earlier.
• In case the maximum benefit per policy term has been used up, the cover for daily hospital cash benefit would cease for the remaining term of the policy. However, other benefits, if chosen, would continue.
• A waiting period of 60 days from policy inception or reinstatement (whichever is later) would be applicable, except when such expenses are incurred for treatment of conditions caused due to accident.

• Surgical Benefit:

• This benefit will be payable only if the individual has undergone any of the 138 surgeries that are covered by this plan, as long as surgery has been done by a qualified surgeon and performed at a hospital due to sickness or an injury. The surgical procedures need to have been advised by an independent medical practitioner and the policy should be in force.
• In case the policyholder has to undergo a surgery during the tenure of the policy, the benefit that is payable will be decided based on the category of surgery as shown here:

Category 1 – For this category, the percentage of sum insured will be 100%

Category 2 – For this category, the percentage of sum insured will be 60%

Category 3 – For this category, the percentage of sum insured will be 40%

Category 4 – For this category, the percentage of sum insured will be 20%

• Policyholders are allowed to make multiple claims up to a maximum of 100% of sum insured during the tenure of the policy. Multiple claims for the same surgery cannot be made more than once, but multiple claims from the same category can be made.
• In case the complete sum insured has been used up, cover for surgical benefits will cease for the remaining term of the policy. Other benefits, however, will continue to exist.
• A waiting period of 60 days will be applicable from the date of policy inception or policy reinstatement, whichever is later, except when expenses are incurred for treatment of conditions due to an accident.

• Critical Illness Benefit:

• In case the policyholder has been diagnosed with any of the 18 critical illnesses covered in this plan, such as cancer, kidney failure requiring regular dialysis, first heart attack of specified severity, and others, a lump sum benefit that is equal to 100% of the sum insured will be paid, as long as the policyholder survives a period of 30 days following the diagnosis of any of the critical illness mentioned in the plan.
• 100% of the sum insured will be paid to the policyholder as long as s/he survives a period of 30 days from the date on which diagnosis was made. Once the benefit has been paid, the critical illness benefit will cease for the remainder of the tenure of the policy.
• Critical illness benefit will be paid only once during the entire tenure of the policy.
• In case diagnosis has been made within the policy tenure and the survival period exceeds beyond end of policy term, only valid claims arising due to such a diagnosis will be considered.
• A waiting period of 90 days for critical illness benefit is applicable, which is calculated from the date of policy inception or reinstatement of the cover, whichever occurs later, except when critical illness occurs due to an accident.

• Surrender Benefit:

• This policy can only be surrender completely. Partial surrender (that is, surrender of a few benefits) is not allowed.
• In case of regular-premium policies, no surrender benefit is applicable.
• In case of single-premium policies, the surrender benefit that is payable is calculated as follows:

70% * Single Premium x [1- (M/P)]

          Here, M is the policy month of surrender and P is policy term in months.

Why Should I Buy This Plan?

Along with the various benefits mentioned earlier, here are some more reasons to buy this plan:

• Tax Benefits: Premiums paid under the plan would be exempt from tax under Section 80(C) and the received benefits will be treated as per Section 10(10D).
• Free-look Period: The individual is advised to go through the policy thoroughly. If s/he finds any objections to the terms and conditions of the policy, s/he can cancel the policy within 15 days (free-look period) by giving a signed written notice to the insurance company stating the reasons for objection of the policy along with the original policy document. Only then will the individual be entitled to a refund of the premium paid, excluding some charges such as stamp duty charges.

Riders

No riders are available with this plan.

Who Should Buy This Plan?

The plan can be purchased by citizens of India with a minimum age of 18 years and maximum age of 65 years. By providing so many benefits, the plan proves itself an ideal health plan that will financially support you and your family at your time of need.