HDFC Bank HealthCover FD

1. What is HDFC Bank HealthCover FD?
   
   HDFC Bank HealthCover FD is a unique investment product which offers both - the benefits of a Fixed Deposit & the safety of Hospital Cash Cover. On opening a HealthCover fixed deposit, Hospital Cash cover for the first year will be provided. For FD amt 5 lacs to < 10 lacs, Hospital Cash cover of Rs 500 per day for 15 days & for Amt >=10 lacs to 2.99 cr, Hospital Cash Cover of Rs 1000 per day for 15 days

2. How much interest will be applicable on the HDFC Bank HealthCover FD?
   Interest on HDFC Bank HealthCover FD is same as offered on Regular Fixed Deposit

3. Can I choose monthly/quarterly interest payout on HDFC Bank HealthCover FD?
   Yes, monthly/quarterly interest payout option is available on HealthCover FD. However, rate applicable on monthly payout will be discounted over the standard deposit rate

4. Who all can book an HDFC Bank HealthCover FD?
   Residents falling in the age group 18 to 59 years can avail of the HDFC Bank HealthCover FD

5. What is the minimum & maximum amount of HealthCover FD that can be booked?
   HealthCover FD can be booked for minimum amount of Rs. 5 lacs & Maximum amount of Rs. 2.99 Cr

6. What is the minimum & maximum tenure of HealthCover FD that can be booked?
   HealthCover FD can be booked for a minimum tenure of 12 months & maximum tenure of 120 months

7. Can I liquidate HealthCover FD fully/partially before maturity?
   Yes. However, if the Fixed Deposit is liquidated fully or partially i.e. (>=50% of original principal value) within a year, then the Health insurance cover will be de-activated with immediate effect

8. How can I apply for an HDFC Bank HealthCover FD?
   You can apply for HealthCover FD online via NetBanking

9. Will the TDS be payable on HealthCover FD?
   TDS will be applicable on the HealthCover FD as per the extant guidelines

10. What are the benefits of HealthCover FD?

• HealthCover FD is a unique product proposition which offers Hospital Cash Cover valid for 1 year on opening of the FD

• Hospital Cash cover on the Fixed Deposit investment, For FD amt 5 lacs to < 10 lacs, Hospital Cash cover of Rs 500 per day for 15 days & for Amt >=10 lacs to 2.99 Cr, Hospital Cash Cover of Rs 1000 per day for 15 days is given for the 1st year on a minimum FD of Rs 5 lacs & Max Rs 2.99 cr

11. What is the eligibility for HealthCover FD?
    FD should be of Rs 5 lacs and above (max 2.99 cr) and of minimum tenure of 1 year. Age of customer investing in HealthCover FD should be between 18 and 59 years and the customer should be in good health

12. How long will be the Hospital Cash Cover be valid for?
    The Hospital Cash Cover will be valid for one year
    
    

13. Does the customer have to pay any premium for first year?
    Customer does not have to pay any premium for the first year

14. What is the process to raise the claim?
    Customer can write to below ids: abhi.grievance@adityabirlacapital.com  orcare.healthinsurance@adityabirlacaptital.comFor claim process & documentation

15. What are the terms and conditions related to Hospital Cash Cover?
    Please refer the below annexure for detailed terms and conditions for Hospital Cash Cover

Terms & Conditions: HDFC Bank HealthCover FD. (Fixed Deposit with Hospital Cash Cover)

I/We hereby agree and acknowledge that HDFC Bank HealthCover FD is a new product variant which provides complimentary Hospital Cash cover for the 1st year of the Fixed Deposit tenure to the primary holder of the Fixed Deposit (FD) only and the same shall not be available for the joint holders (if any). The Hospital Cash Cover (policy) shall be available subject to the below terms and conditions.

1. That the eligible age criteria of the primary holder (Resident individual) of the FD shall be between 18 years to 59 years

2. The minimum amount of the FD is Rs 5 lacs and maximum amount of the FD is Rs 2.99 cr

3. The tenure for the FD is Min 1 year and Max 120 months

4. The Hospital Cash Cover offered shall be dependent on principal amount of the FD. Hospital Cash cover Rs 500 per day for 15 days: FD amount >=5 lacs to < 10 lacs and Hospital Cash cover Rs 1000 per day for 15 days: FD amount >= 10 lac to 2.99 cr

5. The Complimentary Hospital Cash Cover is applicable only for 1st year of the Fixed Deposit tenure

6. The complimentary policy (Group Hospital Cash Cover) issued in my favour shall be cancelled upon premature/partial liquidation of FD principal amount >=50% of the total FD booked by me. Also, if the same is force closed by the bank due to non-servicing of OD against FD

7. Nomination in the FD and Hospital Cash Cover (policy) is mandatory. If nominee is minor, guardian/appointee details should be shared and guardian/appointee should not be a minor

