Objective

An online health insurance policy that aims to cover a family on a floater sum basis against basic hospitalisation expenses.

Suited for

Anyone up to 60 years of age can buy this policy. It can cover a family of up to two adults and three children.

What does it do?

This is a family floater policy where any of the insured members can utilize the Sum Insured. It is a basic plan that covers hospitalisation expenses, Room rent and boarding expenses with sub-limits and ambulance services. It also covers Day Care procedures which donot require an overnight stay in the hospital due to advancement of technology. It further provides Daily Cash benefit to take care of fooding and accommodation expenses of insured's relatives and family. It solely depends on insured person how he uses the Daily Cash Amount.

Pros

This policy can be bought online.
Emergency Assistance Services are available on payment of extra premium. This service provides for medical consultation, medical evacuation, care for minor children, cash coordination and other tasks.
Premium paid towards this policy qualifies for tax relief under Section 80D of income tax act.

Cons

Room rent and boarding benefits are capped.
Ambulance charges are covered for a comparatively lower amount.
Policy does not allw lifetime renewals.

Our View

Sub-limits on room rent and boarding is a drawback. The policy allows renewals only upto 80 years of age which is a major limitation. Old age is an age when the risk of ill health is maximum and health insurance becomes crucial. Buying a new policy at that age becomes a Herculean task. You should prefer policies that offer lifelong renewal facility.

Eligibility

Entry Age (years)

Minimum

18

Maximum

60

Maximum Policy Renewal Age (years)

80

Coverage Type

Family floater

Policy Term (years)

1

Sum Insured (Rs)

Maximum

5 lakh

Minimum

2 lakh

No Claim Bonus

5% of Sum Insured for each claim free till it reaches 50% of sum insured with 'Wider Plan' only

Pre Policy Medical Check Up

Not required upto 45 years of age

Customer Service

Address

Corporate Office:
IFFCO TOWER
4th & 5th Floors
Plot No.3, Sector 29
Gurgaon-122001
Haryana (India)

Mail to

websupport@iffcotokio.co.in

Call to

1800-103-5499(toll free) or 0124-4285499

SMS

CLAIM' to 56677

Network Hospitals

Https://www.paramounttpa.com/ProviderNetwork/ProviderNetwork.aspx

Scope Of Cover

Cashless facility

available if taken in a network hospital

Reimbursement facility

available if treatment taken in non-network hospital

Pre hospitalisation expenses

covers expenses upto 30 days prior to admission to hospital

Post hospitalisation expenses

upto 7% of hospitalisation expenses for maximum 30 days after discharge from hsopital; maximum upto Rs 7500

Inpatient Hospitalisation

Room expense and boarding

covered upto 1%(2% for ICU expense) of sum insured per day

Day Care Procedures

121 such procedures are covered

Hospital Daily Allowance

Rs 150 per day

Local ambulance services

upto Rs 750

Sub-limit on cover for certain illnesses such as cataract, hernia, knee joint etc.

applicable as per detailed in policy document

Additional benefits (requires payment of extra premium)

Emergency Assistance services

provides medical consultation, emergency medical evacuation, care for minor children etc in case of emergency

Exclusions and Waiting Period

Pre-existing diseases

covered after 4 continuous policy renewal

No claim period

30 days commencing from issue date of the policy

Waiting period

Any type of Carcinoma /Sarcoma /Blood Cancer, Varicose veins/ Varicose Ulcers will be covered after 2 policy years.1 year for any type of Carcinoma /Sarcoma /Blood Cancer etc.2 years for cataract, hernia, piles, sinusitis etc.

Other exclusions

naturopathy or other non-allopathic treatmentsOut patient treatment, AIDS or related conditions