With regards to choosing a health insurance coverage supplier, there are plenty of choices accessible on the lookout. Two of the most unmistakable names are HDFC ERGO and Star Health Insurance. Let’s talk about HDFC ERGO vs Star Health Insurance, which one is better? The two organizations offer a scope of medical coverage strategies to suit various necessities and financial plans, yet how would they contend with one another?
HDFC ERGO vs Star Health Insurance, which one is better?
In this article, we will think about a few critical elements of the two organizations. We will likewise look at two of their famous designs for your better comprehension.
Let us, first and foremost, analyze significant key highlights HDFC Consequently and Star Health care coverage.
Network emergency clinics – HDFC ERGO has 13,000+ contrasted with Star Wellbeing’s 11,000+. Higher possibilities of credit only hospitalization even in far off areas if there should arise an occurrence of HDFC ERGO. Guarantee settlement proportion – Star Health has a case settlement proportion of 84% which is simply underneath the suggested 85%.Key Important Features
| Particulars | HDFC ERGO Health Insurance | Star Health Insurance |
| Network Hospitals | 12000+ | 14000+ |
| Claim Settlement Ratio | 97% | 99.06% |
| Incurred Claim Ratio | 62% | 63% |
| Branches | 650+ | 830+ |
| No of Plans | 6 | 11 |
| Employees | 10,000 + | 14,500+ |
HDFC ERGO vs Star Health Insurance (Individual Health Plan)
https://www.hdfcergo.com/health-insurance
| Plan features | HDFC ERGO Optima Restore Plan | Star Comprehensive Insurance Policy |
| In-patient Care | Covered | Covered |
| Auto Recharge | 100% for any illness | 100% for any illness |
| Cumulative Bonus | 50% increase of SI, after every 2 claim free years, up to a maximum 100%. | 50% increase of SI up to maximum of 100%. |
| Pre-Hospitalisation | 60 days covered | 60 days covered |
| Post- Hospitalisation | 180 days covered | 90 days covered |
| Room Rent | Single room | AC room, single room |
| Air Ambulance | Covered up to ₹ 5,00,000 | Covered up to ₹ 5,00,000 |
| Maternity Coverage | Not available | Available |
| Co-payment | NA | 10% if plan purchased after 61 years of age. |
| Outpatient Consultation | Covered | NA |
| Renewability | Lifelong | Lifelong |
ERGO vs Star Health Insurance (Cancer Health Plan)
| Plan features | HDFC ERGO I Can Cancer Policy | Star Cancer Care Platinum Policy |
| In-patient Care | Covered | Covered |
| Pre-Hospitalization | 30 days covered | 30 days covered |
| Post- hospitalization | 60 days covered | 60 days covered |
| AYUSH | NA | NA |
| Cumulative Bonus | NA | 5% increase of the Sum Insured for each claim-free year subject to a maximum of 50%. |
| Lumpsum Payout | In-built | Optional |
| Second Medical Opinion | Covered | Covered |
Conclusion
Eventually, the decision between HDFC ERGO and Star Health Insurance will rely upon your singular requirements and needs. It’s essential to painstakingly check the inclusion and advantages presented by each organization to pursue an educated choice.
While both the organizations offer broad inclusion and advantages, it’s essential to assess your own medical care needs and financial plan prior to settling on a last choice.
Likewise, prior to picking a health care coverage supplier, knowing the organization clinics of the safety net provider around you is basic. It means quite a bit to really look at the case settlement and caused guarantee proportions, as they are solid marks of the monetary strength and unwavering quality of the insurance agency.
Frequently Asked Questions:
Which health insurance is better to take, LIC, Star Health, or HDFC Ergo?
LIC does not offer health insurance, so its out of the race.
Now amongst “Star Health” and “HDFC ERGO”, i would recommend to go for the policy of HDFC ERGO because HDFC ERGO policies does not have any capping on room rent where as STAR HEALTH has the capping in room rent.
According to me, out of all the above parameteres, the most important parameter to choose a health insurance is to see whether there is any capping in ROOM RENT or not.
Because “Capping on room rent” plays a very important role in how much claim you will get from the mediclaim company.
