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Insurance Plans Comparison

HDFC ERGO Health Wallet vs ICICI Lombard Health AdvantEdge Plus

Make an informed decision with our detailed side-by-side comparison of top health insurance policies. Compare...

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HDFC ERGO

Health Wallet

Hospitalisation cover plus a carry-forward reserve for everyday medical costs

What Makes It Special:

Health Wallet pairs a conventional hospitalisation cover with a Reserve Benefit that behaves like a medical savings account inside the policy: unused amounts carry forward to the next policy year and earn a 6% bonus at renewal, the balance can be spent on outpatient and ordinarily non-payable costs such as...

Best For:

  • Families expecting to stay claim-free who want the Multiplier Benefit to double the basic sum insured over two years

  • Long-term policyholders who will stay beyond five renewals and want to use the accrued Reserve to pay up to half of their renewal premium

  • Buyers who already hold another health policy or a corporate cover and can take the optional deductible to reduce premium

  • People who dislike the idea of paying premiums with nothing to show for claim-free years, since the Reserve carries forward and earns a 6% bonus

  • Buyers who regularly spend on consultations, medicines, dental care, spectacles or diagnostics and want a policy that contributes to those costs, not only to hospitalisation

VS
ICICI Lombard

Health AdvantEdge Plus

Cover pre-existing diseases with no waiting period, reset the sum insured unlimited times for any illness after the first claim, once only at ₹5 lakh or seven-and-a-half lakh, and keep a 20% cumulative bonus up to 100% after a claim.

What Makes It Special:

The Royal Plus Plan under ICICI Lombard Health AdvantEdge offers sum insured options from ₹5 lakh to ₹3 crore, along with eligible hospitalisation, daycare, AYUSH, home care and pre- and post-hospitalisation benefits. Its distinguishing features include a guaranteed cumulative bonus, reset benefit, and Claim Protector at specified sum insured levels....

Best For:

  • Buyers who want to compare higher sum insured options and additional benefits against their budget and coverage needs.

  • Families considering optional maternity-related benefits, subject to eligibility and waiting periods.

  • People looking for a cumulative bonus that can increase cover over eligible claim-free periods.

  • Buyers who value a restore benefit for eligible subsequent claims in the same policy year.

  • People seeking cover for eligible hospitalisation and day-care treatment expenses.

Insurance Plans Comparison

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Our insurance experts are here to help you make the right choice. Get personalized recommendations based on your specific needs and budget.

Quick Decision Guide

HDFC ERGO Health Wallet

  • Room rent, ICU limits, pre- and post-hospitalisation periods, day care cover in India and AYUSH are not stated in the available summary literature, so read the policy wording on those before buying.

  • A claim resets the Multiplier Benefit's progress, so if you expect to claim in the early years, do not size the sum insured on the assumption that it will double.

  • The preventive health check-up limit is tied to your Reserve Benefit rather than being a flat entitlement, so ask what limit applies at your chosen sum insured before counting on it.

  • The built-in Restore Benefit is narrow — once a policy year, only after the basic sum insured and Multiplier are fully exhausted, only for future claims, and not for an illness already claimed that year — so price the Unlimited Restore add-on if multiple claims are a realistic prospect.

  • The optional deductible cancels the Recovery Benefit, so if the ₹10,000 lump sum for a stay beyond 10 days matters to you, weigh it against the premium the deductible saves.

ICICI Lombard Health AdvantEdge Plus

  • Compare the cost and waiting conditions of optional maternity and non-medical-expense benefits before adding them.

  • Check the restore benefit's trigger and restrictions rather than assuming it can pay every subsequent claim.

  • Confirm whether the selected sum insured and policy version provide the room category and ICU cover you expect.

  • Review the 2-year PED waiting period and disclose all existing medical conditions when applying.

  • Check the UIN and policy schedule before purchase because the publicly available Apex Plus material is historical.

Insurance Plans Comparison

Detailed Features Comparison

Compare the key features of different health insurance plans

Health Wallet
Health Wallet

Health Insurance Plan

Brochure

Policy Wording

VS
Health AdvantEdge Plus
Health AdvantEdge Plus

Health Insurance Plan

Brochure

Policy Wording

Room Rent

Health Wallet

Normal: No Capping (Covered up to Sum Insured)

ICU: No Capping (Covered up to Sum Insured)

VS

Health AdvantEdge Plus

  1. Normal: No Limit 
  2. ICU: No Limit 

    If the sum insured health insurance policy is Rs.5 Lakh or above.

ICU Charges

Health Wallet

Not specified

VS

Health AdvantEdge Plus

Up to sum insured for Apex Plus, subject to the applicable wording.

Advanced Treatments

Health Wallet

Worldwide Emergency Treatment

Day Care Procedures

Preventive Health Check-Up

Unlimited Restore Add-On

VS

Health AdvantEdge Plus

  1. Oral Chemotherapy 
  2.  Robotic Surgeries 
  3. Stem Cell Therapy 
Co-payment

Health Wallet

None

VS

Health AdvantEdge Plus

Co payment is applicable as chosen by the insured. 

It allows the insured to opt for 10% or 20% co-payment.

