Introduction
Before we start comparing these two policies we have to set out some ground rules.
Both products are marketed by different insurance companies. Optima Super Secure is sold by HDFC Ergo and iHealth is sold by ICICI Lombard. So any meaningful comparison should include a comparison of the product alongside the insurers themselves.
Second, we know that both products have massive differences in their core structure. Optima Super Secure is more comprehensive. It covers a lot more use cases and doesn’t have any egregious conditions. However, iHealth is quite basic. It offers little protection and may not be entirely suitable if you are looking for robust protection. So fundamentally, they’re two very different products.
And finally, any comparison is ultimately futile without considering the use case. Who are you buying this policy for? You, your family, your parents?
That’s something you’ll need to answer before using this guide. So with that introduction out of the way, we can get to comparing the actual policies themselves.
Let’s start with Optima Super Secure. The product comes from HDFC Ergo’s stable:
Founded in the year 2002, the company is a joint venture between India’s HDFC and Germany’s ERGO International AG. It offers policies across motor, travel, health and other sectors. And it also happens to be one of the largest insurers in the country.
More importantly, HDFC Ergo boasts a claim settlement ratio of 97.55%, with a network of 12,000+ hospitals
All in all, an impressive resume.
iHealth meanwhile comes from ICICI Lombard’s stable:
ICICI Lombard Health Insurance company is a joint venture between India's ICICI Bank and Canada's Fairfax Holdings. They are one of the leading insurance companies with over 270 branches spread across India.
However, with a claim settlement ratio of 86.67% and a measly network of 6,700+ hospitals, their performance needs significant improvement.
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Compare Insurances |  HDFC Ergo Optima Super Secure |  ICICI Lombard iHealth |
|---|---|---|
| Network hospitals | 12,000+ | 6,700+ |
| Claim settlement ratio (avg. of last 3 years) | 97.55% | 86.67% |
| Co-payment | No | No |
| Room rent | Any Room | Any Room |
| Disease sub-limit | No | No |
| Pre existing diseases waiting | 3 years | 2 years |
| Pre/Post hospitalization | 60/180 days | 30/60 days |
| No claim bonus | 50% per year (up to 100%) | 10% per year (up to 50%) |
| Domiciliary | ||
| Ayush treatments | ||
| Restoration benefit | 100% restoration ( for any illness) | 100% restoration (once for different illness) |
| Health check-up | Once every year | |
| Maternity | ||
| Out Patient Department | ||
| Day care |
Feature Comparison
Co payment
With a co-payment clause, the insurer will mandate that you pay a part of the bill. So if the bill adds up to Rs. 2,00,000 and the co-payment is set at 20% then you could be asked to pay Rs. 40,000 from the bill. In this case, however, Optima Super Secure doesn’t impose a co-payment clause. And neither does iHealth.
Room rent
If the policy does impose room rent restrictions then the insurer may only let you stay in a room of a certain specification or impose a cap on the total room rent. If you were to breach either criterion then the insurance company may ask you to pay a portion of all the expenses you incurred while staying in the room. In this case, however, Optima Super Secure doesn’t impose any restrictions on the kind of room you can pick. And iHealth also doesn’t impose any restrictions on this front. You can pick any room you want.
Sub limits
Some policies will tell you that they will cover all medical expenses up until the sum insured, but then impose caps on the total costs you can incur while dealing with a very specific list of diseases. We call these caps “Disease Wise Sub Limits.” In this case, neither Optima Super Secure imposes disease-wise sub-limits nor does iHealth
Waiting periods for pre-existing diseases:
If you’re suffering from a lifestyle condition or if you’ve had surgery in the past, or if you’re dealing with an acute or chronic illness at the time of buying the policy, then the insurer may classify this as a pre-existing disease. And they may tell you that they will only cover these illnesses after some time. In this case, Optima Super Secure imposes a waiting period of 3 years on pre-existing diseases while iHealth extends a waiting period of 2 years on existing conditions.
Pre and post Hospitalization expenses
Most people aren’t hospitalized right off the bat. Instead, they’ll have to go through a whole series of diagnostic tests before hospitalization and take medication post-discharge. These costs are outlined as pre-hospitalization expenses and post-hospitalization expenses respectively. In this case, Optima Super Secure covers expenses incurred 60 days before hospitalization and expenses incurred 180 days post-hospitalization. Meanwhile, iHealth covers expenses incurred 30 days before hospitalization and expenses incurred 60 after hospitalization, although there may be different sub-limits
No claim bonus
Some policies will tell you that they will incentivize you for not making a claim in any given year. And they offer such incentives by offering extra cover on top of the existing sum insured. This extra cover is categorized as a no-claim bonus. In this case, however, Optima Super Secure offers a no-claim bonus of 50% whereas iHealth offers a no-claim bonus of 10%. And the no-claim bonus may be capped at different levels too.
Domiciliary
Imagine you are forced to treat yourself at home because you don’t find a hospital bed, or you have a chronic condition that prevents you from visiting one, then, insurers may choose to cover your treatment even if you’re hospitalized at home. And such costs are collectively categorized as domiciliary treatment costs. In this case, however, Optima Super Secure offers domiciliary cover whereas iHealth doesn’t offer domiciliary protection.
Ayush treatments
Most policies only cover treatments administered in a registered medical facility. However, on some occasions, you may want to pursue alternative treatments including homoeopathy, Ayurveda, Unani and Siddha. These treatments are collectively categorized as Ayush treatments. And in this case, Optima Super Secure covers Ayush procedures and iHealth also extends coverage for Ayush treatments.
Maternity benefits
If you’re hospitalized during childbirth, then you may have to incur significant costs during delivery of your newborn, child care and other related matters during the course of the hospitalization. These costs are collectively termed maternity costs. And in this case, neither Optima Super Secure offers maternity cover nor does iHealth.
Out Patient Department (OPD)
Doctor visits and regular consultations aren’t usually covered by health insurance policies. They are categorized as Outpatient consultations (or OPD treatments) and patients have to bear the cost on their own. In this case, however, neither Optima Super Secure extends coverage for outpatient consultations, nor does iHealth.
Final Conclusion
After considering all the features on hand, we believe that Optima Super Secure is a better alternative to iHealth for most use cases that we’ve evaluated so far.
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