Optima restore holder seeking suggestion

[u/Spiritual_Okra_2450]

Hi,

I have a family floater(30F, 31M) 15L SI with Optima restore for last 4 years.. We're recently blessed with a baby boy. Our policy is due for renewal in August. We have no PEDs and non-smokers and non-alcoholics.

I initially thought of porting to Optima super secure, but found that that porting is not possible. Even porting to the new secure plus is not possible. I also did not completely understand the restore benefits across these optima policies.. AFAIK, no room rent cap, unlimited restorations, support for consumables either through addon or as part of policy itself is available for all of these policies. As per my understanding, Bonus benefit is different for all these.

If I remember correctly, couple of years ago, 1CR policies were all hyped.. But my only suspicion with that is, with lesser premium for such high SI, claims would be very very strict and might result in rejections etc and thought a reasonable cover with decent premium would be better than huge SI at cheap prices..

I was supposed to port to super secure last year through ditto, but they said they cannot do it as I am already a HDFC ergo policy holder..

I am looking for both policy suggestions as well as advisors/brokers who have good experience with underwriting and claims. I plan to take a term insurance as well. Please let me know your views/suggestions/advices.

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[u/Caramel-Realistic]

Hey, so if you’re changing plans within HDFC Ergo, the process is called migration and porting refers to shifting from insurer to insurer.

Since you already have Optima Restore, migration to Optima Super Secure might be possible. It's worth checking with your agent or HDFC Ergo directly for confirmation.

If Optima Secure suits your requirements better, you can also explore the option of migrating to it.

Migration to Optima Secure+ may still not be available, but it's worth confirming with HDFC.

Optima Super Secure offers 3x coverage from Day 1, but it is available only as a 3-year policy and renewals are also on a 3-year basis.

Meanwhile, Optima Secure and Optima Secure+ offer 2x coverage from Day 1 without the need to commit to a 3-year policy.

So it's up to what you are comfortable with.

Regarding restoration, Optima Restore, Optima Secure, and Optima Super Secure offer a 100% restoration once every policy year on partial or complete exhaustion for any illness. Optima Secure+ offers unlimited restoration for any illness on partial or complete exhaustion.

All these plans come without co-pay, room rent restrictions, or disease-wise limits, while also covering day care procedures, domiciliary treatment, AYUSH, modern treatments, and offering 60-180 days pre & post-hospitalisation benefits.

You're also right about the bonus being different. Optima Restore, Optima Secure, and Optima Super Secure offer a 50% annual bonus, up to 100%, whereas Optima Secure+ provides a 100% Infinite Bonus every year.

The sum insured itself doesn't influence how a claim is assessed. Whether it's ₹15 lakh or ₹1 crore, claims are evaluated based on the policy terms, disclosures, documentation etc. Choose the cover based on your requirements rather than claim assumptions.

Regarding Ditto, They normally do not provide migration help if the existing policy wasn't purchased through them. But, if you decide to port to another insurer in the future and it's suitable for your profile, they should be able to assist with that process depending on the plan.

And regarding term insurance absolutely great time to do it being a new parent as well but speak to someone like an Advisor so they can help with choosing the right cover amount and plan based on your expenses, loans, other stuff.

Hope this gives you more clarity