Wealth2Health Fixed Deposit Distributor FAQ s Updated: February 2015 Version 01
Distributor FAQ s Wealth 2 Health 2 Contents 1 Frequently Asked Questions Wealth 2 Health...3 Are there any age restrictions to avail of this facility similar to those in health insurance?... 3 Who can use the facility the first holder of the account?... 3 Can the W2H deposit be taken by a HUF? Or a partnership firm? Pvt Ltd Company?... 3 Interest charged... 3 Service tax... 3 Doc round the clock... 3 Second opinion... 4 Linking other DHFL FD accounts to Wealth 2Health... 4 Linking process... 4 Latest Hospital List... 4 Adding Hospitals / Diagnostic Centers... 4 Tax Breaks... 4 Paying the loan from insurance claims proceeds... 4 Death of the first holder... 5 If cost of hospitalization is greater than my loan limit... 5 How do we access the doc round the clock facility?... 5 Process to be followed at hospitalization... 5 Process to be followed for diagnostic center tests... 5 How do I know how much discount I will get?... 6
Distributor FAQ s Wealth 2 Health 3 1 Frequently Asked Questions Wealth 2 Health Are there any age restrictions to avail of this facility similar to those in health insurance? - Wealth 2 health is not an insurance product, it s a fixed deposit product which provides access to health facilities. There are no age limits to investment in a fixed deposit product and therefore, no age limits on access to the health facilities. Who can use the facility the first holder of the account? The facilities are bundled with the card which is in the name of the first holder of the account. At the hospital / diagnostic center the authorization would take place through the first holders mobile phone only and the health services must be authorized before they can be accessed. The first holder can use the facilities for any family member, but he must authorize the same i.e. the card must be presented to the hospital and the mobile phone based authorization must take place. An alternative to ensure that all members get access to all facilities, is to create multiple FD s with various family members as first holders this will ensure that all members have their own card, to take care of contingencies such as first holder travelling or not being available. Can the W2H deposit be taken by a HUF?Or a partnership firm? Pvt Ltd Company? The deposit is available for resident holders only. It cannot be taken in the name of the HUF, Partnership, Private Limited Company. Interest charged 4. IN a situation where the customer has used the facility and taken the loan, does the interest charged on the loan get offset against the interest receivable from the remainder of the FD if any? - Yes. Service tax 5. Is service tax applicable on the interest on loan? - No. not presently, this is based on the prevailing laws around service tax and could change. Doc round the clock 6. Is there a limit on the number of calls to the Doc round the clock facility? - No.
Distributor FAQ s Wealth 2 Health 4 Second opinion 7. Is there a limit on the number of times the second opinion service can be used? - No. Linking other DHFL FD accounts to Wealth 2Health 8. Is there any limit on the number of accounts which can be linked to the Wealth 2 Health FD? - No. To link the account, customers need to fill out a form. Linking process 9. What happens if the linked FD s have differing interest rates or maturity dates? -While linking existing FD s to the Health 2 Wealth FD the customer is asked to chose based on whether he wants to link by interest rate or maturity date. If he choses to link by interest rate, then the FD with the lowest interest rate is used first to authorize the loan and access cashless, if he choses to link by maturity date, then the earliest maturing FD is used up. Latest Hospital List 10. How do we know which hospitals are on the panel for this facility? - The updated list is available on www.health4sure.in. - For any query email info@vidalhealth.com, with a copy to haripriya@vidalhealth.com Adding Hospitals / Diagnostic Centers 11. If we want to include an additional facility how can this be done? - Send an email to info@vidalhealth.com with a copy to haripriya@vidalhealth.com, with full name, address and contact name of the hospital or diagnostic center to be empanelled. Tax Breaks 12. What kind of tax breaks are available on this product? Can we get the 80D insurance premium tax break? The tax break under section 80 D is for health insurance premium only. It is not available. However there is a tax break for Rs 5000 available for preventive health care expenditure i.e. for cost of diagnostic tests this is available when the wealth2health card is used. Paying the loan from insurance claims proceeds 13. Can I repay the loan when I receive the insurance claim amounts?
Distributor FAQ s Wealth 2 Health 5 - yes. You can repay the loan from any source of funds. Death of the first holder 14. What happens to the card on the death of the first holder? - when the first holder dies, the card becomes void. The nominees will have to go through the transmission process and the FD will be logged into the name of the new first holder. A new card will be issued to the new first holder. If cost of hospitalization is greater than my loan limit 15. example: FD amount Rs 100,000 therefore loan amount Rs 75,000. Hospitalization cost Rs 100,000 discount of 10% available. Net amount payable Rs 90,000 (after discounts). Of this upto Rs 75000 can be authorized using the loan facility. The balance Rs 15000 payable in cash or by credit card by the customer at the time of discharge. Note: The discount of Rs 10,000 is calculated on the entire transaction - this is a special facility for DHFL customers. How do we access the doc round the clock facility? You will receive a SMS with your unique id number for the doctor around the clock facility. The phone number is 080 49 10 10 10. Call this number and use your unique 7 digit id number to speak to your doctor. When you call the second time, the doctor will be able to see your previous history. Process to be followed at hospitalization Show your card to the admissions desk at the hospital and tell them that you have a cashless facility which will be arranged by Vidal Health. The clerk at the admissions desk will log into the Vidal portal and you will get a OTP (One Time Password) on your mobile phone. This has to be shown to the billing desk they will enter the password and your transaction will be authorized to the extent of your loan amount in the FD. Process to be followed for diagnostic center tests Same as process hospitalization.
Distributor FAQ s Wealth 2 Health 6 Process to be followed for second opinon? How much time to get the second opinion? For the second opinion use this link - http://health4sure.in/secondopinion. Use your mobile number to login, fill the online form and attach documents needed to get a second opinion. The doctor from Vidal may call you for clarifications. You will get the second opinion within 72 hours. How do I know how much discount I will get? Call the Vidal call center and give the name of the hospital / diagnostic center you want to use and the tests you want to undertake and they will give you the discount negotiated. Call center number: 080 491 66 710.