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
Figures in brackets indicates
Tax benefit amounts under
Sec 80 D
Coverage under Self & Spouse
are individual sum insured
values under the plan
Healthwise – Hospitalization & Injury
Plan Benefits
Self Plan -- Benefits
• & Spouse Plan Benefits
Self & Spouse Plan -- Benefits
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
Healthwise – Hospitalization & Injury
• Broken Bones - Table of benefits
Healthwise – Hospitalization & Injury
• Broken Bones - Table of benefits (cont’d)
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) –
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