Overview
The Digit Double Wallet Plan is designed to cover your medical expenses with two wallets with separate sum insured. It covers inpatient hospitalization, daycare procedures, pre- and post-hospitalization expenses, road ambulance, and even psychiatric illnesses. Plus, it provides a health check-up benefit at the end of every continuous policy year, without reducing your sum insured.
Experts Review
Written by Nikhil Nair
Senior Writer
The first thing that grabs your attention is the "double wallet" concept, which in simple terms, means you basically have two sums insured. This helps if you're worried about exhausting your coverage with multiple hospitalizations in a year. Having a plan with two wallets makes it stand out from other traditional plans.
I appreciate the inclusion of psychiatric illness coverage alongside covers for daycare procedures and road ambulance costs. Another key feature is the Double Wallet Plan’s coverage for bariatric surgery, which can be beneficial. It's also good that the policy provides a health check-up benefit that does not affect or be deducted from your sum insured. The true standout is the plan’s in-built personal accident cover. Essentially, in the event the insured passes away in an accident, the insurance company will payout a lump sum of ₹50,000.
On the downside, the low no-claim bonus of 10% every claim-free year and its cap at 100% of the original base sum insured may deter individuals looking for better benefits.
Pros
Feature set is satisfactory.
Great pick if you're looking for something affordable.
Insurer has a solid track record with great claim and service metrics.
Cons
Maternity benefits not offered, which is a notable gap.
Doctor consultations are not covered, which could be a drawback for some.
Digit
Key Insights
Founded
2016
Digit was established 9 years ago, making it a relatively new entrant with a developing track record.
Claims Experience
99% claims settled in 30 Days
Digit settles 99% of all claims it receives demonstrating strong credibility.
Network Hospitals
16,400+
Digit has a strong network with over 16,400 hospitals, ensuring wide accessibility and convenience for policyholders.
Complaints
17 complaints per 10,000 claims registered
Digit experiences a moderate number of complaints, indicating room for improvement in addressing customer concerns.
Features
All
Great
Good
Co-payment
The insurer will bear the entire cost of treatment (up to the sum insured). You won’t have to pay a single penny. Meaning this policy has no co-payment.
Room Rent
Shared room, single room, deluxe room or any room that’s available. The insurer won’t nitpick on your choice of room since the policy has no restrictions on room rent.
Disease sub-limit
No funny business here. If your insurer hasn’t explicitly stated they won’t cover a certain illness, you can claim the full amount up to the sum insured, irrespective of the disease you’re dealing with. Meaning this policy doesn't impose the dreaded disease wise sub-limits.
Pre existing diseases waiting
If you’re already dealing with diabetes, cardiovascular problems or any such illnesses, the insurer will cover all costs arising out of these pre-existing problems after you wait for 3 years.
Pre/Post hospitalization
No worries if the doctor had to run a host of diagnostic tests before or after hospitalizing you. The insurer has your back. They will cover this amount in full for a pretty reasonable duration - 30 days before you are hospitalized and 60 days after discharge. This includes the cost of medication by the way.
Add-ons
Consumables Cover
Recommended
Covers list of 68 non-medical items as per list I
Permanent Exclusions
Conditions or treatments that the policy clearly says it will not cover.
Legal Liability
Expenses related to any admission primarily for diagnostics and evaluation purposes are excluded.
Diagnostic expenses not related or incidental to current diagnosis and treatment are excluded.
Expenses for admission primarily for bed rest and not for treatment are excluded.
Custodial care at home or in a facility for help with daily activities is excluded.
Disclaimer: For illustration purposes only - exact terms are in the policy wording.
Specific Illness
The following illnesses are not covered under the policy for 2 years.
Non-infective arthritis, Osteoarthritis and Osteoporosis (if age related), including:
Systemic Connective Tissue disorders
Dorsopathies
Spondylopathies
Inflammatory Polyarthropathies
Waiting Period
30 days Initial waiting period
2 years Specific illness waiting period
3 years Pre-existing disease waiting period
Ditto's Take
◦ Standard ◦
After a close look at the waiting periods, it’s safe to say they are fairly standard.
What's missing in the policy
Maternity benefits not offered.
Doctor consultations are not covered.
Customer Reviews
H
Harish Mishra
The 'double wallet' concept is quite unique! Having two sums insured feels very secure for multiple hospitalizations.
H
Heena Iyer
Coverage for psychiatric illnesses is a much-needed feature in today's times. Thank you Digit!
I
Inder Menon
Bariatric surgery coverage is a big plus for those on a weight loss journey.
L
Lata Chandra
Digit is a new player, so their long-term track record is still limited. A bit of a gamble.
K
Kiran Das
No-claim bonus is only 10% per year. Could have been higher.
J
Jyoti Jain
Covers inpatient, daycare, pre & post hospitalization. Pretty comprehensive.
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Frequently Asked Questions
Does Double Wallet have waiting periods?
- 30-Day Waiting Period: Hospitalizations won’t be covered for the first 30 days of the policy unless it’s an accident.
- Specific Illness Waiting Period: There’s a 2-year waiting period for a list of diseases which is a mandate before you can start claiming.
- Pre-Existing Disease Waiting Period: There's a 3-year waiting period for any pre-existing disease you may have while buying the policy.
Does Double Wallet have room rent restrictions?
Does Double Wallet offer a restoration benefit?
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