HDFC ERGO Optima Cash Insurance Plan

HDFC ERGO Optima Cash Insurance Plan - BimaBandhu

In a world where unforeseen health emergencies can disrupt the balance of our daily lives, having comprehensive insurance coverage becomes an imperative safeguard. Recognizing the gaps in conventional health plans, HDFC ERGO General Insurance Company introduces the Optima Cash Insurance Plan as a solution designed to address the financial challenges arising from sudden hospitalization.

The Optima Cash Insurance Plan stands out by offering more than just coverage for hospital expenses. Not only does it cover hospitalization costs but also steps in to alleviate additional burdens such as travel and accommodation expenses, healthcare assistance, and the day-to-day requirements that often accompany medical crises. The company recognised that conventional health plans may fall short in providing the comprehensive support needed during challenging times. The absence of coverage for ancillary expenses makes this insurance plan a crucial addition to your financial safety net.

In this guide, we will cover the intricacies of the HDFC ERGO Optima Cash Insurance Plan to help you understand its unique features and benefits.

HDFC ERGO Optima Cash Insurance Plan: Key Benefits

  • Sum Insured: Ranging from Rs. 500 to Rs. 5000
  • Policy Tenure: Either one or two years
  • Network Hospitals: Over 12,000 to provide a wide range of healthcare facilities across the country when needed
  • Pre-Policy Medical Check-up: Not required 
  • Pre-Existing Disease Waiting Period: Four years
  • Specific Disease Waiting Period: Two years 
  • Initial Waiting Period: 30 days 

Also Read: All About HDFC ERGO Health Insurance

HDFC ERGO Optima Cash: Benefits

  • Childbirth Benefit

In the event of childbirth for the insured or their dependents, a lump sum amount equal to twice the daily cash reserve for maternity is provided. This benefit becomes accessible after a waiting period of 2 years, with the payout occurring twice within the lifetime of the insured individual.

  • Tax Benefits

Policyholders stand to gain tax benefits under Section 80D of the Income Tax Act each time they pay the premium for the HDFC ERGO Optima Cash Insurance Plan.

  • Family Rebates

The Plan also offers discount options based on the policy purchase method, particularly with regard to family coverage (for two or more family members).

Inclusions of HDFC ERGO Optima Cash Insurance Plan

  • Daily cash benefits are extended for both regular and ICU hospitalization, commencing after 24 hours of admission. For ICU admissions, the daily cash benefit is provided for up to 15 days annually upon policy renewal.
  • Accident hospital cash is available for 15 days within the policy year.
  • Policyholders undergoing daycare procedures are eligible for 50% of the total daily cash amount. This benefit is applicable for a maximum of six days, catering to procedures not requiring a 24-hour hospital stay.
  • In the unfortunate event of the insured and their dependents being involved in an accident simultaneously, they receive double the daily cash amount (as per policy terms).
  • For insured minors below 12 years admitted to the hospital for over 72 hours, daily cash benefits are provided. This benefit is applicable alongside sickness or accident cash benefits, capped at 30 days within the policy duration.

HDFC ERGO Optima Cash: Exclusions

  • Treatment necessitated by war, invasion, civil commotion, or any similar actions 
  • Injuries resulting from self-injury or participation in hazardous sports activities 
  • Treatment for substance abuse or alcoholism 
  • Procedures related to weight loss or bariatric surgery for non-medical reasons 
  • Cosmetic procedures performed solely for aesthetic purposes 
  • Treatment for general debility or exhaustion 
  • Expenses related to assisted reproduction methods 
  • Dental treatment or surgery expenses unless specified otherwise in the policy terms
  • Expenses incurred for unproven or experimental treatments 
  • Diagnostic expenses not directly related to the current diagnosis 
  • Expenses related to mandatory bed rest 
  • Treatment for congenital diseases or health issues 

Understanding these inclusions and exclusions can empower policyholders to make informed decisions regarding their healthcare needs and ensures alignment between expectations and coverage provisions under the HDFC ERGO Optima Cash Insurance policy.

Recommended Read: All About HDFC ERGO my:Credit Comprehensive Suraksha Insurance Plan

HDFC ERGO Optima Cash Insurance Plan Eligibility Criteria

  • Minimum Entry Age: Not Applicable (NA) for adults, 91 days for child
  • Maximum Entry Age: 65 years for adults, 5 years for a child
  • Coverage Type: Individual 
  • Renewability: Lifelong 


Is the HDFC ERGO Optima Cash Insurance Plan a good choice?

HDFC ERGO Optima Cash Insurance plan can be an excellent health insurance option. It provides daily cash benefits during unexpected hospitalizations, covering not just medical expenses but also auxiliary costs like food, travel, and accommodation for attendants. The plan’s simplicity is noteworthy – minimal paperwork, no pre-policy check-ups, and no requirement to submit medical bills. For more details, check the policy document.

Can I transfer my HDFC ERGO Optima Cash Policy to another insurance provider?

You have the option to port your insurance to a different provider by submitting an application within 45 to 60 days of policy purchase. An essential condition is that the existing policy must have been renewed without any lapses.

How long is the grace period for renewing the HDFC ERGO Optima Cash Policy?

The policy offers policyholders a 15-day grace period to renew their insurance coverage. This provides a buffer period beyond the expiration date to ensure uninterrupted protection.

Is maternity covered under the HDFC ERGO Optima Cash Insurance Plan?

The HDFC ERGO Optima Cash Insurance Plan includes a childbirth benefit. If the insured or their dependent experiences childbirth, they are entitled to a lump sum amount equal to twice the daily cash reserve for maternity. This benefit becomes accessible after a waiting period of 2 years and can be claimed twice within the insured individual’s lifetime.

Can I avail the HDFC ERGO Optima Cash benefits for my child’s hospitalization?

Yes, the HDFC ERGO Optima Cash Insurance Plan can provide daily cash benefits for insured minors below 12 years old, admitted into the hospital for more than 72 hours. This additional benefit ensures financial support for your child’s healthcare needs, covering expenses beyond the standard sickness or accident cash benefits. 

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