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HDFC Life launches Health Assure Plan

HDFC Life, India‘s leading life insurance company, announced the launch of its new health insurance product – HDFC Life Health Assure Plan, aimed at providing a comprehensive health cover.

May 15, 2013 / 04:24 PM IST
-- Long-term protection to customers while offering a 50 per cent no claim bonus

-- Entry up-to 70 years and with no exit age providing assurance of a lifelong renewability

-- Service in over 4,500 hospitals for cashless claims.

-- The plan is also available for online purchase at

HDFC Life, India’s leading life insurance company, announced the launch of its new health insurance product – HDFC Life Health Assure Plan, aimed at providing a comprehensive health cover. The plan offers reimbursement of medical expenses incurred in a hospital and is available in two variants – Gold Plan and Silver Plan. The plan allows coverage for families on floater cover basis, covers 200 day care procedures, Pre and Post Hospitalization Benefit and offers a host of other benefits.

Commenting on the launch, Amitabh Chaudhry, MD & CEO, HDFC Life said, “Customer centric product innovation has been our prime focus at HDFC Life. In line with our philosophy, we are proud to announce the launch of Health Assure – a health insurance plan that will provide long term protection to our customers while offering a 50 per cent no claim bonus.”

“Health Insurance is growing at a CAGR of more than 30% and with current total market size of about Rs. 14,000 crores. This market is expected to show robust growth and is projected to be more than Rs. 30,000 crores in size over the next 5 years. I firmly believe that these are conservative estimates for India considering the growing economy, rising income levels, increased health awareness and easier access to healthcare services. HDFC Life has been offering its services in health insurance segment for a long time and offers cover for surgical care and critical illnesses. The addition of the Health Assure Plan will strengthen HDFC Life’s product offerings in this segment,” he added.

HDFC Life Health Assure plan’s Gold Variant offers comprehensive mediclaim cover with added benefits of Hospital Cash, Wellness and Maternity Benefit (for family cover). The plan comes with a 3-year premium guarantee, which means that the premium remains same even if you claim. The Multiplier benefit increases the Annual Limit by 50% after one claim free year and doubles the annual limit after two consecutive claim free years. The plan comes with an entry up to 70 years and with no exit age providing assurance of a lifelong renewability. Customers have the flexibility to customize the plan, and can be opted as an Individual or Family floater. One may cover spouse, children, both parents and parents- in- law under family floater option. HDFC Life, through TPA has a tie-up with over 4,500 hospitals for cashless claims.

Plan Details

Key features of HDFC Life Health Assure Plan:

-- Premium Guarantee for 3 years:
Premium remains same even if one makes a claim

-- Multiplier Benefit: Cover doubles after 2 claim free years at no extra premium

-- Guaranteed Lifetime Renewability: If premiums are paid on time and the policy continues without any break in cover, then the plan offers guaranteed renewability for life time.

-- Cashless hospitalization: Available at more than 4500 network hospitals

-- Online purchase: The plan is also available for online purchase

Benefits include the following as per plan option selected

-- Inpatient Hospitalisation Benefit

-- Day Care Benefit

-- Pre and Post Hospitalisation Benefit

-- Emergency Ambulance Benefit

-- Donor Expense Benefit

-- Multiplier benefit

-- Hospital Cash Benefit for sundry expenses

-- Wellness benefit (health checkup vouchers to all insured lives under this plan)

-- Maternity Benefit

Tax Benefits:

-- Premiums paid under this plan are eligible for tax benefits under Section 80D of the Income Tax Act, 1961, subject to the provisions contained therein.

About HDFC Life:

Established in 2000, HDFC Life is India’s leading long-term insurance solutions provider offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment, and Health. The company also offers Women’s Plans to meet specific needs of women. Customers have the added advantage of customizing plans, by adding optional benefits called riders, at a nominal price. The company currently has 32 retail and 10 group products in its portfolio, along with 10 riders.

We promote high integrity in business practices and shun short cuts and unethical practices, as we aspire to the most trusted company, the easiest to deal with, and offer the best value for money. Since our inception, we have consistently focused on setting benchmarks in all aspect of insurance business.

HDFC Life continues to have the widest reach with about 500 branches in India touching customers in over 900 cities and towns. The company has also established a liaison office in Dubai. The company has a strong presence in its existing markets with a strong base of Financial Consultants.

HDFC Life is a joint venture between Housing Development Finance Corporation Limited (HDFC), India’s leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom.

For more information, please visit our website, You may also connect with us on Facebook, Twitter, Youtube, Linkedin, and Google+.

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Plan Details

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