8. Customer can avail only one Hospital Cash Cover (Policy) against each FD per cust id. New Hospital Cash Cover (Policy) against the FD can be availed only after a year from premature withdrawal/closure/maturity of the earlier FD

9. Hospital Cash Cover will be applicable only to the primary holder of the FD

10. The details for the renewal of the Hospital Cash Cover (Policy) for the subsequent year (i.e. 2nd year onwards) shall be shared by the concerned Insurance company on or before the expiry of the Policy

11. For any dispute/grievances in relation to the Hospital Cash Cover, Customer to contact the Insurance Company for grievance redressal

12. For any queries related to the policy, customer can write to XXX (ABHI) or visit nearest branch

13. For any queries related to the claim, customer can write to XXXX (ABHI)

14. TDS will be applicable on these FDs as per the extant statutory guidelines

15. All terms and conditions with respect to FD will be applicable

16. That the eligible age criteria of the primary holder of the FD shall be between 18 years to 59 years. In the event of the change in age of member between the date of receipt of member consent and the risk commencement date, the Hospital Cash Cover of the member shall be provided as per the age on the risk commencement date

17. The coverage shall terminate if you fail to satisfy any of the eligibility criteria, if you cease to be a member of the group for whatsoever reason or your relationship ceases with the master policy holder or if the premium is not paid within the allowed premium payment period

18. Nominee details updated are applicable only for current Policy being issued in the name of the primary holder

19. On change of status i.e. from resident to non-resident, benefits of HealthCover FD will be discontinued and HealthCover FD will have to be closed

20. If a primary applicant changes the date of birth, name etc after HealthCover fd is booked and if the details are not as per the eligibility defined for the product, claim will not be settled for such cases

21. Benefits under hospital cash shall not be payable for more than 15 days per Hospitalization claim per Policy Year

22. Benefits under hospital cash shall not be payable for more than 15 days per Policy Year

23. Benefits under hospital cash will trigger only after a Deductible of 1 day

24. Specified Disease / Procedure waiting period: A waiting period of 24 months from the Inception Date shall apply to the treatment, whether medical or Surgical and of the Illness/conditions and their complications mentioned in Annexure I.

25. Pre- Existing Diseases Waiting Period Payment will not be done for any claim in respect of any Insured Person directly or indirectly caused by, based on, arising out of, relating to or howsoever attributable to any Pre-Existing Diseases or any complication arising from the same, until 4 years in this regard has elapsed since the Start Date of the first Policy with Us

26. Initial waiting period: A waiting period of 30 days from the Inception Date of the Policy will be applicable for all Hospitalisation claims except in case of Accidents.

27. Permanent Exclusion- Aditya Birla Health Insurance company shall not be liable to make any payment for any claim under any Benefit in respect of any Insured Person directly or indirectly caused by, based on, arising out of, relating to or howsoever attributable to any of the reasons mentioned in Annexure II

28. GOOD Health Declaration
    
    I/We hereby declare that I/We are not suffering from or have been diagnosed with advised taken treatment or observation is suggested or undergone any investigation or consulted a doctor or undergone or advised surgery for any one or more from the following
    
    a. High Blood Pressure, Heart Attack or any other Heart Disease, abnormal lipid levels;
    b. Stroke, Paralysis in any form, or any other Cerebrovascular Disease;
    c. Diabetes or thyroid/parathyroid or any other Endocrinal Disease, Any Kidney Disease;
    d. Acute / Chronic Liver (Failure/ Disease), Cirrhosis of Liver, Alcoholic liver disease; any pancreatic disease
    e. Any Lung Disease (e.g. Chronic Obstructive Pulmonary Diseases, Parenchymal lung Disease, Pulmonary Embolism etc.).
    f. Blood Disorders, Gastro-Intestinal Diseases, Ulcer or any other disorder of the bones, spine or muscle;
    g. Any Cancer or Cancerous growth;
    h. Any Mental or Psychiatric condition, any Genetic Disease, autoimmune or any disease related to central nervous system (disease related to brain); Congenital conditions; 
    i. HIV / AIDS or AIDS related complications,
    j. Covid positive in last 3 months
    k. Any h/o sudden loss of weight in last 1 yr
    
    

I have read, understood and agree the above Terms and Conditions and I/We further agree and confirm if any of the above declarations are untrue or there has been any non-disclosure of any material fact, then the Policy to be issued by the insurer in my name shall be treated as void during the settlement of the said Policy by the Insurer.

I have read, understood and agree Health insurance product (Group Hospital Cash) belongs to insurance company (Aditya Birla Health Insurance) and the claim settlement will be as per Insurer’s process and Bank does not have any role to play in the same

I have read and agree to data privacy notice updated on HDFC Bank’s website: www.hdfcbank.com > Personal> Useful Links > Privacy