Again within room rent, there are further 2 kinds of capping.
1 – Capping on room rent on a % basis: Let’s straight away try to understand this with the help of an example. Suresh has a mediclaim policy of Rs. 3,00,000 in which there is a room rent capping of 1% of sum assured which comes to Rs. 3000 (3,00,000*1%) room rent limit on a per day basis. He met with an accident and was hospitalized for 4 days. The rent of the room in which he was hospitalized was Rs. 4500 per day. Now total expenditure on 4 days was Rs. 2,00,000 which includes Rs. 18,000 (4500*4) as room rent and the balance Rs. 1,82,000 (2,00,000 – 18000) as other expenditure.
Now in this case if I ask you how much claim would Suresh get from the insurance company. Most of us would Say Rs. 1,94,000 (1,82,000 +12,000) This figure we arrived at after deduction of Rs. 6000 (1500*4) from the room rent. His eligibility of room was for Rs. 3000 on a daily basis but he got admitted to a room whose rent was Rs. 4500 that is Rs. 1500 extra. Since the stay was for 4 days , hence insurance company would not pay Rs. 6000 (1500*4).
But this is not how the claim would be calculated. Generally in a hospital, all other charges are linked to room rent. So if there is a violation of room rent limit, the insurance company makes the reimbursement on a pro rata basis. So in the above example, the insurance company will find out Rs. 3000 (room rent eligibility) was how much % of Rs. 4500 which comes to 66.67%. Actual claim was Rs. 2,00,000. So, instead of paying Rs. 2 Lac, insurance company would reimburse only Rs. 1,33,333 (2,00,000*66%).
2 – Capping on room rent on “Room Category” basis: This one is very tricky although insurance companies will not accept this.
- There are 7 different categories of room which one can choose for taking treatment.
- You take any category and you will find that higher the room category, higher will be the charges.
- Even advance deposit differs as per the room category.
- But i want to bring your attention to the room rent row titled as WARD. If you opt for the common category, per day rent would be Rs. 950 which goes upto Rs. 22,000 for Suite room
- Looking at the room rent category, it seems that “common”, “economy” and “Twin” are available on a shared basis which means more than one person is staying. And from “special” onwards , single pvt room is available.
- So even, someone wants to opt for the single pvt room, one can choose from 4 different categories which are “special”, “Deluxe”, “super Deluxe” and “suite”.
Now lets understand how capping on room rent category works. There are many insurance companies who says they are offering “Single Pvt Room” but when you look at the policy wording document their definition of “Single Pvt Room” is lowest category of single pvt room within the hospital with basic amenities like AC, attach bathroom and one extra bed for the caretaker of patient. So as per the definition, looking at the above image, the lowest category of single pvt room would be “special” room . So in this case, if a person opt for “Deluxe” room, then claim would be paid on pro rata basis as mentioned above.
My take:
➢ “Room category” capping is better than “% Capping” Taking above example only, Rs. 3000 (1% of sum insured of Rs. 3 lac) might seems good today but what about 5 years down the line . The room which i am getting today, the same room’s rent will increase going forward and i wont be able to get it again at Rs. 3000. But in case of “room category” capping, i need not worry about the inflation, bcz capping is on “room category” irrespective of the rent of that particular category of room.
➢ Ideally opt for a policy, which does not have any capping in room rent.
Hence i am recommending you to go for the policy of HDFCERGO as it does not have any capping in room rent.
Is Star Health Insurance a good company?
I compared all the plans on the basis of their premium and benefits and selected the Star Diabetes safe insurance the best. The plan is pocket-friendly and offers the covers that we need.
Can I buy health insurance from LIC?
No LIC don’t sell Health care coverage however LIC sell basic sickness cover which implies if there should be an occurrence of safeguarded contracting indicated illness , LIC pays a decent sum according to seriousness of infection .
These are beneficial strategy to Medical coverage and doesn’t fall under therapy and repayment .
One priority these item like malignant growth care in the portfolio .
What are the details of the LIC Jeevan Arogya health insurance plan?
