HDFC Chubb General Insurance Company Limited Launches

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HDFC Chubb General Insurance Company
LimitedLaunches
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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
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• HDFC Chubb collectively bring an experience of
  over a 100 years in the financial sector

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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)

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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

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Healthwise Hospitalization Injury

• Key benefits of the plan (contd)
• 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

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Healthwise Benefit details In hospital
medical expenses Hospital Cash Accidental
Injury
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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

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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

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Healthwise Hospitalization Injury

• Self Plan - Benefits
• Self Spouse Plan - Benefits

• Self Plan - Benefits
• Self Spouse Plan - Benefits

10 deductible on In hospital medical expenses
3 day time deductible for Hospital Cash
applicable on all plans
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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

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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
• Its an inexpensive option to secure oneself and
  immediate family

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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

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Why the Personal Accident benefit?

• Dont 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

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Healthwise Hospitalization Injury

• Permanent Total Disability - Table of benefits

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Healthwise Hospitalization Injury

• Broken Bones - Table of benefits

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Healthwise Hospitalization Injury

• Broken Bones - Table of benefits (contd)

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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

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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

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Mandatory requirements on proposal form - Cont

• Occupation details compulsory
• Signature on proposal form - MOST IMPORTANT
• Bank Account number
• Income criteria (Declaration based)

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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)

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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 Chubbs philosophy the
  world over to provide a fair, just and timely
  settlement of all claims

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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 line1 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

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Thank you