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 in
the 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 insured
selected
• 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 & Broken
Bones)
Healthwise – Hospitalization & Injury
• Key benefits of the plan -
– Emergency Medical Expenses (In hospital medical expenses) - Reimburses
costs incurred as a result of hospitalization for more than 24 hrs due to
Sickness and Accident
– Hospital Cash - Provides a daily benefit of Rs. 500 up to a maximum of 30
days 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
Healthwise – Hospitalization & Injury
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
Healthwise – Hospitalization & Injury
Emergency Medical Expenses – Benefit details
• Pays for hospitalisation charges incurred due to an accident or sickness up to the Sum
insured 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 the
inception 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
Healthwise – Hospitalization & Injury
Premium Table
Self Figures in brackets indicates
Sum Insured 18-35 Yrs 36-45 Yrs Tax benefit amounts under
2 Lakhs 4,974 6,962 Sec 80 D
(4,160) (6,148)
2.5 Lakhs 5,831 8,198
(5,016) (7,384) Coverage under Self & Spouse
3 Lakhs 6,686 9,432 are individual sum insured
(5,872) (8,619) values under the plan
4 Lakhs 8,398 11,902
(7,583) (11,088)
Self + Spouse
Self 18-35 Yrs & Self 18-35 Yrs & Self 36-45 Yrs & Self 36-45 Yrs &
Sum Insured Spouse 18-35 Yrs Spouse 36-45 Yrs Spouse 18-35 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)
Healthwise – Hospitalization & Injury
Plan Benefits
Self 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
• & Spouse Plan Benefits
Self & Spouse Plan -- Benefits
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 for
Hospital Cash applicable on all plans
Healthwise – Hospitalization & Injury
Policy Features -
• Policy renewal & premium – Annual
• Pay mode - Standing instructions/ Direct debit / Credit Card / Cheque
dependent 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 Medical
Expense and Hospital Cash (Amounts to approximately 90% of the premium
paid)
• Age criteria – entry age is between 18 years to 45 years and can be renewed till
65 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 and
Hospital 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 through
borrowings and asset sale
– Declining trend in personal savings and increasing life-style related
diseases / sickness
– A large percentage of the upper income would utilise their past
saving 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
Healthwise – Hospitalization & Injury
• Permanent Total Disability - Table of benefits
Compensation Expressed as a
The Disablement 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%
Healthwise – Hospitalization & Injury
• Broken Bones - Table of benefits
Fracture % 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) A ll other fractures 50
2) Fractures of hip or pelvis (excluding thigh or coccyx):
a) Multiple fractures (at least one compound & one complete) 100
b) A ll other compound fractures 50
c) Multiple fractures, at least one complete 30
d) A ll other fractures 20
3) Fracture of thigh or heel:
a) Multiple fractures (at least one compound & one complete) 50
b) A ll other compound fractures 40
c) Multiple fractures, at least one complete 30
d) A ll other fractures 20
4) Fracture of Lower Leg, Clavicle, A nkle, Elbow, Upper or Lower
A rm (including wrist, but excluding Colles-type fracture):
a) Multiple fractures (at least one compound & one complete) 40
b) A ll other compound fractures 30
c) Multiple fractures, at least one complete 20
d) A ll other fractures 12
5) Fractures of Lower Jaw:
a) Multiple fractures (at least one compound & one complete) 30
b) A ll other compound fractures 20
c) Multiple fractures, at least one complete 16
d) A ll other fractures 8
Healthwise – Hospitalization & Injury
• 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:
a) Multiple fractures (at least one compound & one complete) 16
b) All other compound fractures 12
c) Multiple fractures, at least one complete 8
d) All other fractures 4
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 to
provide 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 our
operations - All India coverage supported by a toll-free line
1 800 226 226
• In the event of having to notify a claim, telephone calls shall be
addressed 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