Health Insurance - FAQs

What is Health Insurance policy?

Health Insurance policy provides protection against medical expenses that you might incur during hospitalization due to illness, disease or accident.

Why do I need Health Insurance?

Cost of healthcare is rising rapidly. With the introduction of newer technology & medicines, the cost of medical treatment may become unaffordable for majority of individuals. You must be ready to protect yourself & your family against any uncertain medical emergencies. Health Insurance Plan provides you financial assistance for such events.

Is Health Insurance the same as Life Insurance?

No, Health Insurance is not the same as Life Insurance. Life insurance plans provide financial protection against loss of income due to death of life assured. Health insurance plan on the other hand provide financial protection against medical expenses that you might incur during hospitalization.

Do I need to send my premium payment with the application form?

Yes, you need to provide premium payment along with the application form.

Who is a Third Party Administrator or a TPA?

TPA or a Third Party Administrator is an entity duly licensed by Insurance Regulatory Development. Authority of India to provide timely claims services to Lives Insured's on behalf of Insurance Company. The TPA also facilitates cashless hospitalization service in their network hospitals.

What is the difference between health insurance plan (Indemnity) and fixed benefit plan of Life Insurance Companies?

Health insurance plan works on the principle of reimbursement. In which hospitalization an expense is paid up to sum assured. Fixed benefit plan of Life Insurance Companies works on the principle of compensation. In which hospital daily cash benefit and major surgical benefits are paid as per the fixed amount under plan opted irrespective of actual expenses. In this type of plan premium are allocated in two parts one is investments and another is for providing benefits. Generally, premium and expenses are on higher side in such type of plan

Which are things one should consider while choosing the Health Insurance Plan?

One needs to take into account following things:

- Renewability is guaranteed,
- Type of exclusions and period of exclusion and any premium loading options, Day care procedures are covered or not,
- No claim bonus Benefits in sum insured / premium for no claims in a particular year
- Availability of cash less service

Health insurance : How important is it?

*premium Amount for Male, 35 yrs, 10 year term, Silver option, including tax.
HDFC Standard Life Insurance Company Limited.

Insurance is the subject matter of the solicitation. For more details on risk factors, associated terms and conditions and exclusions please read the product brochure before concluding a sale. HDFC Life Health Assure Plan (Form No. P501-105, UIN: 101N087V01) is the name of traditional health plan offered by HDFC Life. HDFC Standard Life Insurance Company Limited is only the name of the Insurance Company, HDFC Life is only the name of the brand and HDFC Life Health Assure Plan is only the name of the product. The name of the company, name of the brand and the name of the product does not in any way indicate the quality of the contract, its future prospects or returns. HDFC Standard Life Insurance Company Ltd. IRDAI Reg No. : 101. ARN: MC/03/2015/6186.
CIN : L65110MH2000PLC128245. Tax benefits are subject to change in tax laws.

Corporate Office & Registered Address

HDFC Standard Life Insurance Company Ltd.
Lodha Excelus, 13th Floor Apollo Mills Compound,
N.M. Joshi Marg, Mahalaxmi
Mumbai, Maharashtra 400011
Telephone: (022) 67516666

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