HDFC Ergo Health policy excessive hike in premium
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We had Apollo family floater (Optima plan) for 5L coverage only. Plan was not to make any claims and eventually end with 10L coverage due to no claim bonus. Family consists of 37M,36F,6F Not claimed single Rs1 and got NCB each time. This is the hike in premium for 2 years plan:
Rs 42,817/- (due on 28 sept 2022) 57% hike from last premium paid, added new infant member last year
Rs 27,160/- (28 sept 2020) 30% hike from last premium paid
Rs 20,956/- (28 sept 2018)
After Apollo health insurance was bought by HDFC, I feel premiums have seen huge hike. Last time I complained and they said it's because of covid, plus eldest member became 37years old and nothing can be done. Complained to IRDAI and they were useless, gave a canned response. I am thinking of not continuing with this policy since we have good coverage from my employer plus when we need the policy in old age, coverage amount then would be low and anyways we would have saved premiums maybe more than the coverage amount. Or move to PSU insurer? What do you guys suggest?
You can use health insurance portablity and change to diff provider. Or change to 5lac or 2-3 lac plan as you already have corporate policy. Increase the amount in last few year of your service.
Also your hdfc policy of 5lac which you thinks offer 10lac cover instead in reality is less than 5lac .... How? Let me explain you with eg. A gallbladder removal surgery cost 50k via cash or national insurance co(govt)in leading stone hospital chain however if you got hdfc policy then same surgery cost 1.2lac so hdfc ergo is fooling it's holder by offering a bigger cover when it is offering even less than cover amount. Obviously it must be paying 50k in backend.
This while I have seen most of the time govt insurance policy price is less than even cash price of surgery. Like for eg a mastectomy surgery in leading gurgaon hospital cost 92k if paid via cash while via national insurance health policy cost Rs.62k.
So think twice before buying these stupid no claim bonus policy of leading pvt health insurance providers.
jambui wrote:You can use health insurance portablity and change to diff provider. Or change to 5lac or 2-3 lac plan as you already have corporate policy. Increase the amount in last few year of your service.
Also your hdfc policy of 5lac which you thinks offer 10lac cover instead in reality is less than 5lac .... How? Let me explain you with eg. A gallbladder removal surgery cost 50k via cash or national insurance co(govt)in leading stone hospital chain however if you got hdfc policy then same surgery cost 1.2lac so hdfc ergo is fooling it's cover by offering a bigger cover when it is offering even less than cover amount. Obviously it must be paying 50k in backend.
This while I have seen most of the time national insurance policy price is less than even cash price of surgery. Like for eg a mastectomy surgery in leading gurgaon hospital cost 92k if paid via cash while via national insurance health policy cost Rs.62k.
So think twice before buying these stupid no claim bonus policy of leading pvt health insurance providers.
Which insurer you recommend?
Health insurance premium depends on age bracket. What insurer told you is correct. If you are changing insurance provider just for the sake of premium then one sooner or later you'll be facing the same issue with your prospective insurer.
Company provided insurance can be closed owing to a change in company's policy. IMHO please stick to it untill you are in govt. sector where the chances of such closure are minimal.
You may go for super top, premium of which will be less and coverage will be more.
jambui wrote:How do you know the cost paid by the National insurer, is this info publicly available?my company insurance is with oriental and they have this abysmal limits for certain diseases irrespective of how much sum insured you opt for e.g kidney stone removal is 25000, most hospitals I have enquired charge 4x-8x of the amount, so atleast on the some of the disease, capping limit is a pure farce by these health insurers.Like for eg a mastectomy surgery in leading gurgaon hospital cost 92k if paid via cash while via national insurance health policy cost Rs.62k.
My whole family had 4-5 HDFC ergo (former appollo) and we all are shifted to Aditya Birla. Nothing can justify of 50% hike. HDFC has too fast claim settlement but then also premium was 28k for my policy and that too of 3 lakh insurance and aditya birla have 18k for 5 lakh. So its better to port out
I renewed my HDFC Ergo in July and paid only 28k from around 24k 2 years back for family of 4 with 5L coverage.
PS: Have paid 24k and previous was 20k; Added my Baby in latest one.
Options u have:
1) Think of Optima secure plan of hdfc. If employer policy is there, u can take deductible amount of 1 lac which will reduce premium by 50%.
2) Port out to other company (Sooner or later they will also hike)
3) If employer policy is there & u will have same benefit till atleast next 5 yrs., take super top-up policy which can be converted to base policy later on.
