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Insurance Plans Comparison

HDFC ERGO Health Wallet vs ICICI Lombard Max Protect Premium

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

Max Protect Premium

A ₹1 crore family cover with international treatment and any-room access

What Makes It Special:

Max Protect Premium is the higher MaxProtect variant with a ₹1 crore sum insured. It adds international treatment cover, air ambulance access, and a claim protector feature, and allows any room category except suite.

Best For:

  • Buyers who do not need maternity cover or outpatient consultations

  • Frequent travellers who want air ambulance access

  • Buyers who want access to any room category except suite

  • Families who want a ₹1 crore sum insured with restoration

  • Buyers who need international treatment cover

Insurance Plans Comparison

Get Personalized Advice

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 Max Protect Premium

  • Kindly consult the insurer on co-payment and sublimits before buying.

  • Maternity and outpatient consultations are not covered.

  • Confirm the international cover limits, since the policy wording is not yet verified.

  • The PED waiting period is 3 years, so consider the add-on that reduces it to 2 years.

  • Premium costs more than Classic, so compare the added international benefits against your needs.

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
Max Protect Premium
Max Protect Premium

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

Max Protect Premium

Any room except suite. Suite room charges are shared with the insurer.

ICU Charges

Health Wallet

Not specified

VS

Max Protect Premium

Kindly refer to policy wording

Advanced Treatments

Health Wallet

Worldwide Emergency Treatment

Day Care Procedures

Preventive Health Check-Up

Unlimited Restore Add-On

VS

Max Protect Premium

Information Unavailable

Co-payment

Health Wallet

None

VS

Max Protect Premium

Kindly refer to policy wording.

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

Max Protect Premium

Kindly refer to the policy wording.

Cashless Healthcare Providers

Health Wallet

14,000+ network hospitals across India

VS

Max Protect Premium

14,000+ cashless network hospitals

Restoration Benefit

Health Wallet

Information Unavailable

VS

Max Protect Premium

Restores up to 100% of the sum insured, multiple times in a policy year. Kindly consult the conditions.

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

Max Protect Premium

Kindly review the policy wording.

Daycare Treatment

Health Wallet

Covered

VS

Max Protect Premium

Kindly refer to the policy wording.

AYUSH Treatment

Health Wallet

Covered

VS

Max Protect Premium

Kindly refer to policy wording.

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

Max Protect Premium

Kindly refer to policy wording.

Initial Waiting Period

Health Wallet

30 days

VS

Max Protect Premium

30 DAYS

Specific Waiting Period

Health Wallet

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

VS

Max Protect Premium

Kindly refer to policy wording.

PED Waiting Period

Health Wallet

36 months

VS

Max Protect Premium

3 years, reducible to 2 years with the add-on

Modern Treatment

Health Wallet

Not specified

VS

Max Protect Premium

Covered. Kindly consult for limits.

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

Max Protect Premium

Not offered

Pre-Hospitalisation

Health Wallet

Not specified

VS

Max Protect Premium

60 days before hospitalisation. Kindly confirm.

Post-Hospitalisation

Health Wallet

Not specified

VS

Max Protect Premium

180 days after discharge. Kindly confirm.

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

Max Protect Premium

Not covered. Doctor consultations are not covered.

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

Max Protect Premium

Kindly refer to policy wording.

Coverage Options

Health Wallet

Information Unavailable

VS

Max Protect Premium

₹1 crore base cover. Room rent modifier and PED reduction add-ons available.

Claim Settlement Ratio

Health Wallet

97.45%

VS

Max Protect Premium

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

Max Protect Premium

Not offered

Insurance Plans Comparison

Still Confused? Get Expert Advice

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Why Choose Our Expert Consultation?

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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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