HDFC ERGO Optima Restore VS Niva Bupa Health Reassure

HDFC ERGO Optima Restore VS Niva Bupa Health Reassure

It goes without saying that selecting the best health insurance can significantly help to safeguard your family’s health.

In addition, access to a top-notch medical facility and hospitalization bills may be difficult to afford, given the escalating cost of healthcare. As a result, purchasing health insurance for your family and yourself can give you the extra security you require in situations like these. A health insurance plan is quite helpful when it comes to fighting medical treatment inflation, aside from the apparent advantage of having the financial security to care for your loved ones.

Let’s discuss two significant plans, namely HDFC ERGO Optima Restore Family Health Plan and Niva Bupa Health Reassure, in detail.

What is HDFC ERGO Optima Restore Individual Health Plan?

HDFC ERGO Health Optima Restore health insurance plans provide coverage for the entire family within the scope of a single health plan. With HDFC ERGO Optima Restore, you may take advantage of other fantastic benefits to suit all of your healthcare needs and the convenience of cashless care at any of the network hospitals. The built-in features of “secure, plus, protect, and restore” allow consumers can receive up to four times their sum insured at no additional cost while still being guaranteed coverage for the non-medical costs that are specified.

HDFC Ergo Optima Restore Plan Benefits

HDFC Ergo Optima Restore offers various additional benefits along with their coverage benefits. Below are the additional benefits offered under HDFC Ergo Optima Restore Plan:

  1. Restore Benefit: It is a major benefit of HDFC Ergo Optima Restore that makes this plan different from others. In the event that your existing HDFC Ergo Optima Restore Policy Sum Insured and Multiplier Benefit (if applicable) are fully or partially utilized within the Policy Year, your initial sum insured amount will be reinstated.
  1. Health Checkup: The HDFC ERGO Optima Restore plan offers a Health Checkup benefit at renewal time, regardless of the status of any claims. This benefit helps you monitor your health state. For an insured amount of INR 5 lakh or less, the health checkup benefit is available every two years, and for an insured amount of INR 10 lakh or more, it is accessible once a year.
  1. Multiplier Benefit: For each year without a claim, the multiplier benefit will raise your base sum protected by 50%, up to a maximum of 100%. The maximum under this benefit will be reduced by 50% of the basic sum insured in the following year if a claim is made during the current policy year. The Sum Insured will not, however, be decreased below the basic Sum Insured value of the insurance.
  1. Tax Benefits: Another major benefit of choosing the plan from HDFC is that the policyholder may claim a tax deduction for the premium paid under section 80D of the Income Tax Act. With this plan, you will don’t have to worry about income tax.
  1. Free Look Period: The policy’s terms and conditions can be read through for a period of 15 days. If you don’t find it beneficial, you can surrender it without any difficulty.
  1. Pre-Policy Checkup: If the applicant is 46 years of age or over and chooses an insurance amount of INR 15 lakhs or higher, it is necessary.
  1. Discounts Offered: For policies with longer terms and with more than two members, HDFC Optima Restore offers lower premiums. 7.5% off the 2-year policy duration.
  1. No Claim Benefits: For each year without a claim, the policyholder is eligible for a 50% cumulative bonus.

What is Niva Bupa Health Reassure?

The Niva Bupa Health ReAssure plan, formerly known as Max Bupa ReAssure, is intended to provide you and your family with up to one crore in coverage for medical crises. It offers a wide range of healthcare advantages, such as in-patient hospitalization, domiciliary hospitalization, etc., in addition to several standout qualities. With a high sum insured range of up to Rs 1 crore and assurance at every turn, the policy offers a plethora of advantages. Because of this, the insured is guaranteed a smooth claim settlement with limitless reinstatement of the sum covered and a booster benefit that doubles it after two years without a claim.

Are There Any Features & Benefits of Niva Bupa Health Reassure? Let’s Find Out

Listed below are the key features and benefits of the Niva Bupa Health Reassure Plan. Let’s discuss them in detail!

  1. Lifetime renewal facility: The Niva Bupa Health Insurance plans’ lifelong renewal service offers a simple and quick way to renew your coverage. Additionally, this facility offers access to money in the event of any medical emergencies.
  1. Comprehensive insurance plan: The Niva Bupa Health insurance plans are all-inclusive and tailored to the needs of the user.
  1. Tax Benefit: Under Section 80D of the Income Tax Act of 1961, the premium paid for the Niva Bupa (Formerly known as Max Bupa) ReAssure Family Floater Insurance Policy is tax-exempt, subject to any applicable caps.
  1. Booster Benefit: When you choose the plan to safeguard your health, you’ll get a 50% increase in the insured amount in the event of a year without a claim; a maximum of 100% (reduction of 50% in the event of a claim).
  1. Client-focused services and products: The Niva Bupa Health Insurance products are created with the client in mind and guarantee pre-authorization of cashless claims within 30 minutes, direct claim settlement capability, and round-the-clock client support. At the top hospital, the insurance company operates a “point of care” desk that handles the claim-filing processes for policyholders.
  1. ReAssure: In a policy year, there are no restrictions on reinstatements for the same or different illnesses.

Differences Between HDFC ERGO Optima Restore Family Health Plan VS Niva Bupa Health Reassure

The following list highlights some of the key differences between them:

ParametersHDFC ERGO Optima Restore Health PlanNiva Bupa Health Reassure
AgeEntry Age 91 days – 65 yrs. Renewal for a lifetime. A dependent Child can be upto the age of 18 yrs

Minimum Age- 18 days to 65 years

Maximum- 65 years

Sum InsuredRs 3 Lac, 5 Lac, 10 Lac, 15 Lac, 20 Lac, 25 Lac, 50 Lac3L, 4L, 5L, 7.5L, 10L, 12.5L, 15L, 20L, 25L, 50L, 75L, 1Cr
Pre-hospitalizationUp to the Sum Insured for 60 DaysUp to the Sum Insured for 60 Days
Post-hospitalizationUp to the Sum Insured for 180 DaysUp to the Sum Insured for 180 Days

Ambulance (per

hospitalisation limit)

Road: Up to 2,000

Air: Up to 2.5L (applicable for Basic Sum Insured above 5L)

Covered upto 2,000 per hospitalization

Air:

Cashless claim: Covered up to the sum insured

Reimbursement claim: Covered up to 2.5 Lacs

Shared accommodation cash benefit

For Sum Insured: 3L/5L/10L/15L

800 / day (Maximum 4,800)

For SI: 20L/25L/50L

1,000 / day (Maximum 6,000)

Up to 15 Lacs base sum insured: 800 per day (maximum 4,800) Above 15 Lacs base sum insured: 1,000 per day; (maximum 6,000)

Conclusion

Hoping that by comparing the two plans, you can make an informed choice. After considering all the features on hand, eligibility criteria, and benefits of both HDFC Ergo Optima Restore and Niva Bupa Reassure Plan, it’s a tough choice to declare a winner. It all boils down to the needs of the individual which may differ from one person to another. Firstly, analyze your health insurance needs and then choose the plan accordingly. You might also check for a hospital network in your city before deciding on a plan.

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