Jeevan Arogya is a proper advantage medical coverage plan i.e., a decent sum, contingent on the Underlying Everyday Advantage chose by you, is paid in the event that any hospitalization of the existence guaranteed or different individuals guaranteed happens. A decent level of the Total Guaranteed is paid in the event that the guaranteed individuals go through a medical procedure. In any case, this isn’t a mediclaim strategy where the primary guideline is repayment. This is a proper advantage strategy. Kindly have some familiarity with every one of the agreements prior to taking this strategy
What type of insurance should I buy, health, term plan or LIC?
Health insurance should be given TOP MOST priority
Then personal Accident insurance protection of no less than multiple times of each month dynamic pay … Then, at that point, Term Protection of same sum
All the above expenses ought to be paid reasoning that if nothing happens, the whole cash will go waste.
One ought to never consider protection as transient money growth strategy … as a matter of fact ,it’s not be mistaken for speculation.
Protection and speculation ought to constantly be dealt with independently.
After satisfactory protection one ought to design ventures
Is it worth buying a Jeevan Arogya – Health insurance from LIC?
Please understand first there are 2 basic types of health insurance
- Regular Mediclaim Strategy (Accessible with General Insurance agency). they assist in level costs with covering or repayment of emergency clinic costs.
- Benefit Wellbeing Strategy (disaster protection Organizations) they pay you pre-characterized benefit on occurring of the medical problem occasion characterized in the arrangement. in the event that you made a case in choice 1, you can in any case get extra advantage in choice 2.
- Jeevan Arogya plan is choice 2. so it tends to be bought notwithstanding your essential choice 1 mediclaim, it can’t be a substitute to choice 1.
- if your boss as of now has given you choice 1, then, at that point, it checks out buying Arogya.
- Jeevan Arogya is a decent mix
What is the best LIC policy above 40 years with the medium premium of the amount?
However LIC strategies are not suggested for venture and one ought to purchase term protection item for risk cover. Still in the event that you need a blend of reserve funds and hazard protection, Keep it straightforward and go for a blessing item for most extreme term. By straightforward I mean aggregate safeguarded + accumulated reward payable on death before term or total guaranteed in addition to full reward payable on development. In the event that you are 40 years and will resign from dynamic work at 60, take a term of 20 years
Is LIC better than a Term insurance plan in 2023?
- Established Standing: LIC is a notable and entrusted protection supplier in India with a well-established presence on the lookout. It has an enormous client base and a solid monetary position.
- Product Territory: LIC offers an assortment of protection items, including term protection plans, enrichment plans, entire life plans, and then some. This gives choices for people different inclusion needs and monetary objectives.
- Investment Part: Some LIC plans might offer a reserve funds or venture part, permitting policyholders to collect money esteem over the long haul. These plans join protection security with a reserve funds component, which might be interesting to specific people.
- Maturity Advantages: Certain LIC strategies give development benefits, where a single amount sum is paid to the policyholder toward the finish of the strategy term on the off chance that they endure the arrangement time frame. This can be invaluable for people looking for a blend of security and investment funds
How is LIC insurance different from Star Health insurance plans?
Hi,
The essential difference is
LIC:- Life coverage Partnership of India as the name recommends is an Extra security Organization which assists you with purchasing Life coverage. You can purchase Protection according to your Drawn-out Monetary necessities and Life Objectives.
Monetary necessities and Life objectives like Youngsters’ Schooling, your Retirement, Life security through Term Protection.
LIC is the greatest Disaster protection organization in India and presently it is among Top 10 Back up plans on the planet.
Motivation to be Glad
Can I get an insurance cover in all of my LIC policies if something bad happens to me?
You will not get an insurance cover in your LIC contracts It is now there. Should something unanticipated happen to you, your candidate gets the case sum. A few sorts of advantages are paid to you as well. Ex Unintentional handicap Rider whenever taken pays you a foreordained sum to you, in the event that you meet with a mishap and are for all time crippled. One more is basic sickness rider, which does likewise whenever determine to have a rundown of basic diseases.
Actually take a look at your strategy for this multitude of advantages. Assuming they’re accessible in the approach, better get them