Hdfc restore plan is best & have easy claim settlement. So that comes with high pricing too...
ctrlshiftdel wrote:
How do you know the cost paid by the National insurer, is this info publicly available?my company insurance is with oriental and they have this abysmal limits for certain diseases irrespective of how much sum insured you opt for e.g kidney stone removal is 25000, most hospitals I have enquired charge 4x-8x of the amount, so atleast on the some of the disease, capping limit is a pure farce by these health insurers.
All 4 govt providers have same tariff called gypsum(spell not sure) package & oriental is worst out of 4.
kukdookoo wrote:
What is subsidy discount in these sarakari companies?
No subsidy. These are old providers with bulk of business so get better rates than pvt operators.
Plus few pvt operators want to inflate value of expenditure while in backend they pay less. This way on paper they can offer bigger cover amount in less premium. I have given example in above post.
CostalWaves wrote:
Better ro to port SBI general 3 laks sum insured policy.(policy name plz check) Prime benifit in this policy is life time same premium irrespective of age. (please confirm the same) Then choose super top up with 3 laks deduction. Will save you money 💰 Also check cash less nearby hospital for SBI
Any policy name of fixed premium policy?
jambui wrote:no this box is there on all sarkari insurance papers, they have no idea about itNo subsidy. These are old providers with bulk of business so get better rates than pvt operators.
Plus few pvt operators want to inflate value of expenditure while in backend they pay less. This way on paper they can offer bigger cover amount in less premium. I have given example in above post.
Port
CostalWaves wrote:But is this low Sum insured of 3 lakhs of any use in todays expensive health sector? @jambuiArogya Plus Health Insurance Flat premium
asli_shashikant wrote:
Only happening increase in tariff in hdfc Or others too? Please confirm
Everyone. Even govt providers increased it in last 2 years.
Uhtnas4444 wrote:Buy super top up for above 3 laks you will save lot of premium.
But is this low Sum insured of 3 lakhs of any use in todays expensive health sector? @jambui
CostalWaves wrote:Arogya Plus Health Insurance Flat premium
| XVIII. | Renewal Premium -guaranteed or not Renewal premium will remain fixed for respective plan. However OPD limit will change as age progresses and premium rate may be changed as mentioned under heading of “Revision in policy and rates”. |
Now what does that mean?
I have decided to port to CARE (earlier religare), excellent experience in past while processing cashless claim.. prices are relatively low while benefits are higher.. so visited their local office to understand different policies and now porting from Nivabupa & HDFCergo to CARE, seems sorted for next 10 years. Need to review again after few years because every company introduces new plan every few years, so old plans become irrelevant.
jambui wrote:
XVIII. Renewal Premium -guaranteed or not
Renewal premium will remain fixed for respective plan. However OPD limit will change as age progresses and premium rate may be changed as mentioned under heading of “Revision in policy and rates”.Now what does that mean?
Agar sbi chahe toh rate badh sakta hain yaa ghat sakta hai. Ye flat rate nii floating rate hai
i also see 25% hike in premium, OP which company you ported to ? I am also considering the same
binod_babu wrote:i also see 25% hike in premium, OP which company you ported to ? I am also considering the same
I didn't port and also did not renew my ergo policy. I am thinking of going only for super top up kind of policy since my company has good coverage and no point in paying so much premium every year.
dcb_lover wrote:I didn't port and also did not renew my ergo policy. I am thinking of going only for super top up kind of policy since my company has good coverage and no point in paying so much premium every year.
How smooth is the process of converting it into base policy, when a common PED of Cholesterol, Fatty Liver etc. is diagnosed during super top up?
Is it a easy underwriting process to get a Super Top up by declaring common PED of Cholesterol, Fatty Liver etc.?
How to port out of HDFC ergo Health policy. MY premium has doubled in 2 years from 14k to 28 k. Due date is 28th Jan. Porting can be done now?
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You can use health insurance portablity and change to diff provider. Or change to 5lac or 2-3 lac plan as you already have corporate policy. Increase the amount in last few year of your service.
Also your hdfc policy of 5lac which you thinks offer 10lac cover instead in reality is less than 5lac .... How? Let me explain you with eg. A gallbladder removal surgery cost 50k via cash or national insurance co(govt)in leading stone hospital chain however if you got hdfc policy then same surgery cost 1.2lac so hdfc ergo is fooling it's holder by offering a bigger cover when it is offering even less than cover amount. Obviously it must be paying 50k in backend.
This while I have seen most of the time govt insurance policy price is less than even cash price of surgery. Like for eg a mastectomy surgery in leading gurgaon hospital cost 92k if paid via cash while via national insurance health policy cost Rs.62k.
So think twice before buying these stupid no claim bonus policy of leading pvt health insurance providers.
Any 3 of govt health provider....national, new india or United india. Avoid oriental.