Disease-wise sublimits

Health Wallet

Not specified. Ambulance cover is limited to ₹2,000 per hospitalisation and the Recovery Benefit to a ₹10,000 lump sum

VS

Health AdvantEdge Plus

Certain benefits have specific limits, including ambulance, animal-bite vaccination, bariatric surgery and home-care treatment. Other limits depend on the policy terms.

Cashless Healthcare Providers

Health Wallet

14,000+ network hospitals across India

VS

Health AdvantEdge Plus

10,000+ Healthcare Providers across India 

Cumulative Bonus

Health Wallet

Multiplier Benefit — basic sum insured increases by 50% after a claim-free year and doubles after a second consecutive claim-free year. Separately, unused Reserve Benefit earns a 6% bonus at renewal

VS

Health AdvantEdge Plus

Guaranteed cumulative bonus: 20% of sum insured, up to 100%, under the historical Apex Plus brochure.

Daycare Treatment

Health Wallet

Covered

VS

Health AdvantEdge Plus

Covered. Requires hospitalization of more than 24 Hours.

AYUSH Treatment

Health Wallet

Covered

VS

Health AdvantEdge Plus

AYUSH is covered up to Sum Insured.

Consumable Cover

Health Wallet

Not covered as an indemnity benefit. The Reserve Benefit may instead be used to pay non-payable items generally excluded from a health insurance claim

VS

Health AdvantEdge Plus

Listed non-medical expenses may require the optional Claim Protector benefit; verify the applicable schedule.

Initial Waiting Period

Health Wallet

30 days

VS

Health AdvantEdge Plus

30 days for illnesses; accidental hospitalisation exempt.

Specific Waiting Period

Health Wallet

24 months for specified diseases including cataract, hernia, hysterectomy and joint replacement

VS

Health AdvantEdge Plus

2 years for specified diseases and procedures, subject to the policy wording.

PED Waiting Period

Health Wallet

36 months

VS

Health AdvantEdge Plus

2 years, subject to disclosure and acceptance by the insurer.

Modern Treatment

Health Wallet

Not specified

VS

Health AdvantEdge Plus

Covered up to sum insured, subject to policy terms and exclusions.

Annual Health Checkup

Health Wallet

Preventive health check-up at renewal irrespective of claims; the check-up limit eligibility is based on the Reserve Benefit

VS

Health AdvantEdge Plus

Annual benefit from the first year; historical brochure specifies up to 0.5% of sum insured, capped at ₹10,000, on a cashless basis.

Pre-Hospitalisation

Health Wallet

Not specified

VS

Health AdvantEdge Plus



Post-Hospitalisation

Health Wallet

Not specified

VS

Health AdvantEdge Plus

Up to 180 days under the historical Apex Plus brochure.

Outpatient Department Cover (OPD Expense)

Health Wallet

Not covered as a separate indemnity benefit. The Reserve Benefit can be used for outpatient costs including consultations with a medical practitioner, physiotherapist, dietician or speech therapist, medicines, vaccinations, dental expenses and outpatient diagnostic tests

VS

Health AdvantEdge Plus

General OPD cover not verified. Teleconsultations are listed in the historical brochure as an included value-added service.

Deductible Option

Health Wallet

Optional — applies on an individual basis for an individual sum insured policy and on a family floater basis for a floater policy; it does not reduce the sum insured. Choosing it removes the Recovery Benefit

VS

Health AdvantEdge Plus

Not verified for this variant.

Coverage Options

Health Wallet

Information Unavailable

VS

Health AdvantEdge Plus

Individual/family cover; historical Apex Plus brochure also lists worldwide cover for sum insured of ₹25 lakh and above. Confirm current availability and conditions.

Claim Settlement Ratio

Health Wallet

97.45%

VS

Health AdvantEdge Plus

FY 24-25: ~84%

Maternity Cover

Health Wallet

Not covered — expenses attributable directly or indirectly to pregnancy, including voluntary termination, and miscarriage except as a result of an accident or illness, are excluded

VS

Health AdvantEdge Plus

Optional; historical brochure specifies 10% of base sum insured, capped at ₹10 lakh, for up to 3 deliveries. Waiting periods and eligibility must be checked in the applicable wording.

Insurance Plans Comparison

Still Confused? Get Expert Advice

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Talk to experienced advisors at no cost, and make confident decisions

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24/7 Claim Assistance

Get a dedicated expert managing your claim end-to-end, from hospital admission to approval, including dispute resolution and support

What Our Experts Help You With

Personalised Recommendations

  • Every suggestion is backed by expert analysis of your life stage, goals, and budget

Expert-Led Policy Review

  • We decode the fine print—identifying risks, sub-limits, and gaps you may have missed. No surprises later

Smart, Tech-Enabled Experience

  • From digital onboarding to real-time claim tracking, our platform makes insurance easy, accessible, and stress-free

Insurance Plans Comparison

Explore Insurance Category

Senior Citizen Health Plan

Senior Citizen Health Plan

  • Secure against age-related medical costs

  • Tailored for seniors healthcare needs

Most Popular

Family Health Plan

Family Health Plan

  • One policy covers the entire family

  • High sum insured with cashless care

  • Multiple coverage options based on your family needs

Maternity Health Plan

Maternity Health Plan

  • Covers delivery, newborn care, and maternity expenses

  • Reduces financial stress of childbirth costs

Insurance Plans Comparison

Frequently Asked Questions (FAQs)

Having questions? We've got answers. Explore our FAQs to find the information you need.

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