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HDFC ERGO Personal Accident Insurance

HDFC ERGO Personal Accident Insurance

HDFC ERGO General Insurance Company Ltd. is a joint venture between HDFC Ltd., India’s premier Housing Finance Institution and ERGO International AG, the primary insurance entity of Munich Re Group. The company has its operations across 120+ branches on 106 cities and currently employs around 3000 employees. The company has also been assigned ‘iAAA’rating by ICRA indicating its highest claim paying ability. As on March 2020, HDFC Ergo was the 3rd largest Private insurance player in the General Insurance industry, growing at around 8% over the previous year. They have during the current year acquired Apollo Munich Health Insurance to strengthen their presence in the rapidly growing Health insurance space in India.

Features of HDFC ERGO Personal Accident Insurance

Protects the entire family (spouse, children and dependent parents) at minimum cost
Broken bones coverage for parents up to 70 years
100% cover for spouse on all benefits under Family Plan.
Includes cover for broken bones, burns, ambulance costs, personal accidents worldwide as well as Hospital Cash (both sickness & accidental injury)
Range of Sum Insured plans from ₹2.5 lakh to ₹15 lakh cover.
No medical or health check-up required.
Open to anyone up to 65 years and parents up to 70 years.
Life Long Renewability
Free Look Period of 15 days

HDFC ERGO Health Insurance Review

HDFC ERGO Health Insurance sum insured
3 lacs − 75 lacs options available

Incurred Claims Ratio *
62.00%

HDFC ERGO Insurance tenure options
2 years

Claims Settlement Ratio **
85.97%

List of network hospitals
10,000+ hospitals

Number of policies issued *
1,066,395

Maximum family floater coverage
Self, Spouse + dependent (children (upto 25 yrs) + parents)

Number of lives covered *
96,05,000

* As per IRDAI report for 2018-19 | ** As per NL25 data published on the Insurance Company website

HDFC ERGO Personal Accident benefits

Coverages
Description of Benefits
Exclusions

Coverages under HDFC ERGO Personal Accident insurance

Benefits - Self Plan
Benefits / Sum Insured	2,50,000	5,00,000	7,50,000	10,00,000	15,00,000
Accidental Death	2,50,000	5,00,000	7,50,000	10,00,000	15,00,000
Permanent Total Disability	2,50,000	5,00,000	7,50,000	10,00,000	15,00,000
Broken Bones	25,000	50,000	75,000	1,00,000	1,50,000
Burns	12,500	25,000	37,500	50,000	75,000
Ambulance Costs	1,500	1,500	1,500	1,500	2,000
Hospital Cash (Accident & Sickness)	250/day	250/day	250/day	500/day	500/day
Add On Benefits - Dependant Parents
Accidental Death	2,50,000	2,50,000	2,50,000	2,50,000	2,50,000
Permanent Total Disability	2,50,000	2,50,000	2,50,000	2,50,000	2,50,000
Broken Bones	25,000	50,000	75,000	50,000	50,000
Family Plan Benefits
Accidental Death - Spouse 100% & Children 10% (Max 2)			Permanent Total Disability - Spouse 100% & Children 10% (Max 2)
Broken Bones - Spouse 100% & Children No Payout			Ambulance Costs - Same entitlement to all Family Members
Burns - Spouse 100% & Children No Payout			Hospital Cash (Accident & Sickness) - Spouse 100% & Children 50%

Description of Benefits

Accidental Death
Pays up to 100% of the Sum Insured if bodily injury results in death from an accident to any of the covered members.

Permanent Total Disability
Pays up to 100% of the Sum Insured if bodily injury results in permanent disability due to an accident. This disability needs to be certified appropriately by a medical practitioner.

Broken Bones
Pays up to ₹1.5 lakh (or a flat ₹50,000 for parents) if an accident results in broken bones.

Burns
Pays up to ₹75,000 if an accident results in hospitalization and treatment for burns.

Ambulance Costs
Pays up to ₹2000 towards the reimbursement of costs for ambulance charges.

Hospital Cash (Accidents & Sickness)
Pays up to ₹500 a day (for up to a maximum of 45 days i.e. up to ₹22,500) in case of hospitalization from accident or sickness. First 3 days of hospitalization not included.